Joy Manufacturing rejected a $549-million buyout offer...

Joy Manufacturing rejected a $549-million buyout offer by Pullman-Peabody Co., claiming the $31-per-share bid was inadequate . . . The F.W. Dodge division of McGraw-Hill Information Systems reported that construction of new homes in the U.S. fell by 3% in the third quarter from the same period in 1985 . . . The Conference Board said spending on Christmas gifts this season by the 88 million U.S. households will reach nearly $29 billion, up about 5% percent from a year earlier.