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J.C. Penney Co. agreed to sell 161 drugstores in the Carolinas to win Federal Trade Commission approval for its planned $3.3-billion acquisition of Eckerd Corp. . . . The Securities and Exchange Commission denied Stratton Oakmont Inc.’s request that the small-stock firm’s expulsion from the securities industry be postponed, saying the violations the National Assn. of Securities Dealers found at the firm are serious and that it appears unlikely Stratton would ultimately prevail in any appeal. . . . Hayes Wheels International Inc. said it will take control of Germany’s Lemmerz Holding in a $295-million transaction that would strengthen the auto wheel maker’s position in Europe.