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LIFFE FEBRUARY VOLUMES DOWN, BUT EURODOLLARS UP
| Total futures and options turnover on the
London International Financial Futures Exchange (LIFFE) fell
slightly during February, although daily average Eurodollar
volume set a new record, LIFFE said today.
Total futures and options turnover last month was 822,378
contracts, down from January's 881,778, ... | Commodities and Trade |
COLOMBIAN OIL EXPORTS NOT AFFECTED BY QUAKE
| Colombian oil installations were not
damaged by an earthquake which shook Ecuador and southern
Colombia last night and there are no plans to suspend exports,
a spokesman for the state-run oil company Ecopetrol said.
He said no damage was reported, unlike in Ecuador where
indefinite force majeure was dec... | Other |
CHICAGO MILWAUKEE <CHG> GREETS SHEARSON STAKE
| Chicago Milwaukee Corp said it welcomed
an investment by Shearson Lehman Brothers Inc in its company.
Yesterday, Shearson Lehman, a subsidiary of American
Express Co (AXP), disclosed in a Securities and Exchange
Commission filing that it holds a 5.35 pct interest in Chicago
Milwaukee.
Chicago Milw... | Financial Reports |
DAUPHIN DEPOSIT <DAPN> TO MAKE ACQUISITION
| Dauphin Deposit Corp said it has
signed a letter of intent to acquire Colonial Bancorp Inc of
New Holland, Pa., in an exchange of 3.6 to 4.4 Dauphin shares
for each colonial share, depending on the market value of
Dauphin shares just before the merger takes place.
The company said the acquisition is sub... | Financial Reports |
VAN DORN CO <VDC> SETS QUARTERLY
| Qtly div 27-1/2 cts vs 27-1/2 cts prior
Pay May One
Record April 17
| Commodities and Trade |
M.D.C. HOLDINGS INC <MDC> SETS QUARTERLY
| Qtly div 10 cts vs 10 cts prior
Pay March 31
Record March 16
| Corporate News |
CHUBB CORP <CB> SETS QUARTERLY
| Qtly div 42 cts vs 42 cts prior
Pay April Seven
Record March 20
| Market and Economy |
CRUDE OIL PRICES UP AS STOCKS, OUTPUT FALL
| U.S. crude oil prices rose above 18
dlrs a barrel this week and industry analysts said the price
could rise another dollar as inventories fall.
"OPEC is keeping its production down, and in the cash market
there is tight supply of crude with short transportation time
to major refining centers," said Dan... | Financial Reports |
MGE PLANNING APRIL 6 START UP OF HFCS CONTRACT
| The Minneapolis Grain Exchange (MGE)
will start trading futures contracts in high fructose corn
syrup on April 6 if the Commodity Futures Trading Commission
(CFTC) approves the contract as expected next week.
Pat Henderson, spokesperson for the MGE, said the exchange
expects contract approval at CFTC's ... | Commodities and Trade |
FIRST FEDERAL BROOKSVILLE <FFBV> SETS QUARTERLY
| Qtly div four cts vs four cts prior
Pay March 31
Record March 20
NOTE: First Federal Savings and Loan Association of
Brooksville.
| Financial Reports |
ALUMINUM CO OF AMERICA <AA> REGULAR DIVIDEND
| Qtly div 30 cts vs 30 cts in prior qtr
Payable May 25
Record May one
| Financial Reports |
<TECHNIGEN PLATINUM CORP> IN METALS FIND
| Technigen Platinum corp said it
initial results of a 13-hole drilling program on its R.M. Nicel
platinum property in Rouyn-Noranda, Quebec, indicate
"extensive" near-surface zones "highly" enriched in gold,
platinum and palladium were found in rocks on the periphery of
a sulphide deposit.
It said valu... | Commodities and Trade |
SIEMENS WANTS TO AMEND TELECOM PLUS <TELE> PACT
| Telecom Plus International Inc
said <Siemens AG>'s Siemens Information Systems wants to amend
its agreement to purchase Telecom's 65 pct interest in Tel Plus
Communications to delay payment of 25 mln dlrs for 11 months.
Telecom's shareholders are scheduled to vote on the 165 mln
dlr transaction Monda... | Financial Reports |
LUCKY STORES SAYS IT AND INVESTOR EDELMAN REACHED STANDSTILL AGREEMENT
|
LUCKY STORES SAYS IT AND INVESTOR EDELMAN REACHED STANDSTILL AGREEMENT
| Market and Economy |
PIONEER GROUP UNIT GETS MORE GHANA GOLD LAND
| The Pioneer Group Inc said its 70
pct-owned Teberebie Goldfields Ltd venture was granted an
additional concession of land in Ghana to seek and mine gold.
The State Gold Mining Corp of Ghana granted the venture an
additional 14.5 square kilometers in Teberebie, Ghana,
contiguous to 11.5 square kilometers... | Financial Reports |
INTERNATIONAL MULTIFOODS CORP <IMC> DIVIDEND
| Qtly div 29-1/2 cts vs 29-1/2 cts prior
Pay April 15
Record March 27
| Financial Reports |
HADSON CORP <HADS> 4TH QTR NET
| Shr profit four cts vs loss 99 cts
Net profit 545,000 vs loss 13.1 mln
Revs 75.3 mln vs 37.9 mln
Avg shrs 14.8 mln vs 13.1 mln
Year
Shr profit 34 cts vs profit 34 cts
Net profit 4,908,000 vs profit 4,487,000
Revs 216.8 mln vs 117.7 mln
Avg shrs 14.6 mln vs 13.1 mln
... | Financial Reports |
JAPAN'S NTT FORECASTS PROFITS FALL IN 1987/88
| <Nippon Telegraph and Telephone Corp>
(NTT) expects its profits to fall to 328 billion yen in the
year ending March 31, 1988 from a projected 348 billion this
year, the company said.
Total sales for the same period are expected to rise to
5,506 billion yen from a projected 5,328 billion this year, NT... | Financial Reports |
LUCKY STORES <LKS>, EDELMAN IN STANDSTILL PACT
| Lucky Stores Inc said it and
investor Asher Edelman agreed on a settlement that prohibits
Edelman and his group from taking specified actions to obtain
control of the company and that limits the Edelman group's
ownership of Lucky's stock to less than five pct of any voting
securities.
The arrangement ... | Financial Reports |
ATT <T> PHONE PROPOSAL TO HELP PROFITS
| American Telephone and Telegraph Co's
proposal to deregulate its long distance phone service is
unlikely to produce a radical change in phone rates, but it
should help the company's profits, analysts said.
"Deregulation will mean more pricing discounts for large
volume users, but status quo for resident... | Financial Reports |
CME SETS MAY 29 START FOR LUMBER FUTURES OPTIONS
| The Chicago Mercantile Exchange (CME)
board of governors announced today the options on Random Length
lumber futures will begin trading on May 29.
The contract received Commodity Futures Trading Commission
(CFTC) approval on January 21 after being submitted for review
last October 13.
Initially, o... | Financial Reports |
TWA CONFIRMS OWNERSHIP OF 15 PCT OF USAIR GROUP
|
TWA CONFIRMS OWNERSHIP OF 15 PCT OF USAIR GROUP
| Financial Reports |
STRUTHERS WELLS <SUW> SEES 1986 NOV 30 LOSS
| Struthers Wells Corp said it expects
to report a loss, without tax benefit, of about 16 mln dlrs for
the fiscal year ended November 30, 1986, versus a profit of
295,000 dlrs in fiscal 1985.
The company added, however, that about 13.6 mln dlrs of the
loss relates to discontinued operations and disposal o... | Financial Reports |
SOROS GROUP TELLS SEC IT MAY BUY UP TO 49.9 PCT OF FAIRCHILD INDUSTRIES
|
SOROS GROUP TELLS SEC IT MAY BUY UP TO 49.9 PCT OF FAIRCHILD INDUSTRIES
| Financial Reports |
TWA <TWA> CONFIRMS OWNERSHIP OF USAIR <U> STOCK
| Trans World Airlines Inc said it owns
more than four mln USAir Group shares or about 15 pct of the
total outstanding.
TWA said it may acquire additional shares in the open
market, in private transactions, through a tender offer or
otherwise, subject to Department of Transportation approval.
TWA ha... | Financial Reports |
SILVER STATE MINING <SSMC> CORRECTS NET
| Silver State Mining Corp said it has
corrected its 1986 fourth quarter net income to 485,380 dlrs
from 528,790 dlrs reported earlier today.
The company earned 286,969 dlrs in last year's fourth
quarter.
| Financial Reports |
STEWART-WARNER CORP 4TH QTR SHR LOSS 3.86 DLRS VS PROFIT 37 CTS
|
STEWART-WARNER CORP 4TH QTR SHR LOSS 3.86 DLRS VS PROFIT 37 CTS
| Financial Reports |
GROUP TO BOOST FAIRCHILD INDUSTRIES (FEN) STAKE
| An investor group led by New York
investor George Soros said it was dissatisfied with Fairchild
Industries Inc management and was considering boosting its
holdings to as much as 49.9 pct of the aerospace and aviation
company's outstanding stock.
The group already controls 1,647,481 Fairchild Industries
... | Financial Reports |
PAYLESS CASHWAYS <PCI> SEES BETTER FIRST QTR
| Payless Cashways Inc chairman David
Stanley told analysts the company's first quarter results to be
reported March 17 will be better than the seven cts per share
reported in the year ago quarter.
"It was not a wonderful sales quarter, but it only
represents 14 pct of the year's total results," Stanley s... | Corporate News |
STEWART-WARNER CORP <STX> 4TH QTR LOSS
| Shr loss 3.86 dlrs vs profit 37 cts
Net loss 24,973,000 vs profit 2,389,000
Sales 62.5 mln vs 65.3 mln
Year
Shr loss 3.22 dlrs vs profit 1.32 dlrs
Net loss 20,861,000 vs profit 8,515,000
Sales 268.0 mln vs 272.7 mln
NOTE: 1986 earnings include a provision for restructuring
... | Corporate News |
MONITERM CORP <MTRM> 4TH QTR LOSS
| Shr loss 15 cts vs loss 11 cts
Net loss 632,000 vs loss 437,000
Revs 3,206,000 vs 2,650,000
Year
Shr loss 19 cts vs loss 24 cts
Net loss 793,000 vs loss 1,004,000
Revs 11.5 mln vs 14.4 mln
NOTE: Prior year figures restated to reflect merger in
March 1986 with Amtron Corp.
... | Commodities and Trade |
THE CHUBB CORP <CB> SETS QTRLY PAYOUT
| Qtrly 42 cts vs 42 cts prior
Pay April 7
Record March 20
| Financial Reports |
CHINA SIGNS WORLD BANK LOAN FOR TIANJIN PORT
| China has signed a 130 mln dlr loan
agreement with the World Bank to partly finance 12 new berths
with an annual capacity of 6.28 mln tonnes at the 20 mln tonne
a year capacity Tianjin port, the New China News Agency said.
China will provide 370 mln yuan for the project and a
Chinese company won a bid a... | Financial Reports |
SOUTHTRUST <SOTR> TO ACQUIRE FOUR BANKS
| SouthTrust Corp, a 5.1 billion
dlr multibank holding company, said it entered into agreements
to acquire four Florida banks with assets totalling more than
233.2 mln dlrs.
Terms of the agreements were not disclosed.
The four banks are: Central Bank of Volusia County, with
assets of 59.3 mln dlrs, ... | Financial Reports |
CARLING O'KEEFE SELLS STAR OIL UNIT TO UNITED COAL CANADA FOR 57 MLN DLRS
|
CARLING O'KEEFE SELLS STAR OIL UNIT TO UNITED COAL CANADA FOR 57 MLN DLRS
| Financial Reports |
HUGHES TOOL <HT> UP ON MERGER SPECULATION
| Hughes Tool Co rose one to 12-1/4 on
1,658,000 shares, apparently reflecting a belief that Baker
International Corp <BKO> will be able to persaude Hughes to go
along with a previously announced merger, analysts said.
This week Hughes seemed to back out of the merger but then
said it was still interes... | Commodities and Trade |
AETNA <AET> REACHES AGREEMENT TO BUY COMPANY
| Aetna Life and Casualty Co said
it reached an agreement to acquire a 49 pct interest in
Universal Life and General Insurance Sdn Bhd <ULG>, a Malaysian
composite insurance company.
The company said the 51 pct balance will continue to be
owned by Malaysia Apera Group of private investors.
The tr... | Corporate News |
CARLING O'KEEFE<CKB> SELLS OIL UNIT, TAKES GAIN
| Carling O'Keefe Ltd said it sold its
Star Oil and Gas Ltd unit to United Coal (Canada) Ltd for about
57 mln dlrs cash.
Carling said it will record an extraordinary gain of about
two mln dlrs after tax, or nine cts a common share resulting
from the sale.
The company did not elaborate further on fin... | Corporate News |
CHANNEL FERRY REPORTED SINKING OFF BELGIUM
| The channel ferry Herald
of Free Enterprise from the British Townsend Thorensen company
was sinking off the Belgian coast tonight with 463 people on
board, the Dutch newsagency ANP reported today.
An unspecified number of people had fallen into the water,
it said, quoting the pilot organisation in this ... | Commodities and Trade |
PATRICK PETROLEUM CO <PPC> YEAR LOSS
| Shr loss 1.22 dlrs vs profit 27 cts
Net loss 8,812,432 vs profit 1,847,560
Revs 7,981,198 vs 10.3 mln
Avg shrs 7,187,941 vs 6,828,368
NOTE: Current year includes tax credit of 800,000 dlrs.
| Commodities and Trade |
EPITOPE INC <EPTO> 1ST QTR DEC 31 LOSS
| Shr loss 24 cts vs loss nine cts
Net loss 216,697 vs loss 47,344
Sales 144,403 vs 118,391
| Corporate News |
<CLARY CORP> 4TH QTR DEC 31 LOSS
| Shr loss 12 cts vs loss 16 cts
Net loss 214,000 vs 309,000
Revs 3,056,000 vs 2,545,000
Year
Shr loss 43 cts vs loss nine cts
Net loss 754,000 vs loss 159,000
Revs 11.4 mln vs 11.4 mln
| Financial Reports |
LLOYDS BANK CANADA 1ST QTR PROFIT RISES SHARPLY
| Lloyds Bank Canada, a unit of <Lloyds
Bank International PLC>, said net profit soared to 3,053,000
dlrs for the first quarter ended January 31 from 9,000 dlrs a
year earlier.
Loan loss provisions, a mandatory five-year averaging of
actual loan losses, also rose in the first quarter to 6,375,000
dlr... | Financial Reports |
BRAZIL STRIKES CAUSE GOVERNMENT MAJOR PROBLEMS
| Strikes by Brazil's 40,000
seamen and by petrol station owners in four states are causing
major headaches to a government already wrestling with a debt
crisis.
A week ago seamen began their first national strike for 25
years and union leaders say they have seriously affected
Brazilian exports by makin... | Financial Reports |
Japan February external reserves record 51.73 billion dlrs (January 51.46 billion)
|
Japan February external reserves record 51.73 billion dlrs (January 51.46 billion)
| Financial Reports |
DOME PETE<DMP> SAID TO BE PRESSED TO SELL ENCOR
| Dome Petroleum Ltd is under pressure
from one of its largest creditors, <Canadian Imperial Bank of
Commerce>, to sell its 42 pct stake in <Encor Energy Corp Ltd>,
energy industry analysts said.
Dome has pledged its 42.5 mln Encor shares as security for
part of its debt to Commerce Bank, estimated ... | Financial Reports |
PATRICK PETROLEUM CO <PPC> 4TH QTR NET
| Shr nil vs one ct
Net 59,608 vs 95,909
Revs 2,921,629 vs 2,918,682
Avg shrs 7,062,172 vs 7,273,020
Year
Shr loss 1.22 dlrs vs profit 27 cts
Net loss 8,812,432 vs profit 1,847,560
Revs 3,070,327 vs 3,195,710
Avg shrs 7,187,941 vs 6,828,368
| Industrial and Sector News |
INLAND VACUUM INDUSTRIES INC <IVAC> 1ST QTR NET
| Qtr ends Jan 31
Shr six cts vs eight cts
Net 103,436 dlrs vs 134,360 dlrs
Revs 1,762,270 vs 1,282,463
| Financial Reports |
IRANIAN OIL MINISTER ARRIVES IN ALGERIA
| Iranian Oil Minister Gholamreza Aqazadeh
arrived in Algiers at the head of a large delegation for talks
on stabilizing oil prices, the official news agency APS said.
In a brief arrival statement, he said Iran and Algeria were
engaged in "continuous and stronger cooperation" on the world
petroleum market... | Corporate News |
DEL LABORATORIES INC <DLI> 4TH QTR NET
| Shr 16 cts vs 55 cts
Net 232,000 vs 814,000
Revs 22.4 mln vs 22 mln
Year
Shr 2.07 dlrs vs 2.43 dlrs
Net 3,108,000 vs 3,670,000
Revs 106.7 mln vs 101.1 mln
NOTE: Per share figures adjusted to reflect four-for-three
stock split paid March 26, 1986.
| Other |
JAPAN FEBRUARY RESERVES RECORD 51.73 BILLION DLRS
| Japan's external reserves rose to a record
51.73 billion dlrs at the end of February from the previous
record of 51.46 billion at end-January, the Finance Ministry
said.
End-February reserves last year were 27.58 billion dlrs.
In January, the nation's foreign reserves showed the
largest-ever month... | Commodities and Trade |
CHILEAN GDP UP 5.7 PCT IN 1986, CENTRAL BANK SAYS
| chile's gross domestic product rose 5.7
pct last year to 18.8 billion dollars, compared to a 2.4 pct
rise in the previous year, the central bank said.
It said initial projections were for a 4.6 pct increase in
gdp this year.
The sectors which registered the greatest growth in 1986
were fisheries w... | Commodities and Trade |
LANDMARK SAVINGS <LSA> COMPLETES OFFICE SALE
| Landmark Savings Association said it
completed the sale of its Whitehall, Pa., office, including
deposits of about 31 mln dlrs, to Parkvale Savings Association.
Landmark said it realized a gain of about 1.1 mln dlrs on
the sale. The price was not disclosed.
| Commodities and Trade |
U.S. FEEDGRAINS GROUP ATTACKS CANADA CORN RULING
| The U.S. Feedgrains Council is
surprised and disappointed by the Canadian Import Tribunal's
decision that imports of corn from the U.S. are materially
injuring Canadian corn producers, a council spokesman said.
"At a time when the world is attempting to liberalize trade
in the new rounnd of multilateral... | Commodities and Trade |
HOLLY SUGAR CORP <HLY> SETS REGULAR DIVIDEND
| Qtly div 25 cts vs 25 cts prior
Pay March 31
Record March 18
| Corporate News |
CORADIAN CORP <CDIN> YEAR NET
| Shr profit one cent vs loss 37 cts
Net profit 148,000 dlrs vs loss 1,686,000
Revs 11.4 mln vs 10.9 mln
NOTE: Company said net is before extraordinary items and
taxes and declined to provide data on those items
| Corporate News |
USDA TO CONDUCT SURVEY FOR AVIAN INFLUENZA
| U.S. Agriculture Department animal
health officials are conducting a national survey of live-bird
markets and auctions to check for signs of avian influenza, an
infectious viral disease of poultry, the department said.
The survey will locate poultry dealers and live-bird
markets that sell live birds dir... | Financial Reports |
TWO HUNDRED PEOPLE RESCUED FROM SINKING FERRY
| About 200 people were rescued, some
badly hurt, from a sinking cross Channel ferry carrying
approximately 540 people off the Belgian port of Zeebrugge, a
port control spokesman said.
The spokesman, contacted by telephone, said only one third
of car ferry, the Herald of Free Enterprise owned by the
Bri... | Financial Reports |
FOXBORO CO <FOX> 4TH QTR LOSS
| Oper shr loss one ct vs loss 2.65 dlrs
Oper net loss 100,000 vs loss 32.7 mln
Revs 142.3 mln vs 168.8 mln
12 mths
Oper shr profit 57 cts vs loss 2.76 dlrs
Oper net profit 7,072,000 vs loss 34.2 mln
Revs 544.0 mln vs 572.2 mln
Note: 1986 oper net excludes tax credits of 2,149,... | Commodities and Trade |
LYNG SAYS NO DECISIONS TAKEN AT CABINET COUNCIL
| U.S. Agriculture Secretary Richard
Lyng said no decisions were taken today at a White House
Economic Policy Council meeting.
Speaking to reporters on his return from the meeting, Lyng
said only about five minutes of the session dealt with
agriculture issues.
"It was not a decision making meeting,"... | Financial Reports |
TREASURY BALANCES AT FED FELL ON MARCH 5
| Treasury balances at the Federal
Reserve fell on March 5 to 3.467 billion dlrs from 3.939
billion dlrs the previous business day, the Treasury said in
its latest budget statement.
Balances in tax and loan note accounts fell to 14.350
billion dlrs from 14.391 billion dlrs on the same respective
days.
... | Corporate News |
NICARAGUA, ROMANIA, PARAGUAY LOSE TRADE RIGHTS
| President Reagan formally ended
preferential duty-free trade treatment for exports from
Nicaragua, Romania and Paraguay under the Generalized System of
Preferences (GSP).
He took the action after determining that the three
countries are not taking steps to give their workers
internationally recognized... | Financial Reports |
U.S. FEEDGRAIN 0/92 SUPPORTERS EVALUATE POSITION
| Advocates of a 0/92 plan for
feedgrains will likely delay offering their proposals if a
disaster aid bill before the House Agriculture Committee is
scaled back to include only 1987 winter wheat, congressional
sources said.
The disaster aid bill, introduced by Rep. Glenn English
(D-Okla.), sparked shar... | Other |
ALFIN INC <AFN> 2ND QTR JAN 31 LOSS
| Shr loss 20 cts vs profit 14 cts
Net loss 1,417,000 vs profit 933,000
Revs 5,623,000 vs 5,403,000
Avg shrs 6,957,300 vs 7,115,248
Six mths
Shr loss 18 cts vs profit 43 cts
Net loss 1,269,000 vs profit 3,079,000
Revs 15.7 mln vs 14.2 mln
Avg shrs 7,195,720 vs 7,115,248
... | Financial Reports |
BELL AND HOWELL <BHW> COMPLETES SALE OF UNIT
| Bell and Howell Co said it
completed the sale of its computer output microfilm business to
COM Products Inc, a unit of privately-held <LeBow Industries
Inc>.
The sum of the deal was not disclosed.
The unit makes a device that prints data directly from a
computer onto microfilm.
| Financial Reports |
U.S. BUSINESS LOANS FALL 618 MLN DLRS IN FEB 25 WEEK, FED SAYS
|
U.S. BUSINESS LOANS FALL 618 MLN DLRS IN FEB 25 WEEK, FED SAYS
| Corporate News |
U.S. BUSINESS LOANS FALL 618 MLN DLRS
| Business loans on the books of major
U.S. banks, excluding acceptances, fell 618 mln dlrs to 278.88
billion dlrs in the week ended February 25, the Federal Reserve
Board said.
The Fed said that business loans including acceptances fell
897 mln dlrs to 281.23 billion dlrs.
| Financial Reports |
HYPONEX CORP <HYPX> YEAR NET
| Shr 85 cts vs 1.20 dlrs
Net 5,130,000 vs 7,236,000
Revs 93.6 mln vs 91.9 mln
| Corporate News |
HMO AMERICA INC <HMOA> YEAR LOSS
| Shr loss 33 cts vs profit 38 cts
Net loss 2,359,978 vs profit 2,805,389
Revs 76.2 mln vs 61.8 mln
Avg shrs 7,096,886 vs 7,392,586
| Financial Reports |
TECHNIGEN PLATINUM CORP IN METALS FIND
| Technigen Platinum corp said initial
results of a 13-hole drilling program on its R.M. Nicel
platinum property in Rouyn-Noranda, Quebec, indicate extensive
near-surface zones highly enriched in gold, platinum and
palladium.
The metals were found in rocks on the periphery of a
sulphide deposit.
I... | Financial Reports |
AMERICAN PORK CONGRESS TO BE OVERHAULED IN 1988
| The National Pork Producers Council,
NPPC, announced at this year's American Pork Congress, APC,
that the Congress and trade show will be divided into two parts
in 1988.
Next years APC, held in Atlanta, will be a business session
only and will continue to be the first week of March.
The trade show... | Corporate News |
<DTD ENTERPRISES INC> IN REORGANIZATION
| DTD Enterprises Inc said it filed an
8-K report indicating that <EaglesLair Development Corp> had
assumed control of the company under a reorganization plan
signed last month.
The company said D. Gerald Lach, president of EaglesLair,
was named president and a director of DTD.
In addition, DTS's... | Corporate News |
SCHWAB SAFE CO <SS> UPS PAYOUT
| Qtly div 13 cts vs 12 cts prior
Pay April 17
Record March 31
| Corporate News |
PHYSICIANS INSURANCE CO <PICO> 4TH QTR NET
| Shr 31 cts vs 53 cts
Net 960,143 dlrs vs 1,631,011 dlrs
Revs 27.4 mln dlrs vs 18.9 mln dlrs
Avg shrs 3,079,533 vs 3,096,095
12 mths
Shr 1.01 dlrs vs 92 cts
Net 3,113,337 dlrs vs 2,855,755 dlrs
Revs 106.5 mln dlrs vs 78.3 mln dlrs
Avg shrs 3,079,516 vs 3,089,140
NO... | Financial Reports |
BRADLEY <BRLY> ANNOUNCES LONG-TERM LEASE
| Bradley Real Estate Trust said it signed
a 99-year lease for property in downtown Minneapolis to BCED
Minnesota Inc.
The lease will increase net income by about 24 cts a share
on a post-February 1987 three-for-two stock split basis. For
1986, the Trust reported net income of 1.3 mln dlrs or 38 cts a
s... | Corporate News |
DUMEZ UNIT HAS 94 PCT OF WESTBURNE (WBI)
| (Dumez Investments I Inc) said 94.7 pct
of Westburne International Industries Ltd's outstanding common
shares have been deposited under its takeover bid.
It said it has received about 11,070,000 shares under its
22.50 dlrs per share offer which expired yesterday.
Dumez said it will proceed to acquir... | Corporate News |
CANADIAN NATURAL RESOURCES TO SELL STAKE
| <Canadian Natural Resources
Ltd> said it agreed in principle to sell 80 pct of its working
interest in certain producing and non-producing natural gas
properties located in southwestern Saskatchewan.
The transaction is expected to close on April 1, 1987, the
company said. It did not identify the buye... | Corporate News |
MALRITE BUYS COX'S RADIO STATION UNIT
| <Malrite Guaranteed Broadcast Partners
L.P.> said it bought WTRK Inc from <Cox Enterprises Inc> for
13.8 mln dlrs in cash.
It said WTRK owns and operates WTRK-FM, a Philadelphia
radio station. Transfer of the license for the sation has been
approved by the Federal Communications Commission.
... | Corporate News |
JANUARY HOUSING SALES DROP, REALTY GROUP SAYS
| Sales of previously owned homes
dropped 14.5 pct in January to a seasonally adjusted annual
rate of 3.47 mln units, the National Association of Realtors
(NAR) said.
But the December rate of 4.06 mln units had been the
highest since the record 4.15 mln unit sales rate set in
November 1978, the group sa... | Financial Reports |
ICO TALKS ON COFFEE QUOTAS TO RESUME AT NOON
| Talks on coffee export quotas at the
International Coffee Organization (ICO) special council session
will resume at noon gmt today, following a last minute decision
taken early this morning to extend the meeting 24 hours, ICO
officials said.
An 18 member contact group will meet at midday to examine
ne... | Financial Reports |
CYACQ EXTENDS TENDER FOR CYCLOPS <CYL>
| Cyacq Corp said it extended its 80
dlr a share tender offer for Cyclops Corp to March 20 from
today.
Cyacq was formed by Citicorp Capital Investors Ltd and
Audio Video Affiliates INc <AVA> to acquire Cyclops. THe tender
offer began on February six.
The offer is conditioned upon at least 80 pct ... | Financial Reports |
MONO GOLD SAYS PARTNERSHIP AGREES TO BUY SHARES
| <Mono Gold Mines
Inc> said <NIM and Co Ltd> Partnership agreed to buy
flow-through shares with an aggregate purchase price of up to
300,000 dlrs.
It said, subject to fulfillment of certain conditions, the
price of the shares to NIM will be 79.6 cts per share, and said
it will issue 376,955 share... | Financial Reports |
USLICO CORP <USVC> INCREASES DIVIDEND
| Qtly div 22 cts vs 20 cts prior
payable March 27
Record March 18
| Financial Reports |
USAIR GROUP REQUESTS TRANSPORTATION DEPARTMENT ORDER TWA TO DIVEST STAKE
|
USAIR GROUP REQUESTS TRANSPORTATION DEPARTMENT ORDER TWA TO DIVEST STAKE
| Commodities and Trade |
DIPLOMAT ELECTRONICS <DPEC> TO CUT COSTS
| Diplomat Electronics Corp said it
will reduce expenses by four mln dlrs a year in an effort to
stem losses and return to a positive net worth.
The company also said certain lenders agreed to take a 24
pct stake in the company by converting seven mln dlrs of debt
into preferred stock.
Diplomat said... | Market and Economy |
U.S. CORN GROWERS BLAST CANADA CORN RULING
| Canada's ruling in favor of a duty on
U.S. corn was a keen disappointment to the National Corn
Growers Association and has set a dangerous precedent for other
nations to follow, said Mike Hall, lobbyist for the
association.
"The French corn growers will clearly charge ahead now and
just change corn to... | Corporate News |
DOLLAR GENERAL CORP <DOLR> QTLY DIVIDEND
| Qtly div five cts vs five cts prior
Payable April three
Reocrd March 20
| Financial Reports |
HEALTHCARE SERVICES <HSAI> SEES WRITE-OFFS
| Healthcare Services Of America
Inc said it will write off about 16 mln dlrs in non-recurring
expenses in 1986.
It also said it expects income from operations to be about
breakeven for 1986 and the estimated loss for the year to be
about the same as the writeoffs.
Results will be released by March ... | Financial Reports |
USAIR <U> SEEKS ORDER AGAINST TWA <TWA>
| USAir Group said it sought the help
of the U.S. Department of Transportation in its takeover fight
with Trans World Airlines Inc, asking the Department to order
TWA to sell its USAir shares.
"What they have done is in direct violation of the Federal
Aviation Act," USAir said.
It said TWA week file... | Financial Reports |
PARK-OHIO INDUSTRIES INC <PKOH> 4TH QTR NET
| Shr loss 52 cts vs profit 1.07 dlr
Net loss 2,917,000 vs profit 5,963,000
Revs 34.1 mln vs 40.3 mln
Year
Shr loss 1.39 dlr vs profit 1.24 dlr
Net loss 7,749,000 vs profit 6,946,000
Revs 138.6 mln vs 186.2 mln
NOTE: 1986 net includes certain non-recurring charges of
about 5,... | Corporate News |
BMC INDUSTRIES INC <BMC> 4TH QTR LOSS
| Shr loss 1.20 dlrs vs loss 1.97 dlrs
Net loss 6,248,000 vs loss 10.2 mln
Revs 33.1 mln vs not given
Year
Shr loss 1.25 dlrs vs loss 13.44 dlrs
Net loss 6,508,000 vs loss 69.6 mln
Revs 123.4 mln vs not given
NOTE: Results include charges of five mln dlrs or 96 cts
shr for 19... | Market and Economy |
UNITED COMPANIES <UNCF> DECLARES STOCK DIVIDEND
| United Companies Financial Corp
said its board declared a two pct stock dividend payable APril
eight to holders of record March 17.
The board also declared a regular quarterly cash dividend
of 12.5 cts payable April one to holders of record March 16.
| Corporate News |
U.S. FARM PROGRAMS HELP CANADIAN CORN PRODUCERS
| An American Farm Bureau
Federation (AFBF) official said that far from hurting Canadian
corn producers, U.S. farm programs benefit all foreign
producers.
AFBF president Dean Kleckner made the comments in response
to the ruling earlier today by the Canadian Import Tribunal
that subsidized U.S. corn impo... | Financial Reports |
U.N. ISSUES REPORT ON NATURAL GAS CLAUSES
| The U.N. Centre on Transnational
Corporations has issued a report containing guidelines and
recommendations for negotiating natural gas clauses in
agreements between transnational petroleum corporations and
host countries.
The U.N. said the report was aimed at promoting petroleum
exploration in areas ... | Financial Reports |
TAFT<TFB> BIDDERS WOULD SELL ENTERTAINMENT UNIT
| A proposed buyout of Taft Broadcasting
Co by Dudley Taft and other investors includes a plan to sell
the company's Entertainment Group, according to one of the
investors.
Jonathan Nelson, managing director of Narragansett Capital
Corp <NARR>, which is participating in the buyout plan,
declined to s... | Other |
POSITIVE OUTLOOK TEMPERED IN U.S. DEBT FUTURES
| Higher oil prices and stronger than
expected U.S. employment growth led to sharp losses in U.S.
interest rate futures and diminished what had been a positive
chart outlook, financial analysts said.
The increase of 319,000 in non-farm payroll employment
during February was above market expectations for a... | Other |
SANDOX BUYS STAUFFER SEEDS
| Sandoz Corp's Northrup King Co said
it bought Stauffer Seeds, a unit of Stauffer Chemical Co.
Terms were not disclosed.
| Financial Reports |
ENERGEN <EGN> BUYS MUNICIPAL GAS SYSTEM
| Energen Corp said it has
acquired the distribution system of the City of Clanton, Ala.
for about 1.2 mln dlrs.
The 1,800 customer system is the fourth municipal system
acquired by Energen's Alabama Gas subsidiary since October
1986, adding a total of 9,600 customers.
| Corporate News |
SIERRA PACIFIC RESOURCES INC <SRP> DIVIDEND
| Qtly div 43 cts vs 43 cts prior
Payable May one
Record April 15
| Corporate News |
METEX CORP <MTX> 4TH QTR DEC 28
| Shr 22 cts vs 49 cts
Net 296,994 vs 657,416
Revs 6.5 mln vs 9.5 mln
Year
Shr 78 cts vs 1.51 dlrs
Net 1.0 mln vs 2.0 mln
Revs 27.6 mln vs 29.4 mln
| Financial Reports |
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