T-bill yields were mixed. The Treasury auctioned 13-week bills at an average discount of 7.19 percent, up from 7.18 percent last week. The Treasury also sold 26-week bills at an average yield of 7.21 percent, unchanged from last week.
Procter & Gamble shareholders rejected a resolution that urged the company to stop buying coffee from El Salvador until that nation ends its civil war.
Winnebago Industries is offering a year's rebate on gasoline to buyers of recreational vehicles in an attempt to break out of a sales slump made worse by rising gasoline prices. The company has suffered four straight quarterly losses and has idled 1,500 workers.
Oracle Corp.'s plans to move its headquarters to Ballston were put on hold in the wake of recent financial setbacks. The California software company had struck a tentative deal with developer Oliver Carr to occupy as much as 900,000 square feet of office space at a Carr development in Ballston.
CIGNA Direct Marketing chose Virginia Beach as the site for a new customer service center that the company says will employ as many as 1,000 people by 1995
BellSouth and Sony agreed to test a wireless communications system in Georgia late this year. The trial will involve 35 individuals who will have handsets capable of placing telephone calls through eight base stations.
Reynolds Metals purchased a 75 percent interest in a Canadian plant that makes aluminum wheels from Lemmerz Canada. Terms were not disclosed.
Goodmark Foods acquired Acme Foods of Baltimore. Acme's brands include Slim Jim, Penrose and Pemmican meat snacks. Terms were not disclosed.
The FTC moved to block a joint manufacturing venture between Meade Instruments and Celestron International that the agency said would create a virtual monopoly on production of Schmidt-Cassegrain telescopes, the instruments commonly used by serious amateur astronomers.
Carter Hawley Hale Stores reported a loss of $25.5 million in its fourth quarter, compared with an $8.3 million loss for the year-earlier period.
Ivan Boesky will not testify against Michael Milken at a pre-sentencing hearing on allegations against the former financier, prosecutors said.
Kirk Kerkorian and his Tracinda Corp. have agreed to pay $35 million to settle a class-action suit filed in connection with the 1986 sale of MGM-UA. The settlement would end four years of often rancorous litigation between former MGM-UA shareholders and Kerkorian.
Standard & Poor's is reviewing the status of New York City's ability to repay debt following a tentative agreement to give teachers a 5.5 percent pay raise. After reviewing its A-rating of New York City's $13 billion in outstanding general obligation bonds, Standard & Poors could decide to lower the rating.