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Warner-Lambert Co. shares fell $2.56, or 3.3%, to $75.88 on the NYSE, after The Times reported that the pharmaceutical and consumer health-care company’s top-selling Rezulin diabetes drug has been linked to the deaths of 33 patients. Both Warner-Lambert and the Food and Drug Administration said they continue to believe the drug is safe when used properly.

* Amerada Hess Corp. said it will slash capital expenditures, cut oil exploration and production spending by 40% and cut 400 jobs, or 20% of its work force, resulting in a $150-million after-tax charge in the fourth quarter. The independent oil and gas company expects to save $18 million annually from the cuts.