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test/16407 | test/16407 |@title u:2 trust:1 co:1 ustc:1 raise:1 broker:1 loan:1 rate:1 |@word trust:2 co:2 say:1 raise:2 broker:2 loan:2 rate:3 7:3 3:1 4:1 pct:3 1:2 2:2 effective:1 immediately:1 bankers:1 bt:1 also:1 quote:1 publicly:1 earlier:1 today:1 | U.S. TRUST CO <USTC> RAISES BROKER LOAN RATE
U.S. Trust Co said it raised its
broker loan rate to 7-3/4 pct from 7-1/2 pct, effective
immediately.
Bankers Trust Co <BT>, which also quotes its broker loan
rate publicly, raised its rate to 7-1/2 pct earlier today.
|
test/16409 | test/16409 |@title corrected:1 crazy:1 eddie:1 crzy:1 set:1 right:1 |@word crazy:2 eddie:2 inc:1 say:4 board:1 adopt:1 defensive:1 shareholder:2 right:4 plan:2 reacive:1 inquiry:1 friendly:1 merger:1 record:1 april:2 21:1 receive:1 purchase:1 certain:1 circumstance:1 price:1 42:1 dlrs:1 0:1 01:1 preferred:1 share:2 common:2 hold:1 expire:1 9:1 1997:1 company:1 would:1 exercisable:1 20:2 business:1 day:1 party:1 acquire:1 pct:2 stock:1 announce:1 bid:1 30:1 add:1 drop:1 year:1 rights:1 expiration:1 | (CORRECTED)-CRAZY EDDIE <CRZY.O> SETS RIGHTS
Crazy Eddie Inc said its board has
adopted a defensive shareholder rights plan and said it has
reacived inquiries on a friendly merger.
It said under the plan, shareholders of record as of April
21 will receive a right to purchase under certain circumstances
at a price of 42 dlrs 0.01 preferred share for each common
share held. The rights expire April 9, 1997.
The company said the rights would be exercisable 20
business days after a party were to acquire 20 pct or more of
Crazy Eddie common stock or announce a bid for 30 pct or more.
Adds dropped year of rights expiration.
|
test/16410 | test/16410 |@title biotech:1 electronics:1 inc:1 ion:1 3rd:1 qtr:1 net:1 |@word shr:2 eight:1 ct:4 vs:6 one:1 half:1 net:2 508:1 000:4 21:1 rev:1 7:2 2:2 mln:4 4:1 nine:1 mth:1 28:2 11:1 1:1 523:1 567:1 revs:1 26:1 22:1 6:1 note:1 period:1 end:1 february:1 reuter:1 | BIOTECH ELECTRONICS INC <ION.TO> 3RD QTR NET
Shr eight cts vs one-half ct
Net 508,000 vs 21,000
Revs 7.2 mln vs 7.4 mln
Nine mths
Shr 28 cts vs 11 cts
Net 1,523,000 vs 567,000
Revs 26.2 mln vs 22.6 mln
Note: period ended February 28.
Reuter
|
test/16415 | test/16415 |@title portuguese:1 consumer:1 price:1 1:1 4:1 pct:1 march:1 |@word portugal:1 consumer:2 price:2 rise:3 1:3 4:2 pct:9 march:6 one:1 increase:1 february:4 2:2 1986:3 national:1 statistics:1 institute:1 say:1 index:1 base:1 100:1 1976:1 772:1 0:1 761:1 3:1 compare:2 703:1 give:1 year:3 inflation:3 rate:2 9:3 8:1 5:1 12:1 measure:1 annual:2 average:1 10:1 11:1 government:1 forecast:1 eight:1 | PORTUGUESE CONSUMER PRICES UP 1.4 PCT IN MARCH
Portugal's consumer prices rose 1.4 pct
in March after a one pct increase in February and a 1.2 pct
rise in March 1986, the National Statistics Institute said.
The consumer price index (base 100 for 1976) rose to 772.0
from 761.3 in February and compared with 703.4 in March 1986.
This gave a year-on-year March inflation rate of 9.8 pct
against 9.5 pct in February and 12.2 pct in March 1986.
Measured as an annual average rate, inflation in March was
10.9 pct compared with 11.1 pct in February. The government
forecasts annual inflation of about eight pct this year.
|
test/16417 | test/16417 |@title myers:1 industries:1 inc:1 mye:1 1st:1 qtr:1 net:1 |@word shr:1 22:1 ct:2 vs:3 18:2 net:1 803:1 708:1 642:1 534:1 sale:1 21:1 0:1 ln:1 8:1 mln:1 note:1 per:1 share:1 figure:1 adjust:1 ten:1 pct:1 stock:1 dividend:1 pay:1 august:1 1986:1 | MYERS INDUSTRIES INC <MYE> 1ST QTR NET
Shr 22 cts vs 18 cts
Net 803,708 vs 642,534
Sales 21.0 ln vs 18.8 mln
NOTE: Per share figures adjusted for ten pct stock dividend
paid August 1986.
|
test/16418 | test/16418 |@title gte:2 corp:2 1st:2 qtr:2 shr:2 78:2 ct:4 vs:2 86:2 |@word | GTE CORP 1ST QTR SHR 78 CTS VS 86 CTS
GTE CORP 1ST QTR SHR 78 CTS VS 86 CTS
|
test/16419 | test/16419 |@title resdel:1 rsdl:1 merge:1 san:1 bar:1 sbar:1 |@word resdel:5 industries:1 say:2 san:4 bar:4 corp:1 agree:1 merge:1 arrangement:1 call:1 spin:1 asset:1 break:1 free:1 division:1 shareholder:1 exchange:1 share:3 stock:1 ratio:1 one:1 hold:1 | RESDEL <RSDL.O> TO MERGE WITH SAN/BAR <SBAR.O>
Resdel Industries said it
and San/Bar Corp has agreed to merge San/Bar into Resdel.
The arrangement calls for San/Bar to spin-off assets of its
Break-Free division to shareholders then exchange its own
shares for Resdel stock at a ratio of one Resdel share for each
San/Bar share held, Resdel said.
|
test/16420 | test/16420 |@title midlantic:1 midl:1 acquire:1 county:1 bancorp:1 |@word midlantic:3 corp:1 say:3 agree:1 acquire:1 county:6 bancorp:3 23:1 mln:1 dlrs:2 agreement:1 call:1 trust:1 co:1 subsidiary:1 merge:1 national:1 bank:1 north:1 pay:1 83:1 73:1 share:2 cash:1 2:1 36:1 time:1 march:1 31:1 book:1 value:1 276:1 0000:1 outstanding:2 receive:1 option:1 three:1 principal:1 shareholder:2 40:1 pct:1 acquisition:1 expect:1 third:1 quarter:1 1987:1 subject:1 regulatory:1 approval:1 | MIDLANTIC <MIDL.O> TO ACQUIRE COUNTY BANCORP
Midlantic Corp said it agreed to
acquire County Bancorp for about 23 mln dlrs in an agreement
calling for County Trust Co, a County Bancorp subsidiary, to
merge into Midlantic National Bank/North.
Midlantic said it will pay 83.73 dlrs a share in cash, or
2.36 times County Bancorp's March 31 book value, for each of
County's about 276,0000 shares outstanding. It said it received
an option from three principal shareholders for 40 pct of
County's outstanding.
The acquisition is expected in the third quarter of 1987
and is subject to regulatory and shareholder approvals.
|
test/16421 | test/16421 |@title people:1 savings:1 bank:1 brockton:1 pbkb:1 |@word net:2 646:1 000:2 vs:2 470:1 asset:1 173:1 0:1 mln:4 152:1 9:1 note:1 quarter:1 end:1 march:1 31:1 company:1 complete:1 conversion:1 mutual:1 stock:2 form:1 october:1 1986:1 raise:1 14:1 1:1 dlrs:1 proceed:1 sale:1 2:1 3:1 share:1 common:1 | PEOPLE'S SAVINGS BANK OF BROCKTON <PBKB.O>
Net 646,000 vs 470,000
Assets 173.0 mln vs 152.9 mln
NOTE:Quarter ended March 31. The company completed
conversion from mutual to stock form in October 1986, raising
14.1 mln dlrs in net proceeds through the sale of 2.3 mln
shares of common stock.
|
test/16422 | test/16422 |@title micro:1 general:1 corp:1 mgen:1 4th:1 qtr:1 loss:1 |@word period:1 end:1 december:1 28:1 shr:2 nil:2 vs:8 loss:5 six:1 ct:2 net:2 6:3 319:1 265:1 651:1 revs:2 1:2 117:1 778:1 090:1 001:1 avg:2 shrs:2 874:1 383:1 4:5 323:2 614:1 year:1 10:1 profit:1 432:1 458:1 711:1 350:1 256:1 708:1 837:1 871:1 322:1 816:1 | MICRO GENERAL CORP <MGEN.O> 4TH QTR LOSS
Period ended December 28.
Shr nil vs loss six cts
Net loss 6,319 vs loss 265,651
Revs 1,117,778 vs 1,090,001
Avg shrs 6,874,383 vs 4,323,614
Year
Shr nil vs loss 10 cts
Net profit 4,323 vs loss 432,458
Revs 4,711,350 vs 4,256,708
Avg shrs 6,837,871 vs 4,322,816
|
test/16424 | test/16424 |@title gte:2 corp:1 1st:1 qtr:1 mar:1 31:1 |@word shr:1 78:1 ct:2 vs:4 86:1 net:1 265:1 0:4 mln:4 283:1 revs:1 3:2 7:1 billion:2 6:1 avg:1 shrs:1 329:1 319:1 | GTE CORP <GTE> 1ST QTR MAR 31
Shr 78 cts vs 86 cts
Net 265.0 mln vs 283.0 mln
Revs 3.7 billion vs 3.6 billion
Avg shrs 329.0 mln vs 319.0 mln
|
test/16426 | test/16426 |@title gte:2 post:2 pre:2 tax:2 loss:2 121:2 mln:2 dlrs:2 1st:2 qtr:2 50:2 pct:2 share:2 us:2 sprint:2 |@word | GTE POSTS PRE-TAX LOSS OF 121 MLN DLRS IN 1ST QTR FOR 50 PCT SHARE OF US SPRINT
GTE POSTS PRE-TAX LOSS OF 121 MLN DLRS IN 1ST QTR FOR 50 PCT SHARE OF US SPRINT
|
test/16427 | test/16427 |@title group:1 raise:1 scandinavia:1 fund:1 scf:1 stake:1 |@word shareholder:1 group:4 consist:1 foreign:1 investment:3 firm:3 investor:2 say:3 raise:1 stake:1 scandinavia:3 fund:3 inc:1 2:2 607:1 900:1 share:4 40:1 0:1 pct:2 total:1 outstanding:1 309:1 700:1 35:1 4:1 filing:1 securities:1 exchange:1 commission:1 also:1 consider:1 informal:1 offer:1 make:1 president:1 bjorn:1 carlson:1 march:2 31:1 would:1 grant:1 representation:1 company:1 board:1 include:1 vbi:2 corp:1 turks:1 caicos:1 islands:1 ingemar:1 rydin:1 industritillbehor:1 ab:1 swedish:1 erik:1 martin:1 vik:3 norwegian:1 son:1 alexander:1 eld:1 buy:1 combine:1 298:1 200:1 common:1 since:1 13:1 price:1 range:1 9:1 500:1 10:1 000:1 dlrs:1 | GROUP RAISES SCANDINAVIA FUND <SCF> STAKE
A shareholder group consisting of
foreign investment firms and investors said it raised its stake
in Scandinavia Fund Inc to 2,607,900 shares, or 40.0 pct of the
total outstanding from 2,309,700 shares, or 35.4 pct.
In a filing with the Securities and Exchange Commission,
the group also said it is considering an informal offer made by
Scandinavia Fund President Bjorn Carlson on March 31 which
would grant it representation on the company's board.
The group includes VBI Corp, a Turks and Caicos Islands
investment firm, and Ingemar Rydin Industritillbehor AB, a
Swedish investment firm, and Erik Martin Vik, a Norwegian
investor, and Vik's son, Alexander.
The group said VBI and the elder Vik bought a combined
298,200 Scandinavia Fund common shares since March 13 at prices
ranging from 9.500 to 10.000 dlrs a share.
|
test/16428 | test/16428 |@title square:1 corp:1 sqd:1 1st:1 qtr:1 net:1 |@word shr:1 79:1 ct:2 vs:3 73:1 net:1 22:1 901:1 000:2 21:1 042:1 sale:1 336:1 1:2 mln:2 334:1 | SQUARE D CORP <SQD> 1ST QTR NET
Shr 79 cts vs 73 cts
Net 22,901,000 vs 21,042,000
Sales 336.1 mln vs 334.1 mln
|
test/16429 | test/16429 |@title triton:1 oil:1 say:1 paris:1 basin:1 reserve:1 39:1 pct:1 |@word triton:3 energy:1 corp:1 say:2 prove:1 reserve:1 villespedue:1 oil:1 field:3 france:1 paris:2 basin:1 estimate:1 total:2 67:1 5:1 mln:2 barrel:2 march:1 one:1 39:1 pct:4 48:1 7:1 may:1 31:1 1986:1 60:1 europe:1 plc:1 subsidiary:1 50:3 interest:1 locate:1 mile:1 east:1 hold:1 exploration:1 operator:1 | TRITON <OIL> SAYS PARIS BASIN RESERVES UP 39 PCT
Triton Energy Corp said proven reserves
of the Villespedue oil field in France's Paris Basin were
estimated at a total of 67.5 mln barrels on March one, up 39
pct from 48.7 mln barrels on May 31, 1986.
Triton said its 60 pct owned <Triton Europe Plc> subsidiary
has a 50 pct interest in the field which is located 50 miles
east of Paris. The other 50 pct is held by <Total Exploration
S.A.>, the field's operator.
|
test/16430 | test/16430 |@title talk:1 point:1 ibm:2 |@word international:1 business:2 machines:1 corp:1 start:1 year:6 aggressively:1 industry:2 analyst:5 say:10 company:2 still:1 face:1 tough:1 round:1 fight:1 stop:1 two:2 earning:1 slump:1 impressed:1 happen:1 ibm:8 long:1 time:1 painewebber:2 stephen:1 smith:2 wood:1 yet:1 add:2 1:2 30:1 dlrs:2 share:1 first:3 quarter:4 net:1 income:1 easily:1 top:2 estimate:1 wall:1 street:1 range:1 even:1 dollar:2 20:1 pleasantly:1 surprise:1 performance:1 indicate:1 chance:1 full:2 recovery:1 hinge:1 several:1 key:1 factor:1 whose:1 impact:1 feel:1 later:1 include:1 success:1 new:1 personal:1 computer:2 line:2 introduce:1 week:1 ago:1 9370:1 minicomputer:1 begin:1 volume:1 shipment:3 july:1 addition:1 benefit:1 early:1 retirement:1 program:1 cost:1 cut:1 move:1 emerge:1 progress:1 note:1 chairman:1 john:1 f:1 akers:1 relatively:1 upbeat:1 assess:1 outlook:1 nearly:1 although:1 worldwide:1 economic:1 situation:1 remain:2 unsettled:1 encouraging:2 sign:1 aker:2 point:1 among:1 thing:1 high:1 optimistic:1 prospect:1 weak:2 low:1 tax:1 rate:1 strong:2 mainframe:3 sale:2 contribute:1 well:2 expect:1 result:1 3090:1 march:1 january:1 february:1 ulric:1 weil:3 washington:1 base:1 associate:1 commonly:1 call:1 sierra:1 bail:1 whole:1 continue:1 auger:1 rest:1 reuter:1 | TALKING POINT/IBM <IBM>
International Business Machines Corp
has started the year aggressively, but industry analysts said
the company still faces some tough rounds in its fight to stop
a two-year earnings slump.
'I am more impressed with what's happening at IBM than I
have been in a long time,' said PaineWebber analyst Stephen
Smith.
'But they're not out of the woods yet,' he added.
At 1.30 dlrs a share, IBM's first-quarter net income easily
topped most estimates on Wall Street, which had ranged from an
even dollar to 1.20 dlrs.
Most analysts said they were pleasantly surprised by IBM's
performance. But they indicated that IBM's chances for a full
recovery hinged on several key factors whose impact will not be
felt until later in the year.
These include the success of IBM's new personal computer
line, introduced two weeks ago, and its 9370 minicomputers,
which will begin volume shipments in July.
In addition, IBM has said the full benefits of its
early-retirement program and other cost-cutting moves will
emerge as the year progresses.
Analysts noted that IBM chairman John F. Akers was
relatively more upbeat in assessing the company's outlook than
he has been for nearly a year.
'Although the worldwide economic situation remains
unsettled, there are some encouraging signs in our business,'
Akers said, pointing to, among other things, higher
first-quarter shipments. 'We remain optimistic about the
prospects for both the industry and IBM,' he said.
'Akers was most encouraging,' said PaineWebber's Smith.
A weak dollar, a lower tax rate and strong mainframe
computer sales all contributed to the better-than-expected
first-quarter results, analysts said.
'Shipments of the 3090 mainframes were very strong in
March,' after a weak January and February, said Ulric Weil of
Washington-based Weil and Associates.
Sales of the top-of-the-line mainframes, commonly called
the Sierras, 'bailed out the whole quarter,' Weil said, adding,
'If this continues, it augers well for the rest of the year.'
REUTER...^M
|
test/16432 | test/16432 |@title micro:1 mask:1 inc:1 nms:1 2nd:1 qtr:1 mar:1 31:1 oper:1 loss:1 |@word oper:5 shr:4 loss:9 20:1 ct:5 vs:6 63:1 net:2 439:1 000:9 1:3 347:1 sale:2 6:1 303:1 5:1 062:1 six:2 mth:2 43:1 02:1 dlrs:3 934:1 2:1 333:1 12:1 mln:1 9:1 878:1 note:1 datum:1 include:1 1986:1 discontinue:1 operation:1 60:1 three:1 per:2 qtr:1 151:1 seven:1 | MICRO MASK INC <NMS.O> 2ND QTR MAR 31 OPER LOSS
Oper shr loss 20 cts vs loss 63 cts
Oper net loss 439,000 vs loss 1,347,000
Sales 6,303,000 vs 5,062,000
Six mths
Oper shr loss 43 cts vs loss 1.02 dlrs
Oper net loss 934,000 vs loss 2,333,000
Sales 12.1 mln vs 9,878,000
Note: oper data does not include 1986 losses from
discontinued operations of 60,000 dlrs, or three cts per shr,
in qtr and 151,000 dlrs, or seven cts per shr, in six mths.
|
test/16433 | test/16433 |@title japanese:1 crusher:1 buy:1 canadian:1 rapeseeed:1 |@word japanese:1 crusher:1 buy:1 3:1 000:2 4:1 tonne:1 canadian:1 rapeseed:1 export:1 business:1 overnight:1 last:1 half:2 may:1 first:1 june:1 shipment:1 trade:1 source:1 say:1 | JAPANESE CRUSHERS BUY CANADIAN RAPESEEED
Japanese crushers bought 3,000 to
4,000 tonnes of Canadian rapeseed in export business overnight
for last half May/first half June shipment, trade sources said.
|
test/16434 | test/16434 |@title irving:1 bank:1 v:1 1st:1 qtr:1 net:1 hurt:1 brazil:1 |@word irving:3 bank:2 corp:1 say:2 six:1 pct:1 drop:2 first:4 quarter:3 net:3 income:4 year:3 earlier:2 largely:1 result:1 place:1 medium:1 long:1 term:1 loan:5 borrower:1 brazil:1 ecuador:1 non:3 accrual:2 status:1 three:1 month:1 fall:1 28:1 60:1 mln:10 dlrs:7 30:1 43:1 1986:2 period:1 earning:2 per:1 share:1 1:2 51:1 62:1 put:1 215:1 brazilian:1 33:1 ecuadorean:1 reduce:2 total:1 4:2 tax:2 estimate:1 full:1 would:1 15:1 3:1 cash:1 interest:2 payment:1 receive:1 remainder:1 1987:1 also:1 adversely:1 affect:1 loss:3 trading:2 security:2 high:1 expense:1 although:1 partly:1 offset:1 increase:1 trust:1 profit:1 foreign:1 exchange:1 investment:1 gain:1 allowance:1 224:1 8:2 185:1 2:1 provision:1 21:1 versus:1 19:1 5:1 | IRVING BANK <V> 1ST-QTR NET HURT BY BRAZIL
Irving Bank Corp said a six pct drop
in first-quarter net income from a year earlier was largely the
result of placing medium- and long-term loans to borrowers in
Brazil and Ecuador on non-accrual status.
Income in the first three months fell to 28.60 mln dlrs
from 30.43 mln in the same 1986 period. Earnings per share
dropped to 1.51 dlrs from 1.62.
Irving put 215 mln dlrs of Brazilian and 33 mln dlrs of
Ecuadorean loans on non-accrual, reducing first-quarter net
income by a total of 4.4 mln dlrs after tax.
Irving estimates full year net would be reduced by 15.3 mln
dlrs after tax if no cash interest payments are received on
these loans during the remainder of 1987.
Also adversely affecting earnings were losses on the
trading of securities and higher non-interest expenses,
although these were partly offset by increased trust income,
profits from foreign exchange trading and investment securities
gains, the bank said.
The allowance for loan losses was 224.8 mln dlrs, up from
185.2 mln a year earlier. The provision for loan losses was
21.8 mln versus 19.5 mln in the first quarter of 1986.
|
test/16437 | test/16437 |@title allegheny:1 western:1 energy:1 algh:1 ups:1 payout:1 |@word qtly:1 div:1 7:1 1:1 2:1 ct:2 vs:1 six:1 prior:1 pay:1 june:1 3:1 record:1 may:1 15:1 note:1 full:1 name:1 allegheny:1 western:1 energy:1 corp:1 | ALLEGHENY/WESTERN ENERGY <ALGH.O> UPS PAYOUT
Qtly div 7-1/2 cts vs six cts prior
Pay June 3
Record May 15
NOTE: Full name Allegheny and Western Energy Corp.
|
test/16438 | test/16438 |@title standard:1 srd:1 mobil:1 mob:1 plan:1 offshore:1 platform:1 |@word standard:4 oil:3 co:3 say:2 contract:1 award:1 cbs:1 engineering:1 inc:1 drilling:1 production:2 platform:3 instal:2 ewing:1 bank:1 block:1 826:1 gulf:1 mexico:1 mobil:1 corp:2 40:1 pct:3 interest:1 subsidiary:1 operate:1 design:1 produce:1 15:1 000:1 barrel:1 50:1 mln:1 cubic:1 foot:1 gas:1 daily:1 expect:1 summer:1 1988:1 owner:1 kerr:1 mcgee:1 kmg:1 16:1 66:1 prudential:1 insurance:1 america:1 3:1 34:1 | STANDARD <SRD>,MOBIL <MOB>PLAN OFFSHORE PLATFORM
Standard Oil Co said a contract has
been awarded to <CBS Engineering Inc> for a drilling and
production platform to be installed in Ewing Bank Block 826 in
the Gulf of Mexico where Standard and Mobil Corp each own a 40
pct interest.
Standard said its Standard Oil Production Co subsidiary
will operate the platform which is being designed to produce
15,000 barrels of oil and 50 mln cubic feet of gas daily. The
platform is now expected to be installed in the summer of 1988.
Other owners are Kerr-McGee Corp <KMG> with 16.66 pct and
<Prudential Insurance Co of America> with 3.34 pct.
|
test/16440 | test/16440 |@title united:2 telecommunications:2 inc:2 1st:2 qtr:2 shr:2 13:2 ct:4 vs:2 47:2 |@word | UNITED TELECOMMUNICATIONS INC 1ST QTR SHR 13 CTS VS 47 CTS
UNITED TELECOMMUNICATIONS INC 1ST QTR SHR 13 CTS VS 47 CTS
|
test/16441 | test/16441 |@title coast:1 r:1 v:1 inc:1 1st:1 qtr:1 net:1 |@word shr:1 profit:2 one:1 ct:2 vs:4 loss:2 28:1 net:1 23:1 000:2 725:1 sale:1 20:1 6:1 mln:2 18:1 5:1 avg:1 shrs:1 3:1 959:1 011:1 2:1 608:1 571:1 | <COAST R.V. INC> 1ST QTR NET
Shr profit one ct vs loss 28 cts
Net profit 23,000 vs loss 725,000
Sales 20.6 mln vs 18.5 mln
Avg shrs 3,959,011 vs 2,608,571
|
test/16442 | test/16442 |@title u:1 february:1 trade:1 report:1 new:1 basis:1 |@word february:3 monthly:4 merchandise:1 trade:3 figure:5 report:2 tuesday:1 commerce:2 department:1 new:1 basis:1 reflect:1 recent:1 datum:2 avoid:1 future:1 revision:1 official:2 say:2 overall:1 january:1 deficit:1 14:1 8:1 billion:1 dlrs:1 revise:2 final:2 one:1 previously:1 initial:1 subsequent:1 month:1 time:1 lag:1 compiling:1 estimate:1 import:2 export:2 reporting:1 delay:1 several:1 week:1 permit:1 gather:1 late:1 give:1 clear:1 picture:1 balance:1 | U.S. FEBRUARY TRADE TO BE REPORTED ON NEW BASIS
The February monthly merchandise
trade figures to be reported Tuesday by the Commerce Department
will be on a new basis reflecting more recent data, so avoiding
future revisions of the monthly figure, Commerce officials
said.
The overall January deficit of 14.8 billion dlrs will be
revised, but the February figure will be a final one, officials
said.
Previously, the initial monthly figure has had to be
revised in subsequent months because of the time lag between
the report and the compiling of final estimates on imports and
exports.
The reporting of the February trade data was delayed
several weeks to permit gathering latest figures on imports and
exports to give a clearer picture of the monthly trade balance.
|
test/16443 | test/16443 |@title revlon:1 rev:1 macandrew:1 forbes:1 merge:1 |@word macandrews:1 forbes:2 group:2 revlon:9 inc:2 rev:1 say:10 enter:1 definitive:1 mergewr:1 agreement:2 macandrew:6 acquire:1 20:3 10:3 dlrs:7 per:2 common:2 share:10 cash:2 increase:1 offer:12 purchase:1 april:3 1:2 18:2 50:2 follow:1 consummation:1 unit:1 merge:1 remain:1 convert:1 right:2 receive:1 company:5 board:1 director:1 unanimously:1 approve:1 merger:1 also:1 reach:1 settlement:1 plaintiff:1 pende:1 litigation:1 challenge:1 acquisition:1 macanrew:1 tender:2 withdrawal:1 expireon:1 tuesday:1 28:1 unless:1 extend:1 promptly:1 file:1 revise:1 material:1 securities:1 exchange:1 commission:1 drexel:1 burnham:1 lambert:1 act:1 dealer:1 manager:1 currently:1 42:1 mln:3 outstande:1 current:1 price:1 782:1 spokesman:1 previous:1 720:1 ronald:1 perelman:1 63:1 pct:1 already:1 since:1 make:1 dozen:1 shareholder:1 lawsuit:2 bring:1 allege:1 original:1 low:1 settle:1 amend:1 | REVLON <REV> AND MACANDREWS AND FORBES TO MERGE
<MacAndrews and Forbes Group> and
Revlon Group Inc <REV> said that they have entered into a
definitive mergewr agreement where MacAndrews will acquire
Revlon at 20.10 dlrs per common share in cash.
MacAndrews said it increased its offer to purchase all
Revlon common shares to 20.10 dlrs a share, from its April 1
offer of 18.50 dlrs a share.
Following consummation of the offer, a unit of MacAndrews
will merge into Revlon and each remaining share will be
converted into the right to receive 20.10 dlrs per share in
cash, the companies said.
Revlon said its board of directors unanimously approved the
merger agreement.
MacAndrews and Revlon also said they have reached a
settlement with the plaintiff in the pending litigation
challenging acquisition of the shares by MacAnrews.
The companies said the tender offer and withdrawal rights
will expireon Tuesday April 28, unless extended.
MacAndrews said it will promptly file revised tender offer
material with the Securities and Exchange Commission. Drexel
Burnham Lambert Inc is acting as dealer-manager for the offer,
the companies said.
Revlon currently has about 42 mln shares outstanding. The
current offer price is about 782 mln dlrs, a company spokesman
said, up from the previous offer of 720 mln dlrs.
On April 1, MacAndrews and Forbes, owned by Ronald
Perelman, offered 18.50 dlrs a share for the 63 pct of Revlon
shares he did not already own.
Since the offer was made over a dozen shareholder lawsuits
were brought against Revlon alleging the original offer was too
low.
But, the companies said these lawsuits have been settled in
the amended offer.
|
test/16444 | test/16444 |@title real:1 estate:1 firm:1 cut:1 intermagnetic:1 inma:1 stake:1 |@word roland:3 international:1 corp:2 coconut:1 grove:1 fla:1 real:1 estate:1 development:1 company:2 say:2 cut:1 stake:2 intermagnetics:2 general:2 308:1 400:2 share:3 4:2 8:1 pct:3 total:1 outstanding:1 358:1 5:2 6:1 filing:1 securities:1 exchange:1 commission:1 sell:1 50:1 000:1 feb:1 13:1 dlrs:1 long:1 five:1 require:1 report:1 dealing:1 stock:1 | REAL ESTATE FIRM CUTS INTERMAGNETICS<INMA> STAKE
Roland International Corp, a Coconut
Grove, Fla., real estate development company, said it cut its
stake in Intermagnetics General Corp to 308,400 shares, or 4.8
pct of the total outstanding, from 358,400 shares, or 5.6 pct.
In a filing with the Securities and Exchange Commission,
Roland said it sold 50,000 shares on Feb 4 at 5.13 dlrs each.
As long as Roland's stake in Intermagnetics General is
below five pct, it is not required to report any further
dealings in the company's stock.
|
test/16448 | test/16448 |@title first:1 commerce:1 corp:1 fcom:1 1st:1 qtr:1 net:1 |@word shr:1 40:1 ct:2 vs:2 31:1 net:1 5:1 151:1 000:2 4:1 078:1 | FIRST COMMERCE CORP <FCOM> 1ST QTR NET
Shr 40 cts vs 31 cts
Net 5,151,000 vs 4,078,000
|
test/16449 | test/16449 |@title dataproducts:1 dpc:1 buy:1 imaging:1 solution:1 |@word dataproducts:2 corp:2 say:3 sign:1 letter:1 intent:1 acquire:1 imaging:2 solutions:1 inc:2 unit:1 reliance:3 electric:2 co:2 undisclosed:1 term:1 acquisition:1 give:1 right:1 proprietary:1 solid:1 liquid:1 ink:1 technology:1 develop:1 joint:1 venture:1 operate:1 exxon:3 xon:1 solution:1 formerly:1 name:1 printing:1 systems:1 subsidiary:1 recently:1 become:1 independent:1 company:1 result:1 leverage:1 buyout:1 former:1 owner:1 | DATAPRODUCTS <DPC> TO BUY IMAGING SOLUTIONS
Dataproducts Corp said
it signed a letter of intent to acquire the Imaging Solutions
Inc unit of Reliance Electric Co under undisclosed terms.
This acquisition will give it all rights to proprietary
solid and liquid ink technologies which had been developed by a
joint venture operated by it and Exxon Corp <XON>, Dataproducts
said.
It said Imaging Solutions, formerly named Exxon Printing
Systems Inc, had been a Reliance Electric Co subsidiary.
But Reliance recently became an independent company as the
result of a leveraged buyout from its former owner, Exxon.
|
test/16450 | test/16450 |@title jannock:1 jn:1 acquire:1 half:1 stake:1 printer:1 |@word jannock:3 ltd:3 say:2 imaging:2 co:1 unit:1 acquire:1 50:2 pct:1 stake:1 arthurs:1 jones:2 lithographing:1 toronto:1 undisclosed:1 term:1 acquisition:1 would:1 lift:1 revenue:2 mln:1 dlrs:1 year:1 specify:1 arthur:1 1986:1 | JANNOCK <JN.TO> ACQUIRES HALF-STAKE IN PRINTER
Jannock Ltd said its Jannock Imaging Co
Ltd unit acquired a 50 pct stake in Arthurs-Jones Lithographing
Ltd, of Toronto, for undisclosed terms.
It said the acquisition would lift Jannock Imaging revenues
to 50 mln dlrs this year. It did not specify Arthurs-Jones'
1986 revenues.
|
test/16454 | test/16454 |@title mark:1 iv:2 industries:1 inc:1 4th:1 qtr:1 feb:1 28:1 net:1 |@word shr:3 30:1 ct:3 vs:7 17:1 net:2 2:5 526:1 000:6 1:3 452:1 revs:2 71:1 9:1 mln:6 25:1 year:3 20:1 dlrs:3 68:1 10:1 4:1 738:1 291:1 5:1 83:1 0:1 avg:1 shrs:1 8:1 511:1 6:1 983:1 note:1 current:1 period:1 include:1 gain:1 299:1 qtr:1 change:1 pension:1 accounting:1 ago:1 figure:1 restate:1 3:1 split:1 pay:1 june:1 1986:1 january:1 1987:1 | MARK IV INDUSTRIES INC <IV> 4TH QTR FEB 28 NET
Shr 30 cts vs 17 cts
Net 2,526,000 vs 1,452,000
Revs 71.9 mln vs 25.2 mln
Year
Shr 1.20 dlrs vs 68 cts
Net 10.2 mln vs 4,738,000
Revs 291.5 mln vs 83.0 mln
Avg shrs 8,511,000 vs 6,983,000
NOTE: Current periods include gain of 299,000 dlrs in qtr
and 1.2 mln dlrs in year from changes in pension accounting.
Year-ago shr figures restated for 3-for-2 splits paid June
1986 and January 1987.
|
test/16457 | test/16457 |@title electrohome:1 el:1 x:1 sell:1 unit:1 |@word electrohome:1 ltd:2 say:1 agree:1 sell:1 certain:1 asset:1 computer:1 service:2 sector:1 aabex:1 division:1 canadian:1 general:1 electric:1 co:1 cge:1 term:1 disclose:1 closing:1 date:1 expect:1 may:1 1:1 1987:1 | ELECTROHOME <EL.X.TO> TO SELL UNIT
Electrohome Ltd said it
agreed to sell certain assets of the computer service sector of
its AABEX service division to Canadian General Electric Co Ltd
<CGE.TO>.
Terms were not disclosed. The closing date is expected to
be May 1, 1987.
|
test/16458 | test/16458 |@title salick:1 health:1 care:1 inc:1 shci:1 2nd:1 qtr:1 net:1 |@word period:1 end:1 february:1 28:1 shr:2 14:1 ct:4 vs:6 10:1 net:2 741:1 000:7 510:1 rev:2 5:1 980:1 4:1 836:1 six:1 mth:1 29:1 20:1 1:2 556:1 080:1 12:1 2:1 mln:1 9:1 214:1 | SALICK HEALTH CARE INC <SHCI.O> 2ND QTR NET
Period ended February 28.
Shr 14 cts vs 10 cts
Net 741,000 vs 510,000
Revs 5,980,000 vs 4,836,000
Six Mths
Shr 29 cts vs 20 cts
Net 1,556,000 vs 1,080,000
Revs 12.2 mln vs 9,214,000
|
test/16459 | test/16459 |@title laser:1 photonics:1 inc:1 lazr:1 close:1 sale:1 |@word laser:1 photonics:1 inc:1 say:3 complete:1 previously:1 announce:1 sale:1 615:1 385:1 share:1 18:1 pct:1 common:1 stock:1 group:1 investor:3 one:1 mln:1 dlrs:2 400:1 000:1 loan:1 make:1 repay:1 proceed:1 also:1 restructure:1 board:1 include:2 three:1 member:1 designate:1 pierre:1 schoenheimer:1 roger:1 kirk:1 leonard:1 lichter:1 | LASER PHOTONICS INC <LAZR.O> CLOSES SALE
Laser Photonics Inc said it
completed a previously announced sale of 615,385 shares, or 18
pct, of its common stock to a group of investors for one mln
dlrs.
A 400,000 dlrs loan made by the investors was repaid out of
the proceeds, it said.
It also said it restructured its board to include three
members designated by the investors, including Pierre
Schoenheimer, Roger Kirk and Leonard Lichter.
|
test/16460 | test/16460 |@title amsouth:1 bancorp:1 aso:1 set:1 exchange:1 ratio:1 |@word amsouth:5 bancorp:1 say:2 issue:1 3:1 166:1 000:1 share:4 stock:3 acquire:1 first:5 tuskaloosa:5 corp:1 previously:1 announce:1 merger:2 agreement:1 offer:1 66:1 dlrs:3 company:1 shareholder:1 receive:1 1:1 978825:1 hold:1 effect:1 april:1 17:1 asset:2 425:1 mln:1 six:1 billion:1 | AMSOUTH BANCORP <ASO> SETS EXCHANGE RATIO
AmSouth Bancorp said it will
issue about 3,166,000 shares of stock to acquire First
Tuskaloosa Corp.
Under a previously announced merger agreement, Amsouth
offered 66 dlrs a share in Amsouth stock for First Tuskaloosa.
The company said First Tuskaloosa shareholders will receive
1.978825 shares of Amsouth stock for each First Tuskaloosa
share held when the merger is effected April 17.
First Tuskaloosa has assets of more than 425 mln dlrs.
Amsouth's assets are about six billion dlrs.
|
test/16461 | test/16461 |@title voplex:1 corp:1 vot:1 1st:1 qtr:1 mar:1 31:1 |@word shr:1 25:1 ct:2 vs:3 23:1 net:1 670:1 105:1 599:1 107:1 revs:1 21:1 4:1 mln:2 20:1 1:1 | VOPLEX CORP <VOT> 1ST QTR MAR 31
Shr 25 cts vs 23 cts
Net 670,105 vs 599,107
Revs 21.4 mln vs 20.1 mln
|
test/16463 | test/16463 |@title hadson:1 corp:1 complete:1 acquisition:1 |@word hadson:2 corp:2 say:1 complete:1 acquisition:1 85:1 pct:1 seaxe:2 energy:1 seax:1 common:1 stock:2 182:1 415:1 share:1 engage:1 international:1 oil:1 gas:1 exploration:1 development:1 primarily:1 paris:1 basin:1 france:1 | HADSON CORP <HADS.O> COMPLETES ACQUISITION
Hadson Corp said it
completed the acquisition of 85 pct of the Seaxe Energy Corp's
<SEAX.O> common stock for 182,415 shares of Hadson's stock.
Seaxe is engaged in international oil and gas exploration
and development primarily in the Paris basin of France.
|
test/16465 | test/16465 |@title arrays:1 aray:1 complete:1 merger:1 |@word arrays:1 inc:2 say:2 complete:1 merger:2 haba:2 systems:1 term:1 call:1 share:2 array:1 exchange:1 transaction:1 value:1 4:1 1:1 mln:1 dlrs:1 company:2 produce:1 market:1 microcomputer:1 software:1 | ARRAYS <ARAY> COMPLETES MERGER
Arrays Inc said it completed
its merger with Haba Systems Inc.
Terms of the merger called for each share of Arrays to be
exchange for a share of Haba in a transaction valued at 4.1 mln
dlrs, the company said.
Both companies produce and market microcomputer software.
|
test/16468 | test/16468 |@title franklin:1 massachusetts:1 set:1 monthly:1 payout:1 |@word mthly:1 div:1 6:2 5:2 ct:2 vs:1 prior:1 pay:1 april:2 30:1 reord:1 15:1 note:1 franklin:1 massachusetts:1 insure:1 tax:1 free:1 income:1 fund:1 | FRANKLIN MASSACHUSETTS SETS MONTHLY PAYOUT
Mthly div 6.5 cts vs 6.5 cts prior
Pay April 30
Reord April 15
NOTE: Franklin Massachusetts Insured Tax-Free Income Fund.
|
test/16469 | test/16469 |@title franklin:1 minnesota:1 set:1 monthly:1 payout:1 |@word mthly:1 div:1 6:4 ct:2 vs:1 prior:1 pay:1 april:2 30:1 reord:1 15:1 note:1 franklin:1 minnesota:1 insure:1 tax:1 free:1 income:1 fund:1 | FRANKLIN MINNESOTA SETS MONTHLY PAYOUT
Mthly div 6.6 cts vs 6.6 cts prior
Pay April 30
Reord April 15
NOTE: Franklin Minnesota Insured Tax-Free Income Fund.
|
test/16470 | test/16470 |@title franklin:1 insure:1 set:1 monthly:1 payout:1 |@word mthly:1 div:1 7:2 1:2 ct:2 vs:1 prior:1 pay:1 april:2 30:1 reord:1 15:1 note:1 franklin:1 insure:1 tax:1 free:1 income:1 fund:1 | FRANKLIN INSURED SETS MONTHLY PAYOUT
Mthly div 7.1 cts vs 7.1 cts prior
Pay April 30
Reord April 15
NOTE: Franklin Insured Tax-Free Income Fund.
|
test/16471 | test/16471 |@title franklin:1 ohio:1 set:1 monthly:1 payout:1 |@word mthly:1 div:1 6:2 1:2 ct:2 vs:1 prior:1 pay:1 april:2 30:1 reord:1 15:1 note:1 franklin:1 ohio:1 insure:1 tax:1 free:1 income:1 fund:1 | FRANKLIN OHIO SETS MONTHLY PAYOUT
Mthly div 6.1 cts vs 6.1 cts prior
Pay April 30
Reord April 15
NOTE: Franklin Ohio Insured Tax-Free Income Fund.
|
test/16472 | test/16472 |@title franklin:1 puerto:1 rico:1 set:1 monthly:1 payout:1 |@word mthly:1 div:1 7:2 1:2 ct:2 vs:1 prior:1 pay:1 april:2 30:1 reord:1 15:1 note:1 franklin:1 puerto:1 rico:1 tax:1 free:1 income:1 fund:1 | FRANKLIN PUERTO RICO SETS MONTHLY PAYOUT
Mthly div 7.1 cts vs 7.1 cts prior
Pay April 30
Reord April 15
NOTE: Franklin Puerto Rico Tax-Free Income Fund.
|
test/16473 | test/16473 |@title franklin:1 california:1 set:1 monthly:1 payout:1 |@word mthly:1 div:1 6:2 5:2 ct:2 vs:1 prior:1 pay:1 april:2 30:1 reord:1 15:1 note:1 franklin:1 california:1 insure:1 tax:1 free:1 income:1 fund:1 | FRANKLIN CALIFORNIA SETS MONTHLY PAYOUT
Mthly div 6.5 cts vs 6.5 cts prior
Pay April 30
Reord April 15
NOTE: Franklin California Insured Tax-Free Income Fund.
|
test/16475 | test/16475 |@title canada:1 stock:1 dome:1 petroleum:1 ltd:1 dmp:1 |@word dome:9 petroleum:1 ltd:3 share:2 move:1 higher:1 u:1 canada:1 transcanada:3 pipelines:2 trp:1 make:1 4:4 3:2 billion:1 canadian:2 dlr:1 bid:1 say:3 talk:1 two:2 unidentified:1 company:2 market:2 speculation:1 potential:1 bidder:1 dupont:1 dd:1 conoco:1 atlantic:1 richfield:1 co:2 arc:1 mention:1 possibility:1 wilf:1 gobert:2 peters:1 rise:1 1:5 8:1 american:1 stock:3 exchange:3 15:1 new:3 york:1 active:1 toronto:1 50:1 dlrs:1 per:1 37:1 ct:1 characterize:1 action:1 awfully:1 optimistic:1 investor:1 hope:1 compete:1 offer:2 shareholder:3 pipeline:1 management:1 however:1 propose:1 issue:1 equity:1 subsidiary:2 would:2 operate:1 asset:1 current:1 20:1 pct:1 | CANADA STOCKS/DOME PETROLEUM LTD <DMP>
Dome Petroleum Ltd shares moved higher
in the U.S. and Canada after TransCanada PipeLines Ltd <TRP>
made a 4.3 billion Canadian dlr bid for Dome and Dome said it
is in talks with two other unidentified companies.
Market speculation is that the other two potential bidders
are not Canadian companies and DuPont's <DD> Conoco and
Atlantic Richfield Co <ARC> are mentioned as possibilities,
Wilf Gobert of Peters and Co Ltd said.
Dome rose 1/4 to 1-1/8 on the American Stock Exchange.
TransCanada PipeLines was down 1/4 at 15-3/4 on the New York
Stock Exchange.
Dome was the most active stock on the Toronto exchange at
1.50 dlrs per share, up 37 cts.
Gobert characterized the market action in Dome as 'awfully
optimistic' but said investors are hoping for a competing offer
to the shareholders.
TransCanada PipeLines' offer is to Dome management, not to
shareholders. However, it proposes issuing new equity in a
subsidiary that would operate Dome assets. Current Dome
shareholders would own 20 pct of the new subsidiary.
|
test/16476 | test/16476 |@title united:1 telecommunications:1 inc:1 ut:1 1st:1 qtr:1 net:1 |@word shr:1 13:2 ct:2 vs:4 47:1 net:1 492:1 000:4 46:1 417:1 revs:1 720:1 2:1 mln:2 793:1 6:1 avg:1 shrs:1 99:1 085:1 96:1 804:1 note:1 per:1 share:1 result:1 reflect:1 payment:1 prefer:1 dividend:1 requirement:1 | UNITED TELECOMMUNICATIONS INC <UT> 1ST QTR NET
Shr 13 cts vs 47 cts
Net 13,492,000 vs 46,417,000
Revs 720.2 mln vs 793.6 mln
Avg shrs 99,085,000 vs 96,804,000
NOTE: Per-share results reflect payment of preferred
dividend requirements
|
test/16478 | test/16478 |@title first:1 pennsylvania:1 corp:1 fpa:1 1st:1 qtr:1 net:1 |@word shr:1 15:2 ct:4 vs:4 13:1 net:1 8:1 753:1 000:2 7:1 804:1 avg:1 shrs:1 32:1 6:1 mln:4 23:1 2:1 note:1 include:1 gain:1 4:1 1:1 dlrs:2 12:1 3:2 tax:1 loss:1 carryforward:1 | FIRST PENNSYLVANIA CORP <FPA> 1ST QTR NET
Shr 15 cts vs 13 cts
Net 8,753,000 vs 7,804,000
Avg shrs 32.6 mln vs 23.2 mln
NOTE: Includes gains of 4.1 mln dlrs or 12 cts vs 3.3 mln
dlrs or 15 cts from tax loss carryforwards.
|
test/16479 | test/16479 |@title clark:1 copy:1 international:1 buy:1 w:1 german:1 stake:1 |@word clark:3 copy:3 international:1 corp:1 say:2 acquire:1 majority:2 interest:1 datagraph:2 gmbh:1 lich:1 west:1 germany:1 acquisition:2 make:2 subsidiary:1 interactive:1 computer:1 aids:1 norway:1 price:1 disclose:1 worldwide:1 sale:1 color:1 graphic:1 workstation:1 10:1 mln:1 dlrs:1 year:1 end:1 dec:1 31:1 1986:1 | <CLARK COPY INTERNATIONAL> BUYS W. GERMAN STAKE
Clark Copy
International Corp said it acquired a majority interest in
Datagraph GMBH of Lich, West Germany.
The acquisition was made through Clark Copy's majority
owned subsidiary Interactive Computer Aids of Norway.
No price was disclosed for the acquisition.
Clark Copy said worldwide sales for Datagraph, which makes
color graphics workstations, were 10 mln dlrs for the year
ended Dec. 31, 1986.
|
test/16480 | test/16480 |@title entre:1 computer:1 centers:1 inc:1 etre:1 2nd:1 qtr:1 loss:1 |@word end:1 feb:1 28:1 shr:2 loss:4 29:1 ct:4 vs:6 profit:4 10:1 net:2 2:3 733:1 000:4 911:1 revs:2 21:1 5:2 mln:4 18:1 six:1 mth:1 23:1 26:1 154:1 445:1 37:2 8:1 7:1 | ENTRE COMPUTER CENTERS INC<ETRE.O> 2ND QTR LOSS
Ended Feb 28
Shr loss 29 cts vs profit 10 cts
Net loss 2,733,000 vs profit 911,000
Revs 21.5 mln vs 18.5 mln
Six mths
Shr loss 23 cts vs profit 26 cts
Net loss 2,154,000 vs profit 2,445,000
Revs 37.8 mln vs 37.7 mln
|
test/16481 | test/16481 |@title gte:3 cite:1 loss:1 sprint:1 |@word corp:1 say:2 decline:2 first:2 quarter:3 net:2 income:3 reflect:2 121:1 mln:5 dlr:1 loss:5 50:2 pct:5 share:1 ownership:1 u:1 sprint:3 operation:4 increase:1 60:1 dlrs:5 report:2 gte:2 year:3 ago:2 prior:1 enter:1 joint:2 venture:2 united:1 telecommunications:1 ut:1 july:1 1986:1 company:2 earlier:1 265:1 0:3 283:1 theodore:1 brophy:1 chairman:1 expect:1 us:1 diminish:1 later:1 customer:1 traffic:1 migrate:1 new:1 fiber:1 optic:1 network:2 long:1 distance:1 telecommunication:1 reason:1 high:2 low:1 price:1 well:1 operating:1 cost:1 relate:1 part:1 fraudalent:1 use:1 operate:1 telephone:2 account:1 91:1 total:1 rise:2 eight:2 736:1 revenue:1 2:1 9:1 billion:1 | GTE <GTE> CITES LOSS OF SPRINT
GTE Corp said the decline in its
first quarter net income reflects a 121 mln dlr loss from its
50 pct share ownership of U.S. Sprint's operations.
This loss is an increase from the 60 mln dlrs loss reported
on operations GTE owned a year ago quarter and prior to
entering a joint venture with United Telecommunications <UT> in
July 1986. Under the joint venture, each company owns 50 pct of
Sprint.
Earlier, the company reported net income declined to 265.0
mln dlrs from 283.0 mln dlrs in the first quarter a year ago.
Theodore Brophy, chairman of GTE said, 'we expect US
Sprint's losses to diminish later this year as customer traffic
migrates to the new fiber-optic network for long distance
telecommunications.
The reason for the higher losses reflect lower prices as
well as higher operating costs related, in part, to the
fraudalent use of the network.
Operating income of its telephone operations, which account
for 91 pct of the total, rose eight pct to 736.0 mln dlrs.
Revenues from telephone operations rose eight pct to 2.9
billion dlrs.
|
test/16483 | test/16483 |@title goodyear:1 gt:1 sell:1 celeron:1 |@word goodyear:5 tire:1 rubber:1 co:1 say:6 expect:3 sell:2 celeron:6 corp:1 oil:2 gas:2 subsidiary:1 two:3 billion:2 dlrs:1 month:1 company:2 annual:1 meeting:1 rober:1 mercer:5 chairman:1 chief:1 executive:1 officer:1 also:1 report:2 profit:2 one:1 dlr:2 share:4 continue:3 operation:4 first:1 quarter:2 year:3 ago:1 period:1 loss:1 64:1 cent:1 seven:1 interested:1 buy:2 may:1 form:1 consortium:1 unit:1 consist:1 reserve:2 almost:1 complete:1 pipeline:2 link:1 drilling:1 santa:1 barbara:1 calif:1 texas:1 refinery:1 would:1 separately:1 concern:1 speculation:1 price:1 tag:1 high:1 fire:1 sale:1 go:1 keep:1 profitable:1 throughout:1 1st:1 operating:1 base:1 new:1 total:1 repurchase:1 last:1 fend:1 sir:1 james:1 goldsmith:1 hostile:1 takeover:1 bid:1 | GOODYEAR <GT> TO SELL CELERON
Goodyear Tire and Rubber Co said it
expects to sell its Celeron Corp oil and gas subsidiary for
about two billion dlrs in about two months.
After the company's annual meeting, Rober Mercer,
Goodyear's chairman and chief executive officer, also said
Goodyear expects to report a profit of more than one dlr a
share from continuing operations in the first quarter. In the
same year-ago period, Goodyear reported a loss of 64 cents a
share from continuing operations.
Mercer said about seven companies are interested in buying
Celeron and they may form a consortium to buy the unit.
Celeron consists of oil and gas reserves and an almost
complete pipeline linking drilling operations in Santa Barbara,
Calif., to Texas refineries. Mercer said Celeron's reserves
would not be sold separately from the pipeline.
Concerning speculation that two billion dlr price tag for
Celeron was too high, Mercer said 'There is no fire sale going
on here and we can continue to keep Celeron as a profitable
operation throughout the year.'
Mercer said the expected 1st quarter operating profit was
based on the new share total after Goodyear's share repurchase
last year to fend off Sir James Goldsmith's hostile takeover
bid.
|
test/16486 | test/16486 |@title new:1 england:1 savings:1 bank:1 nesb:1 1st:1 qtr:1 net:1 |@word shr:1 44:1 ct:1 vs:2 give:1 net:1 3:1 499:1 000:2 2:1 295:1 note:1 convert:1 stock:1 ownership:1 aug:1 1:1 1986:1 | NEW ENGLAND SAVINGS BANK <NESB> 1ST QTR NET
Shr 44 cts vs not given
Net 3,499,000 vs 2,295,000
NOTE: Converted to stock ownership Aug 1, 1986.
|
test/16487 | test/16487 |@title american:1 national:1 corp:1 fnb:1 1st:1 qtr:1 net:1 |@word net:1 12:2 8:3 mln:2 vs:4 2:5 loan:1 billion:6 5:2 deposit:1 3:2 9:1 asset:1 4:1 note:1 american:1 national:1 corp:2 wholly:1 subsidiary:1 first:1 chicago:1 | AMERICAN NATIONAL CORP <FNB> 1ST QTR NET
Net 12.8 mln vs 12.2 mln
Loans 2.8 billion vs 2.5 billion
Deposits 3.2 billion vs 2.9 billion
Assets 4.5 billion vs 3.8 billion
NOTE: American National Corp is a wholly-owned subsidiary
of First Chicago Corp.
|
test/16488 | test/16488 |@title ab:2 astra:1 share:1 split:1 widen:1 foreign:1 ownership:1 |@word astra:4 ast:1 st:1 say:2 propose:2 two:1 one:4 share:6 split:1 issue:1 june:1 new:1 series:2 foreign:3 target:1 low:1 voting:3 right:3 part:1 strategy:1 internationalise:1 company:1 deal:1 require:1 swedish:1 government:1 approval:1 raise:1 percentage:1 allow:1 medical:1 group:1 22:1 5:1 pct:2 20:1 extraordinary:1 meeting:1 board:1 creation:1 b:1 free:2 open:1 buyer:1 tenth:1 per:1 present:1 stock:1 consist:1 restricted:1 | AB ASTRA SHARE SPLIT TO WIDEN FOREIGN OWNERSHIP
AB Astra <ASTS.ST> said it was
proposing a two-for-one share split and the issue in June of a
new series of foreign-targeted shares with lower voting rights
as part of a strategy to internationalise the company.
The deal, which requires Swedish government approval, will
raise the percentage of foreign voting rights allowed in the
medical group to 22.5 pct from 20 pct, Astra said.
An extraordinary meeting of Astra's board proposed the
creation of B free shares open to foreign buyers with one tenth
of a voting right per share. At present, Astra stock consists
of one series of restricted shares and one of free shares.
|
test/16490 | test/16490 |@title corrected:1 national:1 westminster:1 bank:1 usa:1 1st:1 qtr:1 |@word net:1 17:1 7:1 mln:4 vs:3 15:1 3:1 note:1 national:1 westminster:1 bank:1 plc:1 subsidiary:2 loan:1 loss:1 provision:1 13:2 8:1 0:1 investment:1 security:1 gain:1 2:1 003:1 000:2 dlrs:2 169:1 figure:1 dollar:1 correct:1 name:1 parent:1 | CORRECTED-<NATIONAL WESTMINSTER BANK USA>1ST QTR
Net 17.7 mln vs 15.3 mln
NOTE: <National Westminster Bank PLC> subsidiary.
Loan loss provision 13.8 mln vs 13.0 mln
Investment securities gains 2,003,000 dlrs vs 169,000 dlrs.
Figures in dollars.
Corrects name to subsidiary from parent.
|
test/16492 | test/16492 |@title one:1 bancorp:1 tone:1 1st:1 qtr:1 net:1 |@word shr:2 76:1 ct:2 vs:4 51:1 net:1 5:1 952:1 000:3 4:1 374:1 avg:1 shrs:1 7:2 837:1 511:1 446:1 356:1 note:1 include:2 gain:1 1:2 3:1 mln:1 dlrs:2 239:1 benefit:1 tax:1 loss:1 carryforward:1 operation:1 bank:1 hartford:1 acquire:1 feb:1 23:1 year:1 ago:1 figure:1 reflect:1 2:1 split:1 april:1 15:1 1986:1 | THE ONE BANCORP <TONE> 1ST QTR NET
Shr 76 cts vs 51 cts
Net 5,952,000 vs 4,374,000
Avg shrs 7,837,511 vs 7,446,356
NOTE: Includes gains of 1.3 mln dlrs vs 239,000 dlrs from
benefit of tax loss carryforwards.
Includes operations of Bank of Hartford, acquired Feb 23.
Year-ago shr figures reflect 2-for-1 split on April 15,
1986.
|
test/16493 | test/16493 |@title quest:1 nqrlf:1 make:1 bid:1 northair:1 nrm:1 |@word quest:4 resources:1 inc:1 say:2 make:1 takeover:1 offer:1 acquire:2 share:3 northair:3 mines:1 ltd:1 basis:1 one:2 plus:1 dlr:1 two:1 plan:1 bring:1 willa:1 mine:1 nelson:1 area:2 british:1 columbia:1 production:1 use:1 recently:1 1200:1 ton:1 per:1 day:1 mill:1 locate:1 | NOR-QUEST <NQRLF> MAKES BID FOR NORTHAIR <NRM.TO>
Nor-Quest Resources
Inc said it will make a takeover offer to acquire all shares of
Northair Mines Ltd on the basis of one Nor-Quest share plus one
dlr for two shares of Northair.
Nor-Quest said it plans to bring Northair's Willa Mine in
the Nelson area of British Columbia into production using
Nor-Quest's recently acquired 1200-ton per day mill located in
the area.
|
test/16495 | test/16495 |@title aristech:1 ars:1 say:1 1st:1 qtr:1 shr:1 estimate:1 right:1 |@word aristech:3 chemical:1 corp:1 chairman:1 chief:1 executive:1 officer:1 thomas:1 marshall:5 say:4 analyst:3 estimate:4 1987:1 fiscal:2 year:4 earning:3 2:2 25:1 dlrs:4 50:2 per:4 share:4 right:1 address:1 gathering:1 institutional:1 investor:1 also:2 first:4 qtr:1 ct:3 55:1 ballpark:1 full:1 represent:1 32:1 pct:2 increase:1 1986:2 net:2 1:1 70:2 quarter:3 high:1 29:1 attributibute:1 growth:2 several:1 factor:1 include:1 sustained:1 demand:1 major:1 domestic:1 market:1 continued:1 export:1 plan:1 spend:1 approximately:1 200:1 mln:1 capital:1 investment:1 next:1 three:1 add:1 | ARISTECH <ARS> SAYS 1ST QTR SHR ESTIMATE RIGHT
Aristech Chemical Corp chairman and
chief executive officer Thomas Marshall said analysts'
estimates of its 1987 fiscal year earnings of 2.25 dlrs to 2.50
dlrs per share are about right.
Addressing a gathering of analysts and institutional
investors, Marshall also said that analysts' estimates of its
first qtr earnings - 50 cts to 55 cts per share - were 'in the
ballpark.'
Marshall said the full year estimates represent more than a
32 pct increase over 1986's fiscal year net of 1.70 dlrs per
share.
He also said the first quarter estimates were 70 pct higher
than 1986's first quarter net of 29 cts per share.
Marshall attributibuted the first quarter earnings growth to
several factors, including sustained demand in Aristech's major
domestic markets and continued growth in exports.
Aristech plans to spend approximately 200 mln dlrs over in
capital investments over the next three years, Marshall added.
|
test/16496 | test/16496 |@title united:1 telecom:1 ut:1 report:1 us:1 sprint:1 loss:1 |@word united:4 telecommunications:4 inc:1 say:3 low:1 first:2 quarter:2 earning:2 include:1 loss:1 63:1 055:1 000:1 dlrs:5 equity:1 us:3 sprint:3 form:1 july:1 1:1 1986:1 partnership:1 combine:1 long:1 distance:1 voice:1 datum:1 operation:1 gte:2 corp:1 earlier:1 report:1 12:1 6:2 mln:4 13:1 ct:2 share:2 compare:1 46:1 4:1 47:1 year:1 ago:1 revenue:1 decline:1 720:1 2:1 793:1 transition:2 nationwide:1 fiberoptic:1 network:4 proceed:1 ahead:1 schedule:1 fiber:1 interim:1 would:1 reduce:1 operating:1 cost:1 second:1 half:1 1987:1 also:1 assist:1 control:1 unauthorized:1 use:1 | UNITED TELECOM <UT> REPORTS US SPRINT LOSS
United Telecommunications Inc
said its lower first quarter earnings included a loss of
63,055,000 dlrs from its equity in US Sprint.
US Sprint was formed July 1, 1986, as a partnership which
combined United Telecommunications' long distance voice and
data operations with those of GTE Corp <GTE>.
Earlier, United Telecommunications reported first-quarter
earnings of 12.6 mln dlrs, or 13 cts a share compared to 46.4
mln dlrs, or 47 cts a share a year ago. Revenues declined to
720.2 mln dlrs from 793.6 mln dlrs.
United Telecommunications said the transition of US
Sprint's nationwide fiberoptic network is proceeding ahead of
schedule.
It said the transition to the fiber network from interim
networks would not only reduce operating costs in the second
half of 1987, but also assist in controlling unauthorized
network use.
|
test/16499 | test/16499 |@title canada:1 approve:1 u:1 gas:1 export:1 progas:1 |@word progas:1 ltd:1 issue:1 export:1 licence:1 sell:1 10:1 3:1 billion:1 cubic:1 meter:1 natural:1 gas:1 ocean:1 state:1 power:1 co:1 burrillville:1 rhode:1 island:1 federal:1 energy:2 department:1 say:1 sale:1 cover:1 20:1 year:1 period:1 begin:1 may:1 1:1 1989:1 previously:1 recommend:1 national:1 board:1 contract:1 term:1 release:1 | CANADA APPROVES U.S. GAS EXPORTS BY PROGAS
ProGas Ltd was issued an export licence
to sell 10.3 billion cubic meters of natural gas to Ocean State
Power Co of Burrillville, Rhode Island, the federal energy
department said.
The sale, covering a 20 year period beginning May 1, 1989,
was previously recommended by the National Energy Board.
Contract terms were not released.
|
test/16502 | test/16502 |@title brand:1 company:1 bran:1 see:1 first:1 quarter:1 loss:1 |@word brand:2 companies:1 inc:1 say:2 expect:2 report:3 1987:1 first:2 quarter:2 loss:2 15:1 17:1 ct:2 share:1 revenue:2 20:1 22:1 mln:2 dlrs:2 1986:1 earning:1 21:1 28:1 5:1 reason:1 give:1 final:1 quarterly:1 result:1 toward:1 end:1 month:1 beginning:1 may:1 company:1 spokesman:1 | BRAND COMPANIES <BRAN> SEES FIRST QUARTER LOSS
Brand Companies Inc said it expects to
report a 1987 first quarter loss of 15 to 17 cts a share on
revenues of 20 to 22 mln dlrs.
In the 1986 first quarter, Brand reported earnings of 21
cts on revenues of 28.5 mln dlrs.
No reason was given for the expected loss.
Final quarterly results will be reported toward the end of
the month or the beginning of May, a company spokesman said.
|
test/16505 | test/16505 |@title u:1 february:1 trade:1 report:1 new:1 basis:1 |@word february:3 monthly:4 merchandise:1 trade:3 figure:5 report:2 tuesday:1 commerce:2 department:1 new:1 basis:1 reflect:1 recent:1 datum:2 avoid:1 future:1 revision:1 official:2 say:2 overall:1 january:1 deficit:1 14:1 8:1 billion:1 dlrs:1 revise:2 final:2 one:1 previously:1 initial:1 subsequent:1 month:1 time:1 lag:1 compiling:1 estimate:1 import:2 export:2 reporting:1 delay:1 several:1 week:1 permit:1 gather:1 late:1 give:1 clear:1 picture:1 balance:1 | U.S. FEBRUARY TRADE TO BE REPORTED ON NEW BASIS
The February monthly merchandise
trade figures to be reported Tuesday by the Commerce Department
will be on a new basis reflecting more recent data, so avoiding
future revisions of the monthly figure, Commerce officials
said.
The overall January deficit of 14.8 billion dlrs will be
revised, but the February figure will be a final one, officials
said.
Previously, the initial monthly figure has had to be
revised in subsequent months because of the time lag between
the report and the compiling of final estimates on imports and
exports.
The reporting of the February trade data was delayed
several weeks to permit gathering latest figures on imports and
exports to give a clearer picture of the monthly trade balance.
|
test/16510 | test/16510 |@title boothe:1 bcmp:1 make:1 acquisition:1 |@word boothe:2 financial:1 corp:1 diversified:1 hold:1 company:2 say:3 acquire:1 robert:4 half:4 accountemps:2 franchise:2 new:1 england:1 include:1 four:1 office:3 boston:1 eastern:1 massachusetts:1 one:1 providence:1 r:1 previously:1 announce:1 purchase:2 international:2 inc:1 franchisor:1 u:1 aggregate:1 price:1 pay:1 59:1 mln:1 dlrs:1 | BOOTHE <BCMP.O> MAKES ACQUISITION
Boothe Financial Corp, a
diversified holding company, said it has acquired the <Robert
Half and Accountemps> franchises in New England, including four
offices in Boston and Eastern Massachusetts and one office in
Providence, R.I.
Boothe said it previously announced the purchase of <Robert
Half International Inc> the franchisor of the Robert Half and
Accountemps offices in the U.S.
The company said the aggregate purchase price it paid for
Robert Half International and the franchises was about 59 mln
dlrs.
|
test/16512 | test/16512 |@title atlantic:1 financial:1 atlf:1 acquire:1 l:1 |@word atlantic:4 financial:1 say:3 sign:1 definitive:1 agreement:1 acquire:2 centurion:3 saving:1 loan:1 association:1 disclose:1 purchase:1 price:1 originally:1 announce:1 intention:1 locate:1 los:1 angeles:1 feb:1 23:1 1987:1 asset:1 105:1 mln:1 dlrs:1 | ATLANTIC FINANCIAL <ATLF.O> TO ACQUIRE S AND L
Atlantic Financial said it
signed a definitive agreement to acquire <Centurion Savings and
Loan Association>.
Atlantic did not disclose the purchase price.
Atlantic said it originally announced its intention to
acquire Centurion, located in Los Angeles, on Feb 23, 1987.
Centurion has assets of 105 mln dlrs, Atlantic said.
|
test/16513 | test/16513 |@title gaf:3 see:1 raise:1 borg:1 warner:1 bor:1 bid:1 |@word corp:4 set:1 acquire:2 borg:11 warner:10 valuable:1 plastic:4 business:6 believe:2 analyst:9 prepare:1 increase:1 offer:6 chicago:1 base:1 company:6 yesterday:1 say:18 agree:1 4:1 23:1 billion:2 dlrs:11 form:1 merrill:4 lynch:3 capital:1 partners:1 48:1 50:3 cash:2 per:6 share:6 89:1 pct:2 common:1 stock:5 package:1 security:2 balance:1 rise:5 1:2 3:4 8:2 49:1 5:1 think:4 price:3 tell:1 gaf:15 come:1 another:2 bid:2 one:3 value:1 51:1 52:1 46:1 hold:1 19:1 9:1 cat:1 mouse:1 game:1 go:2 obviously:1 nobody:1 want:1 pay:2 look:2 way:1 worth:2 pershe:1 co:4 richard:1 henderson:4 estimate:1 abouth:1 55:1 review:1 situation:2 official:1 return:2 phone:1 call:1 chairman:1 samuel:1 heyman:3 seek:1 chemical:9 rigid:1 use:1 thing:1 telephone:1 computer:1 terminal:1 appliance:1 heck:1 buy:1 world:1 class:1 operation:1 day:1 get:2 buck:1 heavy:1 hitter:1 like:1 push:1 around:1 roofing:1 concern:1 attempt:1 takeover:1 much:2 large:2 union:1 carbide:2 two:1 year:1 ago:1 win:3 make:1 substantial:1 gain:1 investment:2 already:1 profit:5 build:2 holding:1 even:1 raise:1 succeed:1 high:2 would:6 give:1 million:1 dollar:1 speculate:1 forthcoming:1 shortly:1 finally:1 final:1 paragraph:1 book:1 include:2 automotive:1 part:1 protective:1 service:2 wells:1 fargo:1 guard:1 chilton:1 credit:1 rating:1 charle:1 oppenheimer:1 follow:1 sell:2 realize:1 125:1 mln:4 net:2 probability:1 rose:1 however:1 could:1 really:1 predict:1 sam:1 low:1 risk:1 player:1 try:2 major:1 industrial:1 enterprise:1 bank:1 add:2 earning:2 momentum:1 work:1 still:1 additive:1 time:1 non:1 facility:1 john:1 henry:1 e:1 f:1 hutton:1 provide:1 1986:2 operate:1 153:1 revenue:1 04:1 total:1 operating:1 349:1 7:1 206:1 great:1 u:1 competitor:1 monsanto:1 mct:1 dow:2 | GAF <GAF> SEEN RAISING BORG-WARNER <BOR> BID
GAF Corp, set on acquiring Borg-Warner
Corp's valuable plastics business, is believed by analysts to
be preparing an increased offer for the Chicago-based company.
Yesterday, Borg-Warner said it agreed to be acquired for
4.23 billion dlrs by a company to be formed by Merrill Lynch
Capital Partners. Merrill offered 48.50 dlrs cash per share for
89 pct of Borg-Warner's common stock, and a package of cash and
securities for the balance.
Borg-Warner stock rose 1-3/8 to 49-5/8.
'I think it's (the stock price) telling us GAF is coming in
with another bid,' said one analyst, who values the company at
51 or 52 dlrs per share.
GAF has offered 46 dlrs per share. It holds 19.9 pct of
Borg-Warner's stock.
'You're in a cat and mouse game on how you're going to up
the price. Obviously, nobody wants to pay more than you have
to. I think GAF is looking at the company the way we're looking
at it - that it's worth more,' Pershing and Co analyst Richard
Henderson said.
Henderson estimated it is worth abouth 55 dlrs per share.
GAF has only said it was reviewing the situation. Merrill
Lynch officials did not return phone calls.
Analysts have said they believe GAF Chairman Samuel Heyman
sought Borg-Warner because of its chemicals and plastics
business. The rigid plastics are used in such things as
telephones, computer terminals, and appliances.
'Where the heck can you buy a world class chemical
operation these days,' said Henderson.
'He's (Heyman's) got the bucks. He's a heavy hitter, and he
does not like to get pushed around,' said Henderson.
GAF, a roofing and chemicals concern, attempted a takeover
of the much larger Union Carbide Corp two years ago. While GAF
did not win the company, it made a substantial gain on its
investment in Carbide.
Analysts said GAF already has a large profit built into its
Borg-Warner holdings. They said even if GAF raises its offer
and does not succeed, a higher bid from another company would
give GAF millions of dollars in profits on its stock.
'It's a win-win situation,' said one analyst.
One analyst speculated an offer from GAF would be
forthcoming shortly.
'I think we are finally down to the final paragraph in this
book,' he said.
Borg-Warner's other businesses include automotive parts,
protective services, which includes Wells Fargo security
guards, and Chilton Corp, a credit rating service.
Charles Rose, an Oppenheimer and Co analyst who follows
GAF, said if GAF were to sell into the Merrill Lynch offer, it
would realize about 125 mln dlrs net profit, or about 3.50 per
share.
'I think there's a probability he goes up in price,' said
Rose.
Rose said, however, he could not really predict what Heyman
would do. 'Sam's a low-risk, high-return player.'
'Is he trying to build a major industrial chemical
enterprise, or is he trying to be an investment bank,' Rose
said.
Analysts said Borg-Warner's chemical business would add
earnings momentum to GAF. 'I worked out that paying as much as
50 dlrs per share would still be additive to GAF in time, if
they sold off most of the non-chemical facilities,' said John
Henry of E.F. Hutton.
Borg-Warner's chemical and plastics business provided 1986
operating profits of 153.3 mln dlrs on revenues of 1.04 billion
dlrs. Total operating profits were 349.7 mln dlrs, and net
earnings were 206.3 mln dlrs for 1986.
'The Borg chemical business is great,' said Rose, adding
its only U.S. competitors are Monsanto Co <MCT> and Dow
Chemical Co <DOW>.
|
test/16518 | test/16518 |@title pueblo:1 international:1 inc:1 pii:1 set:1 payout:1 |@word qtly:1 div:1 five:2 ct:2 vs:1 prior:1 pay:1 june:1 two:1 record:1 april:1 27:1 | PUEBLO INTERNATIONAL INC <PII> SETS PAYOUT
Qtly div five cts vs five cts prior
Pay June Two
Record April 27
|
test/16519 | test/16519 |@title swift:1 sftpf:1 sell:1 south:1 dakota:1 pork:1 plant:1 |@word swift:2 independent:1 packing:1 co:1 say:2 agree:1 principle:1 sell:1 huron:3 south:1 dakota:1 pork:1 plant:2 dress:1 beef:1 undisclosed:1 term:1 completion:1 propose:1 transaction:1 subject:1 ability:1 hire:1 experienced:1 work:1 force:1 competitive:1 rate:1 receive:1 government:1 approval:1 purchase:1 operation:1 | SWIFT <SFTPF> TO SELL SOUTH DAKOTA PORK PLANT
Swift Independent Packing Co said it
agreed in principle to sell its Huron, South Dakota pork plant
to Huron Dressed Beef, for undisclosed terms.
Completion of the proposed transaction is subject to
Huron's ability to hire an experienced work force at
competitive rates, and receive government approval of the
purchase and operation of the plant, Swift said.
|
test/16521 | test/16521 |@title gen:1 term:1 corp:1 acquire:1 private:1 firm:1 |@word gen:3 term:3 corp:1 say:3 enter:1 escrow:1 5:1 2:1 mln:2 dlr:1 purchase:1 lewis:2 westco:2 co:1 privately:1 hold:1 bottler:1 distributor:1 wine:1 distil:1 spirit:1 sale:1 45:1 dlrs:1 fiscal:1 year:1 end:1 june:1 30:1 also:1 separately:1 trade:1 counter:1 plan:1 apply:1 nasdaq:1 list:1 complete:1 acquisition:1 | <GEN TERM CORP> ACQUIRES PRIVATE FIRM
Gen Term Corp said it entered
into escrow for the 5.2 mln dlr purchase of Lewis-Westco and
Co, a privately-held bottler and distributor of wines and
distilled spirits.
Lewis-Westco had sales of more than 45 mln dlrs for its
fiscal year ended June 30, Gen Term also said.
Separately, Gen Term, which trades over-the-counter, said
it plans to apply for NASDAQ listing after it completes the
acquisition.
|
test/16522 | test/16522 |@title c:1 r:1 clothiers:1 inc:1 jan:1 31:1 year:1 net:1 |@word shr:1 1:3 46:1 dlrs:1 vs:3 66:1 ct:1 net:1 514:1 312:1 714:1 670:1 sale:1 62:1 mln:2 57:1 2:1 | <C AND R CLOTHIERS INC> JAN 31 YEAR NET
Shr 1.46 dlrs vs 66 cts
Net 1,514,312 vs 714,670
Sales 62.1 mln vs 57.2 mln
|
test/16523 | test/16523 |@title ccx:2 network:1 ccxn:1 make:1 acquisition:1 |@word network:1 inc:3 say:2 enter:1 letter:1 intent:1 acquire:1 privately:1 hold:1 modern:2 mailers:1 affiliate:1 anwalt:1 3:1 200:1 000:2 dlrs:2 common:1 stock:1 company:1 mailer:1 revenue:1 8:1 600:1 year:1 end:1 october:1 31:1 provide:1 computer:2 service:1 printing:1 lettershop:1 facility:1 | CCX NETWORK <CCXN> TO MAKE ACQUISITION
CCX Network Inc said it has
entered into a letter of intent to acquire privately-held
<Modern Mailers Inc> and its affiliate <AnWalt Inc> for about
3,200,000 dlrs in common stock.
The company said Modern Mailers had revenues of 8,600,000
dlrs for the year ended October 31 and provides computer
service, computer printing and lettershop facilities.
|
test/16525 | test/16525 |@title u:1 corn:1 export:1 see:1 well:1 ahead:1 last:1 year:1 |@word grain:1 trader:1 analyst:1 expect:1 today:1 weekly:1 u:1 corn:2 export:5 inspection:2 figure:1 well:1 last:5 year:4 wheat:2 slightly:1 better:1 soybean:2 guess:2 range:3 40:1 0:6 44:1 mln:9 bushel:3 week:5 end:1 april:1 9:1 compare:2 46:1 6:1 inspect:1 early:1 15:2 2:3 ago:1 estimate:1 12:1 versus:1 10:1 8:1 13:1 16:2 20:1 4:1 11:1 | U.S. CORN EXPORTS SEEN WELL AHEAD OF LAST YEAR
Grain traders and analysts expect
today's weekly U.S. corn export inspection figure to be well
above last year, with wheat slightly better and soybeans about
the same.
Corn export inspection guesses ranged from 40.0 to 44.0 mln
bushels for the week ended April 9, compared up 46.6 mln
inspected a week earlier and 15.2 mln in the year-ago week.
Soybean export estimates ranged from 12.0 to 15.0 mln
bushels versus 10.8 mln exported last week and 13.2 mln last
year.
Export guesses for all wheat ranged from 16.0 to 20.0 mln
bushels, compared with 16.4 mln last week and 11.2 mln last
year.
|
test/16527 | test/16527 |@title personal:1 computer:1 product:1 pcpi:1 expect:1 loss:1 |@word personal:2 computer:2 products:1 inc:1 say:3 expect:4 report:2 loss:4 195:1 000:8 dlrs:7 third:1 quarter:3 end:2 march:2 31:2 compare:4 year:4 ago:2 169:1 revenue:2 1:2 200:1 564:1 earlier:1 nine:2 month:2 net:1 325:1 584:1 previous:1 3:1 880:1 828:1 company:1 earning:1 soon:1 | PERSONAL COMPUTER PRODUCTS <PCPI.O> EXPECTS LOSS
Personal Computer Products
Inc said it expects to report a loss of about 195,000 dlrs in
its third quarter ended March 31, compared to a year ago loss
in the quarter of 169,000 dlrs.
It said revenues in the quarter are expected to be about
1,200,000 dlrs, compared to 564,000 dlrs a year earlier.
For the nine months ended March 31, Personal Computer
expects a net loss of about 325,000 dlrs, compared to a loss of
584,000 dlrs the previous year. Revenues in the nine months are
expected to be about 3,880,000 dlrs, compared to 1,828,000 a
year ago. The company said it will report its earnings soon.
|
test/16530 | test/16530 |@title great:2 northern:2 nekoosa:2 first:2 qtr:2 shr:2 1:2 59:2 dlrs:2 vs:2 54:2 ct:2 |@word | GREAT NORTHERN NEKOOSA FIRST QTR SHR 1.59 DLRS VS 54 CTS
GREAT NORTHERN NEKOOSA FIRST QTR SHR 1.59 DLRS VS 54 CTS
|
test/16531 | test/16531 |@title gander:1 gndr:1 buy:1 western:1 wear:1 retailer:1 |@word gander:1 mountain:1 inc:1 say:2 acquire:1 privately:1 hold:1 western:3 ranchman:2 outfitter:1 catalog:1 point:1 purchase:2 retailer:1 apparel:1 base:1 cheyenne:1 wyo:1 sale:1 year:1 end:1 jan:1 31:1 1987:1 2:2 mln:1 dlrs:1 make:1 undisclosed:1 amount:1 cast:1 | GANDER <GNDR.O> BUYS WESTERN WEAR RETAILER
Gander Mountain Inc said it
acquired the privately held Western Ranchman Outfitters, a
catalog and point-of-purchase retailer of western apparel based
in Cheyenne, Wyo.
It said Western Ranchman had sales for the year ended Jan
31, 1987 of about 2.2 mln dlrs.
The purchase was made for an undisclosed amount of cast.
|
test/16533 | test/16533 |@title great:1 northern:1 nekoosa:1 gnn:1 1st:1 qtr:1 net:1 |@word shr:1 1:2 59:1 dlrs:3 vs:4 54:1 ct:1 net:2 43:1 3:2 mln:7 13:1 9:2 revs:1 566:1 7:1 487:1 8:1 avg:1 shrs:1 27:1 2:1 25:1 note:1 1986:3 figure:1 restate:1 adoption:1 financial:1 accounting:1 standards:1 board:1 statement:1 87:1 employer:1 account:1 pension:1 1987:2 include:1 900:1 000:1 investment:1 tax:1 credit:1 | GREAT NORTHERN NEKOOSA <GNN> 1ST QTR NET
Shr 1.59 dlrs vs 54 cts
Net 43.3 mln vs 13.9 mln
Revs 566.7 mln vs 487.8 mln
Avg shrs 27.2 mln vs 25.9 mln
NOTE: 1986 figures restated for adoption of financial
accounting standards board statement 87 'employer's accounting
for pensions.'
Net 1986 and 1987 includes 900,000 dlrs of investment tax
credits in 1987, and 3.1 mln dlrs in 1986.
|
test/16538 | test/16538 |@title american:1 health:1 properties:1 inc:1 ahe:1 1st:1 qtr:1 |@word shr:1 18:1 ct:1 net:1 1:1 948:1 000:2 revs:1 3:1 397:1 note:1 company:1 begin:1 operate:1 february:1 20:1 1987:1 | AMERICAN HEALTH PROPERTIES INC <AHE> 1ST QTR
Shr 18 cts
Net 1,948,000
Revs 3,397,000
Note: Company began operating on February 20, 1987.
|
test/16539 | test/16539 |@title wells:1 fargo:2 co:2 1st:2 qtr:2 shr:2 1:4 36:2 dlrs:4 vs:2 13:2 well:1 |@word | WELLS FARGO AND CO 1ST QTR SHR 1.36 DLRS VS 1.13 DLRS
WELLS FARGO AND CO 1ST QTR SHR 1.36 DLRS VS 1.13 DLRS
|
test/16545 | test/16545 |@title wells:1 fargo:1 co:1 wfc:1 1st:1 qtr:1 net:1 |@word shr:1 1:2 36:1 dlrs:2 vs:6 13:1 net:1 78:1 3:1 mln:2 51:1 6:1 avg:1 shrs:1 53:1 698:1 000:2 43:2 449:1 loan:1 35:1 89:1 billion:6 24:1 66:1 deposit:1 31:1 71:1 19:1 64:1 asset:1 98:1 28:1 60:1 | WELLS FARGO AND CO <WFC> 1ST QTR NET
Shr 1.36 dlrs vs 1.13 dlrs
Net 78.3 mln vs 51.6 mln
Avg shrs 53,698,000 vs 43,449,000
Loans 35.89 billion vs 24.66 billion
Deposits 31.71 billion vs 19.64 billion
Assets 43.98 billion vs 28.60 billion
|
test/16546 | test/16546 |@title comerica:1 inc:1 cmca:1 1st:1 qtr:1 net:1 |@word shr:2 1:4 78:1 dlrs:4 vs:7 12:1 dilute:1 72:1 08:1 net:1 20:1 029:1 000:2 13:1 059:1 avg:1 shrs:1 10:2 598:1 481:1 430:1 649:1 loan:1 843:1 4:1 mln:2 727:1 5:1 deposit:1 8:1 30:1 billion:4 7:1 82:1 asset:1 9:2 89:1 27:1 note:1 per:1 share:1 result:1 reflect:1 payment:1 preferred:1 dividend:1 | COMERICA INC <CMCA.O> 1ST QTR NET
Shr 1.78 dlrs vs 1.12 dlrs
Shr diluted 1.72 dlrs vs 1.08 dlrs
Net 20,029,000 vs 13,059,000
Avg shrs 10,598,481 vs 10,430,649
Loans 843.4 mln vs 727.5 mln
Deposits 8.30 billion vs 7.82 billion
Assets 9.89 billion vs 9.27 billion
NOTE: Per-share results reflect payment of preferred
dividends
|
test/16549 | test/16549 |@title champion:1 products:1 ch:1 set:1 pay:1 date:1 split:1 |@word champion:1 products:1 inc:1 say:1 two:1 one:2 stock:1 split:1 declare:1 february:1 26:1 payable:1 april:2 24:1 shareholder:1 record:1 | CHAMPION PRODUCTS <CH> SETS PAY DATE FOR SPLIT
Champion Products Inc said the
two-for-one stock split it declared February 26 will be payable
April 24 to shareholders of record April One.
|
test/16551 | test/16551 |@title spearhead:1 industries:1 inc:1 sprh:1 3rd:1 qtr:1 net:1 |@word periods:1 end:1 feb:1 28:1 shr:2 22:1 ct:4 vs:8 30:1 net:2 549:1 000:4 747:1 sale:2 8:1 4:1 mln:4 nine:2 avg:2 shrs:2 2:4 550:1 784:1 468:1 964:1 mth:1 69:1 63:1 1:2 749:1 554:1 23:1 6:1 21:1 3:1 543:1 711:1 453:1 520:1 | SPEARHEAD INDUSTRIES INC <SPRH.O> 3RD QTR NET
Periods ended Feb 28
Shr 22 cts vs 30 cts
Net 549,000 vs 747,000
Sales 8.4 mln vs nine mln
Avg shrs 2,550,784 vs 2,468,964
Nine mths
Shr 69 cts vs 63 cts
Net 1,749,000 vs 1,554,000
Sales 23.6 mln vs 21.3 mln
Avg shrs 2,543,711 vs 2,453,520
|
test/16554 | test/16554 |@title kdi:2 corp:1 1st:1 qtr:1 march:1 31:1 |@word shr:1 18:1 ct:2 vs:3 six:1 net:1 1:1 7:2 mln:3 610:1 000:1 rev:1 68:1 63:1 5:1 | KDI CORP <KDI> 1ST QTR MARCH 31
Shr 18 cts vs six cts
Net 1.7 mln vs 610,000
Revs 68.7 mln vs 63.5 mln
|
test/16555 | test/16555 |@title rj:1 nabisco:1 rjr:2 unit:1 sell:1 cigar:1 business:1 |@word nabisco:1 inc:1 rj:3 reynolds:5 tobacco:4 usa:3 unit:1 say:4 reach:1 definitive:1 agreement:1 sell:1 winchester:3 little:2 cigar:2 business:1 exporters:1 international:2 ltd:1 atlanta:1 u:1 subsidiary:1 rothman:1 plc:1 term:1 disclose:1 last:1 week:1 announce:1 sale:4 four:1 smoking:1 brand:3 represent:1 less:1 one:1 pct:1 total:1 4:1 7:1 billion:1 dlrs:1 1986:1 expect:1 complete:1 april:1 24:1 company:1 plan:1 concentrate:1 resource:1 manufacture:1 cigarette:1 introduce:1 1971:1 dominant:1 market:1 | RJ NABISCO'S <RJR> UNIT SELLS CIGAR BUSINESS
RJR Nabisco Inc's RJ
Reynolds Tobacco USA unit said it reached a definitive
agreement to sell Winchester Little Cigar Business to Tobacco
Exporters International USA Ltd of Atlanta, the U.S. subsidiary
of Rothman's International PLC.
Terms were not disclosed.
Last week, RJ Reynolds announced the sale of four smoking
tobacco brands. These brands and Winchester represent less than
one pct of Rj Reynolds Tobacco USA's total sales, which were
4.7 billion dlrs in 1986.
Reynolds said the sale is expected to be completed on April
24.
The company said it planned to concentrate its resources on
the manufacture and sale of cigarettes.
Reynolds said that Winchester, introduced in 1971, was a
dominant brand in the little cigar market.
|
test/16561 | test/16561 |@title software:1 services:1 america:1 inc:1 ssoa:1 net:1 |@word 3rd:1 qtr:1 feb:1 28:1 shr:2 profit:6 14:1 ct:4 vs:6 loss:2 four:1 net:2 311:1 994:1 66:1 858:1 rev:2 2:1 229:1 273:1 645:1 753:1 nine:1 mth:1 51:1 two:1 1:2 126:1 673:1 42:1 718:1 7:1 277:1 340:1 378:1 372:1 | SOFTWARE SERVICES OF AMERICA INC <SSOA.O> NET
3rd qtr Feb 28
Shr profit 14 cts vs loss four cts
Net profit 311,994 vs loss 66,858
Revs 2,229,273 vs 645,753
Nine mths
Shr profit 51 cts vs profit two cts
Net profit 1,126,673 vs profit 42,718
Revs 7,277,340 vs 1,378,372
|
test/16563 | test/16563 |@title gander:1 mountain:1 gndr:1 buy:1 western:1 wear:1 firm:1 |@word gander:2 mountain:2 inc:1 say:2 acquire:1 privately:1 hold:1 western:3 ranchman:2 outfitter:1 cheyenne:1 wyo:1 retailer:1 catalog:2 seller:1 apparel:1 term:1 disclose:1 sale:1 2:2 mln:1 dlrs:1 year:1 end:1 jan:1 31:1 1987:1 company:1 sell:1 brand:1 name:1 hunt:1 fishing:1 outdoor:1 gear:1 | GANDER MOUNTAIN <GNDR.O> BUYS WESTERN WEAR FIRM
Gander Mountain Inc said it
acquired privately held Western Ranchman Outfitters, a
Cheyenne, Wyo., retailer and catalog seller of western apparel.
Terms were not disclosed.
Western Ranchman had sales of about 2.2 mln dlrs for the
year ended Jan 31, 1987, the company said.
Gander Mountain sells brand name hunting, fishing and
outdoor gear through catalogs.
|
test/16564 | test/16564 |@title ec:1 meat:1 directive:1 deadline:1 see:1 flexible:1 u:1 |@word official:5 say:5 hold:1 little:1 hope:1 european:1 community:1 ec:13 would:4 withdraw:2 controversial:1 meat:10 inspection:3 requirement:1 due:1 go:1 effect:1 april:3 30:3 u:11 producer:1 claim:1 cut:1 export:2 expect:2 allow:2 plant:8 continue:3 ship:1 end:2 year:2 provide:1 submit:3 improvement:1 program:1 agriculture:1 department:1 call:1 third:1 country:1 directive:1 require:3 foreign:1 processing:1 comply:1 fully:1 standard:1 begin:1 industry:4 prepare:1 petition:3 request:1 reagan:1 administration:1 retaliate:1 rule:3 issue:1 value:1 132:1 mln:1 dlrs:1 1985:1 make:1 change:2 method:1 range:1 veterinary:1 staffing:1 use:1 wood:1 last:1 december:1 determine:1 one:3 cattle:1 hog:1 sheep:1 slaughter:1 facility:1 could:1 approve:1 without:1 review:3 usda:2 certify:1 correct:1 deficiency:1 remain:1 history:1 potential:1 shipping:1 total:1 nearly:1 400:1 significant:1 construction:1 procedure:1 robert:1 hibbert:1 general:1 counsel:1 american:1 institute:1 formal:1 trade:2 retaliation:1 interagency:1 committee:1 draft:1 representative:1 office:1 press:1 chance:1 good:1 time:1 however:1 expectation:1 government:1 circle:1 shipment:1 least:1 calendar:1 plan:1 bring:1 operation:1 conformity:1 regulation:1 ustr:1 | EC MEAT DIRECTIVE DEADLINE SEEN FLEXIBLE
U.S. officials said they held out
little hope the European Community, EC, would withdraw a
controversial meat inspection requirement, due to go into
effect April 30 and which U.S. meat producers claim will cut
off their exports.
But the officials said they expect the EC to allow U.S.
plants to continue shipping meat through the end of the year
provided they submit a plant improvement program with the U.S.
Agriculture Department.
The EC's so-called Third Country Meat Directive will
require foreign meat processing plants to comply fully with EC
inspection standards beginning April 30.
The U.S. meat industry has prepared a petition requesting
the Reagan administration to retaliate against the EC rule.
At issue are U.S. meat exports to the EC valued at 132 mln
dlrs in 1985.
The EC rule would require all U.S. plants to make changes
in their inspection methods, ranging from veterinary staffing
to use of wood.
Last December, the EC determined that only one U.S. cattle,
one hog and one sheep slaughtering facility could be approved
without further review. USDA would have to certify that the
plants had corrected the deficiencies.
All remaining plants with a history or potential of
shipping to the EC -- totaling nearly 400 -- would require more
significant changes in plant constructions or procedures before
further EC review.
Robert Hibbert, general counsel for the American Meat
Institute, said the meat industry expected to submit a formal
trade retaliation petition by April 30.
An interagency committee is reviewing the industry's draft
petition.
An official at the U.S. Trade Representative's Office said
U.S. officials continued to press the EC to withdraw the rule,
but that 'the chances of that are not too good at this time.'
However, there is the 'expectation' in U.S. government and
meat industry circles that the EC will continue to allow
shipments, at least through the end of the calendar year, from
U.S. plants that submit to USDA a plan on how they will bring
their operations into conformity with the EC regulation, the
USTR official said.
|
test/16565 | test/16565 |@title u:1 bank:1 likely:1 lift:1 prime:1 rate:1 soon:1 |@word major:2 u:5 bank:9 may:4 lift:4 prime:14 lending:1 rate:27 within:2 day:2 due:1 recent:3 increase:5 borrowing:1 cost:5 speculation:2 federal:2 reserve:7 nudge:1 interest:4 help:3 dollar:10 economist:3 say:18 first:1 boost:1 since:2 mid:1 1984:1 early:1 april:2 quarter:3 point:6 7:1 3:1 4:2 pct:9 cite:1 reduce:1 gap:1 money:3 spread:4 narrow:2 could:4 happen:1 soon:2 tonight:1 robert:1 brusca:2 nikko:1 securities:1 co:2 international:1 inc:1 rise:5 eight:1 justified:1 fund:5 less:1 three:1 percentage:2 average:1 around:1 1:5 last:1 october:1 fall:2 one:3 trigger:1 easily:1 another:3 week:2 david:1 jones:5 aubrey:1 g:1 lanston:2 get:1 fairly:2 good:1 chance:1 near:1 future:1 allan:1 leslie:3 discount:4 corp:2 base:2 funding:2 would:3 ordinarily:1 see:1 harold:1 nathan:3 wells:2 fargo:2 however:1 reluctant:1 dampen:1 already:1 weak:1 business:1 loan:1 demand:1 sure:1 fed:18 maintain:1 upward:3 pressure:6 market:6 believe:2 let:1 short:2 term:2 ail:1 widespread:1 belief:1 stay:1 high:4 occur:1 time:1 official:1 long:2 express:1 concern:1 steep:1 drop:1 rekindle:1 inflation:1 40:1 year:3 low:1 yen:1 friday:5 currency:2 trader:1 central:1 support:1 addition:1 buy:1 outright:1 way:1 stabilize:1 push:2 higher:1 relative:1 overseas:1 particularly:1 management:1 action:3 today:4 become:2 clear:1 fully:1 resist:1 supply:3 need:2 sharply:1 heighten:1 gently:1 firm:3 monetary:1 policy:7 far:1 expect:2 add:1 indirectly:1 small:1 amount:1 via:1 billion:2 dlrs:1 customer:2 repurchase:2 agreement:2 lend:1 6:2 5:3 16:1 trade:1 even:1 2:3 arrange:1 slightly:1 large:1 dlr:1 round:1 show:2 offer:1 token:1 resistance:1 focus:1 attention:1 mainly:1 defend:2 merely:1 shade:1 toward:1 restraint:1 impact:1 tighten:2 overtly:1 foster:1 restrictive:1 four:1 six:2 raise:1 well:1 accompany:1 west:1 german:1 japanese:1 cut:1 aid:1 give:1 likely:1 feed:1 yield:1 30:2 treasury:1 bond:1 8:2 end:2 june:1 nine:1 jury:1 still:1 whether:2 tax:1 date:1 lately:1 datum:1 abate:1 | U.S. BANKS LIKELY TO LIFT PRIME RATES AGAIN SOON
Major U.S. banks may lift prime
lending rates again within days due to recent increases in
their borrowing costs and speculation the Federal Reserve is
nudging up interest rates to help the dollar, economists said.
In what was the first prime rate boost since mid-1984, most
banks in early April lifted their rates a quarter point to
7-3/4 pct, citing a reduced gap between the prime and their own
cost of money. That spread has narrowed again.
'A prime rate increase could happen as soon as tonight,'
said Robert Brusca of Nikko Securities Co International Inc.
Brusca said a quarter-point prime rate rise to eight pct is
justified because the spread between banks' cost of funds and
the prime rate has narrowed to less than three quarters of a
percentage point.
He said that spread had averaged around 1.4 percentage
points since last October until it fell below one point and
triggered the April prime rate rise at most banks.
'We could easily have another prime rate increase as soon
as this week,' said David Jones of Aubrey G. Lanston and Co.
'We've got a fairly good chance of a prime rate rise in the
near future,' said Allan Leslie of Discount Corp.
'Based on the spread between the prime rate and funding
costs, you would ordinarily see a prime rate increase now,'
said Harold Nathan, economist at Wells Fargo Bank.
However, he said banks may be reluctant to lift the prime
because that would dampen already fairly weak business loan
demand and because some are not sure the Fed will maintain
recent upward pressure on money market interest rates.
Nathan believes the Fed has let market pressures lift
short-term rates in recent days to help the ailing dollar. He
said 'if there is widespread belief money market rates will
stay high, a prime rate rise could occur at any time.'
Fed officials have long expressed concern that too steep a
dollar drop could help rekindle U.S. inflation. As the dollar
fell to a 40-year low against the yen Friday, currency traders
said the Fed and other central banks supported the dollar.
In addition to buying dollars outright, another way to
stabilize the U.S. currency would be for the Fed to push U.S.
interest rates higher relative to overseas rates.
Based particularly on the Fed's reserve management actions
on Friday and today, Nathan of Wells Fargo said 'it has become
clear that the Fed is not fully resisting upward rate pressure
in the market. It is supplying fewer reserves than are needed.'
Bank funding costs and other short and long-term interest
rates rose sharply Friday and today on heightened speculation
that the Fed is gently firming monetary policy.
That was because the Fed supplied far fewer reserves in the
market than most economists had expected.
On Friday, the Fed added reserves indirectly and in small
amounts via one billion dlrs of customer repurchase agreements
with the Federal funds rate at which banks lend to one another
high at 6-5/16 pct. With funds trading even higher at 6-1/2 pct
today, the Fed arranged only a slightly larger 1.5 billion dlr
round of customer repurchase agreements.
'The Fed's actions on Friday and today show that it is
offering only token resistance to upward funds rate pressures,'
said Jones of Lanston.
'The Fed is focusing its policy attention mainly on the
need to defend the dollar,' Jones said. He believes it is
merely shading policy toward restraint now, 'but to have a
major impact on the dollar, the Fed will have to tighten policy
overtly at some point.'
Jones expects the Fed to foster higher market rates by
becoming more restrictive in supplying reserves and, within
four to six weeks, to raise its discount rate from 5-1/2 pct.
Jones said a U.S. discount rate increase to six pct might
well be accompanied by West German and Japanese rate cuts to
further aid the dollar.
Given likely Fed policy firming, he said both the yield on
30-year Treasury bonds (about 8.30 pct now) and the prime rate
may be at 8-1/2 pct at end-June and nine pct by year's end.
'The jury is still out on whether the Fed is tightening
policy to defend the dollar,' said Leslie of Discount Corp. He
said tax-date pressures have been pushing up Fed funds lately.
Leslie said Fed actions and reserve data once these pressures
abate will show whether or not it is firming policy.
|
test/16568 | test/16568 |@title health:1 rehabilitation:1 hrp:1 set:1 first:1 divi:1 |@word health:1 rehabilitation:1 property:1 trust:1 say:2 declare:1 initial:1 dividend:3 55:1 ct:3 per:1 share:1 quarter:2 end:2 march:2 31:3 1987:4 payable:1 may:1 20:2 shareholder:1 record:1 april:1 include:1 five:1 attributable:2 period:1 dec:1 23:1 1986:1 50:1 first:1 | HEALTH AND REHABILITATION <HRP> SETS FIRST DIVI
Health and Rehabilitation
Properties Trust said it declared its initial dividend of 55
cts per share for the quarter ending March 31, 1987.
The dividend is payable May 20 to shareholders of record
April 20, 1987, it said.
The dividend includes five cts attributable to the period
between Dec 23 and 31, 1986, and 50 cts attributable to the
first quarter of 1987, ending March 31, 1987.
|
test/16569 | test/16569 |@title utah:1 power:1 light:1 co:1 utp:1 1st:1 qtr:1 net:1 |@word shr:2 46:1 ct:2 vs:8 58:1 net:3 29:1 0:2 mln:12 37:2 9:3 revs:2 251:1 2:4 254:1 avg:2 shrs:2 57:2 56:1 12:2 mth:2 1:2 36:1 dlrs:2 93:1 7:2 152:1 3:2 981:1 03:1 billion:1 55:1 note:1 1987:1 include:1 43:1 dlr:1 charge:1 due:1 december:1 1986:1 provision:1 coal:1 mining:1 operation:1 refund:1 | UTAH POWER AND LIGHT CO <UTP> 1ST QTR NET
Shr 46 cts vs 58 cts
Net 29.0 mln vs 37.9 mln
Revs 251.2 mln vs 254.2 mln
Avg shrs 57.9 mln vs 56.0 mln
12 mths
Shr 1.36 dlrs vs 2.37 dlrs
Net 93.7 mln vs 152.3 mln
Revs 981.9 mln vs 1.03 billion
Avg shrs 57.2 mln vs 55.3 mln
NOTE: 1987 12 mth net includes 43.7 mln dlr charge due to
December 1986 provision for coal mining operations refund.
|
test/16570 | test/16570 |@title ericsson:1 ericy:1 buy:1 rest:1 spanish:1 unit:1 l:1 |@word ericsson:3 sweden:1 say:3 agree:1 principle:1 buy:1 49:1 pct:2 intelsa:3 spanish:2 unit:1 already:1 telefonica:2 spain:1 telecommunications:1 administration:1 term:1 agreement:1 disclose:1 control:1 40:1 telephone:1 switch:1 market:1 2:1 400:1 employee:1 annual:1 sale:1 800:1 mln:2 crown:1 117:1 dlrs:1 purchase:1 affect:1 close:1 work:1 relationship:1 | ERICSSON <ERICY.O> TO BUY REST OF SPANISH UNIT
L.M. Ericsson of Sweden said it agreed
in principle to buy the 49 pct of Intelsa, its Spanish unit,
that it does not already own from <Telefonica>, Spain's
telecommunications administration.
Terms of the agreement were not disclosed.
Ericsson said Intelsa, which controls about 40 pct of the
Spanish telephone switch market, has 2,400 employees and annual
sales of 800 mln crowns, or 117 mln dlrs.
'The purchase will not affect the close working
relationship between Telefonica and Intelsa,' Ericsson said.
|
test/16574 | test/16574 |@title computrac:1 llb:1 see:1 low:1 first:1 quarter:1 net:1 |@word computrac:2 inc:1 say:3 expect:1 first:2 quarter:2 earning:1 50:2 60:1 pct:3 year:4 ago:2 last:1 end:1 april:1 30:2 earn:1 379:1 000:1 dlrs:2 revenue:2 2:1 4:1 mln:1 company:1 sale:3 commitment:2 hand:2 system:1 recognize:1 shipment:1 40:1 ship:1 period:1 outlook:1 remain:1 unchanged:1 | COMPUTRAC <LLB> SEES LOWER FIRST QUARTER NET
CompuTrac Inc said it expects first
quarter earnings to be down 50 to 60 pct from a year ago.
In last year's first quarter ended April 30, CompuTrac
earned 379,000 dlrs on revenues of 2.4 mln dlrs.
The company said sales commitments on hand are about 50 pct
above those of a year ago, but system sales revenues are
recognized at shipment, and only 30 to 40 pct of sales
commitments in hand will ship during the period.
It said its outlook for the year remains unchanged.
|
test/16577 | test/16577 |@title nova:1 nva:1 plan:1 dome:1 dmp:1 bid:1 |@word nova:4 alberta:1 corp:1 chief:1 executive:1 robert:1 blair:6 express:1 hope:1 dome:8 petroleum:1 ltd:3 dmp:1 remain:2 canadian:6 ownership:1 add:2 company:2 plan:2 bid:4 debt:1 trouble:1 tell:1 reporter:2 speech:1 business:1 group:1 although:1 stress:1 57:1 pct:1 husky:1 oil:1 hyo:1 interested:2 extensive:1 western:2 energy:2 holding:1 sometimes:1 different:1 make:1 say:4 transcanada:2 pipelines:1 trp:1 yesterday:1 4:1 30:1 billion:1 dlrs:3 discontinue:1 talk:2 consider:1 proposal:1 another:2 also:1 possible:2 buyer:1 rumor:1 offshore:1 ask:2 hand:2 reply:1 yes:1 think:2 still:2 need:1 build:1 much:1 position:1 industry:3 would:2 good:1 end:1 management:1 know:1 bidder:1 move:1 put:1 financial:1 house:1 order:1 remove:1 one:1 general:1 problem:1 attitude:1 hang:1 however:1 face:1 couple:1 tough:2 additional:1 year:3 1987:1 prospect:1 predict:1 net:2 profit:2 rise:1 150:1 mln:2 last:1 100:1 2:1 due:1 improve:1 product:1 price:1 continue:1 cost:1 cutting:1 | NOVA <NVA.A.TO> NOT PLANNING DOME <DMP> BID
Nova, an Alberta Corp, chief executive
Robert Blair expressed hope that Dome Petroleum Ltd <DMP>
remains under Canadian ownership, but added that his company
plans no bid of its own for debt-troubled Dome.
'We've no plan to bid,' Blair told reporters after a speech
to a business group, although he stressed that Nova and 57
pct-owned Husky Oil Ltd <HYO> were interested in Dome's
extensive Western Canadian energy holdings.
'But being interested can sometimes be different from
making a bid,' Blair said.
TransCanada PipeLines Ltd <TRP> yesterday bid 4.30 billion
dlrs for Dome, but Dome said it was discontinuing talks with
TransCanada and was considering a proposal from another company
and was also talking with another possible buyer, both rumored
to be offshore.
Asked by reporters if Dome should remain in Canadian hands,
Blair replied, 'Yes. I think that we still need to be building
as much Canadian position in this industry as we can and I
think it would be best if Dome ends up in the hands of Canadian
management.'
He said he did not know who other possible bidders were.
Blair said that any move to put Dome's financial house in
order 'will remove one of the general problems of attitude that
have hung over Western Canadian industry.'
He added, however, that the energy industry still faced 'a
couple of tough, tough additional years.'
Asked about Nova's 1987 prospects, Blair predicted that
Nova's net profit would rise this year to more than 150 mln
dlrs from last year's net profit of 100.2 mln dlrs due to
improved product prices and continued cost-cutting.
|
test/16581 | test/16581 |@title exxon:1 xon:1 extend:1 mid:1 grade:1 unleaded:1 marketing:1 |@word exxon:2 co:1 u:2 say:2 expand:1 marketing:1 mid:1 grade:1 unleaded:2 gasoline:1 along:1 east:1 coast:1 corp:1 subsidiary:1 changeover:1 89:1 octane:1 fuel:1 begin:1 late:2 month:1 early:1 next:1 major:1 market:1 virginia:1 maryland:1 florida:1 district:1 columbia:1 product:1 introduce:1 new:3 york:1 jersey:1 delaware:1 connecticut:1 rhode:1 island:1 massachusetts:1 hampshire:1 philadelphia:1 area:1 last:1 year:1 | EXXON <XON> EXTENDS MID-GRADE UNLEADED MARKETING
Exxon Co U.S.A. said it is expanding
marketing of its mid-grade unleaded gasoline along the U.S.
East Coast.
The Exxon Corp subsidiary said the changeover to the
89-octane unleaded fuel will begin late this month and early
next in major markets in Virginia, Maryland, Florida, and the
District of Columbia. The product was introduced in New York,
New Jersey, Delaware, Connecticut, Rhode Island, Massachusetts,
New Hampshire and the Philadelphia area late last year.
|
test/16583 | test/16583 |@title first:1 montauk:1 security:1 merger:1 deal:1 |@word first:1 montauk:1 securities:1 corp:1 say:2 reach:1 preliminary:1 merger:1 agreement:1 mcc:2 presidential:1 inc:1 company:2 shareholder:1 would:2 25:1 pct:1 stake:1 combine:1 receive:1 cash:1 distribution:1 35:1 ct:1 per:1 share:1 | <FIRST MONTAUK SECURITIES> IN MERGER DEAL
First Montauk Securities Corp
said it has reached a preliminary merger agreement with
MCC-Presidential Inc.
The company said MCC shareholders would have a 25 pct stake
in the combined company and would receive a cash distribution
of about 35 cts per share.
|
test/16584 | test/16584 |@title barnett:1 bank:1 florida:1 inc:1 bbf:1 1st:1 qtr:1 net:1 |@word shr:1 82:1 ct:2 vs:3 72:1 net:1 44:1 6:1 mln:4 38:1 9:1 avg:1 shrs:1 54:1 3:1 52:1 8:1 | BARNETT BANKS OF FLORIDA INC <BBF> 1ST QTR NET
Shr 82 cts vs 72 cts
Net 44.6 mln vs 38.9 mln
Avg shrs 54.3 mln vs 52.8 mln
|
test/16585 | test/16585 |@title golden:1 west:1 financial:1 corp:1 gdw:1 1st:1 qtr:1 net:1 |@word shr:1 1:2 35:1 dlrs:2 vs:5 53:1 net:1 42:1 137:1 000:2 47:1 792:1 loan:1 10:1 26:1 billion:6 9:1 97:1 deposit:1 7:2 65:1 63:1 asset:1 11:1 84:1 12:1 00:1 note:1 current:1 qtr:1 figure:1 include:1 3:2 mln:1 dlr:1 charge:1 result:1 penalty:1 prepayment:1 fhlb:1 borrowing:1 | GOLDEN WEST FINANCIAL CORP <GDW> 1ST QTR NET
Shr 1.35 dlrs vs 1.53 dlrs
Net 42,137,000 vs 47,792,000
Loans 10.26 billion vs 9.97 billion
Deposits 7.65 billion vs 7.63 billion
Assets 11.84 billion vs 12.00 billion
Note: Current qtr figures include 3.3 mln dlr charge
resulting from penalties for prepayment of FHLB borrowings.
|
test/16587 | test/16587 |@title honeywell:1 inc:1 hon:1 1st:1 qtr:1 oper:1 net:1 |@word oper:2 shr:1 96:1 ct:3 vs:3 79:1 net:2 43:1 7:1 mln:3 36:1 4:1 sale:2 1:2 48:1 billion:2 15:1 note:1 1987:1 include:1 operation:2 sperry:1 aerospace:1 1986:1 operate:1 exclude:1 charge:1 discontinue:1 10:1 2:1 dlrs:1 22:1 share:1 | HONEYWELL INC <HON> 1ST QTR OPER NET
Oper shr 96 cts vs 79 cts
Oper net 43.7 mln vs 36.4 mln
Sales 1.48 billion vs 1.15 billion
NOTE: 1987 sales includes operations of Sperry Aerospace.
1986 operating net excludes a charge from discontinued
operations of 10.2 mln dlrs or 22 cts a share.
|
test/16588 | test/16588 |@title wall:1 street:1 stock:1 brown:1 ferris:1 bfi:1 |@word environmental:1 protection:1 agency:1 five:1 10:2 mln:2 dlr:1 suit:5 brown:6 ferris:3 industries:1 inc:2 bfi:2 unit:1 cecos:1 international:1 cause:1 stock:2 drop:1 today:2 analyst:3 say:8 fall:1 2:1 1:2 4:1 56:1 8:1 far:1 news:1 release:1 morning:1 potentially:1 big:1 investor:3 feel:1 good:1 go:1 regulator:1 kenneth:1 ch:1 u:1 k:1 ai:1 leung:2 smith:1 barney:1 actually:1 sell:1 share:1 cloud:1 industry:1 threat:1 epa:1 get:1 tough:1 waste:2 management:2 company:2 willard:1 senior:1 first:1 albany:1 corp:1 kind:1 exposure:1 regulatory:1 settle:1 dlrs:1 would:2 impact:2 earning:2 however:1 adequate:1 cash:1 reserve:1 cover:1 fine:1 whatsoever:1 | WALL STREET STOCKS/BROWNING FERRIS <BFI>
The Environmental Protection Agency's
five to 10 mln dlr suit against a Browning-Ferris Industries
Inc <BFI> unit, CECOS International Inc, caused the stock to
drop today, analysts said.
The stock has fallen 2-1/4 to 56-1/8 so far today, after
the news about the suit was released this morning.
'It's potentially a big suit and investors feel that its
not good to go against regulators,' Kenneth Ch'u-K'ai Leung, a
Smith Barney analyst said.
'What investors are actually saying by selling off some BFI
shares is the cloud over this industry is the threat that the
EPA will get tough on waste management companies,' Willard
Brown, senior analyst for First Albany Corp.
'Investors are saying to themselves that waste management
companies have that kind of exposure to regulatory suits,'
Brown said. Brown said if the suit were settled for 10 mln dlrs
it would have an impact on Browning Ferris earnings.
Leung said, however, that Browning-Ferris has adequate cash
reserves to cover the fine. 'It would have no impact on
earnings whatsoever,' he said.
|
test/16589 | test/16589 |@title homestake:1 hm:1 mulls:1 buy:1 ore:1 reserve:1 |@word homestake:4 mining:1 co:1 consider:2 acquire:3 gold:6 ore:1 reserve:4 addition:2 company:3 exploration:5 effort:1 chief:1 executive:1 harry:1 conger:7 tell:1 reuters:1 interview:1 look:1 option:1 rather:1 say:8 add:1 move:1 acquisition:3 represent:2 change:2 policy:1 current:1 cash:1 position:1 120:1 mln:4 dlrs:5 would:1 available:1 two:1 line:1 credit:1 total:1 150:1 draw:1 today:1 could:1 use:1 finance:1 anticipate:1 1987:6 budget:1 1986:3 spending:3 27:1 3:1 precious:1 metal:1 may:1 slightly:2 high:1 last:3 year:4 17:1 7:1 oil:1 gas:1 less:1 9:1 6:1 pct:3 see:1 production:4 669:1 594:1 ounce:4 however:1 first:2 quarter:2 mclaughlin:1 10:2 low:1 45:1 400:2 due:2 start:1 problem:1 believe:1 price:3 hold:1 u:1 dlr:1 level:1 rest:1 earning:2 base:1 average:1 market:1 368:1 three:1 12:1 ct:1 share:1 impact:1 decline:1 give:1 specific:1 forecast:1 release:1 day:1 full:1 result:1 | HOMESTAKE <HM> MULLS BUYING ORE RESERVES
Homestake Mining Co is considering
acquiring more gold ore reserves in addition to the company's
exploration efforts, chief executive Harry Conger told Reuters
in an interview.
'We are looking at more options to acquire more reserves
rather than just exploration,' Conger said adding, 'the move to
consider acquisitions represents a change in the company's
acquisitions policy.'
Conger said all of Homestake's current cash position of 120
mln dlrs would be available to acquire reserves. In addition,
Homestake has two lines of credit totaling 150 mln dlrs which
have not been drawn on today and could be used to finance an
acquisition, he said.
Conger said he anticipates 1987 exploration budget will be
about the same as 1986 spending of 27.3 mln dlrs. Conger said
exploration for precious metals may be slightly higher than
last year's spending of 17.7 mln dlrs while oil and gas
exploration spending will be slightly less than last year's 9.6
pct.
Conger said he sees Homestake's 1987 gold production about
the same as 1986 gold production of 669,594 ounces.
However, 1987 first quarter production from its McLaughlin
reserve will be about 10 pct lower than last year's 45,400
ounces due to start-up production problems.
He said he believes gold prices will hold above the 400
U.S. dlr an ounce level for the rest of 1987.
IN 1986, company earnings were based an average market
price for gold of 368 dlrs an ounce.
Conger said a three pct change in gold prices represents a
12 cts a share impact on earnings but he declined to give a
specific forecast for 1987's first quarter, due to be released
in 10 days, or for full year 1987 results.
|
test/16590 | test/16590 |@title chronar:1 corp:1 crnr:1 year:1 loss:1 |@word shr:1 loss:4 95:1 ct:2 vs:4 nine:1 net:2 6:2 882:1 497:1 513:1 153:1 revs:1 11:1 3:1 mln:2 10:1 0:1 avg:1 shrs:1 7:1 251:1 000:5 017:1 note:1 1986:1 include:1 1:3 600:1 dlrs:2 increase:1 provision:2 uncollectible:1 receivables:1 affiliate:1 lower:1 recoverable:1 value:1 inventory:1 writeoff:1 capitalize:1 cost:1 discontinued:1 project:1 700:1 dlr:1 resolution:1 shareholder:1 class:1 action:1 suit:1 gain:1 300:1 repurchase:1 manufacture:1 equipment:1 | CHRONAR CORP <CRNR.O> YEAR LOSS
Shr loss 95 cts vs loss nine cts
Net loss 6,882,497 vs loss 513,153
Revs 11.3 mln vs 10.0 mln
Avg shrs 7,251,000 vs 6,017,000
NOTE: 1986 net includes 1,600,000 dlrs in increased
provisions for uncollectible receivables from affiliates, lower
recoverable value of inventories and writeoffs of capitalized
costs on discontinued projects, 1,700,000 dlr provision for
resolution of shareholder class action suit and gain 1,300,000
dlrs from repurchase of manufacturing equipment.
|
test/16591 | test/16591 |@title empire:1 empa:1 buy:1 sobey:1 sysa:1 stock:1 |@word empire:3 co:1 ltd:2 say:1 acquire:1 share:7 sobey:2 stores:1 already:1 arrangement:1 approve:1 director:1 company:1 holder:2 class:4 non:3 voting:3 b:1 common:1 may:2 elect:1 receive:1 either:1 1:2 6:1 one:2 half:1 eight:1 pct:1 redeemable:1 retractable:2 preferred:2 par:1 value:1 25:1 dlrs:1 option:1 1994:1 | EMPIRE <EMPA.TO> TO BUY SOBEYS <SYSA.TO> STOCK
Empire Co Ltd said it will acquire all
shares of Sobeys Stores Ltd it does not already own under an
arrangement approved by directors of both companies.
Holders of Sobeys class A non-voting shares and class B
common shares may elect to receive either 1.6 non-voting class
A Empire shares or one non-voting class A Empire share and
one-half of an eight pct redeemable retractable preferred
share. The preferred share has a par value of 25 dlrs and is
retractable at the holder's option on May 1, 1994.
|
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