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NACCO INDUSTRIES <NC> TO REPORT 2ND QTR GAIN
Nacco Industries Inc said it will report a gain in the second quarter of about 11.5 mln dlrs or 1.25 dlrs a share from the sale of stock of a subsidiary. Nacco said its North American Coal Corp unit has received notice that Consolidation Coal Co, a unit of Du Pont Co <DD>, will exercise an option to ...
Corporate News
PERRY DRUG STORES INC <PDS> 1ST QTR JAN 31 NET
Shr 13 cts vs 37 cts Net 1,300,000 vs 3,700,000 Sales 189 mln vs 163 mln
Financial Reports
BUFFTON <BUFF> TO POST INVESTIGATION CHARGE
Buffton Corp said it will conduct an investigation on a plant designated as a Superfund Site, which will result in a charge of about six cts per share in its second quarter. In the year ago second quarter, Buffton reported net income of 10 cts a share or 330,000 dlrs on sales of 10.3 mln dlrs. ...
Corporate News
AMERICAN DYNAMICS <AMDC> TO SELL 51 PCT STAKE
American Dynamics Corp and <Meridian Reserve Inc> said they signed a definitive agreement under which Meridian will buy 81.9 mln shares, or 51 pct, of American Dynamics' common stock. Under terms of the agreement, Santa Ana, Calif.-based Meridian said it will pay Columbus-based American Dynamics one ...
Industrial and Sector News
7-APR-1987 17:01:06.32
7-APR-1987 17:01:06.32
Market and Economy
7-APR-1987 17:02:48.51
7-APR-1987 17:02:48.51
Other
GRAIN SHIPS LOADING AT PORTLAND
There were six grain ships loading and six ships were waiting to load at Portland, according to the Portland Merchants Exchange.
Commodities and Trade
ITALY'S ENI TO INVEST IN VENEZUELAN PROJECTS
Italy's state-owned Ente Nazionale Idrocarburi (ENI) will invest 197 mln dlrs in two joint ventures in coal and petrochemicals with Petroleos de Venezuela, S.A, ENI president Franco Reviglio said. Speaking at a news conference, Reviglio said the two projects will eventually bring in some 300 mln dlrs an...
Financial Reports
NWA INC <NWA> 4TH QTR NET
Shr profit 45 cts vs loss nine cts Net profit 9.8 mln vs loss two mln Revs 1.15 billion vs 631.2 mln Year Shr profit 3.26 dlrs vs profit 3.18 dlrs Net profit 76.9 mln vs profit 73.1 mln Revs 3.59 billion vs 2.66 billion
Financial Reports
REPUBLICBANK <RPT> TO RECLASSIFY BRAZIL LOANS
RepublicBank Corp said it has placed 182.6 mln dlrs of all intermediate and term loans to Brazil on a non-accrual basis as of March 31. It said the reclassification will reduce first quarter earnings by 2.8 mln dlrs after taxes, and 11 mln dlrs after taxes for all of 1987, if Brazil does not change its ...
Financial Reports
SUPPLIES, MIDEAST TENSION FUEL GAINS IN OIL
Petroleum futures rallied today in a market that was expecting declines in domestic supplies and became further unsettled by escalated Mideast fighting. Crude oil, gasoline and heating oil all posted gains on the New York Mercantile Exchange, with crude oil prices matching life-of-contract highs. Crude ...
Financial Reports
TORCHMARK <TMK> AUTHORIZES STOCK REPURCHASE
Torchmark Corp said its board authorized the purchase from time to time of a significant portion of its 7-3/4 pct convertible subordinated debentures. As of February 25, it said there were outstanding 150 mln dlrs of the principal amount of debenures. The company also said it plans to redeem the debentu...
Corporate News
7-APR-1987 17:17:34.97
7-APR-1987 17:17:34.97
Financial Reports
API SAYS DISTILLATE STOCKS UP 628,000 BBLS, GASOLINE UP 2.29 MLN, CRUDE UP 8.52 MLN
API SAYS DISTILLATE STOCKS UP 628,000 BBLS, GASOLINE UP 2.29 MLN, CRUDE UP 8.52 MLN
Financial Reports
SOUTHERN TEXAS GRAIN DIFFERENTIALS ADJUSTED
Posted county prices in 99 southern Texas counties have been changed to reflect only one market differential instead of the usual two-terminal market pricing system, a senior Agriculture Department official said. Interior grain and soybean prices in the affected counties will now be based solely against...
Corporate News
7-APR-1987 17:25:13.75
7-APR-1987 17:25:13.75
Financial Reports
CAMCO INC <CAM> SETS QUARTERLY
Qtly div 11 cts vs 11 cts prior Pay April 14 Record March 17
Financial Reports
AMOSKEAG BANK <AMKG> TO SEEK REHEARING
Amoskeag Bank Shares Inc and <Portsmouth Savings Bank> said they will file motions for a rehearing with the New Hampshire Supreme Court of its March 30 ruling that overturned state regulatory approval of Amoskeag's acquisition Portsmouth. "The ramifications of this decision, we believe, go well bey...
Financial Reports
EGYPT SAID TO CANCEL PL480 SOFT WHEAT TENDER
Egypt has cancelled its Export Bonus tender for 200,000 tonnes of soft red winter wheat for May-June shipment after failing to bid a price acceptable to USDA, private export sources said.
Financial Reports
DOE RECOMMENDS SPECIAL UNIT TO ENRICH URANIUM
Energy Secretary John Herrington told Congress that a federally chartered corporation would be the best way to manage and operate the government's uranium enrichment program. He said in a letter to Congressmen that unless the program, now run by the Energy Department, is improved, sales worth five bil...
Other
JORDAN BOOSTS BIDS IN EXPORT BONUS WHEAT TENDER
Jordan has boosted its bids for U.S. soft and hard wheat under Export Bonus, private export sources said. Jordan today bid 74 dlrs per tonne for soft wheat and 75 dlrs per tonne for hard red winter wheat in its tender for 225,000 tonnes of hard and soft wheat for April through November shipment. Earli...
Corporate News
MOROCCO TENDERS THURSDAY FOR PL 480 WHEAT
Morocco will tender Thursday for 120,000 to 210,000 tonnes of U.S. wheat, cheapest variety preferred, for May and June shipments under PL 480, private export sources said. The tender will consist of three lots of up to 70,000 tonnes each for shipment May 1-30, May 10-June 10, and May 25-June 25, they ...
Commodities and Trade
TRILON DECLARES STOCK DIVIDEND
<Trilon Financial Corp> said it declared a stock dividend of one class A share for each two class A shares held, payable May 15 to shareholders of record on April 30.
Corporate News
API SAYS DISTILLATE, GASOLINE STOCKS UP IN WEEK
Distillate fuel stocks held in primary storage rose by 628,000 barrels in the week ended April three to 106.96 mln barrels from a revised 106.33 mln the previous week, the American Petroleum Institute said. In its weekly statistical bulletin, the oil industry trade group said gasoline stocks rose 2.29 m...
Financial Reports
ALLEGHENY <AG> PREFERED SHAREHOLDERS FILE SUIT
Allegheny International Inc, which has agreed to a merge with a jointly-formed First Boston Inc affiliate in a deal worth 500 mn dlrs, said shareholders of its preferred stock have filed a class action complaint against the company. The complaint alleges, among other things, that the company and its b...
Other
CANADIANS URGE EXEMPTION FROM U.S. TRADE BILL
A group of Canadian lawmakers from Ontario today asked their U.S. counterparts to exempt Canada from the mandatory trade retaliation provisions in a major trade bill being considered by the U.S. Congress. At a meeting of the Northeast-Midwest Coalition, an organization of U.S. legislators, David Cooke, ...
Corporate News
AMERICAN AGRONOMICS CORP <AGR> 2ND QTR FEB 28
Shr profit one cts vs loss three cts Net profit 641,000 vs loss 992,000 Revs 26.0 mln vs 19.0 mln Six months Shr profit six cts vs loss six cts Net profit 2.8 mln vs loss 1.8 mln Revs 39.0 mln vs 37.4 mln NOTE:1987 six months includes gain of four cts from change in account...
Financial Reports
HELIG-MEYERS CO <HMY> INCREASES DIVIDEND
Qtly div eight cts vs seven cts prior Payable May 15 Record APril 29
Corporate News
HELIG-MEYERS CO <HMY> YEAR FEB 28
Shr 1.30 dlrs vs 1.07 dlrs Net 13.6 mln dlrs vs 10.2 mln Revs 271.2 mln vs 182.3 mln NOTE:1986 results reflect year 11 month period because company changed fiscal year to end February 28 from March 31.
Other
KELLY OIL AND GAS PARTNERS <KLY> YEAR DEC 31
Shr 36 cts vs 43 cts Net 1.3 mln vs 1.7 mln Revs 9.0 mln vs 7.9 mln
Financial Reports
JAPAN SEEKS TO STRENGTHEN PARIS CURRENCY ACCORD
Japan will seek to strengthen the Paris accord on currency stability at the meeting of the group of seven leading industrial nations tomorrow, Japanese officials said. However, the officials travelling with Japanese Finance Minister Kiichi Miyazawa and who asked not to be identified, would not provide...
Financial Reports
TCW CONVERTIBLE SECURITIES <CVT> SETS DIVIDEND
TCW Convertible Securities Fund Inc said its board declared an initial quarterly dividend of three cents per share, payable April 30 to shareholders of record April 17. TCW said it anticipates paying a regular quarterly dividend. The company made its initial public stock offering March five.
Financial Reports
CURRENCY FUTURES TO KEY OFF G-5, G-7 MEETINGS
News of an agreement among G-5 and G-7 finance ministers meeting in Washington this week will be key to the direction of currency futures at the International Monetary Market, but any such agreement will need to go beyond the Paris accord to stem the recent rise in futures, financial analysts said. "I...
Financial Reports
SENATE'S PROXMIRE URGES CURBS ON TAKEOVERS
Senate Banking Committee chairman William Proxmire called for curbs of hostile corporate takeovers and new restrictions on risk arbitrageurs. "At the very least, it is high time that we require all risk arbitrageurs to register seperately and specifically with the Securities and Exchange Commission and...
Financial Reports
POEHL WARNS AGAINST FURTHER DOLLAR FALL
Bundesbank President Karl Otto Poehl said a weaker dollar would be risky and a further appreciation of the mark would damage prospects for sustained West German economic growth. In a speech to the Institute of Contempory German Affairs here, Poehl said "It would be an extremely risky policy to aim for...
Corporate News
N.Z. UNEMPLOYMENT RATE 3.9 PCT IN DECEMBER QUARTER
New Zealand's unemployment rate was 3.9 pct of the workforce in the quarter ended December 31, unchanged from a revised 3.9 pct (preliminary 3.8 pct) in the previous quarter but slightly above 3.8 pct in the year-earlier quarter, the Statistics Department said. The Department, citing the Household Labou...
Financial Reports
Bank of Japan buys dollars shortly after opening at around 145.30 yen -- dealers
Bank of Japan buys dollars shortly after opening at around 145.30 yen -- dealers
Corporate News
BANK OF JAPAN INTERVENES SOON AFTER TOKYO OPENING
The Bank of Japan bought a small amount of dollars shortly after the opening at around 145.30 yen, dealers said. The central bank intervened as a medium-sized trading house sold dollars, putting pressure on the U.S. Currency, they said. The dollar was also supported by a major electrical consumer ...
Other
SPAIN TO LAUNCH EXPORT DRIVE
Spain unveils a 105 billion peseta plan this month aimed at boosting exports to reach European Community levels, director-general of the INFE export institute, Apolonio Ruiz Ligero, said. "The target is to raise exports to 20 pct of Gross Domestic Product over the next four years compared to 15 pct now,...
Financial Reports
JAPAN RUBBER STOCKS FALL IN MARCH
Japan's rubber stocks fell to 44,980 tonnes in March from 46,198 in February and from 53,784 in March 1986, the Japan Rubber Trade Association said. The stocks (in tonnes), with February and year-earlier comparisons, were - March 87 Feb 87 March 86 Crude Rubber 41,536 ...
Corporate News
SOUTH KOREAN WON FIXED AT 25-MONTH HIGH
THE BANK OF KOREA SAID IT FIXED THE MIDRATE OF THE WON AT 844.30 TO THE DOLLAR, ITS HIGHEST LEVEL SINCE FEBRUARY 26, 1985, WHEN IT WAS 843.90. THE WON WAS SET at 845.50 YESTERDAY. THE WON HAS RISEN 2.03 PCT AGAINST THE DOLLAR SO FAR THIS YEAR, AFTER RISING 3.34 PCT IN 1986.
Corporate News
ROSSIGNOL UNIT BUYS CANADIAN SKI BOOT MAKER
French ski and tennis equipment maker <Skis Rossignol> said its 97.7-pct owned subsidiary <Skis Dynastar SA> agreed to buy Canadian ski stick and boot manufacturer <CFAS> from <Warrington Inc>. A Rossignol spokesman declined to give financial details but said turnover of CFAS was about 100 m...
Corporate News
NIPPON MINING LOWERS COPPER PRICE
Nippon Mining Co Ltd said it lowered its selling price for electrolytic copper by 10,000 yen per tonne to 260,000, effective immediately.
Market and Economy
AUSTRALIAN UNIONS LAUNCH NEW SOUTH WALES STRIKES
Australian trade unions said they have launched week-long strikes and other industrial action in New South Wales (NSW) to protest against new laws that would reduce injury compensation payments. Union sources said talks with the state government broke down last night, but the two sides are scheduled to ...
Financial Reports
USF AND G CORP <FG> RAISES QUARTERLY DIVIDEND
Qtly div 62 cts vs 58 cts in the prior quarter Payable April 30 Record March 20
Financial Reports
<BRNF LIQUIDATING TRUST> SETS DISTRIBUTIONS
BRNF Liquidating Trust said trustees declared a 13th liquidating dividend of 1.10 dlrs per unit, payable April One to holders of record of its Series A, B and C certificates on March 18. The trust had paid a 12th liquidating distribution on January 15 amounting to 1.750 dlrs on Series A, 1.815 dlrs on ...
Financial Reports
STANLINE INC <STAN> 1ST QTR JAN 31 NET
Shr 20 cts vs 15 cts Net 345,970 vs 257,252 Revs 14.0 mln vs 13.4 mln NOTE: Share adjusted for five pct stock dividend in December 1986.
Financial Reports
DOW CHEMICAL CO <DOW> UNIT INCREASES PRICES
The Dow Chemical Co said its Engineering Thermoplastics Department will increase the selling prices of standard grades of MAGNUM ABS resins by three cts per pound. It also announced an increase of five cts per pound for performance grades of the resins. Both increases are effective April 1, 1987. ...
Commodities and Trade
SWIFT ENERGY CO <SFY> 4TH QTR NET
Shr 12 cts vs eight cts Net 485,866 vs 316,193 Revs 1,741,508 vs 1,440,154 Year Shr 28 cts vs 20 cts Net 1,108,314 vs 778,197 Revs 5,073,178 vs 3,687,160
Corporate News
BROWNING-FERRIS INDUSTRIES INC <BFI> IN PAYOUT
Qtly div 20 cts vs 20 cts prior Pay April 10 Record March 20
Financial Reports
BUFFTON CORP <BUFF> BUYS B AND D INSTRUMENTS
Buffton Corp said it completed the purchase of B and D Industruments Inc for two mln dlrs cash and 400,000 shares of common stock. It said B and D is a private company headquartered in Kansas, and had sales of 4,700,000 dlrs in 1986. Buffton said the company designs and manufactures aviation compu...
Other
VEREINS- UND WESTBANK TO REORGANIZE NETWORK
und Westbank AG <VHBG.F> plans to streamline its branch network to improve its distribution of financial services, management board member Eberhard-Rainer Luckey said. He told a news conference on 1986 results that branches in Hamburg and Schleswig-Holstein would be merged or closed, a branch in Fr...
Financial Reports
BALDRIGE CONCERNED ABOUT KOREAN/TAIWAN DEFICITS
Secretary of Commerce Malcolm Baldrige expressed concern about the continuing U.S. trade deficits with South Korea and Taiwan and said that without an adjustment in exchange rates there is little likelihood of improvement. Speaking to the President's Export Council, an industry advisory group, Baldrig...
Financial Reports
ALLWASTE <ALWS> TO MAKE ACQUISITION
Allwaste Inc said it has agreed in principle to acquire an air-moving and related industrial services company it did not identify for up to 1,400,000 dlrs in common stock.
Market and Economy
CASTLE AND COOKE <CKE> TAKES FOURTH QTR LOSS
Castle and Cooke Inc said it would take a fourth quarter after-tax loss of 33.9 mln dlrs from the previously reported sale of its Flexi-Van container leasing business to Itel Corp <ITEL> for about 215 mln dlrs. Earlier, the company reported a loss for the fourth quarter ended January 3 of 31.9 mln dl...
Financial Reports
FED EXPECTED TO ADD TEMPORARY RESERVES
The Federal Reserve is expected to enter the U.S. Government securities market to add temporary reserves, economists said. They expect it to supply the reserves indirectly by arranging around 1.5 of customer repurchase agreements. Federal funds, which averaged 6.22 pct yesterday, opened at six pct...
Financial Reports
CONVENIENT FOOD MART <CFMI> AGREES TO BUY CHAIN
Convenient Food Mart Inc said it has tentatively agreed to buy all the outstanding stock of Plaid Pantries Inc and two associated businesses in Oregon and Washington for undisclosed terms. Plaid Pantries owns and operates 161 convenience stores in the Portland and Seattle areas. The other business are t...
Commodities and Trade
WAL-MART STORES INC 4TH QTR SHR 65 CTS VS 47 CTS
WAL-MART STORES INC 4TH QTR SHR 65 CTS VS 47 CTS
Financial Reports
TECHAMERICA GROUP INC <TCH> 4TH QTR LOSS
Shr loss six cts vs not available Net loss 562,231 vs profit 10,253 Revs 8,871,874 vs 9,549,308 Year Shr loss 60 cts vs loss nine cts Net loss 5,058,145 vs loss 766,185 Revs 34.3 mln vs 35.5 mln
Corporate News
MARINE MIDLAND <MM> BUYS BROKERAGE ASSETS
Marine Midland Banks Inc said it has acquired the customer account base of New York discount brokerage firm Ovest Financial Services Inc for undisclosed terms to expand its discount brokerage operations in the Northeastern U.S. It said it will combine Ovest's activities with those of its Marine Midlan...
Financial Reports
U.S. TREASURY DEPUTY ASST SECRETARY BERGER SAYS FURTHER DOLLAR DROP COULD CAUSE INFLATION
U.S. TREASURY DEPUTY ASST SECRETARY BERGER SAYS FURTHER DOLLAR DROP COULD CAUSE INFLATION
Corporate News
DOM REPUBLIC SELLS CZARNIKOW 35,000 TONS SUGAR
The Dominican Republic sold 35,000 long tons of sugar for immediate delivery, with an option for 25,000 tons more, to Czarnikow Rionda of New York, the state sugar council announced. It was not immediately clear when the sale was made or at what price. A council communique said "the sale was made at the...
Commodities and Trade
WILFRED AMERICAN EDUCATIONAL <WAE> REGULAR DIV
Qtly div three cts vs three cts prior Pay April three Record March 13
Financial Reports
EC BACKS NEW MOVE TO ENCOURAGE UNLEADED GASOLINE
The EC Executive Commission has backed a plan to allow member countries to ban regular leaded gasoline in a move designed to encourage use of unleaded fuel. It said in a statement it backed a proposal to allow EC states to ban sales of regular grade gasoline containing lead at six months notice. The pro...
Commodities and Trade
SUN RAISES CRUDE OIL POSTINGS ONE DLR ACROSS BOARD. WTI NOW 17.00 DLRS/BBL
SUN RAISES CRUDE OIL POSTINGS ONE DLR ACROSS BOARD. WTI NOW 17.00 DLRS/BBL
Corporate News
<DEVTEK CORP> 2ND QTR JAN 31 NET
Shr 14 cts vs nine cts Net 1,180,000 vs 640,000 Revs 25.6 mln vs 20.1 mln Six mths Shr 26 cts vs 12 cts Net 2,103,000 vs 853,000 Revs 44.8 mln vs 33.0 mln
Corporate News
SAXTON INDUSTRIES LTD <SAXIF> YEAR NET
Shr 13 cts vs 41 cts Net 1,079,100 vs 3,535,205 Revs 13.6 mln vs 16.2 mln Note: Current results for 16 months after change in fiscal year end to December 31 from August 31
Corporate News
TORONTO SUN PLANS TWO-FOR-ONE STOCK SPLIT
<Toronto Sun Publishing Corp> said it planned a two-for-one split of its common shares, subject to regulatory approval and approval by shareholders at the April 21 annual meeting.
Financial Reports
SERVO CORP OF AMERICA <SCA> 1ST QTR JAN 31 NET
Shr 43 cts vs 41 cts Net 316,000 vs 298,000 Sales 4,857,000 vs 4,543,000
Financial Reports
ELECTRO-NUCLEONICS INC <ENUC> 2ND QTR DEC 31
Shr loss 1.77 dlrs vs profit 15 cts Net loss 8,036,000 vs profit 576,000 Sales 16.2 mln vs 17.2 mln Avg shrs 4,539,437 vs 3,816,580 1st half Shr loss 1.96 dlrs vs profit 26 cts Net loss 8,231,000 vs profit 996,000 Sales 30.9 mln vs 32.2 mln Avg shrs 4,205,707 vs 3,814,1...
Financial Reports
WAL-MART STORES INC <WMT> 4TH QTR JAN 31 NET
Shr 65 cts vs 47 cts Net 184.3 mln vs 133.1 mln Sales 3.85 billion vs 2.77 billion Year Shr 1.59 dlrs vs 1.16 dlrs Net 450.1 mln vs 327.5 mln Sales 11.91 billion vs 8.45 billion
Commodities and Trade
DREXEL OFFICIAL HAS STAKE IN EPSILON DATA <EPSI>
A senior official of Drexel Burnham Lambert Inc and his father told the Securities and Exchange Commission they have acquired 258,591 shares of Epsilon Data Management Inc, or 9.4 pct of the total outstanding. Kenneth Thomas, senior vice president-investments at Drexel's Los Angeles office, and his fath...
Other
<MIRTONE INTERNATIONAL INC> 1ST QTR DEC 31 NET
Shr two cts vs two cts Net 407,396 vs 376,243 Revs 5,341,353 vs 4,292,819
Financial Reports
U.S. TREASURY AIDE WARNS ON INFLATION
Thomas Berger, Deputy Assistant Secretary of the Treasury, said that a further drop in the exchange value of the dollar could cause prices to go up and trigger inflation. He told a meeting of the President's Export Council that the Japanese and the Germans have cut their profit margins to reflect rece...
Financial Reports
LEAF DISEASE HITS SRI LANKA RUBBER
A leaf disease affecting seven pct of Sri Lanka's rubber plantations may reduce output this year and raise currently depressed prices, industry officials and researchers told Reuters. About 2,900 hectares of rubber planted with the Rubber Research Institute (RRI) clone 103 have been hit by the fungus ...
Corporate News
PYRO ENERGY CORP <BTU> YEAR NET
Shr 36 cts vs 66 cts Net 4,775,000 vs 9,342,000 Revs 105.5 mln vs 130.0 mln
Commodities and Trade
EC COMMISSION DETAILS SUGAR TENDER
The European Commission confirmed it authorised the export of 60,500 tonnes of current series white sugar at a maximum rebate of 43.147 European Currency Units (ECUs) per 100 kilos. Out of this, traders in the U.K. Received 43,500 tonnes, in the Netherlands 12,000, in Denmark 4,000 and in West Germany ...
Other
UNITRODE CORP <UTR> 4TH QTR JAN 31 LOSS
Shr loss 13 cts vs profit 10 cts Net loss 1,804,062 vs profit 1,370,063 Revs 33.5 mln vs 40.4 mln 12 mths Shr loss 51 cts vs profit cts Net loss 7,030,235 vs profit 9,163,141 Revs 149.4 mln vs 167.9 mln NOTE: income before taxes for the 12 mths ended Jan 1987 includes gains...
Corporate News
BUEHLER INTERNATIONAL INC <BULR> 4TH QTR NET
Shr five cts vs 20 cts Qtly div two cts vs two cts prior Net 223,000 vs 1,418,000 Sales 15.3 mln vs 17.1 mln Year Shr 61 cts vs 81 cts Net 3,106,000 vs 5,940,000 Sales 63.0 mln vs 59.5 mln NOTE: 1986 net includes tax credits of 63,000 dlrs in quarter and 1,365,000 dlr...
Corporate News
STANHOME INC <STH> RAISES QUARTERLY TWO CTS
Qtly div 23 cts vs 21 cts prior Pay April 1 Record March 16
Financial Reports
INSTRON CORP <ISN> SETS QUARTERLY
Qtly div three cts vs three cts prior Pay April 2 Record March 16
Corporate News
GERMAN INSTITUTE SEES INFLATION RISING IN 1987
The cost of living in West Germany will likely be about 0.5 pct higher on average in 1987 than in 1986, when the cost of living actually fell by an average 0.2 pct in the first recurrence of "negative inflation" since the 1950s, the HWWA economic research institute said. The re-emergence of inflation wi...
Financial Reports
FED DRAFTS CURRENCY, RATE SWAP RISK GAUGE
The Federal Reserve Board voted unanimously to propose a formula for calculating the risk of interest rate and currency swaps as part of its ongoing effort to come up with a new capital standard for U.S. banks that takes into account the riskiness of a bank's loans and other assets. Fed officials said...
Other
IDEAL SCHOOL SUPPLY CORP <IDEL> 4TH QTR NET
Oper shr 10 cts vs eight cts Oper net 325,000 vs 228,000 Sales 7,070,000 vs 6,483,000 Avg shrs 3,313,000 vs three mln Year Oper shr 69 cts vs 51 cts Oper net 2,124,000 vs 1,536,000 Sales 31.2 mln vs 22.7 mln Avg shrs 3,071,000 vs three mln NOTE: 1986 net both peri...
Other
SALOMON INC <SB> SETS REGULAR QUARTERLY
Qtly div 16 cts vs 16 cts prior Pay April One Rcord March 20
Financial Reports
JANUARY CRUDE OIL MOVEMENTS FALL SEVEN MLN TONS
Worldwide spot crude oil movements fell to 30.07 mln long dwt in February from 37.25 mln tons in January and 41.44 mln in December, London shipbroker Howard Houlder said. The decline mainly reflected a sharp drop in movements out of the Mideast Gulf, which totalled 7.4 mln tons last month against 11.6...
Corporate News
EC SOURCES DETAIL NEW FARM SOCIAL PACKAGE
The 350 mln Ecu three-year package of social and structural measures agreed early today by European Community farm ministers features a plan to compensate farmers for reducing output of certain surplus products, EC Commission sources said. The ministers agreed that under this "extensification" scheme,...
Financial Reports
U.S., BRITAIN AGREE FURTHER BANK CAPITAL PROPOSALS
The Bank of England and the U.S. Federal Reserve Board have agreed new proposals for joint standards to measure the risk of an array of credit exposures that do not show up in bank balance sheets, the Bank of England said. The plan, covering swaps, forward contracts and options involving interest or exc...
Commodities and Trade
PIEDMONT AVIATION <PIE> BOARD TO MEET TODAY
Piedmont Avaition Inc's board of directors will conduct a special meeting beginning at 1400 est today, a Piedmont spokesman said. The spokesman would not say what was on the agenda. In mid-February, Piedmont said its board would meet to discuss all proposals to acquire the company. Its board also ...
Corporate News
FIRST UNION <FUR> LEAVES DIVIDEND UNCHANGED
First Union Real Estate Investments said its board left the quarterly dividend unchanged at 37-1/2 cts per share, payable April 30, record March 31. The trust, which has raised its quarterly dividend frequently in the past two years and in the first quarter in both years, said the Tax Reform Act of 1986...
Financial Reports
RYKOFF-SEXTON INC <RYK> 3RD QTR JAN 31 NET
Shr 21 cts vs 28 cts Net 1,456,000 vs 1,925,000 Sales 258.7 mln vs 290.2 mln Nine Mths Shr 77 cts vs 1.10 dlrs Net 5,384,000 vs 7,658,000 Sales 804.3 mln vs 760.1 mln
Corporate News
SYSTEM SOFTWARE ASSOCIATES <SSAX> 1ST QTR NET
Periods end January 31, 1987 and 1986 Shr 12 cts vs nine cts Net 507,000 vs 362,000 Revs 5,010,000 vs 3,558,000 NOTE: System Software Associates Inc is full name of company.
Financial Reports
GEICO CORP <GEC> RAISES QTRLY DIVIDEND
Qtrly div 34 cts vs 27 cts prior Pay March 31 Record March 16
Industrial and Sector News
STANLEY WORKS <SWK> SETS QUARTERLY
Qtly div 19 cts vs 19 cts prior Pay March 31 Record March 12
Financial Reports
NOVELL INC <NOVL> 1ST QTR JAN 31 NET
Shr 31 cts vs 20 cts Net 3,541,000 vs 2,071,000 Sales 29.9 mln vs 14.5 mln Avg shrs 11.6 mln vs 10.4 mln NOTE Fourteen vs 13-week periods.
Financial Reports
<NOVA> WINS GOVERNMENT OKAY FOR HUSKY <HYO> DEAL
Nova, the Canadian company that owns 56 pct of Husky Oil Ltd, said it received government approval for a transaction under which <Union Faith Canada Holding Ltd> would buy a 43 pct stake in Husky. Nova said the Minister of Regional and Industrial Expansion, Michel Cote, ruled that Union Faith's purch...
Commodities and Trade
FROST NOT EXPECTED TO DAMAGE POLAND'S WHEAT
Poland's winter wheat is likely to survive recent frosts but the impact of the cold will not be known until late April, the Polish meteorology institute said. Some varieties of winter wheat sown in Poland can survive ground temperatures as low as minus 20 degrees C, Spokesman Teresa Tomaszewska told Reu...
Financial Reports
BROWN-FORMAN <BFDB> TO CHANGE RECORD DATES
Brown-Forman Inc said at the suggestion of the American Stock Exchange it has changed the record date for the 28 ct per share quarterly dividend on its Class A and Class B common stock that is payable April One to March 20 from March 13, to coincide with the record date for a three-for-two stock split decla...
Financial Reports
GOODYEAR TIRE <GT> DETAILS 1986 TAX REFUND
Goodyear Tire and Rubber Co said its 1986 results include a tax refund of 75.7 mln dlrs from the costs of restructuring the company in a successful defense against a takeover attempt by James Goldsmith. Chairman Robert Mercer said, "Heavy restructuring costs related to the takeover attempt combined with...
Corporate News
GREAT NORTHERN NEKOOSA <GNN> ANNOUNCES SPLIT
The Great Northern Nekoosa Corp said it will recommend to shareholders a two-for-one common stock split. The company said it will make the proposal to shareowners at its annual mmeting May 6 in Dothan, Ala., near the company's Great Southern Paper division operations. In conjunction with the stock...
Commodities and Trade