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Chicago Mercantile Exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 295000 to 305000 head versus 307000 week ago and 311000 a year ago. Cattle slaughter is guesstimated at about 124000 to 128000 head versus 127000 week ago and 126000 a year ago. Reuter | HOG AND CATTLE SLAUGHTER GUESSTIMATES |
Deutsche Babcock AG <DBCG.F> expects profits to rise in the current financial year ending September 9 although the earnings level is still unsatisfactory managing board chairman Helmut Wiehn said. He told a news conference that business during the year had weakened somewhat but was still generally positive. Sales du... | DEUTSCHE BABCOCK SEES HIGHER 1986/87 PROFITS |
Current interest by Soviet charterers in taking Panamax vessels on timecharter mainly from the U.S. To carry grain is seen as the chief factor behind the recent surge in values on the Baltic International Freight Futures Exchange (BIFFEX) dealers said. Futures soared through the 1000 points barrier today for the first ... | SOVIET TIMECHARTERING BOOSTS GRAIN FREIGHT RATES |
Zimbabwes projected coffee output of 13000 tonnes for 1987/88 could be reduced by drought growers said. The main coffee growing areas in eastern Zimbabwe have received little rain since April 1986 and the Coffee Growers Association has begun a survey to assess the effects of the drought a spokesman said. Zimbabwe expor... | DROUGHT MAY REDUCE ZIMBABWE COFFEE OUTPUT -GROWERS |
Turkeys external debt rose to the equivalent of 31.4 billion dlrs at end-1986 from 25.4 billion a year earlier Treasury Under-secretary Yavuz Canevi said. Canevi who gave the figure at a briefing on the Turkish economy arranged for Ankara-based diplomats said the short-term component was 9.6 billion dlrs at end-1986 up... | TURKISH DEBT REACHED 31.4 BILLION DLRS AT END-1986 |
PILLSBURY CO 3RD QTR SHR 56 CTS VS 63 CTS | |
Control Resource Industries Inc said the company estimates 1986 earnings to be between 800000 and 900000 dlrs or 22 to 25 cts per share compared with 852000 dlrs or 33 cts per share during 1985. The company said preliminary estimates of 1986 revenues is 24.5 mln dlrs compared with 7900000 for 1985. The estimated 1986 r... | CONTROL RESOURCE <CRIX> SEES LOWER EARNINGS |
<Pagurian Corp Ltd> said it filed a notice with the Toronto Stock Exchange to buy back up to 10 pct of its publicly held class A non-voting shares over a one-year period starting April three. About 27.9 mln of the companys 47.2 mln class A shares are publicly held at present. Reuter | PAGURIAN TO BUY BACK UP TO 10 PCT OF STOCK |
MEDIQ Inc said its MEDIQ Diagnostic Imaging Partners - I LP has signed a letter of intent to acquire substantially all the assets of American Medical International Incs AMI Diagnostic Services Inc subsidiary for undisclosed terms. The company said AMI Diagnostic operates seven magnetic resonance and mutli-modality diag... | MEDIQ <MED> IN AMERICAN MEDICAL <AMI> UNIT BUY |
Cyclops Corp said its board has been restructured under the terms of the companys merger agreement with <Dixons Group plc> following the British companys acquisition of 54 pct of Cyclops stock. The company said its board is now composed of three Cyclops executives -- Chairman W.H. Knoell President James F. Will and ... | CYCLOPS <CYL>BOARD RESTRUCTURED TO INCLUDE DIXON |
Blockbuster Entertainment Corp said it will sell its investment in Amtech Corp to the company chairman David Cook and president Kenneth Anderson. The company said the sale is taking place because Amtech is not compatible with Blockbusters main line of business will require substaintial additional funding to develop and... | BLOCKBUSTER ENTERTAINMENT <BBEC> SELLING UNIT |
Dome Mines Ltd said it sold seven mln common shares priced at 12 dlrs each to an underwriting group for net proceeds to the company of about 79830000 dlrs after underwriting fees and issue expenses. About 44.0 mln dlrs of the proceeds will be used to repay outstanding bank debt and the balance will be used to strengthe... | DOME MINES <DM> SELLS 7 MLN COMMON SHARES |
Shr 24 cts vs 21 cts Net 9700000 vs 8286000 Revs 120.6 mln vs 115.7 mln Avg shrs 40.0 mln vs 39.9 mln Year Shr 69 cts vs 68 cts Net 27.8 mln vs 27.1 mln Revs 374.9 mln vs 358.8 mln Avg shrs 40.0 mln vs 39.9 mln NOTE: 1986 year net includes charge of 2396000 dlrs or six cts a share for debt redemption Reuter | MANOR CARE INC <MNR> 3RD QTR FEB 28 NET |
Pitney Bowes Inc said Mountain Bell a unit of US West Inc <USW> began a test of a new Pitney Bowes computerized mail processing system. The test has been approved by the U.S. Postal Service the company said. The processing and postage payment system allows faster and less costly mail preparation automated funds tran... | PITNEY BOWES <PBI> TESTS NEW MAIL SERVICE |
Oper shr 11 cts vs 11 cts Oper net 164000 vs 161000 Revs 2598000 vs 2241000 Nine mths Oper shr 28 cts vs 18 cts Oper net 419000 vs 276000 Revs 6983000 vs 5019000 NOTE: Net excludes tax loss carryforwards 11876 dlrs vs 83045 dlrs in quarter and 36684 dlrs vs 144590 dlrs Reuter | ADTEC INC <JAIL> 3RD QTR FEB 28 NET |
Morton Thiokol Inc said it created a joint venture company with the Yokohama Rubber Co Ltd Tokyo Japan to manufacture automotive windshield sealants. It said the company Morton Yokohama Inc will be headquartered in Chicago with manufacturing at Morton Thiokols plant in Ringwood Ill. Full-scale production is scheduled f... | MORTON THIOKOL <MTI> ENTERS JOINT VENTURE |
CANADA JANUARY RETAIL SALES FALL 0.1 PCT AFTER DECEMBER'S 0.9 PCT GAIN - OFFICIAL | |
Bank of Tokyo Curacao Holdings NV is issuing a 120 mln Canadian dlr eurobond due April 27 1994 with an 8-1/2 pct coupon and priced at 101-1/8 pct Bank of Tokyo International Ltd said as lead manager. The bonds guaranteed by Bank of Tokyo Ltd will be issued in denominations of 5000 dlrs and will be listed in Luxembourg.... | BANK OF TOKYO CURACAO ISSUES CANADIAN DOLLAR BOND |
An accord is in sight in Brazils 20-day-old national seamens strike which has seriously delayed exports a union official said. The official speaking from strike headquarters in Rio de Janeiro said up to 30000 of Brazils 40000 seamen were still on strike. He said the others had returned to work over the last week accept... | ACCORD SAID IN SIGHT IN BRAZIL SEAMEN'S STRIKE |
Shr 56 cts vs 63 cts Net 48500000 vs 55400000 Sales 1.53 billion vs 1.46 billion Avg shrs 86.6 mln vs 87.3 mln Nine mths Shr 1.73 dlrs vs 1.79 dlrs Net 150300000 vs 156200000 Sales 4.60 billion vs 4.30 billion Avg shrs 86.7 mln vs 87.3 mln NOTE: 1987 results include gain of 9.7 mln dlrs or 11 cts a share from sale of a... | PILLSBURY CO <PSY> 3RD QTR FEB 28 NET |
Caisse Nationale des Autoroutes is issuing a three billion French franc bond the French bond issuing committee said. The issue will be lead-managed by Caisse Nationale du Credit Agricole Credit Lyonnais and Cie Financiere de Paribas subsidiary Credit du Nord. REUTER | FRENCH CAISSE NATIONALE DES AUTOROUTES ISSUES BOND |
Growth Ventures Inc said it is discontinuing its participation in a Mexican joint venture formed to make flexible diskettes and is liquidating its wholly-owned Rock Hohl Interiors Inc subsidiary in Colorado Springs Colo. The company said the resulting losses lack of assets and negative net worth will in all likelihood ... | GROWTH VENTURES <GVENC> DROPS UNITS |
JIM WALTER CORP 2ND QTR SHR 86 CTS VS 62 CTS | |
Colombia will not attend a meeting of coffee producing countries scheduled for this weekend in Nicaragua Jorge Cadenas manager of the National Coffee Growers Federation said. We prefer to wait until things are better prepared he told Reuters. He added the meeting could be postponed. Colombia Brazil and the Central Amer... | COLOMBIA WILL NOT ATTEND MANAGUA COFFEE MEETING |
Sterling Drug Inc said it submitted a new drug application to the Food and Drug Administration for permission to market an oral form of Corotrope (milrinone) a drug for treating chronic congestive heart failure. Sterling said the application includes a series of studies of 952 patients and results of three multicenter ... | STERLING <STY> SEEKS FDA APPROVAL FOR MILRINONE |
Preliminary talks are on between two state-owned Philippine banks and Soviet metal trading and equipment sales company Tsvetmetpromexport on rescuing Nonoc Mining and Industrial Corp (NMIC) which operates the Philippines only nickel refinery a Soviet official said. G.I. Valentchits Deputy Trade Minister at the Soviet e... | SOVIET FIRM SAYS TALKS ON FOR PHILIPPINE MINE |
S/P DOWNGRADES BETHLEHEM STEEL CORP'S ONE BILLION DLRS OF DEBT | |
Shr 86 cts vs 62 cts Shr diluted 86 cts vs 59 cts Net 28.0 mln vs 18.3 mln Revs 513.5 mln vs 517.0 mln First half Shr 2.03 dlrs vs 1.78 dlrs Shr diluted 2.03 dlrs vs 1.61 dlrs Net 65.9 mln vs 50.0 mln Revs 1.11 billion vs 1.08 billion Avg shrs 32.4 mln vs 28.1 mln Avg shrs diluted 32.4 mln vs 32.4 mln NOTE: 1987 net in... | JIM WALTER CORP <JWC> 2ND QTR FEB 28 NET |
Canadas retail sales seasonally adjusted fell 0.1 pct in January after gaining 0.9 pct in December Statistics Canada said. Retail sales fell to 11.98 billion dlrs from 11.99 billion dlrs in December 1986. Unadjusted sales were 6.9 pct higher than in January 1986. In January automobile sales fell 1.9 pct department stor... | CANADA RETAIL SALES FALL 0.1 PCT IN JANUARY |
Scan-Graphics Inc said it will be acquired by Captive Venture Capital Inc a public company in a stock transaction approved by shareholders of both companies. As a result of the merger the former shareholders of Scan-Graphics will become the majority shareholders of Captive Venture Capital. The name of the corporation w... | SCAN-GRAPHICS TO MERGE WITH PUBLIC COMPANY |
<TelWatch Inc> said it named James Edwards former senior vice president of American Telephone and Telegraph its president and chief executive officer. Reuter | TELWATCH NAMES FORMER ATT <T> EXEC AS PRESIDENT |
Qtly div 76 cts vs 76 cts prior qtr Pay 15 May Record 30 April Reuter | WISCONSIN POWER AND LIGHT CO <WPL>VOTES PAYOUT |
Shr 19 cts vs 18 cts Net 835000 vs 794000 Sales 23.9 mln vs 20.5 mln Nine mths Shr 47 cts vs 91 cts Net 2104000 vs 3489000 Sales 74.5 mln vs 65.2 mln Avg shrs 4450675 vs 3822894 Reuter | GOODMARK FOODS INC <GDMK> 2ND QTR FEB 22 NET |
American Electric Power Cos Indiana and Michigan Electric Co said on June One it will redeem 64 mln dlrs principal amount of its 80 mln dlrs of 11-3/8 pct first mortgage bonds due 1990 at par. Reuter | AMERICAN ELECTRIC <AEP> UNIT TO REDEEM DEBT |
The U.S. trade deficit with Taiwan and Korea is expected to widen this year despite some economic and currency adjustments by the two newly industrialized countries economists said. The surpluses that Taiwan and Korea ran with the U.S. in 1986 will get bigger. This time next year the U.S. will be screaming at those cou... | ECONOMIC SPOTLIGHT - U.S. DEFICIT WITH NICs |
Xerox Corps U.K. unit Rank Xerox Ltd said it agreed in principle to sell its South African company Rank Xerox South Africa Pty Ltd to <Altron Groups> Fintech unit. Terms of the deal were not disclosed. Altron said the acquisition was key to making Fintech an office systems company. The South African Rank Xerox unit ... | RANK XEROX <XRX> TO SELL SOUTH AFRICAN UNIT |
Anthony R. Martin-Trigona said he plans to announce shareholder action against CBS Inc Chairman Larry Tisch tomorrow. Martin-Trigona a self-described public interest lawyer announced March 6 he is a candidate for the Democratic Partys presidential nomination in 1988. He said he has been a CBS stockholder since 1969. Ma... | CBS <CBS> SHAREHOLDER SETS CHALLENGE OF CHAIRMAN |
Genex Corp said Gary Frashier was elected its president and chief executive officer effective April 1. The company said he replaces Leslie Glick. Frashier is currently chairman and chief executive officer of Continental Water Systems Corp a wholly-owned subsidiary of Olin Corp <OLN>. Reuter | GENEX <GNEX> NAMES NEW PRESIDENT AND CHIEF EXEC |
Feb 28 end Shr 44 cts vs 16 cts Shr diluted 37 cts vs 16 cts Net 5378000 vs 1987000 Revs 26.8 mln vs 14.6 mln Avg shrs 12.4 mln vs 12.1 mln Shr 1.26 dlrs vs 45 cts Shr diluted 1.10 dlrs vs 45 cts Net 15.5 mln vs 5401000 Revs 80.3 mln vs 46.4 mln NOTE: Share adjusted for stock dividends declared through today. Reuter | COUNTRYWIDE CREDIT INDUSTRIES INC <CCR> 4TH QTR |
Canon USA Inc wholly owned by Canon Inc of Japan is issuing a 10 mln dlr floating rate note (FRN) due December 4 1989 paying 0.18 pct over six-month London Interbank Offered Rate (LIBOR) and priced at 100-3/8 Yamaichi International (Europe) Ltd said as lead manager. Fees for the issue total 13/32 and payment date is Ma... | CANON USA ISSUES 10 MLN DLR FRN PRIVATE PLACEMENT |
Countrywide Credit Industries Inc said its board declared an eight ct per share quarterly dividend up from seven cts last quarter and a two pct stock dividend. The cash dividend is payable April 14 to holders of record March 30 and the stock dividend is payable April 17 to holders of record March 31. Reuter | COUNTRYWIDE CREDIT <CCR> SETS HIGHER DIVIDEND |
Standard and Poors Corp said it downgraded Bethlehem Steel Corps debt securities. Bethlehem has one billion dlrs of debt and preferred stock outstanding. Cut were its senior debt to CCC-plus from B-minus and subordinated debt to CCC-minus from CCC. S and P affirmed the C-rated preferred since preferred dividends were d... | BETHLEHEM STEEL <BS> DEBT DOWNGRADED BY S/P |
Madagascars available coffee output is estimated at 80725 tonnes this year down from 82210 in 1986 due to a rundown of government agricultural services and the poor state of feeder roads in rural areas Agriculture Ministry sources said. This is after accounting for the loss of some 15000 to 20000 tonnes due to the tran... | MADAGASCAR COFFEE PRODUCTION SEEN LOWER IN 1987 |
Philips Medical Systems Inc a unit of (North American Philips Corp) said a research program is underway at seven medical centers aimed at producing a new standard of three-dimensional medical imaging systems. The goal is to provide doctors with quicker and better diagnostic information about human organs. Current syste... | PHILIPS MEDICAL SETS RESEARCH PROGRAM |
Federal Paper Board Co Inc said it has filed for an offering of 140 mln dlrs of cumulative convertible preferred stock or 2800000 shares with a liquidation preference of 50 dlrs each through underwriters First Boston Inc <FBC> Morgan Stanley Group Inc <MS> and PaineWebber Group Inc <PWJ>. The company said it w... | FEDERAL PAPER BOARD <FBO> TO SELL PREFERRED |
Qtly div nine cts vs eight cts prior qtr Pay 20 April Record 3 April Reuter | EXCEL INDUSTRIES INC <EXC> BOOSTS DIVIDEND |
Knowledge Data Systems Inc said it named John Kerr chairman of the company and named its former chairman Jon Jacoby vice chairman. The company said Kerr was formerly president and co-founder of <Mediflex Systems Corp> and Jacoby is also its chief financial officer. Reuter | KNOWLEDGE DATA SYSTEMS <KDSI> NAMES CHAIRMAN |
Qtly div 25 cts vs 25 cts prior qtr Payable 10 June Record 15 May Reuter | BAKER, FENTRESS AND CO <BKFR> VOTES DIVIDEND |
Amcast Industrial Corp said it completed the sale of its Newman Division to Newman Manufacturing Inc a new company formed by Newmans employees. The sale price was not disclosed. Amcast said Newmans Kendallville Indiana plant is one of the countrys largest producers of gray iron castings for the automotive and commercia... | AMCAST <ACST> COMPLETES SALE OF NEWMAN DIVISION |
Energy Secretary John Herrington said he would rule out a tax on gasoline as one option to help avert what his departmet has called the threat of increased reliance on foreign oil in the coming years. He said at a news conference that any recommendation he would make would have to increase domestic production not cause... | U.S. ENERGY SECRETARY RULES OUT GASOLINE TAX |
Land damaged by wind in the 10-state Great Plains amount to nearly 3.7 mln acres so far this year one-third more than the 1970-84 average and 300000 acres more than the amount reported at this time last year the U.S. Agriculture Department said. In addition to the land reported damaged another 15 mln acres are unprotec... | WIND DAMAGES CONTINUES IN GREAT PLAINS--USDA |
U.S. ENERGY CHIEF RULES OUT GASOLINE TAX AS WAY TO AVERT PENDING OIL CRISIS | |
North Carolina Savings and Loan Association elected J. Graham Harwood its chairman and R. Martin Hall its president and chief operating officer. The company said the chairmans post has been vacant two and a half years. It also said Harwood who was president would retain his chief executive officers position. Reuter | N.C. FEDERAL SAVINGS <NCFS> ELECTS OFFICERS |
The U.S. Agriculture Department is proposing tighter federal standards setting allowable limits on insect infestations in grain shipments. The changes in the standards would include the following: -- Establishing equal tolerances for the number of live insects in shipments of food grains feed grains and oilseeds. -- Re... | USDA ASKS TIGHT INSECT RULES FOR GRAIN SHIPMENTS |
Pillsbury Corp reporting lower earnings for the third quarter ended February 28 said a strong performance by its Foods Group was offset by Restaurants Group declines. Excluding unusual items it said restaurants operating profit was down in the quarter 12 pct from a year ago as sales rose four pct. It said Burger King U... | PILLSBURY <PSY> HURT BY RESTAURANT OPERATIONS |
Texas Eastern Corp <TET> said an initial public offering of 12.5 mln units of its master limited partnership Petrolane Partners LP is under way at 20.50 dlrs each. Petrolane will own and operate Texas Easterns domestic liquefied petroleum gas distribution business. Texas Eastern said it will retain a 45 pct interest... | PETROLANE PARTNERS <LPG> UNITS OFFERED |
Shr 26 cts vs 21 cts Net 5553000 vs 4307000 Revs 45.1 mln vs 34.2 mln Year Shr 86 cts vs 67 cts Net 18.2 mln vs 14.0 mln Revs 161.1 mln vs 118.3 mln NOTE: Share adjusted for stock dividends. Reuter | AGENCY RENT-A-CAR INC <AGNC> 4TH QTR JAN 31 NET |
Agency Rent-A-Car Inc said its board declared a five pct stock dividend payable May 22 to holders of record on May 8. The company also said it plans to increase the size of its rental fleet in the year ending January 31 by 20 to 25 pct and expand its rental office network. Reuter | AGENCY RENT-A-CAR <AGNC> SETS STOCK DIVIDEND |
The Federal Reserve is expected to refrain from reserve-management intervention in the U.S. Government securities market economists said. If the Fed does act however they said it would be likely to add temporary reserves indirectly by arranging around 1.5 billion dlrs of customer repurchase agreements. Federal funds wh... | FED EXPECTED TO TAKE NO MONEY MARKET ACTION |
The Agricultural Stabilization and Conservation Service (ASCS) is seeking offers to process rough rice owned by the Commodity Credit Corporation (CCC) and deliver about 27.0 mln pounds of milled rice for export shipment May 6-20 and May 21-June 5 an ASCS spokesman said. Offers must be received by 1300 CDT April 7 and s... | ASCS SEEKS OFFERS TO PROCESS CCC ROUGH RICE |
European Community (EC) industry ministers today declared there is a need for a massive round of closures of steel plants to bring capacity in the 12-country bloc into reasonable balance with demand. The ministers were meeting to discuss a plan for voluntary plant closures drawn up by the industry lobby group Eurofer w... | EC MINISTERS AGREE NEED FOR BIG STEEL CLOSURES |
American Electric Power Cos Ohio Power Co subsidiary said that on June 1 it will redeem 40000 of its 177760 shares of Series A 14 pct cumulative preferred shares at par value of 100 dlrs per share. Reuter | AMERICAN ELECTRIC <AEP> UNIT TO REDEEM PREFERRED |
Repligen Corp said it intends to file an investigational new drug application to the Food and Drug Administration seeking permission to test its AIDS vaccine in humans by the early summer. Repligen said the human tests could begin by the end of the year. We are sufficiently encouraged and impressed by the work to date ... | REPLIGEN <RGEN> TO SEEK AIDS VACCINE TESTING |
Gandalf Technologies Inc said it introduced two new products one of which allows its private automatic computer exchange networking systems to connect directly to Digital Equipment Corp <DEC>s Unibus-equipped computers. The company said its new VGS 2518 communications gateway server provides a high capacity pathway ... | GANDALF <GANDF> INTRODUCES NEW PRODUCTS |
Parlex Corp said it named Robert Cyr to its newly-created post of chief operating officer. Cyr 44 has been the companys senior vice president the company said. Reuter | PARLEX <PRLX> APPOINTS CHIEF OPERATING OFFICER |
Murgold Resources Inc said assays received from 320 feet of drifting on the number-three vein at the Chester Township property south of Timmins Ontario indicate an average of 0.528 ounce of gold per ton across an average width of five feet for the 320-foot length. The last working face assayed 0.422 ounce of gold per t... | MURGOLD RESOURCES <MGDVF> DETAILS ASSAYS |
Qtly div 17.5 cts vs 17.5 cts in prior qtr Payable April 15 Record March 31 (Company corrects amount of previous payment in MARCH 18 item to show there was no change) Reuter | (CORRECTED) - FEDERAL PAPER BOARD CO <FBO> PAYOUT |
Aluminum Co of America said it has signed a letter of intent to sell its American Powdered Metals Co subsidiary to R.W. Technology Inc for undisclosed terms with completion expected in early May. American Powdered makes metal parts for various industries. Reuter | ALCOA <AA> TO SELL AMERICAN POWDERED METALS |
The National Association of Accountants said it has a set of guidelines to account for costs from internal use of computers. The Association said Statement No. 4F written by the Management Accounting Practices Committee advises that users generally should be charged for services furnished by an information system. The ... | ACCOUNTING GROUP SETS COMPUTER COST GUIDELINES |
Banca del Monte di Parma said it will issue up to 20 mln dlrs of euro-certificates of deposit on the euromarket. Samuel Montagu of London would be dealer for the programme while Euromobiliare Ltd would be involved in placing the certificates with institutional investors the bank said. Maturities on the certificates wil... | BANCA MONTE DI PARMA ISSUING EUROCERTIFICATES |
The water supply outlook for most of the Western U.S. states this summer looks dim the U.S. Agriculture Department said. Snowpack and precipitation were well below normal throughout much of the West as of last week. Eight of the 12 states in which the department collects data reported snowpack and precipitation at thre... | WESTERN WATER SUPPLIES MAY BE PROBLEM - USDA |
Applied DNA Systems Inc said Kenneth Blackman was named vice president and chief operating officer and its chairman Donald Bachmann was named to the additional post of chief executive officer. The company said the company position of president will be left vacant with the retirement of Maurice Sussman who was also the ... | APPLIED DNA SYSTEMS <ADNA> NAMES NEW OFFICERS |
Colonial Municipal Income Trust said an initial public offering of 26 mln shares is under way at 10 dlrs each through underwriters led by Morgan Keegan Inc <MOR> Bateman Eichler Hill Richards Inc and Piper Jaffray and Hopwood Inc. Underwriters have been granted an option to purchase up to 3900000 more shares to cove... | COLONIAL MUNICIPAL INITIAL OFFERING STARTS |
Britoil Plcs <BTOL.L> exploration expenditure for the U.K. In 1987 was likely to be only about a third of the level in 1986 though overseas expenditure would remain approximately the same Chief executive David Walker said. He told reporters following the release of the companys 1986 figures that project expenditure ... | BRITOIL SEES LOWER U.K. EXPLORATION EXPENDITURE |
GTE Corp is raising 250 mln dlrs through an offering of debentures due 2017 yielding 8.737 pct said sole underwriter UBS Securities Inc. UBS the U.S. unit of Union Bank of Switzerland won the issue in competitive bidding against syndicates led by such major U.S. houses as First Boston and Morgan Stanley. UBS has become... | GTE <GTE> SELLS DEBENTURES YIELDING 8.737 PCT |
Irans budget for the fiscal year starting on Saturday forecasts revenue of 50.3 billion dlrs a 15 pct increase from this year figures published by the Iranian news agency IRNA show. IRNA quoting figures supplied by the head of the Majlis (parliament) budget and planning committee said spending for the war with Iraq was... | IRANIAN PARLIAMENT APPROVES ENLARGED BUDGET |
The U.K. Government tomorrow will release the first of its Retail Price Index (RPI) figures calculated on a revised group of components and rebased on January 1987 as previously announced the Employment Department said. The index Britains measure of inflation is for February. Earlier data will not be revised as there a... | U.K. REVISES RETAIL PRICE INDEX FROM FEBRUARY |
<Mr. Jax Fashions Inc> said it agreed to sell 600000 common shares to Pemberton Houston Willoughby Bell Gouinlock Inc and Dominion Securities Inc which the buyers will offer at 13-5/8 dlrs per share to institutional investors. Closing is expected on April 30 subject to completion of necessary regulatory filings. Mr.... | MR. JAX FASHIONS IN PRIVATE PLACEMENT |
Racal Electronics Plc <RCAL.L> announced the formation of a new company <Racal-Guardata Inc.> of Orange County California as well as a co-operative marketing agreement between the new company and <General Electric Information Services Company> of the U.S. Racal said the new company a part of the Racal-Chubb da... | RACAL ANNOUNCES U.S. UNIT AND MARKETING AGREEMENT |
Guinness Plc <GUIN.L> said its board had agreed to put an extraordinary motion at the groups annual meeting to remove former chairman Ernest Saunders and non-executive Thomas Ward as directors. The meeting will be held on May 27. Saunders resigned as chairman and chief executive in January following the start of a T... | GUINNESS BOARD SEEKS REMOVAL OF SAUNDERS, WARD |
Lead underwriter Muller and Co Inc said an initial public offering of 500000 units of <Advanced Marketing Technology Corp> is under way at eight dlrs a unit. Each unit consists of four common shares and one Class A warrant allowing the purchase of one common share and one Class B warrant from March 25 1987 until Mar... | ADVANCED MARKETING INITIAL OFFER UNDER WAY |
<Domtar Inc> said it filed a preliminary prospectus for an issue of 100 mln dlrs of 10 pct debentures to be offered at 99-3/4 to yield 10.03 pct and to mature April 15 2011. Underwriters are Levesque Beaubien Inc Wood Gundy Inc Burns Fry Ltd and Nesbitt Thomson Deacon Ltd. Reuter | DOMTAR TO ISSUE 100 MLN DLRS OF DEBENTURES |
Blinder International Enterprises Inc said it will loan four mln dlrs to Cattle Baron Inc a subsidiary of Source Venture Capital <SOR>. The loan will be used to contruct the Cattle Baron casino and restaurant to be located in Henderson Nev. the company said. Reuter | BLINDER INTERNATIONAL <BINLC> LOANS 4 MLN DLRS |
ended January 31 Shr nil vs nil Net profit 351000 vs loss 243000 Sales 7050000 vs 7012000 Avg shrs 106780000 vs 93666000 Six mths Shr loss one ct vs loss one ct Net loss 999000 vs loss 563000 Sales 10.6 mln vs 13.0 mln Avg shrs 106641000 vs 92986000 Reuter | SAND TECHNOLOGY SYSTEMS <SNDCF> 2ND QTR NET |
Ryans Family Steak Houses Inc said its board declared a three-for-one stock split payable May 20 to holders of record May 6. The company said the split is subject to shareholder approval of an increase in authorized shares to 100 mln from 20 mln at the April 22 annual meeting. Reuter | RYAN'S FAMILY STEAK HOUSE <RYAN> SETS SPLIT |
William Bradt new chairman of the New York Mercantile Exchange NYMEX said his priorities are to merge the exchange with other futures exchanges at the World Trade Center and to reallocate space on the crowded NYMEX floor. Bradt a local trader and member of the board of governors assumed his duties yesterday and met rep... | NEW NYMEX CHAIRMAN BRADT SETS MERGER PRIORITIES |
Duff and Phelps said it lowered its ratings assigned to Minnesota Power and Light Cos fixed income securities covering about 442 mln dlrs in debt. The first mortgage bonds were lowered to D/P-7 (low single A) from D/P-4 (low double A) and the preferred stock to D/P-8 (high triple B) from D/P-5 (high single A) it said. ... | D/P LOWERS MINNESOTA POWER <MPL> DEBT RATING |
French official reserves 388.68 billion francs at end Feb vs 375.95 billion end Jan | |
Inertia Dynamics Corp said it declared a 50 pct stock dividend payable May 1 to shareholders of record April 3. Reuter | INERTIA DYNAMICS <TRIM> TO PAY STOCK DIVIDEND |
Shr one ct vs 21 cts Net 24000 vs 612000 Sales 2061000 vs 3914000 1st half Shr eight cts vs 43 cts Net 223000 vs 1220000 Sales 4584000 vs 7912000 Reuter | CSP INC <CSPI> 2ND QTR FEB 28 NET |
Shr profit eight cts vs loss 23 cts Net profit 251000 vs loss 731000 Revs 29.1 mln vs 25.9 mln Backlog 18.9 mln vs 12.5 mln Reuter | PUBLISHERS EQUIPMENT CORP <PECN> YEAR NET |
Shr 10 cts vs 14 cts Net 191465 vs 193799 Sales 7160945 vs 6576670 Avg shrs 2000565 vs 1400000 Year Oper shr 33 cts vs 50 cts Oper net 605725 vs 694785 Sales 23.3 mln vs 22.1 mln Avg shrs 1840692 vs 1400000 NOTE: 1985 year net excludes 30000 dlr tax credit. Reuter | CAVALIER HOMES INC <CAVH> 4TH QTR NET |
Shr not given Oper net profit 405914 vs loss 145380 Revs 2446901 vs 1295187 Year Shr not given Oper net profit 1211465 vs loss 178101 Revs 9085222 vs 4995735 NOTE: Earnings from 1983 on benefit preferred shareholders until preferred shareholders equity equals or exceeds liquidating and mandatory redemption values. Reut... | COLONIAL COMMERCIAL CORP <CCOM> 4TH QTR NET |
Alcatel Cit <ALCP.PA> the newly established French subsidiary of Alcatel NV which now runs the worldwide telecommunications activities of ITT Corp <ITT.N> has won a 15 mln franc contract from the Swedish armed forces for transmission equipment Alcatel said in a communique here. The order is for multiplexing equip... | ALCATEL CIT WINS SWEDISH MILITARY CONTRACT |
The stock of Pacific Telesis Group rose 1/2 to 54-1/8 in active trading after analyst Charles Schelke of Smith Barney upgraded a recommendation on the stock to buy from accumulate traders said. Schelke was unavailable for comment. Traders familiar with the opinion said the recommendation noted that a possible operating... | PACIFIC TELESIS <PAC> UP ON SMITH BARNEY OPINION |
Panama Canal toll charges will not rise in the year to end-September 1988 despite last Octobers landslide which dumped 0.5 mln cubic yards of debris into the waterway Canal Commission Administrator Dennis McAuliffe said. He told a press conference that in confirming the Commissions earlier announcement of unchanged tol... | PANAMA CANAL OFFICIAL CONFIRMS NO 1988 TOLL RISE |
MOODY'S DOWNGRADES MERRILL LYNCH AND CO INC ISSUES, AFFECTING SIX BILLION DLRS | |
Tele-Art Inc said its class A warrants which were due to expire March 19 have been extended to April 18. Tele-Art designs and manufactures digital watches and clocks. Reuter | TELE-ART <TLARF> EXTENDS WARRANTS |
Richardson Electronics Ltd said it agreed to buy for undisclosed terms G.E.B. Giant Electronics Brand a Florence Italy-based distributor of electron tubes and semiconductors. Reuter | RICHARDSON <RELL>TO BUY ITALIAN SEMICONDUCTOR FIRM |
Federal regulators said Boyd Jefferies who resigned as head of his Los Angeles brokerage firm took part in schemes to manipulate the price of a stock and in a stock parking plot with inside trader Ivan Boesky. In a civil complaint filed in U.S. District Court in New York the Securities and Exchange Commission said Jeff... | SEC DETAILS CHARGES AGAINST JEFFERIES |
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