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MILLER TABAK HAS 91.8 PCT OF PENN TRAFFIC <PNF> | <Miller Tabak Hirsch and Co> said it
has received an accepted 3,424,729 common shares of Penn
Traffic Co in response to its 31.60 dlr per share tender offer
that expired Friday, and together with the 380,728 shares it
already owned, it now has about 91.8 pct of Penn Traffic.
The company said Penn Traffic is expecte... |
COFFEE QUOTA TALKS CONTINUE BUT NO AGREEMENT YET | Coffee quota talks at the International
Coffee Organization council meeting here continued this
afternoon, but producers and consumers still had not reached
common ground on the key issue of how to estimate export
quotas, delegates said.
The 54 member contact group was examining a Colombian
proposal to resume quota... |
FEDERAL INDUSTRIES SETS COMMERCIAL PAPER ISSUE | <Federal Industries Ltd> said
it introduced a commercial paper program with an authorization
of 440 mln dlrs through agents <Bank of Montreal>, <Dominion
Securities Inc> and Wood Gundy Inc.
Net proceeds from the sale of notes will be used for
general corporate purposes and will replace existing
outstanding debt, th... |
WASTE MANAGEMENT <WMX> VOTES SPLIT, UPS PAYOUT | Waste Management Corp said its
board voted a two-for-one stock split payable April 21, record
March 30.
In other action, Waste Management directors approved an
increase in the quarterly dividend to 18 cts from 14 cts,
payable April three, record March 18.
Reuter
|
POREX TECHNOLOGIES <PORX> SETS INITIAL DIVIDEND | Porex Technologies Corp said its
board declared an initial annual dividend of 10 cts per share,
its first payout, payable March 26 to holders of record March
12.
Reuter
|
DAVIS WATER <DWWS> DECLARES STOCK DIVIDEND | Davis Water and Waste
Industries Inc said its board declared a 33-1/3 pct stock
dividend, payable March 23 to holders of record March 12.
Reuter
|
MEDCO CONTAINMENT <MCCS> SETS INITIAL PAYOUT | Medco Containment Services
Inc said its board declared an initial annual dividend of 10
cts per share, its first payout, payable March 19 to holders of
record March 12.
Reuter
|
PITTSTON <PCO> AGREES TO ACQUIRE WTC <WAF> | Pittston Co said it has
tentatively agreed to acquire WTC International N.V. in a
tax-free exchange of stock.
Pittston said it agreed to exchange 0.523 common share for
each of the about 8,612,000 WTC common shares outstanding.
Pittston said WTC's three principal shareholders, who own
62 pct of its stock, are p... |
SDC SYDNEY COST REVIEW MAY ELIMINATE PRODUCTS | <SDC Sydney
Development Corp>, earlier reporting an increased nine month
operating loss, said a cost control review now underway may
result in cost reduction and elimination of unprofitable and
non-strategic products and services.
The company's operating loss for the nine months ended
December 31, 1986 increased to... |
<MULTI-STEP PRODUCTS INC> SIX MTHS DEC 31 LOSS | Shr loss 11 cts
Loss 739,146
Revs 11,754,251
Note: initial public listing December, 1986
Reuter
|
U.K. MONEY MARKET OFFERED BORROWING FACILTIES | The Bank of England said it had offered
borrowing facilities to those discount houses wishing to use
them at 1430 GMT.
The Bank also said it provided the money market 456 mln stg
assistance in the afternoon session bringing its total help so
far today to 493 mln stg. This compares with its forecast of a
shortage in... |
ELECTRONIC MAIL <EMCA> FINANCING ATTEMPT FAILS | Electronic Mail Corp of
America said its efforts to secure additional financing for
expansion have fallen through.
The company said that there are no immediate prospects for
financing through other sources, though efforts will continue.
The company said operations wil continue while further efforts
are made.
Ne... |
NETHERLANDS GRANTS 47 MLN DLRS TO BANGLADESH | Bangladesh will receive a grant equivalent
to 47 mln U.S. Dlrs from the Netherlands during 1987 under an
agreement signed here Saturday, officials said.
This raised the amount of Dutch grants to Bangladesh to 759
mln dlrs since 1972, used mainly for commodity imports and
implementing development projects, they said... |
QUEBEC'S CAISSE DES JARDINS ISSUES YEN EUROBOND | Caisse Centrale Desjardins du Quebec is
issuing a 10 billion yen step-up eurobond maturing on March 25,
1992 and priced at 101-3/4 pct, joint-bookrunner Warburg
Securities said.
The issues pays a coupon of one pct in years one and two
and then pays a coupon of 7-7/8 pct in years three, four and
five. The selling co... |
DOW CHEMICAL LAUNCHES 200 MLN SWISS FRANC BOND | Dow Chemical Co has launched a 200 mln
Swiss franc, 12-year bond with a 4-3/4 pct coupon priced at
100-1/4 pct, lead manager Union Bank of Switzerland said.
The issue carries a call option from 1993 at 102 pct,
declining thereafter by 1/2 percentage point per year.
Subscriptions close March 18 and payment date ... |
SWISS SIGHT DEPOSITS RISE 3.10 BILLION FRANCS | Sight deposits by commercial banks at the
Swiss National Bank rose by 3.10 billion Swiss francs to 10.53
billion in the last 10 days of February, the National Bank
said.
Foreign exchange reserves fell 3.06 billion francs to 30.64
billion.
Sight deposits are an important measure of Swiss money
market liquidity.
... |
CONSOLIDATED TVX SAYS IT WILL ISSUE SHARES TO BUY STAKES IN THREE BRAZIL MINING FIRMS
| |
BRAZIL CRITICISES ADVISORY COMMITTEE STRUCTURE | Brazil is not happy with the existing
structure of the 14-bank advisory committee which coordinates
its commercial bank debt, Finance Minister Dilson Funaro said.
U.S. Banks have 50 pct representation on the committee
while holding only 35 pct of Brazil's debt to banks, he said,
adding "This is not fair with the Eu... |
WHITTAKER CORP <WKR> 1ST QTR JAN 31 NET | Oper shr 17 cts vs 25 cts
Qtly div 15 cts vs 15 cts prior
Oper net 1,522,000 vs 3,501,000
Sales 98.0 mln vs 86.3 mln
NOTE: Prior year net excludes loss from discontinued
operations of 1,817,000 dlrs.
Company said common shares outstanding down significantly
to 7,814,000, reflecting retirement of abo... |
QUEBEC'S CAISSE DES JARDINS ISSUES YEN EUROBOND | Caisse Centrale Desjardins du Quebec is
issuing a 10 billion yen step-up eurobond maturing on March 25,
1992 and priced at 101-3/4 pct, joint-bookrunner Warburg
Securities said.
The issues pays a coupon of one pct in years one and two
and then pays a coupon of 7-7/8 pct in years three, four and
five. The selling co... |
STOP AND SHOP COS INC <SHP> 4TH QTR JAN 31 NET | Oper shr 1.80 dlrs vs 1.46 dlrs
Oper net 25.0 mln vs 20.2 mln
Sales 1.09 billion vs 996.4 mln
Avg shrs 13.9 mln vs 13.8 mln
Year
Oper shr 3.20 dlrs vs 2.57 dlrs
Oper net 44.4 mln vs 35.4 mln
Sales 3.87 billion vs 3.43 billion
Avg shrs 13.9 mln vs 13.8 mln
NOTES: Operating net exclude... |
JIM WALTER CORP <JWC> REGULAR DIVIDEND | Qtly div 35 cts vs 35 cts in prior qtr
Payable April one
Record March 14
Reuter
|
DIAGNOSTIC <DRS> MAKES A BID FOR ROSPATCH <RPCH> | Diagnostic Retrieval Systems Inc
said it has made an offer to acquire, through a wholly owned
unit, all outstanding shares of Rospatch Corp's common stock
for 22 dlrs a share cash, or about 53 mln dlrs.
DRS, a warfare systems producer, said it would make the
transaction through a cash tender offer for all, but not ... |
RECORD N.Z. FUTURES VOLUMES TRADED IN FEBRUARY | The volume of contracts traded on the
New Zealand Futures Exchange (NZFE) reached a record 25,559
contracts in February, the International Commodities Clearing
House (ICCH) said.
The previous high was 22,583 contracts in December 1986.
The ICCH said the value of the contracts traded in February
was 2.90 billion... |
AIR FORCE EXERCISES OPTION FOR AAR <AIR> ORDER | AAR Corp said that the
U.S. Air force exercised an option valued at about eight mln
dlrs with its Brooks and Perkins Cadillac manufacturing
subsidiary in Michigan, for cargo pallet maintenence and
overhaul.
Reuter
|
DOW CHEMICAL LAUNCHES 200 MLN SWISS FRANC BOND | Dow Chemical Co has launched a 200 mln
Swiss franc, 12-year bond with a 4-3/4 pct coupon priced at
100-1/4 pct, lead manager Union Bank of Switzerland said.
The issue carries a call option from 1993 at 102 pct,
declining thereafter by 1/2 percentage point per year.
Subscriptions close March 18 and payment date ... |
TANZANIA SAYS NO NEED FOR NEW ECONOMIC MEASURES | Tanzania's ruling Chama cha
Mapinduzi (CCM) party has endorsed the government's economic
reform programme but said it did not think more changes, such
as a further devaluation of the shilling, would be needed.
Tanzania has devalued the shilling more than 65 pct in less
than a year and has started to overhaul ineffi... |
TAIWAN TO SEEK HIGHER TEXTILE EXPORTS TO U.S. | A Taiwan mission will leave next week for
Washington to renegotiate an agreement severely limiting the
growth of the island's textile exports, a Board of Foreign
Trade official said.
Under the agreement signed last July, Taiwan's textile
export growth was limited to 0.5 pct each year until 1988,
based on the value ... |
U.S. JAN CONSTRUCTION SPENDING ROSE 1.0 PCT AFTER REVISED 0.9 PCT DEC DROP
| |
U.S. NON-FARM PRODUCTIVITY FELL REVISED 2.2 PCT IN 4TH QTR INSTEAD OF 1.7 PCT
| |
U.S. NON-FARM PRODUCTIVITY FELL 2.2 PCT IN QTR | Productivity in the non-farm business
sector fell at a seasonally adjusted, revised annual rate of
2.2 pct in the fourth quarter last year, the Labor department
said.
Previously, the department said productivity fell 1.7 pct
in the fourth quarter.
The decline followed a 0.3 pct drop in the third quarter.
Fo... |
FRENCH 13-WEEK T-BILL AVERAGE RATE FALLS TO 7.69 PCT FROM 7.82 PCT
| |
U.S. CONSTRUCTION SPENDING ROSE 1.0 PCT IN JAN | U.S. construction spending rose 3.6
billion dlrs, or 1.0 pct, in January to a seasonally adjusted
rate of 378.5 billion dlrs, the Commerce Department said.
Spending in December fell a revised 3.5 billion dlrs, or
0.9 pct, to 374.9 billion dlrs, the department said.
Previously, it said spending fell 0.5 pct in D... |
WHITTAKER <WKR> TO HAVE GAINS FROM SALES | Whittaker Corp said it will have a
gain on the sale of discontinued businesses after any operating
losses from the businesses up until the dates of disposition,
but it will defer reporting the gain until its restructuring
program hsa been substantially completed.
The company said in the first quarter ended January ... |
THE JAPAN FUND <JPN> GETS BUYOUT OFFER | The Japan Fund Inc said it has received
an unsolicited offer from <Sterling Grace Capital Management
LP>, acting together with certain other persons and entities,
to purchase all the assets of the fund at five pct below its
aggregate net asset value.
The Japan Find said tne deal is subject to obtaining
satisfactory... |
STANSBURY MINING <STBY> GETS FUNDING FOR MINE | Stansbury Mining Corp said it has
arranged the financing it needs to bring its vermiculite mine
into operation later this year.
The company said New York investment banking firm Matthews
and Wright has arranged 7,300,000 dlrs in tax-free industrial
revenue bonds and 4,700,000 dlrs in conventional bonds.
It said... |
<SAMSUNG CO> CALENDAR 1986 | Div 50 won vs 50 won
Net profit 6.91 billion won vs 6.10 billion
Sales 4,275.4 billion vs 3,801,7 billion
Note - Company has set 1987 sales target of 4,800 billion
won.
Reuter
|
<DAEWOO CORP> CALENDAR 1986 | Div 50 won vs 50 won
Net profit 35.4 billion won vs 34.2 billion
Sales 4,214.9 billion won vs 3,779.2 bilion
Note - company has set 1987 sales target of 5,200 billion.
REUTER
|
CORNING TO OFFER 0.5165 SHARE FOR EACH HAZLETON SHARE UNDER EARLIER AGREEMENT
| |
BANK OF NEW YORK <BK> TO HAVE GAIN ON UNIT SALE | Bank of New York Co said it and the
management of RMJ Securities Corp have agreed to sell 80 pct of
their interests in RMJ Holding Corp to <British and
Commonwealth Holdings PLC> and Bank of New York expects to
realize a substantial gain on the transaction.
RMJ Holding is the holding company for RMJ Securities, a
l... |
CORNING <GLW>, HAZLETON <HLC> SET EXCAHNGE RATIO | Corning Glass Works said the
exchange ratio for its previously announced acquisition of
Hazleton Laboratories Corp has been established at 0.5165
Corning common share for each Hazleton common share.
Corning said the prospectus regarding the merger is
expected to be mailed tomorrow to all Hazleton holders of
record ... |
HEALTH EXPERTS URGE ERADICATION OF RINDERPEST | World animal health experts called for a
campaign to eradicate the lethal cattle disease Rinderpest in
Bangladesh, Bhutan, India, Nepal and Pakistan, a statement from
a Food and Agriculture Organization (FAO) meeting here said.
Some 230 mln dlrs is needed over two years to vaccinate the
entire susceptible cattle po... |
TURKISH RETAIL PRICES RISE 2.7 PCT IN FEBRUARY | Turkish retail prices rose 2.7 pct in
February after 2.9 pct in January and 1.7 pct in February 1986,
the State Statistics Institute said.
Prices in the year to February rose 31.6 pct, compared with
30.3 pct in the year to January and 38.8 pct in the 12 months
to February 1986.
The index (base 1978/79), coverin... |
bank of england announces creation of further one billion stg of nine pct 2002 exchequer stock
| |
XEROX CORP <XRX> ADDS CAPACITY TO SYSTEM | Xerox Corp said it has added a
system that can handle more than 3,000 calls per hour and store
up to 526 hours of messages to its Voice Message Exchange
product line.
Available with 12 to 64 ports, the new System V is designed
to serve 800 to 10,000 users, the company said. It is
compatible with the company's entir... |
BALLY <BLY> COMPLETES PURCHASE OF GOLDEN NUGGET | Bally Manufacturing Corp said it
completed the acquisition of the Golden Nugget Casino Hotel in
Atlantic City, New Jersey from Golden Nugget Inc.
Bally also acquired from Golden Nugget various parcels of
real estate in Atlantic City, it noted.
The transaction included 140 mln dlrs in cash and stock and
the assu... |
CONSOLIDATED TVX TO BUY BRAZIL GOLD MINE STAKES | <Consolidated TVX Mining Corp> said it
agreed to issue 7.8 mln treasury shares to acquire interests in
three gold mining companies in Brazil and an option to increase
the company's interest in a platinum property.
The company said the transactions will bring immediate
production and earnings to Consolidated TVX, en... |
WARWICK INSURANCE MANAGERS INC <WIMI> 4TH QTR | Oper shr 17 cts vs 19 cts
Oper net 636,000 vs 358,000
Revs 10.6 mln vs 7,024,000
Avg shrs 3,808,000 vs 1,924,000
Year
Oper shr 73 cts vs 65 cts
Oper net 2,467,000 vs 1,199,000
Revs 31.5 mln vs 22.9 mln
Avg shrs 3,372,000 vs 1,785,000
NOTE: Net excludes investment gains 20,000 dlrs vs... |
CANADA INDUSTRIAL PRICES UP 0.2 PCT IN MONTH | Canada's industrial product price index
rose 0.2 pct in January after falling 0.2 pct in each of the
two previous months, Statistics Canada said.
The rise was led by price gains for papers, pharmaceuticals
and petroleum and coal products. Price declines were recorded
for meat products, lumber and motor vehicles.
... |
OLIVER'S STORES <OLVR> FILES CHAPTER 11 | Oliver's Stores Inc said it has
decided to reorganize under Chapter 11 of the federal
bankruptcy laws and will file a petition by the end of this
week.
The company said it has failed to reach agreement with
primary lenders Manufacturers Hanover Corp <MHC> and Midlantic
Corp <MIDL> on a debt restructuring.
It sa... |
HOWE OWNERS FEDERAL <HFSL> HOLDERS OK MORE STOCK | Howen Owners Federal Savings and Loan
Association said its stockholders have approved an amendment to
its charter increasing the number of authorized common to 32
mln shares from eight mln and the number of authorized
preferred shares to eight mln from two mln.
Reuter
|
COMMERZBANK UNIT ISSUES STERLING EUROBOND | Commerzbank Overseas Finance NV is
issuing a 50 mln stg eurobond due March 31, 1992 paying 9-5/8
pct and priced at 101-1/4 pct, joint-lead manager Samuel
Montagu and Co Ltd said. Commerzbank AG is the other
joint-lead.
The non-callable bond is available in denominations of
1,000 and 10,000 stg and will be listed in... |
NUCLEAR DATA <NDI> GETS EXTENSIONS ON LOANS | Nuclear Data Inc said its bank lenders
agreed to extend its secured loan agreement through June 30,
1987.
The agreement, which covers about 9.5 mln dlrs in short
term debt, had been scheduled to expire February 28.
Terms of the extension require Nuclear Data to obtain
replacement financing from outside sources ... |
GELCO CORP 2ND QTR SHR 67 CTS VS 23 CTS
| |
STROBER ORGANIZATION INC <STRB> 4TH QTR NET | Shr 22 cts vs 17 cts
Net 1,232,000 vs 834,000
Sales 24.1 mln vs 20.9 mln
Avg shrs 5,609,000 vs five mln
Year
Shr 97 cts vs 69 cts
Net 4,985,000 vs 3,426,000
Sales 92.4 mln vs 77.9 mln
Avg shrs 5,153,000 vs five mln
Reuter
|
JUDGE RULES IN FAVOR OF DOW CHEM <DOW> UNIT | Dow Chemical Co said a judge on
the New Jersey Superior Court for Monmouth County granted its
Merrell Dow Pharmaceuticals Inc unit a motion for a directed
verdict in its favor in a case alleging its morning sickness
drug, Bendectin, caused a child's birth defects.
Merrell Dow said after plaintiffs had completed the... |
U.K. SAYS HAS NO ROLE IN BRAZIL MORATORIUM TALKS | U.K. Chancellor of the Exchequer Nigel
Lawson has told Brazil's Finance Minister Dilson Funaro that
negotiations on Brazil's debt to commercial banks are a matter
for the commercial banks themselves, a Treasury spokesman said.
The spokesman said the Chancellor had emphasised in talks
this morning with Funaro the ne... |
SHELL CANADA CUTS CRUDE OIL PRICES BY UP TO 1.27 CANADIAN DLRS/BBL EFFECTIVE MARCH ONE
| |
BANK OF ENGLAND ANNOUNCES ONE BILLION STG TAP | The Bank of Enlgand said it was creating
and taking onto its own books a one stg tranche of the nine pct
Exchequer stock due 2002.
The issue is part paid with 20 stg pct payable on issue and
the 76 stg pct balance due on April 27. First dealings will
take place this Wednesday, March 4.
The initial reaction amon... |
BRENCO INC <BREN> DECLARES QTLY DIVIDEND | Qtly div three cts vs three cts prior
Pay April six
Record March 20
Reuter
|
BLACK SOUTH AFRICAN MINERS SEEK WAGE RISE | The National Union of Mineworkers,
NUM, said it will demand a 55 pct annual wage increase in
upcoming negotiations with South Africa's mining companies.
The union, representing some 360,000 black workers at about
118 mines, last year sought a 45 pct boost in salaries and
settled for 23.5 pct.
NUM General Secret... |
PRIME COMPUTER <PRM> UNVEILS PC SOFTWARE | Prime Computer Inc said it has
introduced the Prime Medusa/pc software, a two dimensional
version of its Prime Medusa computer-aided-design software.
Prime said Prime Medusa/pc is for use on an International
Business Machines Corp <IBM> PC/AT operating within a Prime 50
Series minicomputer environment.
The comp... |
MASSACHUSETTS INVESTORS GROWTH STOCK FUND PAYOUT | Qtly div from income 5.1 cts vs 3.035 dlrs in prior qtr
including capital gains of 2.978 dlrs
Payable March 27
Record February 27
Reuter
|
FEDERAL INDUSTRIES PAPER ISSUE JUST IN CANADA | Federal Industries Ltd's
earlier announced commercial paper issue of up to 440 mln dlrs,
will be made only in Canada, a company spokesman said.
The issue currently underway is expected to be completed
within the next few weeks.
The final amount of the issue depends on market conditions,
but will likely be close... |
<PREMDOR INC> 4TH QTR NET | Shr 35 cts vs 25 cts
Net 1,590,000 vs 1,140,000
Revs 32.2 mln vs 23.0 mln
YEAR
Shr 1.16 dlrs vs 68 cts
Net 5,300,000 vs 3,100,000
Revs 110.0 mln vs 85.4 mln
Reuter
|
AMERICAN NURSERY <ANSY> BUYS FLORIDA NURSERY | American Nursery Products Inc
said it purchased Miami-based Heinl's Nursery Inc, for
undisclosed terms.
Heinl's Nursery has sales of about 4.5 mln dlrs and owns
100 acres, of which 75 are in shade houses and about 58,300
square feet cover greenhouses, shipping and office facilities.
Reuter
|
JUTLAND TELEPHONE SETS 75 MLN SWISS FRANC BOND | Jutland Telephone Co plans to issue a 75
mln Swiss franc, 4-3/4 pct bond with a par price and a maximum
10-year maturity, lead manager Union Bank of Switzerland said.
The bond may be retired between 1991 and 1996 if the
secondary price does not exceed par.
It may be called starting in 1992 at 101, with declinin... |
REGENCY CRUISES INC <SHIP> ELECTS NEW CHAIRMAN | Regency Cruises Inc said its board
elected William Schanz as its chairman and chief executive
officer. He replaces Anastasios Kyriakides, who resigned in
December.
Schantz has served as president, treasurer, and a director
since its inception in 1984.
The company also elected three directors. They are Paul
Herm... |
MFS MANAGED SECTORS TRUST DIVIDEND INCREASED | Semi-annual div from income of 7.3 cts vs 1.0 cent in prior
period
Payable March 27
Record February 27
Reuter
|
UNOCAL <UCL> PLANS LUBE CENTERS AT TRUCKSTOPS | Unocal Corp said it plans to introduce
truck lube centers at most of the 148 Unocal 76 Auto/TruckStops
along the nation's interstate highways.
The company said the centers will be the first national
program to offer over-the-road trucks a convenient and complete
lube-and-oil-change service. The centers will offer a... |
<GENZYME>, PFIZER <PFE> UNIT IN JOINT VENTURE | Genzyme Corp said it and Howmedica, a
Rutherford, N.J.-based company owned by Pfizer Inc, have agreed
to an initial joint research and development program.
The company said the venture will focus on using Genzyme's
proprietary technologies to procued hyaluronic acid-based
products for use in orthopedic surgery.
... |
MULTI-STEP TO SELL LADDER UNIT, CANCEL SHARES | <Multi-Step Products Inc>, earlier
reporting an initial six month loss, said it agreed to sell
wholly owned Multi-Step Manufacturing Inc for 100,000 dlrs
cash, subject to shareholder and regulatory approval.
Multi-Step also said it will pay 900,000 dlrs to cancel
711,192 of its own shares, which will be acquired fr... |
ESSELTE BUSINESS <ESB> UNIT BUYS ANTONSON UNIT | Esselte Business Systems Inc's
Esselte Meto division said it has acquired the Antonson America
Co, a subsidiary of <Antonson Machines AB>, of Sweden.
Esselte said the Antonson unit, based in LaPorte, Indiana,
manufactures scales and label printers. The company said the
purchase is part of a plan to increase the ran... |
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 a fairly large round, two billion dlrs or more, of
customer repurchase agreements. The Fed may add the reserves
directly instead vi... |
REUTER DEALING SERVICE INTRODUCED IN CHINA | Reuters Holdings Plc <RTRS.L> said it had
its first subscriber installation in China of its foreign
exchange dealing service.
The subscriber is the banking department of the China
International Trust and Investment Corp's (CITIC) head office
in Beijing.
The service is also due to be connected soon at the Bank o... |
CAMBRIDGE MEDICAL <CMTC> IN DEAL ON AIDS TEST | Cambridge Medical Technology
corp said it has signed a letter of intent with Panbaxy
Laboratories to jointly make a new AIDS test.
The company said it will have the exclusive right to market
the product worldwide. The new test will be used to detect
specific viral antigens in serum and whole blood samples.
It ... |
FOUR SEASONS BUYING MARRIOTT <MHS> HOTEL | <Four Seasons Hotels Inc> and VMS Realty
Partners said they agreed to acquire the Santa Barbara Biltmore
Hotel in California from Marriott Corp, for undisclosed terms.
Closing was expected by March 31, they added.
The companies said they would jointly own the hotel and
rename it the Four Seasons Biltmore at San... |
QUAKER OATS <OAT> FILES SHELF REGISTRATION | Quaker Oats Co said it filed a shelf
registration with the Securities and Exchange Commission
covering up to 250 mln dlrs in debt securities.
The company said it may offer the securites in one or more
issues, from time to time, over the next two years.
Proceeds will be used to repay short term debt issued in
co... |
STONE <STO> SPLITS STOCK, RAISES PAYOUT | Stone Container Corp said it is
splitting its common stock 2-for-1 and increasing its dividend
33-1/3 pct.
The dividend of 20 cts a share, an increase of five cts
over the prior 15 cts a share on pre-split shares, is payable
June 12 to holders of record May 22.
The stock split also is payable June 12 to holders... |
TEMPLE INLAND/INT'L PAPER UP ON RAISED OPINION | Shares of Temple Inland Inc <TIN> and
International Paper Co <IP> rose sharply this morning following
a recommendation by Prudential Bache Securities, traders said.
Temple Inland jumped 2-7/8 to 73 and International Paper
1-1/4 to 91-1/4.
Prudential Bache analyst Mark Rogers was not available for
comment. Trad... |
PRESIDENTIAL AIR <PAIR> TO START NEW SERVICE | Presidential Airways Inc said it will
serve 12 cities when it starts operating Continental Express
under a joint marketing agreement with Texas Air Corp's <TEX>
Continental Airlines on March 23.
From its base at Dulles Airport in Washington, Presidential
will serve Albany, N.Y., Birmingham and Huntsville in Alabama... |
S-K-I LTD <SKII> 2ND QTR JAN 25 NET | Shr 81 cts vs 57 cts
Net 3,660,273 vs 2,437,914
Rev 28.5 mln vs 23.1 mln
Six months
Shr 29 cts vs 12 cts
Net 1,325,755 vs 483,559
Rev 31.7 mln vs 26.4 mln
Reuter
|
KAPOK CORP <KPK> YEAR SEPT 30 LOSS | Shr loss 20 cts vs profit 96 cts
Net loss 499,000 vs profit 2,369,000
Revs 11.5 mln vs 10.3 mln
NOTE: Prior year net includes gain on sale of property of
4,557,000 dlrs.
Reuter
|
COUPON REDUCED ON BEST DENKI WARRANT BOND | The coupon on the 70 mln dlr equity
warrant eurobond for Best Denki Co Ltd has been set at three
pct compared with the indicated 3-1/8 pct, lead manager Nikko
Securities Co (Europe) Ltd said.
The exercise price was set 1,640 yen per share,
representing a premium of 2-1/2 pct over today's closing price
of 1,600 yen.... |
CARGILL U.K. STRIKE TALKS POSTPONED | Talks due today between management and
unions to try to end the strike at Cargill U.K. Ltd's Seaforth
oilseed crushing plant have been rescheduled for Thursday, a
company spokesman said.
Oilseed processing at the plant has been halted since
December 19 when mill workers walked out in protest at new
contract manning... |
LOTUS <LOTS> INTRODUCES NEW SOFTWARE | Lotus Development Corp said it
has unveiled a new software product, named Galaxy, to
complement the newly introduced Apple Computer Inc <AAPL>
Macintosh II and Macintosh SE.
Lotus said Galaxy will be formally introduced over the
summer.
Lotus said Galaxy will include Command language and
dynamically linked modu... |
AMAX <AMX> IN GOLD, SILVER FIND | AMAX Incx said it has identified
additional gold and silver ore reserves at its AMAX Sleeper
Mine near Winnemucca, Nev..
It said as a result of recent drilling, reserves at thhe
mine are now estimated at 2,470,000 short tons of ore grading
0.24 ounce of gold and 0.50 ounce of silver per ton that is
treatable by con... |
STUDY GROUP URGES INCREASED U.S. OIL RESERVES | A study group said the United States
should increase its strategic petroleum reserve to one mln
barrels as one way to deal with the present and future impact
of low oil prices on the domestic oil industry.
U.S. policy now is to raise the strategic reserve to 750
mln barrels, from its present 500 mln, to help protec... |
K-TRON INTERNATIONAL INC <KTII> 4TH QTR NET | Oper shr profit 36 cts vs loss 1.48 dlrs
Oper net profit 1,353,000 vs loss 5,551,000
Revs 11.3 mln vs 8,142,000
Year
Oper shr profit 31 cts vs loss 1.58 dlrs
Oper net profit 1,165,000 vs loss 5,919,000
Revs 38.0 mln vs 31.6 mln
NOTE: Net includes pretax unusual gain 64,000 dlrs vs loss
4,744... |
FORD <F> INCREASES 2ND QTR OUTPUT PLANS -REPORT | Ford Motor Co has increased its U.S.
production schedule for the second quarter by 52,000 cars and
32,000 trucks from previous plans, the trade paper Ward's
Automotive Reports said.
The paper, which tracks industry production, said Ford
plans to build 485,000 cars in the April-June period, compared
with 497,000 a y... |
FNMA <FNM> ARRANGES MORTGAGE SECURITIES SWAP | The Federal National Mortgage
Association said it arranged a swap of 250-350 mln dlrs in
stripped mortgage-backed securities with Shearson Lehman
Brothers Inc.
The exact amount of the swap will be determined later, it
said. Fannie Mae said the swap includes 15-year mortgages for
Fannie Mae stripped mortgage-back se... |
MCI <MCIC> GETS PENNEY <JCP> CONTRACT | MCI Communications Corp said it
has received a contract to provide telecommunications services
to J.C. Penney Co Inc to accomodate much of Penney's nationwide
vboice and information transfer requirements, via a privatge
satellite network.
It said video teleconferencing will be provided at five
locations, data will ... |
PRESIDENTIAL REALTY CORP <PDO> ANNUAL NET | Shr 1.65 dlrs vs 1.50 dlrs
Net 5,370,000 vs 4,901,000
Rev 8.4 mln vs 7.8 mln
NOTE: 1986 net gain from property investments 717,000 dlrs,
or 22 cts per share, vs 721,000 dlrs, or 22 cts per share.
Reuter
|
FORD INCREASES 2ND QTR OUTPUT PLANS, REPORT SAYS | Ford Motor Co has increased its U.S.
production schedule for the second quarter by 52,000 cars and
32,000 trucks from previous plans, the trade paper Ward's
Automotive Reports said.
The paper, which tracks industry production, said Ford
plans to build 485,000 cars in the April-June period, compared
with 497,000 a y... |
REDSTONE DETAILS SWEETENED VIACOM <VIA> OFFER | Investor Sumner Redstone, who leads
one of the two groups vying for control of Viacom International
Inc, offered to sweeten his bid for the company by 1.50 dlrs a
share cash and 1.50 dlrs in securities.
In a filing with the Securities and Exchange Commission,
Redstone, who controls Dedham, Mass.,-based National Amu... |
MONTEDISON CONCLUDES TALKS WITH ANTIBIOTICOS | Montedison Spa <MONI.MI> said it has
concluded its negotiations with Spanish pharmaceuticals company
<Antibioticos SA>.
A company spokesman told Reuters "We have concluded the
talks and we are now awaiting authorization from Spanish
authorities." He declined to comment further.
Earlier today the Italian company... |
UTILICORP <UCU> COMPLETES ACQUISITION | UtiliCorp United Inc said it
completed the acquisition of West Virginia Power from Dominion
Resources for about 21 mln dlrs.
The sale was approved by the West Virginia Public Service
Commission in January and became effective March one. West
Virginia's management will continue to be responsible for
operating the ut... |
ARMCO <AS> CHANGES EUROPEAN MARKETING UNIT | Armco Inc said its former European
Steel Mill Merchandising department has become a unit of the
parent's specialty steels division based in Butler.
The unit, newly named Specialty Steels-Europe is based in
Cologne, West Germany. It will market and sell in Europe the
division's U.S.-made products and specialty produ... |
FAA FINES DELTA <DAL> 140,400 DLRS ON SAFETY | The Federal Aviation Administration
fined Delta Air Lines Inc 140,400 dlrs for alleged violations
of federal air safety rules, FAA officials said.
The FAA had reviewed Delta safety and maintenance
operations early last year as part of a series of special
inspections of U.S. air carriers.
The Delta fine is the s... |
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