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SANDOZ PLANS WEEDKILLER JOINT VENTURE IN USSR | Sandoz AG said it planned a joint venture
to produce herbicides in the Soviet Union.
The company said it had signed a letter of intent with the
Soviet Ministry of Fertiliser Production to form the first
foreign joint venture the ministry had undertaken since the
Soviet Union allowed Western firms to enter into join... |
TAIWAN REJECTS TEXTILE MAKERS EXCHANGE RATE PLEA | Central bank governor Chang Chi-cheng
rejected a request by textile makers to halt the rise of the
Taiwan dollar against the U.S. Dollar to stop them losing
orders to South Korea, Hong Kong and Singapore, a spokesman for
the Taiwan Textile Federation said.
He quoted Chang as telling representatives of 19 textile
as... |
NATIONAL FSI INC <NFSI> 4TH QTR LOSS | Shr loss six cts vs profit 19 cts
Net loss 166,000 vs profit 580,000
Revs 3,772,000 vs 5,545,000
Year
Shr loss 13 cts vs profit 52 cts
Net loss 391,000 vs profit 1,425,000
Revs 15.4 mln vs 16.6 mln
NOTE: 1985 year figures pro forma for purchase accounting
adjustments resulting from March 198... |
OCCIDENTAL <OXY> OFFICIAL RESIGNS | MidCon Corp, a subsidiary of
Occidental Petroleum Corp <OXY>, said William C. Terpstra has
resigned as president and chief operating officer and his
reponsibilities will be assumed by MidCon chairman O.C. Davis.
No reason was given.
Reuter
|
ITALY'S BNL TO ISSUE 120 MLN DLR CONVERTIBLE BOND | Italy's state-owned <Banca Nazionale del
Lavoro - BNL> said it would issue 120 mln dlrs of five-year
convertible eurobonds, an operation to be lead-managed by
<Credit Suisse-First Boston Ltd>.
BNL president Nerio Nesi told a news conference that the
issue, to be placed on the main international markets and
listed i... |
GE <GE> SAYS AMR <AMR> ORDER WORTH 650 MLN DLRS | General Electric Co said AMR
Corp's oprder of GE CFG-80C2 engines to power 25 new <Airbus
Industrie> A300-600R and 15 Boeing Co <BA> 767-300ER twinjets
is worth over 650 mln dlrs.
The company said the order is the largest single one it has
ever received for commercial aircraft engines.
AMR announced the order e... |
<PRECAMBRIAN SHIELD RESOURCES LTD> YEAR LOSS | Shr loss 1.93 dlrs vs profit 16 cts
Net loss 53,412,000 vs profit 4,479,000
Revs 24.8 mln vs 32.7 mln
Note: 1986 shr and net include 51,187,000 dlr writedown on
U.S. operations, uneconomic coal operations and other mineral
properties
Reuter
|
U.K. MONEY MARKET GIVEN FURTHER 437 MLN STG HELP | The Bank of England said it had provided the
money market with a further 437 mln stg assistance in the
afternoon session. This brings the Bank's total help so far
today to 461 mln stg and compares with its revised shortage
forecast of 450 mln stg.
The central bank made purchases of bank bills outright
comprising 12... |
GREASE MONKEY HOLDING CORP <GMHC> YEAR NOV 30 | Shr nil vs nil
Net 130,998 vs 30,732
Revs 1,568,941 vs 1,0053,234
Reuter
|
ACCEPTANCE INSURANCE HOLDINGS INC <ACPT> YEAR | Oper shr profit 1.80 dlrs vs loss 2.28 dlrs
Oper net profit 2,048,0000 vs loss 1,318,000
Revs 25.4 mln vs 12.3 mln
Avg shrs 1,135,000 vs 576,000
NOTE: Net excludes realized investment gains of 40,000 dlrs
vs 13,000 dlrs.
1986 net excludes 729,000 dlr tax credit.
Reuter
|
MINSTAR INC <MNST> 4TH QTR NET | Oper shr loss 31 cts vs loss 30 cts
Oper net loss 5,429,000 vs loss 5,216,000
Revs 257.5 mln vs 243.6 mln
Avg shrs 17.5 mln vs 13.5 mln
Year
Oper shr loss eight cts vs profit 28 cts
Oper net loss 1,324,000 vs profit 4,067,000
Revs 989.5 mln vs 747.9 mln
Avg shrs 17.6 mln vs 15.7 mln
... |
DAI-ICHI HOTEL SWISS FRANC NOTES COUPON CUT | The coupon on Dai-Ichi Hotel Ltd's 50 mln
Swiss franc issue of five-year notes with equity warrants has
been cut to 1-5/8 pct from the indicated 1-7/8 pct, lead
manager Swiss Volksbank said.
The warrants have an exercise price of 1,507 yen per share,
compared with the last traded price of 1,470 yen, it said.
Th... |
<MARK RESOURCES INC> YEAR LOSS | Shr not given
Loss 54.9 mln
Revs 27.2 mln
Note: Prior year results not given. 1986 results include
accounts of 89 pct owned <Precambrian Shield Resources Ltd>,
acquired November 5, 1986
Reuter
|
SAAB-SCANIA ISSUES 150 MLN DLR EUROBOND | Saab-Scania AB is issuing a 150 mln dlr
eurobond due April 2, 1992 paying 7-3/4 pct and priced at
101-3/4 pct, lead manager Morgan Guaranty Ltd said.
The bond is available in denominations of 5,000 and 50,000
dlrs and will be listed in London. Payment date is April 2,
1992.
Fees comprise 1-1/4 pct selling conce... |
TRANSFORM LOGIC <TOOG> REVISES RESULTS DOWNWARD | Transform Logic Corp said it
has revised downward its previously reported fourth quarter and
year, ended October 31, results to reflect compensation expense
for employee stock options.
The company said resolution of this disagreement with its
auditors came as a result of Securities and Exchange Commission
involveme... |
AMERICAN STORES <ASC> SEES LOWER YEAR NET | American Stores Co said it
expects to report earnings per share of 3.70 to 3.85 dlrs per
share on sales of slightly over 14 billion dlrs for the year
ended January 31.
The supermarket chain earned 4.11 dlrs per share on sales
of 13.89 billion dlrs last year.
The company did not elaborate.
Reuter
|
KASLER CORP <KASL> 1ST QTR JAN 31 NET | Shr profit three cts vs loss seven cts
Net profit 161,000 vs loss 367,000
Revs 24.3 mln vs 26.5 mln
Reuter
|
CARIBBEAN SELECT <CSEL> TO REDEEM WARRANTS | Caribbean Select Inc said it has
elected to redeem on April 10 all its Class A warrants and all
Class B warrants at 0.01 ct each.
At the same time, it said its board has decided to reduce
the exercise price of the Class B warrants to 3.50 dlrs per
common share from four dlrs to encourage the exercise of the
warrant... |
UNILEVER HAS IMPROVED MARGINS, VOLUMES IN 1986 | Unilever Plc <UN.A> and NV group reported
improvements in margins and underlying sales volume growth of
five pct in 1986 after stripping out the effects of falling
prices, disposals and currency movements, Unilever Plc chairman
Michael Angus said.
He told reporters that volumes in North America increased
some 10.5 ... |
SARA LEE <SLE> TO BUY 34 PCT OF DIM | Sara Lee Corp said it agreed to buy a 34
pct interest in Paris-based DIM S.A., a subsidiary of BIC S.A.,
at a cost of about 84 mln dlrs.
DIM S.A., a hosiery manufacturer, had 1985 sales of about
260 mln dlrs.
The investment includes the purchase of 360,537 newly
issued DIM shares valued at about 51 mln dlrs and... |
HOLIDAY CORP <HIA> HOTEL GROUP ADDS PROPERTIES | Holiday Corp's Holiday Inn Hotel
Group said it will add a record 17 hotels with 4,440 rooms to
its international division as part of its plan to double its
presence abroad by 1995.
The company said its international division will reach
50,000 rooms by this spring, classifying it as the eighth
largest hotel chain in... |
CHINA CALLS FOR BETTER TRADE DEAL WITH U.S. | China called on the United States to
remove curbs on its exports, to give it favourable trading
status and ease restrictions on exports of high technology.
But the U.S. Embassy replied that Chinese figures showing
13 years of trade deficits with the U.S. Out of the last 15 are
inaccurate and said Peking itself woul... |
U.S. COMMERCE SECRETARY SAYS EXPORT RISE NEEDED | Commerce Secretary Malcolm Baldrige
said after the release of a sharply lower January leading
indicator index that a pickup in exports is needed.
"The best tonic for the economy now would be a pickup in net
exports," he said in a statement after the department reported
the index fell 1.0 pct in January from Decembe... |
PRECAMBRIAN SHIELD TAKES 51 MLN DLR WRITEDOWN | <Precambrian Shield Resources
Ltd>, earlier reporting a large loss against year-ago profit,
said the 1986 loss was mainly due to a 51,187,000 dlr writedown
on its U.S. operations, uneconomic coal and other mineral
properties.
Precambrian, which is 89 pct owned by <Mark Resources Inc>,
said it took the writedown in ... |
AERO SERVICES <AEROE> GETS NASDAQ EXCEPTION | Aero Services Inc said its
common stock will continue to be included for quotation in the
National Association of Securities Dealers' NASDAQ system due
to an exception from filing requiements, which it failed to
meet as of January 15.
The company said while it believes it can meet conditions
the NASD imposed for th... |
KENYAN ECONOMY FACES PROBLEMS, PRESIDENT SAYS | The Kenyan economy is heading for
difficult times after a boom last year, and the country must
tighten its belt to prevent the balance of payments swinging
too far into deficit, President Daniel Arap Moi said.
In a speech at the state opening of parliament, Moi said
high coffee prices and cheap oil in 1986 led to e... |
TRI-STAR <TRSP> CHANGING FISCAL YEAR | Tri-Star Pictures Inc said it is
changing its fiscal year to year ending at the end of February
from a calendar year to reflect the traditional business cycles
of its two principal businesses, motion picture distribution
and motion picture exhibition.
It said it expects to file a report for the two-month
fiscal "ye... |
LIFETIME <LFT> TO MAKE ANNOUNCEMENT | Lifetime Corp said it will make an
announcement this morning between 1000 EST and 1030 EST.
A company spokesman said the company preferred not to
comment until that time.
The American Stock Exchange delayed trading in Lifetime
shares this morning for news pending.
Reuter
|
SCOTT'S HOSPITALITY ACQUIRES CAPITAL FOOD | <Scott's Hospitality Inc> said it
acquired all issued shares of Capital Food Services Ltd, of
Ottawa. Terms were not disclosed.
Scott's said Capital Food had 1986 sales of more than 20
mln dlrs and will continue to operate under its present name
with existing management.
Capital Food provides food services to s... |
ZIMBABWE COFFEE OUTPUT SET TO RISE | Zimbabwean coffee output will reach
13,000 tonnes this year, up on just over 11,000 tonnes produced
in 1986, the Commercial Coffee Growers Association said.
Administrative Executive Robin Taylor told the domestic
news agency ZIANA that Zimbabwe earned the equivalent of 33 mln
U.S. Dlrs from coffee exports last year... |
YANKEE <YNK> SWAPS STOCK FOR DEBENTURES | Yankee Cos Inc said it has
acquired 3,916,000 dlrs of 7-1/2 pct convertible subordinated
debentures due May 15, 1998 of its YFC International Finance NV
affiliate for 501,807 common shares from an institutional
investor.
Reuter
|
VIDEO DISPLAY <VIDE> TO SELL CABLE TV UNIT | Video Display Corfp said it has reached
a tentiative agreement to sell its existing cable television
business for undisclosed terms and expects to report a gain on
the transaction. The buyer was not named.
The company said it will redeploy its service assets into
manufacturing and distribution.
It said the ope... |
INTEK DIVERSIFIED CORP <IDCC> 4TH QTR NET | Shr three cts vs three cts
Net 98,20000 vs 91,898
Revs 2,843,520 vs 2,372,457
Year
Shr 13 cts vs 21 cts
Net 401,179 vs 681,374
Revs 10.5 mln vs 9,699,535
Reuter
|
BERYLLIUM INT'L SIGNS JOINT VENTURE PACT | <Beryllium International
Corp> said it has signed a joint venture agreement with Cominco
American Inc, a unit of Cominco Ltd <CLT>, to develop a
beryllium mine and processing plant on Beryllium
International's property in the Topaz Mountains southwest of
Salt Lake City.
Beryllium said as a 49 pct owner of the ventu... |
U.S. SINGLE-FAMILY HOME SALES FELL 6.8 PCT IN JAN AFTER REVISED 12.1 PCT DEC GAIN
| |
U.S. HOME SALES FELL 6.8 PCT IN JANUARY | Sales of new single-family homes in
the United States fell 6.8 pct in January from December to a
seasonally adjusted annual rate of 716,000 units, the Commerce
Department said.
The department revised downward December's sales to a 12.1
pct rise to 768,000 units from the previously reported 12.7 pct
increase.
Th... |
DIMIS <DMS> EXTENDS LIFE OF WARRANTS BRIEFLY | Dimis Inc said it has extended
by five business days the expiration of its common stock
purchase warrants until March Nine.
It said over one mln have already been exercised. The
warrants became effective February 17.
Holders exercising will receive a new warrant expiring
March 31 allowing the purchase of half ... |
AMERICAN BARRICK <ABX> UNIT COMPLETES ISSUE | <American Barrick Resources Corp> said
wholly owned Barrick Resources (USA) Inc completed the
previously announced 50 mln U.S. dlr issue of two pct gold
indexed notes, which are guaranteed by American Barrick.
Reuter
|
COMMUNITY BANK <CBSI> TO MAKE ACQUISITION | Community Bank System Inc said it
has entered into a definitive agreement to acquire Nichols
Community Bank for 2,800,000 dlrs in common stock.
It said subject to approval by Nichols shareholders and
regulatory authorities, the transaction is expected to be
completed later this year.
Reuter
|
BELGIAN UNEMPLOYMENT FALLS IN FEBRUARY | Belgian unemployment, based on the
number of jobless drawing unemployment benefit, fell to 12.1
pct of the working population at the end of February from 12.6
pct at the end of January, the National Statistics Office said.
The rate compares with 12.4 pct at the end of February
1986.
The total number of jobless ... |
KODAK <EK> HAS NEW DATA STORAGE, USAGE SYSTEMS | Eastman Kodak Co said it is introducing
four information technology systems that will be led by today's
highest-capacity system for data storage and retrieval.
The company said information management products will be
the focus of a multi-mln dlr business-to-business
communications campaign under the threme "The New... |
BANGOR HYDRO <BANG> SEEKS RATE CUT | Bangor Hydro-Electric Cor said it
has filed with the Maine Public Utilities Commission (MPUC) for
a two-stage base rate reduction.
Bangor Hydro said the first stage, which could take effect
on April 1 and would stay effective until the MPUC makes a
final decision on the filing, could cut revenues by 6.149 mln
dlrs,... |
BROWNING-FERRIS <BFI>WASTE DISPOSAL SITE CLEARED | Browning-Ferris Industries Inc said the
Colorado Department of Health and the U.S. Environmental
Protection Agency have awarded the company permits to build and
operate a hazardous waste disposal site near Last Chance, Colo.
The company said construction will start this year and take
about 12 months, costing about ... |
PHARMACIA AB <PHAB ST> 1986 YEAR | Sales 3.65 billion crowns vs 3.40
billion.
Profit after financial items 821.2 mln crowns vs 740.2
mln.
The 1986 results include a once-off writedown of 520 mln
crowns for intangible assets, mainly the know-how paid for in
the takeover of a number of high-tech companies by the group,
Pharmacia said.
Earnin... |
VWR CORP <VWRX> FORMS NEW UNIT | VWR Corp said it has formed a new
subsidiary, Momentun Textiles, to handle the distribution of
upholstery fabrics, leathers and naugahyde to contract and
consumer furniture manufacturers.
It said its VWR Textiles and Supplies unit, which had
handled that business, will continue to distribute non-woven
textiles, con... |
HALLWOOD GROUP <HWG> OFFICIAL GET SAXON POST | Saxon Oil Development Partners' Saxon Oil
Co said its chairman Bill Saxon and chief executive officer
Steven Saxon have resigned effective immediately.
Saxon said Anthony Gumbiner, chairman and chief executive
officer of The Hallwood Group Inc, succeeds Bill Saxon as
chairman.
Hallwood owns a substantial number... |
PHARMACIA FORECASTS HIGHER 1987 EARNINGS | Pharmacia AB <PHAB ST> forecast
earnings after financial items of one billion crowns in 1987 vs
821.2 mln last year on condition that exchange rates remained
at their present parities.
Sales would in such circumstances go up to six billion
crowns from 3.65 billion in 1986, it said.
A weakening Dollar was mainly... |
BERYLLIUM INT'L SETS JOINT VENTURE WITH COMINCO | Beryllium International
Corp said it has signed a joint venture agreement with Cominco
American Inc, a unit of Cominco Ltd, to develop a beryllium
mine and processing plant on Beryllium International's property
in the Topaz Mountains southwest of Salt Lake City.
Beryllium said as a 49 pct owner of the venture it wo... |
CANADA REAL 4TH QTR GDP ROSE 1.1 PCT, AFTER 3RD QTR 1.1 PCT RISE - OFFICIAL
| |
CANADA 4TH QTR CURRENT ACCOUNT DEFICIT 2.3 BILLION DLRS VS 3RD QTR 1.9 BILLION DEFICIT - OFFICIAL
| |
UNITED-GUARDIAN <UNIR>, <FEDERAL> SIGN CONTRACT | United-Guardian Inc said it
signed a contract with <Federal Health Corp> covering the
exclusive marketing of Warexin, a disinfectant for kidney
dialysis machines, hospital equipment and instruments.
Under the contract, United-Guardian said Federal will
continue to supply Hospal, a subsidiary of <Sandoz Ltd> and
<Rh... |
MCLEAN INDUSTRIES <MII> UNIT TRANSERS SERVICE | McLean Industries Inc said its
shipping subsidiary, United States Lines Inc, reached an
agreement in principle to transfer its South American service
to American Transport Lines Inc, a subsidiary of <Crowley
Maritime Corp>.
Under the terms of the agreement, United States Lines will
lease five vessels to American Tr... |
PROXMIRE VOWS QUICK ACTION ON U.S. BANKING BILL | Senate Banking Committee Chairman
William Proxmire said modified legislation to help a federal
deposit insurance fund and prohibit new limited-service banks
and thrifts could be ready for a Senate vote in two to three
weeks.
Proxmire said he agreed to demands from committee members
for a one-year moratorium on gran... |
U.S. LARD CONSUMPTION IN JANUARY | U.S. factory usage of lard in the
production of both edible and inedible products during January
totaled 21.3 mln lbs, vs a revised 25.6 mln lbs in December,
according to Census Bureau figures.
In the year-earlier period, usage, which includes
hydrogenated vegetable and animal fats and other oils in
process, amount... |
SOCIETE GENERALE DUTCH UNIT LAUNCHES CD PROGRAMME | The Amsterdam unit of French bank
Societe Generale said it is launching a 50-mln guilder, five
month certificate of deposit programme starting March 6 and
ending September 7.
Denominations will be in one mln guilders. The price is to
be set on March 4, issue date is March 6 and redemption at par
is on September 7.
... |
MONY FUNDING ISSUES 125 MLN DLR EUROBOND | Mony Funding Inc is issuing a 125 mln dlr
eurobond due April 7, 1997 paying 8-1/8 pct and priced at
101-1/2 pct, sole lead manager Citicorp Investment Bank Ltd
said.
The non-callable bond is guaranteed by Mutual Life
Insurance Co of the U.S. And is available in denominations of
5,000 dlrs and will be listed in Luxe... |
SMALL QUANTITY OF UK WHEAT SOLD TO HOME MARKET | A total of 2,435 tonnes of British
intervention feed wheat were sold at today's tender for the
home market out of requests for 3,435 tonnes, the Home Grown
Cereals Authority, HGCA, said.
Price details were not reported.
No bids were submitted for intervention barley.
Reuter
|
CANADA DECEMBER GDP UP 1.2 PCT AFTER NOVEMBER'S 0.2 PCT FALL - OFFICIAL
| |
FIRST FEDERAL SAVINGS <FFKZ> YEAR NET | Shr 78 cts vs one dlr
Net 1,413,000 vs 1,776,000
Assets 705.3 mln vs 597.3 mln
Deposits 495.6 mln vs 493.9 mln
Loans 260.0 mln vs 379.7 mln
Qtly div six cts vs six cts prior qtr
Pay April 1
Record March 6
NOTE: 1986 net includes charges from accounting changes,
from one-time expenses as... |
BOEING <BA> SAYS ORDER WORTH ONE BILLION DLRS | Boeing Co said its order for 15
extended-range 767-300's from AMR Corp <AMR> is worth over one
billion dlrs.
The company said AMR is its first customer for the
767-300ER twinjet, a derivative of its 767-200 designed for
increased passenger and cargo capability on flights of up to
6,600 miles. It said the first deli... |
INLAND <IAD> FILES FOR 1.5 MLN SHARES OFF | Inland Steel Industries Inc said it
registered with the Securities and Exchange Commission for a
proposed public offering of 1.5 mln shares of Series C
cumulative convertible exchangeable preferred shares, 50 dlrs a
share liquidation value.
Goldman Sachs and Co and First Boston Corp are
underwriters. They have an o... |
<ACUSTAR CORP> HAS UNAUTHORIZED ACCOUNT ACTION | Acustar Corp said it has
discovered significant unauthorized activity in its corporate
accounts but has not yet determined the full extent of the
problem.
It said it has requested that all over-the-counter trading
in its stock be halted until it can make a further
announcement. An investigation is underway, it sai... |
TOLL BROTHERS INC <TOL> 1ST QTR JAN 31 NET | Shr 22 cts vs 12 cts
Net 3,243,000 vs 1,656,000
Revs 28.4 mln vs 21.5 mln
NOTE: All amts reflect 3-for-2 stock split of company's
common in form of 50 pct stock dividend paid Feb 26, 1987.
Reuter
|
UNICORP AMERICAN <UAC> IN JOINT VENTURE | Unicorp American Corp said it has
formed a joint venture with Sybedon Corp, a New York real
estate investment banking firm, to pursue real estate projects.
It said a total of 20 mln dlrs is being committed to the
joint venture.
Reuter
|
PILLSBURY CO <PSY> VOTES QUARTERLY DIVIDEND | Qtly div 25 cts vs 25 cts prior qtr
Pay 31 May
Record 1 May
Reuter
|
BERKSHIRE GAS CO <BGAS> PAYS REGULAR QTLRY DIV | Qtrly div 28.5 cts vs 28.5 cts
Pay April 15
Record March 31
Reuter
|
U.K. WHEAT AND BARLEY EXPORTS ADJUSTED UPWARDS | The U.K. Exported 535,460 tonnes of wheat
and 336,750 tonnes of barley in January, the Home Grown Cereals
Authority (HGCA) said, quoting adjusted Customs and Excise
figures.
Based on the previous January figures issued on February 9,
wheat exports increased by nearly 64,000 tonnes and barley by
about 7,000 tonnes.
... |
CANADA GDP RISES 3.1 PCT IN 1986 | Canada's real gross domestic product,
seasonally adjusted, rose 1.1 pct in the fourth quarter of
1986, the same as the growth as in the previous quarter,
Statistics Canada said.
That left growth for the full year at 3.1 pct, which is
down from 1985's four pct increase.
The rise was also slightly below the 3.3 p... |
EAST EUROPE WHEAT WINTERKILL POSSIBLE, ACCU SAYS | Winter wheat crops in the
western Soviet Union, Poland and eastern Czechoslovakia through
northern Romania may suffer some winterkill over the next two
nights, private forecaster Accu-Weather Inc said.
Western USSR winter wheat areas have had only light and
spotty snow and winterkill is possible tonight and tomorro... |
CHARMING SHOPPES INC <CHRS> 4TH QTR JAN 31 NET | Shr 28 cts vs 22 cts
Net 14 mln vs 10.6 mln
Revs 163.8 mln vs 127.3 mln
Year
Shr 81 cts vs 59 cts
Net 40.5 mln vs 28.7 mln
Revs 521.2 mln vs 391.6 mln
Reuter
|
PANSOPHIC SYSTEMS <PNS> SPLITS STOCK 2-FOR-1 | Pansophic Systems Inc said it
will split its stock two-for-one effective April two to
shareholders of record March 13.
It also said it will pay a six cts per share dividend on
the pre-split shares, a regular quarterly dividend, on April
two to shareholders of record March 13.
Reuter
|
LAC <LAC> INTERSECTS MORE GOLD AT DOYON MINE | Lac Minerals Ltd and <Cambior Inc> said
they completed a second hole at their jointly owned Doyon mine
in Quebec, which showed two significant gold intersections.
One intersection graded 0.33 ounce gold a short ton over 44
feet at depth of 1,411 feet, while the other graded 0.22 ounce
gold a ton over 23 feet at 2,0... |
AMR <AMR> DISCOUNTS TALK ON PAN AM <PN> DEAL | AMR Corp chairman Robert Crandall,
denying industry speculation, said the company is not
interested in acquiring shuttle routes in the northeast region
of the U.S. from Pan Am Corp.
But in remarks at a press conference announcing a major
aircraft order, he said AMR would be interested in certain
other Pan Am assets... |
CALMAR <CLMI> SEEKS TO BE ACQUIRED BY <KEBO AB> | Calmar Inc said KEBOO Ab of
Sweden, which now owns about 64 pct of Calmark, has approved
the acquisition of remaining Calmar shares at 25.375 dlrs in
cash at the request of the Calmar board.
Calmar said a special meeting of its board will be held
March Nine to form a special committee of directors not
affiliated wi... |
<FRUIT OF THE LOOM INC> INITIAL OFFERING STARTS | Fruit of the Loom Inc said an initial
public offering of 27 mln Class A common shares is underway at
nine dlrs per share through underwriters led by <Drexel Burnham
Lambert Inc>, Merrill Lynch and Co Inc <MER>, E.F. Hutton Group
Inc <EFH> and Sears, Roebuck and Co Inc's <S> Dean Witter
Reynolds Inc unit.
Reuter
|
ITALY'S BNL NEGOTIATING PURCHASE OF GERMAN BANK | Italy's state-owned <Banca Nazionale Del
Lavoro-BNL> said it is negotiating to buy a West German bank as
part of its foreign expansion policy.
BNL president Nerio Nesi told a news conference the Italian
bank was currently involved in talks but declined to name the
German institution.
He said the takeover move c... |
THREE KILLED IN SOUTH AFRICA ZINC REFINERY CLASH | Three black workers were killed and
seven injured in fighting at a South African zinc refinery last
night, Gold Fields of South Africa Ltd said.
The company said two groups of workers began attacking each
other at about 1000 local time with machetes, knives and sticks
at a hostel at the Zincor plant, some 40 kms ea... |
FED EXPECTED TO ADD TEMPORARY RESERVES | The Federal Reserve is expected to
enter the U.S. Government securities market to add temporary
reserves, economists said.
They expect it to supply the reserves indirectly by
arranging 1.5 to two billion dlrs of customer repurchase
agreements. The Fed may add the reserves directly instead via
System repurchases.
... |
EC INDUSTRY OUTPUT GROWTH SLOWS IN 1986 | European Community industrial output
increased by an average of around two pct last year, compared
with 3.3 pct growth recorded in 1985 against a year earlier,
the EC statistics office Eurostat said.
Growth was highest in Portugal at five pct, while in Greece
output contracted by 0.3 pct, Eurostat said in a stateme... |
LSB INDUSTRIES INC <LSB> 4TH QTR NET | Shr profit five cts vs loss 2.11 dlrs
Net profit 375,061 vs loss 10.4 mln
Revs 39.9 mln vs 37.8 mln
Avg shrs 6,536,008 vs 4,939,895
12 mths
Shr profit 47 cts vs loss 3.37 dlrs
Net profit 2,837,288 vs loss 16.6 mln
Revs 169.1 mln vs 149.4 mln
Avg shrs 6,037,640 vs 4,937,378
NOTE: prim... |
GM <GM> HOPES FOR FIVE-FOLD RISE IN EUROPEAN SALES | U.S. Carmaker General Motors hopes to
sell between 7,000 and 8,000 vehicles in Europe this year, a
five-fold rise over the year before, James Fry, vice-president
of GM Overseas Distribution Corporation told a news briefing.
"The low dollar makes our prices very attractive," he said at
a GM preview before the openin... |
MORE GOLD DETECTED AT DOYON MINE | Lac Minerals Ltd and Cambior Inc said
they completed a second hole at their jointly owned Doyon mine
in Quebec, which showed two significant gold intersections.
One intersection graded 0.33 ounce gold per short ton over
44 feet at depth of 1,411 feet, while the other graded 0.22
ounce gold per ton over 23 feet at 2... |
PIZZA INN <PZA> TO MAKE ANNOUNCEMENT | Pizza Inn Inc said it will be making an
announcement sometime this morning.
The company declined to discuss details of the
announcement.
The American Stock Exchange delayed trading Pizza Inn
shares this morning for news pending.
Pizza Inn recently received a buyout proposal from Concept
Development Inc <CDI... |
GULF RESOURCES AND CHEMICAL CORP <GRE> 4TH QTR | Oper shr profit 34 cts vs loss 53 cts
Oper net profit 3,337,000 vs 4,881,000
Revs 32.7 mln vs 49.6 mln
Year
Oper shr profit 20 cts vs loss 90 cts
Oper net profit 2,374,000 vs loss 9,381,000
Revs 126.9 mln vs 160.5 mln
NOTES: Operating net excludes loss 6,050,000 dlrs, or 64
cts a share, vs l... |
COFFEE TALKS COLLAPSE EASES NEED FOR U.S. BILL | The collapse of International Coffee
Organization, ICO, talks on export quotas yesterday removes the
immediate need to reinstate U.S. legislation allowing the
customs service to monitor coffee imports, analysts here said.
The Reagan administration proposed in trade legislation
offered Congress last month that autho... |
SCOTIA MORTGAGE ISSUES 100 MLN CANADIAN DLR BOND | Scotia Mortgage Corp is issuing a 100 mln
Canadian dlr eurobond due April 9, 1992 paying 8-3/4 pct and
priced at 100-3/4 pct, lead manager Wood Gundy Ltd said.
The non-callable bond is available in denominations of
1,000 and 10,000 Canadian dlrs and will be listed in
Luxembourg. It is guaranteed by the Bank of Nova... |
PANSOPHIC SYSTEMS INC <PNS> 3RD QTR JAN 31 NET | Shr 70 cts vs 56 cts
Net 6,197,000 vs 4,880,000
Revs 24.1 mln vs 17.1 mln
Nine mths
Shr 1.38 dlrs vs 1.20 dlrs
Net 12.1 mln vs 10.4 mln
Revs 52.5 mln vs 41.8 mln
Reuter
|
FORMER TREASURY OFFICIAL URGES CURRENCY REFORMS | Former Treasury official C. Fred
Bergsten said a new exchange rate system is needed to replace
the fixed and flexible exchange rate systems which he said had
not worked.
"I prefer a move to 'target zones' in which the major
countries would determine ranges of 15-20 pct within which they
would pledge to hold their e... |
SCOTIA MORTGAGE ISSUES 100 MLN CANADIAN DLR BOND | Scotia Mortgage Corp is issuing a 100 mln
Canadian dlr eurobond due April 9, 1992 paying 8-3/4 pct and
priced at 100-3/4 pct, lead manager Wood Gundy Ltd said.
The non-callable bond is available in denominations of
1,000 and 10,000 Canadian dlrs and will be listed in
Luxembourg. It is guaranteed by the Bank of Nova... |
KNUTSON MORTGAGE CORP <KNMC> SETS QUARTERLY | Qtly div 10 cts vs 10 cts prior
Pay April 13
Record March 13
Reuter
|
FORD MOTOR CO OF CANADA LTD 4TH QTR SHR 8.17 DLRS VS 55 CTS
| |
AUSIMONT COMPO <AUS> TO CHANGE NAME | Ausimont Compo NV said it will
change its name to Ausimont NV on May Six, subject to
shareholder approval.
Reuter
|
SYRIA SAYS ISRAEL BLOCKS CITRUS EXPORT FROM GAZA | Syria has complained to the
United Nations that Israeli occupation authorities were
blocking the export of citrus fruit from the Gaza Strip to the
countries of the European Community, EC.
In a letter to Secretary General Javier Perez de Cuellar,
published here today, Syrian U.N. charge d'affaires Abdul
Mou'men Al-A... |
YUGOSLAVIA WHEAT FREE OF WINTERKILL - USDA | There was no evidence of winterkill
in Yugoslavian winter wheat during field travel along a line
running northwest from Belgrade to near Maribor, the U.S.
Agriculture Department's counselor in Belgrade said in a field
report.
The report, dated February 26, said there is evidence of
delayed germination in most areas... |
ATT <T> SETS SOME PHONE EQUIPMENT DISCOUNTS | American Telephone and
Telegraph Co said small businesses can win up to a 10 pct
discount on telephone equipment under a new program.
According to the America's Choice Bonus Program, customers
that rent certain phone systems can earn credits each time they
pay their monthly or fixed term lease bills.
The credit... |
AUSIMONT COMPO NV <AUS> 4TH QTR NET | Shr 42 cts vs 39 cts
Net 12.3 mln vs 9,382,000
Sales 172.0 mln vs 146.00 mln
Avg shrs 29.5 mln vs 24.3 mln
Year
Shr 1.63 dlrs vs 1.35 dlrs
Net 45.7 mln vs 30.0 mln
Sales 665.5 mln vs 446.2 mln
Avg shrs 28.0 mln vs 22.3 mln
NOTE: translated at 1,339 Italian lire to dollar.
Reuter
|
LYPHOMED <LMED> IN JOINT MARKETING PACT | LyphoMed Inc said it has
tentatively agreed to form a joint venture with privately-held
Novopharm Ltd of Canada whereby each will market the other's
drug in their home country.
LyphoMed will sell Novopharm's oral pharmaceutical drugs in
the U.S. and Novopharm will sell Lyphomed's injectable
pharmaceutical drugs in ... |
REGAL INT'L <RGL> HOLDS BELL PETROLEUM OPTION | Bell Petroleum Services Inc,
currently in Chapter 11, said Regal International Inc has
acquired an option to buy its secured notes held by its banks.
Bell said Regal also expressed interest in discussing an
acquisition offer, but Bell's board rejected the offer, saying
it wanted to remain independent and proceed wi... |
NORTON <NRT> TO SELL SOUTH AFRICAN OPERATIONS | Norton co said it has agreed to
sell its remaining South African business, Norton co Pty Ltd,
to <Global Mining and Industrial Corp> of South africa for
undisclosed terms.
The company said the unit accounts for less than two pct of
Norton revenues and is being sold because "Growing societal
pressures in the United ... |
CANADA CURRENT ACCOUNT DEFICIT UP IN QUARTER | Canada's current account deficit widened
to a seasonally adjusted 2.27 billion dlrs in the fourth
quarter from a deficit of 1.94 billion dlrs in the third,
Statistics Canada said.
The shortfall for the full year rose to 8.81 billion dlrs
from 1985's 584 mln dlr deficit, the federal agency said.
The agency said ... |
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