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CONFIDENCE IN OPEC FIRMS U.S. ENERGY FUTURES
| Renewed confidence in OPEC's ability to
limit production helped U.S. energy futures settle above
yesterday's closing prices, according to analysts.
They also said the heating oil contract found additional
support from a short-covering rally on the close.
April crude closed 24 cts higher to 17.75 dlr... | Financial Reports |
TREASURY SAYS ONLY REAGAN, BAKER SPEAK ON DLR
| The U.S. Treasury repeated a White
House statement that only President Reagan and Treasury
Secretary James Baker are authorized to speak on the dollar.
A Department spokesman was commenting on remarks by
Commerce Department Under-Secretary Robert Ortner that the yen
was undervalued 10 or 15 pct against ... | Market and Economy |
USDA COMMENTS ON EXPORT SALES
| Corn sales gained 2,494,900 tonnes in
the week ended February 26, the highest weekly total since
August 1984 and two and three-quarter times the prior week's
level, the U.S. Agriculture Department said.
In comments on its Export Sales Report, the department said
sales of 1.0 mln tonnes to the USSR -- pr... | Market and Economy |
FAIRFIELD COMMUNITIES INC <FCI> 10 MOS DEC 31
| Shr loss 1.62 dlrs vs profit 83 cts
Net loss 17.2 mln vs profit 8.3 mln
Revs 264.0 mln vs 338.0 mln
NOTE:Year ago figures based on 12 months ended February 28,
1986 because company changed reporting period to end December
31.
1986 10 months loss includes 10.3 mln dlrs writedown of
certain... | Other |
CARVER CORP <CAVR> 4TH QTR NET
| Shr 20 cts vs 17 cts
Net 680,000 vs 533,000
Sales 6,473,000 vs 5,996,000
Year
Shr 57 cts vs 84 cts
Net 1,967,000 vs 2,099,000
Sales 20.8 mln vs 19.0 mln
| Commodities and Trade |
QATAR UNVEILS BUDGET FOR FISCAL 1987/88
| The Gulf oil state of Qatar, recovering
slightly from last year's decline in world oil prices,
announced its first budget since early 1985 and projected a
deficit of 5.472 billion riyals.
The deficit compared with a shortfall of 7.3 billion riyals
in the last published budget for 1985/86.
In a sta... | Other |
INTER-CITY GAS CORP 4TH QTR SHR 36 CTS VS 68 CTS
|
INTER-CITY GAS CORP 4TH QTR SHR 36 CTS VS 68 CTS
| Financial Reports |
UNICORP <UAC>, LINCOLN IN DEFINITVE PACT
| Unicorp American Corp said it signed a
definitive agreement to acquire Lincoln Savings Bank FSB.
Under terms of the agreement announced in January, Lincoln
would be acquired by a unit of Unicorp which is minority-owned
by Lincoln president Alton Marshall.
The acquisition will take place through a vo... | Commodities and Trade |
U.S. M-1 MONEY SUPPLY RISES 1.9 BILLION DLRS IN FEB 23 WEEK, FED SAYS
|
U.S. M-1 MONEY SUPPLY RISES 1.9 BILLION DLRS IN FEB 23 WEEK, FED SAYS
| Other |
U.S. BANK DISCOUNT BORROWINGS AVERAGE 233 MLN DLRS A DAY IN MARCH 4 WEEK, FED SAYS
|
U.S. BANK DISCOUNT BORROWINGS AVERAGE 233 MLN DLRS A DAY IN MARCH 4 WEEK, FED SAYS
| Financial Reports |
COFFEE FALL NOT SEEN AFFECTING COLOMBIA'S DEBT
| The sharp fall in international coffee
prices will not affect Colombia's external credit situation,
finance minister Cesar Gaviria told reuters.
He said the current depression on world coffee markets was
not totally unexpected and would have no immediate bearing on
Colombia's financial state which he de... | Commodities and Trade |
U.S. M-1 MONEY SUPPLY RISES 1.9 BILLION DLRS
| U.S. M-1 money supply rose 1.9 billion
dlrs to a seasonally adjusted 738.5 billion dlrs in the
February 23 week, the Federal Reserve said.
The previous week's M-1 level was revised to 736.6 billion
dlrs from 736.7 billion dlrs, while the four-week moving
average of M-1 rose to 736.7 billion dlrs from 73... | Commodities and Trade |
GULF BOND, STOCK MARKETS LAG BEHIND, GIB SAYS
| Gulf money markets have grown reasonably
well during the past decade, but bond and stock markets remain
to a large extent fragmented and lag behind, <Gulf
International Bank BSC> (GIB) said.
The bank's economist Henry Azzam said in a review of Gulf
capital markets that investors have to relinquish tr... | Corporate News |
HUMANA <HUM> DECLARES SHAREHOLDERS RIGHTS PLAN
| Humana Inc said its board
approved a shareholder rights plan, or so-called poison pill
plan, to ensure its shareholders receive fair treatment in the
event of a proposed takeover.
Humana said it is now aware of any effort to gain control
of the company.
Under the plan its board declared a dividend... | Commodities and Trade |
FREMONT GENERAL CORP <FRMI> 4TH QTR OPER NET
| Oper shr profit 63 cts vs loss 1.15 dlrs
Oper net profit 6,629,000 vs loss 12.4 mln
Revs 23.6 mln vs 22.4 mln
Year
Oper shr profit 1.65 dlrs vs loss 1.28 dlrs
Oper net profit 17.5 mln vs loss 13.8 mln
Revs 93.1 mln vs 86.8 mln
Note: Oper data does not include loss from discon... | Corporate News |
GREAT WESTERN FINANCIAL <GWF> UNIT BUYS BANKS
| Great Western Financial
Corp's subsidiary Great Western Bank said it will purchase
three retail banking branches in south Florida with total
deposits of 90 mln dlrs.
Great Western said it will purchase branches in Deerfield
Beach and Hollywood with approximately 80 mln dlrs in deposits
from Guardian S... | Corporate News |
HUGHES <HT> CHANGES STANCE ON MERGER AFTER SUIT
| A one billion dlr lawsuit pushed
Hughes Tool Co into an about-face on its rejection of a
proposed merger with Baker International Corp <BKO>, Wall
Street analysts said.
Last night, Hughes said the planned merger with Baker was
off. Baker then filed a suit seeking punitive damages from
Hughes for ca... | Commodities and Trade |
ARMTEK <ARM> SELLS TIRE, TRUCK TIRE BUSINESS
| Armtek Corp, formerly known as
Armstrong Rubber Co, said it signed agreements with <Condere
Corp> for the sale of its Natchez, Miss. tire plant and its S
and A Truck Tire Sales and Services Corp.
Terms were not disclosed. Armtek spokesman John Sievers
said S and A is a 50 mln dlr business.
Earl... | Market and Economy |
ELXSI LTD <ELXSF> 4TH QTR LOSS
| Shr loss four cts vs loss 34 cts
Net loss 2,922,000 vs loss 19.9 mln
Revs 4,071,000 vs 8,012,000
Year
Shr loss 23 cts vs loss 79 cts
Net loss 17.3 mln vs loss 46.2 mln
Revs 22.4 mln vs 28.6 mln
| Financial Reports |
<NEWSCOPE RESOURCES LTD> YEAR LOSS
| Shr loss 94 cts vs profit 28 cts
Net loss 6,319,337 vs profit 1,702,016
Revs 2,899,513 vs 5,239,106
Note: 1986 net includes 5,250,000 dlr writedown of oil and
gas properties.
| Corporate News |
SAUDI ARABIA REITERATES COMMITMENT TO OPEC PACT
| Saudi Arabian Oil Minister Hisham Nazer
reiterated the kingdom's commitment to last December's OPEC
accord to boost world oil prices and stabilise the market, the
official Saudi Press Agency SPA said.
Asked by the agency about the recent fall in free market
oil prices, Nazer said Saudi Arabia "is fully ... | Market and Economy |
FERC ISSUES TAKE-OR-PAY GAS POLICY PLAN
| The Federal Energy Regulatory
Commission (FERC) issued a proposed policy statement for the
recovery of take-or-pay costs imposed by existing natural gas
contracts between producers and pipelines.
It put out the statement, by 5-0 vote, for a 30-day comment
period. It also put out an alternative policy s... | Corporate News |
TIMES MIRROR CO <TMC> QUARTERLY DIVIDEND
| Qtly div 41 cts vs 41 cts
Pay June 10
Record May 29
| Corporate News |
INTER-CITY GAS CORP <ICG> 4TH QTR NET
| Shr 36 cts vs 68 cts
Net 10.0 mln vs 16.1 mln
Revs 441.6 mln vs 470.8 mln
YEAR
Shr 86 cts vs 1.77 dlrs
Net 29.1 mln vs 44.1 mln
Revs 1.43 billion vs 1.54 billion
Note: 1986 fl-yr net includes 9.3 mln dlr writedown of U.S.
oil and gas properties partly offset by 1.1 mln dlr
... | Commodities and Trade |
BROWN TRANSPORT CO INC <BTCI> 4TH QTR NET
| Shr profit 26 cts vs profit 10 cts
Net profit 1,371,000 vs profit 482,000
Revs 48 mln vs 45.7 mln
Avg shrs 5.20 mln vs 5.15 mln
12 mths
Shr profit 1.05 dlrs vs loss 34 cts
Net profit 5,454,000 vs loss 1,766,000
Revs 191.7 mln vs 185.2 mln
Avg shrs 5.20 mln vs 5.15 mln
... | Financial Reports |
METRO MOBILE CTS INC <MMCT> FIRST QTR LOSS
| Qtr ends Dec 31
Shr loss 33 cts vs loss 16 cts
Net loss 5,632,426 vs loss 2,373,358
Revs 3,277,976 vs 1,535,550
Avg shrs 16.9 mln vs 14.4 mln
| Corporate News |
COFFEE QUOTA TALKS CONTINUE, NO ACCORD SEEN LIKELY
| The International Coffee Organization
(ICO ) council talks on reintroducing export quotas continued
with an extended session lasting late into Sunday night, but
delegates said prospects for an accord between producers and
consumers were diminishing by the minute.
The special meeting, called to stop the ... | Market and Economy |
<SPAR AEROSPACE LTD> YEAR NET
| Shr basic 42 cts vs 1.41 dlrs
Shr diluted 42 cts vs 1.33 dlrs
Net 4,394,000 vs 13,070,000
Revs 191.0 mln vs 223.3 mln
| Corporate News |
PESCH UNIT SEEKS BALANCE OF REPUBLIC HEALTH
| Alpha Health Systems Corp, a
wholly-owned subsidiary of Pesch and Co, said it submitted a
merger proposal to the board of REPH Acquisition Co, the parent
company of Republic Health Corp, which is 64 pct owned by Pesch
interests.
The balance of REPH's common stock is owned by members of
Republic manage... | Corporate News |
SPAR SEES SEES STRONG FIVE-YEAR GROWTH
| <Spar Aerospace Ltd>, reporting a
sharply lower 1986 profit, said it anticipated solid profit and
revenue growth during the next five years.
"Looking to the longer term, Spar is confident that its
continuing concentration on advanced robotics, satellite-based
communications and electro-optical defens... | Market and Economy |
CHESAPEAKE UTILITIES CORP <CHPK> REGULAR DIV
| Qtly div 28-3/4 cts vs 28-3/4 cts prior
Pay April three
Record March 13
| Corporate News |
MEATPACKERS REJECT OCCIDENTAL <OXY> UNIT OFFER
| United Food and Commercial Workers Union
Local 222 rejected a new contract proposal from Iowa Beef
Processors Inc and remain out of work, union spokesman Allen
Zack said.
In mid-December, Iowa Beef, a subsidiary of Occidental
Petroleum Corp, closed its beef processing plant at Dakota
City, Nebraska, b... | Corporate News |
SWIFT INDEPENDENT PACKING CO <SFTPr> 1ST QTR NET
| Periods ended January 31
Net 1,443,000 vs 3,539,000
Revs 765.2 mln vs 685.8 mln
| Other |
CHEMLAWN SAYS IT REJECTS 27 DLRS PER SHARE TENDER OFFER FROM WASTE MANAGEMENT
|
CHEMLAWN SAYS IT REJECTS 27 DLRS PER SHARE TENDER OFFER FROM WASTE MANAGEMENT
| Corporate News |
FRANCE, YUGOSLAVIA COMMISSION TO BOOST TRADE
| France and Yugoslavia agreed to set up a
joint economic commission as part of efforts to promote
commercial links and industrial cooperation between the two
countries.
The French Finance Ministry said the commission, to be
composed of businessmen, was agreed during talks between
Foreign Trade Minister... | Financial Reports |
CHEMLAWN <CHEM> REJECTS WASTE'S <WMX> OFFER
| ChemLawn Corp said its board
rejected Waste Management Inc's 27 dlr-per-share tender offer
and urged its shareholders not to tender their shares.
ChemLawn said its board asked management and its financial
advisor, Smith Barney, Harris Upham And Co Inc, to seek other
purchasers of the company to maximize... | Financial Reports |
(CAMBIOR INC) FIVE MTHS DEC 31 NET
| Shr 39 cts vs not given
Net 8,801,000 vs not given
Revs 33.2 mln vs not given
| Financial Reports |
CONAGRA <CAG> TO ACQUIRE MONFORT <MMFT>
| ConAgra Inc agreed to acquire
Monfort of Colorado Inc in a stock transaction, both companies
said.
According to the letter of intent signed by the companies,
ConAgra will acquire all of Monfort's 4.3 mln outstanding
shares for 10.75 mln of its own shares.
Based on ConAgra's closing price of 34 dlr... | Corporate News |
HOUSE 0/92 PLAN SEEN SCALED-BACK TO 1987 WHEAT
| Key members of the House Agriculture
committee have agreed to scale-back the 0/92 provision of a
pending disaster aid bill to cover only 1987 crop wheat, but a
broader 0/92 proposal is likely to be resurrected later,
Congressional sources said.
The sources said key lawmakers including Reps. Glenn
Engl... | Financial Reports |
FAVORED TRADE STATUS FOR MOSCOW STILL OPPOSED
| The Reagan administration wants to
encourage expanded trade with the Soviet Union but does not
believe Moscow yet warrants most-favored-nation treatment,
Deputy Secretary of State John Whitehead said.
"It seems to me that more trade between us is better than
less trade," he told a forum on U.S.-Soviet t... | Corporate News |
MCDONNELL DOUGLAS <MD> NOT APPROACHED BY PESCH
| McDonnell Douglas Corp, which has a five
mln dlr investment in Republic Health Corp <REPH>, said it has
not been approached to sell its shares in Republic Health.
Earlier, Alpha Health Systems Corp, a unit of Pesch and Co,
said it submitted a merger proposal to the board of REPH
Acquisition Co, the p... | Corporate News |
PARADYNE <PDN> PLEADS GUILTY TO CRIMINAL CHARGE
| Paradyne Corp said it pleaded guilty
to criminal charges of conspiracy to defraud the Social
Security Administration and agreed to pay 1.2 mln dlrs in fines
and costs to the U.S. Government.
The company also reached agreements in principle for an 8.1
mln dlr settlement of class action law suits.
A... | Financial Reports |
SOUTH AFRICAN FIRM TO CONTINUE TESTS
| South Africa's state-owned energy
firm Soekor said it would continue tests after striking oil
some 120 kms (75 miles) south-southwest of Mossel Bay.
During production tests, about 5,000 barrels of oil and
five mln cubic feet of gas per day were produced, it said.
"This oil discovery will be followed... | Corporate News |
GREECE REPEATS IT CAN DECIDE ON AEGEAN DRILLING
| Greece, replying to a warning from Turkey
that it will stop Athens from seeking oil in the Aegean Sea,
repeated today that it has an exclusive right to decide where
or when to drill in the area.
A government spokesman said in a statement that if Ankara
believed Greece was contravening international law,... | Financial Reports |
NCA CORP <NCAC> 4TH QTR LOSS
| Shr loss 45 cts vs loss 1.34 dlrs
Net loss 1,240,000 vs loss 3,621,000
Revs 6,264,000 vs 4,626,000
Year
Shr loss 90 cts vs loss 2.01 dlrs
Net loss 2,487,000 vs loss 5,406,000
Revs 20.8 mln vs 21.7 mln
| Financial Reports |
BIOMEDICAL DYNAMICS CORP <BMDC> 4TH QTR NET
| Shr profit one ct vs loss two cts
Net profit 52,405 vs loss 67,967
Sales 289,572 vs 188,713
Year
Shr loss one cts vs loss five cts
Net loss 51,019 vs loss 201,680
Sales 1.1 mln vs 490,935
| Financial Reports |
SANTA FE SOUTHERN PACIFIC APPEALS MERGER RULING
| Santa Fe Southern Pacific Corp will
later today formally ask the U.S. Interstate Commerce
Commission (ICC) to reconsider its earlier rejection of the
merger of the holding company's railroad assets, a company
spokesman said.
"We expect to file papers late tonight" asking the ICC to
reopen the rail mer... | Other |
BRAZIL DEBT SEEN PARTNER TO HARD SELL TACTICS
| Brazil's recent announcement of a
suspension in interest payments on 68 billion dlrs of foreign
debt gave the banking system the jitters and confirmed views
among many international economists and commodities analysts
that Brazil will continue to flex its trading muscles in 1987.
The developing world's ... | Financial Reports |
IEA SAYS OPEC FEBRUARY CRUDE OUTPUT 16.1 MLN BPD
| OPEC produced an average 16.1 mln barrels
per day (bpd) of crude oil in February, down from 16.5 mln the
previous month and an overall 17.3 mln bpd in fourth quarter
1986, the International Energy Agency said.
A few OPEC countries last month exceeded the production
quotas set at their last conference in... | Financial Reports |
U.S. SENATE GROUP URGES SUBSIDIES FOR USSR
| A majority of the Senate Agriculture
Committee urged President Reagan to reverse his opposition to
export subsidies to the Soviet Union as a way to get its
negotiators to purchase some 500 mln dlrs in American wheat.
The group, led by committee chairman Patrick Leahy, a
Vermont Democrat, urged Reagan to... | Other |
ENFIELD CORP PLANS NOTES, PREFERRED ISSUE
| <Enfield Corp Ltd> said it planned to
issue 60 mln dlrs principal amount of notes and 1.6 mln class E
preferred shares at 25 dlrs a share.
The notes would bear 8 pct yearly interest, mature March
31, 2002 and be convertible to common shares on either March
31, 1997 or the business day before a fixed ... | Corporate News |
WICHITA <WRO> TO BUY FOUNTAIN OIL <FGAS>
| Wichita Industries Inc said it
agreed to buy Fountain Oil and Gas Inc.
Wichita said it it will acquire all of the outstanding
shares of Fountain in an exchange for about 11 mln newly issued
Wichita common shares. Wichita presently has about 3.6 mln
shares outstanding.
The transaction calls for the... | Financial Reports |
ARGENTINE INFLATION ROSE 6.5 PCT IN FEBRUARY
| Argentina's cost of living index
grew 6.5 pct in January, down from last month's 7.6 pct, the
National Statistics Institute said.
It said consumer prices rose 98.9 pct over the last 12
months, against 81.9 pct inflation in the calendar year 1986.
| Commodities and Trade |
CANADA-EGYPT WHEAT NEGOTIATIONS TO CONTINUE
| Canadian and Egyptian wheat negotiators
failed to conclude an agreement on Canadian wheat exports to
Egypt during talks last week, but the Canadian team will return
to Cairo for further negotiations, Canadian embassy officials
said.
An embassy official declined to identify which issues
remained to be ... | Financial Reports |
PEMEX LOWERS FEBRUARY FAR EAST CRUDE OIL PRICES
| The Mexican state oil company
Petroleos Mexicanos (PEMEX) said its Far East customers would
be charged 17.25 dlrs per barrel for Isthmus crude in February
and 14.45 dlrs for the heavier Maya.
Pemex said this was 32 cts less than January Isthmus and 15
cts less than January Maya.
Far East customers... | Financial Reports |
N.Z. DECEMBER QUARTER RETAIL SALES FALL 13.2 PCT
| Retail sales in the quarter ended
December 31 fell a seasonally adjusted 13.2 pct compared with a
7.8 pct rise in the September quarter and a 1.3 pct fall a year
ago period, the Statistics Department said.
Actual retail sales in the December quarter totalled 6.17
billion N.Z. Dlrs compared with 6.70 bil... | Financial Reports |
REPH ACQUISITION TO NEGOTIATE PESCH MERGER BID
| REPH Acquisition Co said its board
appointed a special committee to negotiate the terms of an
offer made earlier today by <Pesch and Co> to merge with its
Republic Health Corp <REPH> unit.
Pesch, through its Alpha Health Systems Corp unit, offered
to acquire the 36 pct of Republic Health stock tha... | Corporate News |
HUNT GROUP HAS COMDATA STAKE, SEEKS INFLUENCE
| An investor group led by members of
the Hunt family of Dallas, Texas, told the Securities and
Exchange Commission it has acquired a 6.2 pct stake in Comdata
Network Inc <CDN> and may try to influence company policy.
The investor group, led by Rosewood Financial Inc, said it
opposes a company recapita... | Industrial and Sector News |
ARGENTINA-BRAZIL TRADE JUMPED 90 PCT IN 1986
| Trade between Argentina and Brazil
jumped 90 pct in 1986 versus 1985, Foreign Minister Dante
Caputo said.
Speaking to reporters, Caputo said the near doubling in
trade showed the "tangible and immediate results" of a wide-
ranging economic integration accord signed by the presidents of
both countries ... | Corporate News |
SANTA FE SOUTHERN PACIFIC APPEALS MERGER RULING
| Santa Fe Southern Pacific Corp will
later today formally ask the U.S. Interstate Commerce
Commission (ICC) to reconsider its earlier rejection of the
merger of the holding company's railroad assets, a company
spokesman said.
"We expect to file papers late tonight" asking the ICC to
reopen the rail mer... | Corporate News |
E.A. VINER HOLDINGS LTD <EAVKF> 4TH QTR LOSS
| Shr loss 10 cts vs profit seven cts
Net loss 918,000 vs profit 585,000
Revs 5,475,000 vs 4,430,000
YEAR
Shr profit 32 cts vs loss 24 cts
Net profit 2,909,000 vs loss 1,501,000
Revs 23.7 mln vs 15.0 mln
Note: 1986 4th qtr net includes 1.5 mln U.S. dlr, or 17 ct
shr, writedow... | Other |
INDONESIAN WHEAT IMPORTS EXPECTED TO FALL IN 1987
| Indonesia's wheat imports are expected
to fall to 1.5 mln tonnes in calendar 1987 from 1.69 mln in
1986, the U.S. Embassy's annual agriculture report said.
It said the drop was expected, because there will be a
drawdown on stocks built up near the end of 1986.
It said wheat stocks at the end of 1986... | Commodities and Trade |
CARPET FIRM UNIT CUTS ALLIED PRODUCTS<ADP> STAKE
| A group led by GFI Nevada Inc, a
subsidiary of General Felt Industries, a Saddlebrook, N.J.
carpet maker, said it cut its stake in Allied Products Corp to
169,888 shares, or 3.4 pct, from 288,652 shares, or 5.8 pct.
In a filing with the Securities and Exchange Commission,
GFI said it sold 114,000 Allied... | Corporate News |
TALKS FAIL TO END BRAZILIAN SEAMEN'S STRIKE
| Pay talks aimed at ending a
week-old national seamen's strike collapsed today and the
strike will continue, a union official said.
The walkout by Brazil's 40,000 seamen has idled 160 ships
in various ports, Jorge Luis Leao Franco, a senior official of
the National Merchant Marine Union, told Reuters.
... | Corporate News |
SHEARSON HAS 5.4 PCT OF CHICAGO MILWAUKEE <CHG>
| Shearson Lehman Brothers Inc, the
brokerage subsidiary of American Express Co <AXP>, said it has
acquired 131,300 shares of Chicago Milwaukee Corp, or 5.4 pct
of its total outstanding common stock.
In a filing with the Securities and Exchange Commission,
Shearson said it bought the stake for 18.8 mln... | Corporate News |
VINER <EAVKF> VIABLE AFTER HECK'S <HEX> MOVE
| E.A. Viner Holdings Ltd said the earlier
reported Chapter 11 bankruptcy filing of Heck's Inc <HEX>, in
which Viner holds 408,000 shares, would not materially affect
Viner's capital position or its ability to carry on its
profitable brokerage business.
Viner said its brokerage subsidiary, Edward A. Vi... | Financial Reports |
TWA <TWA> SUES USAIR <U> OVER POISON PILL
| Trans World Airlines Inc said it filed
suit in Delaware Chancery Court against USAir Group Inc and its
board of directors seeking to invalidate its "poison pill"
anti-takeover plan.
TWA vice president and general counsel Mark Buckstein said
TWA also sought a declaratory judgement from the court that its... | Corporate News |
<FOUR SEASONS HOTELS INC> YEAR NET
| Oper shr 99 cts vs 54 cts
Oper net 9,515,000 vs 3,449,000
Revs 509.3 mln vs 440.5 mln
Note: 1985 net excludes extraordinary gain of 1.2 mln dlrs.
| Financial Reports |
<IVEY PROPERTIES INC> RAISES QUARTERLY DIVIDEND
| Ivey Properties Inc said it
raised its quarterly dividend to 18 cts a share from 14 cts and
declared both an extra dividend of 27 cts a share and a 50 pct
stock dividend.
It said the dividends will be paid April one to
shareholders of record March 16.
For the stock dividend, Ivey said it will pay... | Corporate News |
MEXICO SUSPENDS OVERSEAS COFFEE SALES
| Mexico has temporarily suspended
overseas coffee sales due to falling prices triggered by the
failure of the International Coffee Organisation (ICO) meeting
to agree a quota system at its latest meeting, the official
Notimex news agency said.
"We're just waiting a while for prices to improve," an
unid... | Financial Reports |
GROUP BOOSTS SCANDINAVIA FUND <SCF> STAKE
| A shareholder group led by a Swedish
investment firm and a Norwegian investor said it raised its
stake in the Scandinavia Fund Inc to 2,165,300 shares, or 33.3
pct of the total, from 1,978,900 shares, or 30.5 pct.
In a filing with the Securities and Exchange Commission,
the group, which includes Ingemar... | Financial Reports |
OFFSHORE INVESTMENT FIRM UPS FRANCE FUND STAKE
| VBI Corp, an offshore-based
investment firm, told the Securities and Exchange Commission it
raised its stake in the France Fund Inc <FRN> to 681,800
shares, or 9.1 pct of the total, from 551,000, or 7.4 pct.
VBI, which is based in Turks and Caicos Islands, the
British West Indies, said it bought the ... | Corporate News |
COSTA RICA OPTIMISTIC ABOUT REFORMING ICO
| Costa Rica's economy minister said he
sees new hope for winning changes in the International Coffee
Organisation system of export quotas.
Minister Luis Diego Escalante, who serves as president of
the Costa Rican Coffee Institute, said he was hopeful because
of the support offered Costa Rica and other sm... | Corporate News |
U.S. MONEY GROWTH SLOWS SHARPLY, ECONOMISTS SAY
| U.S. money supply growth is slowing
down rapidly, and some economists believe that all three of the
Federal Reserve's main monetary aggregates may even have
contracted in February.
A contraction is unlikely to be a major concern for the
Fed, especially as it would follow a long period of torrid
growth... | Financial Reports |
ECUADOR'S CONSUMER PRICES RISE 2.5 PCT IN FEBRUARY
| Ecuador's consumer price index rose 2.5
pct in February to 562.4 (base 1978), the National Statistics
and Census Institute said.
The rise compared to a 1.8 pct rise in January and a 2.5
pct rise in February 1986.
The Institute said accumulated overall inflation for the
first two months of this yea... | Corporate News |
WEST GERMAN FISHMEAL IMPORTS HIGHEST IN 15 YEARS
| West German gross fishmeal imports rose
60,260 tonnes, or 14.6 pct, last year to 471,891 tonnes, the
highest level since 1972, trade sources said.
Re-exports fell by 6.6 pct, resulting in a surge in net
imports from 175,901 to 251,708 tonnes, an increase of 43 pct.
Total West German consumption was ... | Financial Reports |
TPA OF AMERICA INC <TPS> 4TH QTR LOSS
| Shr loss five cts
Net loss 753,000
Revs 8,932,000
Avg shrs 16.0 mln
Year
Shr loss seven cts
Net loss 995,000
Revs 27.9 mln
Avg shrs 14.8 mln
NOTE: Company started operating in August 1985.
Results reflect change in fiscal year from November 30 end.
| Financial Reports |
SILVER STATE MINING <SSMC> SEES PRODUCTION RISE
| Silver State Mining Corp said it expects
gold production this year to be more than double 1986's 17,458
ounces.
The company's 1985 production was 2,050 ounces.
| Financial Reports |
ZAMBIA TO RETAIN CURRENCY AUCTION, SAYS KAUNDA
| Zambia will retain its foreign-exchange
auction system despite the suspension of weekly auctions since
January 24, President Kenneth Kaunda said.
"We have not run away from the auction. It hasn't been
abolished at all," he told Reuters in an interview.
He said the system would be reintroduced after ... | Corporate News |
MCGRATH RENTCORP <MGRC> SEES NET RISING
| McGrath RentCorp said as a
result of its December acquisition of Space Co, it expects
earnings per share in 1987 of 1.15 to 1.30 dlrs per share, up
from 70 cts in 1986.
The company said pretax net should rise to nine to 10 mln
dlrs from six mln dlrs in 1986 and rental operation revenues to
19 to 22 ml... | Financial Reports |
SILVER STATE MINING CORP <SSMC> 4TH QTR NET
| Shr one ct vs one ct
Net 528,790 vs 286,969
Revs 2,537,803 vs 773,729
Year
Shr seven cts vs one ct
Net 2,429,576 vs 404,394
Revs 6,726,327 vs 1,150,961
| Financial Reports |
SIZZLER RESTAURANTS INTERNATIONAL INC <SIZZ> NET
| Shr 15 cts vs 14 cts
Net 2,547,000 vs 2,242,000
Revs 56.7 mln vs 44.0 mln
Avg shrs 17.6 mln vs 15.6 mln
Nine mths
Shr 54 cts vs 54 cts
Net 9,249,000 vs 8,334,000
Revs 173.3 mln vs 134.3 mln
Avg shrs 17.1 mln vs 15.5 mln
| Corporate News |
MCANDREWS AND FORBES ARE OFFERING 18.50 DLRS PER SHARE FOR REVLON STOCK
|
MCANDREWS AND FORBES ARE OFFERING 18.50 DLRS PER SHARE FOR REVLON STOCK
| Corporate News |
U.K. MONEY MARKET DEFICIT REVISED TO 550 MLN STG
| The Bank of England said it had revised
its estimate of the shortage in the money market back to its
initial forecast of 550 mln stg.
At midsession the central bank changed the shortfall to 500
mln and provided assistance worth 96 mln stg through bank bill
purchases in bands one and two at established d... | Commodities and Trade |
DONEGAL GROUP INC <DGIC> YEAR NET
| Shr six cts
Net 155,764
Revs 6,506,792
NOTE: Company formed in August 1986.
| Financial Reports |
PETER MILLER APPAREL GROUP 3RD QTR JAN 31 LOSS
| Shr loss 28 cts vs profit seven cts
Net loss 931,000 vs profit 7,000
Revs 2.3 mln vs 2.0 mln
Nine mths
Shr loss 55 cts vs profit seven cts
Net loss 1,619,000 vs profit 185,000
Revs 7.7 mln vs 7.1 mln
NOTE: Shr figures adjusted for issue of 600,000 shares in
October, 1986. A... | Financial Reports |
KRELITZ INDUSTRIES INC <KRLZ> 3RD QTR NET
| Period ended Jan 31
Shr seven cts vs 14 cts
Net 136,000 vs 274,000
Sales 48.4 mln vs 38.2 mln
Nine mths
Shr 30 cts vs 17 cts
Net 573,000 vs 328,000
Sales 140.0 mln vs 102.4 mln
NOTE: Prior year period ended Sept 30
Comparable periods reflect change in fisca... | Market and Economy |
DONEGAL <DGIC> PROJECTS FULL YEAR RESULTS
| Donegal Group Inc, which today
reported earnings of 155,764 dlrs on revenues of 6,506,792 dlrs
for the period from August 26 startup through the end of 1986,
said it expects "much improved" profits for the full year 1987
on revenues of about 32 mln dlrs.
| Corporate News |
MACANDREWS AND FORBES HOLDINGS BIDS FOR REVLON
| McAndrews and Forbes Holdings Inc said
it will offer 18.50 dlrs per share for all of Revlon Group
Inc's <REV> outstanding common stock.
McAndrews said terms of the acquisition have not been
determined and are subject to the acquisition of financing.
Revlon closed yesterday on the New York Stock E... | Other |
HOG AND CATTLE SLAUGHTER GUESSTIMATES
| Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 300,000 to 305,000 head versus
292,000 week ago and 316,000 a year ago.
Saturday's hog slaughter is guesstimated at about 30,000 to
55,000 head.
Cattle slaughter is guess... | Market and Economy |
BOREALIS IN GOLD EXPLORATION PACT WITH FARAWAY
| <Borealis Exploration Ltd> said
it entered into an agreement with <Faraway Gold Mines Ltd> of
Vancouver, British Columbia, under which Faraway will acquire
an interest in Borealis's Whale Cove Gold Property in the
Keewatin district of the Northwest Territories.
Faraway will spend 1.5 mln dlrs on e... | Financial Reports |
U.K. MONEY MARKET GETS 350 MLN STG AFTERNOON HELP
| The Bank of England said it provided
assistance worth 350 mln stg during the afternoon session which
takes total help so far today to 446 mln stg against a shortage
estimated at around 550 mln stg.
The central bank purchased outright bank bills comprising
120 mln stg in band one at 10-7/8 pct and 227 ml... | Other |
IMRE <IMRE> SELLS STOCK TO EUROPEAN INSTITUTIONS
| IMRE Corp said it has received
commitments for a group of European institutions to buy about
400,000 IMRE shares for 2,500,000 dlrs, with closing expected
on March 16.
| Corporate News |
INSTRUMENTARIUM ACQUIRES NOKIA SUBSIDIARY
| Finland's medical group Instrumentarium
Oy <INMR.HE> said it has acquired electronics components
importers and marketers <Ferrado Oy> and <Insele Oy>,
subsidiaries of Finland's electronics group Nokia Oy <NOKS.HE>.
It said in a statement Ferrado and Insele will be merged
into Instrumentarium... | Commodities and Trade |
FUQUA INDUSTRIES INC <FQA> SETS QUARTERLY
| Qtly div six cts vs six cts prior
Pay April One
Record March 20
| Commodities and Trade |
<M-CORP INC> YEAR DEC 28 NET
| Shr 73 cts vs 55 cts
Net 1,691,878 vs 1,117,747
Revs 7.1 mln vs 4.9 mln
Avg shrs 2.3 mln vs 2.0 mln
NOTE: Share results reflect two-for-one stock split in
June, 1986.
| Financial Reports |
DOME PETROLEUM REAFFIRMS DOME MINES STAKE FOR SALE AT RIGHT PRICE, SPOKESMAN SAYS
|
DOME PETROLEUM REAFFIRMS DOME MINES STAKE FOR SALE AT RIGHT PRICE, SPOKESMAN SAYS
| Other |
COMMONWEALTH MORTGAGE <CCMC> BUYS ARMONK FIRM
| Commonwealth Mortgage Co said
it purchased Westfiar Funding Corp of Armonk, N.Y., for an
undisclosed amount of cash.
Commonwealth said Westfair originated 60 mln dlrs of
residential mortgage loans during 1986.
| Other |
<M-CORP INC> RAISES DIVIDEND
| Semi-annual div 7-1/2 cts vs five cts
Pay April nine
Record March 26
| Financial Reports |
PERMIAN <PBT> RAISES CRUDE PRICES
| Permian Corp said that effective march 5
it raised its posted prices for crude oil 50 cts a barrel.
The raise brought its posted prices for West texas
Intermediate up by 50 cts to 17.00 dlrs a barrel.
West Texas Sour was also raised by 50 cts to 17.00 dlrs a
barrel.
A Permian spokesman said th... | Other |
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