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Council of Economic Advisers Chairman Beryl Sprinkel called on Latin American governments to adopt sounder economic policies and said U.S. banks loans to those countries had already been written down in an economic sense. Latin governments will have to adopt policies that promote growth for their own citizens he said a... | LATIN POLICY ADJUSTMENT URGED BY CEA'S SPRINKEL |
Transamerica Corp said its board authorized the repurchase of up to 2.2 mln shares of its outstanding stock in addition to the 1.5 mln shares previously authorized. The company has 72.7 mln shares outstanding. It said the reacquired 2.2 mln shares will be used to meet excercise requirements for its stock options plans ... | TRANSAMERICA <TA> BOARD TO BUY OWN STOCK |
Industrial and financial groups will be allowed to take a share in stockbrokers capital when Paris Bourse regulations are liberalized beginning next year Stockbrokers Association chairman Xavier Dupont told a news conference. Finance Minister Edouard Balladur announced on March 10 that the monopoly of French stockbroke... | PARIS BOURSE LIBERALIZATION NOT LIMITED TO BANKS |
Shr loss 4.95 dlrs vs loss 75 cts Net loss 48.2 mln vs loss 4644000 Revs 133.4 mln vs 135.6 mln 12 mths Shr loss 6.28 dlrs vs profit 2.48 dlrs Net loss 67.6 mln vs profit 25.7 mln Revs 638.9 mln vs 573.1 mln Avg shrs 10771260 vs 10355728 Reuter | SEA CONTAINERS LTD <SCR> 4TH QTR LOSS |
Mexicos 7.7 billion dlr loan package will be signed in New York tomorrow amid increasing calls from both creditors and debtors for a streamlining of the tortuous process of raising such jumbo loans bankers said. Pressure for change has mounted because the Mexican deal has been even more difficult to syndicate than bank... | MEXICO TO SIGN LOAN AMID CALLS FOR CHANGE |
This weekends meeting of Latin American coffee producers here will call for the International Coffee Organisation (ICO) to start talks aimed at firming prices Nicaraguan foreign trade minister Alejandro Martinez Cuenca said. He said those countries which had confirmed their presence were Brazil Mexico Guatemala El Salv... | LATIN COFFEE PRODUCERS SEEK ICO PRICE SUPPORT |
Ambassador Financial Group Inc said its Ambassador Real Estate Equities Corp agreed to buy Heritage Quality Construction Co Inc. Ambassador said its unit would purchase 100 pct of Heritages stock for an initial payment of approximately 500000 dlrs and subsequent payments in cash over a five-year period equal to 50 pct ... | AMBASSADOR FINANCIAL <AFGI> UNIT TO BUY BUILDER |
Transco Exploration Partners Ltd said participation in 14 new discoveries increased its proved gas reserves to 558.1 billion cubic feet in 1986 up from 541.5 billion cubic feet in the previous year. Proved reserves of liquids remained about the same at 25.1 mln barrels the company said in the 1986 annual just released ... | TRANSCO PARTNERSHIP <TXP> GAS RESERVES RISE |
Pacificorp is offering 500 shares each of series A and series B Dutch Auction Rate Transferable Securities or DARTS said underwriting group co-managers Salomon Bros Inc and Goldman Sachs and Co. Each share has a liquidation preference of 100000 dlrs a share. The stock is being offered pursuant to a shelf registration s... | PACIFICORP <PPW> OFFERING OF DARTS UNDER WAY |
ended January 31 Shr profit two cts vs loss one ct Net profit 130000 vs loss 46000 Sales 5042000 vs nil Note: 1987 includes gain of 112000 dlrs from sale. Reuter | <ROYAL GOLD AND SILVER CORP> 1ST QTR NET |
L. Luria and Son INc said it reached an agreement in principle to be the exclusive supplier of merchandise to be sold through a new game and home shopping television show being considered by a major television network. The company declined to elaborate beyond this statement. It said the arrangement is subject to a form... | L. LURIA <LUR> TO SUPPLY NETWORK PROGRAM |
Western Financial Auto Loans 2 a unit of Westcorps Western Financial Savings Bank subsidiary is offering 125 mln dlrs of bonds that are collateralized by car loan receivables said sole underwriter Drexel Burnham. A Drexel officer said that while todays issue is asset-backed the debt is a bond not a pass-through certifi... | WESTCORP <WCRP> UNIT SELLS CAR LOAN BACKED BONDS |
Qtrly div 30 cts vs 30 cts prior Pay April 30 Record April 3 Reuter | JP STEVENS AND CO INC <STN> SETS PAYOUT |
venezuela approved plans to start negotiating foreign bond issues up to 400 mln dlrs in the dollar deutschmark and yen markets finance minister manuel azpurua said after an economic cabinet meeting. He also said the the cabinet approved negotiations with foreign bank creditors to refinance 300 mln dlrs in banco de los ... | VENEZUELA APPROVES PLANS TO ISSUE NEW BONDS |
Budget Rent a Car Corp said it intends to file a registration for an initial public offering of common shares. It said the offering would solely be comprised of new stock issued by the company. Budget was acquired on September 30 1986 from Transamerica Corp <TA> by an investor group led by Gibbons Green van Ameronge... | BUDGET RENT A CAR TO FILE INITIAL OFFERING |
The OPEC Fund for International Development approved 100000 dlrs in aid for Ecuador which was struck recently by an earthquake. The Fund which was set up by the 13 OPEC (Organization of Petroleum Exporting Countries) member states to help Third World development said in a statement the money would be used to provide me... | OPEC FUND APPROVES 100,000 DLR AID FOR ECUADOR |
AMEX SHORT INTEREST UP 1,359,223 SHARES IN MID-FEBRUARY PERIOD | |
Chrysler Corp said it scheduled six of its seven U.S. car and truck assembly plants to operate the week of March 23 with four on overtime. The company also said it scheduled two of its U.S. assembly plans to operate Saturday March 21. As previously reported the Belvidere (Ill.) assembly plant is not scheduled to operat... | CHRYSLER <C> TO RUN FOUR PLANTS ON OVERTIME |
N.Y. BUSINESS LOANS FALL 572 MLN DLRS IN MARCH 11 WEEK, FED SAYS | |
U.S. COMMERCIAL PAPER RISES 2.98 BILLION DLRS IN MARCH 11 WEEK, FED SAYS | |
Commercial and industrial loans on the books of the 10 major New York banks excluding acceptances fell 572 mln dlrs to 64.297 billion in the week ended March 11 the Federal Reserve Bank of New York said. Including acceptances loans fell 475 mln dlrs to 65.16 billion. Commercial paper outstanding nationally increased 2.... | NEW YORK BUSINESS LOANS DROP 572 MLN DLRS |
NYSE SHORT INTEREST UP 11,203,287 SHARES FOR MONTH ENDED MARCH 15 | |
Amoco Corps petroleum liquids reserves total 2.42 billion barrels at the end of 1986 down from 2.77 billion a year earlier but its natural gas reserves increased to 15.37 trillion cubic feet from 15.14 trillion the companys annual report said. It said the drop in crude oil and natural gas liquid reserves reflected down... | AMOCO <AN> OIL RESERVES DOWN, GAS UP IN 1986 |
Caisse de depot et placement du Quebec the government agency which manages the provinces pension funds said its investment portfolio earned a net profit of almost three billion Canadian dlrs in 1986 an increase of 300 mln dlrs over 1985. The agency said in its annual statement that it had assets with a total book value... | QUEBEC CAISSE EARNS THREE BILLION DLRS IN 1986 |
U.S. M-1 MONEY SUPPLY RISES 500 MLN DLRS IN MARCH 9 WEEK, FED SAYS | |
U.S. BANK DISCOUNT BORROWINGS AVERAGE 228 MLN DLRS A DAY IN MARCH 18 WEEK, FED SAYS | |
Asea Group the diversified industrial concern based in Vasteras Sweden said it expects 1987 earnings after financial income and expense to be flat compared with 1986 when it earned 2.53 billion Swedish crowns or 371.1 mln dlrs. A company spokesman said 1986 results were boosted significantly by the booking of two large... | ASEA GROUP <ASEAY> SEES FLAT 1987 EARNINGS |
U.S. bank discount window borrowings less extended credits averaged 228 mln dlrs in the week to Wednesday March 18 the Federal Reserve said. Total borrowings in the week rose 83 mln dlrs to 502 mln dlrs with extended credits up three mln dlrs at 274 mln dlrs. The week was the first half of a two-week statement period. ... | U.S. BANK DISCOUNT BORROWINGS 228 MLN DLRS |
U.K. Chancellor of the Exchequer Nigel today repeated that he was satisfied with the current level of sterling both against the dollar and the West German mark. Lawson said in a television interview that he did not regard the pounds present exchange rate was uncomfortably high. I think it is round about right he said. ... | LAWSON REPEATS HE IS CONTENT WITH STERLING LEVEL |
Bethlehem Steel Corp said it was disappointed by the downgrading of its debentures by Standard and Poors Investment Service. We believe their action is inappropriate in view of the stability we are experiencing in the market the realization of the anticipated improvements in our steel operations and our current liquidi... | BETHLEHEM STEEL <BS> SAYS LIQUIDITY ADEQUATE |
Greyhound Lines said on its first day under new management it slashed fares on 166 of its shorter routes many by 50 pct or more. On Wednesday Greyhound Corp <G> completed the sale of its Greyhound Lines subsidiary to GLI Holdings Inc for 350 mln dlrs in cash securities royalties and other considerations. Most of the... | GREYHOUND LINES SLASHES FARES |
Shr profit nil vs loss one ct Net profit 1136 vs loss 42840 Revs 1490718 vs 1151176 Nine mths Shr profit three cts vs profit five cts Net profit 89900 vs profit 150523 Revs 4520393 vs 4078441 Reuter | BUTLER NATIONAL CORP <BUTL> 3RD QTR JAN 31 |
FCS Laboratories said its investment banker Butcher and Singer Inc received a preliminary merger proposal from another company in the healthcare field. FCS said that if various aspects of the proposal are better defined its board may consider it. FCS said merger negotiations with this other company have been continuing... | FCS <FCSI> RECEIVES MERGER PROPOSAL |
The initial public offering of 1.1 mln shares of MMR Holding Corp common stock was priced at 13.50 dlrs a share said William Blair and Co and Howard Weil Labouisse Friedrichs Inc co-managers of the underwriting group. All shares will be sold by the company. Based in Baton Rouge La. MMR is an electrical and mechanical s... | MMR HOLDING CORP INITIAL OFFERING PRICED |
Standard and Poors Corp said the merger agreement between Fleet Financial Group and Norstar Bancorp Inc would not affect the firms current ratings because the merger cannot take place until July 1988. It said any rating change until then would depend on each individual bank holding company. S and P noted that the combi... | FLEET<FLT>, NORSTAR<NOR> S/P RATINGS UNAFFECTED |
GM TO IDLE 3,500 WORKERS AT LANSING, MICH., RETURN 3,500 OTHERS TO WORK | |
U.S. M-1 money supply rose 500 mln dlrs to a seasonally adjusted 738.7 billion dlrs in the March 9 week the Federal Reserve said. The previous weeks M-1 level was revised to 738.2 billion dlrs from 738.0 billion while the four-week moving average of M-1 rose to 738.2 billion dlrs from 737.2 billion. Economists polled b... | U.S. M-1 MONEY SUPPLY RISES 500 MLN DLRS |
Shr profit 58 cts vs loss 11 cts Net profit 726000 vs loss 145000 Sales 4958000 vs 2783000 Nine Mths Shr profit 1.08 dlrs vs loss 80 cts Net profit 1359000 vs loss 1013000 Sales 12.6 mln vs 7145000 NOTE: Fiscal 1987 net profit includes tax credits of 372000 dlrs in the quarter and 643000 dlrs in the nine months. Period... | ART'S-WAY MANUFACTURING CO <ARTW> 3RD QTR NET |
Shr loss 18 cts vs profit 11 cts Net loss 1.5 mln vs profit 868000 Revs 29.3 mln vs 41.1 mln Year Shr loss 41 cts vs profit five cts Net loss 3.1 mln vs profit 409000 Revs 99.2 mln vs 231.7 mln Reuter | PSE INC <POW> 4TH QTR |
General Motors Corp said it will lay off 3500 workers temporarily at one of its car assembly plants on March 23 the same day that 3500 other workers will return to work. The number one U.S. automaker in announcing its plant schedule for the week of March 23 said no further indefinite layoffs are expected for that week.... | GM <GM> TO IDLE 3,500 WORKERS |
Shr 12.84 dlrs vs 3.07 dlrs Net 46054000 vs 11026000 Revs 491.1 mln vs 473.9 mln NOTE: Current net includes gain of 8.51 dlrs a share on disposal of assets. M.W. Ward holds 62 pct voting interest. Reuter | <WARDAIR INTERNATIONAL LTD> YEAR NET |
Sea Containers Ltd predicted its first quarter fiscal 1987 net earnings would improve by 10 mln dlrs over the same period a year ago. The company said 1987 got off on a much better footing than fiscal 1986 from which the company recorded a loss of 67.6 mln dlrs or 6.28 dlrs per share on revenues of 641.4 mln dlrs. Jame... | SEA CONTAINERS <SCR> EXPECTS BETTER FIRST QTR |
First Interstate Bancorp said its 1987 pre-tax income could be reduced by about 33.5 mln dlrs if it decides to reclassify its 339 mln dlrs in medium- to long-term loans to Brazil as nonperforming. But the company stressed in a filing with the Securities and Exchange Commission that it believes it is too soon to reclass... | FIRST INTERSTATE <I> ESTIMATES BRAZIL RISKS |
Shr profit 15 cts vs profit 15 cts Net profit 1025000 vs profit 969000 Revs 10.9 mln vs 7.8 mln 12 mths Shr profit 33 cts vs loss one cts Net profit 2375000 vs profit 90000 Revs 38.2 mln vs 20.3 mln NOTE: Revenues figure shows contract revenue not gross contracts written. Fourth quarter and full year 1986 includes extr... | AMERICAN HOME SHIELD CORP <AHSC> 4TH QTR NET |
Securities and commodity exchanges should consider establishing a mechanism for halting trading of equities futures and options when there is unusual price volatility a top Securities and exchange SEC official said. Richard Ketchum director of the SECs division of market regulation said a short system-wide halt of trad... | SEC OFFICIAL PROPOSES EQUITY, FUTURES TRADE HALT |
Public Service Co of Indiana Inc said it acted today to replace 35 mln dlrs in existing debt estimating that would save it about 1.8 mln dlrs a year. The utility said it plans to issue a 35 mln dlr 7.6 pct first mortgage bond Series NN due 2012 to the city of Princeton Ind. The Series NN bonds will serve as collateral ... | P.S. INDIANA <PIN> TO REDEEM DOUBLE-DIGIT DEBT |
Shipments of major home appliances in February rose 9.1 pct to 3.5 mln up from 3.2 mln a year ago reported the Association of Home Appliance Manufacturers. It said year to date total major appliance shipments rose 11.4 pct to 7.6 mln from 6.8 mln a year earlier. It said strong shipment gains in four of the five applian... | MAJOR HOME APPLIANCE SHIPMENTS UP IN FEBRUARY |
The federal environment department said it charged Gulf Canada Corp with eight counts of waste dumping into the Beaufort Sea. The dumping is alleged to have occurred September 23-30 1986 and Gulf faces a maximum 50000 dlr fine on each count according to the department. The department said Gulf allegedly dumped tons of ... | GULF CANADA <GOC> CHARGED WITH WASTE DUMPING |
Shr loss 17 cts vs loss 19 cts Net loss 213000 vs loss 217000 Sales 6788000 vs 6254000 Year Shr loss 22 cts vs loss five cts Net loss 270000 vs loss 61000 Sales 27.0 mln vs 27.0 mln Reuter | TRIANGLE HOME PRODUCTS INC <THP> 4TH QTR LOSS |
The Federal Deposit Insurance Corp. said the Red River National Bank of Clarksville Tex. failed and its assets were taken over by State Bank of DeKalb Tex. The failure was the 45th bank in the nation and 16th in Texas. The FDIC has assisted two more banks with funds to enable them to keep operating. Red River banks two... | BANK FAILURE WAS 16TH IN TEXAS |
The United Steelworkers of America said that bankruptcy Judge Burton Liflandss refusal to act on a union lawsuit was a gross denial of due process for 47000 retired employees of LTV Steel. The union is seeking an injunction that would require LTV Corp <QLTV> to reinstate 400 dlr monthly supplements to about 7000 ret... | UNITED STEELWORKES SAYS DUE PROCESS DENIED |
Reichhold Chemicals Inc said its emulsion polymers division increased by nine cts per dry pound the prices of all styrene-butadiene and polystyrene latexes effective May 1. It said the increase is in addition to recently announced increases and applies to carpet paper nonwovens textiles adhesives and other specialty en... | REICHHOLD <RCI> RAISES SOME MATERIALS PRICES |
Tri-Star Pictures Inc said it agreed to acquire the Roosevelt Field Century Theatre from Canadas Cineplex Odeon Corps RKO Century Warner Theatres Inc for 17 mln dlrs. The recently refurbished and expanded theater is located in Garden City N.Y.. Reuter | TRI-STAR <TRSP> BUYS CINEPLEX THEATER |
DEP Corp said it agreed to sell the distribution rights to Doans Backache Pills to <Ciba-Geigy Corp> for 34.4. mln dlrs in cash. DEP said it acquire the product line when it purchased Jeffrey Martin Inc earlier this year. The company also said it intends to sell the remaining over-the-counter drug business obtained ... | DEP <DEPC> SELLS PRODUCT DISTRIBUTION RIGHTS |
Oper shr loss 30 cts vs loss 25 cts Oper net loss 2138000 vs loss 2312000 Revs 99.3 mln vs 89.4 mln Year Oper shr loss 40 cts vs profit 47 cts Oper net profit 4294000 vs profit 8793000 Revs 390.9 mln vs 360.5 mln NOTE: Excludes discontinued operations loss of 1.33 dlrs a share vs 5.35 dlrs a share in the quarter and lo... | FRANK B. HALL AND CO INC <FBH> 4TH QTR LOSS |
The Securities and Exchange Commission is continuing an investigation of the practice of parking stocks said Richard Murphy a lawyer with the SEC enforcement division. Earlier the SEC settled civil charges against Boyd Jefferies and Jefferies Group Inc which allege market manipulation and the parking of stocks a practi... | SEC CONTINUES MARKET MANIPULATION INVESTIGATION |
Transportation Secretary Elizabeth Dole proposed to allow the use of daytime running lights as a measure to improve safety on the highways. Dole said in an announcement that in Sweden and Finland where daytime lights have been in use the number of crashes and lives lost has been reduced. The transporation department sa... | U.S. AGENCY PROPOSES DAYTIME LIGHTS FOR CARS |
The following proposed securities offerings were filed recently with the Securities and Exchange Commission: Ramada Inc <RAM> - Offering of 100 mln dlrs of subordinated notes due 1999 through Salomon Brothers Inc. Chock Full ONuts Corp <CHG> - Offering of 60 mln dlrs of convertible senior subordinated debentures ... | PROPOSED OFFERINGS RECENTLY FILED WITH THE SEC |
Shr 1.09 dlrs vs 1.20 dlrs Net 1193000 vs 1361000 Revs 18.7 mln vs 17.3 mln Year Shr 1.19 dlrs vs 1.52 dlrs Net 1300000 vs 1831000 Revs 50.6 mln vs 48.8 mln Reuter | WEISFIELD'S INC <WEIS> 4TH QTR NET |
The Singapore International Monetary Exchange Ltd SIMEX said it would launch at least two options on futures contracts this year. SIMEX said in a press release that the options contracts would be based on the currency and interest rate futures currently traded on the exchange and be started toward the third quarter. SI... | SINGAPORE EXCHANGE PLANS OPTIONS CONTRACTS |
Ecuadors Minister for Industry and Trade resigned today but denied he was responding to recent protests against a new austerity program that went into effect after a devastating earthquake. Xavier Neira an economist told reporters he was stepping down for personal reasons and would return to his private business as a f... | ECUADOR INDUSTRY AND TRADE MINISTER RESIGNS |
Shr loss 1.55 dlrs vs loss 52 cts Net loss 13191000 vs loss 2254000 Revs 1179000 vs 2003000 Avg shrs 8520000 vs 4330000 Note: Current year loss includes 11.8 mln dlr writedown of oil and gas properties under full cost accounting method. Reuter | NORRIS OIL CO <NOIL> DEC 31 YEAR LOSS |
American Can Co filed with the Securities and Exchange Commission for a shelf offering of up to 500 mln dlrs of debt securities on terms to be determined at the time of the sale. Proceeds from the offering will be used for general corporate purposes including repayments of outstanding debt business acquisitions or inve... | AMERICAN CAN <AC> FILES FOR DEBT OFFERING |
Dorsey Corp said it completed the sale of substantially all its Dorsey Trailers Inc subsidiary assets to <Trailer Acquisition Corp> whose stockholders include a former Dorsey vice president and several executives of the Dorsey Trailers management team. Terms of the acquisition were not disclosed. Reuter | DORSEY <DSY> COMPLETES SALE OF UNIT |
Oper shr 38 cts vs 5.62 dlrs Oper net 400000 vs 6173000 Revs 1195000 vs 392000 Year Oper shr 94 cts vs 5.65 dlrs Oper net 1006000 vs 6257000 Revs 2432000 vs 1121000 NOTE: 1986 operating net for the quarter and year excludes a loss on the disposal of certain businesses of 2.15 mln dlrs and a loss from discontinued opera... | NAPCO INTERNATIONAL <NPCO> 4TH QTR OPER NET |
Oper shr loss 1.02 dlr Oper loss 631000 dlrs NOTE: Prior year results are not available as company completed its public offering in April 1986. Reuter | NATIONAL BANCORP INC <NIBCA> YEAR END LOSS |
Republican members of the House Budget Committee refused to cast their votes as the committee began marking up the outlines of next years federal budget. Republicans voted present during votes on a ceiling for fiscal 1988 defense spending saying they were protesting the Democrats failure to present an alternative to Pr... | HOUSE GOP BUDGET WRITERS WITHHOLD VOTES |
Shr loss seven cts vs loss 19 cts Net loss 497452 vs loss 1306875 Revs 10.6 mln vs 9.6 mln Reuter | <BACHELOR LAKE GOLD MINES INC> YEAR LOSS |
New York investor George Soros and an investment fund he controls said they raised their stake in King World Productions Inc to 2485510 shares or 8.1 pct of the total outstanding from 1986710 shares or 6.5 pct. In a filing with the Securities and Exchange Commission Soros said his group bought a net 498800 King World c... | SOROS LIFTS KING WORLD <KWP> STAKE TO 8.1 PCT |
<Cineplex Odeon Corp> said it agreed in principle to acquire the Walter Reade Organization Inc New York cinema chain from Coca-Cola Cos Entertainment Holdings Inc unit for 32.5 mln U.S. dlrs. Cineplex said the purchase price consisted of 22.5 mln dlrs cash and 652742 Cineplex common shares. The transaction is subjec... | CINEPLEX ODEON BUYING COKE <KO> CINEMA UNIT |
Secretary of State George Shultz has decided not to oppose any U.S. wheat subsidy offer to the Soviet Union and has left the final decision on whether to sell subsidized wheat to Moscow up to President Reagan and the Agriculture Department a State Department official said. Shultz feels like he fought the battle against... | SHULTZ NOT OPPOSED TO WHEAT SUBSIDY TO SOVIETS |
Shr not given Net 540000 vs 1890000 Revs 4.9 mln vs 7.1 mln Reuter | <SUMMIT RESOURCES LTD> YEAR NET |
Morgan Guaranty Trust Co said it filed suit against <Metromedia Inc> seeking a redemption at par of Metromedia subordinated discount debentures. The debentures due 1998 were issued in 1984 and were zero coupon notes for the first five years. Beginning 1990 they were to receive semi-annual interest payments at an ann... | MORGAN GUARANTY <JPM> SUES METROMEDIA FOR NOTES |
Qtly div 19 cts vs 19 cts prior Pay April 15 Record April three Reuter | GOULDS PUMPS INC <GULD> SETS REGULAR PAYOUT |
Clorox Co said <Henkel KGaA> of Dusseldorf West Germany agreed to increase its holdings in Clorox to 30 pct from the current level of 23 pct. Henkel which also holds a subordinated note convertible into another 1.7 pct of the companys stock intends to acquire the additional shares in the open market over an extended... | HENKEL TO INCREASE STAKE IN CLOROX <CLX> |
Shr 17 cts vs five cts Net 1442000 vs 393000 Revs 9771000 vs 8052000 Year Shr 74 cts vs 23 cts Net 6076000 vs 1875000 Revs 34.9 mln vs 30.3 mln Reuter | <SIGMA MINES (QUEBEC) LTD> 4TH QTR NET |
Sir Roy Denman Head of the EC Delegation in Washington said pending U.S. trade legislation is a misguided attempt to deal with the nations trade deficit and will spark retaliation if passed in its present form. To think that you can deal with a trade deficit by legislation is a mistake he told the Foreign Trade Associa... | EC OFFICIAL FAULTS U.S. TRADE BILL |
The International Association of Machinists and Aerospace Workers said checks totaling 33 mln dlrs are being mailed to 2500 of its members who formerly worked for Republic Airlines and are now employed by Northwest Airlines (NWA). The payoffs result from a trust agreement and employee stock ownership plan negotiated in... | FORMER REPUBLIC EMPLOYEES GET ESOP FUNDS |
Provincially-owned Hydro-Quebec said it had no obligation to supply electricity to other Canadian provinces if it could sell it at a higher price to Americans. The utility told a National Energy Board hearing that U.S. utilities generally offer higher prices for electricity than those in Canada because the Americans wa... | HYDRO-QUEBEC SEES NO CANADA SALES OBLIGATION |
Lacana Mining Corp said it plans to issue five mln common shares at 12 dlrs each to reduce debt incurred on its recent purchase of a 51 pct stake in <Mascot Gold Mines Ltd>. The company said it will issue 3750000 of the shares through Canadian underwriters Gordon Capital Corp Loewen Ondaatje McCutcheon and Co Ltd an... | LACANA MINING (LCNAF) TO ISSUE FIVE MLN SHARES |
Frank B. Hall and Co Inc said its independent accountants will issue a qualified report on its financial statements. The company said the opinion is the result of ongoing litigation over its discontinued operations. Earlier it said it lost 2.1 mln dlrs in the fourth quarter against a loss of 2.3 mln dlrs a year ago bef... | FRANK B. HALL <FBH> EARNINGS REPORT QUALIFIED |
Intermark Inc which together with one of its subsidiaries already holds a 43.4 pct stake in Pier 1 Imports Inc told the Securities and Exchange Commission it plans to acquire a majority of the companys voting stock. Intermark said it already holds 6839827 Pier 1 common shares or 35.66 pct and its Pier 1 Holdings Inc ho... | INTERMARK<IMI> SEEKS MAJORITY PIER 1 <PIR> STAKE |
Shr loss 15 cts vs nil Net loss 877000 vs profit 22000 Sales 13.5 mln vs 18.0 mln Nine mths Shr loss 35 cts vs profit 20 cts Net loss 2098000 vs profit 1184000 Sales 43.5 mln vs 55.9 mln (Electro Scientific Industries) Reuter | ELECTRO SCIENTIFIC <ESIO> 3RD QTR FEB 28 LOSS |
Jostens Corp said it agreed to sell its proprietary school business to CareerCom Corp for 20 mln dlrs in cash and about 1.7 mln CareerCom common shares. Upon completion of the proposed transaction Jostens will own 20 pct of CareerComs stock which it intends to hold for investment purposes it said. Proprietary school sa... | JOSTEN'S <JOS> TO SELL UNIT TO CAREERCOM <CRCM> |
Duff and Phelps said it is upgrading to Duff 1- (one minus) from Duff 2 its rating on Baxter Travenol Incs commercial paper totaling about 541 mln dlrs. The upgrading reflects the companys significant improvement made in reducing debt since its 1985 acquisition of American Hospital Supply Corp it said. Reuter | DUFF AND PHELPS UPGRADES BAXTER TRAVENOL <BAX> |
Workers at a General Motors Corp parts plant in Michigan are scheduled to vote tomorrow on a new contract that would change the way many of the workers do their job. Some 3000 members of the United Auto Workers at GMs Livonia Mich. parts plant will vote in two shifts on a local contract to replace their current agreeme... | GM <GM> PARTS WORKERS TO VOTE ON CONTRACT |
Qtly cash distribution five cts vs five cts prior Pay April 15 Record March 31 Reuter | NRM ENERGY CO <NRM> SETS REGULAR PAYOUT |
Qtly cash distribution 30.5 cts vs 18.4 cts prior Pay May 15 Record March 31 Note: Prior-quarter dividend was an initial payout based on operations for a partial fourth quarter in 1986. Reuter | MOTEL 6 LP <SIX> SETS CASH DISTRIBUTION |
Duff and Phelps said it is upgrading to its highest level Duff 1+ (one plus) from Duff 1 the rating on about 836 mln dlrs of Philip Morris Companies Inc commercial paper. The change reflects the companys improvement in retiring debt incurred in the the acquisition of General Foods Corp and the ability of both the tobac... | DUFF AND PHELPS UPGRADES PHILIP MORRIS <MO> |
A group led by Halcyon Investments a New York securities and risk arbitrage partnership said it has acquired 486400 shares of Atlantic Research Corp or 6.4 pct of the total outstanding common stock. In a filing with the Securities and Exchange Commission the Halcyon group said it bought the stake for 15.6 mln dlrs for ... | GROUP HAS 6.4 PCT OF ATLANTIC RESEARCH <ATRC> |
Shr 26 cts vs 18 cts Net 2102000 vs 1415000 Revs 44.1 mln vs 42.2 mln Year Shr 21 cts vs 91 cts Net 1678000 vs 7105000 Revs 155.1 mln vs 149.2 mln Note: Current year figures include 10.1 mln dlr writedown of costs and investments associated with ethanol refinery project. Reuter | ULTRASYSTEMS INC <ULS> 4TH QTR NET |
The Justice Department mishandled an investigation into alleged fraud on Navy contracts by a unit of Tenneco Inc <TGT> two senior senators charged. The charges made jointly by Sens. William Proxmire D-Wis. and Charles Grassley R-Iowa were based on a report by subcommittee staffs of the Senate Judiciary Committee and... | SENATORS SAY JUSTICE MISHANDLED TENNECO PROBE |
One of the top executives of the International Monetary Fund (IMF) has tendered his resignation charging that the United States has been pressuring the agency to reduce the conditions it places on some loans monetary sources said. C. David Finch an Australian who heads the IMFs exchange and trade relations department t... | IMF OFFICIAL RESIGNS CHARGING U.S. LOAN PRESSURE |
An investor group told the Securities and Exchange Commission it plans to cut its stake in Valero Energy Corp to 402925 shares or 1.6 pct of the total outstanding from 1522850 shares or 6.0 pct. The group led by TAG Group S.A. of Luxembourg said it filed with the SEC on Feb 20 a notice that it proposes to sell 1119925 ... | TAG GROUP TO CUT VALERO ENERGY<VLO> STAKE |
Oper shr 31 cts vs 34 cts Oper net 3005000 vs 2835000 Revs 13.1 mln vs 9478000 Year Oper shr 1.49 dlrs vs 1.15 dlrs Oper net 28.7 mln vs 16.9 mln Revs 47.8 mln vs 32.0 mln Note: Oper net excludes loss from discontinued operations of 726000 dlrs vs gain of 737000 dlrs for qtr and gain of 581000 dlrs vs gain of 2350000 d... | WESTERN TELE-COMMUNICATIONS <WTLCA> 4TH QTR NET |
The Andean Development Corp (CAF) said today it is lending 11.7 mln dlrs to Ecuador to help repair 25 miles of oil pipeline destroyed by an earthquake earlier this month. the loan was signed here today in the offices of the caracas based caf by the corporations president galo montano perez and ecuadorean ambassador ant... | ECUADOR GETS LOAN TO HELP REPAIR OIL PIPELINE |
Harmon Industries Inc said it signed a letter of intent to acquire for about 3.5 mln dlrs a majority of the stock of SNP Inc a Portland Oregon-based company which has patents to reprocess used railroad ties into new ties for resale. Reuter | HARMON <HRMN> TO BUY RECYCLING FIRM FOR CASH |
Qtly cash distribution 72 cts vs 72 cts prior Pay May 15 Record March 31 Reuter | SANTA FE ENERGY PARTNERS LP <SFP> QTLY PAYOUT |
Latest Federal Reserve data suggest that the U.S. banking system is flush with reserves going into a period of traditional tightness and that overall monetary policy is on hold economists said. There is ample liquidity.... The Fed is not going to shift gears at the present time or for at least another month said Maria ... | FED DATA SUGGEST U.S. CREDIT POLICY IS ON HOLD |
A U.S. Navy battle group led by the U.S. aircraft carrier Kitty Hawk is in the northern Arabian Sea amid renewed concern about the safety of shipping off the coast of Iran U.S. officials said today. But Pentagon spokesman Fred Hoffmann said that reports the naval strike force was in the region did not mean the United S... | U.S. SAYS NO SIGNAL BEING SENT BY SHIP MOVEMENTS |
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