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K MART <KM> SELLING KRESGE TO MCCRORY
| K mart Corp said it agreed to sell
most of the U.S. Kresge and Jupiter stores to McCrory Corp, a
subsidiary of privately held Rapid American Corp.
It said the agreement covers 76 stores in 21 states
including inventory and fixtures. The price depends on the
amount of the inventory that will be in the st... | Commodities and Trade |
TANDY <TAN> 3RD QUARTER REVENUES UP 12 PCT
| Tandy Corp said consolidated
sales and operating revenues for the third quarter, ended March
31, totaled nearly 776.0 mln dlrs, up 12 pct from 693.4 mln
dlrs last year.
The company said third quarter earnings will be released in
the latter part of April.
Tandy said March sales and oprating revenue... | Corporate News |
PHILIP MORRIS <MO> UP ON RECOMMENDATIONS
| The stock of Philip Morris Cos rose
today following recommendations by First Boston Corp and Morgan
Stanley and Co, traders said.
Philip Morris gained 1-3/4 to 88-1/4.
First Boston's analyst was unavailable for comment.
Morgan Stanley's David Hill said he just assumed coverage
of Philip Morris... | Commodities and Trade |
PAKISTAN NOT SEEN AS MAJOR WHEAT EXPORTER
| Pakistan is not emerging as a major
wheat exporter as world market prospects are not good enough,
Sartaj Aziz, Special Assistant on Food and Agriculture to the
Pakistani Prime Minister, said in an interview.
No exports are planned for the next 12 months or so and
plans last year to sell one mln tonnes t... | Market and Economy |
KLEER-VU INDUSTRIES TO SELL COSMETICS UNIT
| <Kleer-Vu Industries> said the
company's board authorized the sale of its Neslemur Co, its
cosmetic and toiletries company.
The company said it is evaluating two separate proposals
and will complete the sale within 10 days.
| Other |
MEMORY PROTECTION <MPDI> COMPLETES ACQUISITION
| Memory Protection Devices Inc said it
completed its acquisition of the assets and liabilities of
Bogen, a division of <Lear/Siegler>, for 9,200,000 dlrs in
cash.
Under the newly-structured company, Memory said it expects
to report consolidated sales of 18 mln dlrs to 20 mln dlrs and
should be profi... | Other |
DU PONT <DD> TO SELL CLEVELAND PLANT
| Du Pont Co said it agreed to
sell its Cleveland chemical plant, the oldest site currently
operated by the company, to two employees.
Terms were not disclosed.
Closing is expected in the second quarter, following
approval of definitive agreements.
Products made at the plant represent less than ... | Other |
SPAIN RAISES CALL MONEY RATE TO 14.5 PCT
| The Bank of Spain said it raised its rate
for overnight call money to 14.5 pct from 14 pct with immediate
effect at today's daily auction for assistance funds.
The move followed comments yesterday by central bank
governor Mariano Rubio, who said money supply growth was too
fast.
The bank said late... | Commodities and Trade |
FEDERAL CO <FFF> 3RD QTR FEB 28 NET
| Shr 1.00 dlr vs 34 cts
Net 16.9 mln vs 5,696,000
Revs 371.3 mln vs 303.2 mln
Avg shrs 16.9 mln vs 16.3 mln
Nine mths
Shr 3.55 dlrs vs 1.66 dlrs
Net 59.3 mln vs 27.1 mln
Revs 1.02 billion vs 912.8 mln
Avg shrs 16.7 mln vs 16.3 mln
| Financial Reports |
FLOWERS INDUSTRIES INC <FLO> HIKES PAYOUT
| Qtly div 14-1/2 cts vs 14 cts prior
Pay May 4
Record April 17
| Financial Reports |
FINE ART ACQUISITIONS LTD <FAAA> 4TH QTR NET
| Shr three cts vs three cts
Net 141,224 vs 118,192
Sales 5,849,695 vs 3,717,794
Avg shrs 4,975,000 vs 4,925,000
Year
Shr 15 cts vs 10 cts
Net 720,126 vs 474,879
Sales 18.2 mln vs 11.5 mln
Avg shrs 4,959,932 vs 4,902,778
NOTE: 1985 year net includes gain of 58,000 d... | Corporate News |
NORTHERN TELECOM PROPOSES TWO-FOR-ONE STOCK SPLIT
|
NORTHERN TELECOM PROPOSES TWO-FOR-ONE STOCK SPLIT
| Industrial and Sector News |
GERBER <GEB> SETS DEADLINE FOR UNIT'S BUYOUT
| Gerber Products Co said it has
given management of its CWT Inc trucking subsidiary 60 days to
pursue a leveraged buyout of the subsidiary.
It said CWT Inc, which has operations in the Midwest and
Southeast, has annual revenues of approximately 135 mln dlrs.
| Market and Economy |
<ANCHOR FINANCIAL CORP> 1ST QTR NET
| Shr 31 cts vs 31 cts
Net 226,000 vs 173,000
Assets 73.1 mln vs 62.5 mln
Deposits 54.6 mln vs 51.5 mln
NOTE: earnings per share for 1987 affected by issuance of
166,750 shares of common stock in December 1986.
| Industrial and Sector News |
TSR INC <TSRI> 3RD QTR FEB 28 NET
| Shr seven cts vs four cts
Net 161,000 vs 107,000
Revs 5,852,000 vs 4,794,000
Nine mths
Shr 23 cts vs 24 cts
Net 553,000 vs 610,000
Revs 18.2 mln vs 14.2 mln
| Other |
TIME <TL> IN TALKS ON CABLE NEWS CONSORTIUM
| N.J. Nicholas Jr., president and chief
operating officer of Time Inc, told security analysts the
company is now engaged in talks to join a consortium of cable
companies that will invest in Cable News Network.
Nicholas declined to give any details, but said an
announcement might be ready in a few days. H... | Other |
ABNORMAL RADIATION FOUND IN SOVIET TEA/HAZELNUTS
| Abnormally high levels of radiation were
found in Soviet tea and hazelnuts more than nine months after
the Chernobyl nuclear accident, West German residents in Moscow
were advised this week.
In a letter to the West German community here, Ambassador
Joerg Kastl said laboratory tests on food samples bough... | Other |
SALLIE MAE ADJUSTS SHORT-TERM DISCOUNT NOTE RATES
| The Student Loan Marketing
Association said its rates on short-term discount notes were as
follows:
MATURITY NEW RATE OLD RATE MATURITY
5-14 days 5.65 pct 5.60 pct 5-14 days
15-78 days 5.00 pct 5.00 pct 15-81 days
79-85 days 5.83 pct 5.75 pct 82-88 days
89-360... | Commodities and Trade |
HARRIS CUTS STAKE IN BELL INDUSTRIES <BI>
| Harris Associates L.P., a Chicago
investment advisory limited partnership, said it lowered its
stake in Bell Industries Inc to 1,015,800 shares, or 18.7 pct
of the total outstanding, from 1,083,800 shares, or 20.0 pct.
In a filing with the Securities and Exchange Commission,
Harris said it sold 68,000 B... | Corporate News |
CYPRUS LOWERS COPPER PRICE ONE CT TO 66 CTS
| Cyprus Minerals Company said it is
decreasing its electrolytic copper cathode price by one cent
to 66.0 cents a pound, effective immediately.
| Commodities and Trade |
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
31 days 5.95 pct 6.00 pct 32 days
| Financial Reports |
MAVERICK RESTAURANT CORP <MAVR> 4TH QTR LOSS
| Ended Jan 31
Shr loss 50 cts vs loss one ct
Net loss 2,475,739 vs loss 68,691
Revs 3,689,770 vs 3,292,733
Year
Shr loss 50 cts vs loss two cts
net loss 2,472,582 vs loss 112,936
Revs 14.8 mln vs 13.2 mln
NOTE: Current periods include charge of 2.25 mln dlrs or 45
cts ... | Financial Reports |
GRAPHIC MEDIA INC <GMED> YEAR NET
| Ended Jan 31
Shr nine cts vs eight cts
Net 246,000 vs 369,000
Revs 20.4 mln vs 11.2 mln
Avg shrs 2,123,000 vs 1,882,000
NOTE: 1985 restated.
| Corporate News |
TIME <TL> 1987 EARNINGS MAY BE 4.25 DLRS SHARE
| Time Inc's chief financial officer,
Thayer Bigelow, told security analysts the company is
"comfortable" with Wall Street estimates that 1987 earnings
will be in a range of 3.75 dlrs to 4.25 dlrs per share.
In 1986, Time reported earnings of 5.95 dlrs per share,
including a number of special items.
... | 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
30-273 days 5.00 pct 5.00 pct 30-273 days
274-294 days 5.90 pct 5.92 pct 274-294 days
295-344 days 5.00 pct 5.00 pct 295-344 days
345-360 days 5.93 p... | Financial Reports |
GOODYEAR <GT> CHAIRMAN CRITICIZES CORPORATE RAIDS
| The chairman of Goodyear Tire and Rubber
Co, a concern that survived a recent hostile takeover bid,
charged that "terrorists in three-piece suits" are undermining
the nation's industrial base.
In a speech to a meeting of south Florida business executives,
Goodyear Chairman Robert Mercer lashed out at corpor... | Corporate News |
FED EXPECTED TO TAKE NO MONEY MARKET ACTION
| The Federal Reserve is expected to take
no reserve-management action in the U.S. Government securities
market during its usual intervention period, economists said.
They said that, if the Fed does act, it will likely add
temporary reserves indirectly by arranging one to 1.5 billion
dlrs of customer repu... | Corporate News |
AGENCY REPORTS 30 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 30 ships waiting to enter the canal
early today. Over the next two days it expects --
4/03 4/04
Due: 36 28
Scheduled to Transit... | Financial Reports |
LAND'S END INC <LEYS> VOTES INITIAL PAYOUT
| Land's End Inc said its board
declared a dividend of 10 cts a share payable April 30, record
April 13.
It is the company's first dividend since it became a public
entity last October.
| Corporate News |
<TIVERTON PETROLEUMS LTD> NINE MTHS DEC 31 NET
| Shr six cts vs five cts
Net 459,131 vs 289,433
Revs 1,808,832 vs 1,680,240
| Corporate News |
ALLWASTE <ALWS> TO ACQUIRE SERVICE FIRM
| Allwaste Inc said it agreed in principle
to acquire all outstanding stock of a company in the industrial
service business for 1.98 mln dlrs in common stock.
It did not identify the company to be acquired.
| Corporate News |
GLOBAL RAISES HEAVY FUELS PRICES
| global petroleum corp said today it
raised the posted cargo prices for number six fuel in the new
york harbor 20 cts to 1.45 dlrs a barrel, effective today.
the increase brings the prices for one pct sulphur to 21.30
dlrs, up 20 cts; two pct sulphur 20.85 dlrs, up one dlr; 2.2
pct sulphur 20.50, up 1.25... | Financial Reports |
SOO LINE <SOO> TO SELL LAKE STATES DIVISION
| Soo Line Corp said it agreed to sell
its Lake States Transportation Division to the newly formed
Wisconsin Central Ltd.
The division conducts rail operations over about 2,000
miles of railroad in Minnesota, Wisconsin, Michigan and
Illinois. Soo Line said in January it was seeking bids for the
property... | Corporate News |
BP SAYS NO PLANS TO CLOSE SWEDISH REFINERY
| The British Petroleum Co Plc <BP.L> said
it had no plans to close its refinery in Gothenburg, despite
forecasts by a Swedish finance ministry committee that it might
be planning such a move.
The committee said the refinery's future looked bleak
because the Swedish petroleum industry's competitiveness... | Financial Reports |
USDA CORRECTS TURKEY CREDIT ANNOUNCEMENT
| The U.S. Agriculture Department said
an announcement by the department yesterday concerning 15.0 mln
dlrs in additional credit guarantees for exports of U.S.
commodities to Turkey contained two inaccuracies.
First, the USDA said its announcement should not have said
that plywood was excluded from the ad... | Corporate News |
PLYWOOD CREDITS EYED BY REAGAN ADMINISTRATION
| The Reagan administration is debating
whether to provide government credit guarantees for the export
of plywood, a U.S. Agriculture Department official said.
As a member of the Organization for Economic Cooperation
and Development, OECD, the United States has agreed not to
provide any concessional credi... | Commodities and Trade |
POPE AND TALBOT <POP> SEES HIGHER 1ST QTR NET
| Pope and Talbot Inc said it
expects first quarter earnings to total about one dlr per
share, compared with a year-earlier loss of nine cts per share.
Each of the company's business segments contributed to the
sharp improvement, Pope and Talbot said.
The wood products company also said it expects to ... | Corporate News |
MORE INTERMEDIATE U.S. WHEAT CREDITS FOR MOROCCO
| The Commodity Credit Corporation has
approved an additional 45.0 mln dlrs under its interemdiate
export credit guarantee program, GSM-103, for sales of U.S.
wheat to Morocco, the U.S. Agriculture Department said.
The action increases Morocco's cumulative fiscal year 1987
program for wheat under GSM-103 ... | Commodities and Trade |
STARS TO GO <STAR> GETS STORES, AGREEMENT
| Stars to Go Inc said it completed
its acquisition of 650 video centers previously owned by CVS
International Inc and located in Circle K Corp <CKP> stores.
In conjunction with the acquistion, Circle K also granted
it the exclusive right to install video cassette rental centers
in all existing 3,500 C... | Commodities and Trade |
POLYSAR IN JOINT VENTURE ON FINLAND LATEX PLANT
| Polysar Ltd, wholly owned by
<Canada Development Corp>, said it agreed to form a joint
venture with Raision Tehtaat, of Finland, to build a synthetic
rubber latex plant in southern Finland.
Project cost and plant capacity were not disclosed.
The joint venture, to be 51 pct owned by Raision Tehtaa... | Corporate News |
STERLING DRUG INC <STY> INCREASES PAYOUT
| Qtrly div 38 cts vs 33 cts
Pay June 1
Record May 7
NOTE: company said this is the largest dividend increase in
15 years.
| Corporate News |
CAMPBELL'S <CCH> MESTON LAKE SETS GOLD TARGETS
| <Meston Lake Resources Inc>, 65.3 pct
owned by Campbell Resources Inc, said it will begin commercial
output at its Joe Mann mine in the Chibougamu area of Quebec at
an initial daily rate of 500 short tons of ore grading 0.15
ounce of gold per ton.
It said it will improve throughput to 700 tons a day ... | Corporate News |
WARBURG PINCUS DECLINES TO UP SYMBION <SYMB> BID
| Warburg, Pincus Capital Co L.P., an
investment partnership, said it told representatives of Symbion
Inc it would not increase the 3.50-dlr-per-share cash price it
has offered for the company.
In a filing with the Securities and Exchange Commission,
Warburg Pincus said one of its top executives, Rodman M... | Corporate News |
NEW YORK FUTURES EXCHANGE TO RELOCATE
| Lewis Horowitz, president of the New
York Futures Exchange, said the New York Stock Exchange board
yesterday approved in principle an agreement to relocate the
futures exchange at the New York Cotton Exchange.
The agreement is subject to the approval of the Cotton
Exchange board, which meets Tuesday, Ap... | Corporate News |
EC WHEAT RELEASE UNLIKELY TO SATISFY U.K. DEMAND
| The European Commission's decision to
release an additional 300,000 tonnes of British intervention
feed wheat for the home market will provide only moderate
relief in an increasingly tight market, traders said.
Some operators had been anticipating a larger tonnage,
pointing out that at this week's U.K. ... | Commodities and Trade |
CALIFORNIA FIRM HAS FIVE PCT OF MODULAIRE <MODX>
| PBS Building Systems of America Inc,
an Anaheim, Calif., company, told the Securities and Exchange
Commission it has acquired 150,000 shares of Modulaire
Industries, or 5.0 pct of the total outstanding common stock.
PBS, whose subsidiaries design, make, sell and lease
nonresidential relocatable modular ... | Financial Reports |
BOISE CASCADE <BCC> COMPLETES SALE OF UNIT
| Boise Cascade Corp said it
completed the previously announced sale of its Consumer
Packaging Division to Sonoco Products Co <SONO> for
approximately 175 mln dlrs.
| Corporate News |
KENTUCKY CENTRAL TO DECLARE STOCK DIVIDEND
| Kentucky Central Life INsurance Co
said the company said it will declare a 200 pct stock dividend
on Monday.
Accordingly, it said it filed a registration statement with
the Securities and Exchange COmmission for a proposed offering
of three mln shares of its class a non-voting common stock,
which refl... | Corporate News |
MCA INC <MCA> SETS REGULAR QTRLY PAYOUT
| Qtrly div 17 cts vs 17 cts prior
Pay April 13
Record March 25
| Other |
CHILE, CHINA TO ESTABLISH PEKING COPPER PLANT
| The Chilean state copper corporation,
Codelco, the privately-owned Chilean copper fabricator Madeco
and Chinese interests are to establish a copper tube plant in
Peking, Codelco's U.K. Subsidiary Chile Copper Ltd said.
The plant is designed to produce 5,000 tonnes in the first
five years and 8,000 tonne... | Corporate News |
ALLIED-SIGNAL <ALD> TO SELL ELECTRONICS UNIT
| Allied-Signal Inc said it
agreed to sell its Amphenol Products unit to a subsidiary of
LPL Investments Group <LPLI>, a Wallingford, Conn., investment
company, for 430 mln dlrs cash.
Closing is expected soon, pending appropriate approvals,
the company said. LPL indicated that at closing, warrants will... | Corporate News |
JAPANESE CRUSHERS BUY CANADIAN RAPESEED
| Japanese crushers bought 4,000 to 5,000
tonnes of Canadian rapeseed in export business overnight for
May shipment, trade sources said.
| Corporate News |
PORTUGAL'S GDP FORECAST TO GROW FOUR PCT THIS YEAR
| Portugal's Gross Domestic Product (GDP)
will grow around four pct this year, the same rate as in 1986,
according to a Bank of Portugal forecast.
Total investment this year, the country's second as a
member of the European Community (EC), will rise nearly 10 pct,
again the same rate as last year, the cen... | Corporate News |
ASAMERA <ASM> TO FORM NEW MINING UNIT
| Asamera Inc said it will
transfer all its mineral interests into a new wholly owned
subsidiary, Asamera Minerals Inc, which will later issue up to
15 pct of its shares to the public.
The mineral interests will include Asamera's 51 pct
interest in the Cannon gold mine in Wenatchee, Wash. Asamera
said t... | Corporate News |
OCCIDENTAL <OXY> UNIT SELLS DIVISION
| Occidental Petroleum Corp's
Occidental Chemcial Corp said it sold the Process chemicals
division it acquired as part of the September 1986 purchase of
Diamond Shamrock Chemicals to Henkel KGAA of Dusseldorf, West
Germany.
Terms were not disclosed.
The division makes specialty industrial chemicals... | Corporate News |
SOVIET GRAINS SEEN ENTERING SPRING ON SHAKY NOTE
| Soviet winter grains could be off to
a faulty start this spring after enduring an usually dry fall
and cold winter, weather and crop analysts said.
Prospects for another near-record grain harvest in the
Soviet Union appear dim at this point, but it is premature to
forecast any major crop problems, analy... | Financial Reports |
NORANDA MINE SEEN BELOW FULL OUTPUT FOR MONTHS
| Noranda Inc said production
will remain shut down at its fire-damaged copper mine here
until it can completely examine the mine.
If it decides to keep the mine open it would take four or
five months before it could resume full production.
Company spokesman Dale Coffin said the investigation could
... | Corporate News |
U.K. FIRM UPS ITALY FUND <ITA> STAKE TO 12 PCT
| Lloyds Investment Managers Ltd, a
London-based investment firm, said it raised it stake in Italy
Fund to 760,500 shares, or 12.0 pct of the total outstanding
common stock, from 466,000 shares, or 7.4 pct.
In a filing with the Securities and Exchange Commission,
Lloyds said it bought the additional 294,5... | Corporate News |
INVESTOR HAS FIVE PCT OF SAGE DRILLING <SAGE>
| Arthur Appleton, a Chicago investor,
told the Securities and Exchange Commission he has acquired
39,000 shares of Sage Drilling Co Inc, or 5.1 pct of the total
outstanding common stock.
Appleton said he bought the stock for 116,554 dlrs for
investment purposes.
Depending on several circumstances, ... | Corporate News |
AM INTERNATIONAL INC <AM> 2ND QTR JAN 31
| Oper shr loss two cts vs profit seven cts
Oper shr profit 442,000 vs profit 2,986,000
Revs 291.8 mln vs 151.1 mln
Avg shrs 51.7 mln vs 43.4 mln
Six mths
Oper shr profit nil vs profit 12 cts
Oper net profit 3,376,000 vs profit 5,086,000
Revs 569.3 mln vs 298.5 mln
Avg sh... | Commodities and Trade |
COLECO INDUSTRIES <CLC> SEES PROFIT IN 1987
| Coleco Industries Inc said
it expects to return to profitability in 1987.
Earlier, Coleco reported a net loss of 111.2 mln dlrs for
the year ended December 31 compared to a profit of 64.2 mln
dlrs in the year earlier.
In a prepared statement, the company said the dramatic
swing in operating result... | Commodities and Trade |
ALCAN (AL) TO CLOSE WEST GERMAN SMELTER
| (Alcan Aluminium Ltd) is closing its
aluminum smelter in Ludwigshafen, West Germany this June due to
high operating costs, an Alcan spokesman said.
The smelter, near Frankfurt, had annual capacity of about
44,000 metric tons but was operating at about half that in
January, spokesman Fernand Leclerc said... | Corporate News |
NORANDA SETS TEMPORARY MINE SHUTDOWN
| <Noranda Inc> said
production will remain shut down at its fire-damaged copper
mine here until it can completely examine the mine.
The fire, which started Wednesday and burned itself out
late yesterday, killed one miner and trapped 56 others
underground for about 24 hours. The 56 were eventually brou... | Corporate News |
CIS TECHNOLOGIES<CIH> TO SELL SHARES TO SWISS CO
| CIS Technologies Inc said it
executed a formal share purchase agreement with Swiss
Reinsurance Co of Zurich, Switzerland.
Under terms of the agreement, Swiss Re will acquire 5.5 mln
newly issued CIS stock at 2.50 dlrs a share, or 13.8 mln dlrs.
This purchase represents 30 pct of the outstanding shares.
... | Other |
COPLEY PROPERTIES INC <COP> INCREASES DIVIDEND
| Qtly div 42 cts vs 41.5 cts prior
Payable APril 28
Record April 14
| Industrial and Sector News |
COLOMBIAN INFLATION STABLE AT AROUND 20 PCT
| Colombia's cost of living index rose 2.71
pct in March, after a 2.03 pct increase in February and a 2.21
pct rise in March 1986, the government statistics institute
said.
The result brought year-on-year inflation to 20.36 pct
compared with 22.65 pct at end-March 1986 and 19.77 pct for the
year ending ... | Market and Economy |
FHLBB SAYS MORTGAGE RATES CONTINUE DECLINE
| The Federal Home Loan Bank Board said
home mortgage rates fell from early February to early March to
their lowest point in nine years, but the rate of decline was
slower than it had been in recent months.
The bank board said the average effective commitment rate
for fixed-rate mortgages for single famil... | Corporate News |
ROYAL RESOURCES CORP <RRCO> 2ND QTR DEC 31 LOSS
| Shr loss 72 cts vs loss 1.48 dlrs
Net loss 4,466,006 vs loss 9,091,688
Revs 608,181 vs 1,280,727
Avg shrs 6,194,000 vs 6,155,461
First half
Shr loss 77 cts vs loss 1.51 dlrs
Net loss 4,752,455 vs loss 9,265,457
Revs 1,444,149 vs 2,791,188
Avg shrs 6,174,731 vs 6,155,461... | Commodities and Trade |
CANADIAN MONEY SUPPLY M-1 FALLS 291 MLN DLRS IN WEEK, BANK OF CANADA SAID
|
CANADIAN MONEY SUPPLY M-1 FALLS 291 MLN DLRS IN WEEK, BANK OF CANADA SAID
| Market and Economy |
BENEFICIAL <BNL> UNIT SALE APPROVED
| Beneficial Corp said the sale of its
American Centennial Insurance Co subsidiary to <First Delaware
Holdings Inc> was approved by the Delaware Insurance
Department.
Under the transaction, American Centennial will receive a
cash infusion of 200 mln dlrs, including the settlement of tax
sharing agree... | Financial Reports |
<ITT CANADA LTD> YEAR NET
| Shr 5.56 dlrs vs 3.88 dlrs
Net 47.5 mln vs 33.2 mln
Revs 254.5 mln vs 243.5 mln
Note: shr after preferred dividends
ITT Corp <ITT> owns 100 pct of ITT Canada common shares
| Financial Reports |
CANADIAN MONEY SUPPLY FALLS IN WEEK
| Canadian narrowly-defined money supply
M-1 fell 291 mln dlrs to 32.44 billion dlrs in the week ended
March 25, Bank of Canada said.
M-1-A, which is M-1 plus daily interest chequable and
non-personal deposits, fell 7 mln dlrs to 75.14 billion dlrs
and M-2, which is M-1-A plus other notice and personal
... | Commodities and Trade |
UNION TO PROTEST DART'S SUPERMARKETS <SGL> BID
| The United Food And Commercial
Workers said that more than 1,000 rank-and-file members of the
union will demonstrate Monday at Dart Group Corp's headquarters
protesting Dart's proposed 1.73 billion dlr takover of
Supermarkets General <SGL>.
Supermarkets is best known for its Pathmark chain of
super... | Other |
FCS LABORATORIES <FCSI> TERMINATES DEAL TALKS
| FCS Laboratories Inc said merger
discussions with an unnamed privately-held company in the
health care field have ended without an agreement.
The previously announced negotiations began last August,
the company said.
"It's disappointing to spend so much time on these
negotiations and have them fai... | Other |
WHITE HOUSE SAYS INTEREST RATES REFLECT MARKET
| The White House said the rise in
interest rates was "unfortunate in a general sense" but reflected
market forces.
"There's always movement up and down and the basic fact is
that we believe the economy is strong and growing and there
will always be fluctuations in the interest rate, but the
economy is ... | Commodities and Trade |
REGAL PETROLEUM LTD <RPLO> YEAR
| Shr loss nine cts
Net loss 1.4 mln
Revs 630,118 dlrs
NOTE:Due to change in fiscal year, prior 4th qth and year
cannot be presented on comparable basis. 1986 loss includes
writedowns approximating 1.4 mln dlrs.
| Financial Reports |
CANTERBURY PRESS INC YEAR NOV 30
| Shr 1.1 cts vs 1.7 cts
Net 26,708 vs 35,084
Revs 447,548 vs 243,161
NOTE:1986 net includes 4,300 dlrs gain from tax credit and
1985 includes gain of 8,300 dlrs gain from credit.
| Other |
GRAPHIC MEDIA INC <GMED> YEAR
| Shr nine cts vs 19 cts
Net 188,000 vs 362,000
Revs 20.4 mln vs 11.3 mln
NOTE:1985 restated for reversal of certain tax benefits.
1986 and 1985 reflects preferred stock dividend requirements.
| Corporate News |
HANSON TRUST <HAN> COMPLETES KAISER PURCHASE
| Hanson Trust PLC said Kaiser Cement
shareholders today approved the previously announced merger
agreement making Kaiser Cement an indirect wholly owned unit of
Hanson Trust.
Hanson said that promptly following the filing of the
certificate of merger Kaiser Cement common shares will be
delisted from th... | Other |
RICHARDSON ELECTRONICS <RELL> 3RD QTR FEB 28 NET
| Shr 20 cts vs 20 cts
Net 1,981,000 vs 1,689,000
Rev 24.7 mln vs 19.6 mln
Nine months
Shr 59 cts vs 53 cts
Net 5,855,000 vs 4,360,000
Rev 70.9 mln vs 51.9 mln
NOTE: Fiscal 1986 per share data reflects dilutive effect
of shares issued for April 1986 convertible debenture
co... | Corporate News |
DIVERSIFIED HUMAN RESROUCES GROUP <HIRE> YEAR
| Shr loss five cts vs profit 72 cts
Net loss 79,069 vs profit 829,737
Revs 14.4 mln vs 14.1 mln
NOTE:1985 includes extraordainy credit of 11 cts.
| Financial Reports |
MID-STATE <MSSL>, FIRST FEDERAL IN DEAL
| Mid-State Federal Savings and Loan
Association said it and First Federal Savings and Loan
Association of Brooksville <FFBV> reached a definitive merger
agreement.
As previously announced, Brooksville shareholders will get
cash and stock in exchange for their shares. The transaction is
expected to b... | Financial Reports |
MEMOTEC DATA COMPLETES TELEGLOBE ACQUISITION
| <Memotec Data Inc> said it completed
the previously announced 488.3 mln dlr acquisition of Teleglobe
Canada from the federal government.
Memotec Data said Teleglobe, which has provided Canada's
overseas telecommunications services since 1950, now becomes
Teleglobe Canada Inc, a unit of Memotec.
... | Other |
U.S., JAPANESE OPEN TALKS ON SEMICONDUCTORS
| U.S. and Japanese officials meet
tomorrow to try to settle a dispute over semiconductor trade
and to cut short the 300 mln dlr penalty tariffs President
Reagan has ordered imposed on Japanese exports.
But U.S. officials held out little hope that any accord
could be reached before the tariffs of 100 per ... | Financial Reports |
AMERON <AMN> ADOPTS SHAREHOLDER RIGHTS PLAN
| Ameron Inc said its board
adopted a rights plan designed to protect shareholders from
potentially unfair takeover tactics.
The plan calls for distribution of one right for each of
its outstanding common shares and each right entitles the
holder to buy one/one-hundredth of a share of newly authorized
S... | Other |
FCS LABORATORIES <FCSI> ENDS MERGER TALKS
| FCS Laboratories said its merger
talks with another unidentified company in the health care
field ended without agreement.
The talks began last August, the company said.
The company also said it will no longer actively seek out
potential merger partners, but will respond to serious
inquiries.
| Other |
UK MINISTER LOOKS TO EASE TENSION WITH JAPAN
| The U.K. government hopes for a
breakthrough on the deadlock with Japan over trade policies
during next week's visit to Tokyo by Corporate Affairs Minister
Michael Howard, political sources said.
Howard, who leaves for Japan tomorrow, told Reuters he will
try to promote understanding on trade issues dur... | Industrial and Sector News |
CONABLE WARNS PROTECTIONISM MIGHT SPREAD
| World Bank President Barber Conable
expressed concern that trade protectionism, at the heart of a
new showdown between the United States and Japan, might spread
throughout the industrial world.
But in an interview with Reuters, Conable said the action
by the United States to slap tariffs on certain elec... | Financial Reports |
MINAS DE ALMADEN RAISES MERCURY PRICE
| Spain's Minas de Almaden y Arrayanes S.A.
has agreed with Algerian producer ENOF to establish a minimum
price of 300 dlrs per flask for spot mercury sales, Almaden
spokesman Jesus Gallego said.
In response to enquiries from Reuters, he said his company
had raised the minimum price for its spot sales fro... | Financial Reports |
U.S. JOBS DATA SAID TO RULE OUT FED TIGHTENING
| A steep drop in goods-producing jobs
detracted from U.S. March non-farm payroll employment and makes
it unlikely that the Federal Reserve will tighten monetary
policy to defend the dollar, economists said.
U.S. March non-farm payroll employment rose 164,000, less
than the gain of 220,000 to 290,000 the ... | Corporate News |
BRISTOL-MYERS <BMY> REVIEWING SCIMED MERGER
| SciMed Life Systems Inc <SMLS> said
Bristol-Myers Co is analyzing the pending lawsuit brought
against SciMed by <Advanced Cardiovascular Systems Inc> to
determine whether to consummate its previously announced plans
to merge with SciMed.
The company said its was served the suit in Minneapolis on
... | Financial Reports |
US WEST <USW> HIKES DIVIDEND
| Qtly div 82 cts vs 76 cts prior
Pay May 1
Record April 16
| Financial Reports |
OIL PRICES RISE ON SAUDI EFFORT
| Crude oil prices rallied today, moving
over 17.00 dlrs a barrel because of Saudi Arabia's determined
effort to support prices, analysts said.
"The Saudis and other OPEC nations are jawboning the market,
hoping to restore confidence and prices and to do this without
another meeting," said Sanford Margosh... | Corporate News |
BELL PETROLEUM <BPSIO>, REGAL TO FORM PLAN
| Bell Petroleum Services Inc said it
agreed to begin talks with Regal International Inc to form a
plan of reorganization under which Bell would become a
subsidiary of Regal.
The plan would be subject to Bankruptcy court approval due
to Bell's status as a debtor-in-possesion under Chapter 11. the
compan... | Corporate News |
HEALTHVEST <HVT> DECLARES THREE-WEEK DIVIDEND
| Healthvest said its board declared
a dividend for the final three weeks of the March quarter of 14
cts, payable April 28 to holders of recrod April 15.
Previously, it dclared a special interim dividend of 42 cts
for January 1 to March 9 in connection with its recently
completed offering.
The combi... | Financial Reports |
CPI CORP <CPIC> 4TH QTR FEB 7 NET
| Shr 43 cts vs 36 cts
Net 7,209,000 vs 5,574,000
Sales 77.7 mln vs 58.7 mln
Avg shrs 16,676,000 vs 15,478,000
Year
Shr 1.12 dlrs vs 1.10 dlrs
Net 18,371,000 vs 17,032,000
Sales 257.5 mln vs 198.3 mln
Avg shrs 16,411,000 vs 15,433,000
NOTE: Year-ago period ended Feb... | Other |
ADM GRAIN ELEVATOR EXPLODES IN BURLINGTON, IOWA
| A grain elevator in Burlington, Iowa,
exploded today, leaving five injured.
The elevator, operated by Archer Daniels Midland Co. of
Decatur, Ill., is a terminal elevator on the Mississippi River,
Doug Snyder, assistant to the vice president said.
The cause of the explosion and the extent of damage t... | Financial Reports |
U.S. GRAIN CARLOADINGS FALL IN WEEK
| U.S. grain carloadings totaled 25,744
cars in the week ended March 28, down 4.3 pct from the previous
week but 41.6 pct above the corresponding week a year ago, the
Association of American Railroads reported.
Grain mill product loadings in the week totalled 10,920
cars, up 0.1 pct from the previous week... | Corporate News |
SEC CLARIFIES POSITION ON TENDER OFFER CHANGES
| The Securities and Exchange
Commission reminded corporate raiders and others tendering for
the shares of companies that they must extend the period their
offers are open if key conditions are changed.
Specifically, the agency said those making tender offers
for companies' stock must extend the offers if... | Commodities and Trade |
GENCORP <GY> UNIT COMPLETES WOR-TV SALE
| GenCorp said its RKO General Inc
subsidiary completed the sale of WOR-TV to MCA Inc <MCA> for
387 mln dlrs.
The Federal Communications Commission approved the sale
last December, GenCorp said. The closing was delayed because
that decision was appealed by four parties to the U.S. Court of
Appeals, G... | Financial Reports |
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