Originally created 11/07/97

Additional business news

Wall Street's rebound stalled

NEW YORK -- Wall Street's rebound stalled Thursday, with stocks edging lower as U.S. economic considerations began to divert attention away from the market turmoil overseas.

The Dow Jones industrial average erased an early 52-point deficit and briefly moved higher, but was down 9.33 at 7,683.24 by the close.

Afternoon tours planned

Executives wanting a "backdoor pass" to inspect the innerworkings of Augusta-area businesses could get their chance through a series of monthly, afternoon tours sponsored by the Greater Augusta Advertising Club.

Called Access Augusta, the tours on the first Monday of each month at 5:30 p.m. will cost members $5, non-members $7 and students $3. Limited to about 40 people, the tours will teach marketing and manufacturing tips to participants, according to coordinator Grace Belangia, a free-lance marketing consultant and club member.

The club hopes to raise money and awareness for itself, according to club president Sherry Lorenz of St. Joseph Hospital.

AOL reports healthy revenues

NEW YORK -- America Online Inc. on Thursday reported it earned $19.2 million in the latest quarter, meeting most forecasts, amid a surge in revenues from new subscribers and online advertising.

The nation's largest online service said its profit in the first fiscal quarter ended Sept. 30 came to 16 cents per share. The results compared with a loss of $353.7 million, or $3.80 per share, in the year-ago period, stemming from a change in the company's accounting methods.

Revenues jumped nearly 50 percent to a record $521.6 million from $350.0 million.

AOL's stock edged lower before the report was released after the close of regular trading on the New York Stock Exchange, but plunged to a loss of $4.871/2 per share, or nearly 6 percent, to $80 in after-hours trading.


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