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HARRIS LIFTS BUILDERS TRANSPORT <TRUK> STAKE
| Harris Associates L.P., a Chicago
investment advisor, said it raised its stake in Builders
Transport Inc to the equivalent of 466,754 shares, or 9.1 pct
of the total outstanding, from 335,800 shares, or 6.7 pct.
In a filing with the Securities and Exchange Commission,
Harris said it bought 36,700 Builde... | Financial Reports |
COFFEE TALKS FAILURE SEEN PRESSURING U.S.
| Failure of talks on re-establishing
International Coffee Organization, ICO, coffee quotas last week
may put political pressure on the United States, particularly
the State Department, to reassess its position, but the U.S. is
unlikely to back away from its basic demand quotas be set by
"objective criteria",... | Corporate News |
INVESTORS HAVE 12.9 PCT OF EXOVIR <XOVR>
| Mark Hammer, a private investor from
Melville, N.Y., and members of his family told the Securities
and Exchange Commission they have acquired a total of 375,200
shares of Exovir Inc, or 12.9 pct of the total outstanding.
Hammer said his group has been accumulating Exovir stock
since Oct 28, 1985 for inv... | Financial Reports |
TORRENTIAL RAINS HALT ARGENTINE GRAIN HARVEST
| Torrential rains throughout
Argentina's grain-producing areas virtually paralysed coarse
grain harvesting in the week to yesterday, trade sources said.
Sunflower, maize and sorghum harvests were particularly
affected, they said. But the rains proved to be a great aid to
soybean crops as their harvesting... | Industrial and Sector News |
LOTUS <LOTS> TO ACQUIRE <COMPUTER ACCESS CORP>
| Lotus Development Corp said it
has signed a letter of intent to acquire substantially all of
the assets of Computer Access Corp for undisclosed terms.
Computer Asscess makes BlueFish full-text search and
retrieval software for International Business Machines Corp
<IBM> and compatible personal compute... | Financial Reports |
EQUITABLE OF IOWA COS <EQICA> 4TH QTR NET
| Oper shr 78 cts vs 51 cts
Oper net 7,030,000 vs 4,944,000
Revs 126.6 mln vs 120.9 mln
Year
Oper shr 1.59 dlrs vs 89 cts
Oper net 14.7 mln vs 9,864,000
Revs 425.1 mln vs 416.9 mln
NOTE: Net excludes realized gains on investment of 73,000
dlrs vs 4,224,000 dlrs in quarter and... | Financial Reports |
CORROON AND BLACK CORP <CBL> RAISES QUARTERLY
| Qtly div 21 cts vs 16-1/4 cts prior
Pay April One
Record March 17
| Commodities and Trade |
EC APPOINTS NEW TRADE CHIEF
| The European Community Commission today
appointed its chief spokesman, Hugo Paemen, as its top official
in charge of multilateral trade negotiations, a Commission
spokesman said.
Paemen, a Belgian official who had previously been chief
aide to former External Affairs Commissioner Etienne Davignon,
has... | Financial Reports |
U.S. SENATOR TO PROPOSE 0/92 FOR 1987 CROPS
| Sen. Rudy Boschwitz, R-Minn., said he
intended to offer legislation that would allow 1987 producers
of wheat, feedgrains, cotton and rice to receive at least 92
pct of their deficiency payments, regardless of how much they
planted.
Boschwitz told the Senate Agriculture Committee that
applying the so-c... | Financial Reports |
INDIA BUYS UP TO 10 CARGOES SUGAR - TRADERS
| India bought up to 10 cargoes of white
sugar at a buying tender today which originally called for just
two to three cargoes of March/April shipment, traders said.
London trader E D and F Man said it sold two cargoes at 233
dlrs a tonne CIF for March/April shipment with an option to
sell an additional tw... | Commodities and Trade |
POTOMAC ELECTRIC POWER CO <POM> JANUARY NET
| Oper shr 27 cts vs 29 cts
Oper net 13.5 mln vs 14.6 mln
Revs 104.6 mln vs 110.3 mln
12 mths
Oper shr 4.10 dlrs vs 3.66 dlrs
Oper net 205 mln vs 186.8 mln
Revs 1.4 billion vs 1.3 billion
NOTE: 1986 12 mths oper net excludes extraordinary gain of
21.7 mln dlrs or 46 cts per s... | Financial Reports |
HAYES-ALBION <HAY> DELAYS SPECIAL MEETING
| Hayes-Albion Corp said it has
delayed the special meeting at which shareholders will vote on
its merger into Harvard Industries Inc <HAVA> until March 24
from March 17 due to a delay in Securities and Exchange
Commission clearance of proxy materials.
| Financial Reports |
GROSSMAN'S INC <GROS> 4TH QTR LOSS
| Oper shr loss nine cts vs profit 12 cts
Oper net loss 1,791,000 vs profit 2,336,000
Sales 242.9 mln vs 225.8 mln
Year
Oper shr profit 15 cts vs loss 17 cts
Oper net profit 2,925,000 vs loss 3,324,000
Sales 1.01 billion vs 875.6 mln
NOTE: Net includes discontinued operations g... | Corporate News |
COMDATA NETWORK <CDN> IN NEW ACQUISITION TALKS
| Comdata Network Inc said it is
in active talks with other parties on a possible acquisition or
recapitalization of Comdata in an effort to maximize
shareholder values.
Comdata said <Rosewood Financial Inc> together with
<Cypress Partners LP> and <Driftwood Ltd> have acquired over
five pct of ... | Financial Reports |
NORTHGATE <NGX> QUEBEC ORE RESERVES DECLINE
| Northgate Exploration Ltd said year-end
1986 ore reserves at its two Chibougamau mines in Quebec fell
to 8,141,150 short tons grading 0.077 ounce gold a ton and 1.63
pct copper from year-earlier 8,462,000 tons grading 0.077 ounce
gold ton and 1.67 pct copper.
The company said it launched a 700,000 dlr e... | Financial Reports |
WEBCOR ELECTRONICS INC <WER> 3RD QTR DEC 31
| Shr loss 51 cts vs loss 44 cts
Net loss 1.8 mln vs loss 1.5 mln
Revs 3.1 vs 5.4 mln
Nine months
Shr loss 1.16 dlrs vs loss 1.33 dlrs
Net loss 4.0 mln vs loss 4.6 mln
Revs 9.9 mln vs 12.3 mln
| Financial Reports |
COMMUNICATIONS SYSTEMS INC <CSII> 4TH QTR NET
| Shr 12 cts vs 10 cts
Net 613,986 vs 534,093
Revs 9,494,570 vs 7,591,564
Year
Shr 41 cts vs 59 cts
Net 2,151,130 vs 3,111,317
Revs 35.9 mln vs 33.7 mln
NOTE: 1986 net includes gains from discontinued operations
equal to three cts compared with nine cts in 1985.
| Commodities and Trade |
TURKEY SEES 1.5 BILLION DLR DEFICIT IN 1986
| Turkey expects a 1986 balance of payments
deficit of 1.5 billion dlrs, well over target, but is taking
steps to improve its performance in this and other fields, Ali
Tigrel, director of economic planning at the State Planning
Organisation said.
He told Reuters the shortfall was a direct consequence of
... | Other |
ENERGY/CALIFORNIA OIL PRODUCTION
| Drilling for oil in California is
likely to continue at last year's sharply reduced levels
despite recent gains in crude oil prices, industry analysts
said.
Because much of the crude oil in California fields is
thick, heavy and expensive to extract, oil prices would have to
increase to near 1985's lev... | Commodities and Trade |
STANDARD OIL <SRD> IN TEXAS NATURAL GAS FIND
| Standard Oil Co said the Friendswood
Development Number One well in the Fostoria or Deep Wilcox
Field of Montgomery County, Texas, flowed 4,500,000 cubic feet
of natural gas per day from depths of 14,252 to 14,486 feet
through a 14/64 inch choke.
It said it has contracted for Perry Gas Cos Inc to purcha... | Corporate News |
SUFFIELD FINANCIAL <SSBK> GETS FED APPROVAL
| Suffield Financial Corp said the
Federal Reserve Board approved its application to acquire
Coastal Bancorp <CSBK>, Portland, Me.
Suffield said it still needs the approval of the
superintendent of Maine's banking department.
| Financial Reports |
WEBCOR ELECTRONICS <WER> IN TECHNICAL DEFAULT
| Webcor Electronics Inc said it
remains in technical and payment default under its revolving
credit agreement and in technical default under certain other
obligations to its lender.
Although its lender has not enforced its right to demand
payment of the debt in full, it continues to reserve its right
t... | Corporate News |
FIRST SAVINGS BANK FLORIDA <FSBF> SETS MEETING
| First Savings Bank of
Florida said it expects a special shareholder meeting to be
held around May 21 to consider the proposed merger into
Gibraltar Financial Corp <GFC>.
It said the annual meeting will be held April 30 to elect
two directors and ratify the appointment of auditors.
| Financial Reports |
IZVESTIA SAYS SOVIET WINTER CROPS NEED RESEEDING
| The government daily Izvestia said a
considerable amount of Soviet winter crops need to be reseeded
and the state 1987 grain harvest target of 232 mln tonnes will
not be easy to fulfil.
Without giving figures, the newspaper said: "A considerable
part of the winter crops must be reseeded, but that create... | Financial Reports |
BORMAN'S <BRF> TO BUY SAFEWAY'S UTAH DIVISION
| Safeway Stores Inc said it
agreed to sell the assets and operations of its Salt Lake City
Division to Borman's Inc under undisclosed terms.
The division includes 60 operating supermarkets in five
states, most of which are in Utah, Idaho and Wyoming, together
with distribution and manufacturing facilitie... | Financial Reports |
FISHER FOODS <FHR> SAYS STAKE IN FIRM SOLD
| Fisher Foods Inc said
<American Financial Corp> has sold its 1,500,000 Fishers
shares, a 44 pct interest, to a group consisting of <American
Seaway Foods Inc>, <Rini Supermarkets Inc> and <Rego
Supermarkets Inc>.
The company said in connection with the transaction, all
five American Financ... | Financial Reports |
AFG INDUSTRIES INC <AFG> QUARTERLY DIVIDEND
| Qtly div four cts vs four cts
Pay April 3
Record March 23
| Financial Reports |
U.S. SENATE PANEL MAKES CONSERVATION EXEMPTION
| The U.S. Senate Agriculture Committee
approved a measure that would exempt farmers who planted
alfalfa or other multiyear grasses and legumes between 1981 and
1985 from a federal conservation requirement.
Sen. Edward Zorinsky, D-Neb., said his bill would restore
equity under federal sodbuster rules, whi... | Commodities and Trade |
PICO PRODUCTS INC <PPI> 2ND QTR JAN 31
| Shr profit three cts vs loss nine cts
Net profit 103,664 vs loss 326,675
Revs 7.6 mln vs 6.9 mln
Six months
Shr loss two cts vs loss 15 cts
Net loss 78,246 vs loss 522,868
Revs 14.7 mln vs 12.9 mln
NOTE:1986 net includes gain of 43,185 or one cts in 2nd qtr
and six months f... | Financial Reports |
OUTBOARD MARINE <OM> RISING ON TAKEOVER RUMOR
| Wall Street traders said the stock of
Outboard Marine Corp was rising on a rumor over a cable
television program that Outboard is a likely takeover target of
Sun Chemical Corp <SNL>.
Outboard was up 3-1/8 to 34-5/8. On Tuesday it rose 1-3/8
to 31-1/2 Tuesday.
A report on Cable News Network toda... | Financial Reports |
<ALGOMA CENTRAL RAILWAY> 4TH QTR NET
| Oper shr 36 cts vs 39 cts
Oper net 1,391,000 vs 1,485,000
Revs 61.6 mln vs 58.5 mln
YEAR
Oper shr 70 cts vs 1.16 dlrs
Oper net 2,677,000 vs 4,410,000
Revs 207.6 mln vs 200.2 mln
Note: 1986 net excludes extraordinary loss of 297,000 dlrs
or eight cts shr vs yr-ago gain of 51... | Commodities and Trade |
GENOVA INC <GNVA> 1ST QTR DEC 27 NET
| Oper shr profit four cts vs loss four cts
Oper net profit 151,448 vs loss 170,709
Sales 11.5 mln vs 9,581,406
NOTE: Prior year net includes 123,650 dlr tax credit but
excludes 52,409 dlr gain on early debt retirement.
| Financial Reports |
<GSW INC> YEAR NET
| Oper shr 2.16 dlrs vs 2.07 dlrs
Oper net 8,037,000 vs 7,710,000
Revs 136.4 mln vs 133.3 mln
Note: 1986 net excludes extraordinary gain of 13 mln dlrs
or 3.50 dlrs shr from sale of <Camco Inc> shares vs yr-ago loss
of 4.3 mln dlrs or 1.14 dlrs shr.
| Financial Reports |
FRENCH WHEAT EXPORTS TO EC FALL
| French soft wheat exports to other
European Community countries fell 18 pct to 4.13 mln tonnes in
the first seven months of the 1986/87 season to January
compared with 5.04 mln in the same 1985/86 period, the French
Cereals Intervention Office (ONIC) said.
According to latest ONIC statistics, the main b... | Financial Reports |
SUPREME EQUIPMENT/SYSTEMS CORP <SEQP> 2ND QTR
| Shr 61 cts vs 18 cts
Net 670,000 vs 194,000
Revs 10.7 mln vs 10.4 mln
Six months
Shr 73 cts vs 35 cts
Net 798,000 vs 377,000
Revs 19.5 mln vs 19.8 mln
NOTE:1987 net includes gain of 362,000 dlrs in 2nd qtr and
431,000 dlrs in six months from tax loss carryforward.
| Other |
GULF APPLIED TECHNOLOGIES INC <GATS> 4TH QTR
| Oper shr loss five cts vs loss 24 cts
Oper net loss 165,000 vs loss 802,000
Revs 4,988,000 vs 3,101,000
Year
Oper shr loss 13 cts vs loss 1.33 dlrs
Oper net loss 454,000 vs loss 4,407,000
Revs 23.1 mln vs 8,937,000
NOTE: Results restated for discontinued operations.
198... | Financial Reports |
VAN DORN CO <VDC> 4TH QTR NET
| Shr 55 cts vs 80 cts
Net 2,517,443 vs 3,633,217
Revs 79.1 mln vs 76.3 mln
12 mths
Shr 2.57 dlrs vs 3.41 dlrs
Net 11.7 mln vs 15.4 mln
Revs 305.1 mln vs 314.3 mln
| Financial Reports |
FIELDCREST CANNON INC <FLD> SETS QUARTERLY
| Qtly div 17 cts vs 17 cts prior
Pay March 31
Record March 17
| Financial Reports |
VARIAN <VAR> BUYS ANALYTICHEM INTERNATIONAL
| Varian Associates Inc said it
acquired all the outstanding stock of closely-held Analytichem
International Inc for an undisclosed amount of cash.
Analytichem, based in Harbor City, Calif., is a supplier of
bonded phase preparation products used to prepare chemical
samples for analysis, Varian said.
| Corporate News |
SANTA ANITA REALTY <SAR> QUARTERLY DIVIDEND
| Qtly div 51 cts vs 51 cts
Pay April 9
Record March 25
(Santa Anita Realty Enterprises Inc)
| Financial Reports |
KANEB SERVICES INC <KAB> 4TH QTR LOSS
| Oper shr loss 1.05 dlrs vs profit nine cts
Oper net loss 30.5 mln vs profit 3,930,000
Revs 23.9 mln vs 45.6 mln
12 mths
Oper shr loss 5.30 dlrs vs profit 34 cts
Oper net loss 155.8 mln vs profit 16.0 mln
Revs 113.7 mln vs 178.8 mln
Note: Oper excludes loss from discontinued o... | Other |
SUSPENSIONS/PARTS INDUSTRIES LTD <SPILF> YEAR
| Shr 33 cts vs 60 cts
Net 1.1 mln vs 1.7 mln
Revs 11.7 mln vs 10.6 mln
NOTE:Full name is Suspensions and Parts Industries Ltd.
| Commodities and Trade |
ESTIMATED FRENCH BARLEY STOCKS WORRYING - ONIC
| The size of French 1986/87 carryover
barley stocks, estimated at 1.72 mln tonnes compared with
700,000 tonnes in 1985/86 is worrying, French Cereals
Intervention Office (ONIC) Director Bernard Vieux said.
He told journalists these estimates were unchanged at the
end of February from the previous month w... | Corporate News |
MITCHELL ENERGY AND DEVELOPMENT CORP <MND>PAYOUT
| Qtly div six cts vs six cts prior
Pay April Two
Record March 18
| Financial Reports |
FROST AND SULLIVAN INC <FRSL> 2ND QTR JAN 31
| Shr profit 12 cts vs loss two cts
Net profit 182,173 vs loss 28,977
Revs 4,483,047 vs 3,994,808
1st half
Shr profit 14 cts vs loss eight cts
Net profit 221,376 vs loss 120,435
Revs 8,270,947 vs 7,150,265
| Financial Reports |
S. KOREAN TRADE SURPLUS WITH U.S. SEEN FALLING
| South Korea's record 7.1 billion dlrs
trade surplus with the U.S. is bound to diminish as the
country switches purchases from Japan in favor of U.S.
companies, Trade Minister Woong-Bae Rha said.
He rejected suggestions the Korean Won is undervalued, and
denied any plans for a "drastic and sudden" reval... | Corporate News |
CRI INSURED <CII> TO SET SPECIAL DISTRIBUTION
| CRI Insured Mortgage Investments
Inc said its advisor will recommend a special distribution of
50 cts per share due to the sale of a federally insured first
mortgage on Park Meadows I in Madison, Wis., for 4,267,871
dlrs.
It said it received a 3,695,465 dlr return of capital and
572,406 dlrs in income... | Financial Reports |
KANEB ENERGY PARTNERS LTD <KEP> 4TH QTR LOSS
| Unit loss one ct
Net loss 186,000
Revs 10.7 mln
11 mths
Unit loss 7.26 dlrs
Net loss 121.4 mln
Revs 46.9 mln
Note: Partnership formed in February 1986.
Net includes writedown of oil and gas assets of 124.8 mln
dlrs for 11 mths to comply with full-cost accounting metho... | Financial Reports |
DIGICON <DGC> COMPLETES SALE OF UNIT
| Digicon Inc said it has completed the
previously-announced disposition of its computer systems
division to an investment group led by <Rotan Mosle Inc's>
Rotan Mosle Technology Partners Ltd affiliate.
| Financial Reports |
LIQUID AIR CORP <LANA> QUARTERLY DIVIDEND
| Qtly div 40 cts vs 40 cts
Pay March 31
Record March 16
| Commodities and Trade |
TEXAS EASTERN <TET> BUYS PETROLEUM TERMINAL
| Texas Eastern Corp said it has completed
the purchase of an idle petroleum products terminal near Norris
City, Ill., from <Growmark Inc> for undisclosed terms and will
reopen it in September after remodeling.
The company said the terminal will handle leaded and
unleaded regular gasolines, number two ... | Commodities and Trade |
STERLING IN TEXAS GAS AND OIL DISCOVERY
| <Sterling Investment Group>
said it successfully drilled and completed a significant
development well 65 miles southwest of Houston, Texas.
The well has a choke of 11/64 of an inch and is 10,097 feet
deep.
The well initially tested at a maximum daily flow rate of
two mln cubic feet of gas and 3... | Other |
COMPUTER HORIZONS <CHRZ> IN ACQUISITION
| Computer Horizons Corp said it
purchased ComputerKnowledge Inc, a software training education
company headquartered in Dallas.
Terms were not disclosed.
| Financial Reports |
POLICY MANAGEMENT <PMSC> MAKES ACQUISITION
| Policy Management Systems Corp
said it has acquired the majority of the assets and business of
Allied Research Inc of Salem, Ore., and Consolidated Insurance
Services Inc, of Springfield, Va., for undisclosed terms.
It said the two companies, which had combined 1986 revenues
of about two mln dlrs, provi... | Corporate News |
UNICORP CANADA<UNI.A> CUTS PUROLATOR<PCC> STAKE
| Unicorp Canada Corp told the
Securities and Exchange Commission it cut its stake in
Purolator Courier Corp to 286,500 shares, or 3.7 pct of the
total outstanding, from 962,400 shares, or 12.4 pct.
Unicorp, a management and investment holding company
controlled by its chairman, George Mann, said it sold ... | Other |
(MARSHALL STEEL LTD) YEAR NET
| Oper shr five cts vs 36 cts
Oper net 508,000 vs 3,450,000
Revs 296.7 mln vs 298.0 mln
Note: former name Marshall Drummond McCall Inc.
Results include extraordinary gains of 952,000 dlrs or 11
cts per share in 1986 and 2,569,000 dlrs or 29 cts in 1985 from
income tax reduction. ... | Financial Reports |
FIRM ACQUIRES <AMERICAN NUTRITION WORKS INC>
| <Nusource Investments Inc>, a
publicly held shell company, said it acquired American
Nutrition Works Inc through a transaction in which American
Nutrition shareholders received 28 mln shares of Nusource stock
in exchange for their shares.
American Nutrition operates a chain of stores sellings
vitam... | Financial Reports |
CANADA WHEAT BOARD ADVISES CUT IN GRAIN PRICES
| The Canadian Wheat Board has advised
the federal government to sharply cut initial prices paid to
farmers for their wheat, oats, and barley in the crop year
beginning August 1, a board spokesman said.
The spokesman declined to give the size of the recommended
price drops but said it would not be good ne... | Financial Reports |
GATT COUNCIL DEFERS DECISION ON SEMICONDUCTORS
| The ruling GATT Council deferred a
decision on whether to set up a dispute panel on the basis of a
European Community complaint against the U.S.- Japanese
agreement on exports of computer semiconductors.
David Woods, spokesman of the General Agreement on Tariffs
and Trade (GATT), told a news briefing th... | Financial Reports |
FIRST SOUTHERN <FSFA> TO MAKE ACQUISITION
| First Southern Federal Savings and
Loan Association said it has agreed in principle to acquire
Horizon Financial Corp and Horizon Funding corp from <Victor
Federal Savings and Loan Association> of Muskogee, Okla., for
undisclosed terms.
The company said the purchase is subject to approval of the
bo... | Commodities and Trade |
DANAHER CORP <DHR> 4TH QTR NET
| Shr 71 cts vs 43 cts
Net 7,274,000 vs 4,447,000
Rev 161.6 mln vs 77.6 mln
Year
Shr 1.51 dlrs vs 1.32 dlrs
Net 15,401,000 vs 13,525,000
Rev 454.0 mln vs 304.9 mln
| Financial Reports |
FIRM AGREES TO MERGE WITH LOTOQUIK INT'L
| <Chatsworth Enterprises
Inc>, a publicly held shell corporation, said it signed a
letter of intent to merger with <Lotoquik International Ltd>, a
Nassau, Bahamas-based maker of video lottery machines.
Under terms of the merger agreement, Chatsworth said
Lotoquik shareholders would own a majority o... | Corporate News |
ASBESTEC TO BUY CONTRACTOR, RECEIVES CONTRACT
| <Asbestec Industries Inc> said
it signed a letter of intent to buy asbestos abatement
contractor <P.W. Stephens> for three mln dlrs in cash, stock
and notes.
The transaction is expected to be completed early in the
third quarter of its fiscal year ending September 30, 1987.
Asbestec also sai... | Financial Reports |
MARSHALL STEEL DETAILS GAIN FROM UNIT SALE
| (Marshall Steel Ltd), formerly Marshall
Drummond McCall Inc, said it will report a 17 mln dlr net gain
before taxes this year from the sale of its Drummond McCall
division, which was sold effective January one.
| Financial Reports |
GATT SETS UP DISPUTE PANEL ON CANADIAN HERRING
| The ruling GATT Council set up a formal
dispute panel to examine a U.S. Complaint that a Canadian law
prohibiting export of unprocessed herring and salmon was
discriminatory.
David Wood, official spokesman of the General Agreement on
Tariffs and Trade (GATT), told a news briefing the decision was
take... | Financial Reports |
COLOMBIAN INFLATION RISES 2.03 PCT IN FEBRUARY
| colombia's cost of living index rose 2.03
pct in february after a 3.27 pct increase in january and a 3.15
pct rise in february 1986, the government statistics institute
said.
The rise brought year-on-year inflation to 19.77 pct
compared with 23.72 pct at end-february 1986 and 21.66 pct for
the year en... | Commodities and Trade |
TALKING POINT/GENERAL MOTORS <GM>
| General Motors Corp staged an explosive
rally on Wall Street after a share buyback program announced
yesterday, but analysts said GM's future remains clouded by
stiff competition and erosion of market share.
GM shares rose 3-1/2 to 79-1/8 in active trading. Analysts
agreed that investors liked the repur... | Financial Reports |
PARTNERSHIP CUTS STAKE IN ERC INTERNATIONAL<ERC>
| Parsow Partnership Ltd, a Nevada
investment partnership, said it lowered its stake in ERC
International Inc to 343,500 shares or 8.3 pct of the total
outstanding common stock, from 386,300 shares, or 9.3 pct.
In a filing with the Securities and Exchange Commission,
Parsow said it sold 42,800 ERC common ... | Financial Reports |
IRANIAN OIL MINISTER DUE IN ALGERIA ON FRIDAY
| Iranian Oil Minister Gholamreza Aqazadeh
is expected here on Friday for talks with his Algerian
counterpart Belkacem Nabi, the official Algerian news agency
APS said today.
Aqazadeh, who will be accompanied by a large delegation,
will have talks on bilateral relations in the field of energy
and exchan... | Financial Reports |
<GOLDOME FSB> YEAR NET
| Net 52.9 mln vs 21.9 mln
NOTE: Company is mutual savings bank.
| Financial Reports |
BEAR AUTOMOTIVE SERVICE <BEAR> 4TH QTR OPER NET
| Oper shr 18 cts vs 28 cts
Oper net 1,076,000 vs 1,441,000
Sales 22.6 mln vs 21.2 mln
Avg shrs 5,970,000 vs 5,080,000
Year
Oper shr 55 cts vs 49 cts
Oper net 3,007,000 vs 2,521,000
Sales 82.9 mln vs 73.7 mln
Avg shrs 5,429,000 vs 4,484,000
Note: Full company name i... | Financial Reports |
MAYFAIR INDUSTRIES INC <MAYF> 4TH QTR NET
| Oper shr 21 cts vs 18 cts
Oper net 659,000 vs 523,000
Revs 7,866,000 vs 5,503,000
Avg shrs 3,141,217 vs 2,925,294
12 mths
Oper shr 70 cts vs 46 cts
Oper net 2,075,000 vs 1,358,000
Revs 25.9 mln vs 19.3 mln
Avg shrs 2,980,247 vs 2,925,294
Note: Excludes tax gain of... | Financial Reports |
U.K. OIL INDUSTRY SAID NOT PERMANENTLY DAMAGED
| The U.K. Offshore oil industry has
suffered from last year's collapse in oil prices but should not
sustain any permament damage, Minister of State for Energy
Alick Buchanan-Smith said.
The drilling, diving and supply vessels sectors had been
most affected, Buchanan Snith told the House of Commons energy... | Commodities and Trade |
CHASE MANHATTAN STUDYING ITALIAN EXPANSION
| <Chase Manhattan Bank N.A.> is considering
expanding its operations in Italy, particularly in the consumer
banking sector, a Chase Manhattan official said.
Robert D. Hunter, Chase Manhattan area executive for
Europe, Africa and the Middle East, said at a news conference
that plans to broaden the bank... | Corporate News |
HRS <IHIRF> REDUCING STAKE IN HAL ROACH <HRSI>
| International H.R.S. Industries Inc said
it would reduce its stake in Hal Roach Studios Inc to 22 pct
from 52 pct in return for 6.3 mln U.S. dlrs from Qintex Inc's
Qintex America (Media) Ltd unit.
H.R.S. said that under the deal's first stage, closng March
22, it would sell Qintex 900,000 Hal Roach shar... | Commodities and Trade |
TOTAL STILL EXPECTS 1.5 BILLION FRANC 1986 LOSS
| French oil group Total Cie Francaise des
Petroles <TPN.PA> is still expecting a 1.5 billion franc
consolidated net loss, including minority interests, for 1986,
after taking account of stock losses of 7.5 billion francs, the
company said in a communique after a board meeting here.
In late January gro... | Commodities and Trade |
STEEGO CORP <STG> 3RD QTR JAN 31 LOSS
| Oper shr loss 16 cts vs loss 10 cts
Oper net loss 1,569,000 vs loss 990,000
Sales 50.3 mln vs 50.1 mln
Nine mths
Oper shr loss nine cts vs loss two cts
Oper net loss 849,000 vs loss 199,000
Sales 159.9 mln vs 156.6 mln
NOTE: Current nine mths net includes 1,036,000 dlr pretax... | Financial Reports |
E-SYSTEMS INC <ESY> SETS QUARTERLY
| Qtly div 12-1/2 cts vs 12-1/2 cts prior
Pay April One
Record March 13
| Commodities and Trade |
RESOURCE EXPLORATION <REXI> IN DRILLING PACT
| Resource Exploration Inc said it has
agreed to let <Langasco Energy Corp> drill 50 oil and
natural gas wells on its Clinton Sandstone formation within its
Tuscarawas and Harrison County, Ohio area of operation.
Resource said it would receive a cash payment and an
overriding royalty interest on oil an... | Financial Reports |
TEXAS OIL REGULATOR CALLS FOR STATE TAX BREAKS
| Texas Railroad Commissioner James
Nugent, saying that the ailing oilpatch cannot wait for
Congress to act, today urged Texas state lawmakers to adopt
incentives to find new oil reserves and to exempt severance
taxes on oil produced from stripper wells.
Nugent said in a speech to the Texas house of
rep... | Commodities and Trade |
UNICORP AMERICAN CORP <UAC> SETS QUARTERLY
| Qtly div 15 cts vs 15 cts prior
Pay March 31
Record March 13
| Commodities and Trade |
COLOMBIA BLASTS U.S. FOR COFFEE TALKS FAILURE
| Colombian finance minister Cesar Gaviria
blamed an inflexible U.S. position for the failure of last
week's International Coffee Organisation, ICO, talks on export
quotas.
"We understand that the U.S. Position was more inflexible
than the one of Brazil, where current economic and political
factors make... | Financial Reports |
LIBERTY FINANCIAL GROUP <LFG> REGULAR DIVIDEND
| Qtly div 12.5 cts vs 12.5 cts in prior qtr
Payable March 13
Record February 27
| Financial Reports |
PACTEL <PAC> SEES EARNINGS GROWTH
| Pacific Telesis Group chairman Donald
Guinn told a meeting of security analysts that the company sees
continued earnings growth in 1987 above the 1.08 billion dlrs,
or 5.02 dlrs per share, earned in 1986.
Guinn also said that capital spending stood at about 1.8
billion dlrs in 1986, and the company expe... | Corporate News |
TRANS WORLD AIRLINES MAKES 52 DLR/SHARE CASH MERGER PROPOSAL FOR USAIR
|
TRANS WORLD AIRLINES MAKES 52 DLR/SHARE CASH MERGER PROPOSAL FOR USAIR
| Commodities and Trade |
UNICORP AMERICAN CORP <UAC> 4TH QTR NET
| Shr 13 cts vs 70 cts
Net 1,279,000 vs 7,979,000
Revs 16.4 mln vs 19.6 mln
Year
Shr 89 cts vs 2.43 dlrs
Net 10.3 mln vs 29.8 mln
Revs 56.2 mln vs 83.8 mln
Avg shrs 12.1 mln vs 13.1 mlnm
NOTE: 1986 year net includes gain 12.9 mln dlrs from sale
of eight real estate prop... | Market and Economy |
KENYA SIGNS PACT TO ESTABLISH OWN SHIPPING LINE
| Kenya has signed an agreement with
British and German interests to establish a shipping line that
will handle 40 pct of the country's external trade, sources
close to the deal said.
The state-owned Kenya Ports Authority, KPA, signed an
agreement with the Hamburg-based shipping line Unimar
Seetransport... | Commodities and Trade |
NEW BANK RULES TOUGHER THAN NEEDED, DEALERS SAY
| U.S. and U.K. bank regulators are asking
banks to set aside more reserves than is necessary to cushion
them against the risks posed by the interest rate and currency
swap transactions they carry, swap dealers said.
After viewing proposed guidelines released jointly today by
the Bank of England and the F... | Financial Reports |
SHAW'S SUPERMARKETS INC <SHAW> YEAR JAN 3
| Shr 1.23 dlrs vs 1.33 dlrs
Semi-annual div six cts vs six cts prior payment
Net 16.2 mln vs 14.8 mln
Sales 1.09 billion vs 909.4 mln
NOTE: Dividend is payable April one to holders of record
March nine
| Financial Reports |
DYNAMICS CORP <DYA> IN SETTLEMENT WITH CTS <CTS>
| Dynamics Corp of America said
it has reached an agreement with CTS Corp resolving all
differences between the two companies.
It said as a result of the settlement, CTS's special board
committee has stopped soliciting orders to purchase some or all
of CTS.
Dynamics, which now owns 27.5 pct of CTS' ... | Other |
RENEWAL OF U.S./USSR GRAIN PACT SAID UNCERTAIN
| Prospects for renewal of the
five-year U.S./USSR grains agreement are uncertain at this
point, a Soviet trade official told Reuters.
The current trade imbalance between the United States and
the Soviet Union, high U.S. commodity prices, and increased
world grain production make a renewal of the supply a... | Market and Economy |
DANAHER <DHR> EXPECTS EARNINGS INCREASE IN 1987
| Danaher Corp said it expects higher
earnings in 1987 versus 1986.
"We expect significant increases in earnings and revenues
in 1987," Steven Rales, Danaher chairman and chief executive
officer, said.
Earlier, the company reported 1986 net earnings of 15.4 mln
dlrs, or 1.51 dlrs a share, versus 13.... | Corporate News |
DANAHER CORP <DHR> 4TH QTR NET
| Shr 71 cts vs 43 cts
Net 7,274,000 vs 4,447,000
Rev 161.6 mln vs 77.6 mln
Year
Shr 1.51 dlrs vs 1.32 dlrs
Net 15,401,000 vs 13,525,000
Rev 454.0 mln vs 304.9 mln
NOTE: Fourth qtr net includes extraordinary gain of 3.8 mln
dlrs, or 37 cts per share, versus 2.9 mln dlrs, or 2... | Commodities and Trade |
TWA <TWA> MAKES MERGER OFFER FOR USAIR <U>
| Trans World Airlines said it has
proposed a cash merger of USAir Group with TWA in which the
holders of USAir common would receive 52 dlrs in cash in
exchange for their stock.
TWA said the offer was made in a letter to Edmin Colodny,
chairman and president of USAir.
TWA said, however, that if the ... | Corporate News |
CTS <CTS> AND DYNAMICS <DYA> REACH ACCORD
| CTS Corp and Dynamics Corp of
America reached an agreement resolving all outstanding
differences between them, according to a joint statment.
As a result of the settlement, a special committee of the
board of directors of CTS stopped soliciting offers to buy all
or part of the company, it said.
CT... | Financial Reports |
MEASUREX <MX> SELLS SOUTH AFRICAN UNIT
| Measurex Corp said it
completed the sale of its Measurex (South Africa Pty)
subsidiary to a group of employees who manage the operation.
Measurex, a maker of computer integrated manufacturing
systems, said the subsidiary represented less than one pct of
worldwide revenues and the sale will have no impac... | Financial Reports |
JEFFERIES MAKING MARKET IN USAIR <U>
| Jefferies and Co said it is making a
market in the stock of USAir Group Inc at 48-1/2 to 50.
USAir received an offer from Trans world airlines to buy
the airline at 52 dlrs cash per share.
USAir was halted on the New York Stock EXcahnge for
dissemination of the news. It was indicated at 47 to 54.
... | Financial Reports |
TRANS-LUX <TLX> SETS FIVE PCT STOCK DIVIDEND
| Trans-Lux Corp said its board
declared a five pct stock dividend payable April nine to
holders of record March 20.
The company said directors also declared regular quarterly
dividends on presently outstanding shares of both classes of
common, payable April nine to holders of record March 16.
It sa... | Other |
KANEB ENERGY PARTNERS LTD <KEP> 4TH QTR LOSS
| Shr loss one cent
Net loss 186,000
Revs 10.7 mln
11 mths
Shr loss 7.26 dlrs
Net loss 121.4 mln
Revs 46.9 mln
NOTE: In February 1986, Kaneb Services Inc contributed all
of its domestic oil and gas operations to Kaneb Partners, which
was newly formed, and exchanged approxim... | Financial Reports |
DALTON COMMUNICATIONS INC <DALT> 3RD QTR JAN 31
| Shr profit three cts vs loss two cts
net profit 157,500 vs loss 60,200
Revs 1.1 mln vs 1.0 mln
Nine months
Shr profit five cts vs profit six cts
Net profit 223,400 vs profit 260,800
Revs 3.2 mln vs 3.1 mln
| Financial Reports |
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