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CONTINENTAL, PILOTS REACH ACCORD

Continental Airlines and its pilots' union reached a tentative agreement Wednesday on the company's first contract with its 3,800 pilots in 12 years. The contract, once ratified by the union, would give pilots an 18.5 percent pay raise over two years.

MARKET FLUTTERS ON MICROSOFT REPORT. In a stunning display of one product's influence on the stock market, the Dow Jones industrial average fell 22 points late Wednesday on a report that Microsoft Corp. would delay shipment of its new Windows 95 software to computer makers. The Dow recovered quickly as the report, which appeared on a financial newswire citing one anonymous source, turned out to be less significant than first thought.

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