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TRADE INTERESTS READY FOR FIGHT IN U.S. CONGRESS
| U.S. lawmakers are gearing up for a
showdown between protectionists and free traders as a major
trade bill winds its way through committees to a vote by the
full House of Representatives in late April.
In a move to toughen U.S. enforcement of trade laws, a key
House subcommittee last week approved a ton... | Corporate News |
ENDOTRONICS <ENDO> EXPECTS LOSS FOR YEAR
| Endotronics Inc said it expects to
incur "substantial losses" for the second quarter ending March
31 and fiscal year ending Sept 30, 1987.
As one factor behind the anticipated loss, Endotronics
cited a dispute by one of its Japanese distributors, <Yamaha
Inc>, over payment of a 3,686,000 dlr promisso... | Financial Reports |
French February year on year inflation 3.4 pct vs three pct January - official
|
French February year on year inflation 3.4 pct vs three pct January - official
| Financial Reports |
CONTINENTAL AIR HOLDERS TO GET FURTHER PAYMENT
| Texas Air Corp said under a settlement
of class action litigation with <Mutual Shares Corp>, former
minority shareholders of Continental Airlines Inc will receive
an additional 3.75 dlrs per share.
In February, Texas Air acquired the minority interest in
Continental that it did not already own for 16... | Commodities and Trade |
CRONUS INDUSTRIES INC <CRNS> 4TH QTR LOSS
| Oper Shr loss 40 cts vs loss 10 cts
Oper net loss 2,136,000 vs loss 467,000
Revs 21.9 mln vs 12.9 mln
12 mths
Oper shr loss 63 cts vs loss 30 cts
Oper net loss 3,499,000 vs loss 1,756,000
Revs 82.0 mln vs 54.5 mln
NOTE: Excludes income from discontinued operations of
1,478,... | Other |
COCOA CONSUMERS NARROW GAP ON BUFFER STOCK ISSUE
| Representatives of cocoa consuming
countries at an International Cocoa Organization, ICCO, council
meeting here have edged closer to a unified stance on buffer
stock rules, delegates said.
While consumers do not yet have a common position, an
observer said after a consumer meeting, "They are much more
... | Other |
CCC ACCEPTS WHEAT BID FOR W AFRICA COUNTRIES
| The Commodity Credit Corportion,
CCC, has accepted a bid for an export bonus to cover the sale
of 15,000 tonnes of U.S. wheat to West African countries, the
U.S. Agriculture Department said.
The dark northern spring wheat is for shipment May 15-June
15, 1987.
The bonus of 40.05 dlrs per tonne was ... | Commodities and Trade |
LOWRANCE ELECTRONICS <LEIX> SEES ORDERS OFF
| Lowrance Electronics Inc said
results from operations in the third and fourth quarter may not
be comparable to the first and second quarters, which were
strong because of orders for new sonar equipment.
For the six months ended Jan 31, the company reported net
income almost tripled to 951,000 dlrs or 34... | Other |
CANADA MANUFACTURING UTILIZATION RATE RISES
| Utilization of Canadian manufacturing
capacity rose to 77.2 pct in the fourth quarter of 1986 from 77
pct in the third quarter, Statistics Canada said.
"Although the change was small, this marked the first
quarter since the third quarter of 1985 in which the
utilization rates for manufacturing as a whol... | Financial Reports |
FRENCH INFLATION SLOWS IN FEBRUARY
| French inflation slowed in February to
between 0.1 and 0.2 pct against 0.9 pct in January, the
National Statistics Institute (INSEE) said.
The retail price index showed a year-on-year rise of 3.4
pct against three pct in January. An INSEE official said the
final figure for February would be released lat... | Financial Reports |
MERCURY ENTERTAINMENT CORP <MCRY> YEAR NOV 30
| Shr loss four cts vs loss one ct
Net loss 413,021 vs loss 163,932
Revs 600,971 vs 665,800
| Financial Reports |
CAPITOL BANCORP <CAPB> TO RESTATE NET TO LOSS
| Capitol Bancorp said it expects to
restate its results for 1986 to a loss of about one mln dlrs
due to a reclassification of loans recommended by auditor Ernst
and Whinney.
The company said the restatement also reflects a
substantial increase in reserves of its principal subsidiary,
Capitol Bank and T... | Other |
U.S. SOY PRODUCERS THINK EC OILS TAX UNLIKELY
| American soybean producers are
confident the proposed European Community (EC) tax on vegetable
oils and fats will be rejected but are leaving nothing to
chance, American Soybean Association (ASA) president-elect
Wayne Bennett said.
Bennett, who is leading one of three soybean producer
delegations on a... | Corporate News |
SWEDISH UNEMPLOYMENT DOWN AS DATA IS REVISED
| A new method of calculating Sweden's
unemployment figures reduced the number of jobless by a sixth,
a spokesman for the Central Bureau of Statistics (SCB) said,
reporting a substantial drop in the past year.
According to the revised data there were 94,000 jobless in
February representing 2.2 pct of the ... | Corporate News |
ECONOMIC SPOTLIGHT - EMS MARKS EIGHTH BIRTHDAY
| The European Monetary System marks its
eighth anniversary still vulnerable to turmoil in world money
markets despite creating an island of currency rate stability
in Europe, economists say. But many economists say the system,
which holds eight European Community currencies within narrow
fluctuation bands, r... | Corporate News |
INTERMAGNETICS GENERAL <INMA> COMPLETES BUY
| Intermagnetics General Corp
said it completed the purchase of the advanced products
department of Air Products and Chemicals Inc <APD>.
Terms were not disclosed.
The department, which makes cryogenic equipment, will
continue operating at its present location in Allentown, Pa.,
the company said.... | Corporate News |
ITALY'S FERRUZZI TAKES OVER SPANISH MILL
| Italy's Ferruzzi SpA has taken a 67 pct
stake in Spanish sunflower seed and cotton mill Cooperativa
Agricola del Guadalete SA (GUADALCO), sources at GUADALCO said.
The Italian firm's Spanish subsidiary, Ferruzzi Espana SA,
took the majority equity stake, with the remaining 33 pct
retained by GUADALCO.
... | Corporate News |
CCC ACCEPTS BID FOR DAIRY CATTLE TO KUWAIT
| The Commodity Credit Corporation
(CCC) has accepted a bid for an export bonus to cover the sale
of 380 head of dairy cattle to Kuwait, the U.S. Agriculture
Department said.
The dairy cattle are for shipment on or before May 31,
1987, it said.
The bonus of 1,465.00 dlrs per head was made to America... | Financial Reports |
<AMERICAN HOECHST CORP> YEAR NET
| Net 38 mln vs 5.7 mln
Revs 1.71 billion vs 1.69 billion
NOTE: Fully owned subsidiary of Hoechst AG.
| Corporate News |
FED EXPECTED TO SET CUSTOMER REPURCHASES
| The Federal Reserve is expected to
intervene in the government securities market to add reserves
via two to 2.5 billion dlrs of customer repurchase agreements,
economists said.
Economists said the Fed will inject temporary reserves
indirectly to offset pressure on the Federal funds rate
associated wit... | Commodities and Trade |
LEVITT CORP <LVT> 4TH QTR NET
| Oper shr 42 cts vs 11 cts
Oper net 1,433,000 vs 382,000
Revs 38.6 mln vs 20.1 mln
Year
Oper shr 60 cts vs 49 cts
Oper net 2,033,000 vs 1,682,000
Revs 90.4 mln vs 73.0 mln
NOTE: 1985 4th qtr and year excludes extraordinary credit
of 349,000 dlrs or 11 cts per share.
| Corporate News |
EEP SHOULD BE USED TACTICALLY, YEUTTER SAYS
| U.S. Trade Representative Clayton
Yeutter said the Export Enhancement Program, EEP, should be
used as a "tactical tool" and not as a general policy.
Yeutter made the comment in response to a question whether
the U.S. should expand the EEP to cover grain sales to the
Soviet Union.
He did not commen... | Commodities and Trade |
NATIONAL PIZZA <PIZA> CORRECTS FIGURE
| National Pizza Co said the
seven Straw Hat Piza restaurants in Los Angeles and
Bakersfield, Calif., that it announced plans to buy Friday are
expected to generate annual sales of about 3,800,000 dlrs, not
the eight mln dlrs the company originally announced.
The company said it will convert the restauran... | Commodities and Trade |
BENGUET CORP <BE> CALENDAR 1986
| Net income 154.7 mln pesos vs 127.5 mln
Operating revenues 4.42 billion vs 3.3 billion
Operating profit 621.2 mln vs 203.4 mln
Earnings per share 4.80 vs 3.95
NOTE: Company statement said gold operations contributed 74
pct of consolidated earnings.
| Financial Reports |
TBG HOLDINGS N.V. <TGBN.AS> 1986 YEAR NET
| Net profit 34 mln dlrs vs 43 mln dlrs.
Turnover 1.82 billion dlrs vs 1.83 billion.
NOTE: Company lowered to nine pct from 13.5 pct interest
rate on outstanding subordinated loan for period august 1,
1987, to July 31, 1988.
TBG, formerly known as <Thyssen-Bornemisza Group>, reports
in dlrs s... | Financial Reports |
AVAQ INTERNATIONAL TO SEEK COMMITMENT ON DEAL
| <AVAQ International Inc> said it
intends to require Gates Learjet Corp <GLJ> to honor its
agreement to sell its shares to the company.
AVAQ said it made the statement in response to an offer by
<Interconnect Capital Corp> for all of Gates Learjet shares
after what it believed to be an agreement... | Financial Reports |
SPAIN TO RELAX EXCHANGE CONTROLS
| The Bank of Spain is relaxing exchange
controls to help put Spanish banks on an equal footing with
European Community competitors by the 1993 deadline for the
ending of restrictions, a central bank spokesman said.
"The measures to take effect by June were designed to lift
restrictions on foreign currenc... | Other |
STANDARD PRODUCTS CO <STD> RAISES QUARTERLY
| Qtly div 20 cts vs 16 cts prior
Pay April 24
Record April 10
| Other |
AARON SPELLING PRODUCTIONS INC <SP> 2ND QTR NET
| Jan 31 end
Shr 31 cts vs 44 cts
Net 5,705,000 vs 8,101,000
Revs 50.6 mln vs 67.2 mln
1st half
Shr 63 cts vs 71 cts
Net 11.6 mln vs 13.2 mln
Revs 80.9 mln vs 105.2 mln
NOTE: Current half net includes 750,000 dlr charge from
reorganization.
| Financial Reports |
COOPER LASERSONICS INC <ZAPS> 1ST QTR LOSS
| Period ended January 31.
Shr loss 22 cts vs profit one ct
Net loss 4,700,000 vs profit 150,000
Sales 15.0 mln vs 16.7 mln
Avg shrs 21,538,000 vs 19,259,000
Note: Prior qtr figures include gain of 1.1 mln dlrs, or
six cts per share, from discontinued operations.
| Financial Reports |
DIVERSIFIED INDUSTRIES <DEI> 1ST QTR OPER NET
| Period ended Jan 31
Oper shr two cts vs eight cts
Oper net 96,000 vs 449,000
Sales 37.6 mln vs 35.8 mln
Avg shrs 5,317,900 vs 5,689,277
NOTE: Full name is Diversified Industries Inc
Earnings exclude gains from utilization of tax loss
carryforwards of 62,000 dlrs, or one ct a shar... | Financial Reports |
HOECHST CELANESE SETS EXPANSION PROGRAM
| Hoechst AG's <HFAG.F> U.S. unit,
Hoechst Celanese Corp, said it has begun projects that will
cost more than 150 mln dlrs.
The unit was formed last month when Hoechst completed the
acquisition of Celanese for 2.84 billion dlrs.
The company said it will expand its Sanwet super absorbent
polymers ... | Corporate News |
GOLDEN NUGGET INC <GNG> 4TH QTR LOSS
| Oper shr loss 20 cts vs loss 19 cts
Oper net loss 7,001,000 vs loss 6,761,000
Revs 93.0 mln vs 90.6 mln
Avg shrs 35.2 mln vs 34.8 mln
Year
Oper shr profit 10 cts vs profit 65 cts
Oper net profit 3,419,000 vs profit 22.6 mln
Revs 381.7 mln vs 385.0 mln
Avg shrs 33.8 mln ... | Corporate News |
OPPENHEIMER INDUSTRIES <OPP> SEES YEAR LOSS
| Oppenheimer Industries Inc said it
expects to report a loss for the year ended January 31 of about
980,000 dlrs, compared with a profit of 211,074 dlrs a year
before.
The company blamed the loss on the continuing depression in
agriculture, the discontinuance of several programs due to the
passage if t... | Financial Reports |
LUBY'S CAFETERIAS INC <LUB> 2ND QTR FEB 28 NET
| Shr 31 cts vs 26 cts
Net 5,645,000 vs 4,737,000
Sales 55.2 mln vs 50.6 mln
1st half
Shr 60 cts vs 53 cts
Net 10.9 mln vs 9,659,000
Sales 110.4 mln vs 102.2 mln
NOTE: Current year net both periods includes 474,000 dlr
gain from land sale.
Share adjusted for three-for-t... | Commodities and Trade |
TESCO FORECASTS PROFITS RISE THIS YEAR
| Tesco Plc <TSCO.L> said in a statement
it expects pre-tax profits of 166 mln stg for the year ending
February 28, 1987, before nine mln stg of net property profits.
This compares with 122.9 mln stg pretax profits and a net 8.1
mln on property sales the previous year. It said the forecast
was in its forma... | Financial Reports |
UNOCAL <UCL> UNIT CUTS CRUDE OIL POSTED PRICES
| Unocal Corp's Union Oil Co said it
lowered its posted prices for crude oil one to 1.50 dlrs a
barrel in the eastern region of the U.S., effective Feb 26.
Union said a 1.50 dlrs cut brings its posted price for the
U.S. benchmark grade, West Texas Intermediate, to 16 dlrs.
Louisiana Sweet also was lowered... | Financial Reports |
BUSINESS COMPUTER <BCSI> HAD 4TH QUARTER PROFIT
| Business Computer Solutions Inc said it
expects to report a profit for the fourth quarter ended
February 28 -- its first quarterly profit ever -- of about
175,000 dlrs on revenues of about 750,000 dlrs.
A year before, it lost 217,852 dlrs on sales of 469,274
dlrs. The company attributed the improved re... | Financial Reports |
FED SAYS IT SETS THREE-DAY SYSTEM REPURCHASE AGREEMENTS
|
FED SAYS IT SETS THREE-DAY SYSTEM REPURCHASE AGREEMENTS
| Financial Reports |
MIM TO ACQUIRE STAKE IN GERMAN COPPER PRODUCER
| Mount Isa Mines Holding Ltd plans to
acquire a 30 pct stake in Europe's largest primary copper
producer, Norddeutsche Affinerie AG, a spokesman for
Metallgesellschaft AG said.
MIM intends to take Preussag AG's total 20 pct share in the
copper producer in exchange for some three pct of MIM's share
capi... | Financial Reports |
J.W. MAYS INC <MAYS> 2ND QTR JAN 31 NET
| Shr 2.27 dlrs vs 74 cts
Net 4,945,989 vs 1,612,624
Revs 28.2 mln vs 27.9 mln
Six mths
Shr 1.57 dlrs vs three cts
Net 3,417,659 vs 73,614
Revs 47.0 mln vs 46.8 mln
NOTE: Current periods include pretax gain of 4.3 mln dlrs
from sale of leasehold of Glen Oaks store in Queens, ... | Financial Reports |
CIRCUS CIRCUS ENTERPRISES <CIR> 4TH QTR NET
| Oper shr 16 cts vs 14 cts
Oper net 5,818,000 vs 5,284,000
Revs 88.2 mln vs 69.7 mln
Year
Oper shr 96 cts vs one dlr
Oper net 36,101,000 vs 37,375,000
Revs 374.0 mln vs 307.0 mln
Note: Current qtr and year figures exclude extraordinary
losses on early debt retirement of 1.7 ... | Financial Reports |
FED ADDS RESERVES VIA THREE-DAY REPURCHASES
| The Federal Reserve entered the U.S.
Government securities market to arrange three-day System
repurchase agreements, a Fed spokesman said.
Dealers said that Federal funds were trading at 6-1/4 pct
when the Fed began its temporary and direct supply of reserves
to the banking system.
| Financial Reports |
PANHANDLE'S <PEL> TRUNKLINE REDUCES GAS RATES
| Panhandle Eastern Corp's Trunkline Gas
Co pipeline subsidiary said it is reducing the commodity
component of its wholesale natural gas rate four pct, effective
immediately.
In a filing with the Federal Energy Regulatory Commission,
Trunkline said, it is reducing its commodity rate -- the
portion of th... | Commodities and Trade |
NATIONAL FUEL GAS CO <NFG> SETS MAIL DATE
| National Fuel Gas Co said its mail
date for its previously-announced two-for-one stock split is
June 19, 1987.
The company, which announced the split last week, had said
the record date for the split is May 29, 1987.
| Corporate News |
COMTECH <CMTL> TO SELL PREMIER MICROWAVE
| Comtech Inc said it agreed in
principle to sell 95 pct of its outstanding shares in Premier
Microwave Corp for seven mln dlrs.
It said the buyers include an investment group composed of
the unit's management.
The company said it expects the sale to close in the next
few weeks. Proceeds will be use... | Corporate News |
INVESTMENT FIRMS HAVE 5.9 PCT OF PUROLATOR <PCC>
| A group of affiliated New York-base
investment firms and funds told the Securities and Exchange
Commission they have acquired 453,300 shares of Purolator
Courier Corp, or 5.9 pct of the total outstanding.
The group, led by Mutual Shares Corp, said it bought the
stock for investment purposes.
It al... | Financial Reports |
TOFUTTI BRANDS <TOF> SEES PROFIT FOR NEW YEAR
| Tofutti Brands Inc said it is
changing its fiscal year to a calendar year from a year ending
July 31, and it expects to be profitable on higher sales in
1987.
The company lost 658,000 dlrs on sales of 11.6 mln dlrs in
the year ended July 31. A company spokesman said Tofutti will
be reporting earnings... | Financial Reports |
DIGITECH INC <DGTC> 1ST QTR JAN 31 NET
| Shr two cts vs eight cts
Net 270,000 vs 1,212,000
Revs 1,858,000 vs 1,420,000
Avg shrs 16,817,618 vs 12,507,671
| Financial Reports |
UNION VOTES TO STRIKE DAKOTA CITY IBP PLANT
| Members of the United Food and
Commercial Workers union, UFCW, local 222 voted Sunday to go on
strike against Iowa Beef Processors Inc Dakota City, Nebraska,
plant, effective Tuesday.
The company submitted their latest offer to the union at
the same time announcing that they would end the lockout as of
... | Corporate News |
BELGIUM REVISES DOWN 1987 GNP GROWTH FORECASTS
| The Belgian government has lowered its
forecast for the nominal increase in gross national product in
1987 to 3.5 pct from an originally forecast 3.9 pct, Prime
Minister Wilfried Martens said in a statement to parliament.
He said this revision, which brings government forecasts
more closely into line wi... | Financial Reports |
INVESTOR GROUP HAS TALKS WITH PESCH ON AMI <AMI>
| WEDGE Group Inc, a Houston investment
firm with a 5.5 pct stake in American Medical International
Inc, said it has had talks with Pesch and Co, which is seeking
control of the company.
In a filing with the Securities and Exchange Commission,
WEDGE, which is owned by Issam Fares, a Lebanese citizen livin... | Corporate News |
CABOT MEDICAL CORP <CBOT> 1ST QTR JAN 31 NET
| Shr four cts vs two cts
Net 240,902 vs 106,054
Revs 3,408,481 vs 2,566,769
| Financial Reports |
AMERIHEALTH INC <AHTH> 4TH QTR LOSS
| Oper shr loss one ct vs loss 11 cts
Oper net profit 89,000 vs loss 323,000
Revs 9,603,000 vs 6,116,000
Year
Oper shr loss six cts vs loss 21 cts
Oper net profit 158,000 vs loss 629,000
Revs 34.6 mln vs 22.8 mln
NOTE: 1986 net excludes tax credits of 170,000 dlrs in
quarter ... | Corporate News |
BANKS SEE GERMAN GROWTH OF AT LEAST TWO PCT
| External risks for the economy have
increased, but growth of two to 2.5 pct this year is still
possible, according to President of the West German Federation
of Banks, Hanns Christian Schroeder-Hohenwarth.
Schroeder-Hohenwarth told a news conference the further
fall of the dollar since the start of this... | Industrial and Sector News |
CAMBRIDGE ANALYTICAL <CAAN> SEES FIRST QTR LOSS
| Cambridge Analytical Associates Inc said
it expects to incur a loss for the first quarter of fiscal 1987
equal to or greater than its loss of 240,697 dlrs for the
fourth quarter ended December 31, 1986.
Cambridge said it expects revenues for the first quarter to
be approximately the same as those record... | Corporate News |
SETON <SEL> GETS BUYOUT OFFER FROM CHAIRMAN
| Seton Co said its board has
received a proposal from chairman and chief executive officer
Philip D. Kaltenbacher to acquire Seton for 15.75 dlrs per
share in cash.
Seton said the acquisition bid is subject to Kaltenbacher
arranging the necessary financing. It said he intends to ask
other members of s... | Financial Reports |
MRS FIELDS PLANS TO OPEN MORE STORES
| U.S. Based speciality food retailer <Mrs
Fields Inc>, which earlier announced pre-tax profits of 17.1
mln dlrs in 1986 against 6.8 mln in 1985, said it plans further
growth this year with the opening of 125 new stores in the U.S.
The company, which is quoted on London's Unlisted
Securities Market (US... | Financial Reports |
BRAZIL SAYS DEBT CRISIS IS WORLD PROBLEM
| Brazilian Finance Minister
Dilson Funaro said his country's foreign debt crisis could only
be solved by changes in the international financial system.
Speaking to a business conference he said "It is not Brazil
that has to make adjustments with the IMF (International
Monetary Fund). It is the internatio... | Other |
I.M.S. INTERNATIONAL INC <IMSI> SETS QUARTERLY
| Qtly div four cts vs four cts prior
Pay March 27
Record March 13
| Financial Reports |
U.S. INDUSTRIAL CAPACITY USE RATE ROSE TO 79.8 PCT IN FEB FROM 79.6 PCT IN JAN
|
U.S. INDUSTRIAL CAPACITY USE RATE ROSE TO 79.8 PCT IN FEB FROM 79.6 PCT IN JAN
| Financial Reports |
BIOTECHNOLOGY DEVELOPMENT <BIOD> 4TH QTR LOSS
| Shr loss five cts vs loss 17 cts
Net loss 154,654 vs loss 419,606
Revs 517,699 vs 374,108
Year
Shr loss 28 cts vs loss 56 cts
Net loss 821,979 vs loss 1,368,591
Revs 1,650,657 vs 1,285,473
| Financial Reports |
HECHINGER CO <HECH> 4TH QTR NET
| Shr primary 28 cts vs 22 cts
Shr diluted 26 cts vs 21 cts
Net 8,637,000 vs 6,577,000
Sales 140.3 mln vs 116.8 mln
Year
Shr primary 92 cts vs 77 cts
Shr diluted 88 cts vs 75 cts
Net 28.3 mln vs 23.1 mln
Sales 588.4 mln vs 479 mln
| Financial Reports |
METEX <MTX> CHAIRMAN SELLS SHARES
| Metex Corp said its chairman and
chief executive officer Alan Cohen sold 78,375 shares of Metex
common stock to Metropolitan Consolidated Industries Inc
<MONY>.
The company said the selling price was 11.25 dlrs per share
with an option for Metropolitan Consolidated Industries to
purchase up to 42,7... | Financial Reports |
AROUND 3.5 MLN ACRES SAID TO BE IDLED BY 0/92
| A 0/92 program would have very
little impact on U.S. acreage, prompting farmers to idle only
an additional 3.5 mln acres of cropland every year, according
to a report from the Agriculture Department.
The savings resulting from the additional 3.5 mln acres
idled would be a little over 400 mln dlrs in loa... | Commodities and Trade |
AMERICAN SECURITY <ASEC> TO RELEASE INFORMATION
| American Security Corp said a
release will be forthcoming shortly regarding its pending
merger with Maryland National Corp <MDNT>, approved by its
stockholders October 10.
American was halted on NASDAQ pending a news announcement.
| Corporate News |
BANNER <BNR> COMPLETES TENDER FOR REXNORD <REX>
| Banner Industries Inc said 19.8 mln of
the outstanding 20 mln shares in Rexnord Inc were tendered
pursuant to its 26.25 dlr a share offer that closed at midnight
EST Feb 27.
Together with the five mln Rexnard shares it already owns,
the company said it now holds a 97 pct stake in the company.
It s... | Financial Reports |
SVENSKA CELLULOSA AB <SCAB.ST> 1986 YEAR
| Group profit after net financial items 1.39 billion crowns
vs 1.32 billion
Sales 15.22 billion crowns vs 12.61 billion
Profit per share 20.50 crowns vs 19.60
Proposed dividend five crowns vs 4.40
| Financial Reports |
COLOMBIA COFFEE EXPORTERS BELIEVE IN PRAGMATISM
| Private coffee exporters say Colombia's
more pragmatic coffee marketing policy will ensure that the
country does not suffer excessively from current depressed
prices and erratic market conditions.
Gilberto Arango, president of the exporters' association,
said in an interview that Colombia, the world's s... | Corporate News |
BELGIAN GOVERNMENT TO CUT FINANCIAL REQUIREMENT
| Belgian Prime Minister Wilfried
Martens announced to Parliament a plan to reduce the 1987
government financing requirement by 20.6 billion francs.
He said this will enable the requirement to be held to
419.7 billion francs, against the previous government target of
417.8 billion, or eight pct of gross n... | Corporate News |
ROYAL TRUST PLOTS AGGRESSIVE GLOBAL EXPANSION
| <Royal Trustco Ltd>, in a move unique
among Canadian trust companies, is pursuing a bold global
expansion that could someday lift the foreign share of its
yearly earnings to 50 pct, president Michael Cornelissen said.
First Marathon Securities Ltd financial services analyst
Michael Walsh said Royal T... | Financial Reports |
SALOMON RAISES CATERPILLAR <CAT> OPINION
| Salomon Brothers Inc said it raised
its opinion on Caterpillar Inc's stock to an aggressive buy
from a hold because of a brighter earnings outlook for 1988.
Salomon analyst David Sutliff said in a statement he sees
1988 earnings of 3.35 dlrs a share, up from an earlier forecast
of three dlrs for the yea... | Corporate News |
ROCKWOOD HOLDING CO <RKWD> 4TH QTR NET
| Shr profit 78 cts vs loss 38 cts
Net profit 3,108,000 vs loss 1,510,000
Revs 35.5 mln vs 47.1 mln
Year
Shr profit 2.42 dlrs vs loss 2.01 dlrs
Net profit 9.6 mln vs loss eight mln
Revs 157.2 mln vs 182.2 mln
NOTE: Includes extraordinary gains of 22 cts per share and
36 cts i... | Financial Reports |
CANADA PRIME MINISTER SAYS A MAJOR TRADE DEAL EMERGING WITH U.S.
|
CANADA PRIME MINISTER SAYS A MAJOR TRADE DEAL EMERGING WITH U.S.
| Commodities and Trade |
FORUM <FOUR> ENDS BEVERLY <BEV> PURCHASE DEAL
| Forum Group Inc said it has
terminated its agreement in principle to buy eight retirement
living centers in six states from Beverly Enterprises due to a
failure to reach a satisfacotry definitive agreement.
| Market and Economy |
MUTUAL OF OMAHA INTEREST SHARES <MUO> QTLY DIV
| Qtly div 36 cts vs 36 cts prior
Pay April one
Record March 13
| Financial Reports |
SOME 7,000 MINERS GO ON STRIKE IN SOUTH AFRICA
| Some 7,000 black miners went on
strike at South African gold and coal mines, the National Union
of Mineworkers (NUM) said.
A NUM spokesman said 6,000 workers began an underground
sit-in at the Grootvlei gold mine, owned by General Union
Mining Corp, to protest the transfer of colleagues to different
j... | Financial Reports |
FBX CORP <FBXC> YEAR NOV 30 NET
| Shr 11 cts vs three cts
Net 313,000 vs 80,000
Revs 12.5 mln vs 11.3 mln
| Corporate News |
U.S. CAPACITY USE RATE 79.8 PCT IN FEBRUARY
| U.S. factories, mines and utilities
operated at 79.8 pct of capacity in February, compared with a
revised 79.6 pct in January and December, the Federal reserve
Board said.
The Fed previously said the rate was 79.7 pct in January
and 79.5 pct in December.
A surge in automobile assemblies in Februar... | Financial Reports |
UNION VOTES TO STRIKE DAKOTA CITY IBP PLANT
| The United Food and Commercial Workers
union, Local 222 said its members voted Sunday to strike the
Iowa Beef Processors Inc Dakota City, Neb., plant, effective
Tuesday.
The company said it submitted its latest offer to the union
at the same time announcing that on Tuesday it would end a
lockout that ... | Corporate News |
Balladur maintains 1987 2.5 pct inflation target after February 3.4 pct year-on-year
|
Balladur maintains 1987 2.5 pct inflation target after February 3.4 pct year-on-year
| Financial Reports |
CSCE TO PUT ADDITIONAL MARGIN ON JULY COCOA
| A 250 dlr spot charge will be added to
the New York cocoa futures, July delivery, contract starting
Wednesday, March 18, the Coffee, Sugar and Cocoa Exchange said.
The March delivery ceases trading March 17, making May and
July the two nearby unlimited positions. Previously, March and
May were unlimited... | Corporate News |
<COOPER CANADA LTD> YEAR NET
| Shr 23 cts vs 42 cts
Net 1,387,000 vs 2,532,000
Revs 80.5 mln vs 82.6 mln
| Financial Reports |
TAB PRODUCTS CO <TBP> 3RD QTR FEB 28 NET
| Shr 27 cts vs 22 cts
Net 1,866,000 vs 1,476,000
Revs 33.0 mln vs 30.3 mln
Nine Mths
Shr 71 cts vs 57 cts
Net 4,828,000 vs 3,857,000
Revs 92.0 mln vs 89.0 mln
| Corporate News |
MARKEL CORP <MAKL> 4TH QTR NET
| Shr 32 cts vs 18 cts
Net 1,200,466 vs 545,670
Revs 8.2 mln vs 6.4 mln
Year
Shr 1.52 dlrs vs 27 cts
Net 4,972,683 vs 1,046,460
Revs 33.3 mln vs 23 mln
| Financial Reports |
SCIENCE ACCESSORIES CORP <SEAS> 1ST QTR NET
| Qtr ends Jan 31
Shr two cts vs two cts
Net 78,537 vs 72,364
Revs 626,942 vs 640,030
| Corporate News |
French adjusted February trade deficit 400 mln francs vs January deficit 2.5 billion
|
French adjusted February trade deficit 400 mln francs vs January deficit 2.5 billion
| Corporate News |
BIFFEX MEMBERS TO BALLOT ON MERGER
| Members of the Baltic International
Freight Futures Exchange (BIFFEX) are to be balloted at the end
of this week on whether it will merge with the London Commodity
Exchange or come under a new umbrella of Baltic futures
exchanges, a BIFFEX official said.
The final decision will be left with the BIFFEX b... | Other |
CORRECTED - BANKAMERICA NEGOTIATING UNITS SALE
| Bank of America NT and SA's <BAC.N>
West German branch said it is negotiating the sale of Bankhaus
Centrale Credit AG, a small local West German bank it acquired
in 1965, and of its West German Visa credit card operation.
Michael Seibel, Bank of America vice-president and regional
manager, said the n... | Financial Reports |
MACHINE TECHNOLOGY <MTEC> SEES 2ND QTR LOSS
| Machine Technology Inc said it
expects to report a second quarter loss of 13 to 17 cts per
share on sales of about 4,400,000 dlrs.
A year earlier, it lost 139,000 dlrs or three cts per share
on sales of 4,271,000 dlrs.
The company said it booked over six mln dlrs in the quarter
and its backlog has... | Corporate News |
DOCUGRAPHIX INC <DOCX> 3RD QTR JAN 31 LOSS
| Shr loss six cts vs loss 18 cts
Net loss 31,896 vs loss 753,518
Revs 840,075 vs 716,361
Avg shrs 5.45 mln vs 4.17 mln
Nine mths
Shr loss 25 cts vs loss 55 cts
Net loss 1,271,972 vs loss 2,115,662
Revs 2,071,676 vs 1,933,562
Avg shrs 5.02 mln vs 3.85 mln
| Financial Reports |
NBD BANCORP <NBD> REGULAR DIVIDEND SET
| Qtly div 30 cts vs 30 cts previously
Pay May 11
Record April Nine
| Financial Reports |
TRIANGLE MICROWAVE <TRMW> IN TALKS ON BUYOUT
| Triangle Microwave Inc said
it is involved in talks on its possible purchase by a
"substantial U.S. company" it did not identify.
Triangle said no agreement has yet been reached and there
can be no assurance that one will be reached. Any acquisitioon
would be subject to approval by its shareholders and ... | Financial Reports |
YEUTTER REPEATS RETALIATION THREAT ON EC OIL TAX
| U.S. Trade Representative Clayton
Yeutter said the United States will retaliate if the European
Community adopts a proposed tax on vegetable oils, but he did
not say what EC products would be singled-out for reprisal.
Speaking to the National Grain and Feed Association (NGFA)
convention here, Yeutter sa... | Financial Reports |
CANADA'S MULRONEY SAYS U.S. TRADE DEAL NEARS
| Prime Minister Brian Mulroney said
"significant progress" was being made in trade talks with the
United States and a profile of a major deal was emerging.
Opening a debate on free trade in the House of Commons,
Mulroney said an accord would create thousands of jobs in
Canada and bring greater economic p... | Corporate News |
FRANCE REDUCES TRADE DEFICIT IN FEBRUARY
| France posted a seasonally adjusted trade
deficit of 400 mln francs in February after a 2.5 billion franc
deficit in January, the Finance Ministry said.
For the first two months of this year the trade deficit, on
a seasonally adjusted basis, was 2.9 billion francs.
Unadjusted, the February deficit w... | Other |
OSR <OSRC> TO MAKE ACQUISITION
| OSR Corp said it has agreed
to acquire the properties and assets of Telcom International
Group for 10.5 mln common shares, which would give former
Telcom owners an 84 pct interest in the combined company.
Telcom is an international film and television distributor.
The assets being acquired consist most... | Corporate News |
NCR <NCR> SEES GOOD CHANCE FOR RECORD YEAR NET
| NCR Corp is very optimistic that it will
post record revenues and profits for 1987, Charles E. Exley Jr,
chairman and president, said.
"Much of our considerable optimism about the future is
based on the strength of a continuing flow of new products,"
Exley told a meeting of securities analysts. "Our cur... | Corporate News |
EQUITABLE BANC <EBNC> BOSS HAS AMERITRUST STAKE
| A group controlled by Equitable
Bancorp Chairman Alfred Lerner said it has acquired a 9.6 pct
stake in AmeriTrust Corp <AMTR> and may buy up to 24.9 pct if
obtains regulatory approval.
In a filing with the Securities and Exchange Commission,
the group said it bought its stake of 2.0 mln Ameritrust co... | Corporate News |
AMERICAN SECURITY <ASEC> BUYOUT COMPLETED
| Maryland National Corp <MDNT> said it
has completed the acquisition of American Security Corp in an
exchange of 0.81 Maryland share for each of American's 12 mln
shares outstanding.
The company said the mandatory 30-day review by the U.S.
Justice Department was completed today.
Maryland Nationa... | Corporate News |
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