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MARKET SAVVY | Savvy Confidential: A Briefing for Investors

Ticker Talk

May 19, 1999|Times Wire Services

Retailer Nordstrom Inc. is going upscale--with its stock. The Seattle-based company said it's shifting its shares from Nasdaq to the New York Stock Exchange to reduce its trading volatility. Nordstrom will begin trading on the NYSE in early June under the symbol JWN, representing the initials of company founder John W. Nordstrom. . . . Federal regulators have censured and fined Iselin, N.J.-based Datek Online Brokerage Services Corp. for using its customers' cash to pay some of its expenses, a violation of consumer protection laws. Datek and its former chief financial officer agreed in a settlement to the censure and fines totaling $60,000, the Securities and Exchange Commission said Tuesday. . . . Billionaire Warren Buffett, whose investments in well-known consumer brands have attracted loyal followers who view him as one of the world's shrewdest investors, has added the British owner of Dunkin Donuts to his portfolio. Buffett's Berkshire Hathaway Inc. has bought 2.2% of Allied Domecq, which owns the doughnut shop chain, along with Baskin-Robbins ice cream stores and several liquor brands.

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