text
stringlengths 0
9.69k
| target
stringlengths 0
137
|
|---|---|
Finance ministers from major industrial nations should hold a special meeting to deal with the U.S. Dollars sharp decline Helmut Geiger president of the West German savings bank association said. Geiger told Reuters: Finance ministers should meet soon to take confidence-building measures to limit the damage caused by the dollars fall. Separately Geiger told Bild newspaper in an interview released ahead of publication on Tuesday that the lower dollar which had been artificially talked down by U.S. officials would damage West German exports and cost jobs. Reuter | GERMAN BANKER CALLS FOR SPECIAL MONETARY MEETING |
First Boston Inc said it is conducting a strategic review of its operations as part of a general policy to periodically evaluate its business plans. The company said it is too early to predict the outcome of the review although it does not expect radical changes in its organization. Salomon Inc <SB> last week completed a strategic review that resulted in substantial layoffs. Other brokerage firms are either engaged in reviews or have made major personnel cutbacks. Reuter | FIRST BOSTON <FBC> STRATEGIC REVIEW IS UNDERWAY |
NYSE TRADES MORE THAN 500 MLN SHARES IN RECORD VOLUME |
|
Qtly div 20 cts vs 20 cts prior Pay January Seven Record December 17 Reuter | FEDERAL SIGNAL CORP <FSS> REG QTLY DIV |
Elias Zinn chairman and chief executive of Entertainment Marketing Inc said he planned to personally purchase up to 500000 shares of Entertaiment Marketing common stock from time to time in the open market. Zinn said his purchases would be subject to availability and acceptable price levels. Reuter | ENTERTAINMENT MARKETING <EM> HEAD TO BUY SHARES |
Shr 25 cts Net 3081000 vs 2063000 Nine months Shr 86 cts Net 10.5 mln vs 6966000 Assets 1.43 billion vs 1.30 billion Deposits 912.5 mln vs 875.8 mln NOTE: Company converted to a stock savings bank on Aug 13 1986. 1986 results include operations of Realtech Realtors which was acquired in 1986. 1987 results include operations of Burgdorff Realtors acquired in December 1986; Cornerstone Mortgage Co acquired in July 1987; Centerbank Mortgage Co acquired in July 1987; and Center Capital Corp formed in August 1987. Reuter | THE BANKING CENTER <TBCX.O> 3RD QTR NET |
Roto-Rooter Inc said it expects fourth quarter profits to exceed the 22 cts a share reported for the final quarter of 1986 and the 23 cts earned in 1987s third quarter. It reported the third quarter profit was up pct from the 20 cts a share earned during the quarter in 1986. Nine month profits were up 23 pct to 64 cts a share from 52 cts last year. Reuter | ROTO-ROOTER <ROTO.O> SEES IMPROVED 4TH QTR NET |
CalMat Co said it filed suit in Los Angeles Superior Court against Industrial Equity (Pacific) Ltd against certain of its affiliates and against Ronald Langley president of Industrial Equitys North American operations. The company said its sut charges that Langley missapropriated material non-public information acquired in his capacity as a CalMat director and used the information for the benefit of Industrial Equity. According to its more recent amendment to its Schedule 13D Industrial Equity owned about 19.17 pct of CalMats stock at October 14 CalMat said. It said Industrial has also stated that it intends to pursue a possible business combination in the near future. Reuter | CALMAT <CZM> SUES INDUSTRIAL EQUITY |
President Reagan said the Commerce Department should be vigilant in preventing the flow of strategic technology from reaching the the Soviet Union and other communist countries. He was speaking at the swearing in of C. William Verity as Secretary of the Commerce Department. Verity said the U.S. should make certain that militarily sensitive high technology does not wind up in communist nations. But he also said the U.S. must reduce the list of products of a nontechnological nature thereby allowing manufacturers to increase exports and jobs. Reuter | REAGAN CALLS FOR VIGILANCE ON CERTAIN EXPORTS |
Shr 36 cts vs 27 cts Net 4538000 vs 3160000 Sales 41.8 mln vs 32.8 mln Avg shrs 12.6 mln vs 11.9 mln Reuter | WATTS INDUSTRIES INC <WATTA.O> 1ST QTR SEPT 27 |
Whirlpool Corp said it named David Whitwam to the additional position of chairman effective December One replacing Jack Sparks who retires November 30. It said Whitwam was elected president and chief executive officer effective July One. Sparks will continue to serve on Whirlpools board of directors as chairman of the finance committee. Reuter | WHIRLPOOL <WHR> NAMES NEW CHAIRMAN |
Oper shr profit 13 cts vs nil Oper net profit 612806 vs profit 2363 Sales 8317933 vs 2823243 Nine mths Oper shr profit 32 cts vs loss four cts Oper net profit 1464338 vs loss 161315 Sales 20.3 mln vs 8241463 NOTE: 1987 earnings exclude gains from utilization of tax loss carryforwards of 321980 dlrs or seven cts a share in the quarter and 772285 dlrs or 17 cts a share for the nine months Reuter | MONITERM CORP <MTRM.O> 3RD QTR OPER NET |
Seeq Technology Corp and National Semiconductor Corp said they signed a four-year exclusive technology licensing and manufacturing agreement. The agreement allows the two companies to share technology and marketing rights to Seeqs 512-kilobit and one-megabit semiconductors and for National Semiconductors 256-Kb FLASH EEPROMs the companies said. Financial terms of the arrangement were not disclosed. Reuter | SEEQ <SEEQD.O>, NATIONAL SEMI <NSM> IN ACCORD |
Shr 1.32 dlrs vs 1.59 dlrs Net 1217649 vs 1471824 Total income 1896018 vs 2278642 Nine mths Shr 4.92 dlrs vs 5.38 dlrs Net 4553380 vs 4979626 Total income 6918266 vs 8134313 Reuter | ERIE LACKAWANNA INC <ERIE.O> 3RD QTR NET |
Shr 44 cts vs 30 cts Net 4057000 vs 2716000 Sales 49.5 mln vs 29.6 mln Six Mths Shr six cts vs 55 cts Net 518000 vs 5167000 Sales 89.7 mln vs 54.9 mln Reuter | QUANTUM CORP <QNTM.O> 2ND QTR SEPT 27 NET |
Shr five cts vs seven cts Net 64652 vs 96157 Sales 1205321 vs 1499591 NOTE: Backlog three mln dlrs vs 2600000 as of June 30 1987. Reuter | TERMIFLEX CORP <TFLX.O> 1ST QTR SEPT 30 NET |
Durakon Industries Inc said it has entered into a definitive agreement to acquire DFM Corp a maker of bug and gravel protective shields for trucks and cars for an undisclosed amount of cash and debentures retroactive to September One. Reuter | DURAKON <DRKN.O> TO MAKE ACQUISITION |
Atlantis Group Inc said it bought 100000 shares of Charter-Crellin Inc common stock or 6.3 pct of the total outstanding and may seek control in a negotiated transaction. In a filing with the Securities and Exchange Commission Atlantis said it has informally discussed a business combination with Charter-Crellin management. But the company said it has not held negotiations with Charter-Crellin and does not intend to initiate further discussions. Pending development of specific proposals Atlantis said it will continue to purchase additional Charter-Crellin shares in private or open market transactions depending on a range of factors including the market price of the stock. Atlantis said it bought its Charter-Crellin common stock in open market transactions between September 22 and October 7 at 14.91 dlrs to 15.62 dlrs a share or for a total of about 1.51 mln dlrs. Reuter | ATLANTIS <AGH> MAY BID FOR CHARTER-CRELLIN<CRTR.O> |
Allwaste Inc said it has agreed in principle to acquire a privately-held firm that performs interior cleaning services for tank-trailers for 1300000 common shares. It said the firm which it did not name earned about 1500000 dlrs pretax for the first nine mons of 1987. The company said closing is expected by October 31. Reuter | ALLWASTE <ALWS.O> TO MAKE ACQUISITION |
Shr 18 cts vs 27 cts Net 444387 vs 676593 Revs 549437 vs 764901 Nine mths Shr 67 cts vs 81 cts Net 1690670 vs 2031937 Revs 1986938 vs 2302278 NOTE: Full name is Travelers Real Estate Investment Trust Reuter | TRAVELERS REAL ESTATE <TRAT.O> 3RD QTR NET |
Safeguard Health Enterprises Inc said its board authorized management to step up its stock repurchase program by doubling the repurchase ceiling to 1.6 mln shares. The company also said it has already purchased 691000 shares through September 30 under the previous authorization to buy 800000 shares or 10 pct of the stock then outstanding. Reuter | SAFEGUARD <SFGD.O> TO BUY BACK MORE SHARES |
Shr 40 cts vs 33 cts Net 32.6 mln vs 26.7 mln Revs 406.5 mln vs 370.1 mln Nine months Shr 1.44 dlrs vs 1.20 dls Net 117.8 mln vs 97.5 mln Revs 1.2 billion vs 1.1 billion Reuter | NEW YORK TIMES CO <NYT> 3RD QTR NET |
Shr 11 cts vs five cts Net 806000 vs 384000 Revs 18.0 mln vs 15.6 mln Nine Mths Shr 28 cts vs 17 cts Net 2105000 vs 1320000 Revs 51.9 mln vs 46.1 mln Note: Full name Safeguard Health Enterprises Inc. Reuter | SAFEGUARD HEALTH <SFGD.O> 3RD QTR NET |
Henley Group Inc said it ended talks with Sante Fe Southern Pacific Corp concerning the possible acquisition of Sante Fes Southern Pacific Transportation Co subsidiary. The company also said it is reviewing its investment in Santa Fe Southern Pacific in light of Sante Fes announcement that it recieved several bids ranging from 750 mln dlrs to more than one billion dlrs for its Southern Pafific Transportation subsidiary. Henley said it held discussions with Sante Fe concerning the acquisition by Henley of Bankers Leasing and Financial Corp and certain Sante Fe transportation and real estate assets. Henley said it began talks with Sante Fe after it announced its restructuring program in August 1987. As previously disclosed Henley made necessary filings under the Hart-Scott-Rodino Antitrust Improvement Acts to permit Henley to increase its investment in Sante Fe to 24.9 pct of the outstanding common stock from 5.03 pct. Henley said that depending on prevailing conditions including price and availability of Sante Fe stock substantial developments affecting Sante Fe other investment and business opportunities available to Henley Henley may additional Sante Fe shares or sell all or part of its investment in Sante Fe. Reuter | HENLEY <HENG.O> ENDS TALKS WITH SANTE FE |
Shr loss 39 cts vs profit 44 cts Net loss 2169000 vs profit 2417000 Nine Mths Shr profit 56 cts vs profit 1.68 dlrs Net profit 3111000 vs profit 9317000 Note: Full name Mercury Savings and Loan Association Reuter | MERCURY SAVINGS AND LOAN <MSL> 3RD QTR LOSS |
Carmike Cinemas Inc said it has opened a six-screen theter called Carmike Six in Milledgeville Ga. Reuter | CARMIKE <CMIKA.O> OPENS SIX-SCREEN THEATER |
Shr 45 cts vs 36 cts Net 2554000 vs 1954000 Revs 44.4 mln vs 32.5 mln Nine mths Shr 1.00 dlrs vs 75 cts Net 5461000 vs 3756000 Revs 109.5 mln vs 89.9 mln Reuter | BURNHAM SERVICE CORP <BSCO.O> 3RD QTR NET |
Texas American Bancshares Inc said it agreed to sell its Texas American Bank/Levelland unit to <First American Bancorp Inc> for about 12 mln dlrs in cash. Texas American said regulatory approval ofthe transaction is expected in December and the sale will close shortly thereafter. Once the sale is completed the units name will change to First American Bank of Texas. The unit reported total assets of 196.7 mln dlrs on Juen 30 1987. Reuter | TEXAS AMERICAN BANCSHARES <TXA> TO SELL UNIT |
Supermarkets General Corp said it agreed to sell 11 super drug stores to <F and M Distributors>. The nine existing and two unopened stores are located in Maryland Virginia and upstate New York and are operated under the Pathmark Super Drug trade name the company said. Terms of the transaction were not disclosed. The nine existing stores generated approximately 34.8 mln dlrs of Supermarkets Generals total sales of 2.9 billion during the six-month period ended Aug One 1987. F and M Distributors operates 42 discount drug stores in Michigan Ohio Illinois Indiana and Wisconsin. Reuter | SUPERMARKETS GENERAL <SGL> SELLS 11 DRUG STORES |
Travelers Real Estate Investment Trust Qtly div 17 cts vs 23 cts in prior qtr Payable November 25 Record October 30 It said the lower dividend reflects the reduction in cash flow from a mortgage secured by a motel in Covington La. The trust said an appraisal is being made of the Covington property to determine whether an increase in loss reserve will be required at year end. Travelers REIT said its investment adviser Keystone Realty Advisers has committed to lend the trust up to 500000 dlrs for a term of two years to cover past due payables and capital improvements on the Covington motel. Keystone Realty is an affiliate of the Keystone Group a Traverlers Corp <TIC> subsidiary. Reuter | TRAVELERS REAL ESTATE <TRAT.O> PAYOUT CUT |
Shr 31 cts vs nine cts Net 1345000 vs 368000 Revs 31.9 mln vs 26.4 mln Nine mths Shr 91 cts vs 40 cts Net 3890000 vs 3556000 Revs 89.3 mln vs 71.7 mln NOTE: 1986 qtr and nine mths include loss 831000 dlrs or 19 cts per share and loss 1872000 dlrs or 44 cts per share respectively from discontinued operations. Reuter | ERC INTERNATIONAL INC <ERC> 3RD QTR NET |
King World Productions Inc said its syndicated television series The Oprah Winfrey Show has been extended through the 1989-90 broadcast season. It said six of the top 10 markets have renewed the series through the end of the decade. Reuter | KING WORLD <KWP> SAYS SHOW EXTENDED |
Shr 44 cts vs 71 cts Net 14.8 mln vs 21.1 mln Revs 628.6 mln vs 605.6 mln Avg shrs 30743000 vs 26969000 Nine mths Shr 2.01 dlrs vs 1.93 dlrs Net 65.0 mln vs 57.4 mln Revs 1.89 billion vs 1.81 billion Avg shrs 30782000 vs 26619000 Reuter | PAINEWEBBER GROUP INC <PWG> 3RD QTR NET |
CANADA JUNE BUDGET DEFICIT 2.66 BILLION DLRS VS YEAR AGO 2.80 BILLION DLRS - OFFICIAL |
|
Countrywide Credit Industries Inc said it expects fiscal third quarter earnings of 20 or 21 cents per fully diluted share based on 18 mln shares outstanding. The company posted net income of 31 cents per fully diluted share in the previous third quarter ended November 30 last year based on 12 mln shares outstanding. Angelo Mozilo vice chairman and executive vice president also told security analysts that that company should have a total loan servicing portfolio of 11 billion or 12 billion dlrs by the end of the current fiscal year in February 1988. Countrywide Credit a financial service company primarily involved in mortgage banking reported 4.5 billion dlrs in its loan servicing portfolio for the last fiscal year. In addition Mozilo said the company was continuing to reduce expenses by one mln dlrs a month and should bring total costs down by three mln dlrs at the end of the quarter. He said about 55 pct of the cost cuts were in personnel and that the company had reduced the number of its offices nationwide by 11 in recent months. Reuter | COUNTRYWIDE <CCR> SEES 3RD QTR NET OF 20 CTS |
 VENEZUELA SAYS OPEC OIL OUTPUT 0VER 18 MLN BPD CARACAS Oct 19 - The current OPEC oil production is above 18 mln barrels per day (bpd) and this level threatens the precarious equilibrium of the of oil market Venezuelan Energy and Mines Minister Arturo Hernandez Grisanti said on Monday. He told reporters three or four countries out of OPECs 13 members were mainly responsible for the overproduction but declined to identify them. OPECs production ceiling for the second half of 1987 is 16.6 mln bpd. The Venezuelan minister said OPECs production reached a peak this year when it went over 19 mln bpd in August. Hernandez Grisanti together with the oil ministers of Nigeria and Indonesia met the heads of state of six Mideast Gulf countries earlier this month to urge OPEC members to comply with assigned production quotas. He said some of the countries which were complying as Venezuela Indonesia Libya Algeria Ecuador Saudi Arabia and Iran. Hernandez declined to say whether the three or four countries he said were overproducing bordered the Mideast Gulf. REUTER  | |
ATLANTIS GROUP TELLS SEC IT SEEKS NEGOTIATED PURCHASE OF CHARTER-CRELLIN |
|
Dynascan Corp said it completed the sale of its industrial electronic products group and expects to recognize about a 3.0 mln dlr pretax gain on the transaction in the fourth quarter. It said the group was sold October 15 for 13.5 mln dlrs to Maxtec International Corp a privately held company created by the companys management team. It said the purchase price was 12 mln dlrs in cash and 1.5 mln dlrs in five-year notes plus warrants to buy 7.0 pct of the stock of Maxtec. Dynascan said the group was projected to provide about 12 pct of its consolidated sales in 1987. Reuter | DYNASCAN <DYNA.O> COMPLETES MANAGEMENT BUYOUT |
HENLEY GROUP REVIEWING INVESTMENT IN SANTA FE SOUTHERN PACIFIC |
|
Qtly div 8-1/2 cts vs 8-1/2 cts prior Pay Nov 13 Record Oct 30 Reuter | PALL CORP <PLL> SETS QUARTERLY |
HENLEY GROUP SAID IT ENDED TALKS ON BUYING SOUTHERN PACIFIC FROM SANTA FE SOUTHERN |
|
PAINEWEBBER GROUP INC 3RD QTR SHARE 44 CTS VS 71 CTS |
|
Spanish property firm <Renta Inmobiliaria SA> is negotiating to buy the property assets of U.S. media company Cannon Group Inc <CAN> Rentas finance director Jose Luis Sanchez said. Sanchez told Reuters that Rentas chairman Juan Antonio Robles was currently in the U.S. to negotiate the deal but declined to give other details. Interpart a Luxembourg-based holding company chaired by Italian financier Giancarlo Paretti payed around 12.2 billion pesetas in July to acquire a 63.5 pct stake in Renta Inmobiliaria. The Spanish daily newspaper El Pais said the Cannon property assets sought by Renta included the Elstree film studios in Britain and a chain of movie-theaters in Europe and the U.S. Reuter | RENTA INMOBILIARIA SEEKS CANNON GROUP <CAN> ASSETS |
Stop and Shop Cos Inc said its board has authorized the repurchase of up to five pct of its common shares from time to time at prevailing market prices. Reuter | STOP AND SHOP <SHP> TO REPURCHASE SHARES |
Citgo Petroleum Corp a subsidiary of Southland Corp said it raised the contract price it will pay for all grades of crude oil by 50 cts a barrel effective Oct 16 The increase brings Citgos postings for the West Texas Intermediate and West Texas Sour grades to 19.00 dlrs/barrel while Light Louisiana SWeet is now priced at 19.35 dlrs. Citgo last changed it crude oil postings on Sept 9. Reuter | SOUTHLAND <SLC> UNIT RAISES CRUDE OIL PRICES |
NEW YORK TIMES CO 3RD QTR SHR 40 CTS VS 33 CTS |
|
Thermascan Inc said the U.S. Food and Drug Administration has approved clinical trials of a new advanced AIDS confirmation test developed by the company. Thermascan said that about 10000 trials will be taken on the the new test called Fluorognost in the next three months through blood banks hospitals and health centers as well as by individual physicians. The trials will be conducted in New York at the Beth Israel Medical Centre the Sacremento Medical foundation Blood Center the Karolinska Institute Stockholm and the Institute of Hygiene at the University of Innspruck. Reuter | <THERMASCAN INC> RECEIVES FDA APPROVAL ON DRUG |
Gottschalks Inc said its board authorized management to purchase up to 300000 of the companys outstanding shares or about 3.5 pct of the stock outstanding because the company believes its shares are currently undervalued. It said the purchases will be made from time to time on the open market. Reuter | GOTTSCHALKS <GOT> TO BUY BACK STOCK |
A shareholder group including Far Hills N.J. attorney Natalie Koether said it reduced its stake in CCX Inc common stock to 10000 shares or less than one pct of the companys common stock outstanding from a previous stake of about ten pct. In a filing with the Securities and Exchange Commission the group said it sold 380000 CCX common shares on October 15 at four dlrs a share. The group gave no reason for the sales. Reuter | GROUP SELLS MOST OF STAKE IN CCX INC <CCX> |
Leisure and Technology In is raising 40 mln dlrs through an offering of notes due 1999 said sole manager Merrill Lynch Capital Markets. The notes have a 15-3/4 pct coupon and were priced at par. Non-callable for three years and non-refundable for five years the issue is rated B-2 by Moodys Investors Service Inc and B by Standard and Poors Corp. Reuter | LEISURE AND TECHNOLOGY <LVX> SELLS NOTES |
Orion Capital Corp said it acquired 163000 shares of Twin Disc Inc common stock or 5.2 pct of the companys common stock outstanding. In a filing with the Securities and Exchange Commission Orion Capital said the stock represents a favorable investment opportunity at current market prices. In open market transactions between August 21 and October 16 an Orion Capital subsidiary bought 56200 Twin Disc common shares at 21.06 dlrs to 22.43 dlrs a share. The entire 5.2 pct stake was purchased at a cost of 3.2 mln dlrs Orion Capital told the SEC. Reuter | ORION <OC> HAS 5.2 PCT TWIN DISC <TDI> STAKE |
Mobil Corps Mobile Chemical Co said it is expanding its plastic grocery sack production by 20 pct with two new manufacturing lines at its Temple Texas plant. Mobil said the new lines will begin operation next year. A spokesman said no information on cost or capacity of the equipment is available. Reuter | MOBIL <MOB> RAISES PLASTIC GROCERY BAG CAPACITY |
Quantum Corp said it agreed to settle a suit which charged NEC Corp and its NEC Information Systems Inc subsidiary with infringing on a Quantum patent for a disk drive architecture. The company said the settlement agreement calls for NEC and NEC Information to pay a total of 2975000 dlrs. It said the arrangement follows a recent court order that granted Quantums motion for summary judgment and ruled that NEC infringed on the Quantum patent. Reuter | QUANTUM <QNTM.O> SETTLES SUIT WITH NEC |
Venezuelan Energy Minister Arturo Hernandez Grisanti said he foresaw market stability in the price of crude despite growing tension in the Gulf augmented by the U.S. military attack on an Iranian oil platform. He told a news conference the market continues to be stable despite all the military action in the Gulf. Reuter | VENEZUELA SEES OIL STABILITY DESPITE GULF ATTACK |
Net 13185000 vs 6715000 Nine mths Net 26.2 mln vs 15.3 mln NOTE: Company is owned by a consortium of European banks. Reuter | <EUROPEAN AMERICAN BANCORP> 3RD QTR NET |
Northeast Savings F.A. said its board adopted a shareholder rights plan designed to protect the company from coercive takeover tactics and bids not fair to all sharholders. Under the plan the board declared a dividend of one share purchase right for each of the Northeast common shares held of record as of November two the company said. Initially the rights are not exerciseable rights certificates are not distributed and the rights automatically trade with Northeasts shares the company said. However 20 days following the acquisition of 20 pct or more of Northeasts common shares shares or 20 days following the commencement of a tender offer for 30 pct or more of Northeasts shares the rights will become exerciseable and separate rights certificates will be distributed the company said. The rights will entitle holders of Northeasts common shares to purchase additional shares at an exercise price of 60 dlrs a share the company said. The company said that in the event of certain triggering events described in the rights plan holders of the rights other than an acquiring person will be entitled to acquire Northeasts common shares having a market value of twice the then-current exercise price of the rights. Also in the event Northeast enters into certain business combination transactions holders of the rights will be provided a right to acquire equity securities of the acquiring entity having a market value of twice the then-current exercise price of the rights the company said. Northeast said it will be entitled to redeem the rights at one cent per right until the occurence of certain events. Reuter | NORTHEAST SAVINGS <NSB> ADOPTS RIGHTS PLAN |
United States Oil Co said Dr. V. di Guevara Suardo Fabbri was appointed president and chief exeuctive effective October 31 replacing William Rueckert who will resign on that date. Rueckert told Reuters he resigned to puruse other business activities. Last November Fabbri bought a controlling interest in the company and has since brought in his own management. The company said that three new directors have been elected and that one present director resigned effective October 16. Reuter | U.S. OIL <USOC.O> HAS NEW MANAGEMENT |
The U.S. is drafting options including possible trade retaliation against Argentina in a dispute over the differential between soybean and product taxes which Buenos Aires levies on exports. The drafting of retaliation options follows the failure of high-level talks earlier this month to resolve a case filed by the U.S. National Soybean Processors Association U.S. officials said. The NSPA charged that Argentinas differential export taxes implicitly subsidize soyproduct exports in competition with the U.S. Our only option is some sort of retaliation to restrict (Argentine) access to our market said one U.S. source. The U.S. shelved the NSPA case earlier this year after Trade Representative Clayton Yeutter said Argentina agreed to end the differential. But when Argentina announced export taxes for the 1987/88 year in July the differential was narrowed only one pct. Deputy trade representative Michael Smith met Agriculture minister Ernesto Figuerras and Economy minister Juan Sourroille on September 29 and the Argentine officials said they could not narrow the differential further for 1987/88. As a result of the impasse the U.S. is considering restrictions on imports of items such as Argentine corned beef and finished leather the U.S. sources said. A decision on reprisals is likely to be made by the Reagan administration soon they said. Reuter | U.S. DRAFTS SANCTIONS IN ARGENTINA SOY CASE |
Shr 17 cts vs 13 cts Net 2.1 mln vs 1.03 mln Revs 15.6 mln vs 12 mln Nine mths Shr 58 cts vs 37 cts Net 6.9 mln vs 3.7 mln Revs 56.2 mln vs 27.5 mln Avg shrs 11.9 mln vs 10.0 mln Reuter | KAUFEL GROUP LTD (KFL.TO) 4TH QTR AUG 31 NET |
 NATIONAL GUARDIAN <NATG.O> ACQUIRES ALARM FIRM GREENWICH Conn. National Guardian Corp said it acquired Pacific Fire Extinguisher Co which specializes in installation of fire and burglar alarms. The operations acquired in the transaction have total revenues in excess of 2.3 mln dlrs the company said. In a separate announcement the company said it expects to record revenues of approximately 150 mln dlrs for 1987. For 1986 the company had revenues of 98.3 mln dlrs. National Guardians revenues for the first six months of 1987 were approximately 72 mln dlrs compared to about 42 mln dlrs the year-ago period. Reuter  | |
Rexon Inc said its board authorized management to buy back up to 15 mln dlrs worth of the companys common shares because the company believes that the stock is an attractive investment at this time. The stock would be used to offset the potentially dilutive effects of options exercises and of other shares which might be issued in the future Rexon said. Reuter | REXON <REXN.O> TO BUY BACK STOCK |
Qtly div 17 cts vs 17 cts prior Pay Dec 10 Record Nov 15 Reuter | MAGNA GROUP INC <MAGI.O> SETS PAYOUT |
Qtly div 11 cts vs 11 cts prior Pay Jan Six Record Dec 16 Reuter | WEIS MARKETS INC <WMK> SETS PAYOUT |
Qtly div 57-1/2 cts vs 57-1/2 cts prior Pay Nov 15 Record Oct 30 Reuter | EASTERN UTILITIES ASSOCIATES <EUA> SETS PAYOUT |
Qtly div 17 cts vs 17 cts prior Pay Jan 15 Record Dec 11 Reuter | ZURN INDUSTRIES INC <ZRN> SETS QUARTERLY |
Qtly div 20 cts vs 20 cts prior Pay Dec Four Record Nov 16 Reuter | VWR CORP <VWRX.O> SETS QUARTERLY |
Coastal Corp said it authorized the purchase of up to one mln shares of the companys common stock. Coastal said the purchases were authorized because it believes the current market price of the stock is substantially less than the underlying value of the shares. Coastal has 46.4 mln shares of common stock outstanding. The company said the repurchases would not affect the companys ability to pay down 300 mln dlrs in outstanding debt and preferred stock by year-end. Reuter | COASTAL <CGP> TO BUY BACK UP TO ONE MLN SHARES |
SmithKline Beckman Corp said it opened an 8.5 mln dlr pharmaceutical manufacturing plant in Tianjin China. The plant will make pharmaceutical products for the joint venture company Tianjin Smith Kline and French Laboratories. SmithKline said the joint venture combines Smith Kline and French Laboratories the pharmaceutical unit of SmithKline Beckman the <Tianjin Medical Co> and <Hebel Chemical Plant> in Tianjin. The plant has the capability to produce one billion tablets and 200 mln capsules a year. Reuter | SMITHKLINE <SKB> OPENS PLANT IN CHINA |
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS, SOYBEANS 16,333 WHEAT 30,917 CORN 36,781 |
|
Qtly div 24 cts vs 28 cts in prior qtr Payable November 25 Record Oct 30 NOTE: Full name is Travelers Realty Income Investors. It said the lower dividend reflects the reduction in cash flow from a mortgage secured by a motel in Slicell La. Reuter | TRAVELERS REALTY INCOME <TRIIS.O> PAYOUT CUT |
CCR Video Corp said it has received an offer to enter into negotiations for <Intercep Investment Corp> to acquire a controlling interest through a tender offer. The company said The negotiations would determine the terms under which the CCR board of directors could support the INTERCEP tender offer. It gave no further details. Reuter | CCR VIDEO <CCCR.O> IN TALKS ON BEING ACQUIRED |
Shr 25 cts vs 25 cts prior qtr Pay November 13 Record October 30 Reuter | EARLE M. JORGENSEN CO <JOR> QTLY DIVIDEND |
Shr primary 1.15 dlrs vs 76 cts Shr fully diluted 1.15 dlrs vs 76 cts Net 40.8 mln vs 27.1 mln Revs 369.6 mln vs 263.2 mln Nine mths Shr primary 2.95 dlrs vs 3.44 dlrs Shr fully diluted 2.95 dlrs vs 3.33 dlrs Net 103.8 mln vs 119.0 mln Revs 1.06 billion vs 897.8 mln Reuter | FIRST BOSTON INC <FBC> 3RD QTR NET |
Italys overall balance of payments showed a 919 billion lire surplus in September against a deficit of 1026 billion in August provisional Bank of Italy figures showed. The September surplus compared with a shortfall of 1697 billion lire in September 1986. For the first nine months of 1987 the overall balance of payments showed a deficit of 1921 billion lire against a 1725 billion deficit in the same 1986 period. The central bank said Italys one billion dlr Eurobond launched last month contributed to Septembers surplus. REUTER | ITALY SHOWS SEPTEMBER OVERALL PAYMENTS SURPLUS |
<Willis Faber Plc> said its 20.8 pct holding in stockbrokers Morgan Grenfell Group Plc <MGFL.L> was not up for sale. The insurance broker issued a statement in reply to recent press speculation which it said was in part inaccurate and undesirable. Willis Faber has not received any offers for its stake in Morgan Grenfell it said adding that an offer would have to be considered on its merits. Willis Fabers stake in Morgan Grenfell has been a very successful investment it said. Reuter | WILLIS FABER NOT SELLING MORGAN GRENFELL STAKE |
DOW JONES INDUSTRIAL AVERAGE DOWN MORE THAN 13.2 PCT, EXCEEDS PERCENTAGE DROP IN 1929 |
|
The U.K. Government said it would seek the compulsory winding up of James Tennant Commodities Ltd on grounds of public interest and that details would be heard in the High Court on November 18. A Department of Trade and Industry spokesman said that James Tennant was relatively small and that its activities had concentrated on allowing investors to participate in pooled trading schemes in commodity futures. No application had been made for the appointment of a provisional liquidator in the case he added. Reuter | UK SEEKS WINDING UP OF JAMES TENNANT COMMODITIES |
Shr 22 cts vs 57 cts Net 504808 vs 1281781 Revs 633119 vs 1396703 Nine mths Shr 87 cts vs 1.32 dlrs Net 1959385 vs 2986379 Revs 2342322 vs 3346555 NOTE: Full name of trust is Travelers Realty Income Investors Reuter | TRAVELERS REALTY INCOME <TRIIS.O> 3RD QTR NET |
The African Development Bank plans to raise about 200 mln dlrs via a U.S. Domestic bond this year Milan Kerno vice president of finance said at a presentation. He said the Bank planned to borrow about 700 mln dlrs in world capital markets in 1987 and roughly the same amount in 1988. Because of the weak condition of the euroyen market plans for a bond in that sector which would comprise part of the 700 mln dlrs have been put on hold Kerno said. But we should complete our programme (this year) markets willing Kerno said adding the Banks 1987 borrowing so far totaled about 400 mln dlrs. The Banks board of directors will meet on October 26 to discuss plans to begin Bank trading in unspecified securities with desks in Abidjan Kerno said. Trading would be conducted along similar lines as existing World Bank and Asian Development Bank operations he said. The Bank now has roughly 1.2 billion dlrs in available liquidity to serve as a basis for trading although not all of this will be traded at the start. The Bank plans to use the funds gradually over the next three or four years he said. To facilitate lending increases the Bank tripled paid-in capital to about 18 billion dlrs from six billion in June. German bankers at the presentation criticized the Bank for its overly conservative lending adding the Bank would do better to invest more capital in loans. Total net equity capital consisting of subscribed capital and reserves rose to 1282 pct of its funded debt in 1986 from 552 pct in 1985 the Banks statistics showed. Other Bank figures from 1986 showed the Interamerican Development Banks net equity totaled 302 pct of funded debt and the Asian Development Banks 295 pct. Reuter | AFRICAN DEVELOPMENT BANK PLANS U.S. DOMESTIC BOND |
French finance minister Edouard Balladur said the agenda of state privatisations may not be done at full speed if market conditions prove unsuitable. Im not going to privatise at full speed if market conditions do not permit. That would be absurd he told journalists. What were going to do is adapt our program very closely to the evolution of our stock markets. French stock prices fell more than 10 pct on Monday a 6-1/2 year record as concern deepened that interest rates worldwide would surge and choke off fragile economic growth dealers said. Stock of several privatised firms fell below their issue price. Reuter | BALLADUR SAYS MARKET MAY HOLD UP PRIVATISATIONS |
Shr 75 cts vs 55 cts Net 8031000 vs 5819000 Nine mths Shr 2.16 dlrs vs 1.42 dlrs Net 23.2 mln vs 15.1 mln Assets 3.41 billion vs 2.84 billion Deposits 2.54 billion vs 2.19 billion NOTE: 1987 nine mths includes gain 1008000 dlrs or nine cts per share from utilization of prior years net operating loss carryforwards. NOTE: 1986 qtr and nine mths include loss 131000 dlrs or one cent per share from unspecified extraordinary item. 1986 qtr and nine mths includes gain 2281000 dlrs or 22 cts per share and 6393000 dlrs or 60 cts per share respectively from utilization of net operating loss carryforwards. full name of company is society for savings bancorp inc. Reuter | SOCIETY FOR SAVINGS BANCORP <SOCS.O> 3RD QTR |
Nomura Securities Co Ltd is seeking a possible business relationship with Kidder Peabody and Co Inc said Setsuya Tabuchi the chairman of the board of Nomura. Tabuchi told an investment conference at present the companys staff (of Nomura) has been studying the possiblity of a joint buiness he said. Tabuchi said he has not been informed how far the study has progressed. He declined to elaborate further. Kidder Peabody is a wholly-owned subsidiary of General Electric <GE>. Kidder officials were not immediately available for comment. Reuter | NOMURA SAYS IT SEEKS LINK WITH KIDDER PEABODY |
Shr 88 cts vs 73 cts Net 2580000 vs 2147000 Nine mths Shr 2.48 dlrs vs 2.33 dlrs Net 7266000 vs 5948000 Reuter | PROGRESSIVE BANK INC <PSBK.O> 3RD QTR NET |
Shr loss 12 cts vs profit two cts Net loss 2669000 vs profit 528000 Revs 79.8 mln vs 74.9 mln Nine mths Shr profit 64 cts vs profit 1.63 dlrs Net profit 14.3 mln vs profit 35.7 mln Revs 280.0 mln vs 288.8 mln Reuter | WASHINGTON WATER POWER <WWP> 3RD QTR LOSS |
President Reagan and his advisers discussed the stock market fall at a previously scheduled issues lunch at the White House officials said. There was no formal comment on the market slide but an official suggested that a comment might be forthcoming after the market closed. Reagan made no mention of the stock market when he gave a glowing account of recent economic performance at the swearing in of C. William Verity as Commerce Secretary. He said this month would set a record for the longest peacetime expansion on record and added that leading indicators had sent a message of steady as she goes. Reuter | MARKET FALL DISCUSSED AT REAGAN LUNCH |
Banking Center said its board declared an initial quarterly dividend of 20 cts per share payable December 11 record October 30. Reuter | BANKING CENTER <TBCX.O> SETS INITIAL QUARTERLY |
Shr 87 cts vs 84 cts Net 418.6 mln vs 399.2 mln Revs 3.12 billion vs 2.89 billion Nine mths Shr 2.61 dlrs vs 2.62 dlrs Net 1.25 billion vs 1.23 billion Revs 9.10 billion vs 8.62 billion Avg shrs 481.4 mln vs 473.6 mln NOTE: Share adjusted for three-for-two stock split in February 1987. Reuter | BELLSOUTH CORP <BLS> 3RD QTR NET |
Digital Communications Associates Inc said it unveiled two new products that allow personal computers not directly attached to a mainframe computer to communicate with the host computer. The IRMAremote for Hayes AutoSync which will cost 395 dlrs is a software product that allows International Business Machines Corp <IBM> personal computers to communicate with host computers via dial-up telephone lines. The IRMAremote X.25 costing 1795 dlrs uses hardware and software and allows personal computers to communicate with host computers via X.25 packet switching network. Reuter | DIGITAL COMMUNICATIONS <DCAI.O> UNVEILS PRODUCTS |
DOW JONES INDUSTRIAL INDEX DROPS UNDER 2000 LEVEL, DOWN ALMOST 300 POINTS TODAY |
|
Shr profit 55 cts vs loss 12 cts Net profit 3998000 vs loss 915000 Sales 93.8 mln vs 80.9 mln Nine mths Shr profit 1.71 dlrs vs profit 95 cts Net profit 12641000 vs profit 7282000 Sales 260.9 mln vs 249 mln Note: 1986 figures include a five mln dlr or 65 cts a share charge for electronics restructuring and 1.7 mln dlr charge from early retirement of 12 mln dlrs in long-term notes Reuter | RTE CORP <RTE> 3RD QTR NET |
Shr 2.17 dlrs vs 1.42 dlrs Net 24907000 vs 16117000 Nine mths Shr 4.05 dlrs vs 3.75 dlrs Net 47105000 vs 42874000 Assets 9.66 billion vs 9.25 billion Deposits 8.06 billion vs 7.80 billion Loans 842.5 mln vs 711.1 mln Reuter | COMERICA INC <CMCA.O> 3RD QTR NET |
Shr 84 cts vs 86 cts Net 3893000 vs 4054000 Revs 21.0 mln vs 21.2 mln Nine Mths Shr 1.88 dlrs vs 1.87 dlrs Net 8707000 vs 8848000 Revs 57.9 mln vs 59.1 mln NOTE: 1986 per share adjusted for three for two stock split effective June 1 1987. St. Joseph Light and Power Co is full name of company. Reuter | ST. JOSEPH LIGHT <SAJ> 3RD QTR NET |
Yugoslav Prime Minister Branko Mikulic unveiling a new draft economic program said Yugoslavia would cut repayments on its almost 20 billion lr hard currency debt to bring them in line with its hard currency earning capacity. We have decided to coordinate repayment of our debt with realistically assessed capabilities of our economy he said in Parliament. He said the current debt-service ratio (over 40 pct of export revenue) was too high. Yugoslavia is to negotiate a long-term restructuring of its debt after missing repayments in recent months Mikulic said. If we did not change the dynamics of repaying our debt the situation would become increasingly worse Mikulic said. He said on the present repayment schedule Yugoslavia would have a net outflow of two billion dlrs and the level of debt would be halved by 1995. But he added: The consequences would not only mean slower economic growth in the coming years but also further exhaustion of the economy and lasting damage to the economys capacity for development he said. All that would of course intensify social difficulties Mikulic added. The state news agency Tanjug said on October 9 that Yugoslavia plans to adjust debt repayments over the next eight years and to cut the debt-service ratio to 25 pct. Yugoslavia failed to make a principal repayment due last month which had already been postponed by 90 days. Mikulics proposed economic program which also includes higher personal taxes as well as wage and price restraint is intended to serve as a basis for the debt talks to demonstrate Yugoslavias ability to eventually repay the credits. His program has to be discussed and approved by parliament by early November. Mikulic said foreign debt should be retained at about the same level as now until 1990 and the country should then be able to keep currency reserves equal to three months payments. Of course these are our proposals for talks with creditors. We expect understanding and support because it is in their interest as well Mikulic said. He said that under the present schedule debt payments had slowed economic development and exhausted currency reserves. Banking sources say Yugoslavias reserves are inadequate at present for even one months debt and import bill. REUTER | YUGOSLAVIA DEBT PAYMENTS TO BE ADJUSTED TO EXPORTS |
The New York Stock Exchange said it is confident that its computer systems can handle the pace of trading volume today. We are confident that whatever volume we have this afternoon we can handle it said Richard Torrenzano a vice president at the NYSE. With two hours of trading left a record 422 mln shares have traded hands far outpacing the volume on the markets busiet days. The previous busiest day was last Friday when 338 mln shares traded. Our systems have been tested and they can handle heavy volume effectiviy and efficiently Torrenzano said. He said the Exchange has been in constant contact with the Securities and Exchange Commission concerning todays record breaking decline and heavy volume. He declined to comment on the context of those discussions. Earlier today SEC chairman David Ruder said a brief trading halt has been discussed as one way of restoring order to the market but stressed he is not recommending one at this time. He did not say if the option was discussed with the NYSE. Reuter | NYSE SAYS IT IS CONFIDENT IT CAN HANDLE VOLUME |
Shr 1.04 dlrs vs 67 cts Shr diluted 1.01 dlrs vs 66 cts Net 63.2 mln vs 40.5 mln Sales 1.70 billion vs 1.43 billion Nine mths Shr 2.91 dlrs vs 2.88 dlrs Shr diluted 2.85 dlrs vs 2.82 dlrs Net 176.5 mln vs 172.7 mln Sales 5.08 billion vs 4.49 billion Avg shrs 60.3 mln vs 59.6 mln Avg shrs diluted 62.0 mln vs 61.3 mln Reuter | TRW INC <TRW> 3RD QTR NET |
Investor Donald Knutson said he filed a suit against First Northern Savings and Loan Association of Green Bay stating his request of management for access to First Northerns stockholder lists had been denied. Knutson owns about 9.9 pct of First Northerns outstanding stock. He said in his complaint he intends to use the list to cause a special meeting of First Northerns shareholders to be convened to discuss his concerns over the lack of liquidity in the trading market for the stock of First Northern and methods of increasing the value of the shares. Reuter | INVESTOR SUES FIRST NORTHERN SAVINGS <FNGB.O> |
Senate Democratic leader Robert Byrd pointing to panic selling on Wall Street urged President Reagan to join Congress in fighting trade and budget deficits. It is time the administration put policies ahead of politics Byrd said. Byrd said the president needs to begin working with Congress to reduce the double deficits in trade and the budget that cause such a cloud on this nations future. Reuter | SENATE BOSS ASKS REAGAN TO FIGHT STOCK FALL |
Head of the Chamber of Commerces Money and Credit section Hellmuth Klauhs said the government should guarantee any company debts arising from the planned restructuring of the public sector. Klauhs said that there was no doubt that the government would meet its obligations. But the owner should say this clearly once again he added. Klauhs said 35 billion of 61 billion schillings owed by firms under the state holding <Oesterreichische Industrieholding AG> (OIAG) currently had no formal state guarantee. Nine of the 35 billion schillings were owed to foreign banks. Klauhs also managing director of <Genossenschaftliche Zentralbank AG> said banking industry officials would discuss the issue with finance minister Ferdinand Lacina next month. Lacina said last week a special guarantee would be unnecessary as state industry had the financial power and enough liquidity to pay its debts. The government has said the latest injection of state funds into OIAG to cover losses will be the last. Under a restructuring plan OIAG is to create five new holding companies divided by sector. REUTER | AUSTRIAN GUARANTEE WANTED ON STATE FIRM DEBTS |
AMEX SAYS IT SURPASSES DAILY VOLUME RECORD FOR EQUITIES FOR A SINGLE TRADING SESSION. |
|
French Finance Minister Edouard Balladur said the Group of Seven (G-7) industrial countries should respect pledges on monetary policy made in the February Louvre accord on currency stability. We have to strengthen the cooperation between the seven major industrial countries and remind ourselves of the pledges we made at the Louvre he told journalists. They were not simply pledges to maintain currency stability but also to conduct a certain type of economic and monetary policy he added. Reuter | BALLADUR URGES G-7 TO RESPECT LOUVRE ACCORD |
Subsets and Splits