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The Florida judge in a class-action suit against tobacco groups Thursday allowed one of the pioneering case's lead smokers to take a back seat in the upcoming trial after he complained of intimidation.
Stanley Rosenblatt, the lawyer pursuing the class-action suit on behalf of all ill and addicted smokers in Florida, sa... | 33 |
BellSouth Corp will expand by a third its network of wireless-telephony shops in a campaign to cut the nearly $400 it spends acquiring each new customer, chief financial officer Ronald Dykes said on Thursday.
The company operates 200 or more of its own outlets selling BellSouth Mobility cellular-telephone services and ... | 33 |
Tobacco companies are countersuing Florida, saying the state government should be held liable for manufacturing cigarettes in its prisons if the state wins a billion-dollar lawsuit against cigarette makers.
Tobacco industry lawyers filed the suit on Wednesday, a Philip Morris Cos spokeswoman said and comes a week after... | 33 |
Florida Panthers Holdings Inc's cash flow losses are narrowing because of strong professional hockey revenues and a lift from newly acquired leisure properties, President Richard Evans said Tuesday .
"The games are sold out, and advertising and sponsorship revenue is better than expected," Evans told Reuters after a pr... | 33 |
RJR Tobacco, a unit of RJR Nabisco Holdings, said on Friday that documents it turned over to Minnesota in a lawsuit may suggest its executives considered using additives to enhance the nicotine kick of its cigarettes.
The company also said in a brief summary of some of the papers delivered to Minnesota state lawyers th... | 33 |
R.J. Reynolds executives considered using additives to enhance the nicotine kick of cigarettes and also considered beefing up marketing to teenagers, according to a summary of documents that the company's parent turned over in a Minnesota lawsuit.
R.J. Reynolds, a unit of RJR Nabisco Holdings Corp., said Friday it turn... | 33 |
Florida is stepping up anti-smoking efforts by barring cigarette promotions on state roads, forcing Marlboro to drop its name from thousands of banners promoting the Marlboro Grand Prix of Miami motor race.
New rules detailing limits on using banners to promote sports events, to be published on Friday, are due to take ... | 33 |
Florida Attorney General Bob Butterworth said on Friday U.S. cigarette makers had delayed harsh revelations about the industry with a surprising decision to end pre-trial opposition to punitive damages in the state's multi-billion dollar anti-tobacco lawsuit.
Butterworth told Reuters a court hearing set for January 24 ... | 33 |
Sunbeam Corp., the struggling appliance maker led by corporate turnaround specialist Albert Dunlap, said Tuesday it would cut 6,000 jobs -- half its work force -- and eliminate 87 percent of its product lines.
The drastic measures, even more severe than Wall Street had expected, were announced just four months after Du... | 33 |
A Florida judge said on Monday that tobacco-company lawyers fighting a massive secondhand- smoking suit brought by sick flight attendants were unlikely to win separate trials for each of as many as 300,000 claims.
Tobacco-company lawyers arguing during an informal hearing in the run-up to a June 2 class-action trial sa... | 33 |
Silver King Communication's $1.27 billion stock-swap acquistion of Home Shopping Network hastens Silver King's plans to become a conventional broadcast-TV powerhouse, Silver King said on Monday.
The deal re-uniting Silver King, spun off by Home Shopping five years ago, with its former parent also feeds speculation that... | 33 |
Sunbeam Corp., the struggling appliance maker led by corporate turnaround specialist Albert Dunlap, said Tuesday it would cut 6,000 jobs -- half its work force -- and eliminate 87 percent of its product lines.
The drastic measures, even more severe than Wall Street had expected, were announced just four months after Du... | 33 |
H.J. Heinz Co chairman Tony O'Reilly said on Friday the U.S. food group was in deal talks with prospective buyers and would sell substantial businesses by April 30.
"By the end of the fiscal year, the businesses will have a leaner focus," O'Reilly said in a telephone interview.
O'Reilly declined to identify the busin... | 33 |
International businessman Tony O'Reilly said on Friday acquisitions by his Independent Newspapers Plc will slow considerably next year after the takeover of New Zealand's leading newspaper and other deals.
"I consider next year a year of consolidation," Independent Newspapers Chairman O'Reilly told Reuters in a telepho... | 33 |
Riding rising U.S. cable TV fees, Time Warner Inc said its earnings before heavy debt payments shot up 32 percent in the third quarter, compared with the same three months last year.
Covering the quarter before last Thursday's completion of its $7.5 billion acquisition of Turner Broadcasting System, the entertainment g... | 33 |
Debt reduction, largely through rejigging its vast cable holdings, is the central task of top managers at Time Warner Inc after the $7.5 billion Turner deal, senior executives said on Wednesday.
The company, which last week took control of Turner Broadcasting System Inc, is in active discussions aimed at restructuring ... | 33 |
VTR Galaxy Chile SA won government permission to offer direct-to-home (DTH) television and will start selling the DIRECTV service in Chile by March 31, the head of DIRECTV's Latin American operations said on Wednesday.
The approval by the Transportation and Telecommunications Ministry gives DIRECTV, a consortium of a H... | 33 |
The head of America's most popular cable television service said on Tuesday that Latin American television will continue booming into the 21st century and that pan-regional advertising would shoot up to $1 billion within a decade.
Kay Koplovitz, chief executive of U.S.A. Networks, told an industry conference that cross... | 33 |
Two leading international satellite-television groups said on Wednesday they will overcome regulatory hurdles and enter Argentina, a country already heavily penetrated by pay-television and whose satellite-TV rights are held by a smaller rival.
"We intend to be there; it's key to our strategy," said Mark Goldman, a vic... | 33 |
Carnival Corp is shopping around Europe and elsewhere for acquisitions and partners to boost the number of passengers on its cruise ships, industry analysts said on Tuesday.
The company -- the leader of the pleasure cruise market with 28 percent -- is said to be in talks to acquire Italy's Costa Crociere Spa.
Trading i... | 33 |
The $600 million acquisition of National Car Rental would give Republic Industries Inc inventory for its fledgling AutoNation used-car chain but little added purchasing power in Detroit.
"There's no such thing as a volume discount," said automobile-industry analyst Maryann Keller at Furman Selz in New York. "It makes n... | 33 |
Republic Industries Inc. Monday agreed to buy National Car Rental System Inc. for about $600 million in stock, another step into auto rentals that will also feed its growing used car business.
Republic, a diversified, Fort Lauderdale, Fla.-based company controlled by Florida billionaire Wayne Huizenga, said it would of... | 33 |
Lawyers battling cigarette companies on behalf of flight attendants exposed for decades to second-hand smoke on Wednesday began notifying potential claimants of a historic tobacco trial set to begin in June.
A mass mailing to some 120,000 former and current flight attendants on U.S. airlines seeks to identify non-smoke... | 33 |
In a move to end "shock at the dock," six top cruise-ship lines agreed Wednesday to include all fees in the advertised price, and make booking a cruise as simple as buying an airline ticket.
Add-on fees as high as $150 a person will be included in advertised prices so consumers will not be surprised when the final tall... | 33 |
With the dark cloud of high raw material costs now clearing, large U.S. newspapers companies are expected to report good third-quarter earnings despite weak growth in advertising.
"I keep hearing good news out of these guys, and they're all smiling about newsprint," said Prudential Securities newspaper industry analyst... | 33 |
Florida is set to challenge the tobacco industry on Friday using a tough anti-racketeering law that could mean bigger damages against cigarette makers if the state prevails.
The new claim under the state's Racketeer Influenced and Corrupt Organisations Act, tacked onto Florida's existing lawsuit that seeks at least $1 ... | 33 |
Grand Metropolitan Plc's Burger King is benefitting from a sales recovery in Europe, as well as strong U.S. expansion, and should post $10 billion in sales in the fiscal year ending September 30, Burger King chief executive Robert Lowes said on Tuesday.
"There's no question that my goal for this year is $10 billion, to... | 33 |
Tony O'Reilly, best known in America as H.J. Heinz chairman, has the U.S. food group slimming down while beefing up his family's Independent Newspapers Plc of Ireland.
Independent, an acquisitive, fast-growing company that is 28 percent owned by O'Reilly and his family, competes in deals and markets with such internati... | 33 |
The Florida judge in a class-action suit against tobacco groups Thursday allowed one of the pioneering case's lead smokers to take a back seat in the upcoming trial after he complained of intimidation.
Stanley Rosenblatt, the lawyer pursuing the class-action suit on behalf of all ill and addicted smokers in Florida, sa... | 33 |
Any walkout by American Airlines pilots would hit tourist-dependent Caribbean islands like a hurricane, while Latin America's diversified economies should easily weather a service-stoppage.
"A hurricane hits only one island, and this will hurt all the islands," said Antonio Colorado, executive director of the Caribbean... | 33 |
"Chainsaw Al" Albert Dunlap, the chief executive of Sunbeam Corp aiming to halve his workforce and add $1 billion in sales, ran into Wall Street skepticism.
The company's shares have been riding high, up more than 100 percent since Dunlap's appointment as Sunbeam CEO last summer, but dropped 1/2 to 25-1/4 on Tuesday af... | 33 |
Billionaire Wayne Huizenga's Republic Industries Inc. added another sales outlet to its mushrooming auto-retailing business with the $200 million acquisition Tuesday of a leading Florida car dealer.
Republic said in a news release it was issuing stock to acquire Maroone Automotive Group, the owner and operator of seven... | 33 |
Anti-tobacco lawsuits brought by Florida and other state governments under anti-racketeering laws are meant to demonize cigarette manufacturers and turn Americans against a legitimate industry, a tobacco-industry lawyer said on Friday.
At a pre-trial hearing of a high-stakes tobacco lawsuit, attorney Irvin Nathan held ... | 33 |
New Corp. Ltd. said Tuesday that its Fox News division will file suit Wednesday in U.S. District Court here against Time Warner Inc., Turner Broadcasting System Inc. and its Chairman Ted Turner, alleging antitrust violations.
News Corp., which is led by media mogul Rupert Murdoch, said the suit will allege that an anti... | 33 |
Eastman Kodak Co secured only a partial exit from the bruising copier wars with the $684 million sale on Monday of its copier-marketing and service operations to Britain's Danka Business Systems Plc.
Prompted by chronic financial weakness, highlighted by the fact Kodak's copier sales of $1.8 billion yield only $20 mill... | 33 |
Quick & Reilly Group Inc agreed on Wednesday to buy over-the-counter market-maker Nash, Weiss Inc, another step by the pioneering discount broker into low-profile, but lucrative financial services businesses.
Terms were not disclosed, but two sons of co-founder Leslie Quick Jr said in an interview that the acquisi... | 33 |
Quick & Reilly Group Inc sees revenues possibly doubling to as much as $120 million by early 1998 at the OTC market-maker, Nash, Weiss & Co, the pioneering discount broker is buying, top Quick executives said on Wednesday.
The firm also plans to move Nash, Weiss, now largely a market maker for retail brokerages... | 33 |
Lawyers battling cigarette companies on behalf of flight attendants exposed for decades to second-hand smoke began notifying potential claimants Wednesday of the first broad class-action tobacco suit to go to trial.
The mass mailing to some 120,000 former and current flight attendants on U.S. airlines was meant to find... | 33 |
International businessman Tony O'Reilly said on Friday acquisitions by his Independent Newspapers Plc will slow considerably next year after the takeover of New Zealand's leading newspaper and other deals.
"I consider next year a year of consolidation," Independent Newspapers Chairman O'Reilly told Reuters in a telepho... | 33 |
The head of Walt Disney Co's international television business said on Thursday talks with Latin America satellite-television companies could at any moment yield a deal on The Disney Channel.
"The talks are ongoing," Herbert Granath, chairman of Disney/International Television, told Reuters. "We would be capable of rea... | 33 |
Riding rising U.S. cable TV fees, Time Warner Inc said on Wednesday its earnings before heavy debt payments shot up 32 percent in the third quarter, compared with the same three months last year.
Covering the quarter before last Thursday's completion of its $7.5 billion acquisition of Turner Broadcasting System, the en... | 33 |
Time Warner Inc. said Wednesday it will launch its CNN/SI sports news service on Dec. 12, more than a month after the debut of another sports news television channel from rival media conglomerate Walt Disney Co.
Time Warner executives meeting reporters said CNN/SI would combine the television apparatus of the Cable New... | 33 |
A Florida judge said Friday that he was inclined to let stand civil claims filed under state anti-racketeering laws against the tobacco industry.
Speaking from the bench at the start of a preliminary hearing, Palm Beach County Circuit Judge Harold Cohen said he was inclined to let stand claims filed by the state using ... | 33 |
Quick & Reilly Group Inc. agreed Wednesday to buy over-the-counter market-maker Nash, Weiss Inc., another step by the pioneering discount broker into low-profile but lucrative financial-services businesses.
Terms were not disclosed, but two sons of co-founder Leslie Quick Jr. said in an interview that the acquisit... | 33 |
Silver King Communications Inc. agreed Monday to buy the Home Shopping Network (HSN) for about $1.3 billion in stock, feeding speculation that Barry Diller was getting set to launch another major television network.
Diller, who is chairman of both Silver King and Home Shopping, could be positioning his companies to com... | 33 |
Born as the world's first airborne crop-dusting service, Delta Air Lines Inc. may be on the verge of an alliance that would make it the industry's top gun.
The New York Times and Wall Street Journal, both quoting sources familiar with the discussions, reported that Delta and Continental Airlines have been talking about... | 33 |
Lawyers in a class-action suit against cigarette makers won the right to question and videotape the chief executives of several top tobacco companies, lawyers said on Thursday.
The chief executives of Brown & Williamson, a subsidiary of B.A.T Industries Plc; the tobacco unit of Philip Morris Cos Inc; the RJ Reynold... | 33 |
Cigarette companies, complaining of likely bad publicity, Friday dropped pre-trial opposition to punitive claims by the state of Florida in a multi-billion dollar anti-tobacco lawsuit.
Florida is seeking $1 billion or more from U.S. cigarette makers for actual costs incurred in its Medicaid healthcare programme for tre... | 33 |
Taking mortgage-backed securities as a model, trucking giant Ryder System Inc is bargaining with a half dozen banks on possibly creating securitized financial offerings on as many as 15,000 leased trucks a year.
A first offering of securitized truck leases could come as early as March and all offerings could total as m... | 33 |
Silver King Communications Inc chairman Barry Diller said on Monday that the $1.27 billion stock-swap acqusition of Home Shopping Network would help fund Silver King's ambitious broadcasting plans.
"We have a long agenda and this helps certainly in developing the stations. We will get there quicker by combining the two... | 33 |
Amoco Corp is basing its 1997 business plans on assumed prices of $18 to $19 per barrel for crude oil and $2.00 to $2.10 per thousand (corrects from million) cubic feet for natural gas, said chief financial officer John Carl.
In an interview with Reuters, Carl said, "We're making our investment decisions on $18 to $19 ... | 22 |
Columbia/HCA Healthcare Corp., the largest U.S. hospital company, Thursday agreed to buy pharmacy benefits management firm Value Health Inc. for about $1.3 billion in stock.
The deal caused concern on Wall Street, which sold off Columbia shares. Its stock fell $1 to $39.25 on the New York Stock Exchange.
Some analysts ... | 22 |
Aon Corp. said Wednesday it agreed to acquire Alexander & Alexander Services Inc. for about $1.23 billion, creating by some counts the world's largest insurance and risk consulting company.
Aon, a Chicago-based insurance holding company, said it will pay $17.50 a share, or about $790 million, for Alexander & Al... | 22 |
In a move that would reshape the world medical device business, St. Jude Medical Inc agreed Wednesday to make four long-awaited, strategic transactions that would lift it into the top ranks of manufacturers of devices for regulating heartbeat.
The $665-million package of interlocking deals is costly and poses some risk... | 22 |
Outboard Marine Corp said it is only five percent finished with a radical restructuring that it expects will result in more charges against earnings in 1997 and possibly in 1998, the company said.
Restructuring is about "five percent complete as far as going down the road and getting the savings," said spokesman Stan M... | 22 |
In a move that would reshape the medical device business, St. Jude Medical Inc. agreed Wednesday to make four strategic transactions that would lift it into the top ranks of manufacturers of devices for regulating heartbeat.
The $665 million package of interlocking deals is costly and poses some risks, but likely will ... | 22 |
Freed from its slow-growing data storage and imaging businesses, Minnesota Mining & Manufacturing Co showed on Friday it can excite Wall Street.
The St. Paul, Minn.-based manufacturing giant -- sometimes seen as a mirror of the U.S. economy -- posted strong third quarter sales and earnings growth versus year-ago re... | 22 |
Increasing pressure from customers to hold down prices will keep a profit squeeze on U.S. medical device manufacturers in 1997, although the sector's biggest firms are expected to show healthy growth.
Other variables looming over the industry are the naming of a successor to departing U.S. Food and Drug Administration ... | 22 |
The growing attractiveness of the subprime auto lending market was underlined again Monday when Olympic Financial Ltd said it had received expressions of interest from more than one potential acquirer.
Olympic expects to get a formal acquisition offer "within the next several weeks," said spokeswoman Jennifer Weichert.... | 22 |
Baxter International Inc said it expects to maintain annual gross profit margin in the 44 to 45 percent range.
"We'll definitely be able to stay, on an annual basis, in the 44 to 45 percent range," said chief financial officer Harry Kraemer in an interview with Reuters.
The Deerfield, Ill.-based medical products and se... | 22 |
Ford Motor Co. said Wednesday it may sell its interest in Budget Rent a Car, joining other U.S. automakers in their race to exit the battered rental car business.
"We're looking at the idea that a sale could be done," said Ford spokesman Chris Vinyard.
Ford does not own Budget outright, holding non-voting preferred sha... | 22 |
Approval of Eli Lilly & Co's new anti-schizophrenia drug, Zyprexa, is expected to come soon from the U.S. Food and Drug Administration, analysts said.
Marketing clearance for the drug, known generically as olanzapine, would put Lilly in the front of a parade of new anti-schizophrenia medications coming on the U.S. ... | 22 |
If the weather cooperates, U.S. retailers expect this weekend to cap a holiday shopping season that looks moderately better than last year's, despite being shorter by five days.
"This weekend is crucial," said Prudential Securities retail analyst Wayne Hood in Atlanta. "With the snow and cold weather, it's a little too... | 22 |
TheraTx Inc does not expect the federal government to implement new guidelines for certain key Medicare reimbursement rates until the summer of 1997, postponing until then any likely damage to the health care services concern's profitability.
"It's a government reimbursement change which is forthcoming. It will definit... | 22 |
Heartport Inc leaped almost a year ahead of its scheduled plan for developing a new heart surgery technology thanks to an earlier-than-expected U.S. Food and Drug Administration approval granted on Monday.
As a result, analysts who had looked for Heartport to turn its first profit in 1999 are now talking about 1998.
Fo... | 22 |
Amidst a wave of consolidation, U.S. hospital management and nursing home companies are expected to post mixed results in the third quarter.
Big hospital companies, despite cost and competitive pressures, are beating up on non-profits and posting fat profit margins. The average gain expected from the top five firms is ... | 22 |
Freed from its slow-growing data storage and imaging businesses, Minnesota Mining & Manufacturing Co. Friday reported a 16 percent jump in earnings for the third quarter.
The St. Paul, Minn.-based manufacturing giant -- sometimes seen as a mirror of the U.S. economy -- said net profits rose to $398 million, or 95 c... | 22 |
General Instrument Corp. said Tuesday it planned to split into three companies through a tax-free spin-off to shareholders in a bid to boost its stock market value.
Wall Street welcomed the move, which was seen as unlocking the value of the Chicago-based company's core high-tech communications business.
"That's where t... | 22 |
Major retailers reported mixed results for the crucial holiday sales season Thursday, sparking a drop in retail stocks.
The preliminary holiday reports by J.C. Penney Co. Inc., Dayton Hudson Corp., Carson Pirie Scott & Co. and others are "further confirmation that the holiday was one of moderate growth," Morgan Sta... | 22 |
The Food and Drug Administration is approving new drugs and medical devices at a rapid clip this year, heartening drug and device companies that have long criticised the agency.
In the federal fiscal year ended Sept. 30, the agency cleared for U.S. marketing 46 new drugs, up from 26 approvals in fiscal 1995, the agency... | 22 |
Eight of the top 10 publicly traded U.S. health maintenance organizations are expected to report lower or flat fourth-quarter profits as the industry shuts the books on a dismal year and moves warily into 1997.
Dissatisfied with narrow profit margins, Wall Street is turning cautious on many HMO stocks, although plenty ... | 22 |
General Instrument Corp pleased Wall Street Tuesday by announcing a three-way corporate break-up that analysts said will unlock the value of the company's core high-tech communications systems business.
"Generally, these things work in the sense that when you do the spinoff, the sum of the parts tends to be greater tha... | 22 |
Eli Lilly & Co's third-quarter profits are expected to be up strongly over 1995, but analysts expressed some concern about the drugmaker's profit margins.
Increased marketing costs for the anti-depressant Prozac and the recently launched anti-schizophrenic drug Zyprexa may combine with higher sales of lower-margin ... | 22 |
Outboard Marine Corp chief executive Harry Bowman talked Thursday with the principals of Greenway Partners -- Alfred Kingsley and Gary Duberstein -- who have bought an 8.5-percent stake for nearly $30 million in the manufacturer of boats and boat engines.
"It was really just a get-acquainted call," said Stan Main, spok... | 22 |
Merger synergies that were supposed to carry Pharmacia & Upjohn Inc through a dry spell in its new product pipeline are not being realized as planned, raising questions about the drug giant's short-term future.
Shares in the barely one-year-old Swedish-American concern fell 6-1/2 to 34-7/8 on Friday after it said i... | 22 |
Cellex Biosciences Inc said it expects to report a strong fiscal fourth quarter ending September 30 and to move into the black next fiscal year.
In a Reuters interview, chief executive Richard Sakowicz said revenues this year will be "substantially up" from last year. "We're going to have a good fourth quarter," he sai... | 22 |
Shareholders are pushing harder for change at WMX Technologies Inc, which said Monday a major investor is proposing that the company hire investment bankers to examine further sales of non-core assets.
Lens Inc, based in Washington, D.C., also has hired an executive recruiter to assemble an alternate slate of nominees ... | 22 |
A lower than expected third quarter sales growth rate may explain why shares in Guidant Corp closed off 2-7/8 to 46-1/2 Monday on the New York Stock Exchange, said Guidant chief executive Ronald Dollens.
"There was some expectation of higher sales growth rates," Dollens said in an interview with Reuters.
Sales increase... | 22 |
Ford Motor Co joined other U.S. automakers Wednesday in their accelerating race to exit the battered car rental business.
Ford said it may sell its interests in Budget Rent a Car, the nation's sixth-largest rental car agency.
If a sale goes through, as analysts widely expect, Budget would be the fifth major agency to c... | 22 |
Wall Street hammered shares of Swedish-American drug giant Pharmacia & Upjohn Friday after it said profits would fall far short of expectations.
The company said it expects earnings of about 44 cents a share for the third quarter, equal to year-ago results. Analysts had expected 10 cents more than that and hit the ... | 22 |
Aon Corp said Wednesday it expects to take a charge against earnings of about $100 million in the 1997 first quarter on its $1.23-billlion purchase of Alexander & Alexander Services Inc.
In an interview, Aon Chief Executive and Chairman Patrick Ryan told Reuters, "There will be consolidating costs that will take pl... | 22 |
Third-quarter profits for St. Jude Medical Inc were held back by several factors, including a missed heart valve sale to Iran, tax law changes and a dilutive acquisition, said chief executive Ronald Matricaria.
In an interview with Reuters on Wednesday evening, Matricaria also said St. Jude would not rule out possibly ... | 22 |
Baxter International Inc said on Wednesday it expects to record unspecified charges against earnings in the first quarter of 1997 on in-process research and development acquired through its purchases of Research Medical Inc and Immuno International AG.
The amounts of the anticipated charges have not been determined, sa... | 22 |
Large U.S. medical device manufacturers are expected to post strong profit gains for the third quarter, possibly speeding a flight to quality in a sector where small-cap companies are taking a beating.
Five of nine big device companies are expected to report year-over-year earnings gains of 20 percent or more, accordin... | 22 |
After a tough year of slimmer profits and lower stock values, U.S. health maintenance organisations are expected to bounce back a bit in 1997.
Medical cost inflation is slowing and analysts see room for HMOs to raise premiums and restore some of the profit margin they lost this year. Still, the prognosis is cautious as... | 22 |
General Instrument Corp. said Tuesday it planned to split into three companies through a tax-free spin-off to shareholders in a bid to boost its stock market value.
Wall Street welcomed the move, which was seen as unlocking the value of the Chicago-based company's core high-tech communications business.
"That's where t... | 22 |
United Airlines has ordered $4.4 billion worth of airplanes from Boeing Co. and Europe's Airbus Industrie, with the the lion's share going to Boeing, the airline announced Thursday.
United ordered 27 wide-body jets -- 19 jumbo 747-400s, six 757s and two 777s -- valued at about $3.5 billion from Boeing and 24 narrow-bod... | 22 |
ClinTrials Research Inc expects to continue to expand revenues 35 to 45 percent per year, thanks to growing use by major pharmaceutical companies of outside research help and market share gains by the firm -- the world's fifth-largest contract research concern.
"We can grow at the 35-45 percent rate over the next sever... | 22 |
Monsanto Co. said on Monday it will spin off its chemicals business in a long-awaited and costly move that will allow the company to focus on its faster-growing agriculture, food and healthcare units.
Between 1,500 and 2,500 jobs will be eliminated in the transaction, causing the company to take a $400 million to $600 ... | 22 |
U.S. consumers are greeting the latest home computers -- faster than ever, but lacking new whiz-bang features -- with a collective yawn.
Major U.S. electronics retailers said Thursday that home PC sales were weak in October and analysts see few signs of a recovery without lower prices or a technology breakthrough.
"Eve... | 22 |
Holiday sales for top U.S. retailers so far look mildly disappointing, but Wall Street is withholding judgment on the season and retailing's fourth quarter profit outlook until all the scores are tallied.
"There's a lot of nervousness about retailers and what they're going to report. It's definitely taking a toll on th... | 22 |
Chicago Board of Trade Chairman Patrick Arbor said Thursday he expects electronic technology to replace open outcry trading in 20 to 25 years.
"I would think that in 20 to 25 years, there will be some kind of technology that will replace the traditional, open outcry market," Arbor said in answer to a student's question... | 22 |
Major retailers reported mixed results Thursday for the crucial holiday sales season, sparking a drop in their stocks on Wall Street.
The preliminary holiday reports by J.C. Penney Co. Inc., Dayton Hudson Corp., Carson Pirie Scott & Co. and others are "further confirmation that the holiday was one of moderate growt... | 22 |
General Instrument Corp is setting goals for NextLevel Systems Inc -- the lead business to come out of a three-way corporate break-up -- of 35-45 percent annual operating income growth and 22-25 percent annual sales growth on operating margins of 10-12 percent.
Those growth rates could be even higher this year, General... | 22 |
Most U.S. nursing home and hospital companies are expected to report higher profits in the fourth quarter on some easy comparisons, but Wall Street is wary of negative surprises.
"A lot of them are going against very weak results last year so they have easy comparisons," said NatWest Securities industry analyst Marie C... | 22 |
Aon Corp's acquisition of Alexander & Alexander Services Inc looks like a good deal for both insurance giants and an even better one for American International Group Inc.
Aon will pay an aggregate of $1.23 billion for Alexander & Alexander -- a price called reasonable by industry analysts.
Included in that amou... | 22 |
Pall Corp and Memtec Ltd may have different reasons, but they seem equally determined to acquire Gelman Sciences Inc.
Analysts and arbitrageurs were reluctant to say whether that portends an all-out bidding war, especially after a rally in American Depositary Shares of Memtec on Thursday that reflected some doubt on Wa... | 22 |
United Airlines said Thursday it ordered 51 new airliners valued at $4.4 billion from Boeing Co. and Airbus Industrie, and although the lion's share went to Boeing, one industry analyst said the European consortium scored a big victory over arch-rival Boeing.
United said it will buy 24 narrow-body A319 aircraft from Ai... | 22 |
When Pharmacia & Upjohn Inc launched Caverject, an anti-impotence drug, it ordered the usual marketing programme and then, in line with a growing trend, it called Time magazine.
And Newsweek and Smithsonian and New Yorker and more than 50 other national publications and radio stations -- all of which are now engage... | 22 |
Eli Lilly & Co expects marketing and administration costs in the fourth quarter to be only slightly up or flat versus the year-ago level, marking a slowdown from a third-quarter jump of 6.5 percent.
The line item "may be up a couple percent, but certainly below the growth rates we showed in the third quarter," Lill... | 22 |
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