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SOUTHERN NATIONAL CORP <SNAT> SETS STOCK SPLIT
| Southern National corp said its
board declared a three-for-two stock split, payable to
shareholders of record on May 22.
A company spokeswoman said the payable date for the split
has not yet been fixed but would be shortly after the record
date.
| Financial Reports |
NATIONAL SEMICONDUCTOR<NSM> CITES IMPROVED RESULTS
| National Semiconductor Corp
said improved results at its Semiconductor Group helped reduce
losses in the third quarter and nine months.
In the quarter ended March 8, the group had a modest sales
increase and major improvement in operating performance
compared to the year-ago quarter, the company said.
... | Corporate News |
N.Z. QUARTERLY CURRENT ACCOUNT DEFICIT NARROWS
| New Zealand's current account deficit
for the quarter ended December 31, 1986 narrowed to 567 mln
dlrs from 738 mln, revised down from 742 mln, for the September
quarter and from 733 mln a year earlier, the statistics
department said.
The deficit for the year ended December narrowed to 2.75
billion dl... | Financial Reports |
EC COLD AID FOOD SCHEME MAY BE MADE PERMANENT
| Emergency action to distribute
European Community (EC) food surpluses to the poor has proved
so successful that the EC executive Commission may propose a
permanent scheme, a Commission spokesman said.
Almost 60,000 tonnes of food was taken out of EC stores
between January 20, when Agriculture Ministers ... | Financial Reports |
FED MAY ADD RESERVES, ECONOMISTS SAY
| The Federal Reserve may intervene in
the government securities market to add reserves today, some
economists said, although others felt that the Fed was likely
to refrain from any action.
Those who believed the Fed will intervene said it would
probably add temporary reserves indirectly via 1.5 to two
... | Corporate News |
BERLINER BANK OUTLINES LOSSES
| <Berliner Bank AG> has suffered
losses of between 25 mln and 30 mln marks on credits extended
by its Stuttgart branch by bank officials who exceeded their
powers, a bank spokesman said.
The spokesman, replying to queries about press reports,
said he could not rule out the possibility that the final l... | Financial Reports |
HUGHES SUPPLY INC <HUG> SETS QUARTERLY
| Qtly div 10 cts vs 10 cts prior
Pay May 22
Record May 8
| Corporate News |
KLEINERT'S INC <KLRT> 1ST QTR ENDS FEB 28 NET
| Shr 24 cts vs 18 cts
Net 359,000 vs 297,000
Revs 5,724,000 vs 6,430,000
Avg shrs 1,475,0000 vs 1,668,000
NOTE: qtrs include tax gain of 147,000 vs 137,000.
Prior qtr ended March 1, 1986.
| Commodities and Trade |
U.S. SUPREME COURT ALLOWS OFFSHORE ALASKAN OIL AND GAS EXPLORATION
|
U.S. SUPREME COURT ALLOWS OFFSHORE ALASKAN OIL AND GAS EXPLORATION
| Corporate News |
MICRODYME CORP <MCDY> 1ST QTR FEB ONE LOSS
| Shr loss nine cts vs profit two cts
Net loss 397,000 vs profit 76,000
Revs 3,763,000 vs 6,467,000
| Financial Reports |
U.S. COURT ALLOWS OFFSHORE ALASKAN EXPLORATION
| A unanimous Supreme Court ruled that
oil and gas exploration can proceed on two tracts off the
Alaska coast which were leased by the federal government to
eight major oil companies.
The ruling was an important victory for the oil companies
and the Reagan administration's controversial off-shore leasing
... | Financial Reports |
TRANSAMERICA SELLS OCCIDENTAL LIFE AUSTRALIA
| Equity investment company <Battery
Group Ltd> said it had agreed to buy <Occidental Life Insurance
Co of Australia Ltd> from TransAmerica Corp <TA> of the U.S.
For 105 mln Australian dlrs.
The acquisition has been made possible by the efforts of
its major shareholder, <Pratt and Co Financial... | Financial Reports |
LOWER TAX OFFSETS LOWER SHELL U.K. UPSTREAM PROFIT
| <Shell U.K. Ltd's> pre-tax profit on
exploration and production operations fell to 869 mln stg in
1986 from 2.12 billion in 1985 due to the fall in oil prices
last year, Shell U.K. Finance director Nigel Haslam said.
But he told a press conference that due to the high
marginal tax rate on North Sea o... | Corporate News |
CALNY INC REJECTS PEPSICO INC ACQUISITION OFFER
|
CALNY INC REJECTS PEPSICO INC ACQUISITION OFFER
| Financial Reports |
DIXONS PLANS TO LET CYCLOPS <CYL> OFFER EXPIRE
| Dixons Group PLC said it does not plan
to extend the expiration date of its tender offer for any and
all common shares of Cyclops Corp beyond tonight.
Dixons said it would accept shares validly tendered and not
withdrawn by midnight tonight.
Dixons, which is offering 90.25 dlrs a share for Cyclops,
... | Corporate News |
INTERNATIONAL CLINICAL LABORATORIES INC <ICLB>
| Shr nine cts vs seven cts
Net 676,000 vs 509,000
Revs 48.5 mln vs 39.9 mln
1st half
Shr 12 cts vs 17 cts
Net 923,000 vs 1,248,000
Revs 94.1 mln vs 79.5 mln
NOTE:Current half net includes charge 500,000 dlrs from
reversal of investment tax credits.
| Financial Reports |
NORWEGIAN CENTRAL BANK RESERVES FALL IN JANUARY
| Norway's Central Bank reserves totalled
91.06 billion crowns in January, against 93.07 billion in
December and 105.29 billion in January 1986, the central bank
said in its monthly balance sheet.
Foreign exchange reserves totalled 83.68 billion crowns,
compared with 85.52 billion in December and 99.19 bi... | Commodities and Trade |
CRA LTD <CRAA.S> 1986 NET
| Net 138.20 mln dlrs vs 87.80 mln.
Shr 24.8 cents vs 17.8
Final div to announced after July 1, vs final 10 cents
making 15.
Sales revenue 4.81 billion vs 4.69 billion
Investment income 116.93 mln vs 60.61 mln
Shrs 494.35 mln vs 494.22 mln.
NOTE - Net is after tax 171.03 mln dlrs v... | Other |
GNB JOINS IN LEVERAGED BUYOUT OF FRENCH UNIT
| <GNB Inc> said it joined
with the management of the French company Compagnie Francaise
d'Electro-Chimie to purchase the company for an undisclosed
amount.
The French company, which produces lead-acid batteries, had
sales in 1986 of 75 mln dlrs, GNB said.
| Financial Reports |
OIL TAX BREAK RIDICULED BY U.S. HOUSE TAXWRITER
| A House taxwriter said Energy
Secretary James Herrington's "outrageous" plan to restore an old
tax break for oil companies was both bad tax and energy policy.
Rep. Pete Stark, a California Democrat and senior House
Ways and Means Committee member, said Herrington's plan for a
27.5 pct depletion allowanc... | Corporate News |
CALNY <CLNY> REJECTS PEPSICO ACQUISITION OFFER
| Calny Inc said its board
rejected as inadequate the unsolicited offer by PepsiCo Inc
<PEP> subsidiary Taco Bell Corp for all Calny's outstanding
common stock at 11.50 dlrs cash per share.
Taco Bell recently acquired 9.9 pct of Calny's outstanding
stock, Calny said.
Calny said it retained Oppenh... | Other |
K MART CORP RAISES DIVIDEND 17.6 PCT, VOTES THREE-FOR-TWO STOCK SPLIT
|
K MART CORP RAISES DIVIDEND 17.6 PCT, VOTES THREE-FOR-TWO STOCK SPLIT
| Financial Reports |
MALAYSIA RE-IMPOSES EXPORT DUTIES ON RUBBER
| The Malaysian government said it
has re-imposed export duties on rubber at 3/8 cent per kilo
after the gazetted price moved above the threshold price of 210
cents per kilo.
The gazetted price, effective March 1, rose to 213-1/2
cents per kilo from February's 207.
The duty for research remains at 3... | Corporate News |
FED GOVERNOR SUPPORTS COMMODITY PRICE GUIDE
| Robert Heller, a member of the Board
of Governors of the Federal Reserve System, said commodity
prices could form a useful guide for setting domestic and
international monetary policy.
Speaking to the conservative Heritage Foundation, Heller
said, "A broadly based commodity price index may be worth
ex... | Corporate News |
K MART <KM> RAISES PAYOUT, VOTES SPLIT
| K mart Corp said its board approved
a 17.6 pct increase in the quarterly dividend and declared a
three-for-two stock split.
The company raised its dividend to 43.5 cts a presplit
share, up from the previous 37 cts a share. After the split,
the new quarterly dividend rate is equivalent to 29 cts a
shar... | Corporate News |
SOUTHMARK <SM> SELLS NATIONAL HERITAGE STAKE
| National Heritage Inc, a unit of
Southmark Corp, said it began an initial public offering of two
mln shares of common stock at a price of 9.50 dlrs a share.
All the shares are being offered by National Heritage,
which will trade under symbol NHER on Nasdaq, through lead
underwriter Drexel Burnham Lamber... | Other |
MALAYSIA RAISES DUTY ON PROCESSED PALM OIL
| The government said it raised the
export duty on processed palm oil (PPO) to 64.06 ringgit per
tonne from 40.96 ringgit, effective from March 1.
Export duty on crude palm oil (CPO) was unchanged at 16.06
ringgit per tonne.
The gazetted price of PPO rose to 796.8604 ringgit per
tonne from 719.8286.... | Other |
GHANA COCOA PURCHASES STILL AHEAD OF LAST YEAR
| The Ghana Cocoa Board said it purchased
456 tonnes of cocoa in the 23rd week, ended March 12, of the
1986/87 main crop season, compared with 684 tonnes the previous
week and 784 tonnes in the 23rd week ended March 20 of the
1985/86 season.
Cumulative purchases so far this season stand at 217,235
tonne... | Corporate News |
OWENS-ILLINOIS <OI> ACQUISITION COMPLETED
| OII HoLdings Corp, a concern formed by
Kohlberg Kravis Roberts and Co, said it completed its
previously announced acquisition of Owens-Illinois Inc.
Under terms of the February 10 agreement, OII paid 60.50
dlrs per common share and 363 dlrs per 4.75 dlrs convertible
preferred share.
OII said each ... | Corporate News |
HECLA <HL> TO BUY MINE STAKE FROM BP <BP> UNIT
| Hecla Mining Co said it
has agreed to purchase a 28 pct interest in the Greens Creek
Joint Venture from British Petroleum Co PLC's Amselco Minerals
Inc unit.
The venture expects to bring into production a
gold-silver-lead-zinc ore body on Admiralty Island, Alaska,
containing about 3,500,000 short tons... | Financial Reports |
CHRYSLER, LAMBORGHINI STILL IN JOINT VENTURE TALKS
| Joint venture talks that could
lead to Chrysler Corp <C> taking a stake in Italian car maker
<Automobili Lamborghini SpA> are continuing, a Lamborghini
spokesman said.
He told Reuters the two companies are discussing a number
of topics ranging from "a joint venture in the production area
to Chry... | Financial Reports |
MOSCOW SUPPORTS FREE GULF NAVIGATION, ENVOY SAYS
| The Soviet Union supports the freedom
of navigation in the Gulf and does not support any act which
would cause the deterioration of the situation in the region,
its ambassador to Kuwait, Ernest Zverev, told the Kuwaiti news
agency KUNA.
"We support the freedom of navigation in the Arabian Gulf
and the... | Financial Reports |
BELGIUM DETAILS PRICING PLAN FOR ECU GOLD COIN
| The 50 European Currency Unit gold
coins which go on sale tomorrow in Belgium will be priced at a
premium of seven pct to the value of the gold they contain, a
Finance Ministry spokesman said. The price will be calculated
daily, based on the daily gold fixing in London.
Belgium is minting an initial 50,... | Financial Reports |
DATA ARCHITECTS INC <DRCH> 1ST QTR FEB 28 NET
| Shr 19 cts vs 14 cts
Net 487,000 vs 344,000
Revs 7,492,000 vs 5,883,000
| Corporate News |
PASSPORT TRAVEL INC <PPTI> 1ST QTR FEB 28 NET
| Shr two cts vs nil
Net 20,406 vs 2,348
Sales 6,191,000 vs 6,249,000
| Financial Reports |
comalco ltd 1986 net profit 57.1 mln dlrs vs loss 69.1 mln
|
comalco ltd 1986 net profit 57.1 mln dlrs vs loss 69.1 mln
| Financial Reports |
HI-SHEAR INDUSTRIES INC <HSI> 3RD QTR FEB 28 NET
| Oper shr 28 cts vs 33 cts
Oper net 1,647,000 vs 1,910,000
Revs 19.7 mln vs 17.5 mln
Nine mths
Oper shr 82 cts vs 84 cts
Oper net 4,787,000 vs 8,748,000
Revs 55.9 mln vs 53.0 mln
NOTE: Prior year net excludes tax credits of 29,000 dlrs in
quarter and 1,761,000 dlrs in nine m... | Financial Reports |
PRUDENTIAL RECORDS BEST RESULTS IN SIX YEARS
| <Prudential Corporation Plc>, which
earlier announced a 62 pct rise in 1986 pre-tax profits, said
it had recorded its best general insurance result for six years
but had not reached satisfactory levels of profit in other
areas.
Group Chief Executive Brian Corby told a news conference
that despite r... | Other |
CRS SIRRINE <DA> TO TAKE WRITE-OFF
| CRS Sirrine Inc said it plans a major
restructuring of its balance sheet that will include a
write-off of between 39 mln and 43 mln dlrs, most of which
would be intangible goodwill from the company's past
acquisitions.
The company said the remainder of its write-off would
include a one-time expense fo... | Financial Reports |
FLOWERS INDUSTRIES INC <FLO> 3RD QTR MARCH 7
| March 7 end
Shr 17 cts vs 23 cts
Net 3,998,000 vs 5,317,000
Sales 189.4 mln vs 159.6 mln
Nine mths
Shr 64 cts vs 68 cts
Net 14.9 ln vs 15.9 mln
Sales 540.9 mln vs 464.7 mln
NOTE: Twelve and 36-week periods.
| Financial Reports |
FLOWERS INDUSTRIES <FLO> SEES LOWER YEAR NET
| Flowers Industries Inc said it
expects lower earnings for the current year due to operating
losses incurred by recent acquisitions and possible
nonrecurring losses resulting from its restructuring efforts.
For the year ended June 28, Flowers earned 29.5 mln dlrs.
Today it reported nine month earnings of... | Industrial and Sector News |
TECHNITROL INC <TNL> 4TH QTR
| Shr 54 cts vs 47 cts
Net 1.1 mln vs 941,000
REvs 8.9 mln vs 10.3 mln
Year
Shr 1.65 dlrs vs 1.64 dlrs
Net 3.3 mln vs 3.3 mln
Revs 37.4 mln vs 39.0 mln
| Corporate News |
COMALCO LTD <CMAC.S> 1986 NET
| Net profit 57.1 mln dlrs vs loss 69.1 mln.
Net is equity accounted
Pre-equity accounted net 39.90 mln dlrs vs loss 49.11 mln
Pre-equity shr profit 7.1 cents vs loss 8.7
Final div to be announced after July 1 vs first and final
1.0 cent.
Sales 1.88 billion vs 1.78 billion
Other in... | Financial Reports |
ALCAN UPS ALUMINIUM INGOT AND BILLET PRICES
| Alcan Aluminium Ltd. in Montreal said
it increased yesterday its prices for unalloyed ingot and
extrusion billet by two cents a lb, effective with shipments
beginning May 1.
The new price for unalloyed ingot is 64.5 cents a lb while
the new price for extrusion billet is 72.5 cents a lb.
"We feel v... | Other |
CORRECTED-HECLA <HL> TO BUY MINE STAKE FROM BP
| Hecla Minging Co said it
has agreed to purchase a 28 pct interest in the Greens Creek
Joint Venture from British Petroleum Co PLC's <BP> Amselco
Minerals Inc unit.
The venture expects to bring into production a
gold-silver-lead-zinc ore body on Admiralty Island, Alaska,
containing about 3,500,000 s... | Financial Reports |
GENERAL NUTRITION INC <GNC> 4TH QTR NET
| Qtr ends Jan 31
Shr profit eight cts vs loss 38 cts
Net profit 2,466,000, vs loss 12,691,000
Revs 111.1 mln vs 106.8 mln
12 mths
Shr profit 20 cts vs loss 47 cts
Net profit 6,591,000 vs loss 15.5 mln
Revs 342.6 mln vs 370.4 mln
NOTE: includes provision for store closing... | Other |
CP AIR, PACIFIC WESTERN AIRLINES SET NEW NAME
| <Pacific Western Airlines Corp>
said the airline resulting from the previously announced merger
of its Pacific Western Airlines Ltd unit and Canadian Pacific
Air Lines Ltd would be named Canadian Airlines International
Ltd, effective April 26.
Pacific Western said the two airlines' services and
sch... | Financial Reports |
DRAWDOWN SEEN IN U.S. DISTILLATE STOCKS
| Tonight's American Petroleum Institute
oil inventory report is expected to show another drawdown in
distillate stocks of between two and 7.5 mln barrels for the
week ending March 20, oil analysts and traders said.
They said they expect gasoline inventories to be depleted
by about one to four mln barrels... | Financial Reports |
STERLING OUTLOOK CLOUDED BY TEST OF PARIS ACCORD
| The move by foreign exchange markets to
test the strength of the Paris currency accord has thrown into
question the near-term outlook for sterling, until recently one
of the main beneficiaries of the agreement, analysts said.
Since the six-nation accord last month, sterling has risen
sharply, adding alm... | Financial Reports |
JAPAN'S UNEMPLOYMENT RATE SEEN RISING TO 3.5 PCT
| Japan's unemployment rate is expected to
continue to climb to about 3.5 pct within the next year from
January's three pct record, senior economists, including Susumu
Taketomi of Industrial Bank of Japan, said.
December's 2.9 pct was the previous worst level since the
government's Management and Coordina... | Commodities and Trade |
PLENUM PUBLISHING CORP <PLEN> 4TH QTR NET
| Shr 63 cts vs 45 cts
Net 3,623,067 vs 2,607,977
Gross income 10.1 mln vs 10.1 mln
Year
Shr 2.12 dlrs vs 1.74 dlrs
Net 12.2 mln vs 10.0 mln
Gross income 38.1 mln vs 36.8 mln
NOTE: Share adjusted for five-for-two stock split effective
yesterday.
Net includes gains on sa... | Financial Reports |
HONEYBEE INC <HBE> 4TH QTR NET
| Oper shr 11 cts vs five cts
Oper net 248,000 vs 122,000
Sales 7,269,000 vs 5,481,000
Year
Oper shr 55 cts vs 14 cts
Oper net 1,288,000 vs 333,000
Sales 26.2 mln vs 17.6 mln
NOTE: Net excludes discontinued operations nil vs gain
103,000 dlrs in quarter and losses 82,000 dlrs... | Commodities and Trade |
SCIENTIFIC MEASUREMENT SYSTEMS INC <SCMS> NET
| 2nd qtr Jan 31
Shr loss three cts vs loss seven cts
Net loss 352,000 vs loss 568,000
Revs 636,000 vs 640,000
Avg shrs 12.7 mln vs 8,377,000
1st half
Shr loss six cts vs loss 10 cts
Net loss 594,000 vs loss 865,000
Revs 1,245,000 vs 1,063,000
Avg shrs 10.5 mln vs 8... | Other |
EC MEMBER STATES COOL ON CEREAL PLANS
| European Community (EC) member states
have generally given a cool initial reaction to proposals by
the European Commission for cereal price changes and related
measures in the coming season, EC diplomats said.
They said that in meetings of the EC Special Committee on
Agriculture representatives of most ... | Industrial and Sector News |
PUBLIC SERVICE CO OF COLORADO <PSR> IN PAYOUT
| Qtly div 50 cts vs 50 cts prior
Pay May One
Record April 10
| Financial Reports |
CORRECTED - MANHATTAN NATIONAL CORP <MLC> 4TH
| Oper shr loss 20 cts vs loss 81 cts
Oper net loss 1,042,000 vs loss 4,077,000
Revs 38.5 mln vs 50.3 mln
12 mths
Oper shr loss six cts vs loss 43 cts
Oper net loss 336,000 vs loss 2,176,000
Revs 137.8 mln vs 209.1 mln
NOTE: In item moved March 23, company corrects its error to... | Financial Reports |
SYSTEMATICS INC <SYST> REGULAR PAYOUT
| Qtly div three cts vs three cts prior
Pay March 13
Record February 27
| Other |
SOUTH KOREAN TRADE SURPLUS NARROWS IN FEBRUARY
| South Korea's customs-cleared trade
surplus narrowed to 110 mln dlrs in February from 525 mln in
January, provisional trade ministry figures show.
In February 1986 there was a deficit of 264 mln dlrs.
February exports rose to 2.87 billion dlrs, fob, from 2.83
billion in January and 2.30 billion in F... | Corporate News |
STANDARD CHARTERED BOOSTED BAD-DEBT PROVISIONS
| Standard Chartered Plc <STCH.L>, faced
with a recession in the key Singapore and Malaysian markets and
an ongoing depression in the shipping industry, boosted its
bad-debt provisions in 1986, chairman Lord Barber said.
Barber said in a statement on the bank's 1986 results that
bad and doubtful debt p... | Financial Reports |
COLOMBIA COFFEE REVENUE SHARPLY DOWN IN JAN/FEB
| Colombia's coffee export revenue dropped
97 mln dlrs to 233.6 mln dlrs for the first two months of the
year against 330.9 mln dlrs in the similar period of 1986,
central bank preliminary figures show.
Experts attributed the fall to lower world market prices
following the failure to re-introduce internat... | Corporate News |
STE FRANCAISE DES PETROLES BP <PBPF.PA> 1986 YEAR
| Net result breakeven (no profit or loss) vs breakeven
Operating loss 836 mln francs vs 654 mln
Net turnover 12.70 billion francs vs 24.34 billion
Sales of petroleum products 9.7 mln tonnes vs 10.6 mln
Note - Company said in a statement 1986 results were
affected by the sharp fall in crude oi... | Financial Reports |
OLIVETTI DOES NOT EXCLUDE STAKE IN SGS-THOMSON
| Ing C Olivetti EC SpA <OLIV.M> does not
exclude the possibility of investing in a semiconductor venture
currently under discussion between Italy's <STET - Societa
Finanziaria Telefonica P.A.> and France's Thomson-CSF
<TCSF.PA>, an Olivetti spokesman said.
He said that if Olivetti were approache... | Financial Reports |
ENSERCH CORP <ENS> SETS QUARTERLY
| Qtly div 20 cts vs 20 cts prior
Pay June One
Record May 15
| Commodities and Trade |
NESTLE TO ACQUIRE NABISCO CANADA BUSINESSES
| Swiss-based <Nestle S.A.>'s Nestle
Enterprises Ltd unit said it signed a letter of intent to
acquire <Nabisco Brands Ltd>'s Club, Melrose, Dickson and Chase
and Sanborn businesses for undisclosed terms.
Nestle said the final agreement, subject to required
approvals, would be signed shortly.
... | Financial Reports |
FED'S HELLER SAYS HE WANTS TO SEE STRONGER JAPANESE DEMAND FOR AMERICAN GOODS
|
FED'S HELLER SAYS HE WANTS TO SEE STRONGER JAPANESE DEMAND FOR AMERICAN GOODS
| Financial Reports |
METROPOLITAN FINANCIAL CORP <MFC> VOTES PAYOUT
| Qtly div 11 cts vs 11 cts prior qtr
Pay 30 April
Record 15 April
| Financial Reports |
GOODYEAR <GT> UNIT TO START UP PIPELINE
| Goodyear Tire and Rubber Co said the All
American Pipeline of its Celeron Corp subsidiary will start
line fill activities on March 30 as it begins operating.
The company said about five mln barrels of oil will be
required to pack the completed segment of the line, which runs
1,225 miles from near Santa ... | Financial Reports |
MICROSIZE INC <MSIZ> 2ND QTR ENDS FEB 28 NET
| Shr profit one cent vs loss 2.6 cts
Net profit 59,198 vs loss 132,702
Revs 634,616 vs 485,730
six mths
Shr profit one cent vs loss four cts
Net profit 49,669 vs loss 208,278
Revs 1,056,452 vs 944,330
| Corporate News |
<PAUL'S PLACE INC> CONTROL CHANGES
| Paul's Place Inc said chairman,
president and treasurer Paul D. Lambert has sold 240 mln common
shares to other board members, advisory board members Alan H.
Marcove and Gerald M. Marcove and an unaffiliated purchaser it
did not name.
Terms were not disclosed.
The company said Alan Marvoce has bee... | Financial Reports |
CYACQ AMENDS CYCLOPS OFFER CONDITIONS, SAYS CITICORP EXPANDS FINANCING
|
CYACQ AMENDS CYCLOPS OFFER CONDITIONS, SAYS CITICORP EXPANDS FINANCING
| Financial Reports |
GORDON JEWELRY <GOR> COMPLETES SALE OF UNIT
| Gordon Jewelry Corp said it has
completed the previously-announced sale of the assets of its
catalog showroom stores to privately-held Carlisle Capital Corp
for an undisclosed amount of cash and notes in excess of book
value.
| Financial Reports |
FED'S HELLER URGES JAPANESE TO BUY U.S. GOODS
| A member of the Federal Reserve
Board, Robert Heller, said he wanted to see stronger Japanese
demand for American goods.
"What I was advocating here was more Japanese purchases of
American goods," Heller said in response to a question about the
dollar's weakness in currency markets.
He told a Heri... | Financial Reports |
TAJON RANCH CO <TRC> 4TH QTR NET
| Shr five cts vs nine cts
Net 560,000 vs 1,247,000
Revs 7,597,000 vs 4,619,000
Year
Shr ten cts vs 17 cts
Net 1,225,000 vs 2,161,000
Revs 26.5 mln vs 23.3 mln
| Corporate News |
CENTERIOR ENERGY CORP <CX> SETS QUARTERLY
| Qtly div 64 cts vs 64 cts prior
Pay May 15
Record April 16
| Financial Reports |
SUFFIELD FINANCIAL CORP <SFCP> RAISES QUARTERLY
| Qtly div five cts vs three cts prior
Pay April 10
Record March 31
| Corporate News |
CYACQ CUTS CONDITIONS ON CYCLOPS <CYL> BID
| Cyacq Corp, an investor group bidding
for Cyclops Corp, said it amended its outstanding 92.50 dlrs a
share tender offer for Cyclops to eliminate two conditions and
modify a third one.
The group, which includes Audio/Video Affiliates Inc and a
unit of Citicorp <CCI>, said it also obtained additional
... | Other |
TIN PACT EXTENSION LIKELY - ITC DELEGATES
| An extension of the sixth International
Tin Agreement, ITA, for one or two years beyond June 30 is
increasingly likely, International Tin Council, ITC, delegates
said following a special council session today.
A formal decision will be taken at the quarterly council
session on April 8-9 when decisions a... | Other |
SIGMA RESEARCH ONC <SIGR> 2ND QTR DEC 31 LOSS
| Shr loss 27 cts vs profit one ct
Net loss 532,376 vs profit 15,584
Revs 1,899,719 vs 2,432,256
Six mths
Shr loss 78 cts vs profit two cts
Net loss 1,521,002 vs profit 30,145
Revs 3,235,907 vs 5,276,119
Note: year ago net includes gain from tax carryforwards of
5,000 dlrs in... | Other |
JAPAN MOVES TO TIGHTEN CHIP-EXPORT CURBS
| The Ministry of International Trade and
Industry (MITI) acted to tighten restrictions on microchip
exports to countries other than the U.S. To preserve a
U.S.-Japan pact on semiconductor trade, but major Japanese
chipmakers doubt its usefulness.
A MITI spokesman said his ministry had asked chipmakers to... | Other |
KODAK <EK> TO CUT POLYESTER FIBER OPERATIONS
| Eastman Kodak Co said it will
reduce capacity and employment levels in two polyester fiber
operations of its Eastman Chemicals division.
A company spokesman said the company will take "some
writeoff" in connection with the action in the first quarter
and there will probably be a further "carryover" writ... | Financial Reports |
HEAVY SIGNUP SEEN IN 1987 CORN PROGRAM - USDA
| With less than a week remaining to
enroll in the 1987 feedgrains program, Agriculture Department
officials said that final signup will probably exceed last
year's level of 85 pct.
Enrollment in USDA's basic acreage reduction program will
likely total close to 90 pct, Agricultural Stabilization and
Con... | Financial Reports |
ILLINOIS CO-OP FUTURES DISSOLUTION VOTE SET
| The shareholders of Illinois
Cooperative Futures Co., the futures trading arm of many
Midwest farm cooperatives for more than 25 years, will vote
Wednesday on its possible dissolution.
The directors of the company called a special meeting and
recommended its dissolution last month, citing falling volume... | Financial Reports |
CONRAC <CAX> SOARS FOLLOWING MARK IV <IV> BID
| Heavy buying by speculators boosted
Conrac Corp 7-7/8 to 29, higher than a 25-dlr-per-share cash
tender offer announced by Mark IV Industries Inc <IV>.
"It's a case of ChemLawn euphoria," said one arbitrageur,
referring to a recent hostile tender that began at 27 dlrs per
share and ended when ChemLaw... | Corporate News |
LASER PHOTONICS <LAZR> SELLS COMMON SHARES
| Laser Photonics Inc said it sold
615,385 shares of its common stock to investors for one mln
dlrs under a previously-announced agreement.
In connection with the investment, the company said it will
restructure its board. There will be eight members, three of
whom were designated by the new investors, th... | Other |
CROWLEY, MILNER AND CO<COM> 4TH QTR JAN 31 NET
| Shr 4.11 dlrs vs 3.51 dlrs
Net 2,091,000 vs 1,785,000
Sales 38.8 mln vs 34.3 mln
Year
Shr 3.42 dlrs vs 3.57 dlrs
Net 1,740,000 vs 1,815,000
Sales 113.0 mln vs 104.1 mln
Qtly div 25 cts vs 25 cts previously
Pay April 30
Record April 15
| Commodities and Trade |
CONRAC <CAX> URGES NO ACTION ON BID
| Conrac Corp said it is asking
shareholders to take no action on the 25-dlr-per-share tender
offer for all its shares launched this morning by Mark IV
Industries Inc <IV>.
The company said its board will study the offer with
financial and legal advisors and make a recommendation to
shareholders by A... | Commodities and Trade |
<D'OR VAL MINES LTD> FINDS HIGH-GRADE ORDER
| D'Or Val Mines Ltd said a recent
drill hole from the surfrace has intersected high-grade ore in
a downdip extension of the Discovery Vein in its D'Or Val Mine
in northern Quebec.
The company said 42.3 feet of the hole graded 0.92 ounce
per short ton of gold, including a 17.5 foot section grading
2.17 ... | Corporate News |
FINNISH UNEMPLOYMENT AT 6.7 PCT IN DECEMBER
| Finnish unemployment was 6.7 pct in
December last year compared with 6.8 pct in November and 6.1
pct in December 1985, the Central Statistical Office said.
It said 173,000 people were unemployed in December 1986,
174,000 in November and 157,000 in December 1985.
| Other |
BRAZILIAN SEAMEN SAY 14,000 NOW BACK AT WORK
| About 14,000 of Brazil's 40,000
seamen are now back at work after pay accords with 21 shipping
companies but the rest are still on strike, a spokesman at
strike headquarters said today.
The seamen began a national stoppage on February 27.
The spokesman, talking by telephone from Rio de Janeiro,
sa... | Financial Reports |
FED BUYS 500 MLN DLRS OF BILLS FOR CUSTOMER
| The Federal Reserve purchased about
500 mln dlrs of U.S. Treasury bills for a customer, a
spokeswoman said.
She said that the Fed bought bills maturing in June and
July, and on August 27 and September 10 for regular delivery
tomorrow.
Dealers said that Federal funds were trading at 6-1/8 pct
whe... | Financial Reports |
PENN TRAFFIC CO <PNF> 4TH QTR JAN 31 NET
| Shr 33 cts vs 46 cts
Net 1,350,000 vs 1,886,000
Revs 150.1 mln vs 127.9 mln
Year
Shr 1.76 dlr vs 1.59 dlr
Net 7,300,000 vs 6,567,000
Revs 548 mln vs 510.5 mln
NOTE: First three quarters of 1986 have been restated to
reflect adoption in 4th qtr of new pension accounting proc... | Financial Reports |
CALUMET INDUSTRIES <CALI> SEES 2ND QTR LOSS
| Calumet Industries Inc said it expects
to report a loss from operations for its second quarter ending
March 31, despite a strong unit sales increase.
In the same year-ago period the company reported net income
of 366,953 dlrs, or 18 cts a share.
Chairman S. Mark Salvino said the expected loss is
p... | Financial Reports |
BANKERS SEE SHARP RISE IN THAI FOREIGN RESERVES
| Thailand's improving economy will likely
cause foreign reserves to increase to at least five billion
dlrs by end-1987 from a record of nearly 4.2 billion at
end-February, private bankers said.
Bank of Thailand statistics show foreign reserves rose to
3.95 billion at end-January from 3.03 billion a year ... | Commodities and Trade |
COCOA BUFFER STOCK ACCORD CLOSER, DELEGATES SAY
| The International Cocoa Organization
(ICCO) moved closer to an agreement on buffer stock rules, with
many delegates saying they expect to reach an accord by Friday.
"Everyone is convinced the buffer stock rules should be in
place by Friday so the buffer stock can be put into operation
Monday," a consume... | Corporate News |
FINANCIAL CORP <FIN> NOT HOLDING BUYOUT TALKS
| Financial Corp of America said
it is not holding discussions with anyone regarding a buyout of
the company.
But a spokeswoman pointed out that Financial Corp has said
publicly for nearly two years that in the company's view a
merger would be one method of increasing the company's capital.
"If an o... | Commodities and Trade |
PDVSA INCOME ON OIL SALES FELL 45 PCT IN 1986
| The state oil company Petroeleos de
Venezuela ended 1986 with a decrease of 45 pct in income from
oil sales even though it surpassed its own export goal by
almost 100,000 barrels a day, Minister of Energy and Mines
Arturo Hernandez Grisanti said.
Speaking to a news conference following the PDVSA annual
... | Financial Reports |
AMERICAN NETWORK INC <ANWI> DEC 31 YEAR NET
| Shr profit 16 cts vs loss 1.40 dlrs
Net profit 3,000,000 vs loss 6,570,000
Revs 91.7 mln vs 66.9 mln
Avg shrs 19,078,072 vs 4,708,896
Note: Current year net includes nine mln dlr net gain from
settlement of litigation.
| Corporate News |
SIGNET BANKING CORP REGULAR DIVIDEND
| Qtly div 31 cts vs 31 cts prior
Payable APril 22
Record April three
| Corporate News |
MOTT'S SUPER MARKETS INC <MSM> 4TH QTR JAN 3
| Shr loss 15 cts vs loss 1.12 dlrs
Net loss 414,331 vs loss 3.1 mln
Revs 73.8 mln vs 69.1 mln
Year
Shr loss 99 cts vs loss 1.69 dlr
Net loss 2.7 mln vs loss 4.7 mln
Revs 276.9 mln vs 290.1 mnln
| Financial Reports |
SWEDEN HAS CURRENT PAYMENTS SURPLUS IN 1986
| Sweden had a 1986 current balance of
payments surplus of 7.6 billion crowns compared with a deficit
of 10.1 billion the preceding year, according to preliminary
figures from the central bank.
The December current account had a 100 mln crowns deficit
against a yearago 200 mln deficit.December trade balan... | Other |
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