Also. . .
* TRW Inc. said it may sell some of its auto-parts businesses if those units fail to improve their margins and profits quickly. The air-bag unit is not among those that would be sold, it said. TRW, which also makes space and defense products and information systems, also said it will repurchase $175 million of its stock this year, continuing a buyback program begun in 1996.
* Home Depot Inc. agreed to buy Molson Cos.’ 25% stake in their retail joint venture formed in 1994 for $262 million, giving it complete ownership of the home-improvement chain in Canada. Molson has said it wants to get out of its retailing and return to its roots as a beer maker.
* Chase Manhattan Corp. will buy Marine Midland Bank’s co-branded Continental Airlines credit card portfolio for undisclosed terms, pursuing its expansion in the credit card business.
* The Commodity Futures Trading Commission increased the penalty against former New York Mercantile Exchange Chairman Lou Guttman for his role several years ago in an illegal sugar-trading scheme, banning him from ever again trading in U.S. futures markets.