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BAHIA COCOA REVIEW
| Showers continued throughout the week in
the Bahia cocoa zone, alleviating the drought since early
January and improving prospects for the coming temporao,
although normal humidity levels have not been restored,
Comissaria Smith said in its weekly review.
The dry period means the temporao will be late t... | Commodities and Trade |
COMPUTER TERMINAL SYSTEMS <CPML> COMPLETES SALE
| Computer Terminal Systems Inc said
it has completed the sale of 200,000 shares of its common
stock, and warrants to acquire an additional one mln shares, to
<Sedio N.V.> of Lugano, Switzerland for 50,000 dlrs.
The company said the warrants are exercisable for five
years at a purchase price of .125 dl... | Commodities and Trade |
N.Z. TRADING BANK DEPOSIT GROWTH RISES SLIGHTLY
| New Zealand's trading bank seasonally
adjusted deposit growth rose 2.6 pct in January compared with a
rise of 9.4 pct in December, the Reserve Bank said.
Year-on-year total deposits rose 30.6 pct compared with a
26.3 pct increase in the December year and 34.5 pct rise a year
ago period, it said in its w... | Other |
NATIONAL AMUSEMENTS AGAIN UPS VIACOM <VIA> BID
| Viacom International Inc said <National
Amusements Inc> has again raised the value of its offer for
Viacom's publicly held stock.
The company said the special committee of its board plans
to meet later today to consider this offer and the one
submitted March one by <MCV Holdings Inc>.
A spok... | Financial Reports |
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... | Corporate News |
ISLAND TELEPHONE SHARE SPLIT APPROVED
| <Island
Telephone Co Ltd> said the previously announced two-for-one
common share split was approved by shareholders at the annual
meeting.
| Financial Reports |
U.K. GROWING IMPATIENT WITH JAPAN - THATCHER
| Prime Minister Margaret Thatcher said
the U.K. Was growing more impatient with Japanese trade
barriers and warned that it would soon have new powers against
countries not offering reciprocal access to their markets.
She told Parliament that the bid by the U.K.'s Cable and
Wireless Plc <CAWL.L> to ent... | Financial Reports |
QUESTECH INC <QTEC> YEAR NET
| Shr loss nil vs profit 19 cts
Net loss 3,175 vs profit 284,945
Revs 13.6 mln vs 10.6 mln
Year
Shr profit 13 cts vs profit 56 cts
Net profit 195,202 vs profit 857,006
Revs 47.5 mln vs 42.9 mln
Note: Current year net includes charge against discontinued
operations of 1,060,84... | Financial Reports |
CANADA OIL EXPORTS RISE 20 PCT IN 1986
| Canadian oil exports rose 20 pct in 1986
over the previous year to 33.96 mln cubic meters, while oil
imports soared 25.2 pct to 20.58 mln cubic meters, Statistics
Canada said.
Production, meanwhile, was unchanged from the previous year
at 91.09 mln cubic feet.
Natural gas exports plunged 19.4 pct ... | Financial Reports |
COFFEE, SUGAR AND COCOA EXCHANGE NAMES CHAIRMAN
| The New York Coffee, Sugar and Cocoa
Exchange (CSCE) elected former first vice chairman Gerald
Clancy to a two-year term as chairman of the board of managers,
replacing previous chairman Howard Katz.
Katz, chairman since 1985, will remain a board member.
Clancy currently serves on the Exchange board... | Financial Reports |
MOST EC STATES SAID TO BE AGAINST OILS/FATS TAX
| A majority of European Community (EC)
member states are either against or have strong reservations
over a tax on both imported and domestically-produced oils and
fats proposed by the European Commission, senior diplomats
said.
They said a special committee of agricultural experts from
EC member states... | Other |
GOULD<GLD> COMPLETES SALE OF FRENCH BATTERY UNIT
| Gould Inc said it has
completed the sale of its French battery business, Compagnie
Francaise D'Electro Chimie, to a group of investors including
the unit's employees and <GNB Inc> of Minnesota.
Gould did not disclose terms of the deal.
Gould said the move is part of its previously announced
pla... | Other |
SHOE TOWN INC <SHU> YEAR ENDED JAN THREE 1987
| Shr 51 cts vs 75 cts
Net 5,524,000 vs 8,094,000
Revs 142.4 mln vs 137.2 mln
NOTE: 1986 and 1985 year net includes loss 785,000 dlrs or
eight cts a share and 59,000 dlrs or one ct a share,
respectively, for discontinued operations.
1985 year ended December 28, 1985.
| Financial Reports |
FIRST WISCONSIN <FWB> TO BUY MINNESOTA BANK
| First Wisconsin Corp said it
plans to acquire Shelard Bancshares Inc for about 25 mln dlrs
in cash, its first acquisition of a Minnesota-based bank.
First Wisconsin said Shelard is the holding company for two
banks with total assets of 168 mln dlrs.
First Wisconsin, which had assets at yearend of 7.... | Financial Reports |
AMERICAN NURSERY PRODUCTS <ANSY> 3RD QTR NET
| Period ended Feb 28
Shr profit five cts vs profit four cts
Net profit 191,000 vs profit 108,000
Sales 6,561,000 vs 5,896,000
Nine mths
Shr loss 28 cts vs loss 40 cts
Net loss 871,000 vs loss 990,000
Sales 9,310,000 vs 8,894,000
Avg shrs 3,086,386 vs 2,465,996
NOTE... | Financial Reports |
NATIONAL FSI INC <NFSI> 4TH QTR LOSS
| Shr loss six cts vs profit 19 cts
Net loss 166,000 vs profit 580,000
Revs 3,772,000 vs 5,545,000
Year
Shr loss 13 cts vs profit 52 cts
Net loss 391,000 vs profit 1,425,000
Revs 15.4 mln vs 16.6 mln
NOTE: 1985 year figures pro forma for purchase accounting
adjustments result... | Other |
DISCUS CORP <DISC> 4TH QTR LOSS
| Shr loss six cts vs loss seven cts
Net loss 125,000 vs loss 140,000
Rev 2.4 mln vs 2.2 mln
Year
Shr loss 13 cts vs loss 14 cts
Net loss 271,000 vs loss 211,000
Rev 10.1 mln vs 8.2 mln
| Market and Economy |
ENTERTAINMENT PUBLICATIONS SEES 31 CTS/SHR 3RD QTR LOSS ON UNITS DISPOSAL
|
ENTERTAINMENT PUBLICATIONS SEES 31 CTS/SHR 3RD QTR LOSS ON UNITS DISPOSAL
| Financial Reports |
PAY 'N PAK STORES INC <PNP> 4TH QTR FEB 28 NET
| Shr 11 cts vs 13 cts
Net 1,129,000 vs 1,301,000
Revs 83.2 mln vs 74.5 mln
Year
Shr 57 cts vs 82 cts
Net 5,686,000 vs 8,168,000
Revs 398.4 mln vs 333.8 mln
| Financial Reports |
(CORRECTED) - 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 mode... | Financial Reports |
AMERICAN NURSERY PRODUCTS <ANSY> 3RD QTR NET
| Qtr ends Feb 28
Shr profit five cts vs profit four cts
Net profit 191,000 vs profit 108,000
Revs 6,561,000 vs 5,896,000
Avg shrs 3.6 mln vs 2.5 mln
Nine mths
Shr loss 28 cts vs loss 40 cts
Net loss 871,000 vs loss 990,000
Revs 9,310,000 vs 8,894,000
Avg shrs 3.1 m... | Financial Reports |
VOLVO 1986 RESULT OFF SLIGHTLY FROM 1985
| AB Volvo <VOLV.ST> said the weakening
dollar caused the drop in its 1986 profits, but company chief
executive Pehr Gyllenhammar said 1986 was one of Volvo's best
years ever.
In its final report released earlier, the company said the
group's 1986 profits before allocations and taxes was 7.53
billion... | Financial Reports |
<MERIDIAN ENERGY>, CASTONE END LETTER OF INTENT
| <Meridian Energy Inc> and Castone
Development Corp, a privately-held company, jointly announced
that they have decided to terminate the letter of intent under
which Meridian would have acquired Castone.
| Commodities and Trade |
REPORT EXPECTS SHARP DROP IN WORLD IRON IMPORTS
| World seaborne iron ore imports will
fall sharply by the year 2000 with declining imports to the EC
and Japan only partially offset by increased demand from South
East Asia, a report by Ocean Shipping Consultants said.
The report predicts annual world seaborne iron ore imports
of 267.7 mln tonnes by 200... | Corporate News |
GOLDFIELD CORP <GV> 4TH QTR NET LOSS
| Shr loss four cts vs loss five cts
Net loss 527,065 vs loss 1,204,080
Revs 622,470 vs 613,205
Year
Shr profit four cts vs loss 13 cts
Net profit 1,099,778 vs loss 3,282,478
Revs 7,579,547 vs 6,068,254
NOTE: 1985 excludes loss from discontinued operations of
four cts per sha... | Corporate News |
BRITISH, FRENCH MINISTERS DISCUSS PUBLIC SPENDING
| French Finance Minister Edouard Balladur
discussed the need to control public spending in talks here
today with British Chancellor of the Exchequer Nigel Lawson, a
Treasury spokesman said.
The spokesman said the ministers reviewed their economies,
and public spending, domestic and European Community-wid... | Commodities and Trade |
FED'S HELLER URGES BROAD REFORM TO AID BANKING
| Federal Reserve Board Governor
Robert Heller said the banking system could be strengthened by
permitting formation of financial services holding companies
involved in areas like banking, insurance, real estate and
securities.
In a speech prepared for delivery in New York to the Bank
and Financial Anal... | Market and Economy |
FEDERATED DEPARTMENT STORES INC UPS QTLY DIV BY 10.5 PCT, SETS 2-FOR-1 STOCK SPLIT
|
FEDERATED DEPARTMENT STORES INC UPS QTLY DIV BY 10.5 PCT, SETS 2-FOR-1 STOCK SPLIT
| Other |
GOULD <GLD> SELLS FRENCH BATTERY UNIT
| Gould Inc said it sold its
French Battery unit, Cie Francaise d'Electro Chimie, to a group
of investors including the unit's employees and <GNB Inc> of
Minnesota.
Terms of the sale were not disclosed. The unit had 1986
sales of 65 mln dlrs.
| Industrial and Sector News |
ADVANCED GENETIC SCIENCES <AGSI> YEAR LOSS
| Shr loss 30 cts vs loss 73 cts
Net loss 3,895,267 vs loss 8,250,222
Revs 3,237,235 vs 234,745
Note: 4th qtr data not available
| Financial Reports |
FEDERATED DEPARTMENT <FDS> RAISES QTLY DIVIDEND
| Federated Department Stores Inc said
it raised its quarterly common stock dividend to 74 cts a
share, from 67 cts, an increase of 10.5 pct.
The company said it also approved a two-for-one stock split
in the form of a 100 pct stock dividend.
At the same time, Federated said it will ask shareholders
... | Financial Reports |
DANZAR INVESTMENT <DNZR> SETS SPECIAL DIVIDEND
| Danzar Investment Group Inc said it
received 60 mln shares of <Commonwealth Capital Ltd> in
settlement of a debt and that it will distribute the shares to
its stockholders as a dividend.
Danzar said the dividend will also include 18,750,000
Commonwealth shares it already holds.
The dividend of... | Financial Reports |
FIDELITY <FNF> UNIT ACQUIRES CALIFORNIA CONCERN
| Fidelity National Financial
Inc said its Fidelity National Title Insurance Co subsidiary
acquired the operations of Safeco Title Insurance Co in the
northern California counties of Alameda, Contra Costa and San
Mateo.
Terms of the acquisition were not disclosed.
| Commodities and Trade |
HOME SAVINGS BANK <HMSB> SETS INITIAL DIVIDEND
| Qtly div nine cts
Pay April 30
Record April six
| Market and Economy |
FINAL 1986 CROP U.S. COTTON GINNINGS
| Final 1986 crop U.S. cotton ginnings
totaled 9,438,425 running bales, vs 12,987,834 bales at the end
of the 1985 season and 12,544,866 bales at end-1984 season, the
U.S. Census Bureau said.
The bureau said upland cotton ginnings from the final 1986
crop totaled 9,237,296 bales, vs 12,837,088 bales in 19... | Industrial and Sector News |
AMERICAN BRANDS SEES RECORD FIRST QUARTER RESULTS
|
AMERICAN BRANDS SEES RECORD FIRST QUARTER RESULTS
| Financial Reports |
BP MANAGING DIRECTOR SAYS COMPANY DOES NOT PLAN TO HIKE 70 DLRS STANDARD OFFER
|
BP MANAGING DIRECTOR SAYS COMPANY DOES NOT PLAN TO HIKE 70 DLRS STANDARD OFFER
| Financial Reports |
SECURITY <SPC>, USERS, END MERGER TALKS
| Security Pacific Corp and
<Users Inc>, a credit union data processing concern, said they
have mutually agreed to withdraw from further merger
negotiations.
Users said that since it signed a letter of intent to merge
with Security in November, it has received a strong show of
support for continuing ... | Financial Reports |
ENTERTAINMENT PUBLICATIONS <EPUB> SEES LOSS
| Entertainment Publications
Inc said it expects an after-tax loss of 31 cts a share in its
third quarter from the disposal of three units it closed.
The company said its board approved a plan to discontinue
the operations of three subsidiaries, which are primarily
involved in direct mail marketing.
... | Corporate News |
CHRIS-CRAFT INDUSTRIES INC <CCN> REGULAR PAYOUT
| Chris-Craft Industies Inc said it
declared a regular two pct stock dividend on both its common
stock and class B common stock, which is equal the two pct
stock dividends the company paid for the prior quarter.
The dividends are payable on April 20 to shareholders of
record April six.
| Other |
<PRECAMBRIAN SHIELD RESOURCES LTD> YEAR LOSS
| Shr loss 1.93 dlrs vs profit 16 cts
Net loss 53,412,000 vs profit 4,479,000
Revs 24.8 mln vs 32.7 mln
Note: 1986 shr and net include 51,187,000 dlr writedown on
U.S. operations, uneconomic coal operations and other mineral
properties
| Financial Reports |
DENNISON MANUFACTURING <DSN> TO SELL PAPER UNIT
| Dennison Manufacturing Co
said it has signed a letter of intent to sell its Dunn Paper Co
subsidiary to James River Corp <JR> for an undisclosed amount
of cash, resulting in a first quarter charge against earnings.
The company saiud the loss on the sale may be partly
reduced by contingent payments ov... | Financial Reports |
PILLSBURY <PSY> FILES FOR SECOND BURGER KING MLP
| The Pillsbury Co said it
filed a registration statement with the Securities and Exchange
Commission for the sale of limited partnership interests in a
second master limited partnership of its Burger King unit's
restaurant properties.
Pillsbury said it expects the offering to yield 73-82 mln
dlrs, resu... | Commodities and Trade |
OLD REPUBLIC INT'L CORP <OLDR> HIKES DIVIDEND
| Qtly div 20 cts vs 19-1/2 cts prior
Pay June 20
Record June 5
| Market and Economy |
FED'S HELLER SAYS DOLLAR'S CURRENT LEVEL IS APPROPRIATE
|
FED'S HELLER SAYS DOLLAR'S CURRENT LEVEL IS APPROPRIATE
| Market and Economy |
CARSON PIRIE SCOTT AND CO <CRN> SETS DIVIDEND
| Qtly div 17-1/2 cts vs 17-1/2 cts prior
Pay June 5
Record May 22
| Market and Economy |
BP <BP> DOES NOT PLAN TO HIKE STANDARD <SRD> BID
| British Petroleum Co Plc does not
intend to raise the price of its planned 70 dlr per share offer
for the publicly held 45 pct of Standard Oil Co, BP Managing
Director David Simon said.
"We don't seen this as any progressive bidding game," he
told reporters at a news conference. BP now owns 55 pct of
... | Market and Economy |
MONEY MARKET MUTUAL FUNDS FALL 1.19 BILLION DLRS IN LATEST WEEK, ICI SAYS
|
MONEY MARKET MUTUAL FUNDS FALL 1.19 BILLION DLRS IN LATEST WEEK, ICI SAYS
| Market and Economy |
U.K. MONEY MARKET GIVEN FURTHER 437 MLN STG HELP
| The Bank of England said it had provided the
money market with a further 437 mln stg assistance in the
afternoon session. This brings the Bank's total help so far
today to 461 mln stg and compares with its revised shortage
forecast of 450 mln stg.
The central bank made purchases of bank bills outright
... | Financial Reports |
BP<BP> OFFER RAISES EXPECTATIONS FOR OIL VALUES
| British Petroleum Plc's plan to pay
7.4 billion dlrs for less than half of Standard Oil Co has
signalled higher values in the U.S. oil patch, analysts said.
"I think that BP's bid is a very strong affirmation and
clear signal that they have confidence in the U.S., and they
think the barrel of oil in the... | Financial Reports |
FED'S HELLER SAYS DOLLAR'S LEVEL IS APPROPRIATE
| Federal Reserve Board governor Robert
Heller said that the dollar's current level is appropriate but
declined to comment on widespread market reports of concerted
central bank intervention this week.
"The dollar is stable again... The current level is the
appropriate level," Heller told reporters after ... | Financial Reports |
FALCON CABLE SYSTEMS <FAL> 4TH QTR LOSS
| Shr loss 3.49 dlrs vs loss 15 cts
Net loss 10.8 mln vs loss 459,000
Revs 4,384,000 vs 2,542,000
Year
Shr loss 4.41 dlrs vs loss seven cts
Net loss 13.7 mln vs loss 218,000
Revs 13.9 mln vs 8,864,000
Note: net losses included extraordinary losses of 4,904,000
in 4th qtr vs 2... | Financial Reports |
HOME SAVINGS BANK <HMSB> SETS INITIAL QUARTERLY
| Home Savings Bank said its board
declared an initial quarterly dividend of nine cts per share,
payable April 30, record April Six.
| Financial Reports |
LOUISIANA-PACIFIC <LPX> TO SELL SAWMILL
| Louisiana-Pacific Corp said it
plans to sell its sawmill in Lakeview, Oregon and 18,000 acres
of timberland to Ostrander Construction Co.
The company said the transaciton shoould be finalized in
early April. Terms were not disclosed.
| Financial Reports |
SUBURBAN BANCORP <SUBBA> MERGER APPROVED
| Suburban Bancorp Inc said it
received approval from the Federal Reserve Board to acquire
<Valley National Bank of Aurora> for an undisclosed price.
Suburban said it has received shareholder tenders for 100
pct of Valley National's stock.
| Market and Economy |
UNIVERSAL HOLDING CORP <UHCO> 4TH QTR LOSS
| Shr profit nil vs profit nine cts
Net profit 2,000 vs profit 195,000
Revs 2,623,000 vs 2,577,000
Year
Shr loss 21 cts vs profit 13 cts
Net loss 425,000 vs profit 278,000
Revs 15.4 mln vs 8,637,000
Note: Net includes capital gains of 63,000 vs 211,000 for
qtr and 304,000 vs ... | Financial Reports |
GREASE MONKEY HOLDING CORP <GMHC> YEAR NOV 30
| Shr nil vs nil
Net 130,998 vs 30,732
Revs 1,568,941 vs 1,0053,234
| Market and Economy |
FREEDOM FEDERAL <FRFE> TO RECOGNIZE GAIN
| Freedom Federal Savings Bank
said it will recognize in its first-quarter earnings a
previously deferred 1.5 mln dlr gain which resulted from the
sale of an apartment complex in 1983.
It said the recognition comes as a result of repayment of a
loan which was granted when the complex was sold.
| Market and Economy |
PARIS G-6 MEET SET NO TARGETS - LEIGH-PEMBERTON
| Bank of England Governor Robin
Leigh-Pemberton said the Paris pact agreed between six leading
industrialised nations set no nominal exchange rate targets.
Leigh-Pemberton said in oral evidence to a select committee
that "we did not swap numbers - we reached an understanding" on
how to cooperate towards ... | Corporate News |
COMMERCE CLEARING HOUSE INC <CCLR> HIKES DIV
| Qtly div 32 cts vs 30 cts prior
Pay April 29
Record April 10
| Commodities and Trade |
QUANTECH ELECTRONICS CORP <QANT> 3RD QTR DEC 31
| Shr loss 28 cts vs loss six cts
Net loss 561,029 vs loss 114,712
Revs 3,464,269 vs 4,083,833
Nine mths
Shr loss 56 cts vs loss 13 cts
Net loss 1,104,472 vs loss 261,791
Revs 10.5 mln vs 11.6 mln
NOTE: Prior year net includes losses from discontinued
operations of 99,209 dlr... | Financial Reports |
QUANTECH <QANT> NEEDS ADDITIONAL FUNDS
| Quantech Electronics Corp said
it is investigating available means of raising additional funds
needed to finance continuing operations, but there is no
assurance that it will succeed.
The company said it continues to experience negative cash
flow. Today it reported a loss for the third quarter ended
... | Market and Economy |
PDA ENGINEERING <PDAS> HALTS SOFTWARE SHIPMENTS
| PDA Engineering said it has
temporarily deferred shipmetns of its PATRAN software for IBM
computers, due to a technical problem with the program.
The company said the deferral will reduce its thrid quarter
revenues and earnings.
PDA said it anticipates resuming shipments in the fourth
quarter.
... | Market and Economy |
P AND F INDUSTRIES INC <PFINA> 4TH QTR NET
| Oper shr 16 cts vs 29 cts
Oper net 453,924 vs 726,816
Revs 12.0 mln vs 11.2 mln
Avg shrs 2,695,206 vs 2,562,160
Year
Oper shr 50 cts vs 50 cts
Oper net 1,365,655 vs 1,268,847
Revs 40.1 mln vs 33.1 mln
Avg shrs 2,695,206 vs 2,562,160
NOTE: Net excludes tax credits ... | Market and Economy |
FAIR LANES <FAIR> SHAREHOLDERS APPROVE MERGER
| Fair Lanes Inc said its shareholders
approved the previously announced merger with Maricorp Inc, a
unit of <Northern Pacific Corp>.
Under terms of the merger, Fair Lanes said each of its
shares of common stock will be converted into the right to
receive 1.3043 shares of <BTR Realty Inc>, which is ... | Market and Economy |
ALLIED RESEARCH ASSOCIATES INC <ARAI> YEAR NET
| Shr 63 cts vs 64 cts
Net 2,463,214 vs 2,509,832
Sales 34.4 mln vs 30.6 mln
NOTE: Backlog as of February 28 47.4 mln dlrs vs 34.9 mln
dlrs a year before.
| Market and Economy |
26-FEB-1987
| 26-FEB-1987
| Other |
ACCEPTANCE INSURANCE HOLDINGS INC <ACPT> YEAR
| Oper shr profit 1.80 dlrs vs loss 2.28 dlrs
Oper net profit 2,048,0000 vs loss 1,318,000
Revs 25.4 mln vs 12.3 mln
Avg shrs 1,135,000 vs 576,000
NOTE: Net excludes realized investment gains of 40,000 dlrs
vs 13,000 dlrs.
1986 net excludes 729,000 dlr tax credit.
| Commodities and Trade |
CARDENAS SEES NO MAJOR DECISIONS AT ICO MEETING
| Jorge Cardenas, manager of Colombia's
coffee growers' federation, said he did not believe any
important decisions would emerge from an upcoming meeting of
the International Coffee Organization (ICO).
The ICO executive board is set to meet in London from March
31 and could decide to call a special counci... | Commodities and Trade |
CB AND T <CBTB> TO MAKE ACQUISITION
| CB and T Bancshares Inc said the
board of Carrolton State Bank of Carrolton, Ga., has approved a
merger into CB and T for an undisclosed amount of stock,
subject to approval by regulatory agencies and Carrolton
shareholders.
Carrolton has 26 mln dlrs in assets.
| Financial Reports |
AMERICAN BRANDS <AMB> SEES HIGHER 1ST QTR NET
| American Brands Inc said it expects
first quarter net earnings to exceed the record 118.7 mln dlrs
or 1.05 dlrs a share it earned for the year-ago quarter.
The company also said it believes sales in the first
quarter will surpass record sales of 2.1 billion dlrs last
year.
The company said unit sa... | Market and Economy |
USX <X> SAYS TALKS ENDED WITH BRITISH PETROLEUM
| USX Corp chairman David Roderick said
the company had ended talks with British Petroleum Co Plc <BP>
about the possible sale of some energy assets and said USX has
no immediate restructuring plans for its oil businesses.
"We have terminated our discussions," Roderick told Reuters
after a speech to th... | Corporate News |
NY TRADERS SAY SOVIETS MADE LARGE SUGAR PURCHASE
| The Soviet Union bought almost 90,000
tonnes of raw sugar from international trade houses last night,
with some of the sugar changing hands at discounts to the spot
May world sugar contract, according to trade sources.
They said Japanese trade houses sold up to three cargoes of
Thai sugar for relatively... | Market and Economy |
MARTIN LAWRENCE LIMITED EDITIONS <MLLE> YEAR NET
| Shr 20 cts vs six cts
Net 861,000 vs 266,000
Revs 10.2 mln vs 6,036,000
Note: 4th qtr data not given.
| Financial Reports |
COMMONWEALTH ENERGY SYSTEM <CES> DIVIDEND
| Qtly div 68 cts vs 68 cts in prior qtr
Payable May one
Record April 14
| Other |
MINSTAR INC <MNST> 4TH QTR NET
| Oper shr loss 31 cts vs loss 30 cts
Oper net loss 5,429,000 vs loss 5,216,000
Revs 257.5 mln vs 243.6 mln
Avg shrs 17.5 mln vs 13.5 mln
Year
Oper shr loss eight cts vs profit 28 cts
Oper net loss 1,324,000 vs profit 4,067,000
Revs 989.5 mln vs 747.9 mln
Avg shrs 17.6 ml... | Financial Reports |
TRANSWORLD TRUST <TWT> SETS INITIAL PAY DATE
| Transworld Liquidating Trust said it
will distribute proceeds from the sale of Hilton International
Co to UAL Inc <UAL> to its holders on April 8.
The deal is expected to close March 31, the day trading
ceases in the Liquidating Trust shares.
UAL will pay 632.5 mln dlrs cash, 2,564,000 shares of ... | Commodities and Trade |
ELECTRO-SENSORS INC <ELSE> VOTES EXTRA PAYOUT
| Electro-Sensors Inc said its board
voted an extraordinary cash dividend on its common stock of 10
cts a share payable May 15, record April 30.
The company paid an extraordinary dividend of 10 cts in May
1986.
| Corporate News |
U.S. HOME <UH> SEES BEST FIRST QTR SINCE 1983
| U.S. Home Corp said its first quarter
ending March 31, 1987, will be its most profitable first
quarter since 1983.
The company said in 1983, it recorded a profit of 8,600,000
dlrs for its first quarter. The three following first quarters
resulted in losses of 3,200,000 dlrs, 3,500,000 dlrs and
1,800,0... | Financial Reports |
ROCKEFELLER CENTER PROPERTIES <RCP> UPS PAYOUT
| Rockefeller Center Properties Inc said
it raised its quarterly dividend to 45 cts from 44 cts a share.
The dividend is payable April 27 to shareholders of record
April 7.
| Commodities and Trade |
SANDUSTRY PLASTICS INC <SPI> 4TH QTR NET
| Shr seven cts vs 26 cts
Net 200,000 vs 450,000
Revs 7,291,000 vs 1,177,000
12 mths
Shr 37 cts vs 77 cts
Net 801,000 vs 1,329,000
Revs 26 mln vs 28.6 mln
NOTE: 1985 year includes extraordinary gain of 10 cts per
share.
| Corporate News |
CHINA SWITCHES U.S. WHEAT TO 1987/88 FROM 86/87
| China has switched purchases of U.S.
wheat totaling 60,000 tonnes from the 1986/87 season, which
began June 1, to 1987/88 season delivery, the U.S. Agriculture
Department said.
The department said outstanding wheat sales to China for
the current season amount to 90,000 tonnes and sales for
delivery in... | Financial Reports |
COCOA CHAIRMAN WORKS TOWARDS BUFFER COMPROMISE
| International Cocoa Organization's,
ICCO, council chairman Denis Bra Kanon continued work towards a
compromise plan on how the ICCO buffer stock should buy cocoa,
consumer delegates said.
Consumer delegates said Bra Kanon had not formally
presented the compromise plan to producers and consumers, and
i... | Financial Reports |
FRANCE WILL FIGHT EC FARM PROPOSALS - MINISTER
| French Agricultural Minister
Francois Guillaume warned that France would flatly reject
proposed reforms of the European Community, EC, cereals, sugar
and oilseeds sectors, which he said would disrupt these
markets.
The EC Commission's proposals to shorten the intervention
period and lower monthly prem... | Market and Economy |
FIRST FINANCIAL <FFMC> BUYS CONFIDATA
| First Financial Management Corp said it
acquired Confidata Corp, a unit of <North Ridge Bank>, paying
500,000 dlrs in cash and pledging a guarantee on a 500,000 dlr
Confidata note held by North Ridge.
First Financial, which provides data processing services to
community banks and other financial inst... | Market and Economy |
COMBUSTION ENGINEERING <CSP> UNIT IN BUYOUT
| Combustion Engineering Inc said
its C-E Environmental Systems and Services Inc unit agreed in
principle to acquire <E.C. Jordan and Co>, a privately held
firm based in Portland, Me.
Terms of the acquisition were mot disclosed.
Combustion Engineering said C-E Environmental, which
provides enviro... | Corporate News |
<MARK RESOURCES INC> YEAR LOSS
| Shr not given
Loss 54.9 mln
Revs 27.2 mln
Note: Prior year results not given. 1986 results include
accounts of 89 pct owned <Precambrian Shield Resources Ltd>,
acquired November 5, 1986
| Corporate News |
PEPCO <POM> TWO MTHS FEB 28 NET
| Shr 49 cts vs 57 cts
Net 25.1 mln vs 28.9 mln
Revs 202.8 mln vs 220.9 mln
12 mths
Shr 4.05 dlrs vs 3.66 dlrs
Net 223.9 mln vs 186.4 mln
Revs 1.35 billion vs 1.34 billion
NOTE: Full name Potomac Electric Power Co
1987 year includes extraordinary gain of 21.7 mln, or 46
... | Commodities and Trade |
ITALIAN 1986 GDP UP 2.7 PCT, UNEMPLOYMENT RISES
| Extracts from a report by Italy's Budget
Ministry on the country's economic development in 1986 showed
gross domestic product (GDP) 2.7 pct higher in real terms than
in 1985 but a rise in unemployment.
GDP calculated at 1980 prices rose to 434,682 billion lire
last year from 423,064 billion in 1985. On ... | Financial Reports |
26-MAR-1987
| 26-MAR-1987
| Financial Reports |
FERRUZZI PARIS UNIT SEEN ABSORBING CPC PURCHASE
| Sources close to Italy's <Gruppo
Ferruzzi> said <European Sugar (France)>, a French company
owned by Ferruzzi, would take over control of <CPC Industrial
Division>, the corn wet milling business acquired by the
Italian group earlier this week from CPC International Inc
<CPC>.
The sources t... | Financial Reports |
DECISION INDUSTRIES <DIC> SEES 1ST QTR LOSS
| Decision Industries Corp said it
expects to report an operating loss of 19-24 cts a share for
the first quarter ending March 31 mainly due to lower profit
margins and higher sales and marketing costs.
In the 1st quarter of last year, when the company's quarter
ended Feb 28, 1986, it earned 957,000 dlrs ... | Financial Reports |
LOMAK <LOMK>, STRATA <STRATA> IN MERGER PACT
| Lomak Petroleum Inc and Strata
Corp, based in Columbus, Ohio, jointly said they entered into a
merger agreement for Strata to become a wholly owned subsidiary
of Lomak.
Under the merger's terms, Strata shareholders will receive
5.7 cts per share of Strata common and warrants to buy about
.06 shares of... | Financial Reports |
TRANSFORM LOGIC <TOOG> REVISES RESULTS DOWNWARD
| Transform Logic Corp said it
has revised downward its previously reported fourth quarter and
year, ended October 31, results to reflect compensation expense
for employee stock options.
The company said resolution of this disagreement with its
auditors came as a result of Securities and Exchange Commissi... | Commodities and Trade |
CALIFORNIA MICRO <CAMD>, GRUMMAN <GQ> SET PACT
| California Micro Devices Corp
said it has signed an agreement with Grumman Corp's Tachonics
Corp unit to develop and product gallium arsenide
seminconductor chips.
Under the pact, California Micro Devices will design the
chips and Tachonics will manufacture them.
Initial products to be developed w... | Financial Reports |
N.Y. BUSINESS LOANS FALL 222 MLN DLRS IN MARCH 18 WEEK, FED SAYS
|
N.Y. BUSINESS LOANS FALL 222 MLN DLRS IN MARCH 18 WEEK, FED SAYS
| Financial Reports |
U.S. COMMERCIAL PAPER RISES 35 MLN DLRS IN MARCH 18 WEEK, FED SAYS
|
U.S. COMMERCIAL PAPER RISES 35 MLN DLRS IN MARCH 18 WEEK, FED SAYS
| Financial Reports |
NEW YORK BUSINESS LOANS FALL 222 MLN DLRS
| Commercial and industrial loans on the
books of the 10 major New York banks, excluding acceptances,
fell 222 mln dlrs to 64.05 billion in the week ended March 18,
the Federal Reserve Bank of New York said.
Including acceptances, loans fell 390 mln dlrs to 64.74
billion.
Commercial paper outstandin... | Financial Reports |
N.Y. BANK DISCOUNT BORROWINGS NIL IN WEEK
| The eight major New York City banks
did not borrow from the Federal Reserve in the week ended
Wednesday March 25, a Fed spokesman said.
It was the second half of a two-week bank statement period
that ended on Wednesday. The banks did not borrow in the first
week of the period.
| Financial Reports |
AMERICANTURE <AAIX> BUYS AMERICAN ADVENTURE
| Americanture Inc said it has
purchased American Adventure Inc <GOAQC> for cash, the
assumption of liabilities and the issuance of American
Adventure Inc common and preferred stock to creditors,
shareholders and members.
The acquisition was pursuant of a Chapter 11 reorganization
plan of American Ad... | Corporate News |
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