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SHULTZ USSR TRIP FUELS TALK OF EEP WHEAT OFFER
| Speculation the United States will
offer subsidized wheat to the Soviet Union appears to have
reached a new level of intensity in the run-up to Secretary of
State George Shultz' visit later this month to Moscow.
Rumors of an impending deal have coursed through wheat
markets since officials from the two ... | Corporate News |
KAINES CONFIRMS WHITE SUGAR SALES TO INDIA
| London-based sugar operator Kaines Ltd
confirmed it sold two cargoes of white sugar to India out of an
estimated overall sales total of four or five cargoes in which
other brokers participated.
The sugar, for April/May and April/June shipment, was sold
at between 214 and 218 dlrs a tonne cif, it said.
... | Market and Economy |
<THL HOLDINGS INC> YEAR JAN 31 NET
| Oper net 94.4 mln vs 74.1 mln
Revs 1.3 bilion vs 1.2 billion
NOTE: THL is parent to SCOA Industries Inc, acquired in a
leveraged buyout in December 1985.
| Corporate News |
MOUNTAIN STATES ADDS TWO MINERALS PROPERTIES
| Mountain States Resources Corp
said it acquired two properties to add to its strategic
minerals holdings.
The acquisitions include a total of 5,100 acres of
titanium, zirconium and rare earth resources, the company said.
Both properties, located in southern Utah, consist of
approximately 1,430 acr... | Financial Reports |
RESTORATION OF COFFEE EXPORT QUOTAS BEFORE
| OCTOBER SEEMS UNLIKELY - ICO PRODUCER DELEGATES
RESTORATION OF COFFEE EXPORT QUOTAS BEFORE
OCTOBER SEEMS UNLIKELY - ICO PRODUCER DELEGATES
| Corporate News |
SHULTZ USSR TRIP FUELS TALK OF EEP WHEAT OFFER
| Speculation the United States will
offer subsidized wheat to the Soviet Union appears to have
reached a new level of intensity in the run-up to Secretary of
State George Shultz' visit later this month to Moscow.
Rumors of an impending deal have coursed through wheat
markets since officials from the two ... | Commodities and Trade |
ROSTENKOWSKI OPPOSES PROTECTIONIST TRADE BILL
| House Ways and Means Committee
Chairman Dan Rostenkowski said Congress must avoid a temptation
to pass a protectionist trade bill this year.
In remarks prepared for delivery before the National Press
Club, Rostenkowski, D-Ill., predicted major trade legislation
will be sent to President Reagan by the en... | Market and Economy |
FREDDIE MAC ADJUSTS SHORT-TERM DISCOUNT RATES
| The Federal Home Loan Mortgage Corp
adjusted the rates on its short-term discount notes as follows:
MATURITY RATE OLD RATE MATURITY
32 days 6.00 pct 6.10 pct 1 day
| Corporate News |
ICO QUOTAS BEFORE OCTOBER UNLIKELY - DELEGATES
| The restoration of coffee export quotas
before the end of the current 1986/87 coffee year (Oct 1/Sept
30) now seems unlikely, given reluctance by International
Coffee Organization, ICO, producers and consumers to resume
negotiations on an interim quota accord, producer delegates
told reporters.
Consum... | Financial Reports |
(GEOFFRION LECLERC INC) SIX MTHS NET
| Shr 39 cts vs 26 cts
Net 3,466,000 vs 1,913,000
Revs 27.7 mln vs 19.4 mln
Note: period ended February 28. REUTER
| Commodities and Trade |
FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES
| The Federal Home Loan Bank Board
adjusted the rates on its short-term discount notes as follows:
MATURITY NEW RATE OLD RATE MATURITY
5.00 pct 30-69 days
5.92 pct 70-88 days
30-123 days 5.00 pct 5.00 pct 89-123 days
124-150 days 5.93 p... | Commodities and Trade |
TOWLE MANUFACTURING CO <QTOW> YEAR LOSS
| Oper shr loss 4.71 dlrs vs loss 14.09 dlrs
Oper loss 22 mln vs loss 67.2 mln
NOTE: 1986 loss excludes gain on the sale of Gold Lance
Corp of 12.1 mln dlrs. Company is operating under chapter 11.
| Financial Reports |
DELTA AIR LINES COMPLETES ACQUISITION OF WESTERN AIR
|
DELTA AIR LINES COMPLETES ACQUISITION OF WESTERN AIR
| Financial Reports |
TREASURY'S BAKER SAYS HE HOPES PRIME RATE INCREASES
| TEMPORARY
TREASURY'S BAKER SAYS HE HOPES PRIME RATE INCREASES
TEMPORARY
| Corporate News |
SOUTH ATLANTIC FINANCIAL CORP <SOAF> 4TH QTR
| Shr 12 cts vs 33 cts
Net 699,037 vs 1,349,077
Year
Shr 54 cts vs 55 cts
Net 2,748,280 vs 1,833,766
NOTE: Per shr amounts reported after preferred stock
dividend requirements.
| Commodities and Trade |
CYPRUS LOWERS COPPER PRICE 1.25 CTS TO 67 CTS
| Cyprus Minerals Company said it is
decreasing its electrolytic copper cathode price by 1.25 cents
to 67.0 cents a pound, effective immediately.
| Commodities and Trade |
TREASURY'S BAKER HOPES PRIME RATE RISE TEMPORARY
| Treasury Secretary James Baker said
he hopes yesterday's small increase in two major money center
banks' prime rate was a temporary phenomenon.
"I hope it was a temporary blip upward," he told a House
Appropriations subcommittee.
He said the decline in interest rates since President
Reagan took of... | Commodities and Trade |
DELTA <DAL> COMPLETES WESTERN AIR <WAL> BUY
| Delta Air Lines Inc said it completed
the acquisition of Western Air Lines Inc this morning.
The action follows U.S. Supreme Court Justice Sandra Day
O'Connor's overnight granting of Delta and Western's request to
stay an earlier injunction against the deal issued by the U.S.
Court of Appeals for the Ni... | Corporate News |
IMTEC <IMTC> GETS MERGER OFFER
| Imtec Inc said some
shareholders of Computer Identics Inc <CIDN> have proposed a
merger of the two companies.
The company said the shareholders had previously expressed
dissatisfaction with Computer Identics' management and had
informed Computer Identics that the present board no longer had
the sup... | Corporate News |
AMERICAN OIL AND GAS CORP <AOG> 4TH QTR LOSS
| Shr loss 34 cts vs loss 2.14 dlrs
Net loss 2,275,000 vs loss 9,560,000
Revs 17.0 mln vs 19.9 mln
Year
Shr loss 49 cts vs loss 2.11 dlrs
Net loss 2,661,000 vs loss 9,283,000
Revs 73.5 mln vs 93.6 mln
NOTE: Results have been restated to reflects equity
investment in WellTe... | Other |
MACANDREWS/FORBES UNIT BEGINS OFFER TO BUY ALL REVLON
| GROUP NOT ALREADY OWNED
MACANDREWS/FORBES UNIT BEGINS OFFER TO BUY ALL REVLON
GROUP NOT ALREADY OWNED
| Commodities and Trade |
<NEWPARK RESOURCES INC> YEAR ENDED DEC 31 LOSS
| Oper shr loss 1.99 dlr vs loss 4.88 dlrs
Oper net loss 29.1 mln vs 70.8 mln
Revs 34.8 mln vs 84.8 mln
NOTE: 1986 and 1985 oper net excludes a loss of 5.5 mln
dlrs or 37 cts a share and 64.6 mln dlrs or 4.43 dlrs a share,
respectively, for discontinued operations.
1986 net also excludes a g... | Other |
TIERCO GROUP INC <TIER> YEAR ENDED DEC 31 LOSS
| Shr loss 72 cts vs loss 1.57 dlr
Net loss 1,526,359 vs loss 3,315,834
Revs 8,032,798 vs 7,276,517
| Corporate News |
MICRODYNE CORP <MCDY> SETS PAYOUT
| Semi div three cts vs three cts prior
Pay June 12
Record May 15
| Corporate News |
FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES
| The Federal Home Loan Bank Board
adjusted the rates on its short-term discount notes as follows:
MATURITY NEW RATE OLD RATE MATURITY
30-123 days 5.00 pct 5.00 pct
30-123 days
124-150 days 5.90 pct ... | Market and Economy |
CROWNAMERICA INC <CRNA> 2ND QTR ENDED FEB 28
| Shr two cts vs 29 cts
Net 23,000 vs 338,000
Revs 20.2 mln vs 21.5 mln
Six mths
Shr 64 cts vs 97 cts
Net 741,000 vs 1,113,000
Revs 43.2 mln vs 44.3 mln
NOTE: 1986 2nd qtr and six mths ended March one.
| Corporate News |
DIAMOND SHAMROCK <DIA> SEES BETTER 1987 EARNINGS
| Diamond Shamrock Corp, which will split
this month into two separate companies, expects to show
improved earnings in 1987 over last year, executives of the new
company told Reuters.
Charles Blackburn, president and chief executive officer of
Diamond Shamrock and the new company, which will emphasize
e... | Financial Reports |
VMS STRATEGIC <VLANS> SETS INITIAL DIVIDEND
| VMS Strategic Land Trust said it
delcared an initial quarterly cash dividend of 30 cts a share,
payable May 15 to shareholders of record April 20.
The company also said that effective today it will be
trading on the NASDAQ system under the symbol <VLANS>.
| Corporate News |
BETHLEHEM STEEL <BS> SETS PLATE PRICE INCREASES
| Bethlehem Steel Corp said its
base price for carbon plates and high-strength and low-alloy
plates will be increased by 25 dlrs to 405 dlrs a short ton,
effective July one.
The company said its composite prices for alloy plates will
also be increased 25 dlrs per ton on the same date, adding it
does not... | Industrial and Sector News |
EQUICOR SEES YEAR REVENUES TO TOP TWO BILLION
| Equicor, Equitable HCA Corp,
said that the company will likely attain revenues in excess of
two billion dlrs in its first year of operations.
The company, created last October with initial equity of
400 mln dlrs, is owned equally by the Equitable Life Assurance
Society of the U.S. and Hospital Corp of A... | Corporate News |
MACANDREWS/FORBES BEGINS REVLON <REV> OFFER
| MacAndrews and Forbes Group Inc said it
began an 18.50-dlr-a-share cash offer for all common stock of
Revlon Group Inc it does not already own.
The offer, which is being made by a wholly owned
subsidiary, Revmac Acquisition Corp, is subject to financing
and at least 28.5 mln shares being tendered, the c... | Financial Reports |
KAY JEWELERS INC <KJI> 4TH QTR NET
| Shr 1.62 dlrs vs 1.33 dlrs
Net 10.3 mln vs 8,459,000
Revs 127.5 mln vs 95.7 mln
Year
Shr 1.52 dlrs vs 1.20 dlrs
Net 9,669,000 vs 7,481,000
Revs 278.1 mln vs 232.00 mln
| Corporate News |
ARCO <ARC> UP ON HIGHER EARNINGS ESTIMATE
| Atlantic Richfield Co's stock rose
sharply after analyst Eugene Nowak of Dean Witter Reynolds Inc
raised his earnings estmates of the company, traders said.
ARCO jumped 1-3/4 to 81-3/4.
Nowak said that based on an average oil price of 17 dlrs a
barrel in 1987, the company should earn about 4.50 dlrs... | Financial Reports |
U.S. SAID PROMISED BULK OF MAIZE EXPORT TO SPAIN
| The U.S. Has been promised a near
monopoly of maize exports to Spain from third countries
guaranteed under an agreement with the European Community, an
EC official said.
The official, who asked not to be named, told Reuters that
the guarantee was given in an unpublished clause of the
agreement.
... | Financial Reports |
DEAK INTERNATIONAL BUYS JOHNSON MATTHEY
| Deak International, a foreign currency
and precious metals firm, announced the acquisition of Johnson
Matthey Commodities of New York from Minories Finance Limited,
a unit of the Bank of England.
The purchase valued at 14.8 mln dlrs follows the recent
acquisition of London's Johnson Matthey Commodities ... | Commodities and Trade |
WALL STREET STOCKS/PUROLATOR COURIER <PCC>
| Purolator Courier Corp stock jumped
5-3/8 on a 40 dlr per share takeover offer from Emery Air
Freight Corp <EAF>, traders said.
Purolator was trading at 40-1/4, 1/4 above the offer price.
The Emery offer tops a 35 dlr per share buyout agreement E.F.
Hutton LBO Inc reached with Purolator February 27.
... | Corporate News |
ARGENTINE CORN SALES TO USSR LOWER - USDA REPORT
| Total corn sales by Argentina to the
Soviet Union are only 1.5 to 1.8 mln tonnes, with delivery
spread out from March to June, the U.S. Agriculture
Department's Counselor in Buenos Aires said in a field report.
The report, dated March 27, said many sources have stated
that the Soviet Union was initially... | Corporate News |
BARNES GROUP <B> EXPECTS SALES TO GROW MODESTLY
| Barnes Group said it expects
sales and net income for 1987 will be up slightly over 1986.
Without supplying specific figures, Barnes told
shareholders at its annual meeting it expected net income to
improve at a rate exceeding its growth in sales, which was two
pct higher than 1985.
The company sa... | Commodities and Trade |
ROADWAY MOTOR PLAZAS INC 3RD QTR JAN 31
| SHr two cts vs one cts
Net 116,843 vs 41,400
Revs 17.3 mln vs 12.3 mln
Nine months
SHr 15 cts vs 10 cts
Net 639,448 vs 301,000
REvs 37.6 mln vs 35.8 mln
| Market and Economy |
DIONICS INC <DION> YEAR NET
| Shr seven cts vs 10 cts
Net 127,000 vs 168,100
Revs 2,807,400 vs 3,042,900
| Other |
WINN-DIXIE STORES INC <WIN> SETS MONTHLY PAYOUT
| Mthly div 15 cts vs 15 cts prior
Pay April 30, May 29, June 24
Record April 15, May 15, June 10
| Other |
WAXMAN INDUSTRIES INC <WAXM> REGULAR PAYOUT
| Qtly div class A two cts vs two cts prior
Qtly div class B one ct vs one ct prior
Pay April 17
Record April 10
| Financial Reports |
DEAK BUYS JOHNSON MATTHEY COMMODITIES
| Deak International, a foreign currency
and precious metals firm, announced the acquisition of Johnson
Matthey Commodities of New York from Minories Finance Limited,
a unit of the Bank of England.
The purchase valued at 14.8 mln dlrs follows the recent
acquisition of London's Johnson Matthey Commodities ... | Commodities and Trade |
ICO PACT UNLIKELY BY AUTUMN - ITALIAN ADVISER
| The prospects of the
International Coffee Organization (ICO) reaching an agreement
on coffee export quotas before September appear dim, Alberto
Hesse, former president of the European Coffee Federation,
said.
"There is no real goodwill in certain delegations to go to
quotas," Hesse, who advises the It... | Financial Reports |
IIF EXECUTIVE SEES INTEREST RATES DECLINING
| Institute of International Finance
Managing Director Horst Schulmann said that his orgnaization
has been forecasting further declines of interest rates in the
first half this year and then a levelling off and there is no
reason to change that.
Speaking to reporters, the bank research group said that
t... | Financial Reports |
JAPANESE CRUSHERS BUY CANADIAN RAPESEED
| Japanese crushers bought 5,000 to 6,000
tonnes of Canadian rapeseed for May shipment in export business
overnight, trade sources said.
| Financial Reports |
WALKER TELECOMMUNICATIONS CORP <WTEL> 4TH QTR
| Shr loss 58 cts vs loss nil
Net loss 2.9 mln vs loss 17,818
Revs 5.0 mln vs 7.4 mln
Year
Shr loss 45 cts vs profit four cts
Net loss 2.0 mln vs profit 174,562
REvs 28.5 mln vs 25.2 mln
NOTE:1986 4th qtr loss includes loss of 2.2 mln dlrs from
discontinuance of operati... | Corporate News |
BROKERS SECURITIES INC <BKRS> 4TH QTR LOSS
| Shr loss 16 cts vs profit 23 cts
Net loss 97,600 vs profit 91,980
Revs 302,745 vs 359,699
Avg shrs 621,036 vs 388,536
Year
Shr profit seven cts vs profit 36 cts
Net profit 36,400 vs profit 140,980
Revs 1,610,286 vs 763,071
Avg shrs 512,235 vs 388,536
Note: Y... | Corporate News |
FIRST WORLD CHEESE INC <FWCH> 4TH QTR LOSS
| Shr loss 15 cts vs profit nil
Net loss 392,428 vs profit 1,255
Revs 6,371,092 vs 3,031,091
Avg shrs 2,544,000 vs 1,440,000
Year
Shr loss 13 cts vs profit seven cts
Net loss 274,951 vs profit 100,534
Revs 18.1 mln vs 10.8 mln
Avg shrs 2,072,153 vs 1,440,000
| Financial Reports |
WALL STREET STOCKS/ANACOMP INC <AAC>
| Anacomp Inc, one of the most actively
traded NYSE issues, rose today as at least one analyst expected
earnings to be boosted by its planned acquisition of a
micrographics company.
Anacomp rose 1/2 to 6-3/4 on volume of 950,000 shares after
trading as high as seven earlier.
Howard Harlow, analyst a... | Financial Reports |
YUGOSLAV RETAIL PRICES UP 7.0 PCT IN MARCH
| Yugoslav retail prices in March rose
7.0 pct from February, to stand 93.2 pct higher than in March
1986, Federal Statistics Office (FSO) figures show.
In February, retail prices rose 7.2 pct from January to
stand 91.6 pct higher than in February 1986.
The cost of living, which includes rents and cos... | Financial Reports |
GRAIN SHIPS WAITING AT NEW ORLEANS
| Ten grain ships were loading and 18
were waiting to load at New Orleans elevators, trade sources
said.
ELEVATOR LOADING WAITING
Continental Grain, Westwego 1 3
Mississippi River, Myrtle Grove 2 0
ADM Growmark 1 4
Bunge Grain, Destrehan ... | Financial Reports |
J.C. PENNEY <JCP> TO BUY EQUITY IN BEEBA'S
| J.C. PEnney Co Inc said it signed a
letter of intent to acquire one mln shares, or a 20 pct equity
interest, of Beeba's Creations Inc <BEBA> for 18.75 dlrs a
share.
Penney said the agreement also calls for Beeba's, a major
supplier of junior sportswear, to work with Penny in the
establishment of ju... | Corporate News |
AUSTRIAN BANKS DIVIDED OVER INTEREST RATE CUT
| Calls for a cut in Austrian interest
rates have grown in recent days but bank chiefs are divided
over the issue.
Karl Vak, General Director of the Zentralsparkasse und
Kommerzialbank, Wien, called today for a cut of up to half a
percentage point in interest rates across the board. But Hannes
Androsch,... | Other |
A.G. EDWARDS INC <AGE> 4TH QTR FEB 28 NET
| Shr 81 cts vs 63 cts
Net 16,900,000 vs 13,100,000
Revs 152.5 mln vs 118.1 mln
Year
Shr 2.59 dlrs vs 1.85 dlrs
Net 53,700,000 vs 38,100,000
Revs 526.3 mln vs 404.3 mln
NOTE: Prior year earnings reflect a three-for-two stock
split distributed in May, 1986
| Corporate News |
PERIPHERAL SYSTEMS <PSIX> AGRESS TO BUY COMPANY
| Peripheral Systems Inc said it
agreed in principle to acquire the outstanding shares of
<Nucell Inc>.
The agreement calls for an exchange of one share of
Peripheral for each share of Nucell, subject to approval by
both companies' boards, it said.
Peripheral said its increased involvement in the... | Corporate News |
CORRECTED - LIFETIME<LFT> TO BUY NIPPON LACE SAHRES
| Lifetime Corp said it agreed to buy
five mln shares or 16 pct of <Nippon Lace Co Ltd> for 3.28 dlrs
a share, or 16.5 mln dlrs.
It said it plans to enter the health care business in
Japan.
In addition, it said <Koba Electronics Co Ltd>, an
affiliate of Nippon, will buy four mln unissued share... | Corporate News |
MANUFACTURERS NATIONAL <MNTL> UNIT LIFTS RATE
| Manufacturers National Corp's
Manufacturers Bank-Wilmington said it increased the interest
rate on its no-fee variable rate MasterCard to 13.6 pct from
13.3 pct.
The new interest rate applies to the second quarter. The
rate on the card is set quarterly.
| Corporate News |
FIRST CHICAGO <FNB> UNIT BUYS BANKS
| First Chicago Corp's American National
Bank unit said it completed the acquisition of four suburban
Chicago banks with combined assets of about 231 mln dlrs.
The banks are National Bank of North Evanston, Elgin
National bank, First National Bank of Schiller Park and
Merchants and Manufacturers State Ban... | Financial Reports |
CENTERRE <CTBC> ACQUIRES BENEFIT PLAN SERVICES
| Centerre Bancorp said it completed the
acquisition of Benefit Plan Services Inc, Maryland Heights,
Mo., which specializes in designing and administering small and
moderately sized pension plans.
Terms were not disclosed.
| Financial Reports |
CONOLOG CORP <CNLG> 2ND QTR JAN 31 NET
| Shr two cts vs two cts
Net 69,831 vs 107,773
Revs 1,068,905 vs 2,401,518
Six mths
Shr three cts vs three cts
Net 129,649 vs 155,089
Revs 2,673,141 vs 4,666,104
| Corporate News |
CHINESE PORK OUTPUT SEEN LOWER -- USDA
| High feed prices will cause the
Chinese to reduce hog herd growth and pork production this
year, the U.S. Agriculture Department said.
In its World Production and Trade Report, the department
said hog numbers at the start of 1987 were estimated at 331.6
mln head, up slightly from 1986, and 10 mln head a... | Corporate News |
U.K. EXPORTS BODY GETS NEW EXECUTIVE DIRECTOR
| Export Credits Guarantee Department has
named Malcolm Stephens, director of export finance at Barclay's
Bank Plc and a former career civil servant at ECGD for 17
years, to the post of executive director, a department
spokesman said.
Stephens replaces Jack Gill, who is retiring early aged 57.
A dro... | Financial Reports |
BANKERS TRUST <BT> RAISES PRIME LENDING RATE
| Bankers Trust Co said it has raised its
prime lending rate to 7-3/4 pct from 7-1/2, effective
immediately.
This move is the latest in a series of similar actions by
leading U.S. money center banks, including Citibank NA and
Chase Manhattan Bank NA, over the last 24 hours.
AmeriTrust Corp of Ohio a... | Commodities and Trade |
BOATMEN'S NATIONAL BANK <BOAT> RAISES PRIME
| Boatmen's Bancshares said its
Boatmen's National Bank raised the prime rate to 7-3/4 pct from
7-1/2 pct, effective immediately.
| Financial Reports |
UNICORP VOTING STAKE HIKED IN UNION ENTERPRISES
| <Union Enterprises Ltd> said holders of
7.2 mln or 80 pct of its class A series one preferred shares
requested to retract their shares under terms of the issue,
thus raising <Unicorp Canada Corp>'s voting stake in Union to
58 pct from 50.
Union said it paid about 90 mln dlrs on April 1 for the
r... | Financial Reports |
OILS/FATS STOCKS SEEN FALLING SHARPLY IN 1986/87
| Visible stocks of 17 oils and fats are
probably peaking now and are likely to fall sharply by October
1 this year, the Oil World newsletter said.
Oil World forecast that stocks of oils and fats may be cut
to only 9.8 mln tonnes at the end of this season, compared with
10.6 mln a year earlier.
Its ... | Financial Reports |
STARRETT HOUSING CORP <SHO> 4TH QTR NET
| Oper shr 20 cts vs eight cts
Oper net 1,869,000 vs 957,000
Revs 41.0 mln vs 22.9 mln
Year
Oper shr 52 cts vs 53 cts
Oper net 5,386,000 vs 5,147,000
Revs 116.8 mln vs 98.3 mln
Note: Oper excludes extraordinary reserves related to
arbitration of Iranian claims of 2,062,000 vs... | Financial Reports |
FIRST WISCONSIN NAT'L BANK<FWB> HIKES PRIME RATE
| First Wisconsin National Bank said it
has raised its prime rate to 7-3/4 pct from 7-1/2 pct,
effective today.
| Other |
GAC LIQUIDATING TRUST <GACTZ> SETS CASH PAYOUT
| Unit distribution one dlr vs 1.75 dlrs prior
pay June one
Record May one
Note: Prior distribution declared in April 1986.
| Commodities and Trade |
WRATHER CORP <WCO> 4TH QTR LOSS
| Shr loss 53 cts vs loss 55 cts
Net loss 3,865,000 vs 3,963,000
Revs 24.2 mln vs 26.8 mln
Year
Shr loss 1.21 dlrs vs profit 56 cts
Net loss 8,758,000 vs profit 4,040,000
Revs 108.5 mln vs 113.8 mln
Note: Prior qtr figures include income from discontinued
operations of 10,... | Corporate News |
EC SUGAR IMPORT LEVIES
| The following import levies for white
and raw sugar are effective tomorrow, in European currency
units (ecu) per 100 kilos.
White sugar, denatured and non-denatured 51.94 versus 51.36
previously.
Raw sugar, denatured and non-denatured 44.05 versus 43.69
previously.
The rate for raws is based... | Commodities and Trade |
MURPHY OIL CORP <MUR> SETS REGULAR DIVIDEND
| Qtly div 25 cts vs 25 cts prior
Pay June one
Record May 15
| Corporate News |
COLOMBIA TRADERS SAY NEW COFFEE STRATEGY VITAL
| Coffee producing countries must quickly
map out a fresh common strategy following the failure of the
International Coffee Organization, ICO, to reach agreement on
export quotas, Gilberto Arango, president of Colombia's private
coffee exporters' association, said.
Arango told Reuters that the most intell... | Financial Reports |
LAWSON WANTS STERLING AROUND 1.60 DLRS, 2.90 MKS
| U.K. Chancellor of the Exchequer Nigel
Lawson said he wanted sterling to stay roughly where it was,
specifying a rate of around 2.90 marks and 1.60 dlrs.
He told the National Economic Development Council that the
recent Paris meeting of major industrialised nations had agreed
on the need for exchange ra... | Corporate News |
NEW VENEZUELA DEBT INTEREST RATE GOES INTO EFFECT
| The new interest rate of 7/8 pct over
Libor on Venezuelan public sector debt payments goes into
effect today, Finance Minister Manuel Azpurua said .
Azpurua told reporters yesterday the reduction from the
previous margin of 1-1/8 pct above Libor will save the country
some 50 mln dollars in debt servicin... | Commodities and Trade |
SUNTRUST BANKS <STI> RAISES PRIME TO 7-3/4 PCT
| SunTrust Banks said that Sun Banks in
Florida and Trust Co banks in Georgia have raised their prime
rate to 7-3/4 pct from 7-1/2 pct.
The company said the action is effective immediately.
| Financial Reports |
HORN/HARDART <HOR> UNIT DISPOSES 33 RESTAURANTS
| Horn and Hardart Co said it
disposed of 33 Bojangles' Chicken 'N Biscuits restaurants in
Florida as part of its previously announced retrenchment of its
Bojangles' subsidiary.
Terms were not disclosed.
The company said the restaurants in Orlando, Tampa and
Jacksonville markets have incurred the ma... | Corporate News |
MULTIBANK FINANCIAL CORP <MLTF> IN PAYOUT
| Qtly div 13 cts vs 13 cts prior
Pay April 20
Record April 10
| Financial Reports |
TENDER LOVING <TLCI>, STAFF <STAF> EXTEND PACT
| Tender Loving Care Health Care
Services Inc said it and Staff Buildiers Inc have extended the
term of their merger agreement until May 31.
Tender Loving Care also said <Norrell Corp> agreed not to
acquire any additional Staff Builders shares until September
30, adding Norrell was paid 750,000 dlrs fo... | Financial Reports |
FIRST BANK SYSTEMS <FBS> UNITS HIKE RATE
| First Bank Minneaplois and First
Bank Saint Paul, both units of First Bank Systems Inc, said
they raised their reference rates to 7-3/4 pct from 7-1/2 pct.
| Commodities and Trade |
CHEMICAL FABRICS <CMFB> AGREEMENT TERMINATED
| Chemical Fabrics Corp said an
agreement in principle under which OC Birdair Inc would have
purchased assets related to the architectural structures
business of Dow Corning corp's ODC Inc division has been
terminated.
Under that agreement, Chemical Fabrics would also have
become distributor of Dow Corn... | Other |
SIS <SISB> COMPLETES WENDY'S <WEN> UNIT BUY
| SIS Corp said it has completed
the acquisition of its franchisor Sisters International Inc
from Wendy's International Inc for 14.5 mln dlrs in stock.
It said the purchase includes 35 restaurants in Ohio
operates by Sisters, giving SIS a total of 55 restaurants, and
franchise relationships in six Midwest... | Financial Reports |
BRITISH SUGAR SOWINGS OFF TO SLOW START
| Drilling of this year's British sugar
beet crop got off to a slow start due to poor weather
conditions with only around one pct sown so far, a spokesman
for British Sugar Plc said.
This compares with two pct at the same stage last year,
three pct in 1985 and 38 to 39 pct in 1984.
There is little c... | Market and Economy |
CURRENCY INTERVENTION TIMING CRUCIAL - ANALYSTS
| The dollar's recent decline, despite
massive central bank purchases, is a forceful reminder that
official intervention in the foreign exchanges can work only if
it is well-timed to coincide with shifts in market fundamentals
or sentiment, dealers and analysts said.
Central banks may succeed in slowing a... | Market and Economy |
CANADIAN TIRE MAJOR HOLDERS NOT EXTENDING PACT
| CTC Dealer Holdings Ltd said <Canadian
Tire Corp Ltd> controlling shareholders Alfred, David and
Martha Billes did not extend an agreement expiring yesterday to
tender their shares only to CTC's previously reported offer for
49 pct of Canadian Tire common shares.
CTC, which already holds 17.4 pct of ... | Other |
HUTTON LBO EXTENDS EXPIRATION FOR 35 DLR/SHR OFFER FOR
| PUROLATOR TO APRIL 6 FROM TODAY
HUTTON LBO EXTENDS EXPIRATION FOR 35 DLR/SHR OFFER FOR
PUROLATOR TO APRIL 6 FROM TODAY
| Corporate News |
CONRAC SAYS IT IS MULLING RESTRUCTURING OR BUYOUT AS
| ALTERNATIVES
CONRAC SAYS IT IS MULLING RESTRUCTURING OR BUYOUT AS
ALTERNATIVES
| Financial Reports |
CHIRAC SAYS FRANCE RESOLVED TO SUPPORT CURRENCY PACT
| French Prime Minister Jacques Chirac
said that on financial issues, the United States and France had
"very close" views, and he said Treasury Secretary James Baker
was determined to support the February 22 Paris agreement on
stabilizing foreign exchange parities.
"I was very reassured by the determinati... | Other |
CONRAC <CAX> EXPLORING RESTRUCTURING, BUYOUT
| Conrac Corp, whose board has
rejected a 25 dlr a share tender offer from Mark IV Industries
Inc <IV>, said it is exploring alternatives such as a
restructuring, leveraged buyout or takeover of the company.
In a filing with the Securities and Exchange Commission,
Conrac said its board of directors au... | Corporate News |
MORE U.S. BANKS JOIN IN PRIME RATE CUT
| Chemical Bank, the main bank subsidiary
of Chemical New York Corp, and Marine Midland Banks Inc said
they were raising the prime lending rate to 7-3/4 pct from
7-1/2 pct, effective immediately.
In St Louis, Mercantile Bancorp said its Mercantile Bank
N.A. was also raising its prime rate to 7-3/4 pct fro... | Industrial and Sector News |
CONVEST ENERGY PARTNERS LTD <CEP> 4TH QTR LOSS
| Shr loss 2.65 dlrs vs loss 2.31 dlrs
Net loss 14.3 mln vs loss 12.5 mln
Revs 2,887,000 vs 5,321,000
Year
Shr loss 4.38 dlrs vs loss 2.50 dlrs
Net loss 23.7 mln vs loss 13.5 mln
Revs 13.2 mln vs 22.4 mln
NOTE: 1986 net includes oil and natural gas writedowns of
12.1 mln dlrs... | Corporate News |
SOVIET SOYMEAL IMPORTS SEEN RISING IN 1987
| Soviet imports of soymeal may reach or
exceed one mln tonnes between January and September this year,
the Oil World newsletter said.
Oil World said it was likely the Soviet Union would reduce
soybean imports and step up significantly its imports of meal.
At least 500,000 tonnes of soymeal may be shi... | Corporate News |
<DYLEX LTD> YEAR JAN 31 NET
| Shr 51 cts vs one dlr
Net 25.1 mln vs 46.8 mln
Sales 1.21 billion vs 1.08 billion
Note: 1986 excludes extraordinary gain of 1.1 mln dlrs, or
two cts per share, from public issue of affiliate's shares.
| Financial Reports |
ICO TALKS SET TO END WITH NO QUOTA DEBATE
| The International Coffee Organization
executive board meeting will end tomorrow without any move to
reopen the debate on restoring coffee export quotas, delegates
said.
Talks have focused on administrative matters and
verification of stocks in producer countries, they said.
Producers met briefly t... | Corporate News |
INTERNATIONAL SEAWAY TRADING CORP <INS> YEAR
| Oper shr 64 cts vs 97 cts
Oper net 845,000 vs 1,285,000
Revs 20.0 mln vs 23 mln
NOTE: 1986 and 1985 oper net excludes gain of 315,000 dlrs
and 585,000 dlrs, respectively, for extraordinary item.
| Market and Economy |
CALLON PETROLEUM CO <CLNP> 4TH QTR LOSS
| Shr loss 40 cts vs loss 4.72 dlrs
Net loss 3,321,000 vs loss 42.0 mln
Revs 4,002,000 vs 7,788,000
Avg shrs 9,168,522 vs 8,974,355
Year
Shr loss 4.20 dlrs vs loss 4.71 dlrs
Net loss 37.2 mln vs loss 41.1 mln
Revs 18.4 mln vs 34.1 mln
Avg shrs 9,168,522 vs 8,991,184
| Financial Reports |
COUNTY SAVINGS BANK <CSBA> SETS STOCK DIVIDEND
| County Savings Bank said
its board declared a five pct stock dividend, payable April 10
to shareholders of record today.
| Corporate News |
E.F.HUTTON <EFH> EXTENDS PUROLATOR <PCC> OFFER
| E.F. Hutton Group's E.F. Hutton LBO Inc
unit said it extended the expiration date for its 35 dlr per
share tender offer for Purolator Courier corp to midnight EST
April six from midnight April one.
E.F. Hutton lbo inc said its wholly owned PC Acquisition
Inc subsidiary, which is the entity making the of... | Corporate News |
BANKAMERICA <BAC> TO POST GAIN ON UNIT SALE
| BankAmerica Corp said it completed
the sale of its Consumer Trust Services division to Well Fargo
and Co <WFC>, a transaction that will result in a second
quarter pre-tax gain of more than 75 mln dlrs.
The sale will not affect the services the bank will
continue providing to institutional customers t... | Financial Reports |
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