THE TICKER

GRUMMAN MUM: Grumman Corp.'s controversial auction ended Thursday,but Wall Street was still waiting for word on whether Martin MariettaCorp. sweetened its offer and whether rival Northrop Corp. evenparticipated. Both companies have been seeking to buy theBethpage, N.Y.-based defense contractor, which threw itself open toan auction to the highest bidder earlier this week. Martin Mariettahad previously sealed a deal to buy the company for $55 a share or$1.9 billion. But Northrop jumped in days later with a hostile bidof $60 or a total of $2.04 billion, forcing Grumman into action.Grumman said the auction had ended but added that the company wouldmake no statements until Monday morning, when it plans to announce awinner. OFFER REJECTED: The Teamsters rejected a final offer fromthe trucking industry Thursday and promised to strike April 6 unlessagreement is reached on a nationwide contract. No additionalnegotiating sessions were scheduled, but both sides agreed to extendthe current contract until midnight Tuesday. It had been scheduledto expire at 12:01 a.m. today. Arthur H. Bunte Jr., chiefnegotiator for the industry, had urged union negotiators to place theindustry offer before members for a vote, saying the threat of astrike might cause shippers to find other means of transportingfreight. The Teamsters union, which represents nearly 90,000 peoplein the freight hauling industry, rejected what industry negotiatorsreferred to as their final offer when negotiations resumed after aday off. DEAL COMPLETE: First Colonial Bankshares Corp. hascompleted its previously announced acquisition of Hi-Bancorp, Inc.and GNP Bancorp, Inc., said holding company chairman and chiefexecutive officer, C. Paul Johnson. With assets of $87 million,Hi-Bancorp Inc. is the parent of Bank of Highwood. The $77 millionasset GNP Bancorp Inc. is the parent of New Century Bank inMundelein. FARE CUTS: America West Airlines Thursday announcedreductions of up to one-third on leisure fares for passengerstraveling through July 31. Tickets must be purchased by April 27,and significant restrictions apply. The cuts would reduce the costof a Chicago-Las Vegas round-trip flight by $171, to $398. TWA CUTS LOSS: Trans World Airlines narrowed its loss to $281.3million last year as it slashed operating expenses in an effort toemerge from bankruptcy protection, the airline said Thursday. Theloss was down from $404.6 million in 1992. Operating revenue fell 13percent to $3.16 billion from $3.63 billion in 1992, TWA said. TWAattributed the revenue decline largely to a 15 percent reduction inairline operations that began in the fall of 1992 as the airlinebegan reorganizing. Operating expenses in 1993 also decreased as aresult of the reduced level of operations, dropping 15 percent, from$4 billion to $3.4 billion. TWA emerged from bankruptcy protectionNov. 3. CORRECTION: A story in Thursday's Chicago Sun-Times misstated theeconomic impact of the Consumer Electronics Show on the Chicago arealast year. The Chicago Convention and Tourism Bureau says the impactis $32 million.