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U.S. SENATE PANEL APPROVES TRADE MISSION BILL
| The U.S. Senate Agriculture
Committee approved a bill that would establish farm trade and
aid missions to promote the use of U.S. food aid, donation,
credit and export subsidy programs by overseas customers.
The bill, approved by voice vote, would establish trade
missions made up of representatives of t... | Financial Reports |
BAT SHARES UNDERVALUED, SAY STOCK MARKET ANALYSTS
| BAT Industries Plc <BTI.L> 1986 results,
which were at the upper end of market expectations, showed the
company was in a strong position and that its shares were
probably undervalued, share analysts said.
BAT shares were down at 524p in late afternoon trading
after a previous 535p close. They touched... | Market and Economy |
WOOLWORTH, UNDERWOODS FAIL TO AGREE ON BID
| <Underwoods Plc> said it had not been
possible to agree terms on a bid to be made by Woolworth
Holdings Plc <WLUK.L> during talks.
The two companies had been holding exploratory discussions.
No spokesman for either company was immediately available to
say why terms could not be agreed, nor whether... | Corporate News |
REICHHOLD <RCI> EXPLORING SALE OF EUROPEAN UNIT
| Reichhold Chemicals Inc said
it is exploring the sale of its stake in its European
subsidiary Reichhold Chemie AG.
Reichhold Chemie Ag, headquartered in Rausen, Switzerland,
had sales in excess of 75 mln dlrs last year. It is 83 pct
owned by Reichhold. The rest is owned by German and Swiss
shareholder... | Financial Reports |
UAL SAID DONALD TRUMP WAS INTERESTED IN UAL STOCK "AS INVESTMENT"
|
UAL SAID DONALD TRUMP WAS INTERESTED IN UAL STOCK "AS INVESTMENT"
| Market and Economy |
INT'L BROADCASTING <IBCA> SETS REVERSE SPLIT
| International Broadcasting
Corp said shareholders at its annual meeting approved a one for
25 reverse stock split.
The split will be effective after completion of filing
requirements, it said. New certificates will be needed, it
added.
The media company said it currently has 40,950,000 common
sh... | Corporate News |
BI INC <BIAC> SETS REVERSE SPLIT
| BI Inc said it is implementing a
one-for-15 reverse split to shareholders of record today.
It said any fractional shares will be redeemed for cash,
reducing its free-trading stock in public hands to 1,300,000
shares from 20 mln and its total shares outstanding to
1,993,000 from 29.9 mln.
Sharehold... | Corporate News |
BALDRIGE SAYS JAPAN MUST OPEN ITS MARKETS
| Commerce Secretary Malcolm Baldrige
said the United States will not stand idly by and let Japan
dominate the world electronics market.
Baldrige told the Senate Finance Committee the United
States would insist Japan open its markets to U.S. products as
the U.S. market is open to Japanese products.
... | Financial Reports |
BASF CORP YEAR NET
| Net 105 mln dlrs vs 39 mln
Sales 3.6 billion vs 2.6 billion
NOTE: Wholly-owned by <BASF AG> of West Germany.
| Financial Reports |
NO BUNDESBANK POLICY CHANGES EXPECTED THURSDAY
| The Bundesbank is unlikely to change
its credit policies at its central bank council meeting on
Thursday, as exchange rates and short-term interest rates have
stabilized over the past few weeks, money market dealers said.
Attention in the money market is focused on tomorrow's
tender for a securities rep... | Financial Reports |
MONTANA POWER CO <MTP> VOTES QUARTERLY DIVIDEND
| Qtly div 67 cts vs 67 cts prior qtr
Pay 30 April
Record 10 April
| Financial Reports |
UAL <UAL> SAID TRUMP TALKED WITH UAL CHAIRMAN
| Real estate magnate Donald Trump told
UAL Inc Chairman Richard Ferris that he was interested in UAL
stock as an investment, according to a UAL executive.
Trump, who was unavailable for comment, is believed by
market sources to have a sizeable position in UAL, which he
began accumulating several weeks ag... | Financial Reports |
TEAM INC <TMI> 3RD QTR FEB 28 NET
| Shr profit five cts vs loss 18 cts
Net profit 91,000 vs loss 355,000
Revs 11.5 mln vs 11.7 mln
Nine mths
Shr profit six cts vs loss 1.45 dlrs
Net profit 127,000 vs loss 2,846,000
Revs 31.8 mln vs 34.9 mln
| Financial Reports |
TODD SHIPYARDS CORP OMITS QTLY COMMON DIV, SETS PREFERRED PAYOUT
|
TODD SHIPYARDS CORP OMITS QTLY COMMON DIV, SETS PREFERRED PAYOUT
| Corporate News |
RSI CORP <RSIC> 2ND QTR FEB 28 NET
| Shr 33 cts vs 13 cts
Net 2,266,000 vs 849,000
Revs 24.1 mln vs 16.0 mln
1st half
Shr 61 cts vs 24 cts
Net 4,236,000 vs 1,619,000
Revs 47.4 mln vs 33.5 mln
NOTE: Share after stock splits.
Net includes discontinued operations loss four cts shr vs
nil in quarter and loss... | Corporate News |
RCM TECHNOLOGIES INC <RCMT> 1ST QTR JAN 31 LOSS
| Shr loss one ct vs loss one ct
Net loss 89,844 vs loss 85,731
Revs 3,384,726 vs 4,646,285
| Market and Economy |
MCCLAIN INDUSTRIES INC <MCCL> 1ST QTR DEC 31 NET
| Shr 24 cts vs 13 cts
Net 380,325 vs 211,183
Sales 5,046,578 vs 3,941,764
NOTE: Current year net includes gain from sale of Sterling
Heights, Mich., plant of 174,000 dlrs. Another 698,000 dlrs of
gain from sale sale has been treated as deferred income.
| Corporate News |
U.K. MONEY MARKET SHORTAGE FORECAST REVISED UP
| The Bank of England said it revised up
its forecast of the shortage in the money market today to
around 500 mln stg from its initial estimate of 350 mln.
| Corporate News |
SYNALLOY <SYO> ENDS PLANS TO SELL UNIT
| Synalloy Corp said it has
ended talks on the sale of its Blackman Uhler Chemical Division
to Intex Products Inc because agreement could not be reached.
The company said it does not intend to seek another buyer.
| Market and Economy |
C-I-L ACQUIRING TRIMAC'S STAKE IN TRICIL
| <C-I-L Inc> said it would exercise its
right to acquire <Trimac Ltd>'s stake in their jointly owned
Tricil Ltd for 91 mln dlrs, with closing expected May 22.
C-I-L added that the final price could be less, however,
depending on an Ontario court ruling resulting from a
previously reported legal act... | Market and Economy |
EC INFLATION STARTS TO RISE AGAIN IN FEBRUARY
| Inflation in the European Community,
which fell to its lowest since the 1960s between November and
January, started to take off again last month, figures from the
EC statistics office Eurostat showed.
Consumer prices were on average three pct higher than in
February 1986, the office said. This compared ... | Other |
PANTERA'S <PANT> TO BUY TEN PIZZA RESTAURANTS
| Pantera's Corp said it agreed to
buy ten pizza restaurants in southeastern Colorado from
creditors foreclosing on the facilities.
The purchase price includes 1.25 mln dlrs in cash and
company stock, it said.
Separately, Pantera's said it issued an area development
agreement with a franchisee group... | Corporate News |
ALLIED-SIGNAL INC TO SELL LINOTYPE GROUP TO COMMERZBANK OF WEST GERMANY
|
ALLIED-SIGNAL INC TO SELL LINOTYPE GROUP TO COMMERZBANK OF WEST GERMANY
| Corporate News |
ENERGY/U.S. OIL OUTPUT
| Energy Secretary John Herrington has
proposed several ways to boost U.S. oil production, but he said
all would cost the Treasury money and will come under close
White House scrutiny before action is taken.
One measure he said he favored would raise the depletion
allowance to 27.5 pct on new oil and gas ... | Financial Reports |
TODD SHIPYARDS <TOD> OMITS COMMMON DIVIDEND
| Todd Shipyards Corp said it
omitted payment of the quarterly dividend on its common stock
and lowered the dividend on its series A preferred stock to 75
cts from 77 cts a share.
Todd said the 75 ct preferred dividend will be paid May one
to shareholders of record April 15.
The company said it omit... | Corporate News |
IMO DELAVAL <IMD> SETS INITIAL DIVIDEND
| Imo Delaval said its board
declared an initial quarterly dividend of 14 cts per share,
payable April 24 to holders of record on April 6.
| Financial Reports |
PAKISTAN TO RETENDER FOR RBD PALM OIL TOMORROW
| Pakistan will retender for 6,000 tonnes
of refined bleached deodorised palm oil for second half March
shipment tomorrow, after failing to take up offers today, palm
oil traders said.
| Financial Reports |
NATIONAL COMPUTER SYSTEMS INC <NLCS>4TH QTR NET
| Shr 25 cts vs 31 cts
Net 4,798,000 vs 5,380,000
Revs 65.3 mln vs 58.2 mln
Avg shrs 19.2 mln vs 17.5 mln
Year
Shr 84 cts vs 89 cts
Net 15,750,000 vs 15,191,000
Revs 262.1 mln vs 215.8 mln
Avg shrs 18.8 mln vs 17.1 mln
| Commodities and Trade |
ALLIED-SIGNAL <ALD> TO SELL LINOTYPE UNIT
| Allied-Signal Inc said it
agreed to sell its Linotype Group unit to <Commerzbank AG>
of West Germany for an undisclosed amount.
Allied-Signal said Commerzbank is expected to offer shares
of the unit to the public later this year.
The company said the agreement is subject to approval by
the gove... | Commodities and Trade |
CONTINENTAL HEALTH AFFILIATES INC <CTHL> 4TH QTR
| Shr 10 cts vs five cts
Net 512,000 vs 230,000
Revs 16.8 mln vs 9,025,000
Year
Shr 55 cts vs 34 cts
Net 2,662,000 vs 1,541,000
Revs 57.5 mln vs 32.3 mln
| Corporate News |
CANADA SETS OIL INDUSTRY AID PACKAGE
| Canada's federal government
will provide a 350 mln dlr oil industry aid package that
includes cash incentives designed to cover one-third of a
company's oil and gas exploration and development costs, Energy
Minister Marcel Masse announced.
The aid program will inject about 350 mln dlrs a year into
the... | Corporate News |
MOBIL PLANS TO OPEN OFFICE IN PEKING
| Mobil Oil Corp of U.S. Plans to open an
office in Peking to develop oil exploration opportunities in
China, the China Daily said.
It quoted Mobil president Richard Tucker, currently in
Peking, as saying he is optimistic about investment prospects
in China and that Peking will continue to encourage fore... | Financial Reports |
COCOA TALKS SLOW AT CRUCIAL STAGE - DELEGATES
| International Cocoa Organization (ICCO)
talks on buffer stock rules have slowed during a crucial phase
of negotiations, delegates said, but they remained confident
about prospects for reaching agreement by Friday.
Cocoa producers, European Community (EC) consumers and all
consumers separately reviewed t... | Other |
NEWMONT GOLD <NGC> SEES GOLD SALES RISING
| Newmont Gold Corp expects gold sales
in 1987 to rise about 22 pct to 577,000 ounces from 1986's
474,000 ounces, the company said in its annual report.
Newmont Gold, 95 pct owned by Newmont Mining Corp <NEM>,
said it expects significant increases in gold sales in 1988 and
1989 as well.
| Corporate News |
MESSIDOR TO MERGE WITH TRITON BELEGGINGEN
| Messidor Ltd said it signed a letter
of intent to acquire 100 pct of the outstanding shares of
Triton Beleggineng Nederland B.V., a European investment
portfolio management company.
If approved, two mln shares of stock held by the Messidor
Ltd officers and directors would be issued to Triton
sharehold... | Corporate News |
ENCOR ENERGY CORP INC YR NET LOSS 406.6 MLN VS PROFIT 35.4 MLN
|
ENCOR ENERGY CORP INC YR NET LOSS 406.6 MLN VS PROFIT 35.4 MLN
| Corporate News |
MIDDLE SOUTH <MSU> TO FORM NEW DIVIDEND POLICY
| Middle South Utilities Inc is taking a
conversative approach to formulating a new common stock
dividend policy, chairman Edwin Lupberger said.
He told securities analysts that when the company's common
dividend is resumed, "the initial rate will appear conservative
to you by industry standards and in re... | Financial Reports |
TWA SOLD FOUR MLN SHARES OF USAIR BELIEVED TO INSTITUTIONS, WALL STREET SOURCES
|
TWA SOLD FOUR MLN SHARES OF USAIR BELIEVED TO INSTITUTIONS, WALL STREET SOURCES
| Financial Reports |
U.S. SUGAR POLICY MAY SELF-DESTRUCT, CONGRESSMAN
| A leading U.S. farm-state
Congressman, Jerry Huckaby, D-La., warned he will press next
year for legislation to control domestic production of
sweeteners, perhaps including corn sweeteners, if the industry
fails to voluntarily halt output increases this year.
"We're moving toward a direction where we cou... | Other |
INVESTORS INCREASE STAKE IN FROST, SULLIVAN
| One of a pair of private investors
in Frost and Sullivan Inc told the Securities and Exchange
Commission he increased his stake in the firm by about two pct,
to 15.4 pct.
He is Theodore Cross, Princeton, N.J., editor of Business
and Society Review.
The other investor is Mason Slaine, Cos Cob, Mass... | Corporate News |
LIBERIAN ORE CARRIER IN COLLISION IN RIVER ELBE
| The Liberian motor bulk carrier, Trave
Ore, 106,490 dwt, loaded with ore, and the 2,852 dwt West
German motor vessel Christa, collided late last night on the
River Elbe near buoy 129, Lloyds Shipping Intelligence said.
The Trave Ore proceeded by its own means to Hamburg. The
Christa was taken in tow wit... | Commodities and Trade |
HERSHEY OIL CORP <HSO> 4TH QTR LOSS
| Shr loss 19 cts vs loss 2.37 dlrs
Net loss 1,140,000 vs loss 13,608,000
Revs 1,069,000 vs 1,940,000
Year
Shr loss 53 cts vs loss 2.34 dlrs
Net loss 3,012,000 vs loss 13,433,000
Revs 4,945,000 vs 6,705,000
| Other |
EG AND G INC <EGG> SETS QUARTERLY
| Qtly div 14 cts vs 14 cts prior
Pay May Eight
Record April 17
| Other |
<ENCOR ENERGY CORP INC> YEAR LOSS
| Shr not given
Net loss 406.6 mln vs profit 35.4 mln
Revs 138.1 mln vs 211.9 mln
Note: 1986 net includes 545.7 mln dlr asset writedown
before 139.2 mln dlr recovery of deferred taxes.
48 pct-owned by Dome Petroleum Ltd <DMP>.
| Commodities and Trade |
BRAZILIAN LABOUR UNREST SPREADS, MANY BANKS SHUT
| Brazil's labour unrest is spreading,
with many banks, universities and government statistical
offices on strike and more pay disputes looming.
Bankworkers' leaders said that a national strike launched
yesterday to press for a 100 pct immediate pay rise and monthly
salary adjustments had the support of m... | Corporate News |
<ASTA GROUP INC> UNIT IN LOAN PURCHASE
| Asta Group Inc said its 50 pct
owned Liberty Service Corp affiliate has purchased about 50 mln
dlrs face value of credit card installment receivables from a
major financial institution it did not name for a significant
discount from face value.
It said the portfolio consists mostly of charged off loans.... | Financial Reports |
ARDEN INTERNATIONAL <AIKI> 4TH QTR DEC 27 NET
| Oper shr one ct vs two cts
Oper net 30,000 vs 62,000
Revs 2,315,000 vs 2,355,000
Year
Oper shr four cts vs nine cts
Oper net 95,000 vs 204,000
Revs 9,214,000 vs 9,950,000
Avg shrs 2,492,000 vs 2,351,000
NOTE: Full name is Arden International Kitchens Inc
More
| Financial Reports |
TWA <TWA> SELLS POSITION IN USAIR <U>
| Trans World Airlines Inc sold four mln
shares it held in USAir Group Inc, Wall Street sources said.
The sources said the buyers are believed to be a group of
institutions.
Bear Stearns handled the trade. It crossed the four mln
shares at 45, off 1/8. Bear Stearns would not comment on buyers
or sellers... | Financial Reports |
COMBUSTION ENGINEERING<CSP> SEES 1ST QTR NET OFF
| Combustion Engineering Inc said
it expects first quarter earnings to be 20 to 25 pct below the
year-ago 13.6 mln dlrs, mainly due to financing costs resulting
from the January 1987 acquisition of AccuRay Corp.
The company said it has filed for an offering of four mln
common shares and 150 mln dlrs of su... | Financial Reports |
NEWMONT GOLD SEES ITS SALES RISING 22 PCT
| Newmont Gold Corp expects gold sales
in 1987 to rise about 22 pct to 577,000 ounces from 1986's
474,000 ounces, the company said in its annual report.
Newmont Gold, 95 pct owned by Newmont Mining Corp, said it
expects significant increases in gold sales in 1988 and 1989 as
well.
| Commodities and Trade |
Unilever Plc and Nv combined 1986 pre-tax profit 1.14 billion stg vs 953 mln.
|
Unilever Plc and Nv combined 1986 pre-tax profit 1.14 billion stg vs 953 mln.
| Commodities and Trade |
25-MAR-1987
| 25-MAR-1987
| Financial Reports |
TREASURY'S BAKER SAYS EXCHANGE RATE CHANGES WILL REDUCE TRADE DEFICIT THIS YEAR
|
TREASURY'S BAKER SAYS EXCHANGE RATE CHANGES WILL REDUCE TRADE DEFICIT THIS YEAR
| Other |
GATEWAY SPORTING BUYS INNOVATIVE DENTAL
| Gateway Sporting Goods Co said it
acquired all of the shares of stock of Innovative Dental
Services Inc for an undisclosed amount of cash.
Gateway said the acquired company has contracts with 102
dentists in 144 locations.
| Commodities and Trade |
TREASURY'S BAKER SEES CUT IN TRADE DEFICIT
| Treasury Secretary James Baker said
the administration is confident the effect of exchange rate
changes will bring about a cut in the trade deficit this year.
In testimony before the Senate Committee on Governmental
Affairs, Baker conceded that the effect thus far has "not yet
proved as quick or as stro... | Financial Reports |
CYCLOPS CORP REFORMS BOARD AFTER DIXONS GROUP FAILS TO GET MAJORITY OF CYCLOPS STOCK
|
CYCLOPS CORP REFORMS BOARD AFTER DIXONS GROUP FAILS TO GET MAJORITY OF CYCLOPS STOCK
| Commodities and Trade |
U.S. BANK NET FREE RESERVES 644 MLN DLRS IN TWO WEEKS TO FEB 25, FED SAYS
|
U.S. BANK NET FREE RESERVES 644 MLN DLRS IN TWO WEEKS TO FEB 25, FED SAYS
| Corporate News |
PAN ATLANTIC RE INC <PNRE> 4TH QTR NET
| Oper shr 15 cts vs 1.07 dlrs
Oper net 372,000 vs 2,601,000
Year
Oper shr 80 cts vs 61 cts
Oper net 1,952,000 vs 1,491,000
NOTE: Net excludes realized investment loss 13,000 dlrs vs
gain 986,000 dlrs in quarter and gains 1,047,000 dlrs vs
1,152,000 dlrs in year.
1986 year net ex... | Financial Reports |
QUAKER CHEMICAL CORP <QCHM> SETS QUARTERLY
| Qtly div 12-1/2 cts vs 12-1/2 cts prior
Pay April 30
Record April 17
| Commodities and Trade |
MIDDLE SOUTH <MSU> TO CONSIDER DIVIDEND
| Middle South Utilities Inc will not
consider payment of a common stock dividend until there is
another ruling on a Mississippi Supreme Court order rolling
back rates at the company's Mississippi Power and Light Co
subsidiary, chairman Edwin Lupberger said.
He told security analysts Middle South was clos... | Other |
BELGIUM PLANS TO OUTLAW INSIDER TRADING
| A Belgian finance ministry spokesman
said new rules planned on insider trading would enable
offenders to be fined and imprisoned for up to a year, and be
compelled to forfeit gains.
The new rules require parliamentary approval, and
government sources said it was unclear when they would come
into force... | Financial Reports |
OWENS-CORNING FIBERGLAS <OCF> SELLS FOAM UNIT
| Owens-Corning Fiberglas Corp said
it sold its controlling interest in its French foam insulation
producing subsidiary to a Lafarege Corp <LAF> subsidiary.
Owens-Corning said it sold its interest in Sentuc Porxpan
SA for an undisclosed price.
| Financial Reports |
U.S. SHOE INC 4TH QTR SHR 31 CTS VS 56 CTS
|
U.S. SHOE INC 4TH QTR SHR 31 CTS VS 56 CTS
| Financial Reports |
TREASURY'S BAKER OUTLINES TRADE BILL CRITICISMS
| Treasury Secretary James Baker said
that some of the trade bills proposed by Congress conflict
significantly with certain basic principles the Reagan
administration considers critical.
Baker told a Senate committee that the administration would
resist such measures as a general import surcharge,
secto... | Corporate News |
U.S. SHOE CORP <USR> 4TH QTR JAN 31 NET
| Shr 31 cts vs 56 cts
Net 13.7 mln vs 25.2 mln
Sales 610.9 mln vs 575.9 mln
Avg shrs 45.0 mln vs 44.8 mln
Year
Shr 57 cts vs 1.46 dlrs
Net 25.5 mln vs 64.9 mln
Sales 2.00 billion vs 1.92 billion
Avg shrs 45.0 mln vs 44.5 mln
NOTE: Current year net both periods incl... | Financial Reports |
OPEC WITHIN OUTPUT CEILING, SUBROTO SAYS
| Opec remains within its agreed output
ceiling of 15.8 mln barrels a day, and had expected current
fluctuations in the spot market of one or two dlrs, Indonesian
Energy Minister Subroto said.
He told reporters after meeting with President Suharto that
present weakness in the spot oil market was the resul... | Commodities and Trade |
ARGENTINE SOYBEAN YIELD ESTIMATES DOWN FURTHER
| Argentine grain producers again
reduced their estimates for the total yield of the 1986/87
soybean crop, which will begin to be harvested in mid-April,
trade sources said.
They said growers now forecast soybean production this
season at between 7.5 and 7.8 mln tonnes, down from last week's
estimate of... | Market and Economy |
VERTEX INDUSTRIES INC <VETX> 2ND QTR JAN 31 NET
| Oper shr loss three cts vs loss four cts
Oper loss 40,870 vs loss 39,827
Revs 584,855 vs 727,432
Six mths
Oper shr loss two cts vs loss two cts
Oper loss 24,311 vs loss 26,947
Revs 1,246,992 vs 1,497,251
NOTE: Current periods exclude net gain of 150,865 dlrs from
terminatio... | Financial Reports |
CYCLOPS <CYL> SAYS DIXONS APPOINTEES RESIGN
| Cyclops Corp said the three
members of its board appointed last week by <Dixons Group PLC>
had resigned and that it named three Cyclops executives to
replace them.
Cyclops said the moves followed the announcement earlier
today by Dixons that it received only 20 pct of Cyclops
outstanding common sto... | Financial Reports |
ECUADOR NEGOTIATES WITH NIGERIA FOR LENDING OIL
| Earthquake-stricken Ecuador is
negotiating with Nigeria to have the African country lend it
10,000 barrels per day (bpd) of crude for export, Deputy Energy
Minister Fernando Santos Alvite told Reuters.
He said Ecuador was negotiating a shipments schedule and
the terms of repaying the loan. Ecuador has s... | Other |
U.K. MONEY MARKET GIVEN 24 MLN STG ASSISTANCE
| The Bank of England said it provided 24
mln stg help to the money market in the morning session.
This compares with the bank's upward revised shortage
forecast of around 500 mln stg.
The central bank purchased bank bills outright comprising
two mln stg in band one at 10-7/8 pct and 22 mln stg in ban... | Corporate News |
NORTHERN STATES POWER CO <NSP> VOTES QUARTERLY
| Qtly div 47-1/2 cts vs 47-1/2 cts prior qtr
Pay 20 April
Record 6 April
| Market and Economy |
SUMMIT TAX EXEMPT BOND FUND <SUA> SETS PAYOUT
| Qtrly div 40 cts vs 40 cts prior
Pay Aug 14, 1987
Record April One, 1987
| Market and Economy |
U.S. SENATE TRADE LEADER CONCERNED ABOUT CANADA
| The chairman of the U.S. Senate
committee with jurisdiction over trade said he was concerned
about a resolution on bilateral trade negotiations adopted by
the Canadian House of Commons last week.
The resolution supports negotiation of a bilateral trading
agreement with the United States while protecting... | Market and Economy |
BAKER SAYS U.S. WILLING TO COOPERATE TO STABILIZE EXCHANGE RATES
|
BAKER SAYS U.S. WILLING TO COOPERATE TO STABILIZE EXCHANGE RATES
| Commodities and Trade |
BAKER SAYS U.S. WANTS TO STABILIZE EXCHANGE RATES
| Treasury Secretary James Baker said
the United States and other nations were willing to cooperate
to stabilize foreign exchange rates at the levels that existed
at the time of an international agreement last month.
"Our position with respect to the dollar goes back to the
Paris Agreement that the curren... | Corporate News |
FIRST FEDERAL DELAWARE AGREEMENT EXTENDED
| <First Federal Savings Bank>
of Delaware said its agreement to negotiate exclusively for its
sale with <Oxford Financial Group> has been extended until
April 8 from March 18.
The company said it is in the final stages of talks with
Oxford over the terms of the proposed acquisition. Under a
nonb... | Financial Reports |
EDELMAN GROUP IN PLAN TO BUY MORSE SHOE <MRS>
| A group led by New York investor
Asher Edelman said Morse Shoe Inc agreed to provide it
confidential company information and that his group would make
an offer to buy Morse only in a friendly, negotiated deal.
The group also said in a filing with the Securities and
Exchange Commission that its members w... | Corporate News |
JOHN LABATT SEES GOOD FOURTH QUARTER, YEAR
| <John Labatt Ltd> anticipates a good
fourth quarter and a new peak in sales and earnings for the
fiscal year ending April 30, president Peter Widdrington told
financial analysts.
He would not make any specific forecast, but said he was
optimistic for further growth in fiscal 1988 in the company's
b... | Commodities and Trade |
HUSKY <HYO> SETS MEETING TO APPROVE MERGER
| Husky Oil Ltd said the board
called a special meeting for April 22 for shareholders to vote
on its previously announced agreement for Hong Kong-based
Hutchison Whampoa Ltd and Hongkong Electric Holdings Ltd to
acquire a 43 pct interest in the company.
The acquisition requires two-thirds approval by Husk... | Other |
WASHINGTON GAS LIGHT CO <WGL> HIKES PAYOUT
| Qtly div 45 cts vs 44 cts prior
Pay May one
Record April 10
| Commodities and Trade |
FERC DECISION COULD CUT COLUMBIA GAS <CG> NET
| Columbia Gas System Inc said a
Federal Energy Regulatory Commission decision today on natural
gas cost recovery could reduce its 1987 earnings by about 1.25
dlrs a share.
The company said "this could bring earnings for 1987 below
Columbia's stated goal of earning no less than its 3.18 dlrs
per share d... | 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... | Corporate News |
U.S. OFFERS MORE CREDITS FOR VEG OIL TO N. YEMEN
| The U.S. Commodity Credit
Corporation (CCC) has authorized an additional 10.0 mln dlrs in
credit guarantees to cover sales of U.S. vegetable oils to
North Yemen, the U.S. Agriculture Department said.
The department also said at the request of the North Yemen
Government five mln dlrs in credit guarantees... | Other |
PUERTO RICAN CEMENT CO <PRN> SETS PAYOUT
| Qtly div five cts vs five cts prior
Pay May 13
Record April 14
NOTE: Company said up to 20 pct of dividend payment may be
withheld in accordance with Puerto Rico tax law.
| Financial Reports |
CANADA MAY MONITOR STEEL SHIPMENTS
| Canada may begin monitoring steel
flowing in and out of the country to determine if any steel is
being illegally "trans-shipped" to the U.S., senior government
trade officials said.
The officials, asking not to be identified, said the
government will investigate an industry contention that steel
impo... | Corporate News |
WESCO FINANCIAL CORP <WSC> 4TH QTR NET
| Shr 79 cts vs 5.05 dlrs
Net 5,628,000 vs 35,936,000
Revs 41.8 mln vs 39.4 mln
Year
Shr 2.32 dlrs vs 7.24 dlrs
Net 16,524,000 vs 51,541,000
Revs 160.2 mln vs 114.9 mln
Note: Current qtr figures include securities gain of 2.1
mln dlrs, or 29 cts per share, vs gain of 34.3 ml... | Commodities and Trade |
HELM <H> SELLS ADDITIONAL SHARES IN BAMBERGER
| Helm Resources Inc said that, pursuant
to the exercise of an overallotment option by underwriters in
Bamberger Polymers INc's initial public offering, it has sold
another 35,000 Bamberger shares and reduced its ownership in
Bamberger to 51 pct from 55 pct.
To date, Helm has sold 435,000 Bamberger's for ... | Other |
AMPAL-AMERICAN ISRAEL CORP <AIS.A> YEAR NET
| Shr 27 cts vs 25 cts
Net 6,416,000 vs 5,988,000
Revs 112.2 mln vs 99.8 mln
NOTE: 1985 includes extraordinary income of 647,000 dlrs or
three cts/shr. 1985 restated.
| Financial Reports |
COCOA COUNCIL CHAIRMAN SEEKS BUFFER COMPROMISE
| International Cocoa Organization, ICCO,
Council chairman, Denis Bra Kanon, said he will attempt to
reach a compromise on buffer stock rules for the International
Cocoa Agreement.
Bra Kanon called for bilateral consultations among
producers and consumers Thursday morning to resolve outstanding
differen... | Financial Reports |
SNC GROUP EXPECTS HIGHER 1987 EARNINGS, SALES
| <SNC Group Inc> expects 1987 earnings
to rise to 1.20-1.40 dlrs a share from 91 cts a share last
year, with revenues climbing to about 430 mln dlrs from last
year's 350 mln dlrs, president Alex Taylor said before the
annual meeting.
SNC, Canada's second biggest engineering and construction
group, b... | Corporate News |
MINE SAFETY <MNES> SELLS SOUTH AFRICA UNIT
| Mine Safety Appliances Co said it
will sell through its German subsidiary, Auergesellschaft, its
controlling interest in MSA (Africa), (PTY) Ltd, of
Johannesburg, South Africa to Boart International, a wholly-
owned subsidiary of Anglo American Corp of South Africa Ltd
<ANGL>.
The company said the ... | Corporate News |
MEDAR INC <MDXR> 4TH QTR DEC 31 LOSS
| Shr loss 10 cts vs loss nine cts
Net loss 558,800 vs loss 469,200
Sales 5.5 mln vs two mln
Nine mths ended Dec 31
Shr profit two cts vs loss four cts
Net profit 91,045 vs loss 207,000
Sales 17.3 mln vs 8.4 mln
Avg shrs 5,465,433 vs 5,037,819
Year ended March 31
Sh... | Commodities and Trade |
MEDAR <MDXR> CHANGES FISCAL YEAR
| Medar Inc said it
changed the end of its fiscal year to December 31 from March
31.
The company, in reporting its annual results, said the
change was made to bring its financial reporting in phase with
the order cycle of its major customers.
Medar earlier said it lost 558,800 dlrs in its final 1986... | Financial Reports |
U.S. SECURITIES INDUSTRY ASSN BACKS RESTRAINTS ON TAKEOVERS, INSIDER TRADING
|
U.S. SECURITIES INDUSTRY ASSN BACKS RESTRAINTS ON TAKEOVERS, INSIDER TRADING
| Financial Reports |
CHEMFIX TECHNOLOGIES INC <CFIX> 2ND QTR NET
| Ended Feb 28
Shr profit one ct vs loss four cts
Net profit 53,040 vs loss 255,568
Revs 2,252,246 vs 755,605
Six mths
Shr profit three cts vs loss eight cts
Net profit 217,884 vs loss 517,538
Revs 4,895,720 vs 1,569,662
| Corporate News |
ALLIS-CHALMERS <AH> SELLS SWISS UNIT
| Allis-Chalmers Corp said it
has sold its Elex Ag unit in Zurich, Switzerland, to private
investors for an undisclosed amount.
The company said Elex produces electrostatic precipitators
used in air pollution control.
| Corporate News |
FLORIDA EMPLOYERS INSURANCE CO <FLAE> YEAR 1986
| Shr 29 cts vs nine cts
Net 651,000 vs 214,000
NOTE: 1986 net includes loss of 500,000 dlrs for
extraordinary item.
| Corporate News |
SHELL OIL GETS 104.3 MLN DLR CONTRACT
| Shell Oil Co of Houston has been
awarded a 104.3 mln dlr contract for jet fuel, the Defense
Logistics Agency said.
| Corporate News |
NIKE INC <NIKE> 3RD QTR FEB 28 NET
| Shr 12 cts vs 30 cts
Net 4,255,000 vs 11.5 mln
Revs 199.4 mln vs 258.7 mln
Nine mths
Shr 64 cts vs 1.19 dlrs
Net 24.4 mln vs 45.5 mln
Revs 639.7 mln vs 824.3 mln
| Corporate News |
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