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in addition <unk> said it will write off about $ N million in costs related to international exploration leases where exploration efforts have been unsuccessful |
the company also cited interest costs and amortization of goodwill as factors in the loss |
a year earlier net income was $ N million or six cents a share on revenue of $ N million |
a lack of enthusiasm with the latest economic data hampered the stock market 's bid to extend tuesday 's sharp gains as prices closed slightly higher in sluggish trading |
while renewed optimism about the outlook for takeover activity boosted several so-called deal stocks traders said profit-taking weighed on the market with <unk> bearing the brunt of the selling |
the dow jones industrial average which had jumped N points on tuesday drifted on either side of its previous close and finished with a gain of just N at N |
standard & poor 's 500-stock index added N to N the rise was equivalent to a gain of about six points in the industrial average |
the dow jones equity market index gained N to N and the new york stock exchange composite index went up N to N |
advancing stocks led decliners on the new york stock exchange by N to N |
big board volume amounted to N shares down from N million tuesday |
the october survey of corporate purchasing managers as expected provided evidence that economic growth remains subdued |
an index of economic activity drawn from the survey stood last month at N N a reading above N N would have indicated that the manufacturing sector was improving |
but with the index proving somewhat better than expected and the widely anticipated report on october employment scheduled to arrive tomorrow stock prices firmed only modestly in response to the report and then faltered |
this market 's still going through its <unk> said philip <unk> head of equity trading at prudential-bache securities |
the psychology is still we want stocks up but if they do n't carry we 're going to sell them |
uncertainty about the prospects for further action to curtail stock-index arbitrage a form of program trading blamed for recent volatility in the market also contributed to its lack of direction mr. <unk> said |
<unk> trading during the session was confined largely to a round of buy programs near the close which helped offset the impact of profit-taking among blue chips |
trading is expected to remain subdued as the market <unk> tomorrow 's release of the jobs data with the hope that it will point toward a decline in interest rates |
i sense that some people are reluctant to stick their <unk> out in any aggressive way until after the figures come out said richard <unk> president of <unk> associates fair haven |
campbell soup jumped N N to N N as the resignation of r. gordon mcgovern as president and chief executive officer sparked a revival of rumors that the company could become a takeover target |
prudential-bache securities boosted the stock 's short-term investment rating in response to the departure analyst john <unk> said he believes the company will turn to new management that 's more financially <unk> |
other rumored takeover and restructuring candidates to attract buyers included woolworth which went up N N to N N avon products up N N to N N paramount communications up N to N N and <unk> up N N to N N |
upjohn a rumored target within the drug industry advanced N to N N |
the company said it plans a fourth-quarter charge which it did n't specify for an <unk> program |
amr climbed N N to N N amid rumors that new york developer donald trump was seeking financing to mount a new lower offer for the parent company of american airlines |
mr. trump withdrew a $ <unk> bid last month |
ual rose N N to N |
drexel burnham lambert analyst michael <unk> said he sees a N N chance that the parent of united airlines the target of a failed $ 300-a-share offer from a labor-management group will be acquired or restructured within six months |
georgia gulf added N N to N N after nl industries controlled by dallas investor harold simmons offered to acquire the stock it does n't already own for $ N a share |
nl which closed unchanged at N N has a stake of just under N N |
great northern nekoosa which surged N N tuesday after georgia-pacific launched a $ N billion offer for the company dropped N N to N N in big board composite trading of N million shares |
georgia-pacific which went down N N tuesday lost another N to N N |
other paper and forest-products stocks closed mixed |
mead rose N to N N federal paper board added N to N N and scott paper gained N to N N while international paper fell N to N N champion international lost N to N N and <unk> dropped N to N N |
texaco rose N to N N as N million shares changed hands |
most of the volume came from trades designed to capture the stock 's next dividend texaco has a yield of N N and goes ex-dividend today |
santa fe pacific dropped N N to N N |
the company 's proposal to sell a N N stake in its real-estate unit for around $ N million has caused analysts to consider whether to cut their estimates of santa fe 's asset value |
<unk> tumbled N to N |
the company forecast that fourth-quarter income from continuing operations would be significantly lower than a year earlier |
<unk> went up N to N N |
the food and drug administration allowed the company to begin marketing a new lens for use in <unk> patients |
the american stock exchange market value index gained N to N |
volume totaled N shares |
old <unk> warehouse rose N to N N |
its net income for the september quarter rose about N N from a year ago |
freeport-mcmoran inc. said it will convert its freeport-mcmoran energy partners ltd. partnership into a publicly traded company through the exchange of units of the partnership for common shares |
the company said the restructuring is n't expected to have any impact adverse or otherwise on its financial results |
freeport-mcmoran a new <unk> diversified energy conglomerate said the partnership will exchange its assets for common shares of a <unk> entity |
freeport-mcmoran energy partners will be liquidated and shares of the new company distributed to the partnership 's <unk> |
<unk> will receive two additional N <unk> distribution payments before the trust is liquidated in early N the company said |
it is expected that common shares equal to the number of units outstanding about N million on sept. N will be issued during the first quarter of N |
freeport-mcmoran the parent company holds roughly N N of the units outstanding |
nissan motor co. japan 's second-largest car maker announced wednesday that the parent concern 's pretax earnings in the first half ended last sept. N rose N N to N billion yen $ N million from N billion yen a year earlier |
nissan cited strong domestic sales against the backdrop of <unk> economic expansion |
profit surged N N to N billion yen or N yen a share from N billion yen or N yen a share |
sales totaled N trillion yen climbing N N from N trillion yen in the year-earlier period |
nissan scheduled a <unk> interim dividend payment unchanged |
<unk> <unk> executive vice president and chief financial officer of nissan said the company has experienced a remarkable turnaround in terms of profitability since the fiscal year ending march N when the sharp and rapid appreciation of the yen caused many difficulties |
it can be said that the trend of financial improvement has been firmly set he added |
heritage media corp. new york said it offered to buy the shares of pop radio corp. it does n't already own in a stock swap |
heritage which owns N N of pop 's N million shares outstanding said it will exchange one share of a new preferred stock for each pop common share it does n't already own |
depending upon how many warrants and options are exercised prior to completion of the transaction heritage would issue between N million and N million preferred shares a heritage spokesman estimated |
in national over-the-counter trading yesterday pop plunged $ N to $ N |
the preferred stock which would have a dividend rate of $ N a year would be convertible into heritage common at a rate of four common shares for each preferred |
new york-based pop radio provides through a national <unk> network a <unk> music information and advertising service which <unk> live radio |
heritage owns and operates television and radio stations and <unk> advertising and promotion programs |
<unk> inc. hurt by a plant accident and other unexpected costs said it expects to report that fiscal fourth-quarter profit from continuing operations will be significantly below last year 's $ N million |
the <unk> <unk> company also said that full-year profit from continuing operations will be far below last year 's $ N million |
last year 's figures include a one-time loss of $ N million for restructuring and unusual items |
but the automotive parts and aerospace concern expects that net for the year ending nov. N will exceed last fiscal year 's net of $ N million or $ N a share primarily because of $ N million in gains from sales of discontinued operations |
harry <unk> an analyst at mcdonald & co. in cleveland said <unk> 's unanticipated losses come largely from an accident at a government-owned assembly plant in kansas run by a private <unk> that makes <unk> <unk> for <unk> 's <unk> <unk> business |
<unk> corp. san francisco said third-quarter profit was essentially flat despite a large one-time gain a year earlier |
the insurance and financial services concern said profit for the quarter rose N N to $ N million or $ N a share compared with $ N million or $ N a share the year earlier |
the results reflected a N N gain in income from its finance businesses and a N N slide in income from insurance operations |
<unk> said third-quarter investment gains were $ N million compared with $ N million the year earlier |
it said insurance profit reflected a $ N million loss from hurricane hugo |
it also estimated that losses from the oct. N earthquake in california would be no more than $ N million and would be included in fourth-quarter results |
<unk> international inc. <unk> heights n.j. facing a <unk> squeeze said it is seeking other financing sources and <unk> from debenture holders |
the company said that because of softening sales it is n't in compliance with requirements that it maintain $ N million in working capital |
<unk> distributes electronic devices and produces power supplies and plastic literature displays |
<unk> said it had a loss of $ N or N cents a share in the third quarter compared with a year-earlier loss of $ N or two cents a share |
sales rose to $ N million from $ N million |
for the nine months the company reported a net loss of $ N or N cents a share compared with year-earlier net income of $ N or N cents a share |
sales rose to $ N million from $ N million |
meridian national corp. said it sold N shares of its common stock to the mcalpine family interests for $ N million or $ N a share |
the sale represents N N of meridian 's shares outstanding |
the mcalpine family which operates a number of multinational companies including a london-based engineering and construction company also lent to meridian national $ N |
that amount is convertible into shares of meridian common stock at $ N a share during its one-year term |
the loan may be extended by the mcalpine group for an additional year with an increase in the conversion price to $ N a share |
the sale of shares to the mcalpine family along with the recent sale of N shares of meridian stock to <unk> <unk> holding plc of <unk> england and a recent public offering have increased meridian 's net worth to $ N million said william <unk> chief executive officer of toledo <unk> meridian |
ratners group plc a fast-growing <unk> london-based <unk> raised its price for <unk> specialty <unk> weisfield 's inc. to $ N a share or $ N million from $ N a share or $ N million after another concern said it would be prepared to <unk> ratners 's initial offer |
the other concern was n't identified |
ratners 's chairman gerald <unk> said the deal remains of substantial benefit to ratners |
in london at <unk> yesterday ratners 's shares were up N pence N cents at N pence $ N |
the sweetened offer has acceptances from more than N N of weisfield 's shareholders and it is scheduled for completion by dec. N |
the acquisition of <unk> weisfield 's raises ratners 's u.s. presence to N stores |
about N N of ratners 's profit already is derived from the u.s. |
carnival cruise lines inc. said potential problems with the construction of two big cruise ships from finland have been <unk> |
last week miami-based carnival disclosed that waertsilae marine industries the finnish shipyard that is building carnival 's new cruise ships planned to file for bankruptcy |
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