Also. . .

* AlliedSignal Inc., maker of aerospace products and chemicals, said it will buy back as much as $2.2 billion, or 9.5%, of its shares over two years because the stock is cheap and acquisition opportunities are getting too pricey. The firm will finance the repurchase, its first not related to an employee stock plan or acquisition, with cash from its operations. Last year it had $400 million in cash flow after capital spending; it expects $500 million for 1998.

* Walt Disney Co. is teaming with Japan’s Sony Corp. to make “Tarzan” and other video games exclusively for Sony’s PlayStation, a move that could give Sony a leg up in its battle with Nintendo Co. The games also include “A Bug’s Life,” based on a Disney film produced with Pixar Inc.

* Montgomery Ward & Co. plans to close nine more department stores in seven states, not including California, and fire about 793 employees as part of a bankruptcy reorganization plan to retain only its most profitable stores. The 125-year-old company will operate 291 stores after the closings.

* Dow Jones & Co., publisher of the Wall Street Journal, said it will buy back as much as $300 million of its shares and take a $98-million second-quarter charge as it completed the sale of its financial information unit to Bridge Information Systems Inc.

* U.S. Filter Corp., a Palm Desert-based company, said it acquired closely held Fullman International Inc. for an undisclosed price, expanding its industrial piping business as it seeks to offer one-stop shopping for water-treatment systems.