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test/15023 | test/15023 |@title citytrust:1 bancorp:1 inc:1 citr:1 1st:1 qtr:1 net:1 |@word shr:1 1:2 40:1 dlrs:2 vs:3 16:1 net:1 5:1 776:1 000:2 4:2 429:1 avg:1 shrs:1 132:1 828:1 3:1 834:1 117:1 | CITYTRUST BANCORP INC <CITR> 1ST QTR NET
Shr 1.40 dlrs vs 1.16 dlrs
Net 5,776,000 vs 4,429,000
Avg shrs 4,132,828 vs 3,834,117
|
test/15024 | test/15024 |@title southmark:1 sm:1 acquire:1 28:1 nursing:1 home:1 |@word southmark:1 corp:1 say:3 acquire:2 28:1 long:1 term:1 care:2 facility:3 contain:2 approximately:2 70:1 mln:1 dlrs:1 cash:1 2:1 500:1 bed:1 seven:1 western:1 state:1 buy:1 bybee:1 associates:1 salem:1 ore:1 acquistion:1 bring:1 57:1 health:1 last:1 three:1 month:1 company:1 | SOUTHMARK <SM> ACQUIRES 28 NURSING HOMES
Southmark Corp said it acquired 28
long-term care facilities containing for approximately 70 mln
dlrs in cash.
It said the facilities, which contain approximately 2,500
beds in seven western states, were bought from Don Bybee and
Associates, of Salem,Ore.
The acquistion brings to 57 health care facilities acquired
in the last three months, the company said.
|
test/15026 | test/15026 |@title j:1 p:1 morgan:1 co:1 inc:1 jpm:1 1st:1 qtr:1 net:1 |@word shr:1 1:5 22:3 dlrs:5 vs:8 28:1 net:2 226:1 4:1 mln:5 233:1 9:1 asset:2 80:1 45:2 billion:7 70:2 23:1 loan:3 35:4 16:1 99:1 deposit:1 39:1 68:1 return:2 14:1 pct:4 common:1 equity:1 18:1 20:2 08:1 note:1 1987:1 qtr:1 reduce:1 3:1 brazil:1 place:1 non:1 accrual:1 loss:1 provision:1 year:1 earlier:1 | J.P. MORGAN AND CO INC <JPM> 1ST QTR NET
shr 1.22 dlrs vs 1.28 dlrs
net 226.4 mln vs 233.9 mln
assets 80.45 billion vs 70.23 billion
loans 35.16 billion vs 35.99 billion
deposits 45.22 billion vs 39.68 billion
return on assets 1.14 pct vs 1.35 pct
return on common equity 18.20 pct vs 22.08 pct
NOTE: 1987 qtr net was reduced by 20 mln dlrs because 1.3
billion dlrs of loans to Brazil were placed on non-accrual.
loan loss provision 35 mln dlrs vs 70 mln year earlier.
|
test/15027 | test/15027 |@title firstbanc:1 corp:1 ohio:1 fboh:1 1st:1 qtr:1 net:1 |@word shr:1 74:1 ct:2 vs:2 67:1 net:1 8:1 067:1 000:2 7:1 317:1 | FIRSTBANC CORP OF OHIO <FBOH> 1ST QTR NET
Shr 74 cts vs 67 cts
Net 8,067,000 vs 7,317,000
|
test/15028 | test/15028 |@title mayfair:1 super:1 markets:1 inc:1 myfra:1 2nd:1 qtr:1 net:1 |@word qtr:2 end:1 feb:1 28:1 shr:4 class:4 61:1 ct:6 vs:8 48:1 b:2 59:1 46:1 net:2 2:1 358:1 000:8 1:3 876:1 revs:1 122:1 508:1 105:1 871:1 six:2 mth:2 15:1 dlrs:2 86:1 13:1 84:1 4:1 485:1 3:1 378:1 rev:1 242:1 453:1 210:1 117:1 note:1 prior:1 figure:1 reflect:1 two:1 one:1 stock:1 split:1 august:1 1986:1 | MAYFAIR SUPER MARKETS INC <MYFRA> 2ND QTR NET
Qtr ends Feb 28
Shr Class A 61 cts vs 48 cts
Shr Class B 59 cts vs 46 cts
Net 2,358,000 vs 1,876,000
Revs 122,508,000 vs 105,871,000
Six mths
Shr Class A 1.15 dlrs vs 86 cts
Shr Class B 1.13 dlrs vs 84 cts
Net 4,485,000 vs 3,378,000
Revs 242,453,000 vs 210,117,000
NOTE: qtr and six mths prior figures reflect two-for-one
stock split in August 1986.
|
test/15029 | test/15029 |@title hanover:1 insurance:1 hin:1 get:1 split:1 approval:1 |@word hanover:3 insurance:1 co:1 say:3 stockholder:2 approve:1 two:1 one:3 stock:3 split:3 result:1 increase:1 number:1 authorized:1 share:1 capital:1 10:2 4:1 mln:2 par:2 value:2 dlr:2 20:1 9:1 also:1 payable:1 april:2 30:1 record:1 | HANOVER INSURANCE <HINS> GET SPLIT APPROVAL
Hanover Insurance Co said its
stockholders approved a two-for-one stock split.
As a result of the split, Hanover said it increases the
number of authorized shares of capital stock from 10.4 mln,
having a par value of one dlr, to 20.9 mln, also having a par
value of one dlr.
The stock split is payable April 30 to stockholders of
record April 10, Hanover said.
|
test/15031 | test/15031 |@title national:1 guardian:1 natg:1 make:1 acquisition:1 |@word national:2 guardian:1 corp:1 say:3 acquire:2 number:1 security:7 service:7 company:3 recently:1 aggregate:2 revenue:1 3:1 500:1 000:2 dlrs:2 cost:1 2:1 700:1 guard:2 c:3 gaurd:1 paramus:1 n:4 j:4 cartel:1 consultants:1 inc:4 services:2 division:1 america:1 wayne:1 capital:1 investigation:1 protective:1 agency:2 hackensack:1 meyer:1 detective:1 park:1 buy:1 alarm:2 operation:1 certify:1 key:1 west:1 fla:1 custom:1 myrtle:1 beach:1 e:1 group:1 houston:1 louisville:1 kent:1 nashville:1 tenn:1 office:1 wells:1 fargo:1 | NATIONAL GUARDIAN <NATG> MAKES ACQUISITIONS
National Guardian Corp said it
has acquired a number of security services companies recently,
with aggregate revenues of about 3,500,000 dlrs, for an
aggregate cost of about 2,700,000 dlrs.
It said it acquired guard service companies C.S.C. Security
Gaurd Service of Paramus, N.J., from Cartel Security
Consultants Inc, the Guard Services Division of Security
Services of America of Wayne, N.J., Capital Investigations and
Protective Agency of Hackensack, N.J., and Meyer Detective
Agency Inc of National Park, N.J.
The company said it bought alarm service operations
Certified Security Services Inc of Key West, Fla., Custom
Security Services of Myrtle Beach, S.C., A-T-E Security Group
Inc of Houston and the Louisville, Kent and Nashville, Tenn,
offices of Wells Fargo Alarm Services.
|
test/15032 | test/15032 |@title universal:1 medical:1 umbiz:1 distribution:1 set:1 |@word qtly:1 distribution:1 7:2 1:3 2:4 ct:3 vs:1 prior:1 exclude:1 special:1 pay:1 april:2 30:1 record:1 22:1 note:1 full:1 name:1 universal:1 medical:1 building:1 l:1 p:1 | UNIVERSAL MEDICAL <UMBIZ> DISTRIBUTION SET
Qtly distribution 7-1/2 cts vs 7-1/2 cts prior (excluding
2-1/2 cts special)
Pay April 30
Record April 22
NOTE: Full name is Universal Medical Buildings L.P.
|
test/15033 | test/15033 |@title zambia:1 plan:1 retail:1 maize:1 price:1 hike:1 |@word zambian:2 government:4 immediate:1 plan:1 follow:2 last:2 week:1 increase:4 producer:2 price:6 maize:3 hike:1 retail:2 meal:3 official:1 rule:1 party:1 say:2 december:1 120:1 pct:1 consumer:1 refined:1 staple:1 lead:1 food:1 riot:1 least:1 15:1 people:2 die:1 president:1 kenneth:1 kaunda:1 later:1 revoke:1 pressure:1 international:1 monetary:1 fund:1 imf:3 reduce:1 subsidy:3 bill:1 however:1 rise:1 6:1 10:1 dlrs:2 8:1 67:1 per:1 90:1 kg:1 bag:1 accompany:1 spend:1 practice:1 discourage:1 way:1 raise:1 level:1 would:1 choose:1 demand:1 ministry:1 agriculture:1 economist:1 | ZAMBIA DOES NOT PLAN RETAIL MAIZE PRICE HIKE
The Zambian government has no immediate
plans to follow last week's increase in the producer price of
maize with a hike in the retail price of maize meal, an
official of the ruling party said.
Last December, a 120 pct increase in the consumer price for
refined maize meal, a Zambian staple, led to food riots in
which at least 15 people died.
That price increase, which President Kenneth Kaunda later
revoked, followed pressure by the International Monetary Fund
(IMF) to reduce the government's subsidy bill.
However, if the producer price rise, from 6.10 dlrs to 8.67
dlrs per 90-kg bag, is not accompanied by a retail price
increase, the government will have to spend more on subsidies,
a practice discouraged by the IMF.
'There is no way out but to raise the subsidy levels of
meal. It (the government) would have to choose between the
demands of the IMF and those of the people,' a Ministry of
Agriculture economist said.
|
test/15037 | test/15037 |@title wedgestone:1 realty:1 wdg:1 acquisition:1 approve:1 |@word wedgestone:2 realty:1 investor:1 trust:1 say:2 shareholkder:1 approve:1 acquisition:1 advisor:1 advisory:1 corp:1 600:1 000:1 share:1 completion:1 expect:1 take:1 place:1 april:1 10:1 | WEDGESTONE REALTY <WDG> ACQUISITION APPROVED
Wedgestone Realty Investors Trust
said shareholkders have approved the acquisition of its
advisor, Wedgestone Advisory Corp, for 600,000 shares.
It said completion is expected to take place April 10.
|
test/15038 | test/15038 |@title sun:2 cut:1 heating:1 oil:1 barge:1 price:1 |@word sun:3 co:2 refining:1 marketing:1 subsidiary:1 say:2 decrease:1 price:3 charge:1 contract:2 barge:2 customer:1 heat:1 oil:2 ny:1 harbor:1 0:2 50:3 cent:2 gallon:3 effective:1 today:1 reduction:1 bring:1 heating:1 ct:1 company:1 | SUN <SUN> CUTS HEATING OIL BARGE PRICE
Sun Co's Sun Refining and Marketing Co
subsidiary said it is decreasing the price it charges contract
barge customers for heating oil in ny harbor by 0.50 cent a
gallon, effective today.
The 0.50 cent a gallon price reduction brings Sun's heating
oil contract barge price to 50 cts a gallon, the company said.
|
test/15043 | test/15043 |@title argentine:1 coarse:1 grain:1 loss:1 fear:1 |@word argentine:1 grain:2 producer:4 adjust:3 yield:3 estimate:8 1986:1 87:1 coarse:1 crop:11 downward:1 week:6 yesterday:1 heavy:1 rain:3 end:1 march:1 beginning:1 april:3 trade:1 source:3 say:2 sunflow:3 maize:4 sorghum:3 production:3 reduce:1 despite:1 later:3 warm:1 dry:2 weather:1 allow:1 return:1 harvesting:4 area:9 however:2 shower:1 fall:1 intermittently:1 last:9 weekend:1 fear:3 another:1 spell:1 prolonged:1 intense:2 could:2 cause:1 damage:2 already:1 badly:1 hit:1 season:8 middle:1 reach:3 average:1 27:1 millimetre:1 part:1 buenos:4 aire:4 province:1 83:1 mm:1 cordoba:4 41:1 santa:4 fe:4 50:1 entre:1 rios:1 misiones:1 95:1 corriente:1 eight:1 chaco:2 35:1 formosa:1 rainfall:1 period:1 la:4 pampa:4 continue:1 damp:1 condition:1 produce:1 rotting:1 lead:1 still:1 low:1 include:1 soybean:4 land:1 begin:2 advance:1 considerably:1 36:3 40:2 pct:14 sow:7 case:1 deterioration:1 evident:1 harvest:3 material:1 force:1 per:1 hectare:6 sunflowerseed:1 forecast:4 2:14 1:7 mln:34 3:15 tonne:7 4:7 43:1 9:9 48:1 8:9 1985:4 86:4 record:5 sunflower:1 two:2 29:2 14:1 also:1 near:1 completion:1 southern:1 5:6 6:3 previously:1 22:1 23:4 12:3 private:2 21:1 25:2 official:2 figure:2 58:1 78:1 seven:1 85:1 start:1 mid:1 total:2 sown:3 30:1 10:2 15:1 45:1 new:1 compare:1 three:1 remain:1 7:7 high:1 13:1 34:1 show:1 excessive:1 moisture:1 may:2 discover:1 experimental:1 carry:1 make:1 one:1 detail:1 available:1 preparation:1 field:1 1987:1 88:1 wheat:1 august:1 september:1 far:1 previous:1 year:1 | FURTHER ARGENTINE COARSE GRAIN LOSSES FEARED
Argentine grain producers adjusted
their yield estimates for the 1986/87 coarse grain crop
downward in the week to yesterday after the heavy rains at the
end of March and beginning of April, trade sources said.
They said sunflower, maize and sorghum production estimates
had been reduced despite some later warm, dry weather, which
has allowed a return to harvesting in some areas.
However, as showers fell intermittently after last weekend,
producers feared another spell of prolonged and intense rain
could cause more damage to crops already badly hit this season.
Rains in the middle of last week reached an average of 27
millimetres in parts of Buenos Aires province, 83 mm in
Cordoba, 41 in Santa Fe, 50 in Entre Rios and Misiones, 95 in
Corrientes, eight in Chaco and 35 in Formosa.
There was no rainfall in the same period in La Pampa.
Producers feared continued damp conditions could produce
rotting and lead to still lower yield estimates for all the
crops, including soybean.
However, as the lands began drying later in the week
harvesting advanced considerably, reaching between 36 and 40
pct of the area sown in the case of sunflower.
Deterioration of the sunflower crop evident in harvested
material in Cordoba, La Pampa and Buenos Aires forced yield
estimates per hectare to be adjusted down again.
The season's sunflowerseed production is now forecast at
2.1 mln to 2.3 mln tonnes, against 2.2 mln to 2.4 mln forecast
last week and down 43.9 to 48.8 pct on the 1985/86 record of
4.1 mln.
Area sown to sunflowers was two to 2.2 mln hectares, 29.9
to 36.3 pct below the record 3.14 mln hectares last season.
Maize harvesting has also reached 36 to 40 pct of the area
sown. It is near completion in Cordoba and Santa Fe and will
begin in La Pampa and southern Buenos Aires later in April.
Production estimates for maize were down from last week at
9.5 mln to 9.8 mln tonnes, against 9.6 mln to 9.9 mln estimated
previously.
This is 22.2 to 23.4 pct below the 12.4 mln to 12.6 mln
tonnes estimated by private sources for the 1985/86 crop and
21.9 to 25.8 pct down on the official figure of 12.8 mln
tonnes.
Maize was sown on 3.58 mln to 3.78 mln hectares, two to
seven pct down on last season's 3.85 mln.
Sorghum was harvested on 23 to 25 pct of the area sown in
Cordoba, Santa Fe and Chaco. Harvest will start in La Pampa and
Buenos Aires in mid-April.
The total area sown was 1.23 mln to 1.30 mln hectares, 10.3
to 15.2 pct down on the 1.45 mln sown last season.
The new forecast for the sorghum crop is 2.9 mln to 3.2 mln
tonnes compared with three mln to 3.3 mln forecast last week,
and is 23.8 to 29.3 pct down on last season's 4.1 mln to 4.2
mln tonne crop.
The soybean crop for this season was not adjusted,
remaining at a record 7.5 mln to 7.7 mln tonnes, up 4.2 to 5.5
pct on the 7.2 mln to 7.3 mln estimated by private sources for
1985/86 and 5.6 to 8.5 pct higher than the official figure of
7.1 mln.
The area sown to soybeans this season was a record 3.7 mln
to 3.8 mln hectares, 10.8 to 13.8 pct up on the record 3.34 mln
sown in 1985/86.
The soybean crop is showing excessive moisture in some
areas and producers fear they may discover more damage. Some
experimental harvesting was carried out in Santa Fe on areas
making up only about one pct of the total crop but details on
this were not available.
Preparation of the fields for the 1987/88 wheat crop, which
will be sown between May and August or September, has so far
not been as intense as in previous years.
|
test/15045 | test/15045 |@title dutch:1 adjusted:1 unemployment:1 rise:1 march:1 |@word dutch:1 seasonally:1 adjust:2 unemployment:2 rise:3 month:4 end:7 march:7 total:3 693:1 000:3 690:1 600:1 february:1 well:1 730:1 100:2 1986:3 social:1 affairs:1 ministry:2 figure:6 show:2 male:1 jobless:1 2:1 436:1 500:3 compare:1 470:1 700:1 year:3 earlier:3 woman:1 256:2 259:1 400:1 unadjusted:2 basis:1 fall:1 16:1 692:1 200:1 725:1 spokesman:1 say:2 small:1 usual:1 seasonal:1 decrease:1 time:1 particularly:1 cold:1 weather:1 delaying:1 work:1 building:1 industry:1 explain:1 increase:1 statistic:1 vacancy:1 available:1 1:1 900:1 26:1 300:1 28:1 763:1 | DUTCH ADJUSTED UNEMPLOYMENT RISES IN MARCH
Dutch seasonally adjusted unemployment
rose in the month to end-March to a total 693,000 from 690,600
at end-February, but was well down from 730,100 at end-March
1986, Social Affairs Ministry figures show.
The figure for male jobless rose by 2,000 in the month to
436,500 compared with 470,700 a year earlier. The figure for
women was 256,500 at end-March against 256,100 a month earlier
and 259,400 at end-March 1986.
On an unadjusted basis total unemployment fell by 16,500 in
the month to end-March to 692,200. In March 1986 the figure was
725,000.
A ministry spokesman said the unadjusted figures showed a
smaller than usual seasonal decrease for the time of year,
because of particularly cold weather delaying work in the
building industry. He said this explained the increase in the
adjusted statistics.
Total vacancies available rose by 1,900 to 26,300 at
end-March. A year earlier the figure was 28,763.
|
test/15046 | test/15046 |@title 8:2 apr:2 1987:2 11:2 06:4 39:2 |@word | 8-APR-1987 11:06:39.06
8-APR-1987 11:06:39.06
|
test/15048 | test/15048 |@title top:1 official:1 arrive:1 treasury:1 g:1 5:1 talk:1 |@word top:1 official:3 lead:1 industrial:1 nation:1 arrive:3 u:1 treasury:2 main:1 building:1 begin:2 meeting:3 group:3 five:1 see:2 reuter:1 correspondent:1 include:1 west:1 german:1 finance:4 minister:4 gerhard:1 stoltenberg:1 bundesbank:1 president:1 karl:1 otto:1 poehl:1 french:1 edouard:1 balladur:1 central:3 banker:1 jacques:1 de:1 larosiere:1 also:1 japanese:1 kiichi:1 miyazawa:1 japan:1 bank:2 governor:2 satoshi:1 sumita:1 british:1 chancellor:1 exchequer:1 robin:1 leigh:1 pemberton:1 immediate:1 sign:1 italian:3 canadian:1 monetary:1 source:2 say:2 fully:2 blow:1 seven:2 expect:2 around:1 3:1 p:2 local:1 time:1 1900:1 gmt:2 last:2 least:1 6:1 2200:1 communique:1 issue:1 act:1 giovanni:1 goria:2 meet:1 secretary:1 james:1 baker:2 night:1 talk:1 apparently:1 convince:1 decline:1 attend:1 february:1 paris:1 italy:1 would:1 participate:1 meaningful:1 decision:1 | TOP OFFICIALS ARRIVE AT TREASURY FOR G-5 TALKS
Top officials of leading industrial
nations arrived at the U.S. Treasury main building to begin a
meeting of the Group of Five.
Officials seen arriving by Reuter correspondents included
West German Finance Minister Gerhard Stoltenberg and Bundesbank
President Karl Otto Poehl, French Finance Minister Edouard
Balladur and his central banker Jacques de Larosiere.
Also seen arriving were Japanese Finance Minister Kiichi
Miyazawa and Japan's central bank governor Satoshi Sumita and
British Chancellor of the Exchequer and central bank governor
Robin Leigh Pemberton.
There was no immediate sign of Italian or Canadian
officials. Monetary sources have said a fully blown meeting of
the Group of Seven is expected to begin around 3 p.m. local
time (1900 gmt) and last at least until 6 p.m. (2200 gmt), when
a communique is expected to be issued.
Italian sources said Italian acting Finance Minister
Giovanni Goria met Treasury Secretary James Baker last night.
At those talks Baker apparently convinced Goria, who
declined to attend the February meeting of the Group of Seven
in Paris, that Italy would participate fully in any meaningful
decisions.
|
test/15049 | test/15049 |@title fed:1 expect:1 set:1 customer:1 repurchase:1 |@word federal:2 reserve:4 expect:2 intervene:1 government:1 security:1 market:1 supply:1 temporary:1 indirectly:1 via:2 customer:2 repurchase:1 agreement:1 economist:2 say:1 fed:1 execute:1 2:2 0:1 5:1 billion:1 dlrs:1 repos:1 offset:2 pressure:2 end:1 two:1 week:1 bank:1 maintenance:1 period:1 today:1 also:1 look:1 permanent:1 injection:1 seasonal:1 outright:1 purchase:1 bill:1 coupon:1 afternoon:1 fund:1 rate:1 open:1 6:2 3:1 8:1 pct:2 remain:1 level:1 yesterday:1 17:1 average:1 | FED EXPECTED TO SET CUSTOMER REPURCHASES
The Federal Reserve is expected to
intervene in the government securities market to supply
temporary reserves indirectly via customer repurchase
agreements, economists said.
Economists expect the Fed to execute 2.0-2.5 billion dlrs
of customer repos to offset pressures from the end of the
two-week bank reserve maintenance period today. Some also look
for a permanent reserve injection to offset seasonal pressures
via an outright purchase of bills or coupons this afternoon.
The Federal funds rate opened at 6-3/8 pct and remained at
that level, up from yesterday's 6.17 pct average.
|
test/15052 | test/15052 |@title reader:1 digest:1 association:1 sell:1 unit:1 |@word reader:2 digest:2 association:1 inc:1 say:3 sell:1 subsidiary:1 source:2 telecomputing:1 corp:1 venture:1 capital:1 firm:1 welsh:1 carson:1 anderson:1 stowe:1 purchase:2 price:1 disclose:1 80:1 pct:1 stake:1 1980:1 earn:1 unspecified:1 profit:1 14:1 mln:1 dlrs:1 revenue:1 1986:1 | READER'S DIGEST ASSOCIATION SELLS UNIT
<The Reader's Digest
Association Inc> said it sold its subsidiary, Source
Telecomputing Corp, to the venture capital firm of <Welsh,
Carson, Anderson and Stowe>.
The purchase price was not disclosed, Reader's Digest said.
It said it purchased an 80 pct stake in Source in 1980 and
earned an unspecified profit on 14 mln dlrs in revenues in
1986.
|
test/15053 | test/15053 |@title weis:1 markets:1 inc:1 wmk:1 1st:1 qtr:1 march:1 28:1 net:1 |@word shr:1 59:1 ct:2 vs:3 51:1 net:1 18:1 0:1 mln:4 15:1 6:2 revs:1 278:1 272:1 2:1 | WEIS MARKETS INC <WMK> 1ST QTR MARCH 28 NET
Shr 59 cts vs 51 cts
Net 18.0 mln vs 15.6 mln
Revs 278.6 mln vs 272.2 mln
|
test/15055 | test/15055 |@title continental:1 bank:1 initial:1 distribution:1 approve:1 |@word continental:4 bank:5 canada:2 say:3 shareholder:5 approve:1 capital:1 reorganization:1 allow:1 initial:5 payout:3 end:1 may:1 common:3 last:1 year:1 200:1 mln:1 canadian:2 dlr:1 sale:1 asset:1 lloyds:2 plc:1 distribution:4 would:2 take:1 form:1 stock:2 dividend:3 cumulative:1 redeemable:1 retractable:1 class:1 series:1 two:1 preferred:2 share:3 entitle:1 holder:1 monthly:1 float:1 rate:1 72:1 pct:1 prime:1 12:1 75:1 dlrs:3 retraction:1 subject:1 government:1 approval:1 reiterate:1 total:1 range:1 16:1 50:1 17:1 25:1 include:1 final:1 late:1 1988:1 early:1 1989:1 exist:1 complete:1 next:1 month:1 add:1 | CONTINENTAL BANK INITIAL DISTRIBUTION APPROVED
Continental Bank of Canada said
shareholders approved a capital reorganization to allow an
initial payout by the end of May to common shareholders from
last year's 200 mln Canadian dlr sale of most Continental
assets to <Lloyds Bank PLC>'s Lloyds Bank Canada.
The bank said the initial distribution would take the form
of a stock dividend of cumulative redeemable retractable class
A series two preferred shares entitling holders to monthly
floating rate dividends at 72 pct of prime and to 12.75 dlrs a
share on retraction.
Continental said the initial payout was subject to Canadian
government approval.
The bank reiterated that total distributions to common
shareholders would range from 16.50 dlrs a share to 17.25 dlrs
including the initial stock dividend and a final distribution
in late 1988 or early 1989.
The payout of existing preferred shareholders will be
completed just before next month's initial distribution to
common shareholders, Continental added.
|
test/15056 | test/15056 |@title atlas:1 consolidate:1 mining:1 development:1 acmb:1 |@word 4th:1 qtr:1 shr:2 loss:6 17:1 ct:3 vs:8 22:1 net:2 14:1 5:1 mln:8 18:3 0:1 revs:2 27:1 3:2 23:1 7:2 year:2 58:1 1:1 01:1 dlrs:1 48:1 84:1 2:1 111:1 141:1 9:1 note:1 atlas:1 consolidate:1 mining:1 development:1 corp:1 manila:1 translate:1 philippine:1 pesos:1 20:2 3489:1 peso:1 dollar:1 5571:1 quarter:1 2315:1 2743:1 | ATLAS CONSOLIDATED MINING AND DEVELOPMENT <ACMB>
4th qtr
Shr loss 17 cts vs loss 22 cts
Net loss 14.5 mln vs loss 18.0 mln
Revs 27.3 mln vs 23.7 mln
Year
Shr 58 cts vs 1.01 dlrs
Net loss 48.3 mln vs loss 84.2 mln
Revs 111.7 mln vs 141.9 mln
NOTE: Atlas Consolidated Mining and Development Corp of
Manila.
Translated from Philippine pesos at 20.3489 pesos to dollar
vs 18.5571 in quarter and 20.2315 vs 18.2743 in year.
|
test/15060 | test/15060 |@title sci:1 med:1 smls:1 board:1 agree:1 bristol:1 bmy:1 deal:1 |@word sci:3 med:3 life:1 systems:2 inc:2 say:3 director:1 approve:1 previously:1 propose:2 agreement:2 merger:1 bristol:3 myers:2 co:1 transaction:1 subject:1 completion:1 due:1 diligence:1 investigation:1 include:1 review:1 myer:1 patent:2 infringement:1 suit:2 serve:1 advanced:1 cardiovascular:1 march:1 31:1 1987:1 right:1 call:1 certain:1 circumstance:1 continue:1 believe:1 without:1 merit:1 | SCI-MED <SMLS> BOARD AGREES TO BRISTOL<BMY>DEAL
Sci-Med Life Systems Inc said
its directors approved a previously proposed agreement of
merger with Bristol-Myers Co.
The proposed transaction is subject to completion of a due
diligence investigation, including a review by Bristol-Myers of
a patent infringement suit served on Sci-Med by Advanced
Cardiovascular Systems Inc on March 31, 1987.
Bristol-Myers has the right to call off the agreement under
certain circumstances, it said.
Sci-Med said it continues to believe the patent suit is
without merit.
|
test/15061 | test/15061 |@title fidelcor:1 ficr:1 completes:1 sale:1 unit:1 |@word fidelcor:1 inc:1 say:1 complete:1 sale:1 industrial:2 valley:2 title:1 insurance:1 co:1 subsidiary:1 group:1 investor:1 include:1 unit:1 management:1 undisclosed:1 term:1 asset:1 37:1 6:1 mln:1 dlrs:1 acquire:1 last:1 year:1 along:1 ivb:1 financial:1 corp:1 | FIDELCOR <FICR> COMPLETES SALE OF UNIT
Fidelcor Inc said it has completed
the sale of its Industrial Valley Title Insurance Co subsidiary
to a group of investors including the unit's management for
undisclosed terms.
Industrial Valley has assets of about 37.6 mln dlrs and was
acquired last year along with IVB Financial Corp.
|
test/15062 | test/15062 |@title data:1 translation:1 inc:1 datx:1 1st:1 qtr:1 feb:1 28:1 net:1 |@word shr:1 18:1 ct:2 vs:4 13:1 net:1 575:1 000:6 379:1 sale:1 6:1 625:1 4:1 537:1 avg:1 shrs:1 3:1 173:1 2:1 977:1 | DATA TRANSLATION INC <DATX> 1ST QTR FEB 28 NET
Shr 18 cts vs 13 cts
Net 575,000 vs 379,000
Sales 6,625,000 vs 4,537,000
Avg shrs 3,173,000 vs 2,977,000
|
test/15063 | test/15063 |@title energy:1 u:1 petrochemical:1 industry:1 |@word cheap:2 oil:7 feedstock:2 weaken:2 u:8 dollar:3 plant:7 utilization:1 rate:2 approach:1 90:2 pct:7 propel:1 streamline:1 petrochemical:7 industry:10 record:2 profit:4 year:10 growth:2 expect:3 least:1 1990:1 major:3 company:4 executive:2 predict:2 bullish:1 outlook:1 chemical:25 manufacturing:3 industrywide:1 move:1 shed:1 unrelated:2 business:10 prompt:1 gaf:5 corp:3 privately:1 hold:1 cain:4 inc:4 firm:1 aggressively:1 seek:1 acquisition:2 ashland:1 ash:1 kentucky:1 base:2 refiner:1 marketer:1 also:3 shop:1 money:1 make:3 buy:3 see:1 poise:1 threshold:1 golden:1 period:1 say:11 paul:1 oreffice:3 chairman:3 giant:1 dow:4 co:2 add:3 capacity:3 around:1 world:1 whole:1 game:1 bring:3 new:1 product:5 improve:1 old:1 one:1 analyst:2 big:1 customer:1 automobile:1 manufacturer:3 home:1 builder:1 use:1 lot:1 paint:1 plastic:3 quantity:1 currently:1 operate:1 reflect:1 tight:1 supply:2 could:3 hike:1 price:4 30:1 40:1 john:2 dosher:4 manage:1 director:1 pace:2 consultants:1 houston:3 demand:4 styrene:1 push:1 margin:3 much:1 300:1 speak:1 meeting:1 engineer:1 would:3 easily:1 top:2 741:1 mln:3 dlrs:7 earn:2 last:4 good:1 history:1 1985:3 still:1 25:1 barrel:1 export:2 adversely:1 affect:1 strong:1 58:1 believe:2 entire:1 head:2 close:1 samuel:1 heyman:2 estimate:2 report:1 20:1 gain:1 1987:1 domestic:1 total:1 13:1 billion:3 54:1 leap:1 turn:2 fortune:1 sickly:1 combination:1 luck:1 planning:1 fall:1 dramatically:1 time:1 american:1 foreign:1 currency:1 help:2 boost:1 balance:1 gradual:1 market:3 absorption:1 extra:1 create:2 middle:1 eastern:1 producer:1 early:1 1980s:1 finally:1 virtually:1 embark:1 extensive:1 corporate:1 restructuring:2 program:1 mothball:1 inefficient:1 trim:1 payroll:1 eliminate:1 touch:1 flurry:1 friendly:1 hostile:1 takeover:1 attempt:2 unsuccessful:1 acquire:1 union:1 carbide:1 uk:1 recently:1 offer:1 three:3 borg:1 warner:1 bor:1 chicago:1 another:1 powerhouse:1 w:1 r:1 grace:1 gra:1 divest:1 retailing:1 restaurant:1 fertilizer:1 raise:1 cash:1 expert:1 worry:1 may:2 trouble:1 continue:2 back:1 staple:1 commodity:5 ethylene:1 favor:1 profitable:2 specialty:3 custom:1 design:1 small:1 group:2 buyer:1 like:1 dupont:2 dd:1 monsanto:1 mtc:1 spend:2 past:2 two:1 try:1 get:2 reaction:1 badly:1 deteriorate:1 think:1 eventually:1 kill:1 niche:1 share:1 concern:1 challenge:1 keep:1 carry:1 away:1 repeat:1 mistake:1 caution:1 shift:1 ill:1 advise:1 stay:1 special:1 long:2 month:1 sterling:1 investment:1 banking:1 generate:1 700:1 annual:1 sale:1 buck:1 trend:1 gordon:1 previously:1 lead:1 leveraged:1 buyout:1 conoco:1 1:2 since:1 january:1 seven:1 along:1 texas:1 gulf:1 coast:1 produce:1 basic:1 building:1 block:1 kind:1 never:1 glamorous:1 high:1 grow:1 annually:1 garo:1 armen:1 dean:1 witter:1 reynolds:1 maker:1 benefit:1 increase:1 become:1 competitive:1 aluminum:1 wood:1 steel:1 arman:1 upturn:1 four:1 five:1 provide:1 economy:1 modest:1 | ENERGY/U.S. PETROCHEMICAL INDUSTRY
Cheap oil feedstocks, the weakened U.S.
dollar and a plant utilization rate approaching 90 pct will
propel the streamlined U.S. petrochemical industry to record
profits this year, with growth expected through at least 1990,
major company executives predicted.
This bullish outlook for chemical manufacturing and an
industrywide move to shed unrelated businesses has prompted GAF
Corp <GAF>, privately-held Cain Chemical Inc, and other firms
to aggressively seek acquisitions of petrochemical plants.
Oil companies such as Ashland Oil Inc <ASH>, the
Kentucky-based oil refiner and marketer, are also shopping for
money-making petrochemical businesses to buy.
'I see us poised at the threshold of a golden period,' said
Paul Oreffice, chairman of giant Dow Chemical Co <DOW>, adding,
'There's no major plant capacity being added around the world
now. The whole game is bringing out new products and improving
the old ones.'
Analysts say the chemical industry's biggest customers,
automobile manufacturers and home builders that use a lot of
paints and plastics, are expected to buy quantities this year.
U.S. petrochemical plants are currently operating at about
90 pct capacity, reflecting tighter supply that could hike
product prices by 30 to 40 pct this year, said John Dosher,
managing director of Pace Consultants Inc of Houston. Demand
for some products such as styrene could push profit margins up
by as much as 300 pct, he said.
Oreffice, speaking at a meeting of chemical engineers in
Houston, said Dow would easily top the 741 mln dlrs it earned
last year and predicted it would have the best year in its
history.
In 1985, when oil prices were still above 25 dlrs a barrel
and chemical exports were adversely affected by the strong U.S.
dollar, Dow had profits of 58 mln dlrs. 'I believe the entire
chemical industry is headed for a record year or close to it,'
Oreffice said.
GAF chairman Samuel Heyman estimated that the U.S. chemical
industry would report a 20 pct gain in profits during 1987.
Last year, the domestic industry earned a total of 13 billion
dlrs, a 54 pct leap from 1985.
The turn in the fortunes of the once-sickly chemical
industry has been brought about by a combination of luck and
planning, said Pace's John Dosher.
Dosher said last year's fall in oil prices made feedstocks
dramatically cheaper and at the same time the American dollar
was weakening against foreign currencies. That helped boost
U.S. chemical exports.
Also helping to bring supply and demand into balance has
been the gradual market absorption of the extra chemical
manufacturing capacity created by Middle Eastern oil producers
in the early 1980s.
Finally, virtually all major U.S. chemical manufacturers
have embarked on an extensive corporate restructuring program
to mothball inefficient plants, trim the payroll and eliminate
unrelated businesses. The restructuring touched off a flurry of
friendly and hostile takeover attempts.
GAF, which made an unsuccessful attempt in 1985 to acquire
Union Carbide Corp <UK>, recently offered three billion dlrs
for Borg Warner Corp <BOR>, a Chicago manufacturer of plastics
and chemicals. Another industry powerhouse, W.R. Grace <GRA>
has divested its retailing, restaurant and fertilizer
businesses to raise cash for chemical acquisitions.
But some experts worry that the chemical industry may be
headed for trouble if companies continue turning their back on
the manufacturing of staple petrochemical commodities, such as
ethylene, in favor of more profitable specialty chemicals that
are custom-designed for a small group of buyers.
'Companies like DuPont <DD> and Monsanto Co <MTC> spent the
past two or three years trying to get out of the commodity
chemical business in reaction to how badly the market had
deteriorated,' Dosher said. 'But I think they will eventually
kill the margins on the profitable chemicals in the niche
market.' Some top chemical executives share the concern.
'The challenge for our industry is to keep from getting
carried away and repeating past mistakes,' GAF's Heyman
cautioned. 'The shift from commodity chemicals may be
ill-advised. Specialty businesses do not stay special long.'
Houston-based Cain Chemical, created this month by the
Sterling investment banking group, believes it can generate 700
mln dlrs in annual sales by bucking the industry trend.
Chairman Gordon Cain, who previously led a leveraged buyout
of Dupont's Conoco Inc's chemical business, has spent 1.1
billion dlrs since January to buy seven petrochemical plants
along the Texas Gulf Coast.
The plants produce only basic commodity petrochemicals that
are the building blocks of specialty products.
'This kind of commodity chemical business will never be a
glamorous, high-margin business,' Cain said, adding that demand
is expected to grow by about three pct annually.
Garo Armen, an analyst with Dean Witter Reynolds, said
chemical makers have also benefitted by increasing demand for
plastics as prices become more competitive with aluminum, wood
and steel products. Armen estimated the upturn in the chemical
business could last as long as four or five years, provided the
U.S. economy continues its modest rate of growth.
|
test/15065 | test/15065 |@title fidata:1 corp:1 fid:1 4th:1 qtr:1 loss:1 |@word shr:2 loss:7 two:1 ct:3 vs:15 profit:6 38:1 net:7 90:1 000:19 1:3 685:1 revs:2 826:1 29:1 3:5 mln:5 year:5 37:1 dlrs:17 46:1 15:1 0:2 2:2 047:1 26:2 123:1 6:1 note:1 include:5 pretax:3 security:1 sale:2 gain:3 10:1 quarter:5 486:1 112:1 business:1 nil:2 4:2 656:2 disposition:1 product:1 line:1 150:2 300:1 tax:3 credit:1 102:1 736:1 reversal:1 carryforward:2 259:1 264:1 8:1 635:1 579:1 | FIDATA CORP <FID> 4TH QTR LOSS
Shr loss two cts vs profit 38 cts
Net loss 90,000 vs profit 1,685,000
Revs 1,826,000 vs 29.3 mln
Year
Shr profit 3.37 dlrs vs profit 46 cts
Net profit 15.0 mln vs profit 2,047,000
Revs 26.2 mln vs 123.6 mln
NOTE: Net includes pretax securities sale gain 10,000 dlrs
vs loss 1,000 dlrs in quarter and gain 486,000 dlrs vs loss
112,000 dlrs in year.
Net includes pretax gains on sale of businesses of nil vs
4,656,000 dlrs in quarter and 26.0 mln dlrs vs 4,656,000 dlrs
in year.
Net includes pretax losses on disposition of product line
of nil vs 3,150,000 dlrs in quarter and 3,300,000 dlrs vs
3,150,000 dlrs in year.
Quarter net includes tax credits of 102,000 dlrs vs 736,000
dlrs.
Net includes reversal of tax loss carryforwards of 259,000
dlrs vs 264,000 dlrs in quarter and tax loss carryforwards of
8,635,000 dlrs vs 579,000 dlrs in year.
|
test/15067 | test/15067 |@title marble:1 financial:1 corp:1 mrbl:1 1st:1 qtr:1 net:1 |@word oper:2 shr:1 26:1 ct:1 vs:2 give:1 net:2 866:1 000:3 480:1 note:1 1987:1 exclude:1 157:1 dlr:1 gain:1 termination:1 pension:1 plan:1 company:1 go:1 public:1 august:1 1986:1 | MARBLE FINANCIAL CORP <MRBL> 1ST QTR NET
Oper shr 26 cts vs not given
Oper net 866,000 vs 480,000
NOTE: 1987 net excludes 157,000 dlr gain from termination
of pension plan.
Company went public in August 1986.
|
test/15069 | test/15069 |@title dominion:2 textile:2 call:2 report:2 bid:2 burlington:2 rumor:2 |@word | DOMINION TEXTILE CALLS REPORT OF BID FOR BURLINGTON RUMOR
DOMINION TEXTILE CALLS REPORT OF BID FOR BURLINGTON RUMOR
|
test/15070 | test/15070 |@title raytheon:2 co:2 1st:2 qtr:2 shr:2 1:4 37:2 dlrs:4 vs:2 19:2 |@word | RAYTHEON CO 1ST QTR SHR 1.37 DLRS VS 1.19 DLRS
RAYTHEON CO 1ST QTR SHR 1.37 DLRS VS 1.19 DLRS
|
test/15074 | test/15074 |@title fleet:2 financial:2 group:2 1st:2 qtr:2 shr:2 73:2 ct:4 vs:2 60:2 |@word | FLEET FINANCIAL GROUP 1ST QTR SHR 73 CTS VS 60 CTS
FLEET FINANCIAL GROUP 1ST QTR SHR 73 CTS VS 60 CTS
|
test/15077 | test/15077 |@title diebold:1 inc:1 dbd:1 declare:1 dividend:1 |@word qtly:1 div:1 30:2 ct:2 vs:1 prior:1 pay:1 june:1 8:1 record:1 may:1 18:1 | DIEBOLD INC <DBD> DECLARES DIVIDEND
Qtly div 30 cts vs 30 cts prior
Pay June 8
Record May 18
|
test/15078 | test/15078 |@title independent:1 bank:1 corp:1 ibcp:1 regular:1 dividend:1 |@word qtly:1 div:1 10:3 ct:2 vs:1 previously:1 pay:1 april:2 20:1 record:1 | INDEPENDENT BANK CORP <IBCP> REGULAR DIVIDEND
Qtly div 10 cts vs 10 cts previously
Pay April 20
Record April 10
|
test/15079 | test/15079 |@title raytheon:1 co:1 rtn:1 1st:1 qtr:1 net:1 |@word shr:1 1:4 37:1 dlrs:2 vs:4 19:1 net:1 101:1 8:2 mln:4 92:1 3:1 revs:1 750:1 billion:2 725:1 avg:1 shrs:1 74:1 2:1 77:1 | RAYTHEON CO <RTN> 1ST QTR NET
Shr 1.37 dlrs vs 1.19 dlrs
Net 101.8 mln vs 92.3 mln
Revs 1.750 billion vs 1.725 billion
Avg shrs 74.2 mln vs 77.8 mln
|
test/15082 | test/15082 |@title waltham:1 savings:1 bank:1 wlbk:1 initial:1 dividend:1 |@word qtly:1 div:1 eight:1 ct:1 vs:1 n:1 payable:1 may:1 11:1 record:1 april:1 24:1 | WALTHAM SAVINGS BANK <WLBK> INITIAL DIVIDEND
Qtly div eight cts vs N.A.
Payable May 11
Record April 24
|
test/15090 | test/15090 |@title fleet:1 financial:1 group:1 flt:1 1st:1 qtr:1 net:1 |@word shr:2 primary:1 73:1 ct:4 vs:5 60:1 dilute:1 70:1 58:1 net:2 38:1 528:1 000:2 31:1 680:1 avg:1 share:2 52:1 087:1 634:1 51:1 294:1 652:1 note:1 qtr:1 interest:1 income:1 130:1 7:1 mln:2 dlrs:2 114:1 8:1 earning:1 per:1 reflect:1 two:1 one:1 common:1 stock:1 split:1 march:1 15:1 | FLEET FINANCIAL GROUP <FLT> 1ST QTR NET
Shr primary 73 cts vs 60 cts
Shr diluted 70 cts vs 58 cts
Net 38,528,000 vs 31,680,000
Avg shares 52,087,634 vs 51,294,652
NOTE: Qtr net interest income is 130.7 mln dlrs vs 114.8
mln dlrs. Earnings per share reflects two-for-one common stock
split on March 15.
|
test/15091 | test/15091 |@title dominion:1 call:1 burlington:1 bur:1 report:1 rumor:1 |@word dominion:6 textile:8 inc:2 consider:3 publish:1 report:4 buy:2 stake:2 burlington:3 industries:1 make:4 joint:1 bid:2 company:8 rumor:5 spokesman:2 say:9 far:1 concern:2 comment:3 michel:1 dufour:3 tell:1 reuters:1 response:1 query:1 information:1 give:1 publicly:1 yes:2 interested:1 acquisition:2 big:1 probably:1 base:1 people:1 start:1 sort:1 ask:1 whether:2 prepared:1 president:1 chairman:1 thomas:1 bell:1 town:1 unavailable:1 last:2 year:2 unsuccesful:1 104:1 mln:4 u:5 dlr:2 avondale:1 mills:1 maintain:1 120:1 line:1 credit:1 use:1 american:1 negotiate:1 many:1 would:1 industry:1 one:1 stock:1 rise:1 sharply:1 morning:1 join:1 investor:1 asher:1 edelman:1 takeover:1 offer:1 operate:1 profit:1 11:1 1:1 canadian:1 dlrs:2 sale:1 926:1 5:1 repeatedly:1 concentrate:1 expand:2 plan:1 diversify:1 new:1 product:1 market:1 area:1 addition:1 operation:1 | DOMINION CALLS BURLINGTON <BUR> REPORT RUMOR
<Dominion Textile Inc> considers a
published report that it has bought a stake in Burlington
Industries Inc and is considering making a joint bid for the
company to be a rumor, a company spokesman said.
'As far as I am concerned and the company is concerned, they
are rumors and we're not commenting on rumors,' spokesman Michel
Dufour told Reuters in response to a query.
'All the information that has been given out publicly is
that, yes, Dominion Textile is interested in making an
acquisition that big...probably based on that people are
starting all sorts of rumors,' he said.
Dufour said yes when asked whether the report was only a
rumor, but said the company was not prepared to comment
further. Dominion Textile president and chairman Thomas Bell
was out of town and unavailable for comment.
Dominion Textile last year made an unsuccesful 104-mln-
U.S.-dlr bid for Avondale Mills and has maintained a 120-mln-
U.S.-dlr line of credit to be used for an American acquisition.
Dufour said the company has been negotiating with 'many'
U.S. textile companies but would not say whether Burlington
Industries was one of them.
Burlington's stock rose sharply this morning on the report,
which said Dominion Textile had joined with U.S. investor Asher
Edelman to buy a stake in the company and to consider making a
takeover offer.
Dominion Textile, which reported operating profit of 11.1
mln Canadian dlrs last year on sales of 926.5 mln dlrs, has
repeatedly said it will concentrate on expanding into the U.S.
The company has said it plans to diversify into new product
and market areas in addition to expanding its textile
operations.
|
test/15092 | test/15092 |@title fed:4 set:2 overnight:2 system:2 repurchase:2 say:2 |@word | FED SETS OVERNIGHT SYSTEM REPURCHASES, FED SAYS
FED SETS OVERNIGHT SYSTEM REPURCHASES, FED SAYS
|
test/15093 | test/15093 |@title raytheon:1 rtn:1 net:1 rise:1 operation:1 |@word raytheon:1 say:5 10:1 pct:2 rise:2 first:2 quarter:3 net:1 101:1 8:1 mln:1 dlrs:4 reflect:1 improved:1 operation:1 low:1 effective:1 tax:1 rate:1 company:2 revenue:2 gain:1 electronics:1 major:1 appliance:1 line:1 offset:1 decrease:1 energy:1 service:1 aircraft:1 product:1 1:2 4:1 75:1 billion:4 backlog:1 stand:1 7:2 520:1 912:1 year:2 earlier:1 five:1 3:1 55:1 dlr:1 u:1 defense:1 contract:1 award:1 shortly:1 close:1 | RAYTHEON <RTN> NET RISES ON OPERATIONS
Raytheon said a 10 pct rise in
its first quarter net to 101.8 mln dlrs reflected improved
operations and a lower effective tax rate.
The company said revenue gains in electronics, major
appliances and other lines were offset by decreases in energy
services and aircraft products. Revenues in the quarter rose
1.4 pct to 1.75 billion dlrs, it said.
The company said backlog stood at 7.520 billion dlrs, down
from 7.912 billion dlrs a year earlier. It said a five year
3.55 billion dlr U.S. defense contract was awarded shortly
after the close of the first quarter.
|
test/15094 | test/15094 |@title general:1 instrument:1 corp:1 grl:1 4th:1 qtr:1 loss:1 |@word end:1 feb:1 28:1 shr:2 loss:9 2:3 80:2 dlrs:8 vs:7 profit:2 17:1 ct:1 net:2 90:1 5:5 mln:12 271:1 000:1 revs:2 240:1 9:2 159:1 4:3 year:2 49:1 07:1 66:1 787:1 612:1 note:1 include:2 89:1 6:2 14:1 91:1 current:1 qtr:2 discontinue:1 operation:1 1986:1 pretax:1 gain:2 five:1 settlement:1 litigation:1 tax:2 1:1 change:1 estimate:1 effective:1 rate:1 | GENERAL INSTRUMENT CORP <GRL> 4TH QTR LOSS
Ended Feb 28
Shr loss 2.80 dlrs vs profit 17 cts
Net loss 90.5 mln vs profit 5,271,000
Revs 240.9 mln vs 159.4 mln
Year
Shr loss 2.49 dlrs vs loss 2.07 dlrs
Net loss 80.4 mln vs loss 66.5 mln
Revs 787.9 mln vs 612.4 mln
NOTE: Includes loss of 89.6 mln dlrs vs loss 14.5 mln dlrs
in year and loss of 91.6 mln dlrs in current qtr from
discontinued operations.
1986 qtr includes pretax gain of five mln dlrs from
settlement of litigation and tax gain of 5.1 mln dlrs from
change in estimated effective tax rate.
|
test/15095 | test/15095 |@title cocoa:1 exporter:1 expect:1 limit:1 sale:1 |@word major:4 cocoa:9 exporter:1 likely:1 limit:3 sale:5 week:1 ahead:1 effort:2 boost:1 world:6 price:6 source:4 close:1 meeting:4 producers:1 alliance:1 cpa:4 say:4 depressed:1 market:2 one:2 main:1 topic:1 discuss:1 closed:1 door:1 11:1 member:1 begin:1 monday:1 producer:5 agree:2 cut:1 would:1 aid:1 buffer:3 stock:5 manager:3 new:1 international:1 pact:1 support:1 produce:1 consume:1 nation:1 operation:1 rule:2 london:1 last:1 month:1 expect:1 enter:1 soon:1 weight:1 three:2 successive:1 surplus:1 recently:1 fall:2 level:1 buy:2 aim:1 keep:1 within:1 pre:1 set:1 range:1 sell:2 rise:1 present:1 interesting:1 comment:1 delegate:1 represent:1 another:1 much:1 1986:1 87:1 october:1 september:1 crop:1 near:1 term:1 concern:1 essentially:1 next:1 year:1 harvest:1 note:1 however:1 industry:1 brazil:2 number:1 two:1 private:1 hand:1 mean:1 difficult:1 west:1 african:1 make:1 authorize:1 commodity:1 marketing:1 board:1 include:1 top:1 ivory:1 coast:1 ghana:1 account:1 80:1 pct:1 output:1 due:1 end:1 tomorrow:1 evening:1 | COCOA EXPORTERS EXPECTED TO LIMIT SALES
Major cocoa exporters are likely to
limit sales in the weeks ahead in an effort to boost world
prices, sources close to a meeting of the Cocoa Producers
Alliance (CPA) said.
The sources said the depressed world market had been one of
the main topics discussed in a closed door meeting of the
11-member CPA which began on Monday.
They said producers agreed that cutting sales would aid the
buffer stock manager of a new international cocoa pact in his
effort to support prices.
Major cocoa producing and consuming nations agreed
operation rules for the buffer stock at a meeting in London
last month and the stock manager is expected to enter the
market soon.
Prices, under the weight of three successive cocoa
surpluses, recently fell to the level at which the manager has
to buy cocoa under stock rules.
The buffer stock aims to keep prices within a pre-set range
by buying when prices fall and selling when they rise.
'The world's cocoa price at present is just not interesting,'
commented one delegate representing a major CPA producer.
Another source said that with much of the 1986/87
(October-September) world cocoa crop sold, limiting sales in
the near term concerns essentially next year's harvest.
The sources noted, however, that the cocoa industry in
Brazil, the world's number two producer, is in private hands.
This means limiting sales is more difficult than in major West
African producers, where sales are made or authorized by
commodity marketing boards.
The CPA includes the world's top three producers, Ivory
Coast, Brazil and Ghana, and accounts for 80 pct of all output.
The meeting here is due to end tomorrow evening.
|
test/15096 | test/15096 |@title fed:1 add:1 reserve:1 via:1 overnight:1 repurchase:1 |@word federal:2 reserve:2 enter:1 u:1 government:1 security:1 market:1 arrange:1 overnight:1 system:2 repurchase:1 agreement:1 fed:2 spokesman:1 say:2 dealer:1 fund:1 trade:1 6:1 3:1 8:1 pct:1 begin:1 temporary:1 direct:1 supply:1 banking:1 | FED ADDS RESERVES VIA OVERNIGHT REPURCHASES
The Federal Reserve entered the U.S.
Government securities market to arrange overnight System
repurchase agreements, a Fed spokesman said.
Dealers said that Federal funds were trading at 6-3/8 pct
when the Fed began its temporary and direct supply of reserves
to the banking system.
|
test/15097 | test/15097 |@title honduras:1 seek:1 pl:1 480:1 bulk:1 wheat:1 april:1 13:1 |@word honduras:2 tender:1 april:3 13:4 public:1 law:1 480:1 approximately:1 52:1 500:7 tonne:7 various:1 wheat:1 bulk:1 agent:4 country:1 say:4 seek:1 u:2 2:2 well:2 northern:1 spring:1 dns:2 14:3 pct:4 protein:2 minimum:2 moisture:2 maximum:2 hard:1 red:1 winter:1 12:2 ns:1 layday:2 include:2 july:2 1:2 10:3 7:3 9:2 aug:1 8:2 000:6 sept:1 15:3 25:3 hrw:1 june:1 20:1 30:1 5:1 6:1 september:1 offer:1 due:1 1550:1 hrs:2 edt:2 remain:1 valid:1 1000:1 | HONDURAS SEEKING PL-480 BULK WHEAT APRIL 13
Honduras will tender April 13 under
Public Law 480 for approximately 52,500 tonnes of various
wheats in bulk, an agent for the country said.
The agent said Honduras is seeking U.S. no. 2 or better
northern spring/DNS, with 14 pct protein minimum and 13 pct
moisture maximum, and U.S. no. 2 or better hard red winter,
with 12 pct protein minimum and 13 pct moisture maximum.
The agent said NS/DNS laydays include July 1-10 for
7,500-9,500 tonnes, Aug 1-10 for 8,000-10,000 tonnes, and Sept
15-25 for 12,500-14,500 tonnes.
HRW laydays include June 20-30 on 5,000-7,000 tonnes, July
15-25 for 6,500-8,500 tonnes, and September 15-25 for
7,000-9,000 tonnes.
Offers are due by 1550 hrs EDT, April 13, and will remain
valid until 1000 hrs EDT, April 14, the agent said.
|
test/15103 | test/15103 |@title j:2 p:2 morgan:1 jpm:1 net:1 hurt:1 brazil:1 trading:1 |@word morgan:9 co:1 inc:1 say:4 first:3 quarter:6 earning:3 fall:3 3:3 2:4 pct:4 largely:1 reflect:1 previously:1 announce:1 decision:2 place:2 non:4 accrual:2 status:1 1:5 billion:1 dlrs:19 medium:1 long:1 term:1 loan:4 brazil:5 spur:1 suspension:1 interest:5 payment:3 february:1 20:3 reduce:2 net:9 income:5 mln:32 226:1 4:5 compare:3 233:1 9:4 three:2 month:1 1986:4 also:1 report:2 loss:6 8:1 security:3 underwriting:2 trading:5 contrast:1 gain:2 45:1 year:6 early:2 period:1 fourth:1 post:1 5:3 setback:1 euromarket:3 condition:1 sector:1 remain:1 difficult:1 last:1 float:1 rate:1 note:1 suffer:1 heavy:1 price:1 spokeswoman:1 unable:1 whether:1 restrict:1 positive:1 side:1 provision:2 35:1 70:1 foreign:1 exchange:1 rise:3 82:1 72:2 6:1 trust:1 increase:2 95:1 75:1 operate:1 mainly:1 fee:1 commission:1 102:1 88:1 investment:1 drop:1 43:1 58:1 490:1 499:1 earlier:4 yield:2 79:1 mean:1 record:1 actually:1 receive:1 would:2 525:1 99:1 resume:1 1987:1 cut:1 add:1 allowance:1 credit:1 end:4 march:1 total:1 953:1 910:1 815:1 recovery:2 six:1 charge:2 eight:1 49:1 exclude:1 accrue:1 583:1 633:1 684:1 expense:1 371:1 303:1 half:1 relate:1 personnel:1 cost:1 | J.P. MORGAN <JPM> NET HURT BY BRAZIL, TRADING
J.P. Morgan and Co Inc said its
first-quarter earnings fell by 3.2 pct, largely reflecting its
previously announced decision to place on non-accrual status
its 1.3 billion dlrs of medium- and long-term loans to Brazil.
That decision, spurred by Brazil's suspension of interest
payments on February 20, reduced the quarter's net income by 20
mln dlrs to 226.4 mln dlrs, compared with 233.9 mln in the
first three months of 1986.
Morgan also reported a loss of 1.8 mln dlrs from securities
underwriting and trading, in contrast to a gain of 45.4 mln
dlrs in the year-earlier period.
In the fourth quarter of 1986, Morgan posted other trading
losses of 5.5 mln dlrs because of setbacks in the trading and
underwriting of Euromarket securities.
Conditions in some sectors of the Euromarket remained
difficult last quarter, with floating rate notes suffering
heavy price falls, but a spokeswoman was unable to say whether
Morgan's trading losses were restricted to the Euromarket.
On the positive side, Morgan reduced its provision for loan
losses to 35 mln dlrs from 70 mln a year earlier. Foreign
exchange trading income rose to 82 mln dlrs from 72.6 mln and
trust income increased to 95.9 mln dlrs from 75.9 mln.
Morgan said other operating income, mainly fees and
commissions, rose to 102.2 mln dlrs from 88.4 mln, but net
investment securities gains dropped to 43.1 mln from 58.1 mln.
Net interest earnings were 490.4 mln dlrs in the first
quarter, down from 499.4 mln a year earlier, and net yield fell
to 2.79 pct from 3.20 pct.
If Brazil had not been placed on non-accrual, which means
that interest can be recorded as income only when payments are
actually received, net interest earnings would have been 525.9
mln dlrs and net yield 2.99 pct. If Brazil does not resume
payments, 1987 net would be cut by 72 mln dlrs, Morgan added.
After the provision for loan losses, Morgan's allowance for
credit losses at the end of March totaled 953 mln dlrs compared
with 910 mln at end-1986 and 815 mln a year earlier.
It reported net recoveries of six mln dlrs after
charge-offs of eight mln, compared with net charge-offs of 49
mln dlrs after recoveries of three mln a year earlier.
Excluding Brazil, non-accruing loans at quarter's end were
583 mln dlrs, down from 633 mln at end-1986 and 684 mln a year
earlier. Non-interest expenses rose to 371.1 mln dlrs from
303.5 mln dlrs, with more than half the increase related to
personnel costs, Morgan said.
|
test/15104 | test/15104 |@title atlas:1 consolidate:1 mining:1 acmb:1 4th:1 qtr:1 |@word shr:2 loss:7 17:1 3:3 ct:3 vs:6 21:1 5:2 net:2 14:1 mln:8 18:1 0:1 revs:2 27:1 23:1 7:2 year:1 58:1 1:1 01:1 dlrs:1 48:1 84:1 2:1 111:1 141:1 9:1 | ATLAS CONSOLIDATED MINING <ACMB> 4TH QTR
Shr loss 17.3 cts vs 21.5 cts
Net loss 14.5 mln vs loss 18.0 mln
Revs 27.3 mln vs 23.7 mln
Year
Shr loss 58 cts vs loss 1.01 dlrs
Net loss 48.3 mln vs loss 84.2 mln
Revs 111.7 mln vs 141.9 mln
|
test/15106 | test/15106 |@title brazil:1 grain:1 harvest:1 face:1 storage:1 problem:1 |@word storage:7 problem:4 brazil:2 record:2 grain:4 crop:6 likely:1 result:1 loss:2 five:2 mln:4 tonne:4 agriculture:1 ministry:2 spokesman:2 say:5 leonardo:1 brito:4 speak:1 brasilia:1 tell:1 reuters:1 believe:1 year:1 estimate:1 65:1 would:3 lose:1 part:1 normal:1 inevitable:1 harvesting:1 stem:1 capacity:5 66:1 theoretically:1 sufficient:1 badly:1 distribute:1 state:1 sao:1 paulo:1 parana:1 rio:1 grande:1 sul:1 70:1 pct:4 nation:2 responsible:1 50:1 60:1 production:3 big:1 concentrate:1 centre:2 west:2 grow:1 region:1 rise:1 outpace:1 whose:1 include:1 soya:1 maize:1 30:1 40:1 20:1 space:1 addition:1 poor:1 distribution:1 unit:1 much:1 gear:1 store:2 sack:1 enough:1 suitable:1 loose:1 finally:1 shortage:1 lorry:2 transport:2 sheer:1 scale:1 task:1 evident:1 television:1 report:1 show:1 enormous:1 queue:1 wait:1 outside:1 granary:1 | BRAZIL GRAIN HARVEST FACES STORAGE PROBLEMS
Storage problems with Brazil's record
grain crop are likely to result in losses of about five mln
tonnes, an Agriculture Ministry spokesman said.
Ministry spokesman Leonardo Brito, speaking from Brasilia,
told Reuters he believed that about five mln tonnes of this
year's estimated crop of 65 mln tonnes would be lost.
He said part of this would be the normal loss inevitable in
harvesting, but that most of it would stem from storage
problems.
Brazil has a storage capacity of 66 mln tonnes,
theoretically sufficient for the crop.
But Brito said that the storage capacity was badly
distributed. The states of Sao Paulo, Parana and Rio Grande do
Sul had between them 70 pct of the nation's capacity, but were
responsible for only 50 to 60 pct of production.
The biggest problems are concentrated in the Centre-West
growing regions, where rising production has outpaced storage
capacity.
Brito said the Centre-West, whose crops include soya and
maize, had between 30 and 40 pct of the nation's grains
production but only 20 pct of its storage space.
In addition to the poor distribution of storage units,
there is the problem that too much of the capacity is geared to
storing grain in sacks, while not enough is suitable for
storing loose grain, Brito said.
Finally, there is a shortage of lorries to transport the
crops.
The sheer scale of the task in transporting the record crop
has been evident from television reports, which have shown
enormous queues of lorries waiting outside granaries.
|
test/15107 | test/15107 |@title fleet:1 flt:1 shareholder:1 approve:1 share:1 increase:1 |@word fleet:4 financial:2 group:1 say:4 shareholder:2 approve:2 increase:2 share:5 company:3 authorize:1 common:1 stock:1 100:1 000:4 75:1 currently:1 move:1 annual:1 meeting:1 providence:1 today:1 report:1 first:3 quarter:3 earning:1 rise:1 38:1 5:1 mln:2 dlrs:4 73:1 ct:2 31:2 7:1 60:1 1986:1 j:1 terence:1 murray:2 chairman:1 president:1 mortgage:2 banking:1 activity:1 particular:1 continue:1 produce:1 signficant:1 income:1 servicing:1 portfolio:1 reach:1 22:1 1:2 billion:2 march:2 include:1 8:1 purchase:1 | FLEET <FLT> SHAREHOLDERS APPROVE SHARE INCREASE
Fleet Financial Group said its
shareholders approved an increase in shares of the company's
authorized common stock to 100,000,000 shares from 75,000,000
shares currently.
The company said shareholders approved the move at the
annual meeting in Providence today when the company reported
that its first quarter earnings rose to 38.5 mln dlrs, or 73
cts a share, from 31.7 mln dlrs, or 60 cts a share, in the
first quarter 1986.
J. Terence Murray, chairman and president of Fleet
Financial, said, 'Fleet's mortgage banking activities in
particular continued to produce signficant income increases (in
the first quarter).'
Murray said Fleet's mortgage servicing portfolio reached
22.1 billion dlrs by March 31, including 1.8 billion dlrs
purchased in March.
|
test/15109 | test/15109 |@title rowe:2 furniture:1 corp:1 1st:1 qtr:1 feb:1 28:1 |@word shr:1 42:1 ct:2 vs:3 35:1 net:1 854:1 000:2 839:1 revs:1 23:1 2:1 mln:2 21:1 9:1 | ROWE FURNITURE CORP <ROWE> 1ST QTR FEB 28
Shr 42 cts vs 35 cts
Net 854,000 vs 839,000
Revs 23.2 mln vs 21.9 mln
|
test/15110 | test/15110 |@title reuters:1 chairman:1 urge:1 free:1 information:1 flow:1 |@word exchange:3 telecommunication:1 authority:1 abolish:1 restriction:3 full:2 free:1 dissemination:1 information:3 investment:1 banking:2 community:2 reuters:2 holdings:1 plc:1 rtrs:1 l:1 chairman:1 sir:1 christopher:1 hogg:2 say:3 1986:2 annual:2 repoprt:1 lengthy:1 negotiation:1 bring:1 agreement:1 tokyo:1 london:2 stock:1 still:1 complete:1 access:1 market:3 datum:2 reuter:2 service:2 many:1 maintain:1 add:2 member:1 appear:1 believe:1 protect:2 interest:1 case:1 seem:1 limit:1 distribution:1 order:1 provide:1 competitive:2 advantage:1 commercial:1 business:1 also:1 note:1 despite:1 increase:2 liberalisation:1 telecommunications:1 field:1 country:2 continue:1 state:1 monopoly:1 expense:1 economic:1 sector:1 deal:1 remain:1 exclude:1 result:1 serve:1 entire:1 economy:1 put:1 disadvantage:1 pre:1 tax:1 profit:1 39:1 pct:3 previous:1 year:1 130:1 1:1 mln:2 stg:2 43:1 rise:1 revenue:1 620:1 9:1 earning:1 per:1 ordinary:1 share:1 47:1 19:1 4p:1 shareholder:1 meeting:1 hold:1 april:1 29:1 | REUTERS CHAIRMAN URGES FREER INFORMATION FLOWS
Exchanges and telecommunications
authorities should abolish their restrictions on full and free
dissemination of information to the investment and banking
communities, Reuters Holdings Plc <RTRS.L> chairman Sir
Christopher Hogg said.
In the 1986 annual repoprt, he said lengthy negotiations
had brought agreement with the Tokyo and London Stock Exchanges
for fuller, but still not complete, access to market data
through Reuter services.
'Many other markets maintain restrictions,' he added.
Hogg said members of some markets appear to believe that
information restrictions protected their interests.
In other cases, exchanges seem to be limiting the
distribution of data in order to provide competitive advantage
to their own commercial information businesses.
He also noted that despite increasing liberalisation in the
telecommunications field, some countries continue to protect
their state monopolies at the expense of other economic
sectors.
'Reuter dealing services remain excluded from such
countries. As a result, banking communities serving entire
economies are put at a competitive disadvantage,' he added.
Reuters increased its 1986 pre-tax profit by 39 pct from
the previous year to 130.1 mln stg on a 43 pct rise in revenues
to 620.9 mln stg.
Earnings per ordinary share were up 47 pct to 19.4p. The
annual shareholder meeting will be held in London on April 29.
|
test/15111 | test/15111 |@title ccl:2 industries:1 purchase:1 stake:1 monobloc:1 |@word industries:1 inc:1 say:2 purchase:1 majority:1 interest:1 monobloc:1 u:1 envases:1 metalurgicos:1 de:1 alava:1 spain:1 term:1 disclose:1 ccl:1 also:1 agree:1 exchange:1 present:1 future:1 technology:1 envase:1 | CCL INDUSTRIES PURCHASES STAKE IN MONOBLOC
<CCL Industries Inc> said it purchased a
majority interest in Monobloc U.S.A. from Envases Metalurgicos
de Alava of Spain.
Terms were not disclosed.
CCL also said it agreed to exchange present and future
technology with Envases.
|
test/15112 | test/15112 |@title paris:1 group:1 publishing:1 daily:1 franc:1 tin:1 price:1 |@word association:5 white:2 metal:7 decide:1 publish:2 daily:1 tin:4 price:6 french:7 franc:4 per:2 100:2 kilo:2 federation:2 non:3 ferrous:3 say:3 quote:2 first:1 time:1 yesterday:1 introduce:1 lack:1 cause:1 problem:1 company:1 spokesman:2 today:1 set:1 4:2 776:1 tuesday:1 790:1 international:1 chamber:1 commerce:1 stop:2 london:1 exchange:1 lme:1 trading:1 october:1 24:1 1985:1 test:1 basis:1 use:1 calculate:1 last:1 month:1 ensure:1 reliable:1 pre:1 tax:1 specified:1 quality:1 minimum:2 99:1 9:1 pct:1 purity:1 port:1 border:1 railway:1 station:1 delivery:1 10:1 tonne:1 group:1 various:1 include:1 | PARIS GROUP PUBLISHING DAILY FRANC TIN PRICE
The Association of White Metals has
decided to publish a daily tin price here in French francs per
100 kilos, the French Federation of Non-Ferrous Metals said.
The price, quoted for the first time yesterday, was
introduced as the lack of tin quotes was causing problems for
some French companies, a spokesman for the non-ferrous metals
association said.
Today's price was set at 4,776 francs per 100 kilos and
Tuesday's at 4,790.
The International Chamber of Commerce stopped publishing a
tin price after the London Metal Exchange (LME) stopped tin
trading on October 24, 1985.
The Association has tested the basis it uses to calculate a
French franc price over the last few months to ensure it was
reliable, the spokesman said.
The French franc price is pre-tax, for specified quality, a
minimum 99.9 pct purity, at a French port or border railway
station and a minimum delivery of 10 tonnes.
The French Federation of Non-Ferrous Metals groups various
metal associations including the Association of White Metals.
|
test/15118 | test/15118 |@title rhodes:1 inc:1 rhd:1 declare:1 dividend:1 |@word qtly:1 div:1 nine:2 ct:2 vs:1 prior:1 pay:1 july:1 15:2 record:1 june:1 | RHODES INC <RHD> DECLARES DIVIDEND
Qtly div nine cts vs nine cts prior
Pay July 15
Record June 15
|
test/15119 | test/15119 |@title madeira:1 letter:1 intent:1 acquire:1 |@word madeira:2 inc:2 say:1 sign:1 letter:1 intent:1 acquire:1 tradevest:1 stock:3 exchange:1 completion:1 transaction:1 tradev:1 would:1 90:1 pct:1 issue:1 outstanding:1 | MADEIRA IN LETTER OF INTENT TO BE ACQUIRED
<Madeira Inc> said it
signed a letter of intent to be acquired by Tradevest Inc
through a stock-for-stock exchange.
After completion of the transaction, Tradevest would own 90
pct of the issued outstanding stock of Madeira.
|
test/15120 | test/15120 |@title celltronics:1 celt:1 declare:1 one:1 10:1 split:1 |@word celltronics:1 inc:1 say:2 director:1 declare:1 one:1 10:1 reverse:1 stock:2 split:2 common:1 payable:1 april:2 17:1 shareholder:1 record:1 16:1 | CELLTRONICS <CELT> DECLARES ONE-FOR-10 SPLIT
Celltronics Inc said its directors
declared a one-for-10 reverse stock split of its common stock.
It said the split will be payable April 17 to shareholders
of record April 16.
|
test/15121 | test/15121 |@title montedison:1 agrimont:1 unit:1 1986:1 earning:1 |@word montedison:8 spa:3 italy:1 say:8 net:2 consolidated:1 profit:2 agrimont:6 group:2 form:1 june:1 1986:4 total:1 1:3 5:1 billion:5 lira:5 hold:1 company:4 agro:1 industrial:1 business:1 sale:1 810:1 amortization:1 cost:1 35:1 13:1 reduction:1 value:1 inventory:1 due:2 fall:1 market:3 price:2 still:1 wholly:1 take:1 step:1 trade:1 milan:1 exchange:1 characterize:1 unstable:1 fertlizer:1 weak:1 dollar:1 decline:1 international:1 product:2 sell:1 europe:1 u:1 operate:1 conserv:1 division:1 pesticide:1 animal:1 health:1 care:1 maintain:1 previous:1 level:1 revenue:1 share:1 name:2 ettore:1 dell:1 isola:1 newly:1 create:1 position:1 president:1 also:1 renato:1 picco:1 manage:2 director:3 eridania:1 gianfranco:1 ceroni:1 italiana:1 olii:1 e:1 sifi:1 member:1 ferruzzi:2 management:1 board:2 argimont:1 40:1 pct:1 | MONTEDISON'S AGRIMONT UNIT 1986 EARNINGS
<Montedison SPA> of Italy said net
consolidated profit for its Agrimont Group, formed in June
1986, totalled 1.5 billion lire in 1986.
Agrimont SPA, the holding company for Montedison's
Agro-Industrial businesses, had sales of 810 billion lire and a
net profit of about 1.1 billion lire, after amortization costs
of 35 billion lire and a 13 billion lire reduction in the value
of inventory due to falling market prices, Montedison said.
Agrimont, still wholly owned by Montedison, is taking steps
to be traded on the Milan exchange, the company said.
The company said that 1986 was characterized by an unstable
fertlizer market due to the weak dollar and the decline of
international prices for products sold in Europe and the U.S
where Agrimont operates through its Conserv division.
In pesticides and in animal health care products Agrimont
maintained its previous level of revenues and market share in
1986, Montedison said.
Montedison said it named Ettore dell'Isola to the newly
created position of president of Agrimont.
Montedison also said it named Renato Picco, managing
director of <Eridania SPA> and Gianfranco Ceroni, managing
director of <Italiana Olii e Sifi>, both of whom are members
of the the Ferruzzi Group's management board, to Argimont's
board of directors. Ferruzzi owns about 40 pct of Montedison,
the company said.
|
test/15122 | test/15122 |@title datron:1 datr:1 agree:1 buyout:1 officer:1 |@word datron:7 corp:1 say:4 agree:1 merge:1 ggfh:1 inc:1 florida:1 base:1 company:3 form:1 four:2 top:1 officer:4 accord:1 term:1 propose:2 transaction:2 share:4 common:2 stock:1 exclude:1 buy:1 six:1 dlrs:1 hold:2 73:1 pct:2 total:1 896:1 000:1 outstanding:1 upon:1 completion:1 would:1 100:1 merger:2 subject:1 gghf:1 receive:1 financing:1 plan:2 shareholder:1 ask:1 approve:1 annual:1 meeting:1 june:1 july:2 expect:1 complete:1 31:1 | DATRON <DATR> AGREES TO BUYOUT BY OFFICERS
Datron Corp said it agreed to
merge with GGFH Inc, a Florida-based company formed by the four
top officers of the company.
According to terms of the proposed transaction, each share
of Datron common stock, excluding those shares owned by the
four officers, will be bought for six dlrs a share, it said.
Datron's officers hold about 73 pct of the total 896,000
Datron common shares outstanding.
Upon completion of the proposed transaction, the officers
of Datron would own 100 pct of the company. The merger is
subject to GGHF's receiving financing for the plan, Datron
said.
Shareholders of Datron will be asked to approve the plan at
their annual meeting to be held in June or July, and the merger
is expected to be completed by July 31, it said.
|
test/15124 | test/15124 |@title trump:2 interstate:2 property:2 talk:2 acquire:2 alexander:2 |@word | TRUMP AND INTERSTATE PROPERTIES IN TALKS TO ACQUIRE ALEXANDERS
TRUMP AND INTERSTATE PROPERTIES IN TALKS TO ACQUIRE ALEXANDERS
|
test/15126 | test/15126 |@title sound:1 warehouse:1 inc:1 swhi:1 3rd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 26:1 ct:4 vs:6 52:2 net:2 1:1 386:1 000:4 2:2 773:1 revs:2 47:1 7:1 mln:4 38:1 5:2 nine:1 mth:1 97:2 765:1 419:1 116:1 9:1 | SOUND WAREHOUSE INC <SWHI> 3RD QTR FEB 28 NET
Shr 26 cts vs 52 cts
Net 1,386,000 vs 2,773,000
Revs 47.7 mln vs 38.5 mln
Nine mths
Shr 52 cts vs 97 cts
Net 2,765,000 vs 5,419,000
Revs 116.9 mln vs 97 mln
|
test/15128 | test/15128 |@title trump:1 interstate:1 talk:1 alexander:1 |@word donald:1 trump:2 interstate:2 property:1 say:4 hold:1 preliminary:1 discussion:1 regard:2 possible:2 joint:2 acquisition:4 alexanders:1 inc:1 47:1 dlrs:1 per:1 share:1 subject:1 applicable:1 real:1 estate:1 gain:1 transfer:1 taxis:1 statement:2 presently:1 40:1 pct:1 alexander:1 common:1 stock:1 intend:1 keep:1 company:1 retailer:1 succe:1 assurance:1 party:1 reach:1 agreement:1 price:1 may:1 offer:1 | TRUMP AND INTERSTATE IN TALKS FOR ALEXANDERS
Donald Trump and Interstate Properties
said they were holding preliminary discussions regarding a
possible joint acquisition of Alexanders Inc at 47 dlrs per
share.
The possible acquisition is subject to any applicable real
estate gains and transfer taxes, the joint statement said.
Trump and Interstate, which presently own about 40 pct of
Alexander's common stock, said they intend to keep the company
as a retailer if they succed in their acquisition.
There can be no assurances that the parties will reach any
agreement regarding an acquisition or what price might be
offered, the statement said.
|
test/15129 | test/15129 |@title japan:1 buy:1 4:1 000:1 tonne:1 canadian:1 rapeseed:1 |@word japan:1 buy:1 4:1 000:1 tonne:1 canadian:1 rapeseed:1 overnight:1 undisclosed:1 price:1 last:1 half:2 may:1 first:1 june:1 shipment:1 trade:1 source:1 say:1 | JAPAN BUYS 4,000 TONNES CANADIAN RAPESEED
Japan bought 4,000 tonnes of Canadian
rapeseed overnight at an undisclosed price for last half
May/first half June shipment, trade sources said.
|
test/15130 | test/15130 |@title telecrafter:1 corp:1 swhi:1 2nd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 profit:4 12:1 ct:4 vs:6 loss:5 14:1 net:2 183:1 000:6 234:1 revs:2 2:3 4:1 mln:4 1:1 5:2 six:2 month:2 22:2 345:1 358:1 9:1 note:1 1987:1 2nd:1 qtr:1 include:1 gain:1 78:1 dlrs:2 154:1 tax:1 carryforward:1 | TELECRAFTER CORP <SWHI> 2ND QTR FEB 28 NET
Shr profit 12 cts vs loss 14 cts
Net profit 183,000 vs loss 234,000
Revs 2.4 mln vs 1.5 mln
Six months
Shr profit 22 cts vs loss 22 cts
Net profit 345,000 vs loss 358,000
Revs 5.2 mln vs 2.9 mln
NOTE:1987 2nd qtr and six months include gains of 78,000
dlrs and 154,000 dlrs for tax loss carryforward.
|
test/15132 | test/15132 |@title tunisia:1 expect:1 tender:1 french:1 wheat:1 |@word tunisia:3 expect:1 tender:2 april:1 14:1 100:1 000:3 tonne:3 french:2 soft:2 wheat:2 delivery:1 may:1 august:1 would:1 cover:2 export:4 credit:3 agency:1 coface:2 trader:1 say:3 official:1 announce:1 yet:1 france:1 sell:1 total:2 200:1 since:1 begining:1 current:1 campaign:1 amount:1 150:1 march:1 1:1 | TUNISIA EXPECTED TO TENDER FOR FRENCH WHEAT
Tunisia is expected to tender April 14 for
100,000 tonnes of French soft wheat for delivery between May
and August and which would be covered by the French export
credit agency, COFACE, export credits, traders said here.
No official tender has been announced yet by Tunisia, they
said.
France has sold a total of 200,000 tonnes of soft wheat to
Tunisia since the begining of the current campaign which was
covered by COFACE export credits. Of this amount, a total of
150,000 tonnes was exported by March 1, they said.
|
test/15136 | test/15136 |@title colt:1 industries:1 inc:1 cot:1 1st:1 qtr:1 net:1 |@word shr:1 28:1 ct:2 vs:4 16:1 net:2 9:1 387:1 000:2 25:1 617:1 revs:1 410:1 1:1 mln:4 393:1 5:1 avg:1 shrs:1 35:1 4:1 164:1 7:1 note:1 1987:1 reflect:2 interest:1 expense:1 debt:1 incur:1 finance:1 recapitalization:2 oct:1 1986:1 prior:1 year:1 earning:1 restate:1 plan:1 | COLT INDUSTRIES INC <COT> 1ST QTR NET
Shr 28 cts vs 16 cts
Net 9,387,000 vs 25,617,000
Revs 410.1 mln vs 393.5 mln
Avg shrs 35.4 mln vs 164.7 mln
NOTE: 1987 net reflects interest expense on debt incurred
to finance recapitalization in Oct. 1986. Prior year earnings
restated to reflect recapitalization plan.
|
test/15138 | test/15138 |@title yankee:1 ynk:1 unit:1 sell:1 subsidiary:1 |@word yankee:1 cos:1 inc:2 say:1 eskey:1 esk:1 subsidiary:1 decide:1 sell:1 yale:1 e:1 key:1 unit:1 detail:1 disclose:1 | YANKEE <YNK> UNIT NOT TO SELL SUBSIDIARY
Yankee Cos Inc said its Eskey
Inc <ESK> subsidiary has decided not to sell its Yale E. Key
unit.
Further details were not disclosed.
|
test/15141 | test/15141 |@title mayfair:1 super:1 markets:1 inc:1 myfra:1 2nd:1 qtr:1 feb:1 28:1 |@word shr:2 59:1 ct:3 vs:6 46:1 net:2 2:2 4:3 mln:8 1:4 9:2 revs:2 122:1 5:3 105:1 six:1 month:1 13:1 dlrs:1 84:1 3:1 242:1 210:1 note:1 1986:1 share:1 adjust:1 stock:1 split:1 | MAYFAIR SUPER MARKETS INC <MYFRA> 2ND QTR FEB 28
Shr 59 cts vs 46 cts
Net 2.4 mln vs 1.9 mln
Revs 122.5 mln vs 105.9 mln
Six months
Shr 1.13 dlrs vs 84 cts
Net 4.5 mln vs 3.4 mln
Revs 242.5 mln vs 210.1 mln
NOTE: 1986 share adjusted for 2-for-1 stock split.
|
test/15144 | test/15144 |@title baton:1 broadcasting:1 inc:1 six:1 mth:1 feb:1 28:1 net:1 |@word shr:1 33:1 ct:2 vs:3 31:1 net:1 9:1 219:1 017:1 8:1 515:1 539:1 revs:1 112:1 0:1 mln:2 95:1 4:1 | <BATON BROADCASTING INC> SIX MTHS FEB 28 NET
Shr 33 cts vs 31 cts
Net 9,219,017 vs 8,515,539
Revs 112.0 mln vs 95.4 mln
|
test/15145 | test/15145 |@title united:1 cable:1 television:1 corp:1 uct:1 3rd:1 qtr:1 net:1 |@word shr:2 loss:4 24:4 ct:4 vs:8 profit:4 seven:2 net:3 5:1 952:1 000:6 2:3 078:1 rev:1 55:1 9:2 mln:9 50:1 6:3 avg:2 shrs:2 25:2 7:1 nine:2 mth:2 11:1 673:1 800:1 revs:1 162:1 143:1 0:1 4:1 note:1 current:1 year:1 period:1 include:1 pretax:1 charge:1 dlrs:3 increase:1 reserve:1 investment:1 broadcast:1 television:1 entity:1 tax:1 credit:1 1:1 002:1 quarter:1 520:1 | UNITED CABLE TELEVISION CORP <UCT> 3RD QTR NET
Shr loss 24 cts vs profit seven cts
Net loss 5,952,000 vs profit 2,078,000
Revs 55.9 mln vs 50.6 mln
Avg shrs 25.2 mln vs 24.7 mln
Nine mths
Shr loss 11 cts vs profit 24 cts
Net loss 2,673,000 vs profit 6,800,000
Revs 162.6 mln vs 143.9 mln
Avg shrs 25.0 mln vs 24.4 mln
NOTE: Current year net both periods includes pretax charge
seven mln dlrs from increase in reserve for investments in
broadcast television entities and tax credits of 1,002,000 dlrs
in quarter and 520,000 dlrs in nine mths.
|
test/15146 | test/15146 |@title canada:1 allow:1 publish:1 takeover:1 harcourt:1 |@word investment:1 canada:6 say:2 allow:1 indirect:1 takeover:1 holt:2 rinehart:2 winston:2 ltd:3 w:1 b:1 saunders:1 co:1 les:1 editions:1 hrw:1 harcourt:4 brace:2 jovanovich:2 inc:3 government:1 agency:1 however:1 agree:1 sell:1 control:1 firm:1 canadian:2 interest:1 within:1 two:1 year:1 u:1 parent:1 hbj:1 indirectly:1 acquire:1 book:1 publishing:1 company:1 purchase:1 cbs:2 last:1 october:1 | CANADA ALLOWS PUBLISHING TAKEOVER BY HARCOURT
Investment Canada said it has allowed the
indirect takeover of Holt, Rinehart and Winston Canada Ltd.,
W.B. Saunders Co of Canada Ltd and Les Editions HRW Ltd by
Harcourt Brace Jovanovich Canada Inc.
The government agency said, however, Harcourt Canada has
agreed to sell control of the firms to Canadian interests
within two years.
Harcourt Canada's U.S. parent, Harcourt Brace Jovanovich
Inc <HBJ>, indirectly acquired the Canadian book publishing
companies when it purchased Holt Rinehart and Winston from CBS
Inc <CBS> last October.
|
test/15149 | test/15149 |@title talk:1 point:1 burlington:1 industries:1 bur:1 |@word large:2 u:4 textile:4 maker:2 focus:2 business:2 competitor:1 find:2 merger:2 partner:1 burlington:11 industries:1 inc:7 may:1 restructure:1 attractive:1 takeover:6 candidate:1 analyst:2 say:19 spotlight:1 fall:1 today:2 rise:4 4:2 7:4 8:7 52:1 speculation:2 investor:1 asher:2 edelman:7 dominion:8 textiles:1 canada:2 buy:4 almost:1 five:1 pct:1 stake:2 publish:1 report:3 jointly:1 acquire:1 weigh:1 offer:2 would:4 comment:2 spokesman:2 montreal:1 base:1 call:1 rumor:1 know:1 true:1 wall:1 street:1 professional:1 convince:1 story:1 victor:1 actually:1 come:1 play:1 arbitrager:3 past:3 however:3 add:1 credence:1 look:3 last:3 year:4 unsuccessfully:1 bid:1 avondale:1 mill:1 maintain:1 120:1 mln:2 dlr:1 line:1 credit:1 use:1 acquisition:2 producer:1 negotiate:1 many:1 company:3 whether:1 among:1 area:1 unusual:1 someone:1 could:1 housecleaning:1 eileen:1 gormley:4 thomson:1 mckinnon:1 sell:2 domestic:1 operation:2 make:2 sheet:1 linen:1 j:2 p:2 stevens:2 co:1 110:1 dlrs:6 also:1 reorganize:1 management:2 less:1 affect:1 foreign:1 competition:1 pull:1 back:1 commodity:1 marketer:1 move:1 heavily:1 industrial:1 fabric:2 c:1 h:1 masland:1 supply:1 carpet:1 auto:1 industry:1 spend:1 never:1 realize:1 return:1 outlay:1 record:1 think:1 poise:1 profitable:1 estimate:1 1987:1 earning:2 2:2 50:2 per:3 share:3 01:1 recommend:2 client:1 current:1 level:1 edward:1 johnson:2 redbook:1 believe:1 stock:2 worth:1 basis:2 46:1 value:2 place:1 60:1 65:1 recent:1 history:1 lot:1 people:1 credible:1 anymore:1 one:1 another:1 succeed:2 force:1 take:1 step:1 enhance:1 shareholder:1 even:1 win:1 target:1 unsuccessful:1 lucky:1 stores:1 fruehauf:1 corp:1 ponderosa:1 along:1 stn:1 climb:1 5:1 44:1 fieldcrest:1 cannon:2 fld:1 result:1 fieldcr:1 1:4 39:1 3:1 west:1 point:1 pepperell:1 wpm:1 67:1 | TALKING POINT/BURLINGTON INDUSTRIES <BUR>
The largest U.S. textile maker focused
on its own business as its competitors found merger partners,
but now Burlington Industries Inc may have restructured itself
into an attractive takeover candidate, analysts said.
The takeover spotlight fell today on Burlington, which rose
4-7/8 to 52-7/8 on speculation that investor Asher Edelman and
Dominion Textiles Inc of Canada bought an almost five pct
stake.
A published report said Edelman and Dominion jointly
acquired a stake in Burlington and were weighing a takeover
offer. Edelman would not comment, and a spokesman for
Montreal-based Dominion called the report just 'rumors.'
Burlington said it did not know if the report was true.
Wall Street professionals said they were not convinced of
the story or that Edelman and Dominion would be the victors if
Burlington actually came into play.
Arbitragers said past comments from Dominion, however,
added credence to the speculation. Dominion has said that it
was looking for a takeover in the U.S.
Last year, Dominion unsuccessfully bid for Avondale Mills
and has maintained a 120 mln dlr line of credit to be used for
a U.S. acquisition.
A Dominion spokesman said Canada's largest textile producer
has been negotiating with 'many' U.S. textile companies, but
would not say whether Burlington was among them.
'There have been acquisitions in this area. It's not
unusual that someone could be looking at Burlington after the
housecleaning they've done,' said Eileen Gormley of Thomson
McKinnon.
Burlington sold its domestic operations, which made sheets
and other linens, to J.P. Stevens and Co Inc for 110 mln dlrs
last year. It also has reorganized management, and focused its
operations on businesses that would be less affected by foreign
competition, Gormley said.
'They've pulled back so as not to be a commodity marketer,'
said Gormley. She said in moving more heavily into industrial
fabrics, Burlington bought C.H. Masland, which supplies carpets
and other fabric to the auto industry.
'In the past, they just spent and never realized the return
on the outlays they did make,' she said.
'You look at their record over the year, and I think
they're poised to be more profitable than they had been in the
past,' Gormley said.
She estimated 1987 earnings of 2.50 dlrs per share, up
from 2.01 dlrs per share.
Some analysts today recommended clients not buy Burlington
at its current levels.
Edward Johnson of Johnson Redbook said he recommends
selling. He said he believes the stock is worth only about 50
dlrs on a takeover basis and about 46 dlrs on an earnings
basis.
Some arbitragers, however, said takeover values have been
placed on the company of 60 to 65 dlrs per share.
'After Asher's (Edelman) recent history, a lot of people
don't find him very credible anymore,' said one arbitrager.
Another, however, said Edelman succeeds in forcing
managements to take steps to enhance shareholder values even if
he doesn't win the target company.
Edelman was unsuccessful last year in offers for Lucky
Stores Inc and Fruehauf Corp. He did succeed in buying
Ponderosa Inc.
The stocks of other textile makers rose along with
Burlington.
J.P. Stevens <STN> climbed 5/8 to 44-7/8, and Fieldcrest
Cannon Inc <FLD>, the result of a merger of Fieldcrest and
Cannon, rose 1-1/8 to 39-3/4. West Point-Pepperell Inc <WPM>
rose 1-7/8 to 67-1/8.
|
test/15152 | test/15152 |@title sterivet:1 laboratories:1 ltd:1 stvtf:1 1st:1 qtr:1 net:1 |@word shr:1 profit:2 10:1 ct:2 vs:3 loss:2 17:1 net:1 206:1 000:3 281:1 revs:1 1:1 022:1 00:1 344:1 | STERIVET LABORATORIES LTD <STVTF> 1ST QTR NET
Shr profit 10 cts vs loss 17 cts
Net profit 206,000 vs loss 281,000
Revs 1,022,00 vs 344,000
|
test/15153 | test/15153 |@title sterivet:1 laboratories:1 ltd:1 stvtf:1 year:1 loss:1 |@word shr:1 loss:4 48:1 ct:2 vs:3 19:1 net:1 746:1 000:4 342:1 revs:1 3:1 213:1 2:1 925:1 | STERIVET LABORATORIES LTD <STVTF> YEAR LOSS
Shr loss 48 cts vs loss 19 cts
Net loss 746,000 vs loss 342,000
Revs 3,213,000 vs 2,925,000
|
test/15154 | test/15154 |@title japan:1 last:1 ditch:1 effort:1 avert:1 tariff:1 |@word senior:1 japanese:7 official:3 tomorrow:1 open:2 talk:2 american:2 trade:10 negotiator:1 last:2 ditch:1 effort:1 avert:2 new:3 high:1 u:9 tariff:3 impose:2 wide:1 variety:1 electronic:1 export:1 makoto:1 kuroda:2 vice:1 minister:1 japan:6 ministry:1 international:1 industry:3 miti:2 hold:1 two:1 day:1 meeting:1 deputy:1 representative:1 michael:1 smith:1 secretary:1 commerce:1 bruce:1 smart:1 go:1 effect:1 april:1 17:1 retaliation:1 failure:1 adhere:2 agreement:3 end:1 dumping:1 semiconductor:7 world:1 market:3 cost:1 home:1 shipment:2 good:1 use:1 include:1 television:1 audio:1 equipment:1 computer:1 say:9 little:1 likelihood:1 would:1 anything:1 100:1 pct:1 duty:1 300:1 mln:1 dlrs:2 worth:1 president:1 reagan:5 announce:1 plan:1 march:1 27:1 close:1 monitoring:1 july:1 1986:1 pact:2 convince:1 honor:1 make:1 annoucement:1 commit:1 full:1 enforcement:1 design:1 provide:1 free:1 fair:1 analyst:1 move:1 aim:1 much:1 practice:1 injure:1 congress:1 complain:1 presidential:1 timidity:1 issue:1 congressional:1 democrats:1 pledge:1 enact:1 aggressive:2 law:1 counter:1 contend:1 inaction:1 redress:1 grow:1 deficit:2 year:1 reach:1 169:1 8:1 billion:1 one:1 third:1 recent:1 sign:1 begin:1 terminate:1 leave:1 tokyo:1 today:1 proposal:1 explanation:1 situation:1 tell:1 daily:1 newspaper:1 ashai:1 shimbun:1 decision:1 base:1 inaccurate:1 datum:1 exaggerated:1 sense:1 power:1 control:1 trader:1 united:1 states:1 excessive:1 expectation:1 stabilize:1 supply:1 demand:1 relation:1 disrupt:1 excess:1 inventory:1 since:1 1985:1 take:1 time:1 also:1 firm:1 enough:1 try:1 sell:1 | JAPAN IN LAST-DITCH EFFORT TO AVERT TARIFFS
Senior Japanese officials tomorrow
open talks with American trade negotiators in a last-ditch
effort to avert new high U.S. tariffs to be imposed on a wide
variety of Japanese electronic exports.
Makoto Kuroda, vice minister of Japan's Ministry of
International Trade and Industry (MITI), is to hold two days of
meetings with the Deputy U.S. Trade Representative, Michael
Smith, and the Under Secretary of Commerce, Bruce Smart.
The new tariffs, to go into effect on April 17, are in
retaliation for Japan's failure to adhere to an agreement to
end dumping semiconductors in world markets at below cost and
to open its home market to U.S. semiconductor shipments.
They are to be imposed on goods which use semiconductors,
including television and audio equipment and computers.
Both U.S. and Japanese officials have said there was little
likelihood the talks would do anything to avert the 100 pct
duties on 300 mln dlrs worth of Japanese shipments.
President Reagan announced the planned tariffs on March 27
after he said that close monitoring of the July 1986
U.S.-Japanese semiconductor pact convinced U.S. officials that
Japan was not honoring the agreement.
In making the annoucement, Reagan said 'I am committed to
the full enforcement of our trade agreements designed to
provide American industry with free and fair trade.'
Trade analysts said his move was aimed as much at Japan's
semiconductor trade practices, which are said to have injured
the U.S. semiconductor industry, as Congress, which has
complained about presidential timidity on trade issues.
Congressional Democrats have pledged to enact aggressive
trade laws to counter what they contend has been Reagan's
inaction to redress the growing U.S. trade deficit, which last
year reached 169.8 billion dlrs.
About one-third of the deficit was with Japan.
Reagan said there were recent signs Japan was beginning to
adhere to the pact and that was why he was not terminating it.
Kuroda said on leaving Tokyo today he had no new proposals
but did have an explanation of the semiconductor situation.
He told the daily newspaper Ashai Shimbun that Reagan's
decision was based on inaccurate data and an exaggerated sense
of MITI's power to control Japanese traders.
'The United States has excessive expectations.,' he said. To
stabilize supply-demand relations which have been disrupted by
excess inventories since 1985 will take some time.'
He also said that U.S. firms had not been aggressive enough
in trying to sell in the Japanese market.
|
test/15156 | test/15156 |@title hoechst:1 celanese:1 send:1 report:1 new:1 facility:1 |@word hoechst:5 celanese:5 corp:3 say:4 send:1 propsective:1 customer:1 confidential:1 report:3 describe:2 polyester:3 textile:3 fiber:3 facility:4 north:1 carolina:3 south:2 company:3 disclose:1 price:1 darlington:1 county:1 c:2 fayetteville:1 n:1 also:1 decribe:1 relate:1 manufacturing:1 marketing:1 administrative:1 technical:1 resource:1 could:1 make:1 avialable:1 buyer:1 form:1 feb:1 27:1 merger:2 american:2 take:1 place:1 agreement:1 reach:1 federal:1 trade:1 commission:1 certain:1 domestic:1 asset:1 combine:1 would:1 divest:1 option:1 divesting:1 either:1 former:2 package:1 | HOECHST CELANESE SENDS REPORT ON NEW FACILITIES
<Hoechst Celanese Corp> said it
sent propsective customers a confidential report describing its
polyester textile fiber facilities in North Carolina and South
Carolina.
The company did not disclose any prices.
The report describes the facilities in Darlington County,
S.C., and Fayetteville, N.C., the company said. The report also
decribes related manufacturing, marketing, administrative and
technical resources that could be made avialable to a buyer.
Hoechst Celanese was formed Feb 27 by the merger of
Celanese Corp and American Hoechst Corp. The merger took place
after an agreement was reached with the Federal Trade
Commission that certain domestic polyester textile fiber assets
of the combined companies would be divested, it said.
Hoechst Celanese said it has the option of divesting either
the South Carolina facilities of the former American Hoechst or
a package of polyester textile fiber facilities of the former
Celanese.
|
test/15157 | test/15157 |@title mellon:1 participate:1 mortgage:1 trust:1 mpmts:1 div:1 |@word qtly:1 div:1 25:2 ct:2 vs:1 prior:1 payable:1 may:1 6:1 record:1 april:1 24:1 | MELLON PARTICIPATING MORTGAGE TRUST <MPMTS> DIV
Qtly div 25 cts vs 25 cts prior
Payable May 6
Record April 24
|
test/15161 | test/15161 |@title u:2 k:1 gec:1 decline:1 comment:1 purchase:1 rumour:1 |@word general:1 electric:1 co:1 plc:1 gecl:1 l:1 gec:3 decline:1 comment:2 rumour:3 london:1 stock:2 market:1 plan:1 another:1 purchase:1 u:2 medical:1 equipment:1 field:1 addition:1 exist:1 subsidiary:1 picker:1 international:1 inc:1 spokesman:1 say:2 company:1 policy:1 acquisition:1 exchange:1 trader:1 help:1 share:1 price:2 rise:1 5p:1 final:1 206p:1 yesterday:1 closing:1 201p:1 | U.K. GEC DECLINES COMMENT ON U.S. PURCHASE RUMOUR
General Electric Co Plc <GECL.L> (GEC)
declined comment on rumours on the London stock market that it
is planning another purchase in the U.S. Medical equipment
field, in addition to its existing U.S. Subsidiary <Picker
International Inc>.
A GEC spokesman said that it is company policy not to
comment on acquisition rumours.
Stock Exchange traders said the rumour helped GEC's share
price to rise 5p, to a final 206p from yesterday's closing
price of 201p.
|
test/15162 | test/15162 |@title preston:1 corp:1 ptrk:1 see:1 first:1 quarter:1 loss:1 |@word preston:1 corp:1 say:2 expect:2 report:1 loss:2 300:1 000:2 dlrs:2 five:1 ct:2 per:2 share:2 first:1 quarter:1 compare:1 profit:1 1:1 081:1 19:1 year:2 trucking:1 company:1 attribute:1 continue:1 rate:1 discount:1 primary:1 market:1 flat:1 revenue:1 increase:1 cost:1 include:1 uninsured:1 claim:1 expense:1 result:3 adverse:1 weather:1 condition:1 last:1 three:1 month:1 outside:1 northeast:1 strong:1 show:1 improved:1 rest:1 | PRESTON CORP <PTRK> SEES FIRST QUARTER LOSS
Preston corp said it expects to
report a loss of about 300,000 dlrs or five cts per share for
the first quarter, compared with a profit of 1,081,000 dlrs or
19 cts per share a year before.
The trucking company attributed the loss to the continued
rate of discounted in its primary markets, flat revenues and
increased costs, including uninsured claims expense resulting
from adverse weather conditions during the last three months.
It said results outside the Northeast were strong, and it
expects to show improved results for the rest of the year.
|
test/15171 | test/15171 |@title white:1 house:1 stand:1 firm:1 japanese:1 sanction:1 |@word presidential:1 spokesman:1 marlin:1 fitzwater:2 say:4 u:1 trade:2 sanction:1 japan:2 likely:1 take:2 effect:2 april:1 17:1 spite:1 full:2 court:2 press:2 japanese:1 official:2 avoid:1 indication:1 would:1 apply:1 certainly:1 put:1 foot:1 forward:1 term:1 explain:1 position:1 tell:1 reporter:1 note:1 high:1 level:1 meeting:1 dispute:1 underway:1 think:1 anything:1 report:1 believe:1 movement:1 | WHITE HOUSE STANDING FIRM ON JAPANESE SANCTIONS
Presidential spokesman Marlin
Fitzwater said U.S. trade sanctions against Japan were likely
take effect on April 17 in spite of a 'full court press' by
Japanese officials to avoid them.
'All indications are they will take effect,' he said.
'I would say Japan is applying the full court press ... They
certainly are putting both feet forward in terms of explaining
their position,' Fitzwater told reporters.
He noted high level meetings on the trade dispute are
underway here but said, 'I don't think there's anything I can
report and I don't believe there's been any official movement.'
|
test/15172 | test/15172 |@title dow:2 jones:2 co:2 inc:2 first:2 quarter:2 shr:2 69:2 ct:4 vs:2 64:2 |@word | DOW JONES AND CO INC FIRST QUARTER SHR 69 CTS VS 64 CTS
DOW JONES AND CO INC FIRST QUARTER SHR 69 CTS VS 64 CTS
|
test/15175 | test/15175 |@title hayes:1 dana:1 inc:1 1st:1 qtr:1 net:1 |@word shr:1 30:1 ct:2 vs:3 28:1 net:1 5:1 000:3 4:1 600:1 revs:1 125:1 2:1 mln:2 123:1 9:1 note:1 52:1 pct:1 dana:1 corp:1 dcn:1 | <HAYES-DANA INC> 1ST QTR NET
Shr 30 cts vs 28 cts
Net 5,000,000 vs 4,600,000
Revs 125.2 mln vs 123.9 mln
Note: 52 pct-owned by Dana Corp <DCN>.
|
test/15179 | test/15179 |@title cocoa:1 terminal:1 deposit:1 cut:1 25:1 pct:1 icch:1 |@word basic:2 deposit:5 cocoa:3 future:1 contract:2 reduce:1 25:1 pct:1 friday:1 april:1 10:3 take:2 require:1 one:2 tonne:2 lot:2 300:1 stg:2 400:1 previously:2 spokesman:2 international:1 commodity:1 clearing:1 house:1 icch:3 say:5 spread:1 similarly:1 cut:4 150:1 200:1 look:1 market:4 fluctuation:1 period:1 week:1 add:1 stability:1 warrant:1 rate:1 decision:1 consultation:1 london:1 terminal:1 likely:1 attract:1 business:1 | COCOA TERMINAL DEPOSITS TO BE CUT 25 PCT - ICCH
The basic deposit on cocoa futures
contracts will be reduced by 25 pct as from Friday, April 10,
taking the required deposit for one 10 tonne lot to 300 stg
from 400 previously, a spokesman for the International
Commodity Clearing House (ICCH) said.
The deposit for spread contracts will be similarly cut, to
150 stg for a one 10 tonne lot from 200 previously, he said.
The ICCH had been looking at cocoa market fluctuations over
a period of weeks, he said, adding the market's basic stability
had warranted a cut in deposit rates.
The decision to cut deposits was taken by the ICCH after
consultation with the London Cocoa Terminal Market, the
spokesman said.
The cuts were likely to attract more business to the
market, he said.
|
test/15180 | test/15180 |@title electro:1 rent:1 corp:1 elrc:1 3rd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 20:1 ct:3 vs:6 32:1 net:2 1:3 358:1 000:4 2:2 476:1 revs:2 27:1 mln:4 26:1 nine:1 mth:1 68:1 05:1 dlrs:1 4:1 957:1 8:2 129:1 82:1 6:1 78:1 | ELECTRO RENT CORP <ELRC> 3RD QTR FEB 28 NET
Shr 20 cts vs 32 cts
Net 1,358,000 vs 2,476,000
Revs 27.1 mln vs 26.2 mln
Nine Mths
Shr 68 cts vs 1.05 dlrs
Net 4,957,000 vs 8,129,000
Revs 82.6 mln vs 78.8 mln
|
test/15185 | test/15185 |@title walgreen:2 co:2 2nd:2 qtr:2 shr:2 62:2 ct:4 vs:2 58:2 |@word | WALGREEN CO 2ND QTR SHR 62 CTS VS 58 CTS
WALGREEN CO 2ND QTR SHR 62 CTS VS 58 CTS
|
test/15188 | test/15188 |@title judy:2 inc:1 4th:1 qtr:1 jan:1 31:1 loss:1 |@word shr:2 loss:2 two:1 ct:4 vs:6 profit:6 nine:2 net:2 74:1 000:4 418:1 sale:2 18:1 2:1 mln:4 17:1 5:1 year:1 26:1 426:1 1:1 170:1 58:1 7:2 56:1 | JUDY'S INC <JUDY> 4TH QTR JAN 31 LOSS
Shr loss two cts vs profit nine cts
Net loss 74,000 vs profit 418,000
Sales 18.2 mln vs 17.5 mln
Year
Shr profit nine cts vs profit 26 cts
Net profit 426,000 vs profit 1,170,000
Sales 58.7 mln vs 56.7 mln
|
test/15189 | test/15189 |@title orange:1 co:1 inc:1 oj:1 2nd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 profit:4 2:6 26:2 dlrs:10 vs:10 loss:6 81:1 ct:1 net:6 9:4 785:1 000:16 3:2 422:1 revs:2 0:2 mln:5 18:1 avg:2 shrs:2 4:5 316:1 207:1 1st:1 half:4 75:1 1:1 07:1 11:1 486:1 39:1 37:1 318:1 181:1 note:1 current:2 year:2 period:1 include:4 gain:4 500:1 sale:1 orange:1 co:1 florida:1 subsidiary:1 american:1 agrnomics:1 corp:1 agr:1 pretax:2 real:1 estate:1 disposition:1 920:1 52:1 quarter:2 863:1 117:1 prior:1 tax:1 credit:1 132:1 039:1 dlre:1 051:2 dlr:1 change:1 accounting:1 | ORANGE-CO INC <OJ> 2ND QTR FEB 28 NET
Shr profit 2.26 dlrs vs loss 81 cts
Net profit 9,785,000 vs loss 3,422,000
Revs 26.0 mln vs 18.9 mln
Avg shrs 4,316,000 vs 4,207,000
1st half
Shr profit 2.75 dlrs vs loss 1.07 dlrs
Net profit 11.9 mln vs loss 4,486,000
Revs 39.0 mln vs 37.2 mln
Avg shrs 4,318,000 vs 4,181,000
NOTE: Current year net both periods includes gain 9,500,000
dlrs from sale of Orange-Co of Florida subsidiary to American
Agrnomics Corp <AGR>.
Net includes pretax real estate disposition loss 920,000
dlrs vs gain 52,000 dlrs in quarter and loss 863,000 dlrs vs
gain 117,000 dlrs in half.
Prior year net includes tax credits of 2,132,000 dlrs in
quarter and 3,039,000 dlres in half.
Current half net includes 2,051,000 dlr pretax gain
2,051,000 dlrs from change in accounting.
|
test/15190 | test/15190 |@title dow:1 jones:1 co:1 inc:1 dj:1 1st:1 qtr:1 net:1 |@word shr:1 69:1 ct:4 vs:3 64:1 net:1 66:1 719:1 000:2 61:1 773:1 rev:1 285:1 6:1 mln:4 259:1 7:1 note:1 earning:2 include:1 tax:2 gain:2 29:1 4:2 dlrs:2 30:2 share:3 versus:1 31:1 32:1 1986:2 first:1 quarter:1 per:1 reflect:1 50:1 pct:1 stock:2 dividend:1 form:1 class:1 b:1 common:1 distribution:1 june:1 | DOW JONES AND CO INC <DJ> 1ST QTR NET
Shr 69 cts vs 64 cts
Net 66,719,000 vs 61,773,000
Rev 285.6 mln vs 259.7 mln
NOTE: Earnings include after-tax gain of 29.4 mln dlrs, or
30 cts a share, versus after-tax gain of 31.4 mln dlrs, or 32
cts a share, for 1986 first quarter. Earnings per share
reflects a 50 pct stock dividend in the form of a class B
common stock distribution on June 30, 1986.
|
test/15193 | test/15193 |@title lord:2 abbett:2 co:1 mutual:1 fund:2 dividend:1 bond:1 debenture:1 |@word qtly:1 div:6 28:1 ct:12 vs:6 29:1 prior:6 pay:6 may:11 5:3 record:6 april:1 9:5 lord:5 abbett:5 u:1 government:1 securities:1 fund:2 daily:5 2:4 15:10 tax:4 free:4 income:4 national:1 series:3 6:6 7:4 new:1 york:1 texas:1 california:1 | LORD ABBETT AND CO MUTUAL FUND DIVIDENDS
LORD ABBETT BOND DEBENTURE FUND
Qtly div 28 cts vs 29 cts prior
Pay May 5
Record April 9
---
LORD ABBETT U.S. GOVERNMENT SECURITIES FUND
Daily div 2.9 cts vs 2.9 cts prior
Pay May 15
Record May 15
LORD ABBETT TAX FREE INCOME FUND NATIONAL SERIES
Daily div 6.7 cts vs 6.7 cts prior
Pay May 15
Record May 15
---
LORD ABBETT TAX FREE INCOME NEW YORK SERIES
Daily div 6.7 cts vs 6.7 cts prior
Pay May 15
Record May 15
LORD ABBETT TAX FREE INCOME TEXAS SERIES
Daily div 5.9 cts vs 5.9 cts prior
Pay May 15
Record May 15
---
LORD ABBETT CALIFORNIA TAX FREE INCOME
Daily div of 6.2 cts vs 6.2 cts prior
Pay May 15
Record May 15
|
test/15194 | test/15194 |@title heineken:1 see:1 high:1 profit:1 wide:1 penetration:1 |@word dutch:1 brewer:1 heineken:15 nv:1 say:13 hope:1 maintain:1 number:1 year:6 similar:1 earning:1 growth:2 7:2 5:3 pct:8 increase:4 net:2 profit:5 achieve:2 1986:4 despite:2 continue:1 investment:1 reorganization:1 program:1 effort:2 extend:1 world:1 penetration:1 last:2 month:1 report:1 285:1 mln:4 guilde:3 265:1 1985:1 chairman:3 freddie:1 company:5 europe:3 lead:2 beer:9 producer:1 six:2 market:8 share:1 sale:6 6:3 3:1 42:1 1:1 hectoliter:1 volume:1 due:2 mainly:1 rise:2 u:1 brand:1 amstel:1 lite:1 see:2 great:1 demand:1 account:2 25:2 total:2 turnover:1 loss:1 guilder:1 term:2 weak:1 foreign:4 currency:4 4:2 billion:1 consolidation:1 include:1 stake:2 spanish:3 brewery:2 el:1 aguila:1 51:1 2:1 new:2 venture:2 modernization:1 particularly:1 french:2 interest:2 erode:1 margin:1 still:1 plan:1 invest:1 700:1 restructuring:1 marketing:1 activity:1 start:1 yield:1 next:1 add:3 operation:2 already:1 turn:1 vast:1 rationalization:1 vice:1 gerard:1 van:3 schaik:3 decision:1 european:1 court:1 justice:1 luxembourg:1 allow:1 closed:1 west:1 german:3 big:1 offer:1 interesting:1 possibility:3 distribution:1 important:2 point:1 since:2 ruling:1 inundate:1 trader:1 seek:1 joint:1 question:1 want:1 penetrate:2 widely:1 travel:1 germans:1 seem:1 develop:1 taste:1 internal:1 structure:1 regionalized:1 board:1 member:1 hans:1 coebergh:4 responsible:1 african:1 africa:3 one:1 long:1 present:1 1932:1 majority:1 hamper:1 lack:2 hard:2 consumption:1 average:1 nine:1 liter:1 per:2 head:1 limit:2 import:3 restriction:2 risk:1 nonetheless:1 site:1 production:1 render:1 expensive:1 high:1 price:1 essential:1 ingredient:1 scientist:1 look:1 balance:1 cost:1 malt:1 heinken:1 launch:1 nigerian:1 make:1 50:1 sorghum:1 sell:1 successfully:1 urge:1 farmer:1 grow:1 traditional:1 raw:1 material:1 note:1 banana:1 palm:1 popular:1 rwanda:1 could:1 possibly:1 flavor:1 seven:2 soviet:1 finally:1 result:1 week:1 contract:1 relax:1 face:1 potential:1 bar:2 moscow:1 enjoy:1 good:1 accept:1 western:1 money:1 | HEINEKEN SEES HIGHER PROFITS, WIDER PENETRATION
Dutch brewer Heineken NV said it hoped
to maintain for a number of years a similar earnings growth to
the 7.5 pct increase in net profit achieved in 1986, despite
continuing investments in a reorganization program and efforts
to extend world penetration.
Heineken last month reported a 1986 net profit of 285 mln
guilders, after 265 mln in 1985.
Chairman Freddie Heineken said the company, Europe's
leading beer producer with six pct of market share in 1986,
said sales increased by 6.3 pct to 42.1 mln hectoliters.
The volume increase was due mainly to a rise in the U.S.,
Where the brand Amstel Lite saw great demand, and in Europe,
where sales accounted for 25.5 pct of the total.
Turnover, despite losses in guilder terms due to weaker
foreign currencies, rose by 4.4 pct, to 6.7 billion guilders.
Further consolidation of foreign companies, including the
increase of its stake in leading Spanish brewery <El Aguila
S.A.> to 51.2 pct, new ventures and modernization, particularly
in French and Spanish interests, eroded profit margins. The
company still planned to invest 700 mln guilders this year in
restructuring and marketing, Heineken said.
Heineken's Spanish activities should start yielding profit
next year, Heineken said, adding that its French operations had
already turned to profit after vast rationalization last year.
Vice Chairman Gerard van Schaik said the decision by the
European Court of Justice in Luxembourg to allow foreign beer
into the closed West German market -- Europe's biggest beer
market -- offered interesting possibilities for Heineken. 'We
have the beer, but distribution and sales is the important
point,' van Schaik said, adding that since the ruling Heineken
had been inundated by German traders seeking joint ventures.
'The question is not if we want to penetrate the German
market, but how we are to do it,' van Schaik said, adding that
while the widely traveled Germans seemed to be developing a
taste for foreign beer, the internal structure was very
regionalized.
Heineken board member Hans Coebergh, responsible for
African operations, said he saw Africa as one of the most
important beer growth markets in the long term.
He said the company, present in Africa since 1932 and with
majority stakes in six breweries and interests in 25, was
hampered by the lack of hard currencies there.
Africa, where beer consumption averages only nine liters
per head per year and sales are limited by import restrictions
and currency risks, nonetheless accounted for 6.5 pct of total
1986 sales.
On-site production is rendered expensive by the high price
of imports of essential ingredients. But Heineken scientists
have been looking at other possibilities.
To balance the costs of imported malt, Heinken launched on
the Nigerian market a new beer made of 50 pct sorghum, which
had sold successfully, Coebergh said.
Heineken is urging farmers to grow the traditional raw
materials, but Coebergh noted that banana and palm beer were
popular in Rwanda . 'This is a possibility, but we could not
possibly achieve the Heineken flavor,' Coebergh said.
Chairman Heineken said the company's seven year efforts to
penetrate the Soviet market had finally resulted this week in a
contract that relaxed some of the restrictions they faced.
But again, a lack of hard currencies limited Heineken's
market potential. Heineken now has seven bars in Moscow that
are enjoying good sales, but the bars only accept western
money.
|
test/15197 | test/15197 |@title walgreen:1 co:1 wag:1 vote:1 quarterly:1 dividend:1 |@word qtly:1 div:1 13:1 1:2 2:2 ct:2 vs:1 12:2 prior:1 qtr:1 pay:1 june:1 record:1 21:1 may:1 | WALGREEN CO <WAG> VOTES QUARTERLY DIVIDEND
Qtly div 13-1/2 cts vs 12-1/2 cts prior qtr
Pay 12 June
Record 21 May
|
test/15198 | test/15198 |@title colombia:1 business:1 ask:1 diversify:1 coffee:1 |@word colombia:2 government:1 trade:2 official:1 urge:1 business:1 community:1 aggressively:1 diversify:1 activity:1 stop:1 rely:1 heavily:1 coffee:3 samuel:1 alberto:1 yohai:1 director:1 foreign:1 institute:1 incomex:1 say:1 private:1 businessman:1 become:1 call:1 mental:1 hostage:1 traditionally:1 major:1 export:3 national:1 planning:1 department:1 forecast:1 1987:1 account:1 one:1 third:2 total:1 1:1 5:1 billion:1 dlrs:1 oil:1 energy:1 product:1 make:1 another:1 non:1 traditional:1 remainder:1 | COLOMBIA BUSINESS ASKED TO DIVERSIFY FROM COFFEE
A Colombia government trade official has
urged the business community to aggressively diversify its
activities and stop relying so heavily on coffee.
Samuel Alberto Yohai, director of the Foreign Trade
Institute, INCOMEX, said private businessmen should not become
what he called 'mental hostages' to coffee, traditionally
Colombia's major export.
The National Planning Department forecast that in 1987
coffee will account for only one-third of total exports, or
about 1.5 billion dlrs, with oil and energy products making up
another third and non-traditional exports the remainder.
|
test/15200 | test/15200 |@title turkey:1 call:1 dialogue:1 solve:1 dispute:1 |@word turkey:4 say:6 today:2 dispute:3 greece:3 include:1 right:2 continental:2 shelf:2 aegean:2 sea:1 solve:3 negotiation:2 foreign:2 ministry:2 statement:3 late:2 crisis:2 two:3 nato:1 member:1 stem:1 agreement:1 issue:3 would:2 effect:1 security:1 economy:1 country:3 basicly:1 political:1 solution:1 find:1 bilateral:1 repeatedly:1 legal:1 could:1 international:1 court:1 justice:1 approach:1 armed:1 confrontation:1 last:2 month:1 announce:1 plan:1 oil:2 exploration:1 work:1 also:1 search:1 face:1 avert:1 confine:1 research:1 territorrial:1 water:1 create:1 historic:1 opportunity:1 ambassador:1 athens:1 nazmi:1 akiman:1 due:1 meet:1 prime:2 minister:2 andreas:1 papandreou:1 greek:1 reply:1 message:2 send:1 week:1 turkish:1 turgut:1 ozal:1 content:1 disclose:1 | TURKEY CALLS FOR DIALOGUE TO SOLVE DISPUTE
Turkey said today its disputes with
Greece, including rights on the continental shelf in the Aegean
Sea, should be solved through negotiations.
A Foreign Ministry statement said the latest crisis between
the two NATO members stemmed from the continental shelf dispute
and an agreement on this issue would effect the security,
economy and other rights of both countries.
'As the issue is basicly political, a solution can only be
found by bilateral negotiations,' the statement said. Greece has
repeatedly said the issue was legal and could be solved at the
International Court of Justice.
The two countries approached armed confrontation last month
after Greece announced it planned oil exploration work in the
Aegean and Turkey said it would also search for oil.
A face-off was averted when Turkey confined its research to
territorrial waters. 'The latest crises created an historic
opportunity to solve the disputes between the two countries,'
the Foreign Ministry statement said.
Turkey's ambassador in Athens, Nazmi Akiman, was due to
meet Prime Minister Andreas Papandreou today for the Greek
reply to a message sent last week by Turkish Prime Minister
Turgut Ozal. The contents of the message were not disclosed.
|
test/15204 | test/15204 |@title frontier:1 insurance:1 frtr:1 acquisition:1 talk:1 |@word frontier:1 insurance:2 group:1 inc:3 say:1 currently:1 negotiate:1 acquire:1 business:2 medical:3 quadrangle:1 formerly:1 large:1 malpractice:2 producer:2 professional:1 liability:1 agency:1 give:1 detail:1 | FRONTIER INSURANCE <FRTR> IN ACQUISITION TALKS
Frontier Insurance Group Inc
said it is currently negotiating to acquire the business of
Medical Quadrangle Inc, formerly its largest medical
malpractice insurance producer, and the business of its other
malpractice producer, Medical Professional Liability Agency
Inc.
It gave no details.
|
test/15205 | test/15205 |@title frontier:1 insurance:1 group:1 inc:1 frtr:1 4th:1 qtr:1 net:1 |@word oper:4 shr:3 25:1 ct:8 vs:10 six:3 net:3 840:1 000:8 139:1 revs:2 8:2 290:1 4:1 743:1 avg:2 shrs:2 3:1 335:1 029:1 2:4 400:2 year:2 97:1 53:1 546:1 1:1 275:1 28:1 mln:2 18:1 5:1 635:1 665:1 note:1 exclude:1 investment:1 gain:2 four:1 loss:2 quarter:1 five:1 | FRONTIER INSURANCE GROUP INC <FRTR> 4TH QTR NET
Oper shr 25 cts vs six cts
Oper net 840,000 vs 139,000
Revs 8,290,000 vs 4,743,000
Avg shrs 3,335,029 vs 2,400,000
Year
Oper shr 97 cts vs 53 cts
Oper net 2,546,000 vs 1,275,000
Revs 28.8 mln vs 18.5 mln
Avg shrs 2,635,665 vs 2,400,000
NOTE: Net excludes investment gain four cts shr vs loss six
cts in quarter and gain five cts vs loss six cts in year.
|
test/15206 | test/15206 |@title gatt:1 official:1 meet:1 u:1 farm:1 leader:1 |@word official:2 charge:1 agricultural:1 matter:1 new:1 round:1 global:1 trade:3 talk:1 washington:1 today:2 tomorrow:2 meet:6 congressional:1 reagan:1 administration:1 aart:1 de:7 zeeuw:7 chairman:1 general:1 agreement:1 tariffs:1 negotiating:1 group:2 agriculture:5 morning:1 member:5 house:3 committee:4 source:3 say:4 express:1 concern:1 protectionism:1 high:1 farm:2 price:1 support:1 lawmaker:2 note:1 1985:1 united:1 states:1 take:1 step:1 reduce:1 loan:2 rate:2 staff:1 tell:2 lower:1 u:3 eliminate:1 subsidy:1 unilaterally:1 one:1 frustration:1 japan:1 restrictive:1 rice:1 import:1 policy:3 defend:1 dairy:1 aim:1 cut:1 surplus:1 production:1 subsidize:1 producer:1 trim:1 herd:1 later:2 senate:2 undersecretary:1 state:2 affairs:1 allen:1 wallis:1 way:1 mean:1 subcommittee:1 finance:1 visit:1 secretary:1 richard:1 lyng:1 go:1 canada:1 week:1 trip:1 north:1 america:1 part:1 attempt:1 leader:1 key:1 gatt:1 negotiate:1 hold:1 first:1 meeting:1 february:1 expect:1 may:1 | GATT OFFICIAL MEETS WITH U.S. FARM LEADERS
The official in charge of
agricultural matters in the new round of global trade talks is
in Washington today and tomorrow to meet with congressional and
Reagan administration officials.
Aart de Zeeuw, chairman of the General Agreement on Tariffs
and Trade's negotiating group on agriculture, met this morning
with members of the House Agriculture Committee.
Committee sources said De Zeeuw expressed concern over
protectionism and high farm price supports. House lawmakers
noted that in 1985 the United States took steps to reduce loan
rates, committee staff said.
'Members told him (De Zeeuw) that we lowered our (U.S.) loan
rates and can't eliminate subsidies unilaterally,' one source
said.
De Zeeuw was told of the U.S. lawmakers' frustration with
Japan's restrictive rice import policy, and members defended
the U.S. dairy policy, which aims to cut surplus production by
subsidizing producers to trim herds, sources said.
Later today De Zeeuw will meet the Senate Agriculture
members and Undersecretary of State Affairs Allen Wallis.
Tomorrow, De Zeeuw is to meet the House Ways and Means
Trade Subcommittee and the Senate Finance Committee, before
visiting Agriculture Secretary Richard Lyng.
De Zeeuw goes to Canada later this week. His trip to North
America is part of his attempt to meet farm policy leaders in
the key GATT member states.
The negotiating group on agriculture held its first meeting
in February and is expected to meet again in May.
|
test/15207 | test/15207 |@title southington:1 savings:1 bank:1 ssbb:1 1st:1 qtr:1 net:1 |@word shr:1 39:1 ct:1 vs:2 give:1 net:1 707:1 000:2 505:1 note:1 company:1 go:1 public:1 july:1 1986:1 | SOUTHINGTON SAVINGS BANK <SSBB> 1ST QTR NET
Shr 39 cts vs not given
Net 707,000 vs 505,000
NOTE: Company went public in July 1986.
|
test/15208 | test/15208 |@title caterpillar:1 inc:1 cat:1 vote:1 quarterly:1 dividend:1 |@word qtly:1 div:1 12:2 1:2 2:2 ct:2 vs:1 prior:1 qtr:1 pay:1 20:2 may:1 record:1 april:1 | CATERPILLAR INC <CAT> VOTES QUARTERLY DIVIDEND
Qtly div 12-1/2 cts vs 12-1/2 cts prior qtr
Pay 20 May
Record 20 April
|
test/15210 | test/15210 |@title corrected:1 datron:1 datr:1 agree:1 buyout:1 |@word datron:4 corp:1 say:3 agree:1 merge:1 gghf:2 inc:1 florida:1 base:1 company:3 form:1 four:2 top:1 officer:3 accord:1 term:1 propose:1 transaction:1 share:4 common:2 stock:1 exclude:1 convert:1 six:1 dlrs:1 hold:1 73:1 pct:1 total:1 896:1 000:1 outstanding:1 correct:1 name:1 first:1 paragraph:1 | CORRECTED - DATRON <DATR> AGREES TO BUYOUT
Datron Corp said it agreed to
merge with GGHF Inc, a Florida-based company formed by the four
top officers of the company.
According to terms of the proposed transaction, each share
of Datron common stock, excluding those shares owned by the
four officers, will be converted into six dlrs a share, it
said.
Datron's officers hold about 73 pct of the total 896,000
Datron common shares outstanding, it said.
(corrects company name, GGHF, in first paragraph)
|
test/15211 | test/15211 |@title walgreen:1 co:1 wag:1 2nd:1 qtr:1 feb:1 28:1 net:1 |@word shr:4 62:1 ct:8 vs:8 58:1 qtly:1 div:1 13:2 1:4 2:3 prior:2 net:2 38:1 8:1 mln:4 35:1 7:1 revs:2 18:1 billion:4 one:1 six:3 mth:3 84:1 86:1 52:2 9:1 14:1 82:1 note:1 result:1 include:1 charge:1 four:1 late:1 credit:2 five:1 investment:1 tax:1 dividend:1 payable:1 june:1 12:1 record:1 may:1 21:1 | WALGREEN CO <WAG> 2ND QTR FEB 28 NET
Shr 62 cts vs 58 cts
Qtly div 13-1/2 cts vs 13-1/2 cts prior
Net 38.8 mln vs 35.7 mln
Revs 1.18 billion vs one billion
Six mths
Shr 84 cts vs 86 cts
Net 52 mln vs 52.9 mln
Revs 2.14 billion vs 1.82 billion
NOTE: Results include charge of four cts shr for latest six
mths vs credit of five cts shr for prior six mths from
investment tax credit
Dividend payable June 12, record May 21
|
test/15212 | test/15212 |@title j:1 p:1 morgan:1 jpm:1 say:1 dlr:1 may:1 prevent:1 fed:1 easing:1 |@word relatively:1 high:2 level:1 real:2 u:2 interest:1 rate:7 suggest:1 scope:1 decline:3 money:2 market:3 federal:1 reserve:1 unlikely:1 promote:1 drop:1 long:2 dollar:3 remain:1 volatile:2 say:5 j:1 p:1 morgan:2 co:1 inc:1 chairman:1 lewis:1 preston:2 response:1 reporter:1 question:1 bank:1 annual:1 meeting:1 could:1 think:1 fed:1 go:2 encourage:1 exchange:1 hand:1 bar:1 collapse:1 see:1 much:1 recent:1 rise:3 prime:1 lending:1 purely:1 reflection:1 increase:1 whole:1 spectrum:1 reiterate:1 early:1 company:1 forecast:1 economy:1 show:1 roughly:1 2:1 5:2 three:1 pct:2 growth:1 year:1 also:1 consequence:1 oil:1 price:1 inflation:1 would:1 moderately:1 3:1 four:1 1987:1 | J.P. MORGAN<JPM> SAYS DLR MAY PREVENT FED EASING
The relatively high level of real U.S.
interest rates suggests that there is scope for further
declines in money market rates, but the Federal Reserve is
unlikely to promote such a drop as long as the dollar remains
volatile, said J.P. Morgan and Co Inc chairman Lewis Preston.
He said in response to a reporter's question after the
bank's annual meeting that money market rates could decline
further but, 'I don't think the Fed is going to encourage that
as long as the exchange markets are as volatile as they are.'
On the other hand, he said that, barring a collapse of the
dollar, he did not see rates going much higher.
He said that Morgan's recent rise in its prime lending rate
was 'purely a reflection of an increase in a whole spectrum of
rates.'
Preston reiterated earlier company forecasts that the U.S.
economy should show roughly 2.5 to three pct real growth this
year.
He also said that as a consequence of the dollar's decline
and oil price rises, inflation would rise 'moderately' to a 3.5
to four pct rate in 1987.
|
test/15213 | test/15213 |@title medtronic:1 mdt:1 see:1 15:1 pct:1 earning:1 growth:1 |@word medtronic:7 inc:1 say:13 see:2 15:3 pct:4 growth:2 sale:4 earning:3 year:3 end:2 april:2 30:2 1988:6 analyst:2 meet:1 company:11 1987:2 earn:2 73:1 mln:4 dlrs:7 5:3 35:1 share:7 500:1 ago:1 period:1 53:1 4:1 3:1 65:1 402:1 8:1 winston:1 wallin:7 chairman:1 improve:1 market:6 fiscal:6 cardiac:1 pacemaker:9 expand:1 cardiovascular:1 therapeutic:2 product:4 line:1 caution:1 quickly:1 change:1 per:1 estimate:1 heavy:1 marketing:1 expense:1 intend:3 reinvest:2 business:2 dividend:2 shareholder:1 well:1 grow:1 rather:1 repurchase:1 total:1 worldwide:2 increase:1 42:1 40:1 cardiovascualr:1 include:2 valve:1 catheter:1 laser:1 value:1 2:1 billion:1 1990:1 double:1 1995:1 objective:1 get:2 hold:1 new:2 start:1 build:1 beg:1 borrow:1 steal:1 past:1 plague:1 number:1 problem:3 lead:2 recall:1 regulator:1 also:3 criticize:1 industry:2 cite:1 quality:2 needless:1 overprescription:1 knowledge:1 major:2 establish:1 leader:1 glen:1 nelson:1 executive:1 vice:1 president:1 diversify:1 internally:1 acquisition:3 area:1 expertise:1 drug:1 delivery:1 system:1 dilution:2 hope:1 safety:1 provision:1 win:1 virtual:1 exclusivity:1 rate:2 responsive:2 activitrax:1 first:1 single:1 chamber:1 vary:1 heartrate:1 response:1 physical:1 activity:1 siemens:1 ag:1 west:1 german:1 develop:1 | MEDTRONIC <MDT> SEES 15 PCT EARNINGS GROWTH
Medtronic Inc said it sees 15 pct
growth in sales and earnings for the year ending April 30,
1988.
At an analysts meeting here the company said that for the
year ending April 30, 1987 it will earn about 73 mln dlrs, or
about 5.15-5.35 dlrs a share on sales of about 500 mln dlrs.
In the year ago period, the company earned 53.4 mln dlrs,
or 3.65 dlrs a share, on sales of 402.8 mln dlrs.
Winston Wallin, Medtronic chairman, said the company will
improve market share in fiscal 1988 in cardiac pacemakers and
expand its cardiovascular therapeutic product line.
Wallin cautioned analysts not to quickly change their per
share estimates for the company as he said Medtronic will have
heavy sales and marketing expenses in fiscal 1988.
He said the company intends to reinvest its earnings in its
businesses and not in its dividends. 'Shareholders are better
off if we grow the business rather than reinvest in dividends
or share repurchases,' he said.
Wallin said he sees Medtronic's share of the total
worldwide pacemaker market increasing to 42 pct in fiscal 1988,
from 40 pct in fiscal 1987.
He said the worldwide market for cardiovascualr therapeutic
products, which includes pacemakers, valves, catheters and
lasers, will be valued at about 2.5 billion dlrs 1990 and will
double that by 1995.
Wallin said, 'Our objective is to get a hold of new
products and start building market share if we have to beg,
borrow or steal to get into new markets.'
In the past, Medtronic's pacemakers have been plagued with
a number of problems leading to product recalls. Regulators
also have criticized the industry, citing quality problems and
a needless overprescription of pacemakers.
'We have no knowledge of any major problems in our
pacemakers or leads,' Wallin said. 'We intend to re-establish
our company as the quality leader in the industry.'
Glen Nelson, executive vice president for Medtronics, said
the company intends to diversify internally and through
acquisitions of companies in areas of Medtronic's expertise,
such as drug delivery systems.
Wallin said the 15 pct earnings growth for fiscal 1988 does
not include dilutions from acquisitions. 'We hope to have some
safety provisions so that we won't have any major dilutions
from an acquisition.'
Wallin also said the company will have virtual exclusivity
in rate responsive pacemakers for all of fiscal 1988.
The company markets Activitrax, the first single chamber
pacemaker that varies heartrate in response to physical
activity.
Siemens AG, a West German company, is also developing a
rate responsive pacemaker.
|
test/15217 | test/15217 |@title spie:1 batignolle:1 could:1 increase:1 comstock:1 hold:1 |@word construction:1 group:1 spie:4 batignolle:4 negotiate:2 increase:1 holding:1 u:1 engineering:1 electrical:1 installation:1 firm:1 comstock:4 subsidiary:1 schneider:1 sa:1 schn:1 pa:1 say:2 statement:1 invest:1 20:2 mln:1 dlrs:1 form:1 bond:2 convertible:1 share:1 hold:1 pct:1 stake:1 since:1 february:1 1986:1 spokesman:1 convert:1 new:1 could:1 open:1 way:1 french:1 company:1 take:1 control:1 give:1 detail:1 | SPIE BATIGNOLLES COULD INCREASE COMSTOCK HOLDING
Construction group <Spie Batignolles> is
negotiating to increase its holding in U.S. Engineering and
electrical installations firm <Comstock>.
Spie Batignolles, a subsidiary of Schneider SA <SCHN.PA>,
said in a statement it was negotiating to invest 20 mln dlrs in
Comstock in the form of bonds convertible into shares.
Spie Batignolles has held a 20 pct stake in Comstock since
February 1986. A spokesman said if Spie Batignolles converted
all the new bonds, it could open the way for the French company
to take control of Comstock but he gave no other details.
|
test/15219 | test/15219 |@title talk:1 continue:1 tin:1 agreement:1 extension:1 |@word discussion:1 possible:2 extension:3 sixth:1 international:2 tin:2 agreement:1 ita:2 begin:1 quarterly:1 session:3 council:4 itc:1 still:1 wait:1 decision:2 various:1 member:3 state:1 number:1 producer:1 government:1 particular:1 decide:2 final:1 position:2 whether:1 extend:1 two:1 year:1 wind:1 expire:1 june:1 30:1 accord:1 delegate:3 source:1 earlier:1 today:2 european:1 community:1 ec:3 back:1 exception:1 britain:1 undertake:1 communicate:1 partner:1 later:1 say:2 could:1 friday:1 country:1 declare:1 full:1 start:2 shortly:1 1500:1 gmt:2 scheduled:1 1330:1 delay:1 coordination:1 meet:1 reconvene:1 0930:1 tomorrow:1 although:1 morning:1 likely:1 take:1 minor:1 technical:1 matter:1 main:1 issue:1 probably:1 discuss:1 afternoon:1 | TALKS CONTINUE ON TIN AGREEMENT EXTENSION
Discussions on the possible extension of
the sixth International Tin Agreement (ITA) began at the
quarterly session of the International Tin Council (ITC) but
the Council is still waiting for decisions from various member
states.
A number of producer governments in particular have not
decided their final position on whether the ITA should be
extended for up to two years or wound down after it expires on
June 30, according to delegate sources.
Earlier today European Community (EC) members decided to
back an extension, with the exception of Britain, which
undertook to communicate its decision to its EC partners later.
Delegates said it could be Friday before all the member
countries declare their positions on the possible extension.
Today's full Council session started shortly before 1500 GMT
after the scheduled 1330 start was delayed by an EC
coordination meeting.
The council reconvenes at 0930 GMT tomorrow, although
delegates said the morning is likely to be taken up with minor
technical matters and the main issue will probably not be
discussed before the afternoon session.
|
test/15220 | test/15220 |@title pakistan:1 cotton:1 crop:1 see:1 record:1 7:1 6:1 mln:1 bale:1 |@word pakistan:3 likely:1 produce:1 record:3 7:4 6:2 mln:4 bale:4 375:1 lb:1 cotton:3 current:1 1986:1 87:1 crop:2 exceed:1 target:2 2:2 food:1 agriculture:1 minister:1 mohammad:1 ibrahim:1 baluch:2 say:3 tell:1 central:1 committee:1 meeting:1 present:1 third:1 consecutive:1 poroduction:1 set:2 year:2 momentum:1 would:1 accelerate:1 future:1 official:1 app:1 news:1 agency:1 report:1 indication:1 attain:1 production:2 compare:1 1985:1 86:1 also:1 represent:1 earlier:1 authority:1 | PAKISTAN COTTON CROP SEEN RECORD 7.6 MLN BALES
Pakistan is likely to produce a record
7.6 mln bales (375 lbs each) of cotton from the current 1986/87
crop, exceeding a target of 7.2 mln bales, Food and Agriculture
Minister Mohammad Ibrahim Baluch said.
He told a Pakistan Central Cotton Committee meeting here
the present was the third consecutive poroduction
record-setting year and said the momentum would be accelerated
in the future, the official APP news agency reported.
Baluch said indications were that Pakistan is to attain a
record cotton production of 7.6 mln bales, compared to the
1985/86 crop of 7.2 mln bales which also represented the target
earlier set by authorities for this year's production.
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