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COLOMBIA TO SELL SUGAR, LONDON TRADERS SAY
| Colombia is holding a snap selling tender
tonight for one cargo of world market raw sugar, traders said.
The sugar is for March 15/April 15 shipment and bids are
being sought based on the New York May delivery futures
contract, they added.
| Financial Reports |
HEAVY RAINS DAMAGE ARGENTINE COARSE GRAINS CROP
| Fresh, heavy rains caused further
damage to the Argentine 1986/87 coarse grains crop in the week
to yesterday, particularly in Buenos Aires province, trade
sources said.
They said the sunflower, maize, soybean and sorghum crops
were damaged and yield estimates affected. New production
forecasts were m... | Corporate News |
LONDON GRAIN FREIGHT ENQUIRIES
| Rio Grande/Azores and Leixoes 26,000 mt
hss 14 dlrs basis one to two 4,000/1,500 Azores and 3,500
Leixoes 25/4-5/5.
Paranagua/one-two ports Spanish Med 35,000 mt hss 11.50
dlrs basis one to one 10 days all purposes 20-30/4.
USG/Taiwan 54,000 mt hss 10,000 shex/4,000 shex 20/4-5/5.
USG/ARA-Ghen... | Financial Reports |
LONDON METAL FREIGHTS
| Rotterdam/Karachi
20,000/21,000 mt shredded scrap 7,000/1,100 15-30/4.
Bin Qasim/Shanghai 25,000 mt pig iron 1,500 fhex/1,200 shex
1-10/4.
Chungjin/Manila 4,200 mt steel coils 800/liner discharge
23-30/4.
Bilbao/one port Vietnam 5,000 mt steels fio 1,000/500 end
April
Singapore/Mizushi... | Financial Reports |
CIRO INC <CIRI> YEAR
| Shr loss three cts vs profit 16 cts
Net loss 119,000 vs profit 637,000
Revs 17.5 mln vs 15.8 mln
| Financial Reports |
LONDON ORE ENQUIRIES/FIXTURES
| South Africa/Salvador, Brazil
15,000 long tons manganese ore 2,500/1,500 end April.
Callao/Crotone 5,000 mt minerals 4,000/2,000 spot.
Geraldton/Tampico 13,500 mt bulk mineral sands fio
10,000/2,000 1-10/5.
Itea/Dunkirk 20,000 mt bauxite seven days all purposes
10-13/4.
Tampico/North Spa... | Financial Reports |
HELM RESOURCES INC <H> 4TH QTR LOSS
| Oper shr loss two cts vs loss 13 cts
Oper net loss 236,000 vs loss 1,131,000
Revs 26.6 mln vs 26.3 mln
Year
Oper shr profit two cts vs loss 15 cts
Oper net profit 286,000 vs loss 1,292,000
Revs 105.3 mln vs 95.3 mln
NOTE: Net excludes discontinued operations gain 20,000 dlrs
... | Financial Reports |
<SASCO PRODUCTS INC> YEAR LOSS
| Shr loss eight cts vs profit four cts
Net loss 365,430 vs profit 165,508
Revs 5,577,244 vs 4,643,803
NOTE: 1986 net includes nonrecurring expenses of 408,518
dlrs.
| Corporate News |
VARIAN <VAR> IN TALKS WITH PHILIPS ELECTRONICS
| Varian Associates Inc said it
is holding discussions with Philips Electronics regarding the
purchase of Philips' broadcast transmission unit in the United
Kingdom, Pye TVT Limited.
Pye TVT designs and manufactures broadcast transmission
equimpment, specializing in television frequencies.
| Financial Reports |
AUSIMONT COMPO <AUS> SELLS UNIT
| Ausimont Compo NV said it has
sold the assets of its Equipment and Machinery Division for
about six mln dlrs to an investment group including the unit's
management, resulting in a modest pretax gain that will be
included in first quarter results.
The unit had sales of five mln dlrs in 1986.
| Financial Reports |
ATLANTIC RESEARCH <ATRC> COMPLETES ACQUISITION
| Atlantic Research corp said it
has completed the acquisition of professional services firm ORI
Group for 1,414,313 common shares on a pooling of interests
basis.
| Corporate News |
PEABODY HOLDING COMPLETES ACQUISITION
| <Peabody Holding Co Inc> said it has
completed its acquisition of substantially all Eastern Gas and
Fuel Associate's <EFU> coal properties for 15.01 pct of Peabody
Holding's stock.
Peabody said the purchase includes seven underground mines
and seven coal preparation plants currently operated by
... | Industrial and Sector News |
LONDON SUGAR FREIGHTS
| Delfzyl/India 14,700 mt
bagged sugar about 30 dlrs 750/1,000 ppt a/c Benham.
Antwerp/Lagos 12,000 mt bagged sugar 750/750 try liner
discharge 5-20/4 a/c E D and F Man.
T/C single or tweendecker 16,000/19,000 tonnes dw del
Queensland mid-April/early-May for trip with bulk sugar redel
China duration... | Corporate News |
PENTA SYSTEMS INTERNATIONAL INC <PSLI> 4TH QTR
| Shr loss six cts vs loss 76 cts
Net loss 343,748 vs loss 4.0 mln
Revs 5.1 mln vs 4.8 mln
Year
Shr profit 12 cts vs loss 1.45 dlr
Net profit 611,784 vs loss 7.7 mln
Revs 21.6 mln vs 19.7 mln
| Market and Economy |
FED SAYS IT BUYS 550 MLN DLRS OF BILLS FOR CUSTOMER, MAY
| THROUGH SEPT 24 MATURITY
FED SAYS IT BUYS 550 MLN DLRS OF BILLS FOR CUSTOMER, MAY
THROUGH SEPT 24 MATURITY
| Financial Reports |
CHIRAC SEES QUICK DECISION ON CGCT
| French Prime Minister Jacques Chirac
told U.S. congressmen France would announce a decision in two
to three weeks on which group is to control its second largest
communications firm, Compagnie Generale de Construction
Telphoniques, French sources said.
They said Chirac promised that France's decision wo... | Commodities and Trade |
AGENCY REPORTS 41 SHIPS WAITING AT PANAMA CANAL
| The Panama Canal Commission, a U.S.
government agency, said in its daily operations report that
there was a backlog of 41 ships waiting to enter the canal
early today. Over the next two days it expects --
4/01 4/02
Due: 34 34
Scheduled to Transit... | Financial Reports |
CONTROL RESOURCE INDUSTRIES INC <CRIX> 4TH QTR
| Shr loss five cts vs profit eight cts
Net loss 152,000 vs profit 214,000
Revs 6.2 mln vs 2.4 mln
Year
Shr profit 22 cts vs profit 33 cts
Net profit 809,000 vs 853,000
Revs 22.4 mln vs 7.9 mln
| Financial Reports |
FED BUYS 550 MLN DLRS OF BILLS FOR CUSTOMER
| The Federal Reserve bought about 550
mln dlrs of U.S. Treasury bills for a customer, a spokeswoman
said.
She said the Fed bought bills maturing from May through
September 24 for regular delivery tomorrow.
Federal funds were trading at 6-3/16 pct when the Fed
announced the operation.
| Financial Reports |
AMERICAN WATER WORKS CO INC <AWK> SETS PAYOUT
| Qtly div 32 cts vs 32 cts prior
Pay May 15
Record May One
| Other |
HUNT MANUFACTURING CO <HUN> SETS PAYOUT
| Qtrly div 11 cts vs 11 cts
Pay April 21
Record April 10
| Financial Reports |
ITEL <ITEL> BUYS CASTLE/COOKE <CKE> UNIT ASSETS
| Itel Corp said it has completed the
previously-announced acquisition of the container fleet and
related assets of Castle and Cooke Inc's Flexi-Van Leasing Inc
subsidiary for about 130 mln dlrs in cash and marketable
securities, 30 mln dlrs in notes, three mln common shares and
the assumption of liabilities.... | Corporate News |
PITTSBURGH AND WEST VIRGINIA RAILROAD <PW> NET
| 4th qtr
Shr 14 cts vs 14 cts
Net 210,000 vs 211,000
Revs 230,000 vs 229,000
Year
Shr 56 cts vs 56 cts
Net 838,000 vs 841,000
Revs 919,000 vs 919,000
| Financial Reports |
DYNALECTRON <DYN> BUYS AVIATION FACILITY
| Dynalectron Corp said it purchased
certain assets of Standard Aero Inc including leasehold rights
to its aircraft modification and maintenance facility in
Phoenix, Ariz.
Terms were not released.
The facility consists of 285,000 square feet of hangar and
shop space. Dynalectron will operate the pla... | Financial Reports |
U.S. FARM REORGANIZATIONS PROVING COSTLY - GAO
| U.S. farmers who reorganize their
operations to circumvent a cap on federal payments could add
2.3 billion dlrs to the cost of the government's agricultural
programs by 1989, the General Accounting Office, GAO, said.
"We estimate that should the trend in farm reorganizations
continue, reorganizations si... | Financial Reports |
TALKING POINT/PUROLATOR COURIER <PCC>
| Emery Air Freight Corp topped a
leveraged buyout offer for Purolator Courier Corp by about 40
mln dlrs, but Wall Street is reacting as though another offer
may surface.
Purolator's stock climbed 5-3/8 today, to 40-1/8, 1/4 over
Emery's 40 dlr per share offer. Emery topped a 35 dlr per share
or 268 mln... | Financial Reports |
CANADIAN IMPERIAL BANK LOWERING VISA RATES
| <Canadian Imperial Bank of Commerce>
said it was lowering the interest rate on its Visa credit card
to 15.9 pct from 18.6 pct, effective with the May billing
statement.
The bank said it was also halving its yearly Visa card user
fee to six dlrs, but would retain its 15 ct fee for each
transaction.
... | Corporate News |
BUTLER <BTLR> TO SELL PART OF UNIT
| Butler Manufacturing Co said it
agreed in principal to sell part of its controls division to
Enercon Data Corp of Minneapolis.
Terms of the sale were not disclosed.
The transaction, expected to be closed in March, involves
the controls division's energy management and power line
carrier product li... | Financial Reports |
NISSAN MOTOR <NSANY> SEES SECOND HALF PROFIT
| Nissan Motor Co Ltd of Japan said it
expects that it was profitable in the second half ended
yesterday after a first half operating loss of 17 billion yen.
Nissan chief financial officer Atsushi Muramatsu, in a
speech before an automotive seminar, said he attributed the
improvement to cost reductions an... | Financial Reports |
GEOFFRION LECLERC FORECASTS RESULTS
| (Geoffrion Leclerc Inc), in reporting
sharply higher earnings for the six months ended February 28,
said it expects third quarter results to continue at a strong
pace and approximate the preceding quarters.
The brokerage firm earlier reported six month profit rose
to 3.5 mln dlrs from 1.9 mln dlrs last ... | Financial Reports |
WALL STREET STOCKS/POLAROID <PRD>
| Rumors that New York investor Asher
Edelman has acquired a stake in Polaroid Corp and optimism
about tomorrow's status hearing on the patent infringement suit
pending with Eastman Kodak Co <EK> sent Polaroid's stock
higher, traders said.
Polaroid rose 1-1/8 to 74-1/2.
"Speculation that Edelman ... | Financial Reports |
KAUFMAN AND BROAD INC <KB> 1ST QTR FEB 28 NET
| Shr 41 cts vs 17 cts
Net 8,824,000 vs 4,555,000
Revs 301.9 mln vs 196.4 mln
Avg shrs 17,644,000 vs 16,085,000
| Financial Reports |
ITEL <ITEL> COMPLETES FLEXI-VAN ACQUISITION
| Itel Corp said it completed the
previously announced purchase of the container fleet and
certain related assets of Flexi-Van Leasing Inc for about 130
mln dlrs cash and marketable securities, 30 mln dlrs in notes,
three mln shares of newly issued Itel common and assumption of
certain liabilities.
The ... | Commodities and Trade |
KAUFMAN AND BROAD INC <KB> 1ST QTR FEB 28 NET
| Shr 41 cts vs 17 cts
Net 8,824,000 vs 4,555,000
Revs 301.9 mln vs 196.4 mln
NOTE: Housing backlog 135 mln dlrs, up over 33 pct from a
year earlier.
| Corporate News |
NY ANALYSTS SEE COFFEE FUTURES FALLING FURTHER
| New York coffee futures prices will
probably fall to about 85 cents a lb in the next month before a
consolidation trend sets in, according to market analysts.
Yesterday, prices for the spot May contract fell below 1.00
dlr a lb for the first time since August 1981 after the
International Coffee Organiza... | Financial Reports |
ENERGY/U.S. REFINING
| U.S. refiners said they are worried
that growing supplies of imports, proposed federal
environmental regulations, and the marketing of a third grade
of unleaded gasoline would cost them dearly and at a time when
the industry is recovering from a recent slump.
"We have to look at national security and c... | Corporate News |
CSX CORP <CSX> 1ST QTR NET
| Shr 47 cts vs 56 cts
Net 73.0 mln vs 85.0 mln
Revs 1.89 billion vs 1.69 billion
NOTE: figures reflect the merger of Sea-Land Corp completed
Feb 11, 1987.
| Commodities and Trade |
WALL STREET STOCKS/LORAL CORP <LOR>
| Loral Corp climbed 3-3/4 to 48-3/4 amid
rumors the company might be a takeover target of General
Electric Co <GE>. However, analysts said they were skeptical.
"Jack Welch doesn't want any more exposure to defense
markets," said one analyst who heard the rumors but doubted
their accuracy. The referenc... | Financial Reports |
MAGMA LOWERS COPPER PRICE 0.25 CT TO 65.50 CTS
| Magma Copper Co, a subsidiary of
Newmont Mining Corp, said it is lowering its copper cathode
price by 0.25 cent to 65.50 cents a lb, effective immediately.
| Market and Economy |
SNET <SNG> SEES GOOD 1987 EARNINGS
| Southern New England Telecommunications
Corp, SNET, said it expects to have good earnings in 1987
against 4.46 dlrs per share or 139.2 mln dlrs in 1986.
The company also said it expects capital spending to rise
to about 355 mln dlrs in 1987, up from 289 mln dlrs a year ago.
However, senior vice pres... | Market and Economy |
STRYKER <STRY> ACQUIRES HEXCEL <HXL> UNIT
| Stryker Corp said it acquired
Hexcel Medical Corp, a wholly owned subsidiary of Hexcel Corp.
The terms of the transaction were not disclosed.
The sale completes Hexcel's plan to sell all its medical
products businesses, Hexcel said.
| Other |
OLD STONE <OSTN> COMPLETES ACQUISITION
| Old Stone Corp said it
completed the previously announced acquisition of First Federal
Savings Bank of North Carolina, a Shelby, N.C., savings bank,
for common stock.
The final purchase price, expected to be between seven mln
and 7.5 mln dlrs, will be based on an exchange of common stock
valued at 1.5... | Commodities and Trade |
MOORE MEDICAL CORP <MMD> TO MAKE ACQUISITION
| Moore Medical Corp said it
plans to acquire privately-held Penta Products, a wholesale
distributor of generic durgs, for undisclosed terms.
| Financial Reports |
INSPIRATION LOWERS COPPER PRICE TO 66.50 CTS/LB
| Inspiration Consolidated Copper Co, a
subsidiary of Inspiration Resources Corp, said it is lowering
its base price for full-plate copper cathodes one-half cent to
66.50 cents a lb, effective immediately.
| Commodities and Trade |
ARGENTINE VEGETABLE OIL SHIPMENTS IN 1986
| Argentine vegetable oils shipments
during January/December 1986 totalled 1,796,121 tonnes, against
1,577,722 tonnes in the same period of 1985, the Argentine
Grain Board said.
Breakdown was as follows: cotton 9,000 (27,900), sunflower
954,303 (840,440), linseed 119,954 (138,944), groundnutseed
26,248 ... | Financial Reports |
UPLAND MINERALS ACQUIRES BRAZIL MINING FIRM
| Upland Minerals and Chemicals Corp said
it agreed to acquire Consolidated Brazilian Mines International
Inc, a public company with one mln acres of diamond and gold
properties in Brazil.
Terms were not disclosed.
Consolidated owns 42 mining concessions in three regions of
eastern and northern Braz... | Financial Reports |
INSPEECH <INSP> BUYS NORMA BORK, BORK MEDICAL
| Inspeech Inc said it acquired
Norma Bork Associates Inc and Bork Medical Services Inc for
undisclosed terms.
These firms, with combined revenues of about one mln dlrs,
are providers of speech pathology, physical therapy and
occupational therapy services.
| Financial Reports |
NOLAND CO <NOLD> SETS QUARTERLY
| Qtly div 10 cts vs 10 cts prior
Pay April 24
Record April 14
| Financial Reports |
BANK OF NEW YORK <BK> RAISES PRIME TO 7-3/4 PCT
| Bank of New York said it raised its
prime lending rate a quarter point to 7-3/4 pct.
It said the move is effective immediately.
| Financial Reports |
HARTMARX CORP <HMX> 1ST QTR FEB 28 NET
| Shr 54 cts vs 40 cts
Net 11,105,000 vs 8,310,000
Sales 282.7 mln vs 290.3 mln
Avg shrs 20,599,000 vs 20,760,000
NOTE: Per-share results restated for May 1986 three-for-two
stock split
| Financial Reports |
MANUFACTURERS NATIONAL <MNTL> RAISES PRIME
| Manufacturers National Bank of Detroit
said it increased its prime rate to 7-3/4 pct from 7-1/2 pct,
effective immediately.
| Commodities and Trade |
UPLAND MINERALS ACQUIRES BRAZIL MINING FIRM
| Upland Minerals and Chemicals Corp said
it agreed to acquire Consolidated Brazilian Mines International
Inc, a public company with one mln acres of diamond and gold
properties in Brazil.
Terms were not disclosed.
Consolidated owns 42 mining concessions in three regions of
eastern and northern Braz... | Financial Reports |
TOLL <TOL> IN STOCK SPLIT, PUBLIC OFFERING
| Toll Brothers Inc said it
declared a two-for-one split of its common stock and said it
filed a registration statement with the Securities and Exchange
Commission for a proposed public offering of 5,700,000 shares
of common as adjusted for the split.
The record date for the split is April 10, and certifi... | Commodities and Trade |
NATIONAL ROYALTY CORP <NROC> 4TH QTR LOSS
| Shr loss 22 cts vs loss 20 cts
Net loss 2,127,334 vs loss 1,629,432
Revs 1,306,658 vs 1,091,023
Avg shrs 9.7 mln vs 8 mln
Year
Shr loss 36 cts vs loss 35 cts
Net loss 3,519,251 vs loss 2,805,569
Revs 5,081,953 vs 4,410,954
Avg shrs 9.8 mln vs 8.1 mln
| Corporate News |
HI-PORT INDUSTRIES INC <HIPT> 4TH QTR NET
| Oper shr 29 cts vs eight cts
Oper net 222,143 vs 76,605
Revs 4,872,279 vs 3,276,404
12 mths
Oper shr 17 cts vs 28 cts
Oper net 111,280 vs 301,623
Revs 13.9 mln vs 11.1 mln
NOTE: 1986 yr figures excludes extraordinary item of
574,363 dlrs, or 60 cts per share, for terminatio... | Other |
COMEX RAISES MARGINS FOR SILVER FUTURES
| The Commodity Exchange Inc said it is
increasing the minimum margins for silver futures contracts,
effective at the opening of business Thursday, April 2.
The margins for speculative trading will be increased to
2,000 dlrs per contract from 1,300 dlrs and trade hedge margins
will rise to 1,400 dlrs from... | Corporate News |
<SYSTEMS FOR HEALTH CARE INC> YEAR LOSS
| Shr loss 33 cts vs nil
Net loss 603,430 vs profit 4,295
Revs 748,628 vs 5,730
NOTE: Per-share results give retroactive effect to
one-for-50 reverse stock split in March 1987
1986 loss includes recurring expenses of 317,062 dlrs
related to acquisitions and initial advertising campaigns
| Commodities and Trade |
MELLON <MEL>, REPUBLIC <RPT> LIFT PRIME RATES
| Mellon Bank NA of Pittsburgh and
Republic Bank of Dallas have both raised their prime lending
rates to 7-3/4 pct from 7-1/2, effective immediately.
| Corporate News |
GULF BARGE FREIGHT HIGHER IN NEARBYS ON CALL
| Gulf barge freight rates continued to
show a firmer tone in the nearbys on the assumption that
changes in the Gulf posted prices will encourage increases in
both PIK-and-roll activity and barges shipments, with a total
of 21 barges traded this morning on the ST Louis Merchants'
Exchange call session, versus... | Corporate News |
FERTILITY AND GENETICS RESEARCH <BABY> 1ST QTR
| Periods ended December 31
Shr loss 10 cts vs loss seven cts
Net loss 316,289 vs loss 189,140
Revs 61,762 vs 8,934
| Financial Reports |
<CRIME CONTROL> ASSETS TO BE SOLD TO HAWLEY
| Crime Control Inc said it reached a
definitive agreement under which a subsidiary of Hawley Group
Ltd will buy assets and assume certain liabilities of Crime
Control for 51.3 mln dlrs.
Of this amount, it said about 47 mln dlrs would be
available for distribution to the company's banks, debenture
holde... | Financial Reports |
ROYAL/BANK CANADA UPS U.S. BASE RATE 1/4 PCT TO 8-1/4 PCT
|
ROYAL/BANK CANADA UPS U.S. BASE RATE 1/4 PCT TO 8-1/4 PCT
| Financial Reports |
ARGENTINE SUBPRODUCTS SHIPMENTS IN 1986
| Argentine subproducts shipments
during January/December 1986 totalled 5,618,315 tonnes, against
4,815,188 tonnes in the same period of 1985, the Argentine
Grain Board said.
Breakdown was as follows: cotton 26,992 (41,933), sunflower
1,403,230 (1,190,862), linseed 261,600 (309,191), groundnutseed
23,59... | Commodities and Trade |
LE PEEP RESTAURANTS INC <LPEP> 4TH QTR LOSS
| Shr loss 27 cts vs loss 81 cts
Net loss 998,764 vs loss 1,491,590
Revs 2,712,614 vs 1,237,850
Avg shrs 3,727,063 vs 1,838,294
Year
Shr loss 1.79 dlr vs loss 2.11 dlrs
Net loss 4,559,004 vs loss 3,882,235
Revs 8,510,004 vs 3,720,640
Avg shrs 2,544,271 vs 1,838,294
| Commodities and Trade |
ESTIMATED U.S. POULTRY SLAUGHTER
| The United States department of
agriculture estimated live poultry slaughter for the week
ending April 1 as follows, in thousands -
Current Previous
Class week week
Bro/Fry 92,552 95,563
Lt Fowl 2,840 3,354
Hvy Fowl 651 789
Ch... | Financial Reports |
TOWLE MANUFACTURING CO <QTOW> 4TH QTR OPER LOSS
| Oper shr loss 1.10 dlrs vs loss 8.63 dlrs
Oper net loss 5.1 mln vs loss 42.1 mln
Revs 23.1 mln vs 63.3 mln
Year
Oper shr loss 4.71 dlrs vs loss 14.09 dlrs
Oper net loss 22.0 mln vs loss 67.2 mln
Revs 114.6 mln vs 221.8 mln
Avg shrs 4,910,330 vs 4,851,650
NOTE: Current y... | Financial Reports |
ROYAL BANK/CANADA UPS U.S. BASE RATE
| <Royal Bank of Canada> said it is
raising its U.S. base lending rate by 1/4 pct to 8-1/4 pct,
effective tomorrow.
The move is the first change in the bank's U.S. dollar base
lending rate since last August, when it lowered the rate 1/2
point.
It follows the announcement yesterday of a 1/4 point ... | Commodities and Trade |
ROSTENKOWSKI RELUCTANT TO BACK TAX HIKE
| House Ways and Means Committee
Chairman Dan Rostenkowski said he would be reluctant to back
the tax increase if it did not have President Reagan's support.
He told a National Press Club luncheon there would be a
number of tax proposals that could be debated if Reagan sought
a tax increase to help balanc... | Corporate News |
HARRIS BANK INCREASES ITS PRIME RATE
| <The Harris Trust and Savings Bank> said
it has increased its prime rate to 7-3/4 from 7-1/2 effective
immediately.
| Corporate News |
ANALYSTS SAY USSR MAY PREFER NEW CROP U.S. WHEAT
| The Soviet Union would likely be more
interested in purchasing new crop wheat than in booking any
grain for immediate shipment if offered a subsidy on U.S.
wheat, an executive with a major grain export company said.
Lower prices and the desire to delay any big purchases
until the condition of winter and... | Commodities and Trade |
STRAWBRIDGE AND CLOTHIER <STRW> 4TH QTR NET
| Shr 2.02 dlrs vs 1.94 dlrs
Net 14.7 mln vs 13.9 mln
Revs 265.6 mln vs 235.1 mln
Year
Shr 2.83 dlrs vs 3.36 dlrs
Net 20.7 mln vs 24.1 mln
Revs 739.1 mln vs 686.9 mln
NOTE: Current year includes loss equal to 12 cts/shr from
takeover defense and loss of 13 cts from loss of in... | Financial Reports |
MOBIL RAISES WEST COAST CRUDE PRICES BETWEEN ONE DLR AND
| 1.75 DLRS/BBL TODAY
MOBIL RAISES WEST COAST CRUDE PRICES BETWEEN ONE DLR AND
1.75 DLRS/BBL TODAY
| Financial Reports |
EGYPT AUTHORIZED TO BUY PL 480 WHEAT FLOUR-USDA
| Egypt has been authorized to purchase
about 125,000 tonnes of U.S. wheat flour under an existing PL
480 agreement, the U.S. Agriculture Department said.
It may buy the wheat flour, valued at 23.0 mln dlrs between
April 8 and August 31, 1987 and ship it by September 30, the
department said.
| Corporate News |
TUGS TO ATTEMPT REFLOATING KOREAN BULK CARRIER
| Seven tugs will attempt to refloat the
South Korean motor bulk carrier Hyundai New World tonight,
Lloyds shipping intelligence service said in its latest update.
The vessel grounded close to Itaqui port in Brazil last
night after undocking from Ponta da Madeira terminal.
Lloyds said the 200,000 dwt ... | Financial Reports |
ROBERT BRUCE INDUSTRIES INC <BRUCA> YEAR LOSS
| Shr loss 3.31 dlrs vs profit 94 cts
Net loss 6,073,000 vs profit 1,823,000
Revs 58.9 mln vs 69.2 mln
| Other |
TCF BANKING AND SAVINGS HIKES PRIME RATE
| TCF Banking and Savings FA said it
is raising its prime rate to 7-3/4 pct from 7-1/2 pct effective
today.
| Corporate News |
CCC SELLS FARMERS STOCK PEANUTS, OFFERS MORE
| The U.S. Commodity Credit Corporation
(CCC) sold 6,034 short tons of 1986-crop farmers stock peanuts
for domestic crushing, the U.S. Agriculture Department said.
The peanuts were from the Southwest area and were sold at
between 8.05 cts per lb (total kernel content), and 11.7225 cts
per lb, the departme... | Financial Reports |
CAMPEAU AND EDWARD DEBARTOLO COMPLETE PURCHASE
| <Campeau Corp> and the <Edward J.
DeBartolo Corp> have closed on their previously-announced
purchase of five of the regional shopping centers of Allied
Stores Corp.
Campeau said it and the DeBartolo Association will each
hold a 50 pct ownership interest in the shopping centers.
Campeau sepa... | Corporate News |
CCC INTEREST RATE FOR APRIL IS SIX PCT -- USDA
| The Commodity Credit Corporation
(CCC) interest rate on loans disbursed in April will carry a
six pct ionterest rate, the U.S. Agriculture Department said.
The April rate is up from March's 5-7/8 pct and reflects
the interest rate charged CCC by the U.S. Treasury, the
department said.
| Corporate News |
<MAGELLAN CORP> SETS MERGER WITH BALZAC
| Magellan Corp said it has entered into a
letter of intent to acquire Balzac Investments Inc in a
transaction that will result in former Balzac shareholders
owning about 83 pct of the combined company.
The company said on completion of the merger, the combined
company wopuld be known as Power-Cell Inc an... | Financial Reports |
STANDARD OIL <SRD> COMMITTEE TRIED TO DELAY BID
| A committee of independent directors of
the Standard Oil Co unsuccessfully sought a delay in a tender
offer for Standard shares by British Petroleum Co plc,
according to offering documents.
BP's offering document for its 70 dlr per share offer
describes discussions with Douglas Danforth, who chairs a
... | Financial Reports |
BANKAMERICA SAYS 1ST QTR NET TO BE CUT BY 40 MLN DLRS DUE
| TO BRAZILIAN LOANS
BANKAMERICA SAYS 1ST QTR NET TO BE CUT BY 40 MLN DLRS DUE
TO BRAZILIAN LOANS
| Corporate News |
BANKAMERICA SAYS IT EXPECTS TO REPORT A PROFIT FOR
| FIRST-QUARTER 1987
BANKAMERICA SAYS IT EXPECTS TO REPORT A PROFIT FOR
FIRST-QUARTER 1987
| Financial Reports |
MOBIL <MOB> RAISES WEST COAST CRUDE POSTINGS
| Mobil Corp said it raised its west
coast crude postings, effective today.
The Buena Vista light grade, at 26 degrees api gravity, was
raised 1.35 dlrs a barrel to 15.55 dlrs/bbl, while the
Huntington Beach light grade, at 16 degrees, was raised about
1.75 dlrs/bbl to 14.10 dlrs/bbl.
The heavier Wi... | Financial Reports |
STRAWBRIDGE <STRW> DECLARES STOCK DIVIDEND
| Strawbridge and Clothier said its
board declared a seven pct stock dividend, payable May 14 to
holders of record April 14.
Earlier, the company reported net income of 20.7 mln dlrs.
| Financial Reports |
UNITED COS FINANCIAL CORP <UNCF> 4TH QTR NET
| Shr 68 cts vs 78 cts
Net 2,432,179 vs 2,236,471
Revs 50.8 mln vs 35.1 mln
Avg shrs 3,600,000 vs 2,850,000
Year
Shr 2.82 dlrs vs 3.35 dlrs
Net 10.0 mln vs 9,554,658
Revs 177.5 mln vs 138.1 mln
Avg shrs 3,567,123 vs 2,850,000
| Financial Reports |
LAIDLAW DECLARES THREE FOR TWO SPLIT, BOOSTS PAYOUT to
| 5-1/4 CTS/SHR FROM FOUR CTS
LAIDLAW DECLARES THREE FOR TWO SPLIT, BOOSTS PAYOUT to
5-1/4 CTS/SHR FROM FOUR CTS
| Corporate News |
TRANSDUCER SYSTEMS INC YEAR
| Shr profit 12 cts vs loss 49 cts
Net profit 117,000 vs loss 506,000
Revs 1.1 mln vs 1.2 mln
Year
Shr profit seven cts vs loss 89 cts
Net profit 66,000 vs loss 921,000
Revs 4.4 mln vs 3.9 mln
NOTE:1986 reflects tax benefit of 24,000. 1985 reflects tax
benefit of 186,000 for ... | Corporate News |
LAIDLAW TRANSPORTATION LTD <LDMFA> 2ND QTR NET
| period ended February 28
Shr 26 cts vs 14 cts
Net 28.4 mln vs 15.2 mln
Revs 305.7 mln vs 179.6 mln
Six mths
Shr 50 cts vs 28 cts
Net 54.6 mln vs 30.3 mln
Revs 586.2 mln vs 359.8 mln
Avg shrs 100,362,000 vs 91,360,000
| Corporate News |
CENTURY BUSINESS CREDIT <CTY> GETS OFFER
| Century Business Credit Corp said it
received an offer from Stanley Tananbaum, chairman and chief
executive officer, to take the company private in a transaction
giveing shareholders 24.40 dlrs per share in cash.
There were 603,106 shares outstanding as of December 31.
The independent directors said... | Corporate News |
IVACO SEES MINIMAL FIRST QUARTER EARNINGS
| (Ivaco Inc) said price pressure on steel
products, particularly in the U.S., and the recent increase in
the value of the Canadian dollar is expected to result in
"minimal" first quarter earnings.
It said subsequent quarters should show substantial
improvement from first quarter levels but 1987 earnings ... | Corporate News |
LAIDLAW <LDMFA> SPLITS STOCK, HIKES PAYOUT
| Three for two stock split
Pay and record date subject to shareholder confirmation May
four
Qtly dividend 5-1/4 cts vs four cts
Pay May 15
Record May one
Note: dividends declared on pre-split shares.
Laidlaw Transportation Ltd
| Industrial and Sector News |
SECURITY PACIFIC, PROVIDENT NATIONAL LIFT PRIME
| Security Pacific National Bank and
Provident National Bank said they increased their prime lending
rates a quarter point to 7-3/4 pct.
They said the move is effective immediately.
| Financial Reports |
J.P. MORGAN SAYS BRAZIL ACTION WILL REDUCE FIRST QUARTER
| NET BY ABOUT 20 MLN DLRS
J.P. MORGAN SAYS BRAZIL ACTION WILL REDUCE FIRST QUARTER
NET BY ABOUT 20 MLN DLRS
| Financial Reports |
HOUSTON INDUSTRIES INC <HII> INCREASES DIV
| Qtly div 72 cts vs 70 cts prior
Payable June 10
Record May 15
| Financial Reports |
EMERY <EAF> PLANS PUROLATOR <PCC> ASSET SALES
| Emery Air Frieght Corp, which has
launched a 40 dlr a share tender offer for 83 pct of Purolator
Courier Corp, said it would sell some Purolator assets to help
pay the estimated 265 mln dlr cost of the stock purchase deal.
In a filing with the Securities and Exchange Commission,
Emery said it would sell... | Financial Reports |
CENTURY BUSINESS CREDIT CORP <CTY> 4TH QTR
| Shr 39 cts vs 31 cts
Net 232,991 vs 198,185
Revs 2.9 mln vs 2.3 mln
Year
Shr 2.20 dlrs vs 1.12 dlrs
Net 1.3 mln vs 715,113
Revs 11.3 mln vs 10.1 mln
NOTE:1986 revs includes 260,000 dlr finder's fee , net
includes 112,000 gain from sale of securities, 115,000
dividends, 78... | Industrial and Sector News |
IC INDUSTRIES<ICX> UNIT TO SELL OFF MORE TRACK
| Illinois Central Gulf Railroad, a
subsidiary of IC Industries Inc, said it will complete the sale
to the Chicago, Missouri and Western Railway of its 631-mile
line from Joliet, Ill., to St. Louis by April 30.
The Chicago, Missouri is a wholly owned subsidiary of the
Venango River Corp, a transportation ... | Corporate News |
STRONG DEMAND FOR U.S. CORN IN JAPAN -- USDA
| Japan appears to be relying less on
corn from China, Argentina and South Africa and more on
supplies from the United States, the U.S. Agriculture
Department said.
In its World Production and Trade report, the department
said in the past seven weeks reported U.S. corn sales of nearly
three mln tonnes t... | Financial Reports |
BRITISH PETROLEUM RAISES NORTH SEA BUTANE PRICES BY 15.50
| DLRS A TONNE TODAY
BRITISH PETROLEUM RAISES NORTH SEA BUTANE PRICES BY 15.50
DLRS A TONNE TODAY
| Financial Reports |
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