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<unk> 's <unk> segment reported operating profit for the quarter of $ N million less than half the $ N million of the year-earlier quarter |
third-quarter operating profit of the <unk> group declined slightly to $ N million from $ N million |
but operating profit from aerospace products rose nearly N N to $ N million from $ N million |
in new york stock exchange composite trading shares of the <unk> <unk> company fell $ N to $ N |
fiat s.p a. italy 's leading industrial group is conducting concrete talks with west germany 's daimler-benz ag on a series of projects in the aerospace sector fiat officials said |
however the officials said it was too early to disclose the nature of the proposed projects or indicate when the talks might be concluded |
daimler-benz chairman <unk> reuter told milan 's financial daily <unk> sole N <unk> that talks are taking place between both companies ' aerospace units |
while mr. reuter 's comments please us very much there currently are no talks in progress regarding the automotive industry a fiat spokeswoman said |
in the interview mr. reuter said he is thinking <unk> of cooperation in the truck sector but in the long run i do n't want to rule out that we can also come a bit closer in personal cars |
<unk> <unk> italy analyst for county natwest securities in london said that right now the market is n't being influenced by that kind of news referring to the conditional nature of the talks mentioned by mr. reuter and by the uncertainty surrounding world stock exchanges this week |
paul <unk> was named president chief executive officer and chairman of this oil and natural gas company |
he succeeds john a. <unk> who resigned for personal reasons |
mr. <unk> had been president of penn pacific 's national southwest capital group subsidiary |
mr. <unk> will remain with penn pacific as a director and a member of the executive committee |
he has also agreed to become president of a new subsidiary to be formed to make future acquisitions the company said |
spooked investors despite their <unk> to dump takeover stocks should hold on tight to their jaguar shares |
that 's the view of some analysts here who argue that britain 's leading maker of luxury cars still may have two u.s. auto giants <unk> for it |
yesterday ford motor disclosed that it has raised its holding in jaguar to N N from N N |
both ford and its rival general motors recently set their sights on <unk> significant minority stakes in the british company |
ford 's latest move increases the pressure on gm to complete its current talks with jaguar quickly |
gm is likely to reach the cooperative operating pact it has been seeking in about two weeks knowledgeable individuals say |
at that point investors may face a long <unk> ride |
a victor in the fight for jaguar may not emerge until after the expiration late next year of british government takeover restrictions |
the curbs prevent a buyer from purchasing more than N N of jaguar shares without permission |
this is an exceptionally odd takeover battle says london analyst christopher will of shearson lehman hutton |
jaguar 's american depositary receipts were up N yesterday in a down market closing at N N |
jaguar 's adrs make the company one of the most widely held united kingdom stocks in the u.s. with more than <unk> of its shares owned there |
jaguar topped the <unk> list for the u.s. over-the-counter market monday |
and on london 's stock exchange monday N million shares were traded far above the usual volume |
ford 's share purchases undoubtedly accounted for much of monday 's heavy trading |
last week many jaguar shareholders took their money and ran |
fears that ford 's <unk> might be cooling put jaguar shares into reverse after gm confirmed its friendly negotiations with jaguar |
but yesterday 's announcement indicates that ford has n't lost interest |
both shearson 's <unk> will and stephen reitman european auto analyst at the london brokerage firm <unk> & drew recently switched their jaguar recommendations to hold from buy |
sit tight through the coming volatility mr. reitman suggests though he concedes that many small investors will find jaguar 's <unk> too hard to <unk> |
but a crucial point is how ford <unk> when gm the world 's largest auto maker firms up its proposed deal with jaguar |
at the moment ford executives will say little beyond <unk> their desire to raise ford 's jaguar stake to about N N |
gm is expected to <unk> roughly # N million $ N million by acquiring some jaguar shares and then win jaguar management 's promise of an eventual N N stake |
analysts believe the car makers also will create joint ventures to develop new executive models doubling jaguar 's yearly output of N cars |
jaguar shareholders would have to <unk> such a far-reaching accord |
ford might challenge the proposal by offering a full bid if holders and the u.k. government agreed to drop the anti-takeover barrier early |
i think ford is going to come out with full guns <unk> mr. reitman says |
ford wants jaguar very much |
u.s. takeover-stock speculators who may own between N N and N N of jaguar could give ford enough votes to block the gm deal |
gm might <unk> |
then <unk> will says you get a bidding war between two very rich very determined international companies |
he believes jaguar 's share price could <unk> to between # N and # N $ N to $ N |
there 's quite a bit of value left in the jaguar shares here even though they have run up lately says doug johnson a fund manager for <unk> <unk> asset management |
at the moment he intends to keep the firm 's N jaguar shares |
the risk is that jaguar 's share price could slump if gm 's agreement with jaguar effectively <unk> out its u.s. rival |
ford 's appetite to attack jaguar could gradually <unk> over time particularly if saab is a reasonably attractive proposition says john lawson an auto analyst at london 's nomura research institute |
he thinks saab-scania ab on friday will announce the sale of N N of its car division to ford the companies have been discussing closer cooperation for months |
clifford <unk> president and chief investment officer of <unk> capital <unk> inc. two weeks ago sold his cincinnati firm 's N jaguar adrs at about N each making a <unk> profit on a holding purchased at N N in early may |
i thought the <unk> of a bidding war happening were less he says |
of course that was before ford 's latest move |
jaguar otc symbol <unk> |
business luxury cars |
year ended dec. N N |
revenue $ N billion |
net income $ N million or N cents a share |
first half ended june N N |
net loss $ N million vs. net income $ N million or N cents a share |
<unk> daily trading volume ordinary shares outstanding N million |
note all figures are translated into u.s. dollars based on current exchange rates |
<unk> sloan N years old announced that he will retire next april as chairman and chief executive officer of this <unk> food and <unk> products maker |
no replacement was immediately named |
mr. sloan plans to remain on the board until his current term expires in april N a <unk> spokesman said |
newport electronics inc. of santa ana calif. said milton b. hollander who holds a N N stake requested a special shareholders ' meeting next wednesday to remove four current directors and <unk> an alternative slate |
mr. hollander 's high technology holding co. of stamford conn. acquired most of its stake last august in an $ <unk> tender offer for newport a maker of <unk> devices |
newport said mr. hollander is asking shareholders to retain only one director james r. <unk> a newport vice president |
the board is n't proposing a slate of its own and the other four current directors do n't want to serve beyond the special meeting date newport said |
mr. hollander is the new owner and wants to exercise control said <unk> b. weekes newport 's chairman |
<unk> ag a major swiss chemical and pharmaceutical group said that its group sales rose N N to N billion francs $ N billion in the first nine months of this year with strong gains in all divisions |
a year earlier sales totaled N billion francs |
positive currency rates and strong sales growth led to a substantial rise in consolidated profit in the period although the company did n't provide figures as is <unk> with swiss companies |
<unk> said it expects a substantial increase in consolidated profit for the full year barring major currency rate changes |
<unk> plc a british maker of computer hardware and communications equipment posted a N N plunge in pretax profit for the latest year |
the # N million $ N million in pretax profit for the N months to june N was down from # N million $ N million a year earlier and below market expectations of # N million and # N million |
the slump in profit which came despite steady sales was attributed to increased costs for parts and problems with model <unk> |
<unk> 's profit after taxes fell a similarly steep N N to # N million from # N million a year earlier |
sales edged up fractionally to # N million from # N million a year earlier |
microsoft corp. 's earnings growth continued to <unk> that of most of its competitors and customers in the personal-computer industry as it reported a N N jump in fiscal first-quarter earnings on a N N revenue gain |
the redmond wash. company a bellwether provider of operating systems and software for personal-computer makers and users reported net income for the quarter ended sept. N of $ N million or N cents a share up from $ N million or N cents a share in the year-ago period |
revenue rose to $ N million from $ N million |
microsoft previously indicated it would have a strong quarter by forecasting its revenue gain on oct. N causing a $ N a share jump in its stock |
but its stock jumped again yesterday as it disclosed surprisingly strong margins on those sales |
microsoft 's stock rose $ N a share in national over-the-counter trading to $ N |
the stock had hit a high of $ N a share early last week but collapsed to $ N in the friday stock plunge |
the company had been experiencing softening margins because of increased sales of software applications which have lower margins than do operating systems |
but the company said that trend was offset in the first quarter by better economies of scale and <unk> in manufacturing |
as a result microsoft 's cost of goods as a percentage of sales fell N N from the year-ago quarter and N N from the previous period |
the trend drove up the <unk> margin net income as a percentage of revenues to N N in the quarter compared with N N a year earlier |
microsoft officials said the strong results also reflected continuing high demand for its software applications and operating systems |
while it has predicted that overall growth in unit sales of personal computers is slowing to about a N N yearly rate its own products are selling at a much faster rate because many are geared to the <unk> end of the market |
that segment continues to post strong <unk> gains while the <unk> or commodity segment of the industry is experiencing sluggish growth or even sales declines |
compared with its previous quarter the final period of its N fiscal year net rose N N and sales rose N N |
control data corp. minneapolis signed a joint development agreement with mips computer systems inc. to <unk> an emerging computing architecture in future machines |
mips is a leader in what is known as <unk> set computing or risc a technology combining microprocessors and sophisticated software |
in joining mips control data follows several competitors in <unk> risc as a new design approach |
digital equipment corp. tandem computers inc. nec corp. and group bull among others have similar arrangements with mips based in sunnyvale calif |