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Congresss long-awaited agreement last Friday on an urgent bill to fund government operations is expected to clear the way for the Agriculture Department to unlock its coffers closed since May 1. House and Senate negotiators breaking an extended logjam over fiscal 1987 funding agreed to appropriate 5.6 billion dlrs to t... | U.S. CONGRESS RESOLVES CCC FUNDING CRISIS |
FRENCH 13-WEEK T-BILL AVERAGE RATE FALLS TO 7.66 PCT FROM 7.72 PCT - OFFICIAL | |
French retail prices rose a confirmed 0.2 pct in May compared with a 0.5 pct rise in April and 0.2 pct in May last year the National Statistics Institute (INSEE) said. The rise took the year-on-year inflation rate to 3.4 pct in May from 3.5 pct in April and brought cumulative inflation over the first five months of thi... | FRENCH INFLATION CONFIRMED AT 0.2 PCT IN MAY |
BET Plc <BETL.L> said it will apply for listings on the New York and Toronto stock exchanges. BET said it filed its registration statement with the authorities in North America for the share issue cleared by its shareholders at the extraordinary meeting on March 19. The combined offering will involve up to 25.8 mln ... | BET TO APPLY FOR LISTINGS IN NEW YORK, TORONTO |
British Airways Plcs <BAB.L> May passenger and cargo traffic figures provided evidence of recovery from last years setbacks and this trend will be reflected in first quarter results due in August chairman Lord King told the annual meeting. Earlier this month the newly-privatised airline reported a 29 pct rise in pas... | BRITISH AIRWAYS SEES FIRST QUARTER RECOVERY |
The New York Stock Exhcange said it is reviewing the eligiblity for continued listing of the common stock and 5.875 dlrs cumulative convertible preferred stock series C of Allis-Chalmers Corp in view of its announcement that it has filed a voluntary petition under Chapter 11 of the Federal bankruptcy code. Reuter | ALLIS-CHALMERS <AH> LISTING EXAMINED BY NYSE |
Lead manager Algemene Bank Nederland (ABN) said it has completed the formation of a syndicate for Dutch chemical firm Akzo NV <AKZO.AS>s three-year 14 pct 50 mln Australian dlr bonds priced at 101.5 pct. Co-lead manager is Hambros Bank of London ABN said. Co-managers are Bankers Trust International Ltd Banque Bruxel... | ABN DETAILS SYNDICATE FOR 50 MLN AUS DLR AKZO LOAN |
Staley Continental Inc said it sold its 50 interest in Sociedad Iberica de Molturacion S.A. (Simsa) a soybean and sunflower seed processing company based in Madrid Spain. Staleys investment in Simsa no longer fit its overall coporate strategy and an agreement to sell the interest was completed in May it said. Staley sa... | STALEY <STA> SELLS INTEREST IN SPANISH VENTURE |
MARTIN PROCESSING SAID IT ACCEPTS 20 DLRS/SHARE BID FROM COURTAULDS PLC | |
Lac Minerals Ltd said it filed a preliminary prospectus for an initial offering in Canada of flow-through common shares. Size and pricing of the issue have not yet been determined the company said. Reuter | LAC <LAC> FILES TO ISSUE FLOW-THROUGH SHARES |
Helene Curtis Industries Inc said due to increased expenditures budgeted to promote its new Salon Sectives brand the company will likely produce a loss for the second quarter ending August 31. In the 1986 second quarter it earned 1947000 or 53 cts a share. Earlier the cosmetics company posted first-quarter net of 13900... | HELENE CURTIS <HC> SEES 2ND QTR LOSS |
Conquest Exploration Co said it will not extend the exercise date of its publicly traded warrants after July 15 the current expiration date. Reuter | CONQUEST EXPLORATION <CQX> WARRANTS EXPIRE |
Frontier Insurance Group Inc said it acquired the malpractice book of business generated by Medical Quadrangle Inc and Medical Professional Liability Agency Ltd a producer of medical malpractice coverage. It said the acquisition will enable all of Frontiers medical malpractice coverage to be serviced internally. Reuter | FRONTIER <FRTR.O> BUYS MALPRACTICE BUSINESS |
Texas American Energy Corp said it will release information soon following the halt of its stock on the NASDAQ exchange. Reuter | TEXAS AMERICAN ENERGY <COLD.O> TO RELEASE NEWS |
Japan said an international agreement on loans to Poland was needed before Tokyo extended fresh loans to Warsaw to help a Japanese car maker set up a factory there. Prime Minister Yasuhiro Nakasone explained the conditions during the first round of talks with the visiting Polish leader Wojciech Jaruzelski foreign minis... | JAPAN SETS CONDITION FOR CAR PLANT LOAN TO POLAND |
Fidelcor Inc said it will take a one-time 30 mln dlr special provision in the second quarter for possible losses in loans to developing countries. The corporation said it will be profitable in the quarter despite the action that will reduce quarterly net income by 23 mln dlrs or 37 cts a share on a fully diluted basis.... | CORRECTED-FIDELCOR <FICR.O> TO ADD TO LOAN LOSSES |
Period end May 31 Shr profit four cts vs loss 22 cts Net profit 139000 vs loss 799000 Revs 101.9 mln vs 86.8 mln Reuter | HELENE CURTIS INDUSTRIES INC <HC> 1ST QTR NET |
Sterivet Laboratories Ltd said the U.S. Food and Drug Administration granted expedited review status for its proprietary drug Navicon. The company said future marketability of Navicon in the U.S. will be greatly facilitated by receiving expedited review status and the company should achieve wide penetration once FDA ap... | STERIVET <STVTF.O> HAS FDA REVIEW STATUS |
The World Bank is prepared to play a more aggressive role in promoting Third World development bank president Barber Conable said in a magazine interview. Our plans include initiatives on the debt front as well as greater emphasis on debt-equity swaps and the promotion of private investment in Third World countries thr... | WORLD BANK CHIEF STRESSES THIRD WORLD GROWTH |
Period ended May 31 Shr 41 cts vs 35 cts Net 15.4 mln vs 11.9 mln Revs 234.4 mln vs 96.6 mln Avg shrs 38.0 mln vs 34.4 mln Reuter | LE GROUPE VIDEOTRON LTEE <VDO.TO> NINE MTHS NET |
D and N Savings Bank said it aapplied to the Federal Home Loan Bank Board for approval to open three new branches inside K mart Corp <KM> stores in Michigan. It said one of the branches being applied for is in Grand Rapids Mich. which would bring to five the number of K mart locations in that city with D and N Bank ... | D AND N <DNSB.O> APPLIES FOR MART BRANCHES |
Oper shr three cts vs one ct Oper net 210000 vs 67000 Revs 10252000 vs 8929000 Avg shrs 7933000 vs 8553000 Six mths Oper shr five cts vs two cts Oper net 420000 vs 133000 Revs 20.3 mln vs 17.1 mln Avg shrs 7952000 vs 8551000 NOTE: 1987 earnings exclude gain from utilization of tax loss carryforwards of 125000 dlrs or o... | INTER-TEL INC<INTLA.O> 2ND QTR MAY 31 OPER NET |
<New Generation Products Inc> said it has acquired a 20 pct ownership in <Personal Protection Technolgies Inc>. New Generation said Personal Protection is developing a group of personal care products which are effective in killing a variety of viruses and bacteria on contact for U.S. and export markets. Reuter | NEW GENERATION PRODUCTS MAKES ACQUISITION |
Advanced NMR Systems Inc said it extended the exercise period for its class A and class B warrants by one year. The company said class A warrants entitling the purchase of one share in Advanced Systems and one class B warrant at four dlrs per unit will now be execrisable unitl Aug 18 1988. The class B warrants entitlin... | ADVANCED NMR SYSTEMS <ANMR.O> EXTENDS WARRANTS |
Shr 15 cts vs 12 cts Net 1240939 dlrs vs 989714 dlrs Revs 32.9 mln dlrs vs 21.1 mln dlrs Note: first quarter ended May 31. The companys full name is Town and Country Jewelry Manufacturing Corp Reuter | TOWN AND COUNTRY JEWELRY <TNC> FIRST QTR NET |
Shr 19 cts vs 16 cts Net 502000 dlrs vs 401000 dlrs Revs 8.8 mln dlrs vs 6.7 mln dlrs Six mths Shr 38 cts vs 29 cts Net 989000 dlrs vs 745000 dlrs Revs 16.3 mln dlrs vs 12.5 mln dlrs Reuter | DATA ARCHITECTS INC <DAI> 2ND QTR MAY 31 NET |
Martin Processing Inc said its board approved an agreement to be acquired by Courtaulds Plc <COU.L> for 20 dlrs a share. The company said the transaction is valued at more than 99 mln dlrs based on its 4963620 shares of stock outstanding. It said Courtaulds has privately agreed to purchase a majority of Martins comm... | MARTIN PROCESSING <MPI> ACCEPTS COURTAULDS BID |
Shr 15 cts Net 3.6 mln dlrs Revs 96.9 mln dlrs Note: the company said year-ago figures are not comparable due to its reverse merger last year Reuter | LIFETIME CORP <LFT> YEAR MARCH 27 NET |
Shr loss two cts vs loss four cts Net loss 199010 dlrs vs loss 398202 dlrs Revs 1284939 dlrs vs 359440 dlrs Nine mths Shr loss 10 cts vs loss 14 cts Net loss 973542 dlrs vs loss 1298203 dlrs Revs 3.9 mln dlrs vs 1269098 dlrs Note:the third quarter ended April 30 Reuter | UNIVERSITY GENETICS CO <UGEN.O> 3RD QTR LOSS |
Nigerias military rulers will transfer power to an elected civilian government in 1992 two years later than previously planned at the conclusion of a gradual handover starting this year official sources said. The Armed Forces Ruling Council has approved the main details of the transition which will probably be announce... | NIGERIAN MILITARY MAY DELAY POWER TRANSFER |
The European Communitys annual inflation rate fell marginally to 3.2 pct in May from 3.3 pct in April the ECs statistics office Eurostat said. Prices in the 12-nation bloc rose 0.2 pct in May after 0.6 pct in April. But the annual rate stayed below that of the U.S. For the second month in succession following the relea... | EC ANNUAL INFLATION FALLS IN MAY |
BSN Corp said it purchased MacGregor Sporting Goods common stock in recent open market transactions. BSN said its position is less than the five pct ownership which would require specific disclosure. The company will continually review its position and may nelect to increase or decrease the number of shares owned it ad... | BSN <BSN> HAS PURCHASED MACGREGOR <MGS> STOCK |
Shr 38 cts vs 47 cts Net 968000 dlrs vs 1053000 dlrs Revs 15.4 mln dlrs vs 12.6 mln dlrs Note:the year ended March 31. Reuter | TELECOMMUNICATIONS NETWORK <TNII.O> YEAR NET |
Congresss long-awaited agreement last Friday on an urgent bill to fund government operations is expected to clear the way for the Agriculture Department to unlock its coffers closed since May 1. House and Senate negotiators breaking an extended logjam over fiscal 1987 funding agreed to appropriate 5.6 billion dlrs to t... | U.S. CONGRESS RESOLVES CREDIT CORP FUNDING CRISIS |
Shr 27 cts vs 14 cts Net 5664000 vs 2812000 Revs 68.2 mln vs 54.7 mln Avg shrs 21254054 vs 20167714 Reuter | HOVNANIAN ENTERPRISES <HOV> 1ST QTR MAY 31 NET |
Talks between the European Community (EC) and the United States have failed to settle a trade dispute over pasta an EC Commission spokesman said. Diplomatic sources said the dispute could provoke new trade friction unless it was settled soon. Washington is insisting that the EC comply with what it regards as an unambig... | ARMISTICE ELUDES EC AND U.S. IN SPAGHETTI WAR |
United Savings Bank said it filed an offering circular with the Federal Home Loan Bank Board covering 13 mln dlrs of its convertible subordinated debentures due 2012. It said Johnston Lemon and Co Inc is acting as representative of the underwriters. Reuter | UNITED BANK <USBK.O> FILES FOR OFFER |
President Reagan is willing to compromise with Democrats in Congress on a plan to raise new federal revenues next year if they back his plan to reform the budget process White House Budget Chief James Miller said. If the Democrats want to insist that the president say whatever is agreed to is a tax increase then theyd ... | REAGAN SAID OPEN TO DEAL ON 1988 U.S. TAX RISE |
The exercise price for the warrants attached to the 100 mln dlr eurobond for Finlands Nokia Oy <NOKS.HE> has been fixed lead manager Morgan Guaranty Ltd said. The five year par-priced deal was launched last Thursday and pays five pct. Each 5000 dlr bond has 134 warrants attached which are each exercisable into one N... | EXERCISE PRICE SET ON NOKIA EQUITY WARRANT BOND |
The Bangladesh government dropped from its proposed budget some tax increases that had provoked opposition parties to call a national strike for tomorrow. Prime Minister Mizanur Rahman Choudhury told Parliament last night the taxes were dropped to help farmers and the poor but opposition groups said the strike was stil... | BANGLADESH GOVERNMENT DROPS BUDGET TAX PROPOSALS |
Utilicorp United Inc said its UtilCo Group subsidiary completed the purchase of a 38 pct interest in Westwood Energy Properties Limited Partnership for about 10 mln dlrs. The company said the partership is building and will operate a 30-megawatt electric generation facility in Schuykill County Penn. scheduled to begin ... | UTILICORP <UCU> UNIT BUYS STAKE IN POWER PLANT |
Exxon Co U.S.A. said it is extending marketing of its mid-grade unleaded gasoline Exxon Plus into the Houston and Dallas/Fort Worth metropolitan areas beginning early next month. Exxon Corps domestic subsidiary is already marketing the 89-octane unleaded gasoline along much of the East Coast. As it introduces the third... | EXXON <XON> EXTENDS MID-GRADE UNLEADED MARKETING |
John Labatt Ltd said it acquired the Canadian brewing and marketing rights to the Carlsberg group of brands effective July 1 1988. Carlsberg products are now marketed in Eastern Canada by Carling OKeefe Ltd wholly owned by Elders IXL Ltd <ELXA.S>. Labatt said its agreement with United Breweries International Ltd of ... | LABATT <LBT.TO> HAS CARLSBERG BREWIING RIGHTS |
Coradian Corp said a group led by privately held Sage Equities Group agreed to buy a 7.6 pct interest in Coradian. In connection with the agreement the company said it sold 666667 shares at 75 cts a share. It said that in addition to common stock Sage Equities will receive 667667 warrants exercisable at 1.50 dlrs a sha... | CORADIAN <CDIN.O> STAKE ACQUIRED BY SAGE |
Shr 24 cts vs 18 cts Shr diluted 21 cts vs 18 cts Net 2108805 vs 1605278 Sales 28.9 mln vs 24.2 mln NOTE: Share results reflect two for one stock split to be paid July eight Reuter | SIKES CORP <SKA> 1ST QTR MAY 31 NET |
Danish crops are up to two weeks behind normal growth levels due to the cold weather in May and June when mean temperatures were up to four centigrade below average the State Plant Cultivation Bureau said in a report. At the seasons first crop test on June 26 the bureau rated crops at an overall 94 the same as on June ... | DANISH CROPS TWO WEEKS BEHIND, OFFICIAL REPORT |
Pirelli group unit Pirelli Cable Corps communications division said it signed a cable supply contract with NYNEX Corp <NYN> unit NYNEX Enterprises. The company said Pirelli will supply NYNEX with fiber optic cables over the next year. Terms of the contract were not disclosed. Reuter | PIRELLI GROUP <PIRI.M> UNIT SELLS CABLE |
Unicorp American Corp said it sold three properties in the Boston area for aggregate proceeds of about 6300000 dlrs resulting in a pre-tax gain of of about 3200000 dlrs. Income tax expense totaling about 1700000 dlrs reduced this gain to about 1500000 dlrs for financial reporting purposes the company said. The properti... | UNICORP <UAC> REPORTS GAIN FROM PROPERTY SALe |
KODAK IS DISTRIBUTING AIDS TEST KIT MADE BY CELLULAR PRODUCTS | |
The Reserve Bank of India RBI announced new rules to allow exporters of 25 products to use foreign exchange up to 10 pct of their firms total annual export earnings for export promotion abroad. The move is designed by the government to improve Indias trade deficit. Products eligible for the new Blanket Exchange Permit ... | INDIA RELAXES RULES FOR EXPORT PROMOTION |
Textron Inc unit Bell Helicopter Textron Inc said it and two United Auto Workers union locals agreed to a new three-year contract ending a three week strike. It said production and maintenance members of Local 218 had been on strike for three weeks while clerical members of Local 317 had been on strike for a week. A to... | TEXTRON <TXT> UNIT STRIKE ENDS |
Shr four cts vs one ct Net 335000 vs 67000 Rev 10.1 mln vs 8.7 mln Avg shares 7933000 vs 8553000 Six Months Shr seven cts vs two cts Net 570000 vs 133000 Rev 19.9 mln vs 16.8 mln Avg shares 7952000 vs 8551000 NOTE: Qtr includes extraordinary gain of 125000 dlrs or one ct a share while six months net includes gain of 15... | INTER-TEL INC <INTLA.O> 2ND QTR MAY 31 NET |
ENTERTAINMENT MARKETING DEMANDS CRAZY EDDIE SHAREHOLDER LIST, MAY PURSUE MERGER | |
Unisys Corp said its public sector systems division will market the ICON Series an enhanced microcomputer system for use in the classroom. It said the computer made by Ontario based <Meridian Technologies Inc> allows students and teachers to run multiple programs simultaneously. It said the computer costs 1895 dlrs ... | UNISYS <UIS> OFFERS NEW CLASSROOM COMPUTER |
Pennzoil Co said it was advised by the Securities and Exchange Commission that that commission will file an amicus curiae brief in the Texas Supreme Court concerning the Pennzoil/Texaco Inc (TX) litigation but said it was not aware whether that brief will adopt the position of one of the litigants. Pennzoil said the br... | PENNZOIL (PZL) ADVISED OF SEC BRIEF |
Eastman Kodak Co said it is marketing a test kit for the AIDS antibody developed and manufactured by Cellular Products Inc. Kodak said the kit is the first in a series of diagnostic tests for certain retroviruses infectious diseases and various forms of cancer the company will distribute. A Kodak spokesman would not gi... | KODAK <EK> MARKETING CELLULAR <CELP.O> AIDS TEST |
DataCard Corp said it adopted a dividend rights plan in response to Deluxe Check Printers Inc <DLX> having agreed to sell its 38 pct interest in DataCard to National Computer Systems Inc <NLCS.O>. DataCard declared a dividend distribution of one preferred stock purchase right on each outstanding share its common ... | DATACARD <DATC.O> ADOPTS DIVIDEND RIGHTS PLAN |
Shr 12 cts vs one cent Net 546000 vs 48000 Revs 22.3 mln vs 16.0 mln Nine mths Shr 44 cts vs seven cts Net 1857000 vs 303000 Revs 65.5 mln vs 46.0 mln NOTE: Per share figures adjusted for three-for-two stock split paid April 1987. Reuter | SHELDAHL INC <SHEL> 3RD QTR MAY 30 NET |
Federal Resources Corp said it has acquired the capital stock and related real estate assets of <New Generation Inc> a regional consumer electronics specialty retailer. Terms of the acquisition were not disclosed. New Generation has annual sales volume of about 30 mln dlrs Federal Resources said. Federal Resources s... | FEDERAL RESOURCES <FDRC.O> ACQUIRES RETAILER |
First Union Corp said its second quarter (ending June 30) earnings will be down around 13 cts a share from 65 cts a share in the second quarter last year to an estimated 59 mln dlrs or 53 cts a share. The company said this will be the result of adding 25 mln dlrs to its reserve for Latin American loan exposures bringin... | FIRST UNION CORP <FUNC.O> SEES LOWER 2ND QTR |
Enetertainment Marketing Inc and its president Elias Zinn have demanded a list of Crazy Eddie Inc shareholders from the company and said they may pursue a merger of the Edison N.J. electronics retailer. In a filing with the Securities and Exchange Commission Zinn said the demand for the shareholder list was made on Jun... | ENTERTAINMENT <EM> MAY SEEK CRAZY EDDIE <CRZY> |
U.S. moves to increase its warships in and around the Mideast Gulf could trigger more attacks on unprotected merchant ships but run little risk of sparking a direct military clash with Iran diplomats said. They said the American decision inevitably carries some risk of armed confrontation but Iran -- despite its blunt ... | CHANCES OF DIRECT U.S.-IRAN GULF CLASH SEEN LOW |
Chrysler Corp is negotiating with the Chinese Government owned First Autoworks about a project in which the Dodge 600 mid-sized car could be added to the Chinese firms lineup the trade paper Automotive News said. It said Chrysler is discussing the supply of 2.2 liter four-cylinder engines as well as tooling for the 600... | CHRYSLER <C> REPORTED TO BE IN TALKS WITH CHINA |
Conquest Exploration Co said the expiration date of its publicly traded warrants will not be extended after July 15. Reuter | CONQUEST EXPLORATION <CQX> SEES WARRANTS EXPIRE |
Hathaway Corp said it restructured its debt financing which provides 15 mln dlrs for expansion and operations of the company twice the debt financing previously available to the company. As part of the restructuring Hathaway said it obtained 10 mln dlrs of long-term financing from Household Commercial Financial Service... | HATHAWAY <HATH.O> RESTRUCTURES DEBT |
Video Jukebox Network Inc said it has extended through July two the exclusive period provided in its May 29 letter of intent the option to sell to a group of investors 3500000 shares of the four mln shares of the companys common stock owned by its founder and president Steven A. Peters. Video said it currently has 7525... | VIDEO JUKEBOX <JUKE.O> SETS PURCHASE EXTENSION |
FED SETS TWO-DAY SYSTEM REPURCHASES, FED SAYS | |
Cyclops Corp said shareholders approved a previously announced merger of the company with a subsidiary of dixons Group PLC. It said Dixons held about 83 pct of Cyclops stock following a tender offer and other purchases earlier in the year. With the completion of the transaction Dixons will proceed to pay 95 dlrs a shar... | CYCLOPS <CYL> MERGER APPROVED |
Leeco Diagnostics Inc said its sales team will be expanded due to the initial success of its Preview pregnancy test kit. The company said the sales team which sells to test kit to physicians is expected to rise to 150 from 100 in the next 45 days. It said test kits will be sold in U.S. drug stores later this year. The ... | LEECO <LECO.O> EXPANDS SALES TEAM |
Amax Zinc Co a division of Amax Inc said it is increasing the price of dyecast alloys No. Three and No. Five by three cents a lb effective immediately. Dyecast alloy No. Three is now 52.5 cents a lb while alloy No. Five is now 53.5 cents a lb the company said. Reuter | AMAX ZINC CO RAISES DYECAST ALLOY PRICES |
The Federal Reserve entered the government securities market to arrange two-day repurchase agreements for system account a spokesman for the New York Fed said. Federal funds were trading at 6-3/4 pct at the time of the direct injection of temporary reserves in line with Fridays 6.72 pct average. Reuter | FED SETS TWO-DAY SYSTEM REPURCHASES |
Chrysler Corp is negotiating with the Chinese Government owned First Autoworks about a project in which the Dodge 600 mid-sized car could be added to the Chinese firms lineup the trade paper Automotive News said. It said Chrysler is discussing the supply of 2.2 liter four-cylinder engines as well as tooling for the 600... | CHRYSLER SAID IN AUTO SUPPLY TALKS WITH CHINA |
Pharmacontrol Corp said it has closed its public offering of 23000 units. The company said each unit consists of 1000 dlrs principal amount of subordinated convertible debentures due 2002 which convert at six dlrs a share into 167 shares of common stock. Also each unit included 70 shares of common stock which were imme... | PHARMACONTROL <PHAR.O> CLOSES PUBLIC OFFERING |
Asea Group AB <ASEAY> said it has been awarded a 110 mln dlr contract from the Swedish State Power Board and the Finnish utility <Imitran Oma Oy>. The company said the contract is for a 500 megawatt 400 kv fenno skan high voltage DC transmission to be built between Sweden and Finland. The company also said three ... | ASEA GROUP AWARDED 110 MLN DLR POWER CONTRACT |
Vernitron Corp said it has set a new record date of July 10 for shareholders entitled to vote on the proposed merger of Vernitron with <SB Holding Corp>. The original record date was May 26. Vernitron said that it currently expects the special shareholder meeting concerning the merger will be held in August. Followi... | VERNITRON <VRN> SETS NEW RECORD DATE |
Centel Corp is raising 60 mln dlrs via an issue of debentures due 1997 said lead underwriter Smith Barney Harris Upham and Co Inc. Smith Barney headed a syndicate that won the debentures in a competitive bidding. It bid the issue at 99.338 and set a 10 pct coupon and reoffering price of par to yield 146 basis points ov... | CENTEL CORP <CNT> SELLS DEBENTURES |
Energas Co said it has agreed in principle to purchase Western Kentucky Gas Co from Texas American Energy Corp for 61.5 mln dlrs in cash plus assumptrion of certain liabilities. Western Kentucky is a gas distribution company which serves about 143000 customers in 108 towns and communities in Kentucky. Reuter | ENERGAS <EGAS.O> TO BUY TEXAS AMERICAN <TAE>UNIT |
The Franklin Group of Funds said <Franklin Pennsylvania Investors Equity Fund> will pay an initial semi-annual dividend of seven cts July 14 to holders of record July one. Reuter | FRANKLIN PENNSYLVANIA INVESTORS FUND DIVIDEND |
TNT Skypak a unit of TNT Ltd of Australia said it introduced a new worldwide express package delivery service that will starts operation today. At a press conference executive said the service TNT Expressair will delivery packages up to 220 lbs from any location in the U.S. anywhere in the world and from overseas locat... | TNT SETS NEW PACKAGE DELIVERY SERVICE |
Gibraltar Financial Corp said its Gibraltar Savings unit has agreed in principle to buy <First Federal Savings and Loan of Ridgecrest> for about 12.1 mln dlrs cash. The company said the actual price will be determined at the close based on net book value at May 31. It said First Federal is located in Kearn County no... | GIBRALTAR <GFC> TO BUY THRIFT FOR 12 MLN DLRS |
Winley Home Builders Inc said it completed a land purchase agreement with M.D.C. Holdings Inc <MDC> for 1090000 dlrs in notes and preferred stock. The company said it bought 33 lots in Colorado from Richmond Homes Ltd an M.D.C. unit in return for 650000 dlrs in promissory notes and 440000 dlrs in preferred stock. Th... | WINLEY BUYS LAND FROM M.D.C. HOLDINGS INC <MDC> |
Shr three cts vs two cts Net 97224 vs 58503 Rev 906368 vs 714747 Avg shrs 3300000 vs 3948719 Reuter | STAR CLASSICS INC <SCLS.O> 1ST QTR MARCH 31 NET |
The European Investment Bank is raising 200 mln marks through an eight-year bullet eurobond carrying a 6-1/8 pct coupon and priced at 99-1/2 pct to yield 6.21 pct at issue lead manager Westdeutsche Landesbank Girozentrale said. Payment date is July 16 the bond pays interest on that date annually and matures on that dat... | EIB LAUNCHES 200 MLN MARKS BULLET BOND |
GABELLI FIRMS HAVE 28.5 PCT STAKE IN DIGIORGIO CORP, MAY SEEK CONTROL | |
Apollo Computer Inc said it introduced a new family of computer workstations and improved the performance and cut prices on some of its existing workstations. In addition the company announced new products that allow personal computers to communicate with workstations. Apollo said its new workstation family the Domain ... | APOLLO <APCI.O> OFFERS NEW WORKSTATIONS |
Qtly dividend 23 cts vs 21.6 cts in prior qtr Payable July 14 Record July one Dividend includes short-term capital gain of 20 cts vs 16 cts short-term and 2.2 cts long-term gains in prior quarter Reuter | <FRANKLIN OPTION FUND> SETS DIVIDEND |
DSC Communications Corp said it signed a supply agreement with United Telephone System Inc to deliver DSC Signal Transfer Points valued at about 3.0 mln dlrs. It said the agreement runs through 1990 with product deliveries expected to start later this year. Reuter | DSC COMMUNICATIONS<DIGI.O> IN SUPPLY AGREEMENT |
year ended March 31 Shr three cts vs 11 cts Net 384723 vs 800137 Revs 5.1 mln vs 3.5 mln Reuter | CLEOPATRA KOHLIQUE INC <CLEO.O> YEAR NET |
Interstate Bakeries Corp said its Royal American Foods subsidiary agreed to buy the assets of Landshire Food Products Inc a New-Mexico-based producer of packaged Mexican food products. Terms of the proposed transaction were not disclosed. Reuter | INTERSTATE BAKERIES <IBC>BUYS MEXICAN FOOD FIRM |
Period ended May 31. Shr loss eight cts vs profit six cts Net loss 895000 vs profit 662000 Sales 91.1 mln vs 89.8 mln Reuter | FEDERATED GROUP INC <FEGP.O> 1ST QTR LOSS |
A group of firms led by Gabelli Group Inc told government regulators it holds a 28.5 pct stake in Digiorgio Corp common stock and said two partnerships making up part of the group may seek control of the company. In a filing with the Securities and Exchange Comission the group of firms said it holds 2430100 shares of D... | GABELLI FIRMS HOLD 28.5 DIGIORGIO <DIG> STAKE |
Henley Group Inc unit Wheelabrator Technologies Inc said it won a 243 mln dlrs contract from <Mississippi Chemical Corp> unit Newsprint South Inc. The company said the contract is for the construction of a 224000 ton-per-year newsprint production facility in Grenada. Reuter | HENLEY GROUP <HENG> UNIT WINS NEWS PLANT ORDER |
Brazils motor industry facing the worst crisis of its history today sent thousands of workers on collective leave because of a sharp drop in demand. Company spokesmen said Autolatina which last Friday laid off 4000 workers sent nearly 9000 of its 56500 employees in Brazil on collective leave until July 12. General Moto... | BRAZIL MOTOR INDUSTRY SENDS 9,000 ON LEAVE |
Finance Minister Gibson Chigaga said all of Zambias traditional financial backers apart from Britain had pledged continued backing for the countrys new go-it-alone economic program announced last month. Chigaga told Reuters in an interview it was not true that Western states had threatened to withold financial aid foll... | WESTERN DONORS STILL BACKING ZAMBIA, SAYS MINISTER |
Consolidated-Bathurst Inc said three of its Quebec newsprint mills have been shut down by strikes which began over the weekend. The company said about 2000 workers members of the Canadian Paperworkers Union and another independent union walked out at its Wayagamack mill at Trois-Rivieres its Laurentide mill at Grand-Me... | STRIKES HIT CONSOLIDATED-BATHURST <cb.to> MILLS |
IBM Credit Corp said it filed with the Securities and Exchange Commission a registration statement covering a 500 mln dlr issue of medium-term notes. Proceeds will be used for general corporate purposes. The company named First Boston and Salomon Brothers as agents for the offering. Reuter | IBM CREDIT <IBM> FILES FOR NOTE OFFERING |
Unicoa Corp said it agreed to a merger with its wholly-owned subsidiary United Insurance Co of America. Under the agreement each outstanding share of Unicoa common stock will be converted into one share of United common stock. The agreement is subject to shareholder and regulatory approval. Teledyne Inc <TDY> owns a... | <UNICOA> TO MERGE INTO ITS UNITED INSURANCE UNIT |
Epitope Inc said it has developed a set of independent control reagents for laboratories performing AIDS testing. The control set consists of human blood serum free of AIDS antibodies serum with early signs of antibody formation and serum with strong antibody components. The company said the control sets are designed f... | EPITOPE <EPTO.O> SETS AIDS TEST CONTROL SERUM |
Weekend rain over the Western Corn Belt brought further relief to crop areas that had been dry earlier this month and developing weather patterns will bring welcome moisture to central and eastern belt locations this week according to Dale Mohler senior meteorologist for Accu-Weather Inc. There is going to be more rain... | RAINS HELP U.S. WESTERN CORN BELT, MORE SEEN |
U.S. car production is scheduled to drop by 10.4 pct to about 1.47 mln in the third quarter from last years 1.63 mln as domestic automakers react to a drop in sales from last years record levels trade paper Automotive News said. Automotive News said General Motors Corp <GM> has slashed its planned car production by ... | U.S. CAR OUTPUT SEEN DROPPING IN 3RD QTR |
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