No Announcement on Hughes Buyer

Trustees of the Howard Hughes Medical Institute met Tuesday for eight hours in New York but failed to make a widely expected announcement about its choice of a buyer for Hughes Aircraft.

Three companies, General Motors, Ford Motor and Boeing, are in the running. For a second day, investors seemed to favor Ford’s chances. More than 1 million Ford shares changed hands, after Monday’s volume of 1.5 million. The price rose $1.125 to $44.50.