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GAC LIQUIDATING TRUST <GACTZ> YEAR NET
| Shr 1.05 dlrs vs 27 cts
Net 4,193,000 vs 1,070,000
Revs 9,377,000 vs 9,444,000
NOTE: 1986 net includes gain two mln dlrs from reduction of
loss allowance on undeveloped land.
| Other |
INVESTOR HAS 8.0 PCT OF ALLEGHENY INT'L <AG>
| A group of firms and funds
controlled by New York investor Mario Gabelli said it has
acquired the equivalent of 882,507 shares of Allegheny
International, or 8.0 pct of the total outstanding.
In a filing with the Securities and Exchange Commission,
the Gabelli group said it bought the stake as part of i... | Financial Reports |
U.S. CORPORATE FINANCE - NEW ZEALAND DLR FRNS
| Floating-rate notes denominated in a
foreign currency, a relatively new wrinkle on Wall Street, will
probably be issued infrequently because the so-called "window
of opportunity" opens and closes quickly, traders say.
"In just two days we had as many issues. As a result, the
market became glutted," said... | Other |
YUGOSLAVIA WHEAT FREE OF WINTERKILL - USDA
| There was no evidence of winterkill
in Yugoslavian winter wheat during field travel along a line
running northwest from Belgrade to near Maribor, the U.S.
Agriculture Department's counselor in Belgrade said in a field
report.
The report, dated February 26, said there is evidence of
delayed germination... | Corporate News |
<CLAYTON AND DUBILIER INC> SELLS BURPEE
| Privately-held Clayton and Dubilier
Inc said it has sold W. Atlee Burpee Co to a new company formed
by Wicks Capital Corp, Bankers Trust New York Corp <BT> aND
Burpee management for undisclosed terms.
The garden supply company was acquired from ITT Corp <ITT>
in December along with O.M. Scott and ... | Financial Reports |
GCA CORP <GCA> YEAR
| Shr loss 1.77 dlrs vs loss 10.47 dlrs
Net loss 24.9 mln vs loss 123.1 mln
Revs 123.1 mln vs 156.5 mln
NOTE:1985 loss includes loss of 51.2 mln dlrs from
discontinued operations. 1986 loss includes gain of 6.8 mln
dlrs from discontinued operations.
| Corporate News |
DOW <DOW> SEES RECORD ANNUAL PROFITS IN 1987
| Dow Chemical Co believes strong margins
for chemical products could result in record earnings this
year, Chairman Paul Oreffice said.
"I'm hoping we will have the best year in our history
profit-wise," he told reporters following a speech at The
American Institute of Chemical Engineers meeting.
"I... | Financial Reports |
CHEROKEE GROUP <CHKE> 1ST QTR FEB 28 NET
| Shr 22 cts vs 16 cts
Net 2,460,000 vs 1,730,000
Sales 37.0 mln vs 27.3 mln
Per share figures adjusted for two-for-one stock split of
February 1987.
| Financial Reports |
CRUDE OIL NETBACKS UP IN U.S., MEDITERRANEAN
| Crude oil netback values in complex
refineries rose slightly in the U.S. and the Mediterranean
last Friday from the previous week but were lower elsewhere,
according to calculations by Reuters Pipeline.
The soft tone to refining margins reflects large worldwide
stocks of petroleum products and thin tra... | Financial Reports |
INVESTOR GROUP HAS CIRCLE EXPRESS <CEXX> STAKE
| An investor group controlled by New
York Investor David Rocker told the Securities and Exchange
Commission it has acquired 291,400 shares of Circle Express
Inc, or 6.1 pct of the total outstanding common stock.
The group, Rocker Partners Ltd and Compass Investments Ltd,
said it bought the stake for inve... | Financial Reports |
FRENCH 1986/87 SOFT WHEAT EXPORTS FALL
| Exports of French soft wheat for the
period July 1, 1986, to March 1, 1987, fell 27.6 pct to 8.21
mln tonnes from 11.34 mln tonnes in the same 1985/86 period,
the national cereals office ONIC said quoting customs figures.
Of this total, exports to non-EC countries totalled 3.76
mln tonnes, 34 pct down o... | Other |
IBC EXPECTED TO MAINTAIN COFFEE EXPORT FORMULA
| The Brazilian Coffee Institute,
IBC, is expected to maintain its previous pricing system when
it reopens export registrations, probably later this week,
exporters said.
They said IBC President Jorio Dauster is likely to leave
the basic formula for the minimum registration price unchanged
but raise the... | Financial Reports |
AUSIMONT COMPO NV <AUS> 4TH QTR NET
| Shr 42 cts vs 39 cts
Net 12.3 mln vs 9,382,000
Sales 172.0 mln vs 146.00 mln
Avg shrs 29.5 mln vs 24.3 mln
Year
Shr 1.63 dlrs vs 1.35 dlrs
Net 45.7 mln vs 30.0 mln
Sales 665.5 mln vs 446.2 mln
Avg shrs 28.0 mln vs 22.3 mln
NOTE: translated at 1,339 Italian lire to... | Financial Reports |
<VISTA MANAGEMENT INC> TO MAKE ACQUISITION
| Vista Management Inc said it has
agreed to acquire General Energy Development Inc for over
2,200,000 dlrs in cash, with financing to come from mortgage
loans on the National Auto Service Centers General Energy
operates.
| Financial Reports |
GOLDEN POULTRY <CHIK> TO MAKE ACQUISITION
| golden Poultry Co Inc said it has
signed a letter of intent to purchase privately-held food
distributor Don Lowe Foods Inc of Pompano Beach, Fla., for
undisclosed terms, subject to approval by both boards.
It said Tampa operations of Lowe are not involved in the
sale.
| Financial Reports |
WILLCOX AND GIBBS <WG> TO MAKE ACQUISITION
| Willcox and Gibbs Inc said it has
agreed to acquire Atlantia electric parts distributor B and W
Electric Supply Co for an undisclosed amount of cash.
B and W had sales of about eight mln dlrs in its most
recent year.
Willcox said it plans further expansion in the Atlanta area.
| Financial Reports |
MISCHER CORP <MSHR> 4TH QTR LOSS
| Shr loss 67 cts vs profit 60 cts
Net loss 1,398,000 vs profit 1,250,000
Revs 8,834,000 vs 20.9 mln
Year
Shr loss 2.81 dlrs vs loss 15 cts
Net loss 5,864,000 vs loss 310,000
Revs 52.1 mln vs 82.7 mln
| Other |
WICHITA INDUSTRIES INC <WRO> 4TH QTR NET
| Shr profit 32 cts vs profit eight cts
Net profit 936,000 vs profit 249,000
Revs 348,000 vs 1,150,000
Year
Shr loss 2.15 dlrs vs loss 19 cts
Net loss 6,095,000 vs loss 469,000
Revs 1,554,000 vs 4,254,000
NOTE: Results include credits of 556,000 and 1,141,000 for
the latest q... | Commodities and Trade |
INFODATA SYSTEMS INC <INFD> 4TH QTR NET
| Shr profit 20 cts vs loss 33 cts
Net profit 376,470 vs loss 1,555,469
Revs 3,615,550 vs 2,896,000
Year
Shr profit 14 cts vs loss 66 cts
Net profit 382,014 vs loss 1,128,160
Revs 11.2 mln vs 11.0 mln
| Financial Reports |
CITY RESOURCES <CCIMF> TO SELL PROPERTY STAKE
| City Resources Ltd said it has agreed
in principle to sell a 50 pct interest in a group of mineral
properties in the southwest Pacific to a buyer it did not name
for 30 mln Canadian dlrs.
The company said a preliminary estimate of the geological
resources of one of the properties to a depth of 200 meter... | Financial Reports |
HUGHES SUPPLY <HUG> TO MAKE ACQUISITION
| Hughes Supply Inc said it has
signed a letter of intent to acquire most of the assets of Tri
State Supply Inc, a wholesale distributor of electrinical
fixtures and supplies with sales for the year ending tomorrow
of about 13 mln dlrs.
Terms were not disclosed.
It said clopsing is expected around A... | Financial Reports |
JMB REALTY TRUST <JMBRS> 2ND QTR FEB 28 NET
| Shr 31 cts vs 41 cts
Net 436,981 vs 583,715
Six months
Shr 63 cts vs 82 cts
Net 901,648 vs 1,160,178
| Financial Reports |
REPUBLIC PICTURES CORP <RPICA> 4TH QTR LOSS
| Oper shr loss two cts vs profit eight cts
Oper net loss 77,000 vs profit 285,000
Revs 3,781,000 vs 4,721,000
Year
Oper shr profit 23 cts vs profit 26 cts
Oper net profit 904,00 vs profit 952,000
Revs 19.0 mln vs 15.1 mln
Note: Current qtr and year figures exclude losses from
... | Market and Economy |
EQUIPMENT CO OF AMERICA <ECOA> 4TH QTR NET
| Oper shr seven cts vs four cts
Oper net 159,000 vs 94,000
Sales 4,528,000 vs 3,683,000
Avg shrs 2,376,000 vs 2,189,000
Year
Oper shr 19 cts vs 15 cts
Oper net 435,000 vs 339,000
Sales 15.7 mln vs 14.4 mln
NOTE: Net excludes tax credits of 17,000 dlrs vs 39,000
dlrs in... | Financial Reports |
OHIO MATTRESS <OMT> IN ACQUISITION, SETTLEMENT
| Ohio Mattress Co said itr has
executed a definitive agreement to acquire Sealy Mattress Co of
Michigan Inc, the Detroit licensee of Ohio Mattress's 82 pct
owned Sealy Inc subsidiary in a transaction that also involves
a settlement between Sealy and Michigan Sealy.
The company said on completion of the a... | Financial Reports |
<TOROMONT INDUSTRIES LTD> YEAR NET
| Oper shr 49 cts vs 47 cts
Oper net 1,475,000 vs 1,474,000
Revs 85.8 mln vs 90.6 mln
Note: Current shr and net exclude extraordinary loss of
3,413,000 dlrs or 1.13 dlrs shares, versus extraordinary loss
of 63,000 dlrs or two cts share in prior year
| Market and Economy |
AMERON INC <AMN> 1ST QTR FEB 28 LOSS
| Shr loss 11 cts vs profit six cts
Net loss 515,000 vs profit 294,000
Sales 62.8 mln vs 65.4 mln
| Corporate News |
YORK INTERNATIONAL <YRK> TO MAKE ACQUISITIONS
| York International Corp said it has
agreed to acquire Frick Co and Frigid Coil/Frick Inc for
undisclosed terms.
The company said Frick makes refrigeration equipment and
compressors and Frigid Coil also makes refrigeration equipment.
Together the two had revenues of about 50 mln dlrs in 1986.
The ... | Financial Reports |
NUCLEAR SUPPORT <NSSI> TO BUY ITT <ITT> HENZE
| Nuclear Support Services Inc
said it agreed in principle to buy the business and assets of
ITT Henze Service from ITT Corp for an undisclosed amount.
Henze, which is engaged in performing nuclear plant repair
work, had revenues of 12.7 mln dlrs for the year ended December
31, 1986.
For 1986, Nucle... | Commodities and Trade |
COLONIAL BANCGROUP <CLBGA> BUYS FARMERS
| Colonial BancGroup said it
acquired Farmers and Merchants Bank, a Baldwin County bank with
assets of 103 mln dlrs, through an exchange of stock valued at
about 12 mln dlrs.
Colonial said it also signed letters of intent to acquire
First Federal Bank in Opelika, Athens-Limestone Bank in Athens,
Jackson... | Financial Reports |
NORTON <NRT> TO SELL SOUTH AFRICAN OPERATIONS
| Norton co said it has agreed to
sell its remaining South African business, Norton co Pty Ltd,
to <Global Mining and Industrial Corp> of South africa for
undisclosed terms.
The company said the unit accounts for less than two pct of
Norton revenues and is being sold because "Growing societal
pressur... | Corporate News |
ROCHESTER TELEPHONE <RTC> COMPLETES ACQUISITION
| Rochester Telephone Corp said
it completed its acquisition of the Enterprise Telephone Co,
based in New Holland, Pa., in exchange for stock valued at 26.3
mln dlrs.
Enterprises serves about 16,000 access lines in Lancaster
County. Enterprise becomes the third operating telephone
subsidiary of Rocheste... | Market and Economy |
CITY RESOURCES TO SELL GOLD PROPERTY STAKE
| City Resources Ltd said it has agreed
in principle to sell a 50 pct interest in a group of mineral
properties in the southwest Pacific to a buyer it did not name
for 30 mln Canadian dlrs.
The company said a preliminary estimate of the geological
resources of one of the properties to a depth of 200 meter... | Other |
HOME SHOPPING <HSN> TO PURCHASE TV STATION
| Home Shopping NEtwork Inc said
its Silver King Broadcasting Co INc unit entered a definitive
contract to buy the broadcasting assets of TV station KWVT,
Channel 22 in the Portland/Salem, Ore. area for undisclosed
terms.
Additionally, the company said KWVT, which serves 785,000
homes, began broadcastin... | Commodities and Trade |
COVINGTON TECHNOLOGIES INC <COVT> YEAR NET
| Oper shr profit eight cts vs loss 20 cts
Oper net profit 1,115,000 vs loss 2,729,000
Revs 83.0 mln vs 37.9 mln
Note: Current year figures exclude operating loss
carryforward gain of 888,000 dlrs and loss from discontinued
operations of 73,000 dlrs.
Prior year figures exclude loss from disc... | Corporate News |
COBANCO INC <CBCO> YEAR NET
| Shr 34 cts vs 1.19 dlrs
Net 807,000 vs 2,858,000
Assets 510.2 mln vs 479.7 mln
Deposits 472.3 mln vs 440.3 mln
Loans 299.2 mln vs 327.2 mln
Note: 4th qtr not available. Year includes 1985
extraordinary gain from tax carry forward of 132,000 dlrs, or
five cts per shr.
| Other |
AMERICAN EXPRESS <AXP> SEEN IN POSSIBLE SPINNOFF
| American Express Co remained silent on
market rumors it would spinoff all or part of its Shearson
Lehman Brothers Inc, but some analysts said the company may be
considering such a move because it is unhappy with the market
value of its stock.
American Express stock got a lift from the rumor, as the
ma... | Commodities and Trade |
CANADA CURRENT ACCOUNT DEFICIT UP IN QUARTER
| Canada's current account deficit widened
to a seasonally adjusted 2.27 billion dlrs in the fourth
quarter from a deficit of 1.94 billion dlrs in the third,
Statistics Canada said.
The shortfall for the full year rose to 8.81 billion dlrs
from 1985's 584 mln dlr deficit, the federal agency said.
Th... | Corporate News |
PARIS MEET AGREED NOT TO PUBLISH BANDS - LAWSON
| U.K. Chancellor of the Exchequer Nigel
Lawson said the meeting of six major industrial nations in
Paris last month agreed not to publish any bands in connection
with their pact to stabilise currencies.
Questioned by a parliamentary select committee about why
the participating countries had not announced... | Corporate News |
BASS GROUP SAYS IT HAS HAD TALKS ON SEEKING CONTROL OF TAFT BROADCASTING
|
BASS GROUP SAYS IT HAS HAD TALKS ON SEEKING CONTROL OF TAFT BROADCASTING
| Financial Reports |
LOWER REFINERY OPERATIONS SEEN PRODUCING PROFITS
| U.S. refiners will have to
reduce operations if they want to be profitable this year, said
industry officials attending the National Petroleum Refiners
Association meeting here.
"If the refining sector can discipline itself to refine
about 12 mln barrels of crude oil a day, we have a chance to
pull d... | Market and Economy |
HOME FEDERAL OF THE ROCKIES <HROK> 4TH QTR LOSS
| Shr loss 2.07 dlrs vs profit 36 cts
Net loss 1,088,000 vs profit 187,000
Year
Shr loss 12.23 dlrs vs profit 17 cts
Net loss 645,000 vs profit 89,000
NOTE: Home Federal Savings and Loan Association of the
Rockies.
1986 net includes tax credits of 165,000 dlrs in quarter
and 189,... | Corporate News |
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS SOYBEANS 17,683 WHEAT 20,717 CORN 36,581
|
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS SOYBEANS 17,683 WHEAT 20,717 CORN 36,581
| Financial Reports |
NEWMONT MINING <NEM> PLANS 2-FOR-1 STOCK SPLIT
| Newmont Mining Corp's board has
proposed a two-for-one stock split subject to shareholder
approval of an increase to 120 mln from 60 mln in authorized
common shares, the proxy for the company's annual meeting said.
If holdings voting at the May six meeting in Wilmington,
Del., approve the increase in au... | Financial Reports |
DENPAC CORP <DNPC> YEAR LOSS
| Shr loss one ct vs loss one ct
Net loss 483,518 vs loss 220,582
Sales 381,841 vs 400,518
NOTE: 1985 net includes 196,868 dlr gain from forgiveness o
accrued interest due to affiliates.
| Corporate News |
<AIN LEASING CORP> 3RD QTR JAN 31 LOSS
| Shr loss six cts vs profit 22 cts
Net loss 133,119 vs profit 496,391
Revs 136,918 vs 737,917
Nine mths
Shr loss 21 cts vs profit 15 cts
Net loss 478,991 vs profit 340,210
Revs 324,011 vs 841,908
| Financial Reports |
CANADA DECEMBER GDP GAINS 1.2 PCT
| Canada's gross domestic product, by
industry, rose a seasonally adjusted 1.2 pct in December, the
largest monthly gain since April, 1986, Statistics Canada said.
GDP, which fell 0.2 pct in November, was 2.1 pct above the
December, 1985 level, the federal agency said.
Output of goods producing indust... | Corporate News |
VENEZUELA WANTS TO BOOST ITS REFINING CAPACITY
| Venezuela's state oil
company Petroleos de Venezuela S.A. wants to raise its
worldwide refining capacity by 150,000 barrels of per day, a
company official attending the National Petroleum Refiners
Association meeting here said.
He declined to be identified but said PdVSA has the
capacity to refine abo... | Financial Reports |
PRIMEBANK <PMBK> SETS 10 PCT STOCK DIVIDEND
| PrimeBank Federal Savings
Bank said its board declared a 10 pct stock dividend to be
distributed about April 15 to holders or record March 31.
| Financial Reports |
AMERICAN LOCKER GROUP INC <ALGI> 4TH QTR NET
| Shr profit 23 cts vs loss six cts
Net profit 319,564 vs loss 84,203
Sales 6,419,230 vs 5,583,560
Year
Shr profit 1.11 dlrs vs profit 43 cts
Net profit 1,582,125 vs profit 654,083
Sales 26.2 mln vs 22.6 mln
NOTE: Full year 1985 includes gains of two cts per share
from discon... | Commodities and Trade |
BASS GROUP SAYS IT HAS HAD TALKS ON TAFT <TFB>
| A group led by members of the
wealthy Bass family of Fort Worth, Texas, which holds a 24.9
pct stake in Taft Broadcasting Co, said it has had talks about
taking part in a move to take control of the company.
In a filing with the Securities and Exchange Commission,
the group said it has had discussions w... | Financial Reports |
SAATCHI AND SAATCHI BUYS CLEVELAND CONSULTING
| Advertising agents Saatchi and Saatchi Co
Plc <SACHY> said it was buying <Cleveland Consulting Associates
Inc> for an initial consideration of 2.0 mln dlrs.
Additional payments may be made annually through the year
ending March 31, 1991 to bring the total consideration up to
9.5 pct of Cleveland's... | Financial Reports |
U.S. STEEL PRODUCTION ROSE 1.3 PCT IN WEEK
| Steel production rose
1.3 pct to 1,696,000 short tons in the
week ended March 28 from 1,675,000 short
tons, the American Iron and Steel Institute
reported
Production so far this year was 18,810,000 tons adjusted off
14.6 pct from 22,016,000 tons
produced by the nations mills a year ago.
Utiliza... | Commodities and Trade |
NORTH AMERICAN GROUP <NAMG> 4TH QTR OPER LOSS
| Oper shr loss 12 cts vs loss 10 cts
Oper net loss 474,270 vs loss 369,848
Revs 202,500 vs 111,210
Avg shrs 3,904,373 vs 3,495,579
Year
Oper shr loss 28 cts vs loss 46 cts
Oper net loss 1,069,550 vs loss 893,612
Revs 408,031 vs 438,933
Avg shrs 3,785,607 vs 1,944,627
... | Financial Reports |
<OXOCO INC> YEAR LOSS
| Oper shr loss 6.68 dlrs vs loss 9.95 dlrs
Oper net loss 53.9 mln vs loss 69.8 mln
Revs 16.5 mln vs 33.2 mln
Avg shrs 8,329,492 vs 7,271,668
NOTE: 1986 excludes loss 12.9 mln for discontinued
compressor operations vs loss 14.9 mln year prior.
1986 excludes gain of 98.7 mln for extinguis... | Financial Reports |
TEECO PROPERTIES L.P. OPER INCOME DOWN
| <Teeco Properties L.P.> said the
partnership recorded income from operations for 1986 of 140,000
dlrs, or two cts a unit.
The partnerhsip said this compared to 1985 figures of
660,000 dlrs, or 10 cts a unit.
Results of operations between both years is not comparable
since the partnership's prin... | Other |
BROUGHER INSURANCE GROUP INC<BIGI> 4TH QTR LOSS
| Shr loss nine cts vs profit 20 cts
Net loss 257,157 vs profit 414,890
Year
Shr profit 54 cts vs profit 1.05 dlrs
Net profit 1,295,104 vs profit 2,140,673
| Financial Reports |
CSC INDUSTRIES UNIT TO INCREASE PRICES
| Copperweld Steel Co <CPSL>, a
subsidiary of CSC Industries Inc., said it will increase from
market price levels its bar, semi-finished and leaded products
effective July One.
Hot rolled and cold finished bar wil be increase 25 dlrs
per net ton, while semi-finished products will be increased 15
dlrs... | Financial Reports |
UNILEVER'S <UN> CHESEBROUGH OFFERS TO SELL BASS
| Chesebrough-Pond's Inc, recently
acquired by a unit of Unilever N.V., said it is offering to
sell its Bass shoe division, as a result of an
ongoing evaluation of the long-term direction of its
businesses.
The diversified maker of health and beauty aids, said it
acquired Falmouth, Maine-based G.H. Bass... | Commodities and Trade |
USDA TO UPDATE WINTER WHEAT ACREAGE TOMORROW
| The U.S. Agriculture Department said
it will update its estimate of winter wheat seeded acreage in
the prospective planting report, scheduled for release at 1500
est (2100 gmt) tomorrow, March 31.
The original estimate of seedings of winter wheat was
published in January.
It said the new survey is... | Financial Reports |
SANTA FE <SFX> AWARE OF HENLEY <HENG> STAKE
| Santa Fe Southern Pacific Corp said it
has discussed with Henley Group that company's almost five pct
stake and was told the holdings are for investment purposes.
"We have confirmed with the Henley Group that they own
approximately 7.9 mln shares of Santa Fe Southern Pacific
common stock. They have info... | Financial Reports |
U.S. SUGAR IMPORTS DOWN IN LATEST WEEK - USDA
| Sugar imports subject to the U.S.
sugar import quota during the week ended March 6 totaled 25,192
short tons versus 29,043 tons the previous week, the
Agriculture Department said.
Cumulative imports now total 130,804 tons, it said.
The sugar import quota for the 1987 quota year
(January-December) ... | Other |
TEMPLETON ENERGY INC <TMPL> 4TH QTR NET
| Shr profit four cts vs loss six cts
Net profit 967,000 vs loss 1,219,000
Revs 10.1 mln vs 4.5 mln
Year
Shr profit three cts vs loss five cts
Net profit 688,000 vs 982,000
Revs 24.6 mln vs 16.3 mln
NOTE: 1986 includes results of Louisiana Energy and
Development Corp acquired... | Commodities and Trade |
AEL INDUSTRIES <AELNA> 4TH QTR FEB 27 NET
| Shr 66 cts vs 33 cts
Net 2,955,000 vs 1,563,000
Revs 26.1 mln vs 23.9 mln
12 mths
Shr 74 cts vs 1.01 dlrs
Net 3,321,000 vs 4,739,000
Revs 108.4 mln vs 104.9 mln
NOTE: year 1987 includes charge of 818,000 dlrs, or 18 cts
per share, for sale of Elisra Electronic Systems Ltd.
... | Corporate News |
AMOSKEAG <AMKG> TAKEOVER BLOCKED BY COURT
| Amoskeag Bank Shares Inc said
the New Hampshire Supreme Court overturned its proposed
acquisition of Portsmouth Savings Bank in a three-two vote.
The acquisition had been opposed by some depositors, who
filed an action to block the takeover.
"We will respond to this news as soon as we have had an
... | Financial Reports |
METROMAIL <MTMA> PREDICTS FLAT EARNINGS
| Metromail Corp said it expects
flat operating profits for its 1987 fiscal year ending May 31
with last fiscal year's earnings from operations of 9,943,000
dlrs, or 1.05 dlrs a share.
The company said the flat results will be due to higher
than normal expenditures during the fourth quarter for
expansio... | Corporate News |
CONTINENTAL <GIC> SEES 1987 NET UP FROM TAX LAW
| Continental Corp said the fresh start
provision of the Tax Reform Act of 1986 may add 1.30 to 1.60 to
1987 earnings per share.
The insurance holding company had net earnings of 449.6 mln
dlrs, or, or 7.42 per share, in 1986.
John Loynes, Continental chief financial officer, said the
fresh start pr... | Financial Reports |
BALL <BLL> ENDS TALKS WITH MONSANTO <MTC>
| Ball Corp said it was unable to
complete negotiations to acquire the plastic container business
of Monsanto Co.
It said the two companies had entered into exclusive
negotiations last October.
Neither company provided details on why the talks were
terminated.
| Financial Reports |
JAPAN BUYS CANADIAN RAPESEED
| Japanese crushers bought 2,000 tonnes
of Canadian rapeseed in export business overnight for May
shipment, trade sources said.
| Financial Reports |
REEF ENERGY <RFEN> ENTERS PIPELINE AGREEMENT
| Reef Energy Corp said its
board entered into agreements with Penteco Corp, a private
Tulsa-based company, to buy a 12-pct interest in the general
partnership of Penteco East Central Pipeline and a 10-pct
interest in Lincoln Gas and Marketing Corp.
Penteco East is a gas gathering and transmission system ... | Financial Reports |
AMERON INC <AMN> QTLY DIVIDEND
| Shr 24 cts vs 24 cts prior qtr
Pay May 15
Record April 24
| Financial Reports |
JOHNSON ELECTRONICS INC <JHSN> 4TH QTR LOSS
| Shr loss three cts vs profit eight cts
Net loss 35,000 vs profit 128,000
Revs 1,133,000 vs 1,528,000
Year
Shr profit four cts vs profit 21 cts
Net profit 72,000 vs profit 339,000
Revs 4,837,000 vs 4,500,000
NOTE: 1985 net income included an after tax gain of 195,000
or 12 c... | Corporate News |
TREASURY BALANCES AT FED FELL ON MARCH 27
| Treasury balances at the Federal
Reserve fell on March 27 to 2.424 billion dlrs from 2.508
billion dlrs on the previous business day, the Treasury said in
its latest budget statement.
Balances in tax and loan note accounts fell to 9.706
billion dlrs from 10.786 billion dlrs on the same respective
days... | Corporate News |
MORRISON INC <MORR> 3RD QTR FEB 28 NET
| Shr 35 cts vs 29 cts
Qtly div 12 cts vs 12 cts prior qtr
Net 5,036,000 vs 4,165,000
Revs 147.6 mln vs 132.4 mln
Nine mths
Shr 1.12 dlrs vs one dlr
Net 16.1 mln vs 14.4 mln
Revs 433.4 mln vs 385 mln
NOTE: Per share data reflect March 1986 five pct stock
distribution. C... | Financial Reports |
VANDERBILT <VAGO> TO RAISE COMMON, MERGE
| Vanderbilt Gold Corp said
shareholders at a special meeting approved its reincorporation
in Delaware, an increase in authorized common to 25 mln shares
from 12 mln shares, and a non-qualified stock option plan.
It also said shareholders approved the merger of Morning
Star Mine interests held by six corp... | Commodities and Trade |
LITTLE RISK SEEN FOR TEXAS COTTON FROM COLD
| Texas' cotton crop stands little
chance of damage from frigid temperatures expected tonight in
that state, as very little cotton has been planted, according
to Texas agricultural sources and cotton market analysts.
"It's still pretty early for cotton planting. Only six pct
of the crop was planted as of ... | Financial Reports |
REPORT ON EXPORT MARKETS FOR U.S. GRAIN DELAYED
| The U.S. Agriculture Department's
report on Export Markets for U.S. Grain, scheudled for release
today, has been delayed until Wednesday, April 1, a department
spokeswoman said.
No reason was given for the delay in releasing the monthly
report.
| Commodities and Trade |
BILZERIAN TELLS SEC HE UPS PAY 'N PAK STAKE TO 9.9 PCT
|
BILZERIAN TELLS SEC HE UPS PAY 'N PAK STAKE TO 9.9 PCT
| Other |
ROYAL DUTCH <RD> UNIT RAISES HEAVY FUEL PRICES
| Scallop Petroleum Corp, a subsidiary
of Royal Dutch/Shell group, said today it raised contract
prices for heavy fuel 25 cts to 1.75 dlrs a barrel, effective
today.
The increase brings the price for 0.3 pct sulphur to 22.50
dlrs, up 1.75, 0.5 pct sulphur to 21.50 dlrs, up 1.50, 0.7 pct
sulphur to 20.25... | Financial Reports |
FLORIDA WEEKLY CROP REPORT
| Florida's citrus groves continue
in very good condition, acccording to the latest report by the
U.S. Department of Agriculture's Florida Agricultural
Statistics Service. Late-week rains and thunderstorms came at
an opportune time. Warm daytime temperatures and good soil
moisture have produced an abundance o... | Corporate News |
BASS GROUP EMERGES AS POSSIBLE TAFT<TFB> BIDDERS
| The Bass Group, once thought by
analysts to be eager to sell its holdings in Taft Broadcasting
Co, emerged as another potential bidder for the Ohio
broadcasting company.
The Bass Group, which holds 24.9 pct of Taft, said it had
talked with other taft stockholders and some company managers
and director... | Commodities and Trade |
U.S. TRADE OFFICIAL SAYS JAPAN ACTION FOOLISH
| A high level U.S. trade official
said it would be foolish for Japan to strike back against the
United States for its sanctions on Japanese semiconductor
electronics products.
Asked by reporters if Japan was expected to retaliate
against U.S. exports, Deputy Under Secretary of Commerce Bruce
Smart repl... | Market and Economy |
BILZERIAN UPS PAY 'N PAK <PNP> STAKE TO 9.9 PCT
| Investor Paul Bilzerian, who has
said he may seek control of Pay 'n Pak Stores Inc, said he
raised his stake in the company to one mln shares, or 9.9 pct
of the total, from 721,900 shares, or 7.2 pct.
In a filing with the Securities and Exchange Commission,
Bilzerian and Bicoastal Financial Corp, a Tamp... | Financial Reports |
FORD MOTOR CO OF CANADA LTD <FC> 4TH QTR NET
| Shr 8.17 dlrs vs 55 cts
Net 67.7 mln vs 4.5 mln
Revs 3.67 billion vs 3.54 billion
Year
Shr 12.19 dlrs vs 24.00 dlrs
Net 101.1 mln vs 199.0 mln
Revs 14.33 billion vs 13.35 billion
Note: 90 pct owned by Ford Motor Co <F>
| Commodities and Trade |
FED'S POLICY EASE MAY END WITH 2ND QTR RATE CUT
| The Federal Reserve's move to easier
monetary policy, begun with four quick half-point discount rate
cuts in 1986, will likely end with a final rate drop in the
second quarter, analysts said.
A poll of 10 economists shows most expect interest rates to
edge lower, with the Fed likely to drop its basic le... | Financial Reports |
LOUISIANA WEEKLY CROP REPORT
| The Louisiana weekly USDA state crop
report said there were 2.4 days suitable for fieldwork.
Soil moisture supplies rated 41 pct adequate and 59 pct
surplus.
Winter Wheat - fair to good condition. eight pct headed vs
27 pct a year ago and 17 pct average.
Corn - eight pct planted vs 64 pct a ye... | Financial Reports |
SERVICE RESOURCES <SRC> UNIT SETS PURCHASE
| Service Resources Corp's Chas. P.
Young Co subsidiary said it agreed to acquire Atwell Fleming
Printing Ltd, a Canadian financial printer, for about 3.2 mln
dlrs.
Young said the acquisition, which is expected to close in
April, is subject to due dilligence review.
| Financial Reports |
LLE ROYALTY <LRT> SETS MONTHLY PAYOUT
| LL and E Royalty Trust said its monthly
dividend, for January, to unitholders will be 8.37 cts per unit
payable April 15 to holders of record April six.
As previously reported, pending a ruling from the Internal
Revenues Service, the trust's distribution may be reduced by
1.09 dlr per unit, plus interes... | Corporate News |
GENOVA <GNVA> TO MERGE INTO GENOVA PRODUCTS
| Genova Inc said its shareholders
approved a merger into <Genova Products Inc>, which will be
consumated within a few days. Under the agreement, Genova said
each of its shareholders will receive 5.375 dlrs per share in
cash.
| Financial Reports |
ROYAL BANK OF CANADA 1ST QTR SHR 88 CTS VS 1.22 DLRS
|
ROYAL BANK OF CANADA 1ST QTR SHR 88 CTS VS 1.22 DLRS
| Financial Reports |
IMPERIAL BANCORP <IBAN> SETS FIVE PCT DIVIDEND
| Imperial Bancorp said it declared a
five pct stock dividend, payable May 29 to shareholders of
record April 17.
| Financial Reports |
TEXAS WEEKLY CROP REPORT
| The Texas weekly USDA state crop report
said stormy winter weather limited fieldwork before conditions
improved later in the week.
A snowstorm caused some cattle deaths in the Panhandle, and
cold, wet weather covered many areas. Windy weather followed to
dry fields and limit planting delays.
Small... | Commodities and Trade |
ARKLA <ALG> PROPOSAL TO SETTLE DISPUTE
| Arkla Inc said it and
International Paper Co <IP> filed a proposal with the Arkansas
Public Service Commission designed to resolve the dispute
between the two over IP's plan to build natural gas pipelines
for its paper mill facilities at Pine Bluff and Camden.
Arkla's pipeline division, Arkla Energy ... | Financial Reports |
SERVICE RESOURCES <SRC> UNIT IN ACQUISITION
| Chas. P. Young Co, a subsidiary of
Service Resources Corp, said it signed a definitive agreement
to acquire Atwell Fleming Printing Ltd, of Canada, for about
3.2 mln dlrs.
The transaction is expected to close in April.
ON February 23, Chas. P. Young said it had aquired 19.05
pct of the shares of S... | Financial Reports |
AEC INC <AECE> SETS REGULAR PAYOUT
| Qtrly div eight cts vs eight cts prior
Pay April 30
Record April 8
| Financial Reports |
U.S. M-1 MONEY SUPPLY ROSE 2.1 BILLION DLRS
| U.S. M-1 money supply rose 2.1 billion
dlrs to a seasonally adjusted 736.7 billion dlrs in the
February 16 week, the Federal Reserve said.
The previous week's M-1 level was revised to 734.6 billion
dlrs from 734.2 billion dlrs, while the four-week moving
average of M-1 rose to 735.0 billion dlrs from 73... | Commodities and Trade |
BELGIAN MINISTER SEES NEW ACCORD ON EC OILS/FATS
| Belgian Foreign Trade Minister Herman
De Croo said he believed there would be a compromise within the
European Community, EC, on its proposed tax on vegetable fats
and oil, averting a pledged tough trade response by the United
States.
De Croo, in Washington for talks with Administration
officials and ... | Other |
SHELL CANADA SCHEDULES ANNUAL REFINERY SHUTDOWN
| Shell Canada Ltd, 72 pct owned
by Royal Dutch/Shell Group <RD> <ST>, scheduled its annual
maintenance refinery shutdowns during the next two months,
company spokeswoman Judy Wish said.
Wish said refineries will stockpile production before the
shutdowns to maintain normal supply while maintenance i... | Commodities and Trade |
DIXONS GROUP, AUDIO/VIDEO <AVA> END LITIGATION
| Dixons Group PLC said that pursuant to
an agreement with Audio/Video Affiliates Inc, part of an
investor group that made a rival bid for Cyclops Corp <CYL>,
all litigation between them has been dismissed.
As part of the agreement, Dixons said Cyacq Corp, the
Audio/Video investor group that includes C... | Financial Reports |
U.S. DOT APPROVES AMERICAN <AMR>-ACI <ACF> PACT
| The U.S. Department of
Transportation (DOT) said it gave final clearance to the
proposed 225 mln dlr acquisition of AirCal Inc by American
Airlines Inc.
"The acquisition is not likely to substantially lessen
competition or to be inconsistent with the public interest," the
DOT said in a statement.
... | Corporate News |
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