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New York investor Martin Sosnoff said
he reduced his stake in Caesars World Inc common stock to
3,878,700 shares, or 16 pct of the company's common stock
outstanding, from about 17.4 pct.
Sosnoff, who tried unsuccessfully to acquire Caesars World
earlier this year, said in a filing with the Securities and
Exchange Commission that he sold 338,975 Caesars World shares
on October 15 and 16 at 22.50 dlrs to 25.25 dlrs a share.
Sosnoff said he holds his Caesars World stock "primarily
for investment purposes". He also said he reserves the right to
alter his intentions at any time.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20208" | "21228" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:44:59.48 | SOSNOFF REDUCES CAESARS WORLD <CAW> STAKE |
"BRIEF" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20206" | "21230" | [] | [] | [] | [] | 19-OCT-1987 12:41:58.41 | CRAZY EDDIE INC SAYS IT WON'T OPPOSE SLATE OF ENTERTAINMENT MARKETING |
|
Shr 26 cts vs 18 cts
Net 1,409,551 vs 985,470
Revs 38.4 mln vs 22.5 mln
Nine mths
Shr 64 cts vs 47 cts
Net 3,477,188 vs 2,558,625
Revs 88.8 mln vs 63.9 mln
NOTE: Earnings per share adjusted for 3-for-2 stock split
distributed on September 4.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20204" | "21232" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:40:46.92 | MYERS INDUSTRIES INC <MYE> 3RD QTR NET |
Shr profit two cts vs loss 2.60 dlrs
Net profit 111,000 vs loss 16.9 mln
Nine mths
Shr profit 19 cts vs loss 2.80 dlrs
Net profit 1,261,000 vs loss 18.1 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20203" | "21233" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:39:54.49 | VICTORIA BANCKSHARES INC <VICT.O> 3RD QTR NET |
Shr 11 cts vs 22 cts
Qtly div 10 cts vs 10 cts prior
Net 548,254 vs 1,138,978
Revs 28 mln vs 31.1 mln
Year
Shr 50 cts vs 1.34 dlrs
Net 2,527,846 vs 6,822,293
Revs 111.7 mln vs 118.9 mln
NOTE: Qtly div payable December 4 to shareholders of record
November 13.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20202" | "21234" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:39:24.91 | INTERSTATE SECURITIES INC <IS> 4TH QTR SEPT 30 |
Sept 30 end
Shr 14 cts vs 20 cts
Net 733,980 vcs 871,720
Revs 14.7 mln vs 12.0 mln
Avg shrs 5,130,190 vs 4,302,430
Year
Shr 61 cts vs 60 cts
Net 2,763,308 vs 2,550,133
Revs 50.0 mln vs 43.1 mln
Avg shrs 4,565,189 vs 4,277,046
Fiscal 1987 net both periods includes charge 480,000 dlrs
to adjust premium reserves for workers' compensation and
liability insurance claims.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20200" | "21236" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:37:28.48 | PANCHO'S MEXICAN BUFFET INC <PAMX.O> 4TH QTR NET |
Shr 85 cts vs 73 cts
Net 3,150,000 vs 2,699,000
Sales 39.8 mln vs 34.3 mln
Nine Mths
Shr 2.19 dlrs vs 1.86 dlrs
Net 8,109,000 vs 6,876,000
Sales 111.5 mln vs 100.7 mln
NOTE: 1987 tax credits added 14 cts to third quarter net
and 33 cts to nine months net compared with credits of 16 cts
and 45 cts in the respective 1986 periods.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20199" | "21237" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:37:13.02 | FRANKLIN ELECTRIC CO INC <FELE.O> 3RD QTR NET |
Oper shr three cts vs 48 cts
Oper net 170,000 vs 2,324,000
Nine mths
Oper shr 1.26 dlrs vs 1.84 dlrs
Oper net 6,157,000 vs 8,907,000
NOTE: Operating net excludes extraordinary gains of 231,000
dlrs, or four cts a share, vs 2,657,000 dlrs, or 55 cts a
share, in quarter and 1,341,000 dlrs, or 28 cts a share, vs
4,637,000 dlrs, or 95 cts a share, in the nine months
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20198" | "21238" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:36:40.54 | ALTUS BANK <ALTS.O> 3RD QTR NET |
Shr 48 cts vs 35 cts
Net 4,946,000 vs 3,552,000
Sales 94.1 mln vs 84.5 mln
Avg shrs 10.2 mln vs 10.1 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20196" | "21240" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:36:09.35 | KENNAMETAL INC <KMT> 1ST QTR SEPT 30 NET |
Oper shr profit four cts vs profit 13 cts
Oper net profit 456,000 vs profit 1,633,000
Revs 37.8 mln vs 34.0 mln
Avg shrs 13.0 mln vs 13.0 mln
Nine mths
Oper shr profit 12 cts vs loss 39 cts
Oper net profit 1,614,000 vs loss 4,877,000
Revs 109.2 mln vs 88.3 mln
Avg shrs 13.1 mln vs 12.5 mln
NOTE: 1987 net excludes tax credits of 156,000 dlrs in
quarter and 716,000 dlrs in nine mths.
1987 net both perioods includes charge one mln dlrs from
restructuring of Computer Products Division.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20194" | "21242" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:31:22.88 | COMPUTER CONSOLES INC <CCS> 3RD QTR NET |
The Senate Agriculture Committee was
expected to consider proposals that would limit adjustments in
county loan rate differentials which trigger larger corn and
wheat acreage reduction requirements, Senate staff said.
A budget-saving proposal drafted by chairman Patrick Leahy
(D-Vt) would limit adjustments in county loan rate
differentials to no more than one pct per year from the
national average loan rate, starting with 1988 crops.
The plan also would allow the Agriculture Secretary to
increase the unpaid acreage reduction requirement for corn by
"an appropriate amount to generate savings" if projected corn
stocks exceeded 6.0 billion bushels.
Leahy's proposal would also allow a larger 1988 wheat set
aside if projected stocks surpassed 1.9 billion bushels.
Reuter
| "NORM" | [
"grain",
"wheat",
"corn"
] | "TEST" | "TRAINING-SET" | "20193" | "21243" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:30:42.95 | SENATE PANEL STUDIES LOAN RATE, SET ASIDE PLANS |
Shr profit five cts vs loss one ct
Net profit 504,000 vs loss 102,000
Revs 31.4 mln vs 32.0 mln
Nine mths
Shr profit 17 cts vs profit 26 cts
Net profit 1,729,000 vs profit 2,596,000
Revs 92.7 mln vs 112.6 mln
NOTE: 1986 3rd qtr net includes a after-tax charge of
555,000 dlrs for sale of Reliacare Inc.
1986 nine mths net includes charge of 1,253,000 dlrs or 12
cts a share for sale of Reliacare and Inspiron Hospital
Products division.
1986 nine mths net also includes aftertax earnings of
2,256,000 dlrs or 22 dlrs a share for American Medical
International Inc <AMI> contracts which expired July 1986.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20192" | "21244" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:30:28.20 | OMNICARE INC <OCR> 3RD QTR NET |
"BRIEF" | [
"cpu"
] | "TEST" | "TRAINING-SET" | "20191" | "21245" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:28:38.16 | U.S. INDUSTRIAL CAPACITY USE RATE 81.2 PCT IN SEPTEMBER, UNCHANGED FROM AUGUST |
|
Shr 1.22 dlrs
Net 27.8 mln vs 28.6 mln
Nine mths
Shr 3.88 dlrs
Net 87.4 mln vs 98.7 mln
Assets 10.3 billion vs 8.4 billion
Deposits 7.4 billion vs 6.7 billion
Loans 7.9 billion vs 6.0 billion
NOTE: Full name is Dime Savings Bank of New York. 1986 per
share figures not available as bank converted to stock form in
August 1986.
1987 qtr and nine mths includes gain 10.5 mln dlrs and 33.2
mln dlrs, respectively, from utilization of net operating loss
carryforwards. 1986 qtr and nine mths includes gain 10.4 mln
dlrs and 32.9 mln dlrs, respectively, from utilization of net
operating loss carryforwards. 1987 qtr and nine mths also
includes charge of 835,000 dlrs for the early extinguishment of
debt net of tax benefit.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20188" | "21248" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:26:36.09 | DIME SAVINGS BANK N.Y. <DIME.O> 3RD QTR NET |
Robert Halmi Inc said it and Hal Roach
Studios Inc signed a definitive agreement to merge in a stock
swap value at 115 mln dlrs, based on October 16 closing prices.
The company said the agreement calls for the holders of
common stock in Hal Roach to exchange their shares on a
one-for-one basis for shares in the combined company.
It said holders of Robert Halmi common will exchange their
shares on a two-and-one-half-for-one basis for shares in the
combined company.
The company said the swap will be tax-free.
The company also said <Qintex Ltd>, a 35 pct owner of Hal
Roach common stock, has agreed to use the company as the
exclusive vehicle for its U.S. media and entertainment
investments, the company said.
The company said Qintex's U.S. subsidiary also agreed to
supply a minimum 70 mln dlrs line of credit to the new company,
which shall be used, with Qintex approval, for financing new
HRI products.
The company said that under the definitive agreement,
Qintex's U.S. division will have the right to purchase up to 51
pct of the new company in the open market, in private
transactions or by tender offer, but will not be purchasing
warrants to bring its ownership to 51 pct of the new company.
If Qintex's U.S. subsidiary has not achieved this ownership
within one year after the completion of the merger, the
subsidiary will have the right two years thereafter to request
that HRI commence a rights offering to HRI stockholders, the
company said.
Regarding the potential rights offering, Qintex's U.S.
subsidiary will act as standby purchaser, the company said.
The transaction is subject to the approval of both
company's shareholders, the receipt of certain tax approvals,
and the continued employement of Robert Halmi Sr and Robert
Halmi Jr, the company said.
Robert Halmi Sr, who is currently chairman and chief
executive officer of Robert Halmi Inc, will be chairman of the
new company and David Evans, current president and chief
operating officer of Hal Roach, will become chief executive,
the company said.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20185" | "21251" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:23:06.94 | HAL ROACH <HRSI.O>, ROBERT HALMI <RHI> TO MERGE |
Sept 30 end
Shr 32 cts vs 32 cts
Net 2,990,000 vs 2,988,000
Sales 57.3 mln vs 54.6 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20184" | "21252" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:22:20.46 | PICCADILLY CAFETERIAS INC <PICC.O> 1ST QTR NET |
System Software Associates Inc said it
completed its previously-announced acquisition of Admin EDP Pty
Ltd for cash and a small amount of stock.
Admin EDP, of Sydney, Australia, is a full-service software
sales and services firm.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20183" | "21253" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:22:08.04 | SYSTEM SOFTWARE <SSAX.O> COMPLETES ACQUISITION |
Shr 55 cts vs 48 cts
Net 2,520,000 vs 2,211,000
Nine mths
Shr 1.57 dlrs vs 1.41 dlrs
Net 7,223,000 vs 6,475,000
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20181" | "21255" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:21:45.80 | FIRST MICHIGAN BANCORP <FMBC.O> 3RD QTR NET |
Shr 19 cts vs 15 cts
Net 826,362 vs 421,759
Revs 19.0 mln vs 14.8 mln
Avg shrs 4,400,000 vs 2,900,000
Nine Mths
Shr 48 cts vs 31 cts
Net 1,872,075 vs 887,478
Revs 51.6 mln 41.1 mln
Avg shrs 3,889,000 vs 2,900,000
Note: Full name Countrywide Transport Services Inc.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20180" | "21256" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:19:29.83 | COUNTRYWIDE TRANSPORT <CWTS.O> 3RD QTR NET |
Shr four cts vs five cts
Net 85,292 vs 109,285
Revs 2,916,128 vs 474,819
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20179" | "21257" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:18:51.38 | SOFTWARE SERVICES OF AMERICA INC <SSOA.O> NET |
Shr 85 cts vs 77 cts
Net 25.8 mln vs 21.9 mln
Avg shrs 29.0 mln vs 27.1 mln
Nine mths
Shr 2.22 dlrs vs 2.14 dlrs
Net 67.9 mln vs 60.1 mln
Avg shrs 29.0 mln vs 26.5 mln
NOTE: Previously reoprted amounts restated for earnings of
First NorthWest Bancorp acquired in pooling of interests on
July 31, 1987.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20177" | "21259" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:16:39.43 | KEYCORP <KEY> 3RD QTR NET |
Oper shr 1.02 dlrs vs 82 cts
Oper net 174 mln vs 149 mln
Revs 2.7 billion vs 2.4 billion
Nine mths
Oper shr 2.54 dlrs vs 2.64 dlrs
Oper net 438 mln vs 492 mln
Revs 8.2 billion vs 7.4 billion
NOTE: 1987 3rd qtr and nine mths includes after-tax 82 mln
dlr or 49 cts a share gain for increase in equity of Union
Texas Petroleum Holdings Inc, for initial public offering.
1987 nine mths net includes after-tax gain of 73 mln dlrs
or 42 cts a share on sale of remaining interest in the Henley
Group Inc and other related transactions, which was partly
offset by an after-tax loss of 30 mln dlrs ot 17 cts a share
for repurchase of high coupon bonds.
1987 nine mths also excludes 79 mln dlrs for estimated net
gain on disposal of discontinued operations as of March 31,
1987, including Linotype Group, Amphenol Products, Ampex Corp.
1986 amounts restated to exclude sales and expenses of
discontinued operations.
1986 3rd qtr and nine mths oper net excludes operating
income of 15 mln dlrs and and 44 mln dlrs for discontinued
operations.
1986 nine mths includes a 43 mln dlrs or 24 cts a share
after tax gain for reversion of surplus pension funds.
At end of 1987 and 1986 third quarter, average shares
outstanding were 169.9 mln and 175.4 mln outstanding, after
deducting dividends accured on preferred stock. At end of 1987
and 1986 nine mth period, average shares were 172.5 mln and
175.9, respectively, after deducting for preferred stock
dividends.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20176" | "21260" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:15:58.15 | ALLIED-SIGNAL INC <ALD> 3RD QTR OPER NET |
Corby Distilleries Ltd said it has
agreed to buy Toronto-based McGuinness Distillers Ltd from
Heublein Inc for about 45 mln dlrs in a move which Corby
expects to add significantly to domestic earnings.
Heublin is a subsidiary of Grand Metropolitan PLC
(GMHL.L).
Corby said McGuinness will remain a seperate business unit
with a seperate sales force.
McGuinness markets liquers, brandy, and other liquors and
has entered the fast-expanding wine cooler market, Corby said.
Corby said it expects to benefit from McGuinness's
succesfull introduction of schnapps and coolers and its
strength in traditional market sectors.
Heublein said the sale does not include McGuinness's
Calona Wines Ltd, a Canadian wine company.
Heublein said it is will still be represented in Canada by
Gilbey Canada Inc. reuter
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20175" | "21261" | [
"canada"
] | [] | [] | [] | 19-OCT-1987 12:14:05.07 | CORBY DISTILLERIES <CDL.TO> TO BUY HEUBLEIN UNIT |
Shr 16 cts vs 13 cts
Net 1,538,000 vs 1,288,000
Sales 35.3 mln vs 29.5 mln
Nine Mths
Shr 27 cts vs 37 cts
Net 2,601,000 vs 3,586,000
Sales 102.0 mln vs 84.2 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20174" | "21262" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:13:55.75 | BURR-BROWN CORP <BBRC.O> 3RD QTR NET |
Shr 1.24 dlrs vs 66 dlrs
Net 38.2 mln vs 20.1 mln
Revs 419.1 mln vs 333.8 mln
Nine mths
Shr 3.50 dlrs vs 1.74 dlrs
Net 107.7 mln vs 53 mln
Revs 1.2 billion vs 940 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20172" | "21264" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:10:52.39 | TEMPLE-INLAND INC <TIN> 3RD QTR NET |
Shr 34 cts vs 26 cts
Net 6,150,000 vs 4,743,000
Revs 61.4 mln vs 49.5 mln
Nine months
Shr 89 cts vs 70 cts
Net 16 mln vs 11.8 mln
Revs 170 mln vs 137.5 mln
NOTE: All share and per share data have been adjusted to
reflect 100 pct stock dividend distrition on April 24, 1987 and
the public offier of two mln shares ofthe company on June 4,
1986.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20171" | "21265" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:09:52.75 | UNIVERSAL FURNITURE LTD <UFURF.O> 3RD QTR NET |
Shr 63 cts vs 49 cts
Net 5,635,000 vs 4,330,000
Sales 117.8 mln vs 96.2 mln
Year
Shr 2.21 dlrs vs 1.71 dlrs
Net 19.8 mln vs 15.2 mln
Sales 465.1 mln vs 388.5 mln
NOTE: Share adjusted for February 1987 three-for-two split.
Prior year results restated.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20170" | "21266" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:09:12.96 | A. SCHULMAN INC <SHLM.O> 4TH QTR AUG 31 NET |
Marathon Petroleum Company, a subsidiary
of USX Corp, said it lowered posted prices for crude oil by 50
cts with an effective date of October 16.
The increase brings posted prices for West Texas
Intermediate and West Texas Sour to 19.00 dlrs a barrel each.
South Louisiana Sweet was increased to 19.35 dlrs a barrel.
Several indepndent oil companies such as Permian Corp and
Coastal Corp <CGP> said they had moved prices up effective last
Friday the day Sun Co <SUN> announced a 50 cts a barrel
increase to 19.00 dlrs a barrel.
Reuter
| "NORM" | [
"crude"
] | "TEST" | "TRAINING-SET" | "20169" | "21267" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:08:43.13 | USX <X> UNIT HIKES CRUDE OIL POSTED PRICES |
Sept 30 end
Primary 76 cts vs 51 cts
Diluted shr 70 cts vs 49 cts
Net 2,802,000 vs 2,030,000
Revs 124.9 mln vs 117.2 mln
Primary avg shrs 3,687,000 vs 4,016,000
Diluted avg shrs 4,786,000 vs 5,101,000
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20165" | "21271" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:05:30.11 | BEARINGS INC <BER> 1ST QTR NET |
Shr 24 cts vs 15 cts
Net 24,057,000 vs 14,508,000
Revs 156.1 mln vs 111.2 mln
Nine mths
Shr 63 cts vs 40 cts
Net 63,183,000 vs 36,464,000
Revs 405.0 mln vs 295.8 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20164" | "21272" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 12:04:51.09 | CHEMICAL WASTE MANAGEMENT INC<CHW> 3RD QTR NET |
"BRIEF" | [
"crude"
] | "TEST" | "TRAINING-SET" | "20162" | "21274" | [] | [] | [] | [] | 19-OCT-1987 12:01:28.02 | MARATHON RAISED CRUDE POSTED PRICES BY 50 CTS A BARREL EFFECTIVE OCTOBER 16. |
|
Oper shr 70 cts vs 18 cts
Oper net 39.1 mln vs 10.0 mln
Sales 543.6 mln vs 489.6 mln
Year
Oper shr 2.83 dlrs vs 1.82 dlrs
Oper net 159.7 mln vs 106.9 mln
Sales 2.13 billion vs 1.94 billion
Avg shrs 56.4 mln vs 58.6 mln
NOTE: Results restated for discontinued engineering
services operations.
Prior year net excludes losses from discontinued operations
of 143,000 dlrs in quarter and 102,156 dlrs in year.
Fiscal 1987 year net excludes 4,081,000 dlr charge from
early debt retirement.
Fiscal 1986 net includes special charges 24.7 mln dlrs in
quarter and 37.2 mln dlrs in year from worgroce reduction
costs, revaluation of South African investment, reversal of
investment tax credits and othe4r items.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20161" | "21275" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:59:55.84 | AIR PRODUCTS AND CHEMICALS INC <APD> 4TH QTR NET |
The Louvre accord on currency stability,
which has maintained an uneasy calm in currency markets since
last February, appeared in serious danger today as a
transatlantic dispute over West German interest rates came to
the boil, foreign exchange dealers said.
But as the dollar slid against the mark and world stock and
bond markets plunged, officials in the major industrial
countries played down the dispute as a bilateral problem
between the United States and West Germany and insisted that
the currency pact was still alive.
U.S. Treasury Secretary James Baker sparked the market
fears when he attacked the rise in West German short-term
interest rates. "That's not in keeping with the spirit of what
we agreed to as recently as earlier this month in Washington,"
Baker said in a U.S. Television interview on Sunday. He was
referring to the meetings of Finance Ministers from the Group
of Seven (G7) leading industrial nations which reaffirmed the
pact.
Under the Louvre Accord West Germany and Japan, who both
have large trade surpluses, pledged to boost their economic
growth to take in more exports from the U.S., While the U.S.
Agreed to stop talking the dollar down.
However, Baker said on Saturday that while the Louvre
agreement was still operative, the West German interest rate
move would force the U.S. To re-examine the accord.
"The foreign exchange market has been told by Baker that
he's going to hammer Germany ... He has just declared all bets
are off in terms of currency cooperation," Chris Johns, currency
analyst at UBS-Phillips and Drew in London said.
But a Bank of Japan official took a much more sanguine
view, telling Reuters that "the exchange market is apparently
reacting too much, and anyone who sold the dollar on the Baker
comment will regret it later on."
French Finance Minister Edouard Balladur, who hosted the
Louvre meeting, was the only one of the G7 Finance Ministers to
respond directly to Baker's remarks. He called for "a faithful
and firm adherence by all the major industrial countries to the
Louvre accords -- in both their letter and spirit."
Neither the West German Finance Ministry nor the British
Treasury commented on the row.
But a Japanese Finance Ministry official said that despite
U.S. Frustration over higher interest rates abroad, "this does
not represent its readiness to scrap the basic framework of the
Louvre Accord."
In Frankfurt F. Wilhelm Christians, joint chief executive
of West Germany's largest bank, Deutsche Bank, said that
following recent meetings with Baker, he believed that the U.S.
Was still committed to the accord.
In a move which the market interpreted as a possible
gesture of reconciliation, the Bundesbank added short-term
liquidity to the West German money market at 3.80 pct on
Monday, down from the 3.85 pct level at which it injected
medium-term liquidity last week. The Bank of France also
stepped into the French money market to hold down rates,
injecting short-term liquidity at 7-3/4 pct after rates rose
close to eight pct.
Reuter
| "NORM" | [
"money-fx"
] | "TEST" | "TRAINING-SET" | "20159" | "21277" | [
"france",
"west-germany",
"usa",
"japan"
] | [
"james-baker",
"balladur"
] | [] | [] | 19-OCT-1987 11:59:35.68 | TRANSATLANTIC ROW IMPERILS LOUVRE ACCORD-DEALERS |
Northview Corp said it reached
an agreement in principal covering the acquisition of the
company by privately-held Calmark Financial Corp.
The agreement calls for Northview to make a self-tender
offer for all of its outstanding stock at a price of 22 dlrs
per share in cash.
Calmark, headquartered in Los Angeles, develops, manages
and syndicates real estate, Northview also said.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20158" | "21278" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:59:27.61 | NORTHVIEW <NOVC.O> PLANS TO SELL COMPANY |
Shr 80 cts vs 70 cts
Shr diluted 76 cts vs 67 cts
Qtly div 33 cts vs 33 cts prior
Net 7,879,000 vs 7,007,000
Nine mths
Shr 2.33 dlrs vs 2.01 dlrs
Shr diluted 2.22 dlrs vs 1.92 dlrs
Net 23.0 mln vs 20.0 mln
Avg shrs 9,890,148 vs 10.0 mln
NOTE: Dividend pay Dec 10, record Nov 20.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20155" | "21281" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:57:34.73 | UNION NATIONAL CORP <UNBC.O> 3RD QTR NET |
"BRIEF" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20154" | "21282" | [] | [] | [] | [] | 19-OCT-1987 11:57:14.61 | CORBY DISTILLERIES LTD TO BUY HEUBLEIN'S MCGINNESS DISTILLERS FOR 45 MLN CANADIAN DLRS |
|
Aug 31
Shr loss 34 cts vs profit 39 cts
Net loss 2,337,000 vs profit 2,532,000
Revs 66.1 mln vs 58.5 mln
Avg shrs 7,166,000 vs 6,763,000
12 months
Shr profit 26 cts vs loss 1.20 dlrs
Net profit 1,815,000 vs loss 7,927,000
Revs 264.3 mln vs 229.7 mln
Avg shrs 7,005,000 vs 6,621,000
NOTE: Results include pretax restructuring provisions of
4.2 mln dlrs and 22.5 mln dlrs for 1987 and 1986, respectively.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20153" | "21283" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:57:10.49 | AMCAST INDUSTRIAL CORP <ACST.O> 4TH QTR LOSS |
The Federal Reserve entered the
government securities market to arrange three-day system
repurchase agreements, a spokesman for the New York Fed said.
Federal funds were trading at 7-5/8 pct at the time of the
direct injection of temporary reserves, dealers said.
Reuter
| "NORM" | [
"interest"
] | "TEST" | "TRAINING-SET" | "20151" | "21285" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:55:16.35 | FED ARRANGES THREE-DAY SYSTEM REPOS |
Shr profit three cts vs profit one ct
Net profit 129,082 vs profit 36,099
Revs 3,864,187 vs 1,875,919
Nine Mths
Shr loss six cts vs profit two cts
Net loss 303,581 vs profit 110,311
Revs 9,517,242 vs 5,248,105
NOTE: Prior qtr and nine mth figures include extraordinarycredits of 15,000 dlrs and 48,000 dlrs, respectively.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20150" | "21286" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:55:07.04 | DATACOPY CORP <DCPY.O> 3RD QTR NET |
A shareholder group led by Barris
Industries Inc <BRSS.O> said it acquired a 9.8 pct stake in
Media General Inc Class A common stock and may seek seek
contorl of the company.
In a filing with the Securities and Exchange Commission,
the group said it holds 2,711,000 shares of Media General
commons stock purchased at a total cost of about 108.3 mln
dlrs.
In addition to the possible bid for control, the group said
it may purchase additional Media General shares or possibly
seek one or more seats on the company's board of directors
through a proxy contest.
A bid for control of Media General would be subject to "a
recapitalization or possible restructuring and to possible
changes in the charter documents and by-laws of the company,"
it said.
The group said it had held discussions with third parties
to gauge their interest in joining the shareholder group, but
no agreements were reached.
Talks with third parties are expected to continue, the
shareholder group said.
Between October 13 and 16, Barris Industries bought
1,322,200 shares of Media General Class A common stock 42.50
dlrs to 45.50 dlrs a share in open market transactions, and
another 12,000 shares privately.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20149" | "21287" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:53:06.11 | MEDIA GENERAL <MEG> HOLDERS MAY SEEK CONTROL |
S-K-I Ltd and <Goldmine Ski
Associates Inc> said they reached an agreement calling for
S-K-I to buy Goldmine's California ski area for approximately
10 mln dlrs.
S-K-I, which owns Killlington and Mount Snow ski resorts in
Vt., said the California ski area is located in the San
Bernardino mountains.
The company said it plans to invest approximately 10 mln
dlrs into the ski area in the next few years.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20145" | "21291" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:51:14.33 | S-K-I <SKII.O> TO BUY CALIFORA SKI AREA |
Westin Hotels and Resorts, a subsidiary
of Allegis Corp, said it will hold a press conference on
October 21 near San Francisco to discuss the pending sale of
the 61-hotel chain by Allegis.
Allegis has said that it plans to sell Westin buyt has not
announced that a deal has been set.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20144" | "21292" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:50:47.86 | ALLEGIS'<AEG>WESTIN SETS NEWS CONFERENCE ON SALE |
Mining group Boliden AB said it had
agreed with Saudi state agency General Petroleum and Mineral
Organisation (Petromin) to open a gold mine in Saudi Arabia to
exploit one of the world's richest deposits of the metal.
Boliden spokesman Goran Paulson told Reuters the Swedish
group would be responsible for the technical side of the
operation and would have no control over the product itself.
He said one option under discussion for refining the gold
ore would be to ship it to Boliden's Ronnskar copper smelter in
northern Sweden.
Paulson declined to give a figure for the deal but said it
was strategically important since it increased Boliden's
presence in Saudi Arabia.
"Representatives from Petromin have visited Ronnskar
already...We see Saudi Arabia as the expansion area of the
future," he said.
The new mine, which is being developed at Mahd adh Dhahab
in the west of the country and should open in the first half of
1988, would have an annual output of about 3,000 kilos of gold
smelted from around 120,000 tons of ore, he said.
Boliden already owns 50 pct of a gold ore deposit in Saudi
Arabia, but the new venture will be the first Saudi mine to
open in modern times.
"This is a breakthrough for Boliden's sales of mining
technology and knowhow," said the group's chief executive, Kjell
Nilsson.
Reuter
| "NORM" | [
"gold"
] | "TEST" | "TRAINING-SET" | "20143" | "21293" | [
"sweden",
"saudi-arabia"
] | [] | [] | [] | 19-OCT-1987 11:50:42.77 | SWEDEN'S BOLIDEN TO OPEN SAUDI ARABIAN GOLD MINE |
Shr profit 32 cts vs profit nine cts
Net profit 413,000 vs profit 63,000
Avg shrs 1,278,360 vs 728,476
Nine Mths
Shr profit 68 cts vs loss 57 cts
Net profit 708,000 vs loss 415,000
Avg shrs 1,041,697 vs 728,476
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20141" | "21295" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:50:11.02 | AMERICAN REPUBLIC BANCORP <ARBC.O> 3RD QTR NET |
Cal Fed Income Partners L.P. said it
has acquired two shopping centers for a total price of 18.4 mln
dlrs.
The company said it bought Best Plaza Shopping Center in
Pleasanton, Calif., For 12 mln dlrs and Bristol Place Shopping
Center in Santa Ana, Calif., for 16.4 mln dlrs.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20139" | "21297" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:49:49.58 | CAL FED INCOME <CFI> BUYS TWO SHOPPING CENTERS |
Shr 1.05 dlrs vs 74 cts
Net 5,244,000 vs 3,684,000
Nine Mths
Shr 2.93 dlrs vs 2.14 dlrs
Net 14.6 mln vs 10.6 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20138" | "21298" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:49:28.82 | FIRSTIER FINANCIAL INC <FRST.O> 3RD QTR NET |
Shr loss primary 82 cts vs profit 15 cts
Shr loss diluted 82 cts vs 13 cts
Net loss 4,134,000 vs profit 649,000
Avg shrs 5,030,000 vs 3,927,000
Nine Mths
Shr loss primary 80 cts vs profit 37 cts
Shr loss diluted 80 cts vs 32 cts
Net loss 3,615,000 vs profit 1,652,000
Avg shrs 4,557,000 vs 3,927,000
Loans 231.2 mln vs 221.5 mln
Deposits 323.3 mln vs 281.9 mln
Assets 368.3 mln vs 346.5 mln
Note: Prior qtr and nine mth figures include operating loss
carryforward gains of 105,000 dlrs, or two cts per share and
195,000 dlrs, or four cts per share, respectively.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20136" | "21300" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:46:14.43 | SOUTHWEST BANCORP <SWB> 3RD QTR LOSS |
Shamrock Capital L.P, a limited
partnership led by Shamrock Holdings Inc, said it completed its
sale of Central Soya Co Inc to Ferruzzi Agricola Finanziaria of
Italy.
Under terms of the sale agreement, which was announced on
September 15, Ferruzzi acquired all the equity in Central Soya
and assumed subordinated term debt of about 195 mln dlrs in a
transaction valued at about 370 mln dlrs.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20135" | "21301" | [
"usa",
"italy"
] | [] | [] | [] | 19-OCT-1987 11:45:59.81 | SHAMROCK CAPITAL COMPLETES CENTRAL SOYA SALE |
Shr 1.02 dlrs vs 96 cts
Net 55.6 mln vs 53.2 mln
Revs 1.3 billion vs 1.2 billion
Nine mths
Shr 3.13 dlrs vs 2.88 dlrs
Net 171.3 mln vs 159.0 mln
Revs 3.8 billion vs 3.5 billion
NOTE: 1987 3rd qtr and nine mths includes one time
after-tax charge of 14.3 mln dlrs or 26 cts a share for
previously announced anticipated sale in the fourth quarter of
an investment in Equatorial Communications Co.
1986 amounts restated, increasing net by four cts a share,
for change in pension expense accounting.
Backlog on September 30, 1987 was 9.3 billion dlrs, which
company said was a record.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20134" | "21302" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:45:45.01 | MARTIN MARIETTA <ML> 3RD QTR NET |
The West German government assumes that the
commitment to international monetary cooperation which was
renewed in Washington last month will continue, a Finance
Ministry spokesman quoted Finance Minister Gerhard Stoltenberg
as saying.
Stoltenberg's statement was a reaction to criticism of
rises in West German interest rates voiced by U.S. Treasury
Secretary James Baker over the weekend.
Reuter
| "NORM" | [
"money-fx"
] | "TEST" | "TRAINING-SET" | "20133" | "21303" | [
"west-germany"
] | [
"stoltenberg",
"james-baker"
] | [] | [] | 19-OCT-1987 11:45:19.93 | STOLTENBERG ASSUMES COOPERATION WILL CONTINUE |
"BRIEF" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20129" | "21307" | [] | [] | [] | [] | 19-OCT-1987 11:39:12.99 | BARRIS IND. SAYS IT LEADS GROUP WITH 9.8 PCT OF MEDIA GENERAL, MAY SEEK CONTROL |
|
Shr not given
Net loss 69.0 mln vs profit 3,682,000
Revs 258.3 mln vs 229.6 mln
Six mths
Shr loss 58.8 mln vs profit 13.3 mln
Revs 517.9 mln vs 466.5 mln
NOTE: Company recently spun off from Carter Hawley Hale
Stores Inc <CHH>. Current year net both periods includes 40.8
mln dlrs in pretax charges from Carter Hawley Hale
restructuring.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20128" | "21308" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:38:19.76 | NEIMAN-MARCUS GROUP INC <NMG> 2ND QTR AUG 2 LOSS |
Arizona Silver Corp
said diamond drilling on its Burro Creek Mine Property, located
65 miles southeast of Kingman, Ariz., has begun.
The company said a report indicated that the Burro Creek
project area which covers 800 acres, could have potential
reserves of three to four mln tons of gold and silver
mineralization.
Drill sites have been established and a diamond drilling
program consisting of an initial 5,000 feet of drilling began
October 13, the company said.
Reuter
| "NORM" | [
"silver",
"gold"
] | "TEST" | "TRAINING-SET" | "20122" | "21314" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:34:39.10 | ARIZONA SILVER <ASC> REPORTS ON BURRO CREEK |
Shr 50 cts vs 35 cts
Net 42.7 mln vs 29.9 mln
Revs 236.5 mln vs 218.2 mln
Nine mths
Shr 1.24 dlrs vs 1.02 dlrs
Net 105.8 mln vs 86.9 mln
Revs 702.5 mln vs 642.5 mln
NOTE: 1987 nine-month earnings include nonrecurring gain of
nine cents a share from sale of the company's Data Card
investment.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20121" | "21315" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:33:59.19 | DELUXE CHECK PRINTERS INC <DLX> 3RD QTR NET |
Transamerica Insurance Group, the
main property-liability insurance operation of Transamerica
Corp, said it signed a definitive agreement to acquire a
newly-formed insurer, Commerical Risk Underwriters Insurance
Co, from <Clarendon Group Ltd>.
Transamerica said the unit, which will be renamed
Transamerica Reinsurance Co, will initially be capitalized at
about 185 mln dlrs.
Transamerica said the acquisition represents its first move
into specialty treaty reinsurance.
The company said about 28 members of Clarendon will join
Transamerica as part of the acquisition, which is expected to
close in November and is subject to various regulatory
approvals.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20118" | "21318" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:31:48.49 | TRANSAMERICA <TA> UNIT BUYS REINSURANCE UNIT |
A group of firms led by Hong
Kong-based Industrial Equity (Pacific) Ltd, said it acquired
969,515 shares of Triton Oil Corp common stock, or 5.4 pct of
the company's common stock outstanding.
Industrial Equity (Pacific), which is controlled by
Brierley Investments Ltd <BRYW.WE> and which has applied with
U.S. antitrust regulators to buy up to 50 pct of Triton's
common stock, said the current 5.4 pct stake was acquired for
investment purposes.
The company said it informed Triton of its present "good
faith intention" to buy more than 15 mln dlrs worth of Triton
stock.
It said it also told Triton it "may depending on market
conditions acquire 50 pct or more and possibly 100 pct of the
voting securities of (Triton)."
It said it received clearance to buy up to 50 pct of the
stock on September 11.
Industrial Equity (Pacific) reported it bought 250,000
shares of Triton common stock on October 8 at 22.50 dlrs a
share.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20117" | "21319" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:30:57.50 | INDUSTRIAL EQUITY HAS 5.4 PCT OF TRITON <OIL> |
British Sugar Plc was forced to shut its
Ipswich sugar factory on Sunday afternoon due to an acute
shortage of beet supplies, a spokesman said, responding to a
Reuter inquiry
Beet supplies have dried up at Ipswich due to a combination
of very wet weather, which has prevented most farmers in the
factory's catchment area from harvesting, and last week's
hurricane which blocked roads.
The Ipswich factory will remain closed until roads are
cleared and supplies of beet build up again.
This is the first time in many years that a factory has
been closed in mid-campaign, the spokesman added.
Other factories are continuing to process beet normally,
but harvesting remains very difficult in most areas.
Ipswich is one of 13 sugar factories operated by British
Sugar. It processes in excess of 500,000 tonnes of beet a year
out of an annual beet crop of around eight mln tonnes.
Despite the closure of Ipswich and the severe harvesting
problems in other factory areas, British Sugar is maintaining
its estimate of sugar production this campaign at around 1.2
mln tonnes, white value, against 1.34 mln last year, the
spokesman said.
British Sugar processes all sugar beet grown in the U.K.
The sugar beet processing campaign, which began last month,
is expected to run until the end of January. Sugar factories
normally work 24 hours a day, seven days a week during the
campaign.
As of October 11, 12 pct of the U.K. Sugar crop had been
harvested, little different to the same stage last year when 13
pct had been lifted. Since then, however, very wet weather has
severely restricted beet lifting.
Harvesting figures for the week to October 18 are not yet
available.
Reuter
| "NORM" | [
"sugar"
] | "TEST" | "TRAINING-SET" | "20115" | "21321" | [
"uk"
] | [] | [] | [] | 19-OCT-1987 11:26:43.58 | UK SUGAR FACTORY CLOSES DUE TO SHORTAGE OF BEET |
Shr 57 cts vs not given
Net 6,889,000 vs 10.7 mln
Nine mths
Shr 1.67 dlrs vs not given
Net 20.1 mln vs 23.0 mln
NOTE: Company went public in November 1986.
1986 net both periods includes 5,642,000 dlr pretax gain on
sale of branches.
Net includes securities and loan sales loss 90,000 dlrs
pretax vs gain 46,000 dlrs in quarter and gains 1,213,000 dlrs
vs 2,605,000 dlrs in nine mths and loan losxs provisions
125,000 dlrs vs 30,000 dlrs in quarter and 275,000 dlrs vs
90,000 dlrs in nine mths.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20114" | "21322" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:25:47.35 | HOME SAVINGS BANK OF BROOKLYN <HMSB.O> 3RD QTR |
"BRIEF" | [
"money-fx"
] | "TEST" | "TRAINING-SET" | "20113" | "21323" | [] | [
"stoltenberg"
] | [] | [] | 19-OCT-1987 11:24:57.62 | Stoltenberg says he assumes monetary cooperation will continue |
|
Shr eight cts vs six cts
Net 22 mln vs 18 mln
Revs 994 mln vs 910 mln
Nine mths
Shr 19 cts vs 20 cts
Net 55 mln vs 54 mln
Revs 2.9 billion vs 2.7 billion
NOTE: 1987 3rd qtr and nine mths include pre-tax gains of
from antitrust settlement of 2,000,000 dlrs and 6,000,000 dlrs
respectively.
3rd qtr 1986 includes pre-tax gain of 65 mln dlrs from sale
of MCI Airsignal subsidiary, and after-tax extraordinary loss
of 17 mln dlrs from early redemption of 9-1/2 pct subordinated
notes.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20112" | "21324" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:24:49.78 | MCI COMMUNICATIONS CORP <MCIC.O> 3RD QTR NET |
Shr 1.03 dlrs vs 88 cts
Net 59.5 mln vs 51.9 mln
Revs 641.7 mln vs 557.8 mln
Avg shrs 57.4 mln vs 59.0 mln
Nine mths
Shr 2.51 dlrs vs 2.14 dlrs
Net 145.2 mln vs 126.4 mln
Revs 1.71 billion vs 1.47 billion
Avg shrs 57.8 mln vs 59.0 mln
NOTE: 1986 figures restated to reflected change in
accounting methods related to pension expenses.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20111" | "21325" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:23:13.94 | STERLING DRUG INC <STY> 3RD QTR NET |
Shr 1.16 dlrs vs 1.19 dlrs
Net 151.4 mln vs 152.4 mln
Revs 1.31 billion vs 1.17 billion
Avg shrs 130.0 mln vs 127.6 mln
12 mths
Shr 3.03 dlrs vs 2.85 dlrs
Net 392.7 mln vs 353.0 mln
Revs 4.32 billion vs 4.14 billion
Avg shrs 129.8 mln vs 123.9 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20106" | "21330" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:19:49.05 | FPL GROUP INC <FPL> 3RD QTR NET |
"BRIEF" | [
"interest"
] | "TEST" | "TRAINING-SET" | "20105" | "21331" | [] | [] | [] | [] | 19-OCT-1987 11:19:05.04 | French 13-week T-Bill rate rises to 8.54 pct from 7.65 -- Bank of France |
|
International Multifoods Corp
said it filed a suit charging Bregman Partners and its
affiliates unlawfully planned to acquire control of the
company.
In a suit filed in U.S. District Court, International
Multifoods said Bregman Partners and its affiliates, who
reportedly hold 7.4 pct of the company's shares, tried to
induce Multifood's management to join them in an effort to take
the company private and give controlling interest to Bregman
Partners. Bregman Partners include the interests of the
Belzberg families of Canada.
The complaint also discloses that on each occasion,
Multifoods management rejected the group's overtures.
Multifoods is asking Bregman's group to divest its shares
in open market sales in a manner not to further disrupt the
market place, according to the suit. The suit seeks
compensatory and punitive damages in an amount to be
determined.
In addition, Multifoods is seeking to stop Bregman Partners
from acquiring any more stock, or voting the shares it
reportedly owns, the suit said.
According to Multifoods, the actions proposed by Bregman
Partners would prevent shareholders from realizing the full
benefits of the company's restructuring.
In the past three years, Multifoods has substantially
altered its domestic business mix by divesting its U.S.
consumere foods operations and emphasizing growth in selected
segments of the U.S. foodservice industry.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20103" | "21333" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:17:31.46 | MULTIFOODS <IMC> FILES SUIT AGAINST BREGMAN |
Shr 47 cts vs 48 cts
Net 505.0 mln vs 533.0 mln
Revs 8.47 billion vs 8.43 billion
Nine mths.
Shr 1.42 dlrs vs 1.16 dlrs
Net 1.55 billion vs 1.31 billlion
Revs 25.0 billion vs 25.56 billion
NOTE: Full name is American Telephone and Telegraph Co.
NOTE: Prior quarter and nine mth net reduced by 25 mln
dlrs, or two cts per share, for estimated costs to reduce
workforce and consolidate various facilities. Prior qtr and
nine mths include pretax gain of 73 mln dlrs from damages paid
by Republic of Iran and pretax gain of 40 mln dlrs from change
in company's ownership in ING C. Olivetti SpA. After tax these
gains added 68 mln dlrs, or six cts per shr, to net income.
Prior qtr and nine mth results were previously restated to
reflect a change in depreciation methods that reduced net
income by 175 mln dlrs, or 16 cts per share.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20100" | "21336" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:14:59.34 | AT AND T <T> 3RD QTR NET |
Shr loss 13 cts vs loss 20 cts
Net loss 1,343,266 vs loss 2,086,086
Revs 82.3 mln vs 80.3 mln
Year
Shr loss 1.83 dlrs vs profit 1.24 dlrs
Net loss 19.2 mln vs profit 13.4 mln
Revs 388.1 mln vs 370.3 mln
NOTE: 1987 year includes charge 15.0 mln dlrs pre-tax for
inventory valuation allowance.
1987 year also includes charge 12.8 mln dlrs from
discontinued operations.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20099" | "21337" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:13:23.84 | GORDON JEWELRY CORP <GOR> 4TH QTR AUG 31 LOSS |
West German government sources said Bonn
remained committed to the Louvre Accord to stabilise
currencies, which was struck by leading western democracies in
Paris last February.
Over the weekend, U.S. Treasury Secretary James Baker
criticised recent rises in West German short-term interest
rates and said such developments were not in the spirit of the
Louvre pact. He said the agreement may have to be re-examined.
The sources said the West German interest rate rises had to
be seen in the context of interest rate developments worldwide.
Reuter
| "NORM" | [
"money-fx"
] | "TEST" | "TRAINING-SET" | "20097" | "21339" | [
"west-germany"
] | [
"james-baker"
] | [] | [] | 19-OCT-1987 11:11:56.07 | WEST GERMANY STILL COMMITTED TO LOUVRE ACCORD |
Federal Deposit Insurance Corp Chairman
William Seidman said he would be concerned about the impact on
banks of a further sharp rise in interest rates.
However, Seidman, attending the American Bankers
Association convention, said he did not expect rates to rise
much higher and said the outlook for the U.S. economy and for
banking was sound.
"The potential for greater interest rate rises gives us
concern. We see nothing right now in the outlook that causes us
to believe rates are going much higher or that the economy is
not sound," Seidman told a news conference.
Reuter
| "NORM" | [
"interest"
] | "TEST" | "TRAINING-SET" | "20094" | "21342" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:09:59.74 | FDIC'S SEIDMAN SAYS HIGHER RATES COULD HARM BANKS |
The Federal Reserve is expected to enter
the government securities market to supply reserves to the
banking system via system repurchase agreements, economists
said.
Most economists said the Fed would execute three-day system
repurchases to meet a substantial need to add reserves in the
current maintenance period, although some said a more
aggressive add via overnight system repos was possible.
Federal funds opened at 7-5/8 pct and remained at that
level late this morning, compared with an average effective
rate of 7.55 pct Friday.
Reuter
| "NORM" | [
"money-fx"
] | "TEST" | "TRAINING-SET" | "20093" | "21343" | [] | [] | [] | [] | 19-OCT-1987 11:09:28.53 | FED SEEN ADDING RESERVES VIA SYSTEM REPOS |
Shr 40 cts vs 54 cts
Net 4,442,000 vs 6,375,000
Sales 102.8 mln vs 102.5 mln
Avg shrs 11.1 mln vs 11.6 mln
NOTE: Share adjusted for August 1987 five-for-four split.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20090" | "21346" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:06:38.17 | STANDARD PRODUCTS CO <SPD> 1ST QTR SEPT 30 NET |
Shr 17 cts vs 37 cts
Net 1,783,000 vs 4,028,000
Nine mths
Shr 52 cts vs 1.03 dlrs
Net 5,587,000 vs 11.1 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20086" | "21350" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:02:54.96 | BANKEAST CORP <BENH.O> 3RD QTR NET |
Shr 30 cts vs 12 cts
Net 2,191,000 vs 852,000
Sales 106.6 mln vs 102.9 mln
Nine mths
Shr 44 cts vs 40 cts
Net 3,236,000 vs 2,919,000
Sales 297.9 mln vs 297.9 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20084" | "21352" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:02:01.99 | DALLAS CORP <DLS> 3RD QTR NET |
Shr 34 cts vs 62 cts
Net 4,717,000 vs 8,277,000
Revs 213.4 mln vs 158.7 mln
Nine mths
Oper shr 1.18 dlrs vs 1.54 dlrs
Oper net 16.2 mln vs 17.8 mln
Revs 517.2 mln vs 451.4 mln
Avg shrs 13.7 mln vs 11.6 mln
NOTE: 1986 nine mths net exclude204,000 dlr gain from
reversion of pension assets. 1987 net both periods includes
pretax charge 692,000 dlrs from amortization of goodwill.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20082" | "21354" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 11:00:49.52 | ANCHOR GLASS CONTAINER CORP <ANC> 3RD QTR NET |
Shr 90 cts vs 84 cts
Net 185.5 mln vs 171.5 mln
Revs 1.08 billion vs 1.07 billion
Nine mths
Shr 1.85 dlrs vs 1.90 dlrs
Net 378.9 mln vs 389.5 mln
Revs 2.67 billion vs 2.69 billion
12 mths
Shr 2.15 dlrs vs 1.87 dlrs
Net 440.7 mln vs 382.0 mln
Revs 3.47 billion vs 3.47 billion
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20080" | "21356" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:59:38.40 | MIDDLE SOUTH UTILITIES INC <MSU> 3RD QTR NET |
Industrial Equity (Pacific) Ltd, a
Hong Kong-based investment firm leading a group holding 19.1
pct of Calmat Co's common stock, said it intends to submit to
Calmat a proposal for a possible business combination.
In a filing with the Securities and Exchange Commission,
Industrial Equity (Pacific) did not disclose details of the
proposal, but said it would be delivered to Calmat in the near
future.
Industrial Equity (Pacific) "does not intend to remain a
passive investor" in Calmat, the firm told the SEC.
In its SEC filing, Industrial Equity (Pacific) said its
president of North American operations Ronald Langley met with
Calmat officials on October 14 to discuss an acquisition of the
company at a premium over the market price of Calmat stock.
Industrial Equity (Pacific) added it is considering
launching a tender offer for Calmat stock or making a merger
proposal to the company, but said it has not decided whether it
will pursue a Calmat acquisition on a non-negotiated basis.
Industrial Equity (Pacific), which currently holds 5.83 mln
Calmat common shares, said it is also evaluating the company's
recently adopted shareholder rights plan and its potential
effect on Calmat and on possible acquisition proposals made to
the company.
Between October 2 and 14, Industrial Equity (Pacific)
bought 918,900 shares of Calmat common stock at 33 dlrs to
37.55 dlrs a share, or a total of about 33.8 mln dlrs.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20079" | "21357" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:58:31.75 | INDUSTRIAL EQUITY TO MAKE PROPOSAL TO CALMAT<CZM> |
Kaiser Steel Corp's plant in Napa,
Calif, has been purchased by Oregon Steel Mills for 16 mln
dlrs, the privately owned Portland company said.
The transaction was approved by the U.S. bankruptcy judge
in Denver who is hearing Kaiser Steel's Chapter 11
reorganization case.
James Mccaughey, former vice president of sales for Kaiser,
has been named general manager for the plant, which will be
called Napa Pipe Corp, Oregon Steel said.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20078" | "21358" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:57:38.91 | OREGON STEEL BUYS KAISER'S NAPA VALLEY PLANT |
Shr primary 68 cts vs 34 cts
Shr diluted 65 cts vs 34 cts
Net 129.7 mln vs 52.9 mln
Revs 2.22 billlion vs 2.42 billion
Avg shrs primary 152.1 mln vs 147.1 mln
Avg shrs diluted 199.8 mln vs 147.1 mln
Nine mths
Shr primary 1.89 dlrs vs 1.00 dlrs
Shr diluted 1.84 dlrs vs 1.00 dlrs
Net 361.1 mln vs 145.1 mln
Revs 6.91 billion vs 4.90 billion
Avg shrs primary 151.0 mln vs 146.4 mln
Avg shrs diluted 198.7 mln vs 146.4 mln
NOTE: Earnings per share for 1986 have been restated to
reflect 3-for-1 split effective July 8, 1987.
Results for three and nine mths 1986 includes results from
July 1, 1986, of Sperry Corp, acquired on Sept 16, 1986, with
net income reflecting ownership in Sperry of about 51 pct for
the months of July and August, and 100 pct for the month of
Sept 1986.
Revenue for 1986 periods reflects reclassification of
revenue of divested Sperry operations to other income with no
effect on net income.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20077" | "21359" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:57:04.52 | UNISYS CORP <UIS> 3RD QTR NET |
Shr 24 cts vs 26 cts
Net 959,000 vs 1,033,000
Assets 273.6 mln vs 236.3 mln
Deposits 183.6 mln vs 173.9 mln
Loans 133.3 mln vs 104.9 mln
NOTE: Full name of company is Woburn Five Cents Savings
Bank.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20076" | "21360" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:55:34.73 | WOBURN FIVE CENTS SAVINGS <WOBS.O> 1ST QTR NET |
Shr 59 cts
Qtly div eight cts vs eight cts prior
Net 1,675,000 vs 1,302,000
Assets 613.3 mln vs 603.5 mln
Deposits 523.7 mln vs 517.8 mln
Loans 469.2 mln vs 449.5 mln
NOTE: 1986 per share figures not available because bank
converted to stock ownership Dec 18, 1986. Dividend payable Dec
11 to shareholders of record Nov 13. Full name of company is
First Federal Savings and Loan Association of Chattanooga.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20074" | "21362" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:54:45.17 | FIRST FEDERAL SAVINGS <FCHT.O> 1ST QTR NET |
Coastal Corp said that effective October
16 it had raised posted prices for crude oil by 50 cts a
barrel.
The increase brings West Texas Intermediate to 9.00 dlrs a
barrel and West Texas Sour to 18.10 dlrs a barrel.
Sun Co <SUN> announced that it would make a 50 cts a barrel
increase late Friday bringing WTI to 19.00 dlrs a barrel and
traders said that other oil companies could be expected to
increase prices.
Reuter
| "NORM" | [
"crude"
] | "TEST" | "TRAINING-SET" | "20073" | "21363" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:54:23.33 | COASTAL <CGP> RAISES OIL POSTED PRICES |
An Iowa State University study showed
pork contains considerably less fat than indicated by
long-established U.S. Department of Agriculture statistics, the
National Pork Producers Council (NPPC) said.
Six of the seven muscle cuts evaluated in the study
averaged 4.3 pct fat or less, well below American Heart
Association guidelines for recommended foods. Eighty pct of all
the raw boneless rib chops evaluated in the study contained
less than six pct fat, the NPPC said.
Meanwhile, USDA Handbook 8-10 - long used as the
established authority on nutrient composition, indicates a fat
content for center loin pork of 7.3 pct, the NPPC said.
Robin Kline, a dietitian and Director of Consumer Affairs
for the NPPC said he was not surprised at the wide discrepancy
between the study and the USDA handbook.
"Handbook 8-10 is based to a certain extent on information
that has been accumulated over the past 30 years. The
statistics in it about pork do not reflect the hog of today
which is about 50 pct leaner than it was 20 or 30 years ago,
thanks to genetic improvements and better feeding practices,"
Kline said.
The study, funded by NPPC with producer checkoff money,
evaluated pork carcasses from 47 Iowa producers in categories
from 0.7 to 1.3 inches of backfat. Researchers measured the fat
content of the seven muscles before cooking, and the fat,
moisture and tenderness of cooked boneless rib chops.
Reuter
| "NORM" | [
"livestock",
"carcass",
"hog"
] | "TEST" | "TRAINING-SET" | "20069" | "21367" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:52:24.24 | STUDY SAYS PORK LEANER THAN USDA FIGURES SHOW |
The Soviet Union outlined its economic
targets for 1988 on Monday, stressing the need to improve
standards in the country's sluggish engineering industry.
Planning chief Nikolai Talyzin told the Supreme Soviet
industrial output should rise by 4.5 pct in 1988, up from a
planned 4.4 pct in 1987. It rose 3.6 pct in Jan-Sept 1987.
Talyzin said national income, the nearest Soviet equivalent
to gross national product, should rise by 4.3 pct against a
planned 4.1 pct this year. Gross national product measures the
output of a country's goods and services.
He said the Kremlin planned to produce 235 mln tonnes of
grain in 1988 versus a planned 232 mln this year. Moscow
produced 210 mln tonnes in 1986.
Kremlin leader Mikhail Gorbachev has described
machine-builing as a sector whose rapid modernization is
essential if the Soviet Union is to compete effectively on
world markets.
"Certain difficulties have arisen this year in the
machine-building industry. The economy is not receiving a
considerable amount of the equipment that it requires," said
Talyzin, who heads the state planning committee GOSPLAN.
Soviet data show the machine-building industry, which makes
machine tools, instruments and other engineering goods,
increased output by 3.3 pct in the first nine months of 1987
compared with the same period last year.
However, this was far below the 7.3 pct increase planned
for the industry for the whole of 1988.
Talyzin said the ruling Politburo had concluded at a recent
meeting that an improvement in economic performance depended to
a large extent on conserving resources better. "Large-scale
measures are planned to save resources," he said.
Finance Minister Boris Gostev told the Supreme Soviet that
defense spending in 1988 would total 32 billion dlrs, the same
figure as was announced last year.
Western governments view official Soviet estimates for
defense spending as highly understated, but say the real figure
is hard to calculate because Soviet military industries are
intertwined with the civilian economy.
Talyzin said the Kremlin also decided to increase spending
next year on medical services, education, pensions and social
insurance schemes.
Reuter
| "NORM" | [
"ipi",
"gnp",
"grain"
] | "TEST" | "TRAINING-SET" | "20068" | "21368" | [
"ussr"
] | [] | [] | [] | 19-OCT-1987 10:50:46.56 | SOVIETS OUTLINE 1988 ECONOMIC TARGETS |
The official Soviet news agency Tass
denounced a U.S. Attack on an Iranian oil-drilling platform in
the Gulf on Monday as military adventurism and said it would
bring no dividends to the Reagan administration.
Tass commentator Mikhail Krutikhin said the administration
had embarked on an adventurist path in order to deflect
attention from the scandal in which the United States sold arms
to Iran and the profits were diverted to Nicaraguan rebels.
"The confrontation is a fact now. What is obvious is that
the latest military adventure will not bring political
dividends to the American administration," Krutikhin said.
Soviet leader Mikhail Gorbachev and Foreign Minister Eduard
Shevardnadze abruptly left a parliamentary session earlier on
Monday, sparking diplomatic speculation that they were
concerned with an urgent matter of foreign affairs.
Soviet officials have previously criticized the United
States for sending naval forces into the Gulf, saying their
presence serves to increase tension.
Moscow is officially neutral in the war between Iran and
Iraq. It is a major arms supplier to Iraq but has also sought
broader contacts with Iran in the last year.
Krutikhin said: "The United States has undertaken an act of
armed aggression against Iran, the probability of which has
long been spoken of by Washington officials."
Reuter
| "NORM" | [
"crude"
] | "TEST" | "TRAINING-SET" | "20067" | "21369" | [
"usa",
"iran",
"ussr",
"iraq"
] | [] | [] | [] | 19-OCT-1987 10:50:27.55 | TASS DENOUNCES U.S. ATTACK ON IRAN AS ADVENTURISM |
The International Telecommunications
Union, which regulates communications worldwide, decided at the
end of a five-week conference to allow mobile phone systems to
be linked with satellites, telecommunications officials said.
Until now, car phones have been linked with land stations
and have been limited mainly to urban areas. The new ruling
will make it easier for calls to be made from remote regions.
The meeting, which finished over the weekend, also decided
to allow a "radio determination satellite system," which would
enable fleet owners to trace to within about 15 metres the
movements of their lorries or cars or ships around the world.
Reuter
| "NORM" | [
"ship"
] | "TEST" | "TRAINING-SET" | "20065" | "21371" | [
"switzerland"
] | [] | [] | [] | 19-OCT-1987 10:48:27.92 | WORLD TELECOMS WATCHDOG RELAXES CAR PHONE RULES |
Qtly div nine cts vs nine cts prior qtr
Pay Nov 25
Record Nov 13
Note: Full name is International Research and Development
Corp
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20064" | "21372" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:46:54.22 | INTERNATIONAL RESEARCH <IRDV.O> 3RD QTR PAYOUT |
Shr 57 cts vs 54 cts
Net 39.3 mln vs 37.3 mln
Sales 540.9 mln vs 488.5 mln
Nine mths
Shr 2.30 dlrs vs 1.58 dlrs
Net 158.8 mln vs 108.7 mln
Sales 1.67 billion vs 1.60 billion
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20063" | "21373" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:46:30.51 | ROHM AND HAAS CO <ROH> 3RD QTR NET |
"BRIEF" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20061" | "21375" | [] | [] | [] | [] | 19-OCT-1987 10:44:53.04 | INDUSTRIAL EQUITY TELLS SEC IT WILL SEND CALMAT PROPOSAL FOR BUSINESS COMBINATION |
|
IDC Services Inc said a new company will
begin a cash tender offer by October 26 to acquire all of IDC's
outstanding common for 16 dlrs a share.
The company said the offer is being made under a definitive
agreement reached with the new company, IDC Acquisition Corp,
formed by Apollo Partners Ltd and investment clients of
<Equitable Capital Management Inc>. The agreement calls for the
acquisition of IDC for about 62.4 mln dlrs.
IDC Acquisition will also tender for all of IDC's
outstanding nine pct convertible subordinated debentures.
IDC said the merger agreement also provides for payment of
an equivalent amount in respect of employee stock options to be
cancelled in the merger.
As part of the transaction, the company said, it granted
IDC Acquisition an option to acquire up to 20 pct of the
company's outstanding shares for 16 dlrs per share.
It said the planned tender offer is subject to several
conditions, including the tendering of over 50 pct of the
company's outstanding stock.
MIM Holdings Ltd <MIMA.S>, a substantial shareholder in
IDC, has agreed it will not buy any additional IDC shares until
February seven and has granted IDC Acquisition a right of first
refusal on any IDC shares it sells during that period, the
company said.
It said Apollo Partners was recently organized by three
former senior Viacom Inc <VIA> executives, Terrence A. Elkes,
George C. Catell and Kenneth F. Gorman.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20060" | "21376" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:44:48.48 | IDC SERVICES <IDCS.O> HOLDERS OFFERED 16 DLRS |
Shr 1.30 dlrs vs 1.85 dlrs
Net 100,000,000 vs 144,000,000
Sales 1.90 billion vs 1.69 billion
Nine mths
Shr 5.01 dlrs vs 5.27 dlrs
Net 392,000,000 vs 410,000,000
Sales 5.79 billion vs 5.31 billion
Note: 1986 figures include 63 mln dlrs, or 81 cts a share,
of net gains from facilities and businesses sold, shut down or
impaired, and other non-recurring income and expenses
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20058" | "21378" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:42:46.46 | MONSANTO CO <MTC> 3RD QTR NET |
"BRIEF" | [
"crude"
] | "TEST" | "TRAINING-SET" | "20056" | "21380" | [] | [] | [] | [] | 19-OCT-1987 10:40:19.26 | COASTAL SAID RAISED OIL POSTINGS 50 CTS A BARREL OCTOBER 16. WTI NOW 19.00 DLRS. |
|
IC Industries Inc said its board approved
a second major step in the reorganization and restructuring of
the company.
To implement the plan of sharpening its strategic focus on
consumer goods and services, the company will give serious
consideration to the sale of its Pneumo Abex, its aerospace and
defense company, if it can realize a price which will return
maximum value to shareholders.
In 1986, Pneumo Abex had operating income of 118.1 mln dlrs
on sales of 900.5 mln dlrs.
IC said it will use the proceeds of any asset sale to
invest in new high-return businesses in the consumer goods and
services field.
The company said it authorized a program to repurchase
between 500 mln dlrs and 1.0 billion dlrs of IC's common stock
from time to time when conditions warrant.
It also said it will begin an immediate cost-reduction
program to cust annual operating expenses by 50 mln dlrs.
An IC spokesman said the cost-reduction program involved
"across-the-board" cuts rather than specific about targeted
areas.
IC's board earlier approved a plan to spin off the
company's Illinois Central Gulf Railroad to shareholders. The
company's other major subsidiaries are Pet Inc, Pepsi-Cola
General Bottlers, Midas International Corp and Hussmann Corp.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20054" | "21382" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:39:52.69 | IC INDUSTRIES <ICX> MAY SELL AEROSPACE UNIT |
Shr 1.92 dlrs vs 58 cts
Net 27.9 mln vs 9,480,000
Sales 176.4 mln vs 137.9 mln
Nine mths
Shr 3.87 dlrs vs 1.69 dlrs
Net 56.7 mln vs 27.6 mln
Sales 505.6 mln vs 438.5 mln
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20051" | "21385" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:38:48.10 | GEORGIA GULF CORP <GGLF.O> 3RD QTR NET |
Shr loss 2.20 dlrs vs profit 24 cts
Net loss 75.8 mln vs profit 11.6 mln
Avg shrs primary 35.9 mln vs 36.5 mln
Avg shrs diluted 39.3 mln vs 39.9 mln
Nine mths
Shr primary loss 7.04 dlrs vs profit 1.69 dlrs
Shr diluted loss 7.04 dlrs vs profit 1.64 dlrs
Avg shrs primary 35.9 mln vs 37.2 mln
Avg shrs diluted 39.3 mln vs 46.6 mln
Net loss 243.4 mln vs profit 72.2 mln
Assets 33.4 billion vs 34.1 billion
Loans 10.8 billion vs 12.0 billion
Deposits 16.9 billion vs 17.0 billion
NOTE: Net includes FSLIC sepcial assessment loss of
5,429,000 vs 5,193,000 in qtr 1987 vs 1986, and 16.3 mln vs
16.0 mln in nine mths 1987 vs 1986.
Net includes gain from sale of mortgage-backed securities
and loans of 12.4 mln vs 93.4 mln, and 139.7 mln vs 264.0 mln
in nine mths 1987 vs 1986.
Net includes gain from sale of investments of 64,000 in qtr
1987, and 157,000 vs 1,231,000 in nine mths 1987 vs 1986.
Net includes provision for losses and discounts of 70.4 mln
vs 76.2 mln in qtr 1987 vs 1986, and 315.7 mln vs 161.7 mln in
nine mths 1987 vs 1986.
Nine mths 1987 included write off of FSLIC secondary
reserve of 22.7 mln.
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20050" | "21386" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:37:33.06 | FINANCIAL CORP OF AMERICA <FIN> 3RD QTR LOSS |
Arnox Corp said a special
committee of its board is continuing talks with <TXL Corp> on
the terms of TXL's offer to acquire Arnox at 10 dlrs per share.
It said TXL has arranged preliminary financing.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20049" | "21387" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:36:44.23 | ARNOX <ARNX.O> STILL IN MERGER TALKS WITH TXL |
shr profit 1.18 dlrs vs profit 1.15 dlrs
net profit 219.2 mln vs profit 211.5 mln
nine mths
shr loss 84 cts vs profit 3.72 dlrs
net loss 140.8 mln vs profit 682.4 mln
assets 79.69 billion vs 71.99 billion
loans 33.93 billion vs 35.33 billion
deposits 45.68 billion vs 41.22 billion
NOTE: 1987 nine mths include previously reported 875 mln
dlr addition to loan loss reserve in 2nd qtr for ldc debts
Reuter
| "NORM" | [
"earn"
] | "TEST" | "TRAINING-SET" | "20048" | "21388" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:36:18.85 | J.P. MORGAN AND CO INC <JPM> 3RD QTR NET |
Australian Minister for Trade
Negotiations Michael Duffy said his country and Third World
commodity producers have formed an effective lobby group
against farm export subsidies and market access restrictions.
Duffy told a press conference the Cairns Group of 14 major
agricultural producers, to which Australia and Thailand belong,
has emerged as an important third force in any multilateral
trade talks. "There's no doubt that the Cairns Group is being
seen as a third force to be reckoned with both inside the
General Agreement on Tariffs and Trade and in other
international trade negotiations," he said.
Duffy, here on a three-day visit after talks in the United
States, The European Community (EC) and Latin America, said
considerable progress has been made by the group towards
fighting costly protectionist policies pursued by developed
countries.
The minister said the EC Commission's new farm trade paper
will recognise the heavy financial burdens imposed by its
Common Agricultural Policy and its future expansion.
He said the Reagan Administration has also displayed a
determination to resist the currently strong protectionist
sentiment in the U.S. Congress.
Reuter
| "NORM" | [
"trade"
] | "TEST" | "TRAINING-SET" | "20045" | "21391" | [
"thailand",
"australia"
] | [] | [
"gatt",
"ec"
] | [] | 19-OCT-1987 10:33:57.68 | CAIRNS GROUP SAID INFLUENTIAL IN TRADE TALKS |
Turkey's current account deficit widened
in July to 674 mln dlrs from 454 mln in June but fell from 1.22
billion in July last year, the State Statistics Institute said.
The cumulative trade position in July showed a 1.85 billion
dlr deficit after 1.33 billion in June and 1.89 billion a year
earlier, with exports at 4.91 billion and imports, both FOB, at
6.76 billion.
The government aims to narrow the current account deficit
for the whole of 1987 to 975 mln dlrs, compared with 1.52
billion last year, up from 1.01 billion in 1985.
Bankers forecast the 1987 deficit will exceed one billion
dlrs, because a spurt in exports is expected to slow
considerably in the last five months following a massive
drawdown of inventories.
REUTER
| "NORM" | [
"bop",
"trade"
] | "TEST" | "TRAINING-SET" | "20044" | "21392" | [
"turkey"
] | [] | [] | [] | 19-OCT-1987 10:32:01.15 | TURKEY CURRENT ACCOUNT DEFICIT WIDENS IN JULY |
IBC Acquisition Corp said it received
about 8,857,807 Interstate Bakeries Corp shares in response to
its tender offer for up to 8,053,181 shares that expired
October 16, and it will purchase about 90.9 pct of the shares
tendered.
It said a final proration factor should be announced and
payment for shares start October 26.
IBC is made up of Interstate management, First Boston Inc
<FBC> and George K. Braun and Co.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20043" | "21393" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:30:23.09 | IBC'S INTERSTATE BAKERIES<IBC>BID OVERSUBSCRIBED |
<Kaiser Steel Corp>'s plant in
Napa, Calif., has been purchased by Oregon Steel Mills for 16
mln dlrs, the privately owned Portland company said.
The transaction was approved by the U.S. bankruptcy judge
in Denver who is hearing Kaiser Steel's Chapter 11
reorganization case.
James Mccaughey, former vice president of sales for Kaiser,
has been named general manager for the plant which will be
called Napa Pipe Corp, Oregon Steel said.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20042" | "21394" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:30:01.20 | OREGON STEEL BUYS KAISER'S NAPA VALLEY PLANT |
Carson Pirie Scott and Co said it plans
to start mailing proxy materials to stockholders in connection
to a November 16 special meeting at which holders will be asked
to consider a previously announced agreement with Greyhound
Corp <G>.
Under the agreement, Greyhound will acquire, in a merger,
three of the company's foodservice operations - Dobbs
International Services, Dobbs Houses and Carson international.
If the transaction is approved, Carsons said its
stockholders will receive 30 dlrs cash and one share of common
in the new Carson Pirie Scott and Co for each share held.
Reuter
| "NORM" | [
"acq"
] | "TEST" | "TRAINING-SET" | "20035" | "21401" | [
"usa"
] | [] | [] | [] | 19-OCT-1987 10:24:10.61 | CARSON PIRIE <CRN> TO START PROXY MAILING |