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NATIONAL BANC OF COMMERCE CO <NBCC> SETS PAYOUT | Qtly div 14 cts vs 14 cts prior
Pay April Eight
Record March 26
Reuter
|
HARSCO CORP <HSC> SETS REGULAR PAYOUT | Qtrly div 25 cts vs 25 cts
Pay May 15
Record April 15
Reuter
|
MADAGASCAR COCOA PRODUCTION ESTIMATED HIGHER | Madagascar's cocoa production is
estimated 13 pct higher this year at 2,720 tonnes, up from
2,400 in 1986, Agriculture Ministry officials said.
This improvement reflects the government's efforts over the
last seven years to extend existing cocoa plantations and plant
new higher yielding varieties, particularly at t... |
COMPUTER ASSOCIATES <CA> SETS TWO FOR ONE SPLIT | Computer Associates
International Inc said its board has declared a two-for-one
stock split, payable May Seven, record April Seven.
Reuter
|
SWISS NET CAPITAL EXPORTS RISE IN 1986 | Increased activity by Switzerland's
banks pushed net capital exports to a provisional 11.7 billion
francs last year from 10.0 billion in 1985, the National Bank
said in a pre-publication copy of its annual report.
It also said the current account surplus of the Swiss
balance of payments reached a provisional 13.5 b... |
ST LAWRENCE SEAWAY OPENING STILL MARCH 31 | The St Lawrence Seaway between Lake
Ontario and Montreal is still scheduled to open for the
shipping season on March 31, a Seaway official said.
The Great Lakes could have been open for traffic earlier
this month due to the mild Winter, but scheduled repairs to the
Welland Canal joining Lake Erie with Lake Ontario ... |
DUTCH GRAIN LEVY TEST CASE TO START IN APRIL | A large Dutch animal feed compounder
will begin formal legal proceedings early next month as a test
case on the way the EC grain co-responsibility levy is applied,
a spokesman for Dutch grain and feed trade association, Het
Comite, told Reuters.
Het Comite has been co-ordinating national actions against
alleged dis... |
IDB APPROVES TRADE, PROJECT LOANS TO MEMBERS | The Executive Directors of the Islamic
Development Bank (IDB) approved a total of 115 mln dlrs of
trade and project financing loans to its member countries in
the first two days of its meetings here, a bank statement said.
Two Turkish iron and steel companies were lent a total of
14.5 mln dlrs for modernisation pro... |
Z-SEVEN FUND SEES HIGHER 1987 NET | <Z-Seven Fund Inc> said it expects to
earn six dlrs a share in 1987, up from 4.20 dlrs a share in
1986.
The company said the 1986 net earnings were up 30 pct from
3.22 dlrs in 1985. Net asset value in 1986 rose 35 pct to 16.09
dlrs a share from 11.89 a year earlier, adjusted for a
three-for-two stock split.
Reuter... |
FRENCH STOCK BILL TO BE PRESENTED BEFORE JUNE | The French government will present to
parliament a major bill within two months to overhaul the Paris
stock market, economics and finance minister Edouard Balladur
said.
Balladur told an Economist conference that on the product
side, a series of new contracts, including share options and
forward contracts in Europe... |
JAGUAR OFFERS NEW LUXURY SEDAN | Jaguar Cars Inc, a subsidiary of Jaguar
PLC, said it introduced its new 1988 XJ6 luxury sedan to
replace its Series III XJ6 sedan.
The 40,500-dlr car will be available in showrooms starting
May four, the company said.
Many parts of the XJ6 and the 44,500 dlr Vanden Plas have
been changed, adding high-tech featu... |
SPANISH REFINER PLANS GASOLINE ADDITIVE PLANT | Spain's state refiner Empresa Nacional
de Petroleo S.A. (EMP) plans to build its second unit for
production of methyl tertiary butyl ether (MTBE), a gasoline
additive replacing lead, company sources said.
The Coruna-based plant, with an annual capacity of 27,000
tonnes, and a 55,000-tonnes-per-year facility that EM... |
WALL STREET STOCKS/U.S. OIL COMPANIES | British Petroleum Co PLC's
announcement that its U.S. subsidiary intends to tender for the
45 pct of Standard Oil Co <SRD> it does not already own,
catapulted U.S. oil stocks sharply higher this morning, traders
and analysts said.
"It raises the specter of additional consolidation in the
industry and that is what i... |
ROY F. WESTON INC <WSTNA> 4TH QTR NET | Shr 15 cts vs 11 cts
Net 900,334 vs 482,705
Revs 28.7 mln vs 18.8 mln
Avg shrs 6,195,527 vs 4,551,105
Shr 51 cts vs 31 cts
Net 2,713,912 vs 1,402,696
Revs 98.7 mln vs 67.9 mln
Avg shrs 5,369,833 vs 4,551,105
NOTE: Share adjusted for three-for-two stock split
effecitive March 2, 1987.
... |
MOBIL <MOB> TO UPGRADE REFINERY UNIT | Mobil Corp said it will spend over 30
mln dlrs to upgrade a gasoline-producing unit at its Beaumont,
Texas, refinery.
It said the unit is a catalytic reformer, which converts
low-octane components of gasoline into high-octane components
for use in Super Unleaded gasoline.
The company said the modernization will... |
WARNER-LAMBERT <WLA> SUES MASON DISTRIBUTORS | Warner-Lambert Co said it
has filed suit in U.S. District Court in New Jersey against
<Mason Distributors Inc>, alleging unfair competition.
It said the suit results from Mason's distribution of
children's allergy medicine in packages allegedly resembling
those of Warner-Lambert's Benadryl capsules and elixir.
Reu... |
NOVA <NOVX> TO GET BRADYKININ ANTAGONIST PATENT | Nova Pharmaceutical Corp said the
U.S. Patent Office has allowed its patent for bradykinin
antagonist drugs. Nova said patents have also been filed in
other countries worldwide.
It said it has the exclusive worldwide rights to these
patents for the first bradykinin blocking drugs being developed
as topical pain rel... |
BLOCKBUSTER <BBEC> TO ACQUIRE LICENSEE | Blockbuster Entertainment Corp said it
agreed to buy <Southern Video>, a Blockbuster licensee in San
Antonio.
Blockbuster said it will issue 80,460 shares of its common
stock for all the net assets of Southern Video.
The company said after the acquisition is complete, it
intends to open additional Blockbuster V... |
BRAZIL SOY HARVEST 13 PCT COMPLETE - NEWSLETTER | Brazil's soybean harvest was 13
pct complete by March 20, the Safras e Mercado newsletter said.
This compares with an historic average for this time of
year of 20 pct.
The newsletter gave the following figures for the progress
of the harvest in the main producer states:
Parana: 40 pct
Mato Grosso do Sul... |
CONTEL <CTC> TO BUY WALKER COUNTY TELEPHONE | Contel Corp said it has agreed in
principle to acquire <Walker County Telephone Co> of LaFayette,
Ga., for an undisclosed amount of common stock.
Walker has 7,600 customers in northeast Georgia.
The company said the agreement is subject to approval by
regulatory agencies, both boards and Walker shareholders.
R... |
COMPUDYNE <CDC> SEES COSTS FROM CLEAN-UP STUDY | CompuDyne Corp said its
Robintech Inc unit expects to spend 300,000 to 350,000 dlrs on
a study of a former plant site requested by the U.S.
Environmental Protection Agency, EPA.
The company said another potentially responsible party was
also asked to share in the study. The plant, in Vestal, N.Y.,
has been designat... |
REUTERS TO CARRY SEAQ TWO-WAY U.K. SHARE QUOTES | Reuters Holdings Plc <RTRS.L> said it
had reached agreement with the London-based International Stock
Exchange on the distribution of two-way British domestic share
quotations from the Stock Exchange Automated Quotation System
(SEAQ) via the Reuter worldwide information network.
The company said in a statement the ... |
MULFORD SAYS G-6 WANTS STABILITY | Treasury Assistant Secretary David
Mulford said the Paris agreement among leading industrial
nations is intended to produce "reasonable stability" in exchange
markets over the next few months.
He told a Senate Banking subcommittee the Group of Five
nations and Canada agreed in Paris to "see if there can't be a
peri... |
SYMBOL TECHNOLOGIES <SMBL> GETS CONTRACT | Symbol Technologies Inc said it
has received an order worth over five mln dlrs to install its
LS-7000 hand-held laser scanners and related equipment in all
271 U.S. Toys "R" Us Inc <TOY> stores by the end of calendar
1987.
Reuter
|
THERMO PROCESS <TPSI> COMPLETES ACQUSITION | Thermo Process Systems Inc said
it completed its purchase of Thermo Process Services Inc, a
subsidiary of Thermo Electron Corp <TMO>.
Thermo Process Systems said it issued 2,590,000 shares of
its common stock to Thermo Electron in connection with the
sale.
Reuter
|
SIEMENS RAISES STAKE IN TELECOM PLUS OF U.S. | Siemens AG's <SIEG.F>
fully-owned subsidiary Siemens Informations Systems Inc. Has
raised its stake in Telecom Plus Communications Inc. By 65 pct
to 100 pct, a Siemens spokesman said.
He added that Telecom Plus Communications was the largest
independent supplier of telephone exchange systems in the U.S.
And had ach... |
FRUEHAUF POSTS 20.3 MLN DLR 1986 LOSS | Fruehauf Corp, which went private in
December through a leveraged buyout, said the predecessor
company had a 1986 loss of 60.9 mln dlrs compared to earnings
of 70.5 mln dlrs in 1985.
Sales of the predecessor company were 2.68 billion dlrs
compared to 2.56 billion dlrs in 1985, including the sales by
the operations ... |
MICHIGAN GENERAL <MGL> TO SELL KRESTMARK UNIT | Michigan General Corp said
it agreed to sell substantially all of the assets and certain
liabilities of its Krestmark subsidiaries to LCB Holdings Inc
for 6.5 mln dlrs cash.
Sale of Texas-based Krestmark, a maker of doors, door
frames and other products, will allow Michigan General to
concentrate on retailing throu... |
RABBIT SOFTWARE <RABT> TO MERGE WITH CTI DATA | Rabbit Software Corp said it
agreed in principle to merge with <CTI Data Inc>, a privately
owned communications company.
According to terms, CTI holders and employees will receive
200,000 shares of Rabbit stock and royalties on sales of CTI
Products. CTI will become a wholly owned subsidiary of Rabbit.
The deal... |
COMSTOCK GROUP INC <CSTK> 4TH QTR LOSS | Shr loss 60 cts vs loss 43 cts
Net loss 3,012,000 vs loss 2,114,000
Revs 102.8 mln vs 134.9 mln
Year
Shr loss 1.48 dlr vs loss four cts
Net loss 7,338,000 vs loss 180,000
Revs 354.9 mln vs 469.2 mln
NOTE: 1986 4th qtr and year net includes a loss of 623,000
dlrs and a gain 1,910,000 dlrs or ... |
TIME <TL> SINKING FUND DEBENTURES YIELD 8.84 PCT | Time Inc is raising 250 mln dlrs via
an offering of sinking fund debentures due 2017 yielding 8.84
pct, said lead manager Salomon Brothers Inc.
The debentures have an 8-3/4 pct coupon and were priced at
99.055 to yield 115 basis points over the off-the-run 9-1/4 pct
Treasury bonds of 2016. First Boston co-managed t... |
MITSUBISHI UNIT TO SUPPLY CELLULAR TELEPHONE SYSTEMS | ASTRONET Corp, which is jointly
owned by <Mitsubishi Corp> and <Stromberg-Carlson Corp> said
it entered into three separate agreements to supply cellular
telephone systems in Roanoke, Va.; Montgomery, Ala.; and San
Angelo, Texas.
Reuter
|
U.S. SENATE HITS EC OILS TAX, VOWS RETALIATION | The Senate voted to condemn the
proposed European common market tax on vegetable and marine
fats and oils and said it would result in retaliation.
The non-binding Senate resolution, a sense of Senate
sentiment, was approved on a 99 to 0 vote.
"The administration should communicate to the European
Community the ... |
HEALTHMATE INC SAYS AUDITORS INTEND TO QUALIFY ITS FINANCIAL STATEMENTS
| |
SWEDISH BANK, U.S. FIRM PLAN U.K. STOCK VENTURE | Sweden's Skandinaviska Enskilda Banken
said it will set up a joint venture in London with U.S.
brokerage firm Equitable Securities Corp of Nashville, Tenn.,
for the sale of U.S. equities in Europe.
S-E Bank's managing director Jacob Palmstierna told a press
briefing that the joint venture, called Equitable Enskilda... |
HARSCO CORP <HSC> SETS QUARTERLY | Qtly div 25 cts vs 25 cts prior
Pay May 15
Record April 15
Reuter
|
MILASTAR CORP <MILA> 3RD QTR JAN 31 LOSS | Shr loss two cts vs loss four cts
Net loss 44,000 vs loss 85,000
Sales 370,000 vs 299,000
Nine mths
Shr loss seven cts vs loss three cts
Net loss 134,000 vs loss 56,000
Sales 1,211,000 vs 1,069,000
NOTE: Prior nine mths net includes 10,000 dlr loss on sale
of marketable securities.
Prior... |
BDM <BDM> GETSW ARMY CONTRACT | BDM International Inc said it has
received a U.S. Army contract with a base year value of
1,400,000 dlrs to support the plans and operations staff of the
U.S. Army Joint Readiness Training Center, based at Little Rock
Air Force Base.
The company said with three option years, total value would
be about 7,200,000 dlr... |
BANK OF BOSTON EXPECTS 1ST QTR EARNINGS FROM 90 CTS TO 1.00 DLRS/SHR VS 79 CTS
| |
BANK OF BOSTON <BKB> SEES IMPROVED 1ST QUARTER | Bank of Boston Corp expects first
quarter earnings will range between 90 cts and one dlr a share,
up from 79 cts a share last year, Chairman William Brown said.
He told shareholders the company has a 190 mln dlr exposure
in loans to Brazil if that country defaults on its debt
payments. If a default does occur, it w... |
LIBYA REPORTEDLY BOUGHT WHITE SUGAR | Libya is reported to have recently
bought two cargoes of white sugar from operators at around
229/230 dlrs a tonne cost and freight, traders said.
The shipment period required was not specified.
Reuter
|
USAIR GETS APPROVAL TO BUY 9,309,394 PIEDMONT SHARES IN TENDER
| |
FED EXPECTED TO ADD RESERVES | The Federal Reserve is expected to
enter the U.S. government securities market to add reserves
during its usual intervention period today, economists said.
With federal funds trading at a steady 6-3/16 pct, most
economists expect an indirect injection of temporary reserves
via a medium-sized round of customer repur... |
WRIGHT SAYS HOUSE BUDGET COMMITTEE ON TARGET | House Speaker Jim Wright, D-Texas,
said House Budget Committee Democrats were on target to reach
budget deficit reduction goals with a plan for 18 billion dlrs
in new revenues and 18 billion dlrs in additional budget cuts.
"We're right on target," Wright told reporters. "The cuts are
real cuts. The revenues would b... |
GE <GE> CREDIT SUES PHOENIX FINANCIAL <PHFC> | Phoenix Financial Corp said it
was sued by General Electric Credit Corp, a unit of General
Electric Co, for breach of warranties and representations.
The warranties are connected with leases the company said
it sold to GE Credit in June 1985. GE is asking the company to
buy back leases totaling 829,000 dlrs.
Th... |
DOLLAR/YEN INTERVENTION RESPONDS TO PRESSURE | The Bank of France intervened to buy
small amounts of dollars and sell yen in Paris today to
stabilise the exchange rates agreed at last month's meeting of
Finance Ministers of the Group of Five and Canada, foreign
exchange dealers said.
But they said recent central bank intervention in the
foreign exchange markets... |
WALL STREET STOCKS/U.S. OIL COMPANIES | British Petroleum Co PLC's
announcement that its U.S. subsidiary intends to tender for the
45 pct of Standard Oil Co <SRD> it does not already own,
catapulted U.S. oil stocks sharply higher this morning, traders
and analysts said.
"It raises the specter of additional consolidation in the
industry and that is what i... |
MULFORD SAYS GERMANY, JAPAN HAVE NOT YET LIVED UP TO INTERNATIONAL COMMITMENTS
| |
ORIENTAL FEDERAL INITIAL OFFERING UNDER WAY | Oriental Federal Savings Bank of
Humacao, Puerto Rico, said an initial public offering of
656,819 common shares is under way at 11.50 dlrs per share.
The company issued a total of 1,075,000 shares in
converting from mutual form, with other shares sold in a
subscription offering. Lead underwriter is <Drexel Burnham... |
FARMERS COMMODITIES TO CLEAR FUTURES FOR CO-OPS | Farmers Commodities of Des Moines,
Iowa, has taken steps to become a clearing member of the
Chicago Board of Trade for farm cooperatives that currently
trade through Illnois Cooperative Futures Co.
Hal Richards, president of Farmers Commodities, said the
company already has bought a membership at the futures exchan... |
FRANK B. HALL <FBH> DEBT MAY BE CUT BY MOODY'S | Moody's Investors Service Inc said it
may downgrade about 65 mln dlrs of Frank B. Hall and Co Inc's
B-1 subordinated notes.
Moody's said its focus will be on Hall's brokerage business
and contingent liabilities associated with the unit Union
Indemnity Insurance Co.
The agency cited a 140 mln dlr lawsuit by the ... |
NORCEN SEES IMPROVEMENT IN 1987 EARNINGS | <Norcen Energy Resources Ltd>,
41 pct owned by <Hees International Corp>, said earnings and
cash flow will improve in 1987, even if oil and gas prices
remain at 1986 levels.
The improvement will result from production increases,
lower taxes and royalties, reduced financing costs and from
operating efficiencies and ... |
COCOA COUNCIL HEAD TO PRESENT BUFFER COMPROMISE | International Cocoa Organization, ICCO,
council chairman Denis Bra Kanon will present a compromise
proposal on buffer stock rules to producer and consumer
delegates either later today or tomorrow morning, delegates
said.
Bra Kanon held private bilateral consultations with major
producers and consumers this morning ... |
SIEMENS REBUTTS U.S. CRITICISM ON CGCT OFFER | Siemens AG <SIEG.F> rebutted U.S.
Criticism it is blocking American Telephone and Telegraph
Corp's <T.N>, AT and T, entry into French telecommunications
firm <Compagnie Generale Constructions Telephoniques>, CGCT.
Management board member Hans Baur told journalists that the
acquisition of a joint 20 pct stake in CGC... |
MULFORD DISAPPOINTED IN NEWLY INDUSTRIALIZED (NICS) EFFORTS TO STRENGTHEN CURRENCIES
| |
FORD <F> NEARS GM <GM> IN EXECUTIVE BONUSES | Ford Motor Co neared General Motors
Corp last year in executive bonuses, while it topped the larger
automaker in profit sharing payments to workers.
Ford, which outstripped GM in earnings last year, said its
1986 incentive bonuses totaled 167 mln dlrs, slightly behind
General Motors' 169.1 mln.
General Motors, ... |
MULFORD SAYS GERMANY, JAPAN SHOULD DO MORE | Treasury Assistant Secretary David
Mulford said he did not believe that West Germany and Japan
have yet carried out their international responsibilities.
"I do not believe they have up to this time," Mulford told
a Senate banking subcommittee.
He said that for the U.S. trade deficit to continue
improving in the... |
EC GRANTS EXPORT LICENCES 197,000 TONNES FREE MARKET MAIZE, ZERO BARLEY - PARIS TRADERS
| |
PIER 1 IMPORTS <PIR> DECLARES STOCK SPLIT | Pier 1 Imports Inc said its
board declared a three-for-two split of its common stock and
its 25 cents preferred stock, and declared a regular quarterly
dividend of two cents per share on the pre-split shares of
common stock outstanding.
Pier 1 also declared a 12.5 pct annual dividend increase
for the post-split com... |
RCM TECHNOLOGIES <RCMT> ORDER INCREASED | RCM Technologies Inc said its
contract to provide engineering personnel to the Sikorsky
Aircraft division of United Technologies Corp <UTX> has been
increased by 4,300,000 dlrs to 11.0 mln dlrs.
It said the contract runs through the end of 1987.
Reuter
|
LANCER CORP <LACR> 4TH QTR NET | Shr 12 cts vs 15 cts
Net 282,000 vs 360,000
Revs 5,261,000 vs 5,348,000
Avg shrs 2,336,000 vs 2,335,000
Year
Shr 91 cts vs 1.04 dlrs
Net 2,149,000 vs 2,075,000
Revs 28.2 mln vs 28.3 mln
Avg shrs 2,356,000 vs 2,001,000
NOTE: 1986 quarter net includes 72,000 dlr charge from
repal of in... |
THERMO PROCESS <TPSI> WINS 1.5 MLN DLR CONTRACT | Thermo Process Systems Inc said
it won a 1.5 mln dlr contract from Avtopromimport, a trading
company in the Soviet Union.
The company said it will supply a fully automated,
rotary-hearth furnace system to treat automobile transmission
gears.
Reuter
|
MACNEAL-SCHWENDLER CORP <MNS> 4TH QTR JAN 31 NET | Shr 16 cts vs 11 cts
Net 1,888,000 vs 1,307,000
Revs 7,365,000 vs 5,877,000
Year
Oper shr 58 cts vs 40 cts
Oper net 7,005,000 vs 4,866,000
Revs 27.1 mln vs 21.1 mln
NOTE: Prior year net excludes 263,000 dlr loss from
discontinued operations and 2,073,000 dlrs on disposal.
Share adjusted ... |
NICHOLS INSTITUTE <LAB> 1ST QTR FEB 28 NET | Shr two cts vs one ct
Net 83,000 vs 32,000
Revs 11.2 mln vs 7,625,000
Reuter
|
FIRST MEDICAL DEVICES CORP <FMDC> YEAR LOSS | Shr loss 97 cts
Net loss 1,364,453
Sales 737,971
NOTE: Company in development stage.
Reuter
|
FIRST MEDICAL <FMDC> GETS ORDER | First Medical Devices Corp said
it has received a contract to sell EMT-defibrillation equipment
to Lane County, Ore., for undisclosed terms.
Reuter
|
HEALTHMATE <HMTE> EXPECTS QUALIFIED OPINION | HealthMate Inc said its
auditors, Laventhol and Horwath, indicated they will issue a
qualified opinion on the company's financial statements.
The company, which went public in March 1985, earlier
reported losses for the fourth quarter.
It said the auditor's statement, known as a "subject to"
opinion, cautions t... |
BALLY <BLY> NAMES NEW CHIEF FINANCIAL OFFICER | Bally Manufacturing Corp said it has
elected Paul Johnson a vice president and named him chief
financial officer, replacing Donald Romans, who took early
retirement.
Bally also said it has appointed Jerry Blumenshine,
formerly a vice president, treasurer to fill the position left
vacant by Johnson.
Reuter
|
BRAZIL ASKS 60-DAY EXTENSION SHORT-TERM CREDIT | Brazil today suggested to its foreign
bank creditors an extension of short-term credit lines for 60
days until May 31, a spokesman for the Central Bank said.
He said that with the move, called a "standstill"
arrangement, Brazil was only trying to avoid difficulties to
pay its 109 billion dlrs debt in the future.
... |
HEALTHMATE INC <HMTE> 4TH QTR LOSS | Shr loss five cts vs loss six cts
Net loss 473,784 vs loss 489,257
Revs 268,797 vs 81,725
Avg shrs 9,245,247 vs 8,035,326
Year
Shr loss 17 cts vs loss 20 cts
Net 1,512,534 vs loss 1,553,592
Revs 1,448,310 vs 515,225
Avg shrs 8,745,132 vs 7,619,863
Reuter
|
USAIR <U> CLEARED TO BUY PIEDMONT <PIE> SHARES | USAir Group Inc said the U.S.
Department of Transportation has issued an order allowing it to
purchase and hold in a voting trust the 9,309,394 Piedmont
Aviation Inc shares USAir is seeking in its current 69 dlr per
share tender offer.
The company said the new order supersedes an order issued
by the department last... |
FED SETS TWO BILLION DLR CUSTOMER REPURCHASE, FED SAYS
| |
HOUSE OF FABRICS INC <HF> 4TH QTR JAN 31 NET | Shr 34 cts vs 20 cts
Net 2,253,000 vs 1,332,000
Sales 89.7 mln vs 85.9 mln
Year
Shr 94 cts vs 64 cts
Net 6,191,000 vs 4,257,000
Sales 316.4 mln vs 286.7 mln
NOTE: Prior year net both periods includes 2,100,000 dlr
charge from sale of Craft Showcase stores.
Reuter
|
GERMAN RETAILERS EXPECT GOOD 1987 | West German retailers expect another good
year in 1987 even though they will not be able to repeat the
sharp increase in turnover they enjoyed in 1986, the General
Association of the German Retail Trade (HDE) said.
HDE President Wolfgang Hinrichs said retailers would be
satisfied with a real turnover increase of be... |
GERMAN WAGE ROUND SAID TO LIMIT MONETARY OPTIONS | The Bundesbank's options for West
Germany monetary policy are limited for the foreseeable future
by the delicate stage of wage negotiations between unions and
employers, economists and money market dealers said.
Call money fell in quite active trading today, dropping to
3.40/50 pct from 3.55/65 pct yesterday, and b... |
FOREIGN FIRMS HOPE TO JOIN JAPAN TELECOM COMPANY | President Nobuo Ito of International
Telecom Japan Inc (ITJ), one of two rival firms seeking to
enter Japan's international telecommunications market, said it
will offer a stake in the company to 10 foreign firms.
But he declined to specify what share the firms would
take, and told Reuters they would not particip... |
SIEMENS RAISES STAKE IN TELECOM PLUS OF U.S. | Siemens AG's <SIEG.F>
fully-owned subsidiary Siemens Informations Systems Inc. Has
raised its stake in <Telecom Plus Communications Inc.> by 65
pct to 100 pct, a Siemens spokesman said.
He added that Telecom Plus Communications was the largest
independent supplier of telephone exchange systems in the U.S.
And had t... |
FIRST INTERSTATE SEEKS ACQUISITION | Less than two months after First
Interstate Bancorp withdrew its bold attempt to buy BankAmerica
Corp, Chairman Joseph Pinola is still looking for a good buy,
but he is also looking at ways to avoid being bought.
In a wide-ranging interview, Pinola said he's looking for
ways to improve profitability and capital bet... |
ATLANTIC RESEARCH <ATRC> WINS MOTOR CONTRACT | Atlantic Research Corp said its
propulsion division won a contract valued at 54 mln dlrs from
the missiles unit of LTV Corp's <QLTV> LTV Missiles and
Electronics Group.
The contract authorizes the fifth year increment of a
multiyear contract to make solid-propellant rocket motors for
the U.S. Army's Multiple Launch... |
THOMAS AND BETTS <TNB> FILES PATENT SUIT | Thomas and Betts Corp said it
filed a patent infringement suit against three companies in
connection with the manufacture and sale of its 50 Position
Transition "D" Subminiature IDC electronic connectors.
The company said the suit was filed in U.S. District Court
for the District of Delaware. Named in the suit were... |
HOUSE OF FABRICS <HF> SEES RESULTS IMPROVING | House of Fabrics Inc said
it expects growth in earnings and revenues as the current
fiscal year progresses.
It said it will open about 50 super stores this year.
House of Fabrics now operates 703 stores.
The company today reported earnings for the year ended
January 31 of 6,191,000 dlrs on sales of 316.4 mln d... |
U.S. SENATE HITS EC OILS TAX, VOWS RETALIATION | The Senate voted to condemn the
proposed European common market tax on vegetable and fish fats
and oils and said it would result in retaliation.
The non binding Senate resolution, a sense of Senate
sentiment, was approved on a 99 to 0 vote.
"The administration should communciate to the European
Community the me... |
CROP GENETICS INITIAL OFFERING UNDERWAY | <Crop Genetics International Corp>
said an initial public offering of 1,600,000 common shares is
underway at 14.50 dlrs per share through underwriters led by
<Drexel Burnham Lambert Inc>.
Reuter
|
KODAK <EK> BUYS STAKE IN BIOTECHNOLOGY COMPANY | Eastman Kodak Co said it has
reached an agreement to acquire new stock representing a 16 pct
interest in industrial biotechnology company <Genencor Inc> for
undisclosed terms.
Other Genencor shareholders include Staley Continental Inc
<STA>, Corning Glass Works <GLW> and Genentech Inc <GENE>.
The company said i... |
AVERY <AVY> 1ST QTR FEB 28 NET | Shr 33 cts vs 30 cts
Net 13.0 mln vs 11.9 mln
Sales 330.8 mln vs 249.7 mln
Reuter
|
FORD <F> CREDIT UNIT SELLS NEW ZEALAND DLR FRNS | Ford Motor Credit Co, a unit of Ford
Motor Co, is offering in the domestic debt market 100 mln New
Zealand dlrs of floating-rate notes due 1990, said sole manager
Bear, Stearns and Co.
The initial rate for the notes will be set on April 15 at
200 basis points below the 90-day New Zealand bank bill rate.
After that,... |
IONICS <ION> WINS 20-YEAR DESALINATION CONTRACT | Ionics Inc said it received a
20-year seawater desalination contract valued at more than 50
mln dlrs over the life of the contract from (Electrica
Maspalomas SA), a water utility in Grand Canary Island, Spain.
The contract supplements a previously announced 15-year
contract to supply desalted brackish water in the ... |
FED SETS TWO BILLION DLR CUSTOMER REPURCHASE | The Federal Reserve entered the U.S.
government securities market to arrange two billion dlrs of
customer repurchase agreements, a spokeswoman for the New York
Fed said.
Federal funds were trading at 6-3/16 pct at the time of the
indirect injection of temporary reserves.
Reuter
|
SENATE SEEKS U.S. PROBE OF CANADIAN CORN LEVY | The Senate voted unanimously to seek
an expedited U.S. probe of Canadian tariffs on corn imports to
determine if the United States should retaliate.
By 99 to 0, the Senate went on record against the 84.9
cents per bushel tariff approved by the Canadian Import
Tribunal.
The non binding measure asked for a probe ... |
RICOH REORGANIZES U.S. UNITS | Ricoh Corp, the U.S. unit
of Japan-based <Ricoh Ltd>, said it merged Ricoh Systems Inc
into Ricoh Corp.
The U.S. unit also purchased Ricoh Electronics Inc from the
parent company.
The company said the reorganization unites the sales,
research and development, and manufacturing operations of all
the U.S. units.
... |
UNITED WATER <UWR>, BASE TEN <BASE> SET VENTURE | United Water Resources
Inc said it formed a venture with Base Ten Systems Inc's Base
Ten Telecom Inc to sell a telephone-based automatic meter
reading system to the utility industry.
United Water Resources, parent of Hackensack and Spring
Valley Water Cos, said it will provide marketing and customer
support for Bas... |
KNIGHT-RIDDER INC <KRN> SETS QUARTERLY | Qtly div 25 cts vs 25 cts prior
Pay April 13
Record April Six
Reuter
|
TECHNITROL INC <TNL> SETS QUARTERLY | Qtly div 12 cts vs 12 cts prior
Pay April 21
Record April Seven
Reuter
|
NATIONWIDE CELLULAR SERVICE INC <NCEL> 4TH QTR | Shr loss six cts vs loss 18 cts
Net loss 89,478 vs loss 178,507
Revs 3,894,844 vs 1,964,141
Avg shrs 1,582,790 vs one mln
Year
Shr loss 43 cts vs loss 81 cts
Net loss 534,099 vs loss 811,836
Revs 12.2 mln vs 5,167,573
Avg shrs 1,251,337 vs one mln
Reuter
|
<A.H.A. AUTOMOTIVE TECHNOLOGIES CORP> YEAR NET | Shr 43 cts vs 52 cts
Shr diluted 41 cts vs 49 cts
Net 1,916,000 vs 2,281,000
Revs 32.6 mln vs 22.6 mln
Reuter
|
BRAZIL SUGGESTS 60-DAY SHORT-TERM CREDIT EXTENSION | Brazil today suggested to its foreign
bank creditors an extension of short-term credit lines for 60
days until May 31, a spokesman for the Central Bank said.
He said that with the move, called a "standstill"
arrangement, Brazil was only trying to avoid difficulties in
paying its 109 billion dlrs of debt in the futu... |
EMHART <EMH> WINS FOUR COMMUNICATIONS CONTRACTS | Emhart Corp said it received
four contracts valued at a total of seven mln dlrs to design,
develop and install data communications and automated
dispatching systems.
The company said its Planning Research Corp unit, which
received the contracts, will do the work for the city of Grand
Rapids, Mich., the New Jersey T... |
FLUOR <FLR> AND UNITS DOWNGRADED BY S/P | Standard and Poor's Corp said it
downgraded 360 mln dlrs of debt of Fluor Corp and its units
Fluor Finance N.V. and St. Joe Minerals Corp.
Cut were the firms' senior debt to BB from BBB and the
parent's commercial paper to B from A-2.
S and P cited industry overcapacity and weak pricing
conditions in Fluor's co... |
BRUNSWICK CORP <BC> SELLS NOTES AT 8.199 PCT | Brunswick Corp is raising 100 mln dlrs
through an offering of notes due 1997 yielding 8.199 pct, lead
manager Shearson Lehman Brothers Inc said.
The notes have an 8-1/2 pct coupon and were priced at 99.50
to yield 96 basis points over comparable Treasury securities.
The issue is non-callable for life and rated ... |
ROGERS <ROG> SEES 1ST QTR NET UP SIGNIFICANTLY | Rogers Corp said first quarter
earnings will be up significantly from earnings of 114,000 dlrs
or four cts share for the same quarter last year.
The company said it expects revenues for the first quarter
to be "somewhat higher" than revenues of 32.9 mln dlrs posted
for the year-ago quarter.
Rogers said it reach... |
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