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BRITISH CALEDONIAN GROUP ANNOUNCES BIG LOSSES
| <British Caledonian Group>, Britain's
second largest airline, has announced a 19.3 mln stg pretax
loss for the financial year ending last October, compared with
a record pre-tax profit of 21.7 mln stg in 1985, chairman Sir
Adam Thomson told reporters.
A decline in U.S. Transatlantic traffic following... | Financial Reports |
FED ADDS RESERVES VIA CUSTOMER REPURCHASES
| The Federal Reserve entered the U.S.
Government securities market to arrange 1.5 billion dlrs of
customer repurchase agreements, a Fed spokesman said.
Dealers said Federal funds were trading at 6-1/4 pct when
the Fed began its temporary and indirect supply of reserves to
the banking system.
| Commodities and Trade |
HAPAG ORDERS NEW CONTAINER SHIP FROM CHINA
| <Hapag Lloyd AG> said it ordered a new
container vessel from China for its Australia service.
The order was given to the <Hudong shipyards> in Shanghai
after lengthy negotiations with West German shipbuilders, the
company said in a statement.
The Chinese firm offered to build the vessel at ove... | Financial Reports |
FRENCH CGE UNIT TAKES 34 PCT STAKE IN ESCA CORP
| State-owned <Cie Generale
d'Electricite>'s electrical contracting unit <CGEE ALSTHOM> has
taken a 34 stake in the U.S. Computer firm <ESCA Corp>, CGEE
ALSTHOM chairman Philippe Boisseau told a press conference.
According to an agreement in principle between the two
companies CGEE ALSTHOM could ... | Financial Reports |
PARTNERS CALL GENCORP <GY> RESPONSE UNPRODUCTIVE
| General Acquisition Co said it was
disappointed by Gencorp's response to its tender offer and
asked how the company might give better value to shareholders.
Gencorp had earlier urged shareholders to reject a 100 dlr
per share tender offer from General Acquisition, an affiliate
of Wagner and Brown and AF... | Financial Reports |
U.S. MAY DROP TARIFFS IF JAPAN OPENS - YEUTTER
| The U.S. Is willing to drop tariffs on
Japanese electronic imports if Japan shows it will abide by an
agreemement opening its markets to American goods, U.S. Trade
Representative Clayton Yeutter said in a TV interview.
"But there has to be a clear indication that they are
willing to act," he said.
... | Financial Reports |
SEDGWICK BUYS BSI INCORP
| Sedgwick Group Plc <SDWK.L> said its
wholly-owned Canadian subsidiary Sedgwick Tomenson Inc had
acquired BSi Incorp for a maximum eight mln Canadian dlrs.
The funds will be raised through the issue of up to 1.16
mln ordinary Sedgwick shares to the vendors of BSi by no later
than 31 January 1991. Some... | Other |
U.K. MONEY MARKET SHORTAGE FORECAST REVISED UP
| The Bank of England said it had revised
its estimate of the deficit in the money market today up to a
record two billion stg, before taking account of its morning
operations, from 1.85 billion at midday.
The Bank has provided the system with around 1.71 billion
stg assistance so far today.
| Financial Reports |
REXNORD <REX> SELLS UNIT TO NEOAX <NOAX>
| Rexnord Inc, 96 pct owned by Banner
Industries Inc <BNR> following a recent tender offer, said it
has completed the sale of its Fairfield Manufacturing Co
subsidiary to NEOAX Inc for 70.5 mln dlrs in cash.
Rexnord said it still plans to sell its Process Machinery
Division and Mathews Conveyor Co as p... | Financial Reports |
U.S. LEADING INDICATORS ROSE 0.7 PCT IN FEB AFTER REVISED 0.5 PCT JAN FALL
|
U.S. LEADING INDICATORS ROSE 0.7 PCT IN FEB AFTER REVISED 0.5 PCT JAN FALL
| Financial Reports |
JAPAN WILL ASK COMPANIES TO BOOST IMPORTS
| Japan's Minister of International Trade
and Industry, Hajime Tamura, will meet representatives from 151
of the nation's largest companies next week and appeal to them
to do their best to increase imports, ministry officials said.
The meeting was unveiled as part of a plan to boost imports
and help head ... | Commodities and Trade |
U.S. LEADING INDEX ROSE 0.7 PCT IN FEBRUARY
| The U.S. index of leading indicators
rose a seasonally adjusted 0.7 pct in February after a revised
0.5 pct January fall, the Commerce Department said.
The department previously said the index fell 1.0 pct in
January.
The February increase left the index at 187.1 over its 1967
base of 100, and was... | Other |
U.K. MONEY MARKET GIVEN FURTHER 168 MLN STG HELP
| The Bank of England said it had provided
the money market with a further 168 mln stg assistance in the
afternoon session. This takes the Bank's total help so far
today to 1.88 billion stg and compares with its estimate of a
record two billon stg shortage in the system.
The central bank purchased bank bi... | Corporate News |
ICO BOARD PASSES OVER COFFEE QUOTA ISSUE
| Executive board members of the
International Coffee Organization, ICO, passed over the issue
of export quota negotiations at its regular meeting here,
delegates said.
No move was made to reopen dialogue on export quotas and no
further discussion on the issue is likely during the three-day
talks, they ... | Corporate News |
HUDSON FOODS <HFI> TO MAKE ACQUISITION
| Hudson Foods Inc said it has
agreed in principle to acquire Thies Cos Inc, a poultry, beef
and pork products provider to midwest supermarkets and food
distributors with sales of about 69 mln dlrs for the year ended
November One.
The company said a definitive agreement is expected to be
signed in April... | Financial Reports |
IVORY COAST BOOSTS MAIZE OUTPUT
| Ivory Coast maize output has risen
steadily during the last two decades and the country aims to
produce two mln tonnes annually "very rapidly," the official
daily Fraternite Matin reported.
It said the country reached self-sufficiency in maize three
years ago and harvested a record 530,000 tonnes in 198... | Financial Reports |
ESSO MALAYSIA REPORTS HIGHER PROFIT IN 1986
| Esso Malaysia Bhd, a unit of Exxon
Corp of the U.S., Reported net profit of 70 mln ringgit from
its petroleum and ammonia operations in 1986 compared with 48.7
mln in 1985. Chairman Gerald F Cox said the improved
performance was mainly due to product prices falling more
slowly than crude prices during the y... | Financial Reports |
THAILAND BUYS YUGOSLAV CRANES IN BARTER DEAL
| The Cabinet approved a plan for the
Port Authority of Thailand to buy six gantry cranes from
Metalna Co of Yugoslavia for about 13.4 mln dlrs, a government
spokesman said.
He said Thailand will pay for 25 pct of the cost of the
cranes in U.S. Dlrs and the rest by sales of rice, textiles and
other comm... | Financial Reports |
JEWELMASTERS <JEM> SEES NET BELOW ESTIMATES
| Jewelmasters Inc said it expects to
report net income for the year ended January 31 20 to 25 pct
below analysts' estimates of 1,750,000 dlrs or 95 cts per share.
Jewelmasters sales sales for the year just ended were about
52.5 mln dlrs. In the prior year it earned 1,650,000 dlrs on
sales of 45.1 mln dlr... | Financial Reports |
ALUMINIUM CAPACITY GROWTH TREND SEEN INSUFFICIENT
| Aluminium capacity expansion planned for
the period after 1990 will be insufficient to supply any
acceleration in demand growth, let alone an increase on the
scale which seems likely, according to analyst Anthony Bird
Associates' 1987 Aluminium Review.
By 1995 non-socialist world primary capacity will n... | Financial Reports |
ALPHA INDUSTRIES <AHA> SELLS DIVISION
| Alpha Industries Inc said it has
sold its Microelectronics Division to Triax Corp for
undisclosed terms, retroactive to February One.
It said the division has yearly revenues of about 12 mln
dlrs and makes RF microwave components for the defense
electronics industry.
Alpha said it plans to concent... | Commodities and Trade |
NORWEGIAN UNEMPLOYMENT FALLS IN MARCH
| Unemployment fell in March to 36,510, or
1.7 pct of the workforce, compared with 39,700 (1.9 pct) in
February and 38,839 (2.2 pct) in March 1986, the Labour
Directorate said.
| Financial Reports |
J.C. PENNEY DECLARES TWO FOR ONE SPLIT, RAISES QUARTERLY
|
J.C. PENNEY DECLARES TWO FOR ONE SPLIT, RAISES QUARTERLY
| Financial Reports |
LONDON MEAT FUTURES NEED MARKETING - CHAIRMAN
| Pigmeat and beef futures, which have
been thinly traded on the London Meat Futures Exchange, LMFE,
despite lower physical prices and the introduction of new
contracts, need more effective marketing, LMFE chairman Pat
Elmer said in his annual report.
In 1986 the Exchange introduced live cattle and pig ca... | Financial Reports |
INTERLINK SAYS NOT PLANNING BID FOR PUROLATOR
| British package courier <Interlink
Express Plc> does not plan to bid for the whole or part of
Purolator Courier Corp <PCC.N>, a spokesman said.
"There is no intention of making any sort of approach to
Purolator," the spokesman told Reuters, adding, "it would be a
case of David versus Goliath."
... | Corporate News |
SUPRADUR COS INC <SUPD> YEAR NET
| Oper shr 1.58 dlrs vs 77 cts
Oper net 1,648,000 vs 817,000
Sales 25.7 mln vs 20.5 mln
NOTE: Net excludes discontinued operations gain 451,000
dlrs vs loss 4,310,000 dlrs.
| Commodities and Trade |
SOUTH KOREA TO RESIST CURRENCY REVALUATION
| South Korean Finance Minister Chung
In-yong will resist pressure for a currency revaluation to cut
South Korea's trade surplus with the United States when he
meets Treasury Secretary James Baker next week, Finance
Ministry officials said.
They said Chung would leave Monday to attend the
International ... | Corporate News |
PENNEY <JCP> SETS STOCK SPLIT, RAISES QUARTERLY
| J.C. Penney Co Inc said its board
declared a two-for-one stock split and raised the quarterly
dividend 12 cts per share on a presplit basis to 74 cts.
Both are payable May One to holders of record April 10.
| Commodities and Trade |
HILLENBRAND INDUSTRIES INC <HB> 1ST QTR FEB 28
| Shr 31 cts vs 28 cts
Net 11.9 mln vs 10.9 mln
Revs 167.2 mln vs 154.0 mln
| Corporate News |
U.K. MONEY MARKET GIVEN 215 MLN STG LATE HELP
| The Bank of England said it had provided
the money market with late assistance of around 215 mln stg.
This takes the bank's total help today to some 2.096 billion
stg and compares with its forecast of a two billion stg
shortage in the system today.
| Financial Reports |
CABLE SAYS CONSORTIUM PROPOSALS NOT ACCEPTABLE
| Cable and Wireless Plc <CAWL.L> said
proposals to resolve a dispute over entry to Japan's
telecommunications market were not acceptable.
A company spokesman said the proposals appear to have been
made in today's edition of the Japanese daily Asahi by Fumio
Watanabe, head of a telecommunications commi... | Financial Reports |
U.S./JAPAN TRADE WAR NOT IN UK'S INTEREST - LAWSON
| U.K. Chancellor of the Exchequer Nigel
Lawson said the United States and Japan must work to avert a
possible trade war, and he added that a trade war would not be
in the interests of Britain.
Lawson told journalists that "the prospects for the (U.K.)
economy look very very good - providing we can avoid ... | Market and Economy |
GAF CORP OFFERS 36 DLRS A SHARE CASH FOR BORG-WARNER
|
GAF CORP OFFERS 36 DLRS A SHARE CASH FOR BORG-WARNER
| Commodities and Trade |
ECONOMISTS CUT AUSTRIAN GDP GROWTH FORECAST
| The Institute for Economic Research
(WIFO) said it has cut its forecast for Austria's 1987 gross
domestic product growth to a real one pct from a two pct
forecast made last December.
WIFO chief Helmut Kramer told a new conference that he saw
the one pct figure, which compares with 1.8 pct last year, as
... | Commodities and Trade |
FERRUZZI MAY FLOAT UP TO 49 PCT OF PARIS UNIT
| <Gruppo Ferruzzi> is studying a
project which could result in a public share offer of up to 49
pct of its French unit <European Sugar (France)> and could
raise around 400 mln dlrs, Ferruzzi chairman Raul Gardini said.
Gardini told Reuters the operation under consideration was
aimed at "internation... | Corporate News |
CORRECTED - GAF CORP OFFERS 46 DLRS A SHARE CASH FOR BORG-WARNER (CORRECTING AMOUNT)
|
CORRECTED - GAF CORP OFFERS 46 DLRS A SHARE CASH FOR BORG-WARNER (CORRECTING AMOUNT)
| Financial Reports |
U.S. TREASURY'S BAKER SEES RATE STABILITY
| Treasury Secretary James Baker said
the agreement among the industrial countries reached in Paris
last month should foster stability of exchange rates at around
current levels.
In testimony before the House Appropriations Committee,
Baker outlined many of the measures taken designed to achieve
more ba... | Corporate News |
GAF <GAF> SEEKS ALL OF BORG-WARNER <BOR>
| GAF Corp said it has made an all
cash merger proposal to Borg-Warner Corp at 46 dlrs per share
for all the company's common stock.
Following a meeting yesterday with Borg-Warner officials
and investment bankers, GAF said, it is today delivering a
letter to the Borg-Warner board outling the terms of the
... | Commodities and Trade |
LIBERTY ALL-STAR <USA> SETS INITIAL PAYOUT
| Liberty All-Star Equity Fund said
it declared an initial dividend of five cts per share, payable
April two to shareholders of record March 20.
It said the dividend includes a quarterly dividend of three
cts a share and a special payout of two cts a share, which
covers the period from November three, 198... | Financial Reports |
<TRANS CANADA GLASS LTD> 4TH QTR LOSS
| Shr loss 11 cts vs loss eight cts
Net loss 500,000 vs loss 500,000
Sales 47.4 mln vs 37.5 mln
Year
Shr profit 70 cts vs profit 89 cts
Net profit 4.4 mln vs profit 5.3 mln
Sales 195.5 mln vs 148.3 mln
| Financial Reports |
GEOTHERMAL RESOURCES INTERNATIONAL INC <GEO>
| Year
Oper shr 1.23 dlrs vs 1.85 dlrs
Oper shr diluted 1.23 dlrs vs 1.79 dlrs
Oper net 6,799,000 vs 9,321,000
Revs 7,474,000 vs 12.4 mln
Avg shrs 4,503,000 vs 4,350,000
Avg shrs diluted 4,508,000 vs 5,206,000
NOTE: Net excludes gains from discontinued operations of
386,000 d... | Other |
FIRST CITY INDUSTRIES INC <FCY> 4TH QTR NET
| Opoer shr profit 17 cts vs loss 96 cts
Oper net profit 2,293,000 vs loss 7,110,000
Sales 116.0 mln vs 108.3 mln
Year
Oper shr loss 2.03 dlrs vs loss 2.12 dlrs
Oper net loss 13.8 mln vs loss 11.6 mln
Sales 454.0 mln vs 446.4 mln
NOTE: Net excludes gains from discontinued opera... | Commodities and Trade |
MAGELLAN PETROLEUM CORP <MPET> 3RD QTR JAN 31
| Shr loss nil vs profit nil
Net loss 90,656 vs profit 892
Revs 2,194,242 vs 2,481,784
Avg shrs 19.5 mln vs 16.1 mln
Nine mths
Shr profit nil vs loss one ct
Net profit 42,824 vs loss 149,150
Revs 6,364,992 vs 6,503,811
Avg shrs 19.5 mln vs 16.1 mln
NOTE: Net include... | Other |
TERRA MINES LTD <TMEXF> YEAR LOSS
| Shr loss 89 cts vs loss 17 cts
Net loss 13.9 mln vs loss 1,996,000
Revs 204,000 vs 2,087,000
Note: 1986 includes writedown of 12.5 mln dlrs for the
costs of mineral properties and deferred exploration and
development Bullmoose Lake in the Northwest Territories.
| Financial Reports |
MERRILL CORP <MRLL> 4TH QTR JAN 31 NET
| Shr 17 cts vs 17 cts
Net 777,000 vs 595,000
Revs 12.9 mln vs 11.7 mln
Year
Shr 68 cts vs 48 cts
Net 2,957,000 vs 1,614,000
Revs 49.4 mln vs 38.6 mln
Avg shrs 4,344,204 vs 3,337,284
| Corporate News |
D.O.C. OPTICS CORP <DOCO> 4TH QTR LOSS
| Shr loss 11 cts vs profit 12 cts
Net loss 286,817 vs profit 292,014
Revs 9,972,379 vs 9,413,304
Year
Shr profit 63 cts vs profit 57 cts
Net profit 1,547,893 vs profit 1,481,703
Revs 43.9 mln vs 41.0 mln
Avg shrs 2,474,820 vs 2,617,768
| Commodities and Trade |
U.S. SETS CORN DEFICIENCY PAYMENT HALF PIK CERTS
| The upcoming five-month deficiency
payments to corn and sorghum farmers will be made half in cash
and half in generic commodity certificates, a senior
Agriculture Department official told Reuters.
Around 300 mln dlrs of the in-kind certificates, or
"certs," will be mailed out to farmers around March 15 ... | Corporate News |
U.S. TREASURY'S BAKER SEES EXPANSION CONTINUING
| Treasury Secretary James Baker said
that the current expansion, which he noted was in its fifth
year, will continue in the period ahead.
He told the House Appropriations Committee that "there is
every prospect that the current expansion will continue
unabated through 1987 and the years beyond."
Ba... | Corporate News |
EC APPROVES MEDITERRANEAN FINANCIAL PACKAGES
| EC ministers have approved financial
packages for several Mediterranean states totalling 1.6 billion
European currency units, an EC official said.
The packages, part of special EC trade agreements with
Tunisia, Egypt, Lebanon, Israel, Algeria, Morocco and Jordan
until 1992, include 615 mln Ecus in grant... | Commodities and Trade |
SOVIET UNION FEATURES IN U.K. GRAIN EXPORTS
| The Soviet Union featured prominently in
U.K. Grain exports outside the EC for the period July 1/March
13, taking a combined total of 1.10 mln tonnes of wheat and
barley out of all-destination U.K. Exports of 7.16 mln tonnes,
the Home Grown Cereals Authority said, quoting provisional
Customs and Excise figu... | Financial Reports |
SOUTHERN HOSPITALITY CORP <SHOS> 3RD QTR FEB 28
| Shr loss 23 cts vs loss 11 cts
Net loss 1,128,412 vs loss 548,054
Sales 9,827,784 vs 12.1 mln
Nine mths
Shr loss 19 cts vs profit 11 cts
Net loss 926,924 vs profit 527,004
Sales 32.3 mln vs 37.5 mln
| Corporate News |
ELDER-BEERMAN STORES CORP <ELDR> 4TH QTR FEB ONE
| Oper shr 89 cts vs 1.31 dlrs
Oper net 3,345,000 vs 4,885,000
Sales 126.8 mln vs 120.1 mln
Year
Oper shr 1.67 dlrs vs 2.15 dlrs
Oper net 6,299,000 vs 8,013,000
Sales 380.9 mln vs 352.1 mln
NOTE: Share adjusted for five pct stock dividend.
Prior year net both periods excl... | Financial Reports |
TREASURY'S BAKER SAYS COOPERATION WORKING
| Treasury Secretary James Baker said
that the agreement in Paris to cooperate in exchange rate
changes showed that the process of coordination agreed to at
the Tokyo summit was working.
He told the House Appropriations Committee the meeting
"demonstrated that the process is working."
He noted that ... | Financial Reports |
AKZO PLANNING US INVESTMENTS
| Dutch chemicals group Akzo
NV <AKZO.AS> said it hoped to consolidate its core activities
this year by making small acquisitions in the US.
Akzo chairman Aarnoud Loudon told a news conference on its
1986 report that the company wanted to achieve the same level
of US investments it had before it diveste... | Commodities and Trade |
OECD SEES MAJOR ADJUSTMENT FOR AUSTRALIA
| Australia faces a major medium term
adjustment to reduce debt and improve its economic performance,
the Organisation for Economic Cooperation and Development said
in its latest annual review of the Australian economy.
It said Australia had a current external deficit of 5-3/4
pct of gross domestic produc... | Financial Reports |
U.S. SUGARBEET PLANTINGS SEEN RISING IN 1987
| Representatives of U.S. sugar grower
organizations said they expect some increase the area planted
to sugarbeets this year and said the prospects for the 1987
cane sugar crop also are good.
Dave Carter, president of the U.S. beet sugar association,
said plantings may be up in two major beet growing stat... | Financial Reports |
HECK'S INC <HEX> 4TH QTR JAN THREE NET
| Shr losses not given
Net loss 7,800,000 vs loss 5,400,000
Sales 181.2 mln vs 182.0 mln
Year
Shr losses not given
Net loss 17.8 mln vs loss 4,900,000
Sales 566.3 mln vs 523.3 mln
NOTE: Company operating in Chapter 11 bankruptcy.
1986 year net includes four mln dlr LIFO c... | Financial Reports |
CAPITAL BANCORP <CAPB> SEES GAIN ON UNIT SALE
| Capitol Bancorp said it has sold its 80
pct interest in CAP Mortgage Co Inc for 3.1 mln dlrs, adding
this is expected to result in an after tax gain of about
900,000 dlrs to be reported in the first quarter.
Capitol Bancorp said the CAP Mortgage interest was sold to
Michael M. Bronstein, president of CA... | Financial Reports |
4G DATA SYSTEMS <GGGG> 3RD QTR NET
| qtr ends Jan 31
Shr nil vs nil
Net 2,213 vs 16,288
Revs 1,418,019 vs 795,522
Avg shrs 6,650,000 vs 4,150,000
Nine mths
Shr two cts vs three cts
Net 118,984 vs 103,384
Revs 4,066,605 vs 2,741,241
Avg shrs 6,650,000 vs 3,969,444
| Corporate News |
<NIKI-LU INDUSTRIES INC> YEAR NET
| Oper shr profit 18 cts vs loss 38 cts
Oper net profit 577,000 vs loss 1,147,000
Revs 16.3 mln vs 19.8 mln
Avg shrs 3,227,625 vs 3,057,206
NOTE: 1986 net excludes 485,000 dlr tax credit.
| Financial Reports |
WALLACE COMPUTER SERVICES INC <WCS> 2ND QTR NET
| Shr 69 cts vs 64 cts
Net 7,046,000 vs 6,492,000
Sales 85.7 mln vs 79.6 mln
Six Mths
Shr 1.28 dlrs vs 1.19 dlrs
Net 13,098,000 vs 12,006,000
Sales 166.3 mln vs 153.3 mln
NOTE: Periods end January 31, 1987 and 1986, respectively.
| Financial Reports |
COLOROCS CORP <CLRX> YEAR LOSS
| Shr loss 28 cts vs loss 29 cts
Net loss 2,086,477 vs loss 1,466,907
Revs 218,864 vs 60,000
Avg shrs 7,510,781 vs 4,990,168
| Commodities and Trade |
CSCE RESTRUCTURES COFFEE FUTURES DAILY LIMITS
| The Coffee, Sugar and Cocoa Exchange
has expanded the normal daily trading limit in Coffee "C"
contracts to 6.0 cents a lb, from the previous 4.0 cents,
effective today, the CSCE said.
The new daily limits apply to all but the two nearby
positions, currently May and July, which trade without limits.
... | Financial Reports |
KANSAS EXCHANGE HITS CFTC POSITION LIMIT PLAN
| The Kansas City Board of Trade,
KCBT, has asked federal futures regulators to modify a proposal
to raise the Chicago Board of Trade's, CBT, speculative
position limits on wheat futures contracts, saying the plan
would put the the Kansas exchange "at a serious competitive
disadvantage."
The Commodity F... | Financial Reports |
FERRUZZI MAY FLOAT UP TO 49 PCT OF PARIS UNIT
| Gruppo Ferruzzi is studying a
project which could result in a public share offer of up to 49
pct of its French unit European Sugar (France) and could raise
around 400 mln dlrs, Ferruzzi chairman Raul Gardini said.
Gardini told Reuters the operation under consideration was
aimed at "international markets... | Market and Economy |
GANDALF <GANDF> ACQUIRES STAKE IN DATA/VOICE
| Gandalf Technologies Inc said it
acquired a significant minority equity interest in privately
held Data/Voice Solutions Corp, of Newport Beach, Calif., for
undisclosed terms.
Gandalf did not specify the size of the interest.
Data/Voice is a three-year-old designer and manufacturer of
a multiproces... | Financial Reports |
KEYCORP <KEY> AGREES TO ACQUIRE UTAH BANK
| Keycorp said it has signed a
definitive agreement to acquire Commercial Security Bancorp
<CSEC> by exchanging Keycorp common valued at 63 dlrs for each
Commercial Securities share.
Keycorp said this gives the transaction an indicated value
of 102 mln dlrs.
Keycorp said the amount of its stock t... | Financial Reports |
AMERICAN VANGUARD CORP <AMGD> YEAR NET
| Shr 57 cts vs 27 cts
Net 1,002,000 vs 470,000
Sales 15.9 mln vs 12.0 mln
Note: 4th qtr data not available
| Corporate News |
EXXON <XON> OIL AND GAS PRODUCTION ROSE IN 1986
| Exxon Corp said in its annual report
that it raised production in 1986 although it did not replace
all oil and gas produced.
The company said that it added about four pct to production
bringing it to 1.8 mln bpd, the highest level since 1979, based
largely on increased production of oil overseas but add... | Other |
SOVIET UNION SEEN WATCHING CHINA GATT APPLICATION
| China's application to join the General
Agreement on Tariffs and Trade (GATT) is seen as a test case by
the Soviet Union, which will probably demand to follow China, a
top European Community official said.
Willy de Clercq, External Relations Commissioner of the
European Communities, told a news conferen... | Other |
ROCKY MOUNT UNDERGARMENT <RMUC> 4TH QTR LOSS
| Shr loss 53 cts vs loss 32 cts
Net loss 1,548,000 vs loss 929,000
Revs 9,362,000 vs 11.3 mln
12 mths
Shr loss 82 cts vs profit 17 cts
Net loss 2,408,000 vs profit 452,000
Revs 40.9 mln vs 39.5 mln
NOTE: full name of company is Rocky Mount Undergarment Co
Inc.
| Corporate News |
U.S. COMMERCE SECRETARY SEES HIGHER GNP GROWTH
| Commerce Secretary Malcolm Baldrige
said a 0.7 pct rise in February's index of leading indicators
pointed to stronger economic growth in the first half of 1987.
In a statement commenting on the rise last month after a
0.5 pct January decline, Baldrige noted the leading index was
rising at an 8.0 pct ann... | Corporate News |
U.S. SENATE LEADERS SEE NO TRADE WAR BREWING
| The Senate's Democratic and
Republican leaders praised President Reagan for retaliating
against Japan for violating a semiconducter accord but dashed
cold water on ideas it was the first shot in a trade war.
Senate Democratic Leader Robert Byrd and Republican leader
Bob Dole both told the Senate Reagan... | Corporate News |
DYR LIQUIDATING <DYR> SETS LIQUIDATING PAYOUT
| DYR Liquidating Corp,
formerly Dyneer Corp, said its board declared a third
liquidating dividend of one dlr per share payable to
shareholders of record on April 14 and said it will file a
certificate of dissolution on that date.
The company said shareholders of record on that date will
acquire benefic... | Corporate News |
NETWORK SECURITY CORP <NTWK> YEAR NET
| Shr 1.24 dlrs vs 19 cts
Shr diluted 1.11 dlrs vs 19 cts
Net 11.9 mln vs 1,830,000
Revs 79.3 mln vs 46.1 mln
NOTE: 1986 net includes pretax charge 8,300,000 dlrs from
increases and reserves and writeoffs of low-yielding assets and
pretax gain 20.8 mln dlrs from sale of Multi-Family subsidia... | Commodities and Trade |
PEAT MARWICK, KMG MAIN HURDMAN TO COMPLETE MERGER
| Peat Marwick and KMG Main Hurdman said
their merger will be completed tomorrow.
The new firm, to be known as KPMG Peat Marwick, will rank
among the largest public account and consulting firms in the
U.S. based on combined 1986 revenues of 1.35 billion dlrs,
1,825 partners and a total staff of 16,500 in ... | Market and Economy |
DUTCH MONEY MARKET DEBT EASES IN WEEK
| Loans and advances from the Dutch
Central Bank to the commercial banks fell 1.01 billion guilders
to 9.5 billion guilders in the week ending March 30, the Bank's
weekly return showed.
Dealers said payments by the Dutch state, partly in the
form of civil service wages, had outweighed payments to the
St... | Corporate News |
BORG-WARNER <BOR> EXAMINING GAF <GAF> PROPOSAL
| Borg-Warner Corp in a statement said it
has received GAF Corp's 46 dlrs a share acquisition proposal
and will have no comment until its board of directors has had a
chance to examine it thoroughly.
| Financial Reports |
NORTH AMERICAN BIOLOGICALS INC <NBIO> 4TH QTR
| Oper shr one ct vs three cts
Oper net 99,000 vs 327,000
Revs 12.1 mln vs 8,800,000
Avg shrs 15.5 mln vs 11.3 mln
Year
Oper shr six cts vs 11 cts
Oper net 841,000 vs 956,000
Revs 44.1 mln vs 34.4 mln
Avg shrs 15.3 mln vs 8,519,677
NOTE: Net excludes tax credits of ... | Corporate News |
CRI INSURED II <CII> ESTIMATES DIVIDENDS
| CRI Insured Mortgage Investments
II Inc said it expects to distribute about 1.55 to 1.65 dlrs
per share from operations for all of 1987 and about 1.68 to
1.75 dlrs including the proceeds of the gain from the sale of
the Brighton Meadows mortgage through January 31.
The company today paid a dividend of 1... | Corporate News |
LME LISTS BRAZILIAN ALUMINIUM BRAND
| The London Metal Exchange (LME) has
listed the aluminium brand "CBA' produced by Cia Brasileira de
Aluminio at its Mairinque, Sao Paulo, plant.
The brand will constitute good delivery from April 1, the
LME said.
| Market and Economy |
GUATEMALA TO HOST OTHER MILDS COFFEE MEETING
| Guatemala will host a meeting of other
milds coffee producers probably in May to discuss basic export
quotas, the Guatemalan delegate to the International Coffee
Organization, ICO, said.
No firm date has been set for the talks, Ambassador Rene
Montes told reporters at the ICO executive board meeting her... | Other |
AUDIO/VIDEO <AVA> TO GET EXPENSES FROM DIXONS
| Audio/Video Affiliates Inc said it
will receive an undisclosed amount from <Dixons Group PLC> in
connection with the termination of Cyacq Corp's 92.50 dlr per
share tender offer for Cyclops Corp <CYL>.
The company said the amount from Dixons is in lieu of
reimbursement expenses for the Cyacq tende... | Financial Reports |
REPUBLIC <RSLA> TO MERGE WITH PIONEER SAVINGS
| Republic Savings and Loan
Association and <Pioneer Savings> of Racine, Wis., said they
have signed a definitive agreement to combine the two
associations into a publicly held holding company to be called
Republic Capital Group Inc.
The associations said they would form the company by
exchanging Rep... | Corporate News |
<NEW HARDING GROUP INC> 1ST QTR JAN 31 NET
| Shr 19 cts
Net 653,000
Revs 45.6 mln
Note: Prior results not given due to November, 1986
acquisition of 56 pct stake in Continuous Colour Coat Ltd
| Commodities and Trade |
BROUGHER <BIGI> TO SELL 40 PCT OF SUBSIDIARY
| Brougher Insurance Group Inc
said it plans to sell 40 pct of the stock of its subsidiary,
Intercontinental Corp, for one mln dlrs to three European
insurance companies.
The parent company said it signed a letter of intent to
sell the stock to <WASA Europeiska Forsakrings AB> of Sweden,
<Europeis... | Financial Reports |
CANADA INDUSTRY PRICES FALL 0.2 PCT IN MONTH
| The Canadian industrial product price
index, base 1981, fell 0.2 pct in February after rising 0.2 pct
in January, Statistics Canada said.
"A significant part of this monthly decrease was
attributable to the impact of the increase of the Canadian
dollar on prices for wood pulps, newspaper, aluminum, nick... | Financial Reports |
OMNICOM GROUP INC <OMCM> 4TH QTR NET
| Shr profit 27 cts vs profit 51 cts
Net profit 6,600,000 vs profit 12,231,000
Revs 211.7 mln vs 193.4 mln
12 mths
Shr loss 17 cts vs profit 1.27 dlrs
Net loss 4,077,000 vs profit 30,142,000
Revs 753.5 mln vs 673.4 mln
NOTE: in qtr ended 1986 the company recognized expenses of
... | Commodities and Trade |
KANSAS LEGISLATOR PREDICTS EEP WHEAT TO SOVIETS
| Rep. Pat Roberts, R-Kan., predicted
the Reagan administration within the next ten days to two weeks
will offer subsidized wheat to the Soviet Union under the
Export Enhancement Program, EEP.
Roberts made the comment at a press conference held by
Republican members of the House Agriculture Committee.
... | Corporate News |
SUN CITY INDUSTRIES <SNI> SEES HIGHER NET
| Sun City Industries Inc said preliminary
unaudited results of ongoing operations for the fiscal year
ended January 31, 1987 are expected to rise over 580 pct to
700,000 dlrs or 70 cts per share from the 125,313 dlrs or 12
cts reported last year.
Total net income is expected to reach 2.4 mln dlrs, which
... | Corporate News |
YEUTTER SAYS STOCK MARKET OVERREACTED TO JAPAN TRADE DISPUTE
|
YEUTTER SAYS STOCK MARKET OVERREACTED TO JAPAN TRADE DISPUTE
| Financial Reports |
ST LAWRENCE SEAWAY OPENS SHIPPING SEASON
| The St Lawrence Seaway said the first
ship of the season passed through the St Lambert lock here this
morning, officially opening the 2,300-mile-long waterway's 1987
shipping season.
The seaway has said it expects little increase in freight
levels this year from last year when it moved 37.6 mln tonnes
... | Financial Reports |
ACTON <ATN> TO SELL UNIT FOR GAIN
| Acton Corp said it has agreed to
sell its five Michigan cable television systems to Wisconsin
Cablevision Inc for about 9,500,000 dlrs, resulting in a gain
of about six mln dlrs.
The company said the sale is subject to review by local
authorities. The systems have about 7,500 subscribers.
Acton s... | Financial Reports |
BEGHIN-SAY SAYS SUGAR OFFER TO EC STILL STANDS
| A plan by European producers to sell
854,000 tonnes of sugar to European Community intervention
stocks still stands, Andrea Minguzzi, an official at French
sugar producer Beghin-Say, said.
Last week Beghin-Say president Jean-Marc Vernes said a
possible settlement of a row with the EC would lead producer... | Commodities and Trade |
EXXON <XON> GAINS DUE TO STREAMLINED OPERATIONS
| Exxon Corp said that 1986's 15 pct
increase in earnings per share to 7.42 dlrs a share were
partially based on its streamlined operations which compensated
for the weakness in its exploration earnings and the lowest
crude oil prices in a decade.
Exxon said economies introduced in its operations from
r... | Commodities and Trade |
U.S. STOCK MARKET OVERREACTS TO TARIFFS - YEUTTER
| U.S. Trade Representative Clayton
Yeutter said the stock market overreacted to a U.S. decision
last week to proceed with tariffs on some Japanese computer
products.
Speaking to reporters prior to testifying at a House
Agriculture Committee hearing, Yeutter said it is "difficult to
comprehend" that a t... | Financial Reports |
WEATHER HURTING YUGOSLAV WHEAT - USDA REPORT
| Unfavorable late winter weather
conditions in the main wheat growing areas of Yugoslavia
indicate dimmed prospects for the emerging winter wheat crop,
the U.S. embassy's agricultural officer in Belgrade said.
The officer, who travelled through an area from Belgrade to
Subotica, said in a field report da... | Commodities and Trade |
USX <X>, CONSOLIDATED NATURAL <CNG> END TALKS
| USX Corp's Texas Oil and Gas Corp
subsidiary and Consolidated Natural Gas Co have mutually agreed
not to pursue further their talks on Consolidated's possible
purchase of Apollo Gas Co from Texas Oil.
No details were given.
| Financial Reports |
ARVIN INDUSTRIES SEES FLAT 1ST QTR PER SHARE NET COMPARED WITH 59 CTS LAST YEAR
|
ARVIN INDUSTRIES SEES FLAT 1ST QTR PER SHARE NET COMPARED WITH 59 CTS LAST YEAR
| Financial Reports |
ROCKY MOUNT <RMUC> EXPECTS PROFIT IN FIRST QTR
| Hal Weiss, chairman,
president and chief executive officer, of Rocky Mount
Undergarment Co Inc, said he expects the company to show a
profit for the first quarter fiscal 1987.
Weiss said sales for 1987 have been strong following a net
loss of 1,548,000 dlrs, or 53 cts a share, for the fourth
quarter o... | Corporate News |
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