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training/3639
|
training/3639 |@title thai:1 sugar:1 production:1 increase:1 |@word thai:3 sugar:2 production:3 total:3 960:1 788:1 tonne:6 january:6 increase:3 12:1 7:2 pct:3 1986:3 accord:1 figure:2 receive:1 international:1 organization:1 november:2 december:2 also:1 exceed:1 last:1 year:2 result:1 output:2 first:1 three:2 month:2 season:1 show:1 23:1 1:4 1985:2 86:2 1987:1 period:2 29:1 mln:5 export:2 however:1 fall:1 73:1 164:1 35:1 910:1 domestic:1 consumption:1 3:2 192:1 069:1 sufficient:1 prevent:1 significant:1 rise:1 stock:1 climb:1 62:1 end:1 compare:1 52:1 earlier:1 agricultural:1 ministry:1 official:1 previously:1 forecast:1 decline:1 87:1 raw:1 around:1 2:2 48:1
|
THAI SUGAR PRODUCTION INCREASES
Thai sugar production totalled 960,788
tonnes in January, an increase of 12.7 pct on January 1986,
according to figures received by the International Sugar
Organization.
November and December production figures also exceeded last
year's totals with the result that output in the first three
months of the season showed a 23.1 pct increase over 1985/86.
Production in the November 1986 to January 1987 period totalled
1.29 mln tonnes.
Thai exports in December and January were down, however.
January exports fell from 73,164 to 35,910 tonnes.
Domestic consumption increased 7.3 pct to 192,069 tonnes
for the three month period, but this was not sufficient to
prevent a significant rise in stocks, which climbed to 1.62 mln
tonnes by the end of January, compared with 1.52 mln a year
earlier.
Thai Agricultural Ministry officials have previously
forecast a decline in 1986/87 raws output to around 2.3 mln
tonnes from 2.48 mln in 1985/86.
|
training/3640
|
training/3640 |@title canada:1 december:1 lead:1 indicator:1 0:1 4:1 pct:1 |@word canada:2 lead:1 composite:1 indicator:1 advance:3 0:4 4:2 pct:5 december:1 gain:1 two:1 previous:1 month:3 statistics:1 say:2 unfiltered:1 index:1 rise:2 8:1 turnaround:1 3:1 decline:1 november:1 federal:1 agency:1 manufacturing:1 group:1 continue:1 post:1 good:1 production:1 1:1 6:1 third:1 increase:1 last:1 four:1 however:1 offset:1 deceleration:1 household:1 demand:1
|
CANADA DECEMBER LEADING INDICATOR UP 0.4 PCT
Canada's leading composite indicator
advanced 0.4 pct in December after gaining 0.4 pct in the two
previous months, Statistics Canada said.
The unfiltered index rose 0.8 pct in the month, a
turnaround from the 0.3 pct decline in November, the federal
agency said.
The manufacturing groups continued to post advances while
goods production rose 1.6 pct, the third increase in the last
four months. The advances, however, were offset by a
deceleration in household demand.
|
training/3643
|
training/3643 |@title anova:1 ventures:1 set:1 dividend:1 duevel:1 share:1 |@word anova:4 ventures:1 corp:2 say:2 board:1 declare:1 dividend:2 payable:1 form:1 registered:1 share:3 stock:1 duvel:4 blind:3 public:1 pool:3 describe:1 publishing:1 financial:1 service:1 firm:1 specialize:1 arrange:1 rever:1 acquisition:1 merger:2 shell:1 private:3 company:2 create:1 act:1 seek:1 operate:1 sell:1 300:1 000:2 common:1 investor:1 group:1 finance:1 expense:1 registration:1 640:1 pay:1 stockholder:1 add:1
|
ANOVA VENTURES SETS DIVIDEND IN DUEVEL SHARES
<ANova Ventures Corp> said its board
declared a dividend payable in the form of registered shares of
stock in <Duvel Corp>, a blind public pool.
ANova describes itself as a publishing and financial
services firm specializing in arranging revers acquisitions and
mergers between blind pools/shells and private companies.
ANova said it created Duvel to act as a blind pool and will
seek an operating private company to merger with Duvel. Duvel
has sold 300,000 common shares to a private investor group to
finance expenses of registration and 640,000 shares will be
paid to ANova stockholders as a dividend, it added.
|
training/3645
|
training/3645 |@title chrysler:1 c:1 deal:1 leave:1 uncertainty:1 amc:1 worker:1 |@word chrysler:7 corp:2 1:2 5:1 billion:1 dlr:2 bid:1 takeover:2 american:4 motors:2 amo:1 help:1 bolster:1 small:1 automaker:1 sale:1 leave:1 future:3 19:1 000:1 employee:1 doubt:2 industry:4 analyst:5 say:8 business:1 usual:1 yesterday:1 headquarters:1 one:1 day:1 propose:1 merger:2 unveil:1 amc:8 french:2 parent:1 renault:2 accord:1 company:2 spokesman:1 edd:1 snyder:1 discuss:1 board:1 meeting:1 today:1 would:6 radically:1 different:1 subsidiary:1 continue:1 state:2 run:1 car:3 group:1 control:1 shareholder:1 assembly:2 plant:8 kenosha:1 wis:1 toledo:3 ohio:1 jeep:4 overcapacity:1 predict:1 north:1 auto:2 early:2 1990:1 come:1 pass:1 far:1 art:1 manufacture:1 site:1 history:1 poor:1 labor:1 relation:1 need:2 many:1 new:4 michael:1 luckey:1 automotive:1 wall:1 street:1 firm:1 shearson:1 lehman:1 brother:1 probably:1 close:2 move:2 production:2 canada:1 ronald:1 glantz:1 montgomery:1 security:1 least:1 owner:1 able:2 wring:1 concession:1 united:1 automobile:1 workers:1 union:1 local:1 represent:1 worker:1 uaw:1 win:1 hold:1 ransom:1 year:1 underutilize:1 facility:1 transfer:1 foresaw:1 major:2 complication:1 abort:1 combination:1 historian:1 big:1 since:2 motor:1 form:1 1954:1 financial:1 savior:1 loss:1 800:1 mln:2 dlrs:1 1980:1 pressure:1 france:1 cut:2 backing:1 could:1 forecast:1 consistent:1 profitability:1 1988:1 announce:1 agreement:1 chairman:1 lee:1 iacocca:1 cite:1 division:1 well:1 675:1 bramalea:1 ontario:1 network:1 200:1 dealer:1 attraction:1 reason:1 may:1 feel:1 eventually:1 sell:1 old:1 overhead:1 cost:1 view:1 debt:1 liability:1 incur:1 buyout:1
|
CHRYSLER <C> DEAL LEAVES UNCERTAINTY FOR AMC WORKERS
Chrysler Corp's 1.5 billion dlr bid to
takeover American Motors Corp <AMO> should help bolster the
small automaker's sales, but it leaves the future of its 19,000
employees in doubt, industry analysts say.
It was 'business as usual' yesterday at the American Motors
headquarters, one day after the proposed merger was unveiled by
Chrysler and AMC's French parent Renault, according to company
spokesman Edd Snyder.
But AMC's future, to be discussed at a board meeting today,
would be radically different as a Chrysler subsidiary than if
it had continued with the state-run French car group as its
controlling shareholder.
Industry analysts said the future of AMC's car assembly
plant in Kenosha, Wis., and its Toledo, Ohio, Jeep plant would
be in doubt if the overcapacity predicted in the North American
auto industry by the early 1990s comes to pass.
Both plants are far from 'state of the art' for car
manufacturing sites, and AMC has a history of poor labor
relations at each.
'Chrysler doesn't need that many new plants,' said Michael
Luckey, automotive analyst for the Wall Street firm Shearson
Lehman Brothers. 'They probably will close the Toledo plant and
move Jeep production to Canada.'
Ronald Glantz of Montgomery Securities said that at the
very least, the new owner of the Toledo plant would be able to
wring concessions from the United Automobile Workers union
local representing Jeep workers.
'The UAW won't be able to hold them up for ransom as they
have AMC because during a down year, Chrysler will have
underutilized facilities to transfer production,' he said.
Analysts said they foresaw no major complications that
would abort a combination which historians said would be the
auto industry's biggest merger since American Motors was formed
in 1954.
AMC was in need of a financial savior because of its losses
of more than 800 mln dlrs since 1980 and pressures in France
for Renault to cut its backing. The company had said it could
not forecast consistent profitability until 1988 at the
earliest.
In announcing the takeover agreement, Chrysler chairman Lee
Iacocca cited AMC's Jeep division as well as its new 675 mln
dlr assembly plant at Bramalea, Ontario, and its network of
1,200 dealers as the major attractions.
Analysts reasoned that Chrysler might feel moved eventually
to sell off or close some of the older plants to cut overhead
costs in view of the new debts and liabilities it would incur
in the AMC buyout.
|
training/3646
|
training/3646 |@title st:1 joe:1 gold:1 develop:1 ontario:1 mine:1 |@word st:3 joe:3 gold:9 corp:1 say:8 plan:1 proceed:1 development:3 golden:3 patricia:3 property:4 northwestern:1 ontario:1 five:1 mln:2 dlrs:2 spend:1 continue:2 underground:2 obtain:1 operating:2 permit:2 another:1 10:1 2:1 expect:2 require:1 complete:1 construct:1 mill:1 provide:1 infrastructure:1 need:1 put:1 mine:2 commercial:1 production:2 necessary:1 grant:1 time:1 would:1 start:1 second:1 half:1 year:1 end:1 october:1 31:1 1988:1 annual:1 rate:1 40:1 000:4 troy:5 ounce:5 company:2 estimate:1 contain:2 500:1 initial:2 mining:1 project:1 cover:1 seven:1 192:1 claim:1 drill:2 indicate:1 reserve:1 293:1 short:1 ton:5 grade:2 0:3 88:1 per:2 output:1 150:1 ore:1 daily:1 vein:1 test:1 depth:1 along:1 strike:1 east:1 west:1 exploration:1 adjacent:1 wholly:1 muskeg:1 lake:1 also:1 richmond:1 hill:1 silver:2 deposit:1 carbonate:1 district:1 western:1 south:1 dakota:1 show:1 3:1 900:1 055:1 23:1 preliminary:1 result:1 encouraging:1 feasibility:1 study:1 near:1 completion:1
|
ST. JOE GOLD TO DEVELOP ONTARIO MINE
St. Joe Gold Corp said it plans to
proceed with development of its Golden Patricia gold property
in northwestern Ontario.
It said about five mln dlrs will be spent to continue
underground development and obtain operating permits and
another 10.2 mln dlrs is expected to be required to complete
underground development, construct a mill and provide the
infrastructure needed to put the mine into commercial
production.
St. Joe Gold said if the necessary operating permits were
granted in time, it would start gold production in the second
half of the year ending October 31, 1988 at an annual rate of
about 40,000 troy ounces.
The company said the property is estimated to contain over
500,000 troy ounces of gold, and the initial mining project
covers only seven of 192 claims, with drill-indicated reserves
of 293,000 short tons grading 0.88 troy ounce of gold per ton.
It said initial mine output is expected to be about 150
tons of ore daily.
St. Joe Gold said the Golden Patricia vein has not been
tested at depth or along strike to the east and west and
exploration is continuing on the Golden Patricia property and
the adjacent wholly-owned Muskeg Lake property.
The company also said its Richmond Hill gold and silver
deposit in the Carbonate district of western South Dakota has
been shown by drilling to contain about 3,900,000 tons grading
0.055 troy ounce of gold and 0.23 troy ounce of silver per ton.
It said preliminary results are encouraging and a feasibility
study is nearing completion.
|
training/3647
|
training/3647 |@title nucor:1 corp:1 nue:1 raise:1 quarterly:1 |@word qtly:1 div:1 nine:1 ct:2 vs:1 eight:1 prior:1 pay:1 may:1 12:1 record:1 march:1 31:1
|
NUCOR CORP <NUE> RAISES QUARTERLY
Qtly div nine cts vs eight cts prior
Pay May 12
Record March 31
|
training/3649
|
training/3649 |@title kelsey:1 hayes:1 canada:1 ltd:1 year:1 net:1 |@word shr:2 1:1 60:1 dlrs:2 vs:3 3:1 12:1 net:1 10:1 6:3 mln:4 20:1 revs:1 162:1 5:1 214:1 note:1 1985:1 restate:1 reflect:1 january:1 31:1 1986:1 stock:1 split:1 73:1 pct:1 kelsey:1 hayes:1 co:1
|
<KELSEY-HAYES CANADA LTD> YEAR NET
Shr 1.60 dlrs vs 3.12 dlrs
Net 10.6 mln vs 20.6 mln
Revs 162.5 mln vs 214.6 mln
Note: 1985 shr restated to reflect January 31, 1986 stock
split.
73 pct-owned by Kelsey-Hayes Co.
|
training/3651
|
training/3651 |@title riggs:1 national:1 corp:1 rigs:1 set:1 quarterly:1 |@word qtly:1 div:1 27:2 1:2 2:2 ct:2 vs:1 prior:1 pay:1 april:1 15:1 record:1 march:1 31:1
|
RIGGS NATIONAL CORP <RIGS> SETS QUARTERLY
Qtly div 27-1/2 cts vs 27-1/2 cts prior
Pay April 15
Record March 31
|
training/3652
|
training/3652 |@title pacer:1 system:1 make:1 acquisition:1 |@word pacer:1 system:2 say:1 agree:1 principle:1 acquire:1 asset:1 sea:1 data:1 corp:1 maker:1 low:1 powered:1 electronic:1 include:1 undersea:1 intelligent:1 recording:1 sensor:1 high:1 density:1 digital:1 datum:1 recorder:1 one:1 mln:1 dlrs:1
|
<PACER SYSTEMS> TO MAKE ACQUISITION
Pacer Systems said it has
agreed in principle to acquire the assets of Sea Data Corp, a
maker of low-powered electronic systems including undersea
intelligent recording sensors and high-density digital data
recorders, for one mln dlrs.
|
training/366
|
training/366 |@title ropak:1 ropk:1 34:1 pct:1 buckhorn:1 bkn:1 |@word ropak:3 corp:1 say:4 receive:1 accept:1 456:1 968:1 common:2 share:5 527:1 035:1 series:1 convertible:1 preferred:2 buckhorn:5 inc:1 four:1 dlrs:2 5:1 75:1 respectively:1 response:1 tender:2 offer:1 expire:1 friday:1 34:1 4:1 pct:1 voting:1 power:1 company:1 63:1 000:1 25:1 100:1 start:1 hostile:1 borrow:1 fund:2 need:2 buy:2 bank:2 lender:1 use:1 another:1 commit:1 provide:1 margin:1 loan:1 waive:1 minimum:1 acceptance:1 requirement:1 intend:1 evaluate:1 number:1 possible:1 way:1 complete:1 acquisition:1 hope:1 board:1 reevaluate:1 position:1 enter:1 meaningful:1 negotiation:1
|
ROPAK <ROPK> HAS 34 PCT OF BUCKHORN <BKN>
Ropak Corp said it received
and accepted about 456,968 common shares and 527,035 Series A
convertible preferred shares of Buckhorn Inc at four dlrs and
5.75 dlrs each respectively in response to its tender offer
that expired Friday, and it now owns 34.4 pct of Buckhorn
voting power.
The company had owned 63,000 common and 25,100 preferred
shares before starting the hostile tender. Ropak said it is
borrowing the funds needed to buy the Buckhorn shares from its
bank lender and will not need to use any funds that another
bank had committed to provide under a margin loan.
Ropak said it waived minimum acceptance requirements to buy
the shares and intends to evaluate a number of possible ways of
completing an acquisition of Buckhorn. It said it hopes that
Buckhorn's board will reevaluate its position and enter into
meaningful negotiations.
|
training/3660
|
training/3660 |@title spain:1 qualify:1 reserve:1 requirement:1 statement:1 |@word bank:4 spain:1 spokesman:3 qualify:1 statement:1 announce:1 extension:1 reserve:3 requirement:3 convertible:3 peseta:3 fund:3 hold:1 say:3 move:1 apply:2 future:1 rise:1 current:1 balance:1 19:1 pct:1 increase:1 previously:1 exempt:1 measure:1 intend:1 curb:1 influx:1 short:1 term:1 foreign:1 speculative:1 capital:1 threaten:1 government:1 money:1 supply:1 growth:1 target:1
|
SPAIN QUALIFIES RESERVE REQUIREMENTS STATEMENT
A Bank of Spain spokesman qualified a
bank statement announcing an extension of reserve requirements
to convertible peseta funds held by banks, saying the move
applied only to future rises above current balances.
'The 19 pct reserve requirement will only be applied to
further increases in bank's convertible peseta funds,' the
spokesman said. Convertible peseta funds previously were exempt
from reserve requirements. The spokesman said the measure was
intended to curb an influx of short-term foreign speculative
capital which threatened the government's money supply growth
target.
|
training/3661
|
training/3661 |@title spain:1 money:1 supply:1 growth:1 double:1 february:1 |@word spain:2 broad:2 base:2 4:3 money:3 supply:3 rise:1 annualise:1 rate:2 16:1 7:1 pct:5 february:2 8:1 1:1 january:1 22:1 last:2 year:3 bank:1 figure:1 show:1 measure:1 liquid:1 asset:2 public:1 hand:1 plus:1 quasi:1 monetary:1 growth:1 11:1 government:1 want:1 reduce:1 eight:1
|
SPAIN'S MONEY SUPPLY GROWTH DOUBLES IN FEBRUARY
Spain's broad based M-4 money supply
rose at an annualised rate of 16.7 pct in February against 8.1
pct in January and 22.4 pct in February last year, Bank of
Spain figures show.
The broad-based money supply is measured as liquid assets
in public hands plus quasi-monetary assets.
Money supply growth was 11.4 pct last year. The government
wants to reduce the rate to eight pct this year.
|
training/3666
|
training/3666 |@title dealer:1 wary:1 sterling:1 intervention:1 rumour:1 |@word foreign:1 exchange:1 market:2 rumour:1 bank:4 england:2 sell:1 sterling:2 halt:1 rise:2 prompt:1 wary:1 response:1 dealer:1 say:2 see:1 obvious:1 confirmation:1 source:1 official:1 immediately:1 available:1 comment:1 earlier:1 week:1 sanction:1 cut:1 interest:1 rate:1 surprise:1 move:1 aim:1 limit:1 ahead:1 march:1 17:1 budget:1 today:1 pound:1 strengthen:1 72:2 7:1 trade:1 weight:1 index:1 1:1 last:1 night:1 though:1 u:1 k:1 currency:1 day:1 high:1 dollar:1
|
DEALERS WARY OVER STERLING INTERVENTION RUMOUR
Foreign exchange market rumours that the
the Bank of England has been selling sterling to halt its rise
prompted a wary response from dealers who said they saw no
obvious confirmation, market sources said.
Bank of England officials were not immediately available
for comment. Earlier this week, the Bank sanctioned a cut in
bank interest rates in a surprise move, which aimed at limiting
sterling's rise ahead of the March 17 budget.
But today the pound has strengthened to 72.7 on its
trade-weighted index from 72.1 last night, though the U.K.
Currency is below its day's high against the dollar.
|
training/3667
|
training/3667 |@title telephone:1 support:1 systems:1 inc:1 tssi:1 3rd:1 qtr:1 |@word nov:1 30:1 end:1 shr:2 four:1 ct:4 vs:6 11:1 net:2 62:1 986:1 174:1 158:1 sale:2 720:1 906:1 907:1 542:1 year:1 18:1 six:1 277:1 852:1 94:1 263:1 2:2 247:1 374:1 030:1 390:1
|
TELEPHONE SUPPORT SYSTEMS INC <TSSI> 3RD QTR
Nov 30 end
Shr four cts vs 11 cts
Net 62,986 vs 174,158
Sales 720,906 vs 907,542
Year
Shr 18 cts vs six cts
Net 277,852 vs 94,263
Sales 2,247,374 vs 2,030,390
|
training/3668
|
training/3668 |@title network:1 video:1 inc:1 nvid:1 3rd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 one:1 ct:4 vs:8 five:1 net:2 50:1 745:1 161:1 019:1 revs:2 478:2 700:1 1:2 048:1 543:1 avg:2 shrs:2 4:2 350:2 000:2 3:2 217:2 500:2 nine:1 mth:1 four:1 12:1 169:1 275:1 390:1 179:1 066:1 2:1 658:1 692:1
|
NETWORK VIDEO INC <NVID> 3RD QTR FEB 28 NET
Shr one ct vs five cts
Net 50,745 vs 161,019
Revs 478,700 vs 1,048,543
Avg shrs 4,350,000 vs 3,217,500
Nine mths
Shr four cts vs 12 cts
Net 169,275 vs 390,179
Revs 1,478,066 vs 2,658,692
Avg shrs 4,350,000 vs 3,217,500
|
training/3669
|
training/3669 |@title comtech:1 inc:1 cmtl:1 2nd:1 qtr:1 jan:1 31:1 net:1 |@word oper:4 shr:2 profit:6 one:1 ct:4 vs:7 two:2 net:3 63:1 000:10 84:1 sale:2 5:1 009:1 4:2 042:1 1st:1 half:2 loss:2 17:2 87:1 794:1 9:1 838:1 7:1 368:1 backlog:1 8:1 mln:2 11:1 note:1 current:1 year:1 exclude:1 tax:1 credit:1 32:1 dlrs:2 quarter:1 45:1
|
COMTECH INC <CMTL> 2ND QTR JAN 31 NET
Oper shr profit one ct vs profit two cts
Oper net profit 63,000 vs profit 84,000
Sales 5,009,000 vs 4,042,000
1st half
Oper shr profit two cts vs loss 17 cts
Oper net profit 87,000 vs loss 794,000
Sales 9,838,000 vs 7,368,000
Backlog 17.8 mln vs 11.4 mln
NOTE: Current year net excludes tax credits of 32,000 dlrs
in quarter and 45,000 dlrs in half.
|
training/3672
|
training/3672 |@title baltek:1 corp:1 btek:1 4th:1 qtr:1 net:1 |@word oper:4 shr:2 21:1 ct:3 vs:8 34:1 net:3 480:1 000:10 765:1 revs:2 6:1 386:1 5:1 862:1 year:2 1:2 20:2 dlrs:5 78:1 2:2 692:1 732:1 25:1 mln:2 3:1 notel:1 exclude:1 tax:1 credit:3 35:1 reversal:1 40:1 quarter:1 79:1 72:1
|
BALTEK CORP <BTEK> 4TH QTR NET
Oper shr 21 cts vs 34 cts
Oper net 480,000 vs 765,000
Revs 6,386,000 vs 5,862,000
Year
Oper shr 1.20 dlrs vs 78 cts
Oper net 2,692,000 vs 1,732,000
Revs 25.2 mln vs 20.3 mln
NOTEL Net excludes tax credit 35,000 dlrs vs reversal of
credit 40,000 dlrs in quarter and credits 79,000 dlrs vs 72,000
dlrs in year.
|
training/3673
|
training/3673 |@title sahlen:1 associate:1 salnu:1 complete:1 purchase:1 |@word sahlen:3 associates:1 inc:3 say:3 complete:1 purchase:1 gleason:3 securities:1 service:2 new:1 york:1 plant:1 security:2 connecticut:1 deal:1 term:1 disclose:1 add:1 acquire:1 company:3 combine:1 annual:1 revenue:1 18:1 mln:1 dlrs:1 private:1 invetigation:1 provide:1 guard:1 corporation:1 tri:1 state:1 area:1
|
SAHLEN AND ASSOCIATES <SALNU> COMPLETES PURCHASE
Sahlen and Associates Inc
said it has completed the purchase of Gleason Securities
Service Inc of New York and Gleason Plant Security Inc of
Connecticut.
Sahlen said the deal's terms were not disclosed, but added
that the acquired companies had combined annual revenues of
over 18 mln dlrs.
Sahlen, a private invetigation company, said the Gleason
companies provide security guard services to corporations in
the tri-state area.
|
training/3674
|
training/3674 |@title mem:2 co:1 inc:1 declare:1 qtly:1 div:1 |@word qtly:1 div:1 15:2 ct:2 vs:1 prior:1 pay:1 may:1 11:1 record:1 march:1 31:1
|
MEM CO INC <MEM> DECLARES QTLY DIV
Qtly div 15 cts vs 15 cts prior
Pay May 11
Record March 31.
|
training/3676
|
training/3676 |@title insituform:1 north:1 america:1 inc:1 insua:1 4th:1 qtr:1 |@word shr:2 nine:1 ct:4 vs:8 four:1 net:3 658:1 159:1 299:1 930:1 revs:2 3:1 770:1 341:1 2:2 614:1 224:1 avg:2 shrs:2 7:1 382:1 802:1 6:2 747:1 442:1 year:2 oper:2 33:1 18:1 287:1 179:1 1:2 045:1 799:1 13:2 mln:1 8:1 577:1 853:1 874:1 505:1 5:1 951:1 612:1 note:1 1985:1 include:1 000:1 dlr:1 tax:1 credit:1
|
INSITUFORM OF NORTH AMERICA INC <INSUA> 4TH QTR
Shr nine cts vs four cts
Net 658,159 vs 299,930
Revs 3,770,341 vs 2,614,224
Avg shrs 7,382,802 vs 6,747,442
Year
Oper shr 33 cts vs 18 cts
Oper net 2,287,179 vs 1,045,799
Revs 13.1 mln vs 8,577,853
Avg shrs 6,874,505 vs 5,951,612
NOTE: 1985 year net includes 13,000 dlr tax credit.
|
training/368
|
training/368 |@title philadelphia:1 port:1 close:1 tanker:1 crash:1 |@word port:2 philadelphia:1 close:2 cypriot:1 oil:3 tanker:1 seapride:1 ii:1 run:1 aground:1 hit:2 200:1 foot:1 tower:1 support:1 power:4 line:2 across:1 river:1 coast:1 guard:1 spokesman:1 say:3 spill:1 ship:3 lodge:1 rock:1 opposite:1 hope:2 creek:1 nuclear:2 plant:2 new:2 jersey:2 would:1 today:1 refloat:1 high:1 tide:1 deliver:1 refinery:1 paulsboro:1 apparently:1 lose:1 steering:1 transmission:1 carry:1 state:1 delaware:1
|
PHILADELPHIA PORT CLOSED BY TANKER CRASH
The port of Philadelphia was closed
when a Cypriot oil tanker, Seapride II, ran aground after
hitting a 200-foot tower supporting power lines across the
river, a Coast Guard spokesman said.
He said there was no oil spill but the ship is lodged on
rocks opposite the Hope Creek nuclear power plant in New
Jersey.
He said the port would be closed until today when they
hoped to refloat the ship on the high tide.
After delivering oil to a refinery in Paulsboro, New
Jersey, the ship apparently lost its steering and hit the power
transmission line carrying power from the nuclear plant to the
state of Delaware.
|
training/3680
|
training/3680 |@title major:1 realty:1 corp:1 majr:1 4th:1 qtr:1 loss:1 |@word shr:2 loss:4 19:1 ct:4 vs:6 profit:4 11:1 net:2 1:2 140:1 270:1 590:1 463:1 rev:1 259:1 164:1 3:2 225:1 512:1 year:1 67:1 10:1 4:1 004:1 840:1 580:1 488:1 revs:1 184:1 480:1 9:1 123:1 041:1
|
MAJOR REALTY CORP <MAJR> 4TH QTR LOSS
Shr loss 19 cts vs profit 11 cts
Net loss 1,140,270 vs profit 590,463
Revs 1,259,164 vs 3,225,512
Year
Shr loss 67 cts vs profit 10 cts
Net loss 4,004,840 vs profit 580,488
Revs 3,184,480 vs 9,123,041
|
training/3681
|
training/3681 |@title nutmeg:1 industries:1 inc:1 nutm:1 year:1 jan:1 31:1 net:1 |@word shr:1 14:1 ct:1 net:1 510:1 917:1 sale:1 12:1 3:2 mln:2 note:1 share:1 adjust:1 five:1 four:1 stock:1 split:1 january:2 1987:1 backlog:1 13:1 0:1 dlrs:2 vs:1 733:1 000:1 company:1 begin:1 operate:1 27:1 1986:1
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NUTMEG INDUSTRIES INC <NUTM> YEAR JAN 31 NET
Shr 14 cts
Net 510,917
Sales 12.3 mln
NOTE: Share adjusted for five for four stock split in
January 1987.
Backlog 13.0 mln dlrs vs 3,733,000 dlrs.
Company began operating January 27, 1986.
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training/3684
|
training/3684 |@title henry:1 ansbacher:1 51:1 pct:1 adams:1 porter:1 inc:1 |@word henry:1 ansbacher:3 holdings:1 plc:1 say:2 acquire:1 51:1 pct:1 interest:1 u:2 retail:1 general:1 corporate:1 insurance:3 broker:1 adams:1 porter:1 inc:1 move:1 first:1 step:1 build:1 new:2 international:1 broking:1 group:1 follow:1 appointment:1 management:1 team:1 seascope:1 holding:1 unit:1 p:1 exciting:1 growth:1 potential:1 particularly:1 east:1 coast:1 annual:1 revenue:1 four:1 mln:3 dlrs:1 share:1 4:1 1:2 2p:1 90:1 2:2 help:1 announcement:1 earlier:1 today:1 1986:1 pretax:1 profit:1 rise:1 5:1 56:1 stg:1 74:1 1985:1
|
HENRY ANSBACHER HAS 51 PCT OF ADAMS AND PORTER INC
<Henry Ansbacher Holdings Plc> said it
has acquired a 51 pct interest in the U.S. Retail and general
corporate insurance broker <Adams and Porter Inc>.
The move is the first step in building a new international
insurance broking group following the appointment of a new
management team for its Seascope Insurance Holdings unit.
Ansbacher said A and P has exciting growth potential,
particularly on the east coast of the U.S. And has an annual
revenue of more than four mln dlrs. Ansbacher shares were up
4-1/2p to 90-1/2, helped by the announcement earlier today of a
1986 pretax profit rise to 5.56 mln stg from 2.74 mln in 1985.
|
training/3688
|
training/3688 |@title natwest:1 rabo:1 unit:1 report:1 8:2 pct:1 profit:1 growth:1 |@word dutch:3 bank:3 f:1 van:4 lanschot:4 bankiers:1 n:2 v:3 co:1 national:2 westminster:2 plc:2 nwbl:1 l:1 rabobank:2 b:3 rabn:1 say:1 1986:1 net:1 profit:1 rise:1 8:3 pct:4 24:1 1:1 mln:2 guilde:2 4:2 high:1 balance:1 sheet:1 total:1 6:1 2:1 billion:1 bankier:1 subsidiary:1 beleggingscompagnie:1 britain:1 cooperative:1 nederland:1 40:1 stake:2 commercial:1 union:1 insurance:1 unit:1 delta:1 lloyd:1 verzekeringsgroep:1 5:2 lower:1 risk:1 provision:1 22:1
|
NATWEST, RABO UNIT REPORTS 8.8 PCT PROFIT GROWTH
Dutch bank F. Van
Lanschot Bankiers N.V., Co-owned by National Westminster PLC
<NWBL.L> and RABOBANK B.A. <RABN.A> , said 1986 net profit rose
8.8 pct to 24.1 mln guilders on a 4.8-pct higher balance sheet
total of 6.2 billion.
Van Lanschot Bankiers is a subsidiary of Van Lanschot
Beleggingscompagnie B.V. In which Britain's National
Westminster Bank PLC and Dutch cooperative bank RABOBANK
Nederland B.A. Each have a 40-pct stake. Commercial Union's
Dutch insurance unit <Delta Lloyd Verzekeringsgroep N.V.> has a
5.4-pct stake in Van Lanschot, which lowered risk provisions to
22.5 mln guilders.
|
training/369
|
training/369 |@title penril:1 pnl:1 seek:1 sell:1 two:1 unit:1 |@word penril:3 corp:2 say:4 seek:1 sell:1 triplett:2 electrical:1 instrument:1 subsidiary:1 bluffton:1 ohio:1 allt:1 division:2 hoffman:1 estate:1 ill:1 part:1 plan:2 concentrate:1 three:1 profitable:1 reduce:1 debt:1 load:1 company:1 also:1 evaluate:1 satisfy:1 obligation:1 10:1 7:1 8:1 pct:1 subordinate:1 note:2 give:2 detail:1 interest:1 due:1 today:1 director:2 clifford:1 l:1 alexander:1 jr:1 resign:1 board:1 reason:1 shareholder:1 annual:1 meeting:1 approve:1 limitation:1 liability:1
|
PENRIL <PNL> SEEKS TO SELL TWO UNITS
Penril Corp said it is seeking to
sell its Triplett Electrical Instrument Corp subsidiary in
Bluffton, Ohio, and Triplett's Alltest division in Hoffman
Estates, Ill., as part of a plan to concentrate on its three
profitable division and reduce its debt load.
The company also said it is evaluating a plan to satisfy
its obligations under its 10-7/8 pct subordinated notes but
gave no details. Interest on the notes is due today.
Penril further said director Clifford L. Alexander Jr. has
resigned from the board. It gave no reason.
Penril said shareholders at the annual meeting approved the
limitation of directors' liability.
|
training/3690
|
training/3690 |@title licht:1 see:1 rise:1 european:1 beet:1 area:1 trade:1 |@word west:1 german:1 sugar:1 statistician:1 f:1 licht:2 estimate:3 european:1 beet:1 planting:3 year:1 7:2 22:1 mln:8 hectare:4 compare:3 revise:1 1986:4 figure:1 21:1 trader:2 say:2 first:1 1987:1 put:1 ec:2 1:2 85:1 89:1 sowing:1 western:1 europe:2 include:1 2:2 49:1 50:1 forecast:1 eastern:1 4:2 73:1 72:1
|
LICHT SEES RISE IN EUROPEAN BEET AREA: TRADE
West German sugar statistician F.O.
Licht estimates European beet plantings this year at 7.22 mln
hectares compared with a revised 1986 figure of 7.21 mln,
traders said.
In its first estimate for 1987, it puts EC plantings at
1.85 mln hectares compared with 1.89 mln in 1986, while it
estimates sowings in Western Europe (including EC) at 2.49 mln
hectares compared with 2.50 mln in 1986.
Traders said Licht forecasts Eastern Europe plantings at
4.73 mln hectares against 4.72 mln in 1986.
|
training/3694
|
training/3694 |@title fed:1 expect:1 add:1 reserve:1 |@word federal:2 reserve:4 expect:1 intervene:1 government:1 security:1 market:1 add:2 temporary:1 via:3 customer:2 system:2 repurchase:3 agreement:1 economist:2 say:2 fed:2 inject:1 indirectly:1 may:1 opt:1 direct:1 injection:1 overnight:1 fund:2 open:1 6:3 3:1 8:1 pct:3 ease:1 5:1 16:1 early:1 trading:1 average:1 29:1 yesterday:1
|
FED EXPECTED TO ADD RESERVES
The Federal Reserve is expected to
intervene in the government securities market to add temporary
reserves via customer or system repurchase agreements,
economists said.
Most economists said the Fed will inject reserves
indirectly via customer repurchases, but they added that the
Fed might opt for a direct injection of reserves via overnight
system repurchases.
Federal funds opened at 6-3/8 pct and eased to 6-5/16 pct
in early trading. Funds averaged 6.29 pct yesterday.
|
training/3695
|
training/3695 |@title ben:1 jerry:1 homemade:1 inc:1 bjic:1 4th:1 qtr:1 net:1 |@word shr:2 10:1 ct:4 vs:8 two:1 net:2 163:1 832:1 31:1 063:1 sale:2 5:1 434:1 430:1 3:1 167:1 735:1 avg:2 shrs:2 1:5 712:1 231:1 533:1 277:1 year:1 59:1 41:1 016:1 375:1 550:1 625:1 19:1 7:1 mln:1 9:1 755:1 018:1 710:1 256:1 327:1 172:1
|
BEN AND JERRY'S HOMEMADE INC <BJIC> 4TH QTR NET
Shr 10 cts vs two cts
Net 163,832 vs 31,063
Sales 5,434,430 vs 3,167,735
Avg shrs 1,712,231 vs 1,533,277
Year
Shr 59 cts vs 41 cts
Net 1,016,375 vs 550,625
Sales 19.7 mln vs 9,755,018
Avg shrs 1,710,256 vs 1,327,172
|
training/3697
|
training/3697 |@title bonneville:1 pacific:1 corp:1 bpco:1 3rd:1 qtr:1 jan:1 31:1 |@word shr:2 52:2 ct:4 vs:8 41:1 net:2 4:2 921:1 601:1 3:1 157:1 070:1 revs:2 35:1 8:3 mln:4 31:1 7:3 avg:2 shrs:2 939:2 955:2 600:2 000:2 nine:1 mth:1 34:1 604:1 406:1 2:1 585:1 621:1 36:1 0:1 32:1 1:1
|
BONNEVILLE PACIFIC CORP <BPCO> 3RD QTR JAN 31
Shr 52 cts vs 41 cts
Net 4,921,601 vs 3,157,070
Revs 35.8 mln vs 31.7 mln
Avg shrs 8,939,955 vs 7,600,000
Nine mths
Shr 52 cts vs 34 cts
Net 4,604,406 vs 2,585,621
Revs 36.0 mln vs 32.1 mln
Avg shrs 8,939,955 vs 7,600,000
|
training/3699
|
training/3699 |@title jc:1 penney:1 jcp:1 smith:1 barney:1 opinion:1 j:1 c:1 |@word penney:1 co:1 stock:6 rise:1 sharply:1 analyst:2 william:1 smith:5 barney:1 recommend:1 base:1 company:5 strong:3 earning:2 momentum:1 possibility:2 buyback:3 dividend:2 hike:1 split:2 trader:1 say:5 impressed:1 basic:1 story:1 note:1 fine:1 tune:1 buying:1 inventory:1 admirably:1 control:1 cost:1 time:1 need:1 jump:1 2:2 1:1 98:1 3:1 4:1 end:1 1986:1 cash:1 position:1 639:1 mln:2 dlrs:4 compare:2 158:1 year:3 imply:1 share:3 significant:1 increase:1 addition:1 gradually:1 adjust:1 merchandise:1 mix:1 gross:1 margin:1 improve:1 expect:1 earn:2 8:2 25:1 50:1 1987:1 7:1 06:1 last:2 result:1 include:1 69:1 cent:1 charge:1 debt:1
|
JC PENNEY <JCP> UP ON SMITH BARNEY OPINION
J.C. Penney Co's stock rose sharply
after analyst William Smith of Smith Barney recommended the
stock, based on the company's strong earnings momentum and the
possibility of a stock buyback, dividend hike or stock split,
traders said.
'I am very impressed with the strong basic earnings story,'
analyst Smith said, noting that the company has 'fine tuned its
buying and inventories, and has admirably controlled costs in a
time that they needed to.'
The stock jumped 2-1/2 to 98-3/4.
Smith said the company ended 1986 with a strong cash
position of about 639 mln dlrs as compared to 158 mln dlrs the
year before. 'This implies the possibility of a share buyback,
or significant dividend increase or a stock split,' he said.
In addition, he said the company has been gradually
adjusting its merchandise mix and its gross margins have been
improving.
Smith expects the company to earn 8.25-to-8.50 dlrs a share
in 1987 as compared to the 7.06 dlrs a share earned last year.
Last year's results include a 69 cent charge for the buyback of
debt.
|
training/37
|
training/37 |@title computer:1 language:1 research:1 clri:1 4th:1 qtr:1 |@word shr:2 loss:4 22:1 ct:6 vs:7 18:1 net:2 3:1 035:1 000:4 2:1 516:1 rev:1 20:1 9:1 mln:4 19:1 6:1 qtly:1 div:1 three:2 prior:1 year:1 profit:4 two:1 34:1 215:1 4:2 647:1 revs:1 93:1 98:1 7:1 note:1 dividend:1 payable:1 april:1 one:1 shareholder:1 record:1 march:1 17:1
|
COMPUTER LANGUAGE RESEARCH IN <CLRI> 4TH QTR
Shr loss 22 cts vs loss 18 cts
Net loss 3,035,000 vs loss 2,516,000
Revs 20.9 mln vs 19.6 mln
Qtly div three cts vs three cts prior
Year
Shr profit two cts vs profit 34 cts
Net profit 215,000 vs profit 4,647,000
Revs 93.4 mln vs 98.7 mln
NOTE: Dividend payable April one to shareholders of record
March 17.
|
training/3701
|
training/3701 |@title german:1 sugar:1 offer:1 put:1 100:1 000:1 tonne:1 |@word west:2 german:2 intervention:5 board:3 say:3 100:1 000:1 tonne:4 sugar:3 offer:4 far:1 spokesman:3 speak:1 frankfurt:2 tell:1 reuters:1 increase:1 recently:1 contract:1 yet:1 conclude:1 european:1 commission:1 brussels:1 earlier:1 confirm:1 one:3 mln:2 various:1 member:1 state:1 million:1 awful:1 lot:1 community:1 coffer:1 almost:1 empty:1 could:1 turn:1 serious:1 political:1 problem:1 trade:1 source:1 believe:1 ec:1 industry:1 would:1 neutral:1 market:1 impact:1 overall:1
|
GERMAN SUGAR OFFERS PUT AT ABOUT 100,000 TONNES
The West German intervention board said
about 100,000 tonnes of sugar have been offered into
intervention so far.
A spokesman, speaking from Frankfurt, told Reuters offers
have increased recently but contracts have not yet been
concluded. A European Commission spokesman in Brussels earlier
confirmed that one mln tonnes of sugar had been offered to
intervention boards in various member states. The intervention
board spokesman in Frankfurt said, 'One million tonnes is an
awful lot and the Community's coffers are almost empty. This
could turn into a serious political problem.'
West German trade sources said they believed the one mln
tonne offer by the EC sugar industry into intervention would
have a neutral market impact overall.
|
training/3702
|
training/3702 |@title bankers:1 trust:1 co:1 raise:1 broker:1 loan:1 rate:1 |@word bankers:1 trust:2 co:2 say:1 raise:1 broker:2 loan:2 rate:3 7:2 1:2 4:1 pct:3 seven:1 effective:1 immediately:1 u:1 also:1 quote:1 publicly:1 post:1 2:1
|
BANKERS TRUST CO RAISES BROKER LOAN RATE
Bankers Trust Co said it raised its
broker loan rate to 7-1/4 pct from seven pct, effective
immediately.
U.S. Trust Co, which also quotes its broker loan rate
publicly, is posting a 7-1/2 pct rate.
|
training/3704
|
training/3704 |@title sigma:1 mines:1 detail:1 gold:1 ore:1 reserve:1 |@word sigma:5 mines:2 quebec:1 ltd:2 65:1 pct:1 dome:2 say:3 mine:3 prove:5 probable:3 reserve:9 end:1 1986:3 4:1 902:1 940:1 ton:8 average:4 grade:4 0:4 139:1 ounce:4 gold:4 equivalent:2 10:1 year:2 future:3 production:2 current:1 milling:1 rate:1 comprise:1 1:1 640:1 779:1 163:1 3:1 262:1 161:1 127:1 change:1 reporting:1 method:1 follow:1 previously:1 report:3 move:1 adopt:1 general:1 industry:1 practice:1 ore:1 prior:1 conservatively:1 could:1 without:1 development:1 cost:1 december:1 31:1 1985:1 978:1 000:1 194:1 two:1
|
SIGMA MINES DETAILS GOLD ORE RESERVES
<Sigma Mines (Quebec) Ltd>, 65 pct
owned by Dome Mines Ltd, said its Sigma Mine had proven and
probable reserves at the end of 1986 of 4,902,940 tons, with an
average grade of 0.139 ounces of gold a ton.
Sigma said the reserves are equivalent to 10 years future
production at current milling rates.
The reserves comprise 1,640,779 tons proven reserves
grading an average of 0.163 ounces of gold a ton and 3,262,161
tons probable reserves grading an average of 0.127 ounces of
gold a ton.
Sigma said it changed its 1986 reserve reporting method
following Dome Mines' previously reported move to adopt general
industry practice of reporting proven and probable ore
reserves.
Prior to 1986, Sigma conservatively reported only proven
reserves that could be mined without future development costs.
Proven reserves as of December 31, 1985 were 978,000 tons
grading an average of 0.194 ounces of gold a ton, equivalent to
about two years future production.
|
training/3707
|
training/3707 |@title moore:1 mccormack:1 mmc:1 sell:1 globe:1 unit:1 |@word moore:1 mccormack:1 resources:1 inc:2 say:1 agree:1 principle:1 sell:1 globe:2 metallurgical:1 unit:1 cyprus:1 minerals:1 co:1 cypm:1 undisclosed:1 term:1 sale:1 expect:1 close:1 mid:1 april:1 subject:1 certain:1 condition:1 include:1 board:1 approval:1 companies:1 produce:1 silicon:1 metal:1 magnesium:1 ferrosilicon:1 product:1 use:1 chemical:1 aluminum:1 iron:1 rubber:1 semiconductor:1 industry:1
|
MOORE MCCORMACK <MMC> TO SELL GLOBE UNIT
Moore McCormack Resources Inc said it
agreed in principle to sell its Globe Metallurgical Inc unit to
Cyprus Minerals Co <CYPM> for undisclosed terms.
The sale, expected to close by mid-April, is subject to
certain conditions, including board approval at both companies.
Globe produces silicon metals and magnesium ferrosilicon.
The products are used in the chemical, aluminum, iron, rubber
and semiconductor industries.
|
training/3708
|
training/3708 |@title u:2 hosuing:1 completion:1 fall:1 0:1 2:1 pct:1 january:1 |@word completion:3 new:1 home:1 fall:3 0:2 2:1 pct:5 january:5 seasonally:2 adjust:2 rate:2 1:7 884:1 mln:6 unit:8 888:1 december:2 commerce:1 department:2 say:2 come:1 strong:1 6:2 4:2 rise:2 november:1 774:1 bring:1 7:1 1986:1 level:1 765:1 single:1 family:2 183:1 178:1 multi:1 3:1 701:1 000:1
|
U.S. HOSUING COMPLETIONS FELL 0.2 PCT IN JANUARY
U.S. Completions of new homes fell
0.2 pct in January to a seasonally adjusted rate of 1.884 mln
units from 1.888 mln in December, the Commerce Department said.
The January fall came after a strong 6.4 pct rise from
November's rate of 1.774 mln units and brought completions to
6.7 pct above the January, 1986 level of 1.765 mln units.
In January, completions of single-family units rose 0.4 pct
to a seasonally adjusted 1.183 mln units from 1.178 mln units
in December while multi-family units fell 1.3 pct to 701,000
units in January, the department said.
|
training/371
|
training/371 |@title dale:1 burdett:1 inc:1 face:1 damage:1 claim:1 |@word dale:2 burdett:6 inc:4 say:3 face:1 damage:3 claim:2 total:1 420:1 000:1 dlrs:1 former:2 owner:2 publications:3 company:1 february:2 20:2 1986:2 predecessor:1 nolex:2 development:1 acquire:1 exchange:2 17:1 mln:1 common:1 share:3 publication:1 transaction:1 qualified:1 california:1 department:1 corporation:1 result:1 successor:1 one:1 yuear:1 start:1 january:1 21:1 1987:1 measure:1 difference:1 value:1 plus:1 interest:1
|
<DALE BURDETT INC> FACES DAMAGE CLAIM
Dale Burdett Inc said it
faces damages claims totalling about 420,000 dlrs from the
former owners of Burdett Publications Inc.
The company said on February 20, 1986, its predecessor
Nolex Development Inc acquired Burdett Publications Inc in an
exchange of 17 mln common shares for all Burdett Publications
shares, but the transaction was not qualified with the
California Department of Corporations.
As a result, it said, the former Burdett Publications
owners have a claim for damages against Dale Burdett as
successor to Nolex for one yuear starting January 21, 1987,
with the damages measured by the difference in values of shares
exchanged plus interest from February 20, 1986.
|
training/3711
|
training/3711 |@title u:1 justice:1 department:1 reviews:1 icahn:1 usair:1 filing:1 |@word u:3 department:3 justice:1 doj:3 review:3 whether:1 trans:1 world:1 airlines:1 inc:2 twa:2 chairman:2 carl:1 icahn:5 violate:1 federal:2 antitrust:3 law:2 fail:2 seek:1 advance:1 clearance:1 trade:1 commission:1 extensive:1 open:1 market:1 purchase:2 usair:3 group:1 stock:2 official:1 tell:2 senate:2 panel:2 matter:1 look:1 charles:1 rule:5 act:3 assistant:1 attorney:1 general:1 judiciary:1 committee:1 subcommittee:1 decline:1 comment:1 continue:1 respond:1 howard:1 metzenbaum:2 ohio:1 ask:1 appear:1 clear:1 violation:2 say:2 file:3 pre:1 merger:2 notification:1 form:2 ftc:1 prior:1 15:1 mln:1 dlrs:1 worth:1 airline:1 company:1 purchaser:1 would:1 exempt:1 requirement:1 instead:1 application:4 transportation:1 dot:3 filing:1 throw:2 friday:2 late:1 ground:1 lack:1 necessary:1 datum:1 government:1 propose:1 takeover:1 bid:1 refile:1 complete:1 monday:1 pledge:1 find:1
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U.S. JUSTICE DEPARTMENT REVIEWS ICAHN USAIR FILING
The U.S. Department of Justice (DOJ)
is reviewing whether Trans World Airlines Inc <TWA> and
Chairman Carl Icahn violated federal antitrust law by failing
to seek advance clearance from the DOJ or the Federal Trade
Commission for his extensive open-market purchases of USAir
Group Inc <U> stock, a DOJ official told a Senate panel.
'This is a matter that is being looked into,' Charles Rule,
acting assistant attorney general-antitrust, told the Senate
Judiciary Committee's Antitrust Subcommittee.
Rule declined further comment while the review was
continuing.
Rule was responding to panel Chairman Howard Metzenbaum
(D-Ohio), who had asked why the department was not acting
against 'what appears to be a clear violation of the law.'
Metzenbaum said Icahn had failed to file a pre-merger
notification form with the FTC prior to purchasing more than 15
mln dlrs' worth of USAir stock.
But Rule said that, for airline companies, a purchaser
would be exempt from the requirement if it instead had filed a
merger application with the U.S. Department of Transportation.
Icahn filed such an application with the DOT, but the
filing was thrown out by the DOT on Friday.
The DOT threw out the application late Friday on grounds it
lacked the necessary data for the government to review the
proposed USAir takeover bid.
Icahn refiled a more complete application form Monday.
Rule pledged to act against Icahn and TWA if a violation
were found.
|
training/3713
|
training/3713 |@title cell:1 sciences:1 inc:1 tcel:1 3rd:1 qtr:1 jan:1 31:1 loss:1 |@word shr:2 loss:8 one:1 ct:4 vs:8 16:1 net:2 117:1 989:1 528:1 394:1 revs:1 820:1 484:1 35:1 186:1 avg:2 shrs:2 8:1 226:1 577:1 3:2 150:2 000:2 nine:1 mth:1 seven:1 37:1 527:1 864:1 1:2 177:1 434:1 rev:1 975:1 487:1 90:1 875:1 7:1 277:1 418:1
|
T CELL SCIENCES INC <TCEL> 3RD QTR JAN 31 LOSS
Shr loss one ct vs loss 16 cts
Net loss 117,989 vs loss 528,394
Revs 820,484 vs 35,186
Avg shrs 8,226,577 vs 3,150,000
Nine mths
Shr loss seven cts vs loss 37 cts
Net loss 527,864 vs loss 1,177,434
Revs 1,975,487 vs 90,875
Avg shrs 7,277,418 vs 3,150,000
|
training/3717
|
training/3717 |@title dutch:1 adjusted:1 unemployment:1 unchanged:1 february:1 |@word dutch:1 seasonally:1 adjust:1 unemployment:1 total:2 690:1 600:1 people:1 february:3 unchanged:1 january:2 732:1 700:2 1986:1 social:1 affairs:1 ministry:1 spokesman:1 say:1 unadjusted:1 figure:1 stand:1 708:1 end:2 last:2 month:1 decline:1 3:1 800:1 712:1 500:1 compare:1 750:1 000:1 year:1
|
DUTCH ADJUSTED UNEMPLOYMENT UNCHANGED IN FEBRUARY
Dutch seasonally-adjusted
unemployment totalled 690,600 people in February, unchanged
from January but down from 732,700 in February 1986, a Social
Affairs Ministry spokesman said.
The unadjusted figure stood at 708,700 at the end of last
month, a decline of 3,800 from the January total of 712,500 and
comparing with 750,000 at the end of February last year.
|
training/372
|
training/372 |@title purolator:1 pcc:1 buyout:1 hutton:1 efh:1 |@word new:2 jersey:1 base:1 overnight:1 messenger:1 purolator:12 courier:11 corp:1 say:10 agree:2 acquire:2 265:1 mln:5 dlrs:11 company:7 form:2 e:3 f:3 hutton:10 lbo:3 inc:3 certain:2 manager:1 u:6 business:5 analyst:3 sale:2 time:1 announce:1 earlier:1 mull:1 takeover:1 bid:1 wrongly:1 predict:1 offer:5 another:1 wholly:1 subsidiary:4 group:1 majority:1 owner:1 pc:5 acquisition:4 pay:2 35:2 cash:2 per:2 share:6 83:1 pct:2 stock:5 tender:4 begin:2 thursday:2 rest:1 purchase:1 security:1 warrant:4 buy:3 contain:2 operation:2 shareholder:2 would:3 receive:1 29:1 six:1 debenture:2 operations:1 merger:1 get:1 46:1 aggregate:1 amount:1 guarantee:1 due:2 2002:1 15:1 common:2 value:1 two:4 three:1 price:2 close:1 125:1 friday:1 estimate:1 worth:2 mid:1 30:1 least:1 one:1 38:1 42:1 follow:1 unit:2 recently:1 sell:2 canadian:1 onex:1 capital:1 170:1 previously:1 auto:1 filter:1 retain:1 stant:2 division:2 make:1 closure:1 cap:1 radiator:1 gas:1 tank:1 spokesman:1 firm:1 review:1 option:1 lag:1 rival:1 high:1 past:1 several:1 year:2 add:1 air:1 delivery:1 ground:1 fleet:1 provide:1 279:1 fund:1 complete:1 transaction:1 call:1 bridge:1 financing:1 replace:1 later:1 long:1 term:1 debt:1 likely:1 bank:1 loan:1 commit:1 keep:1 president:1 warren:1 idsal:2 lose:1 120:1 last:1 largely:1 believe:1 management:1 turn:1 around:1 belive:1 serious:1 competitor:1 future:1 william:1 taggart:1 chief:2 executive:2 officer:2 condition:2 minimum:1 third:1 withdraw:1 expiration:1 well:1 subject:1 clearance:1 staff:1 interstate:1 commerce:1 commission:1 expire:1 20:1 day:1 commencement:1 unless:1 extend:1
|
PUROLATOR <PCC> IN BUYOUT WITH HUTTON <EFH>
New Jersey-based overnight messenger
Purolator Courier Corp said it has agreed to be acquired for
about 265 mln dlrs by a company formed by E.F. Hutton LBO Inc
and certain managers of Purolator's U.S. courier business.
Analysts have said that Purolator has been for sale for
some time. Purolator announced earlier it was mulling a
takeover bid, but analysts wrongly predicted the offer was from
another courier company.
Hutton LBO, a wholly owned subsidiary of E.F. Hutton Group
Inc, will be majority owner of the company.
Hutton said the acquiring company, PC Acquisition Inc, is
paying 35 dlrs cash per share for 83 pct of Purolator's stock
in a tender offer to begin Thursday. The rest of the shares
will be purchased for securities and warrants to buy stock in a
subsidiary of PC Acquisition, containing Purolator's U.S.
courier operations.
If all the shares of Purolator are tendered, shareholders
would receive for each share 29 dlrs cash, six dlrs in
debentures, and a warrant to buy shares in a subsidiary of PC
Acquisition containing the U.S. courier operations.
Hutton said in the merger shareholders would get 46 mln
dlrs aggregate amount of guaranteed debentures due 2002 of PC
Acquisition and warrants to buy 15 pct of the common stock of
the PC courier subsidiary. Hutton said the company has valued
the warrants at two to three dlrs per share.
Purolator's stock price closed at 35.125 dlrs on Friday.
While some analysts estimated the company was worth in the mid
30s, at least one said it would be worth 38 to 42 dlrs.
This follows sales of two other Purolator units. It agreed
recently to sell its Canadian Courier unit to Onex Capital for
170 mln dlrs, and previously sold its auto filters business.
Purolator retains its Stant division, which makes closure
caps for radiators and gas tanks. A Hutton spokesman said the
firm is reviewing its options on Stant.
Purolator's courier business has been lagging that of its
U.S. rivals because of the high price it paid in the past
several years to add air delivery to its ground fleet.
E.F. Hutton will provide 279 mln dlrs of its funds to
complete the transaction. This so-called 'bridge' financing
will be replaced later with long-term debt most likely in the
form of bank loans, Hutton said. Hutton LBO is committed to
keeping the courier business, its president Warren Idsal said.
'Purolator lost 120 mln dlrs over the last two years
largely due to U.S. courier operations, which we believe the
management is turning around. We belive it will be a very
serious competitor in the future,' said Idsal.
William Taggart, chief executive officer of U.S. Courier
division, will be chief executive officer of the new company.
The tender offer will be conditioned on a minimum of two
thirds of the common stock being tendered and not withdrawn to
the expiration of the offer as well as certain other conditions.
The offer will begin Thursday, subject to clearances from
the staff of the Interstate Commerce Commission and will expire
20 business days after commencement unless extended.
|
training/3720
|
training/3720 |@title u:1 housing:1 completion:1 fall:1 0:1 2:1 pct:1 jan:1 |@word completion:3 new:1 home:1 fall:3 0:2 2:1 pct:5 january:5 seasonally:2 adjust:2 rate:2 1:7 884:1 mln:6 unit:8 888:1 december:2 commerce:1 department:2 say:2 come:1 strong:1 6:2 4:2 rise:2 november:1 774:1 bring:1 7:1 1986:1 level:1 765:1 single:1 family:2 183:1 178:1 multi:1 3:1 701:1 000:1
|
U.S. HOUSING COMPLETIONS FELL 0.2 PCT IN JAN
Completions of new homes fell 0.2
pct in January to a seasonally adjusted rate of 1.884 mln units
from 1.888 mln in December, the Commerce Department said.
The January fall came after a strong 6.4 pct rise from
November's rate of 1.774 mln units and brought completions to
6.7 pct above the January, 1986, level of 1.765 mln units.
In January, completions of single-family units rose 0.4 pct
to a seasonally adjusted 1.183 mln units from 1.178 mln units
in December while multi-family units fell 1.3 pct to 701,000
units in January, the department said.
|
training/3721
|
training/3721 |@title mitchell:1 energy:1 development:1 corp:1 mnd:1 net:1 |@word 4th:1 qtr:1 jan:1 31:1 shr:2 five:1 ct:3 vs:8 28:1 net:2 2:2 448:1 000:2 13:1 3:2 mln:10 revs:2 156:1 1:2 225:1 5:1 avg:2 shrs:2 47:4 8:2 year:1 18:1 01:1 dlrs:1 430:1 48:1 587:1 9:3 843:1 4:1
|
MITCHELL ENERGY AND DEVELOPMENT CORP <MND> NET
4th qtr Jan 31
Shr five cts vs 28 cts
Net 2,448,000 vs 13.3 mln
Revs 156.1 mln vs 225.5 mln
Avg shrs 47.3 mln vs 47.8 mln
Year
Shr 18 cts vs 1.01 dlrs
Net 8,430,000 vs 48.2 mln
Revs 587.9 mln vs 843.9 mln
Avg shrs 47.4 mln vs 47.9 mln
|
training/3723
|
training/3723 |@title u:2 housing:1 completion:1 fall:1 0:1 2:1 pct:1 january:1 |@word completion:3 new:1 home:1 fall:3 0:2 2:1 pct:5 january:5 seasonally:2 adjust:2 rate:2 1:7 884:1 mln:6 unit:8 888:1 december:2 commerce:1 department:2 say:2 come:1 strong:1 6:2 4:2 rise:2 november:1 774:1 bring:1 7:1 1986:1 level:1 765:1 single:1 family:2 183:1 178:1 multi:1 3:1 701:1 000:1
|
U.S. HOUSING COMPLETIONS FELL 0.2 PCT IN JANUARY
U.S. Completions of new homes fell
0.2 pct in January to a seasonally adjusted rate of 1.884 mln
units from 1.888 mln in December, the Commerce Department said.
The January fall came after a strong 6.4 pct rise from
November's rate of 1.774 mln units and brought completions to
6.7 pct above the January, 1986 level of 1.765 mln units.
In January, completions of single-family units rose 0.4 pct
to a seasonally adjusted 1.183 mln units from 1.178 mln units
in December while multi-family units fell 1.3 pct to 701,000
units in January, the department said.
|
training/3729
|
training/3729 |@title fed:4 set:2 two:2 billion:2 dlr:2 customer:2 repurchase:2 say:2 |@word
|
FED SETS TWO BILLION DLR CUSTOMER REPURCHASE, FED SAYS
FED SETS TWO BILLION DLR CUSTOMER REPURCHASE, FED SAYS
|
training/3730
|
training/3730 |@title groundwater:1 technology:1 inc:1 gwti:1 3rd:1 qtr:1 jan:1 31:1 |@word shr:2 19:1 ct:4 vs:8 12:2 net:2 850:2 000:10 432:1 sale:2 9:1 4:3 783:1 avg:2 shrs:2 504:1 3:2 527:1 nine:1 mth:1 57:1 37:1 2:2 400:1 1:1 281:1 25:1 mln:2 8:1 233:1 485:1
|
GROUNDWATER TECHNOLOGY INC <GWTI> 3RD QTR JAN 31
Shr 19 cts vs 12 cts
Net 850,000 vs 432,000
Sales 9,850,000 vs 4,783,000
Avg shrs 4,504,000 vs 3,527,000
Nine mths
Shr 57 cts vs 37 cts
Net 2,400,000 vs 1,281,000
Sales 25.2 mln vs 12.8 mln
Avg shrs 4,233,000 vs 3,485,000
|
training/3734
|
training/3734 |@title seven:1 oaks:1 international:1 inc:1 qpon:1 payout:1 |@word qtly:1 div:1 four:2 ct:2 vs:1 prior:1 pay:1 april:1 15:1 record:1 march:1 23:1
|
SEVEN OAKS INTERNATIONAL INC <QPON> IN PAYOUT
Qtly div four cts vs four cts prior
Pay April 15
Record March 23
|
training/3735
|
training/3735 |@title fed:1 add:1 reserve:1 via:1 customer:1 repurchase:1 |@word federal:2 reserve:2 enter:1 u:1 government:1 security:1 market:1 arrange:1 two:1 billion:1 dlrs:1 customer:1 repurchase:1 agreement:1 fed:2 spokesman:1 say:2 dealer:1 fund:1 trade:1 6:1 5:1 16:1 pct:1 begin:1 temporary:1 indirect:1 supply:1 banking:1 system:1
|
FED ADDS RESERVES VIA CUSTOMER REPURCHASES
The Federal Reserve entered the U.S.
Government securities market to arrange two billion dlrs of
customer repurchase agreements, a Fed spokesman said.
Dealers said Federal funds were trading at 6-5/16 pct when
the Fed began its temporary and indirect supply of reserves to
the banking system.
|
training/3737
|
training/3737 |@title china:1 buy:1 u:1 hard:1 soft:1 wheat:1 |@word private:1 exporter:2 say:2 china:1 buy:1 total:2 550:1 000:3 tonne:3 u:2 wheat:2 export:1 enhancement:1 program:1 final:1 confirmation:1 department:1 agriculture:1 subsidy:1 still:1 await:1 purchase:1 consist:1 340:1 hard:1 red:2 winter:2 various:1 may:1 aug:2 shipment:1 210:1 soft:1 sept:1
|
CHINA BUYS U.S. HARD AND SOFT WHEAT
Private exporters said China bought a
total of 550,000 tonnes of U.S. wheat under the export
enhancement program, with final confirmation by the U.S.
Department of Agriculture of the subsidies still awaited.
The purchase consisted of a total of 340,000 tonnes of hard
red winter wheat for various May/Aug shipments, with 210,000
tonnes of soft red winter for Aug/Sept, the exporters said.
|
training/3738
|
training/3738 |@title property:1 trust:1 america:1 ptras:1 year:1 net:1 |@word ope:1 shr:1 63:1 ct:2 vs:5 80:1 oper:1 net:2 3:2 169:1 000:7 757:1 revs:1 9:1 585:1 10:1 2:1 mln:1 avg:1 shrs:1 5:1 070:1 4:1 721:1 note:1 exclude:1 gain:1 sale:1 investment:1 887:1 dlrs:2 304:1
|
PROPERTY TRUST OF AMERICA <PTRAS> YEAR NET
Ope shr 63 cts vs 80 cts
Oper net 3,169,000 vs 3,757,000
Revs 9,585,000 vs 10.2 mln
Avg shrs 5,070,000 vs 4,721,000
NOTE: Net excludes gains from sale of investments of
887,000 dlrs vs 304,000 dlrs.
|
training/374
|
training/374 |@title pakistan:1 cotton:1 output:1 reach:1 7:2 mln:1 bale:1 |@word pakistan:3 cotton:7 production:1 current:3 crop:1 season:2 sept:1 march:1 reach:1 7:2 mln:10 bale:5 375:1 pound:1 500:1 000:1 last:3 shafi:1 niaz:1 chairman:1 agricultural:1 price:1 commission:1 say:5 official:1 source:1 likely:2 use:1 3:4 4:1 financial:1 year:6 end:1 june:1 2:2 96:1 1985:2 86:3 70:1 1984:1 85:1 consumption:1 would:2 increase:1 due:1 rise:1 demand:1 yarn:2 domestic:1 market:1 abroad:1 produce:1 540:1 kilo:1 fiscal:3 export:3 157:1 state:1 corporation:1 8:1 compare:2 trader:2 1:1 carryover:1
|
PAKISTAN COTTON OUTPUT REACHES 7.7 MLN BALES
Pakistan cotton production during the
current crop season (Sept/March) reached 7.7 mln bales of 375
pounds each, up 500,000 from last season, Shafi Niaz, Chairman
of the Agricultural Prices Commission, said.
Official sources said Pakistan was likely to use 3.4 mln
bales of cotton during the current financial year ending June
after 2.96 mln in 1985/86 and 2.70 mln in 1984/85.
They said consumption would increase due to a rise in
demand for cotton yarn in domestic markets and abroad. Pakistan
produced 540 mln kilos of yarn in fiscal year 1985/86 and
exported 157 mln.
The State-owned cotton export corporation was likely to
export 3.8 mln bales of cotton during the current fiscal year
compared with 3.86 mln last year, cotton traders said.
The traders said there would be 1.3 mln bales of cotton
carryover this fiscal year compared with just over a mln bales
last year.
|
training/3740
|
training/3740 |@title chi:2 inc:1 chic:1 3rd:1 qtr:1 jan:1 31:1 loss:1 |@word shr:2 loss:4 38:2 ct:4 vs:6 profit:4 eight:1 net:4 10:2 4:2 mln:7 2:1 144:1 317:1 revs:2 72:1 9:1 67:1 nine:1 mth:1 21:2 5:1 747:1 393:1 1:1 224:1 6:2 200:1 note:1 current:2 year:3 period:1 include:2 20:1 0:1 dlr:1 pretax:1 charge:1 disposition:1 underperform:1 company:1 restaurant:1 tax:1 credit:1 3:1 205:1 000:2 dlrs:2 quarter:1 7:1 305:1
|
CHI-CHI'S INC <CHIC> 3RD QTR JAN 31 LOSS
Shr loss 38 cts vs profit eight cts
Net loss 10.4 mln vs profit 2,144,317
Revs 72.9 mln vs 67.4 mln
Nine mths
Shr loss 21 cts vs profit 38 cts
Net loss 5,747,393 vs profit 10.1 mln
Revs 224.6 mln vs 200.6 mln
NOTE: Current year net both periods includes 20.0 mln dlr
pretax charge for disposition of 21 underperforming
company-owned restaurants.
Current year net includes tax credits of 3,205,000 dlrs in
quarter and 7,305,000 dlrs in year.
|
training/3741
|
training/3741 |@title chemlawn:2 corp:2 say:2 talk:2 new:2 suitor:2 acquire:2 |@word
|
CHEMLAWN CORP SAID IT IS TALKING WITH NEW SUITORS ABOUT BEING ACQUIRED
CHEMLAWN CORP SAID IT IS TALKING WITH NEW SUITORS ABOUT BEING ACQUIRED
|
training/3742
|
training/3742 |@title chi:2 chic:1 take:1 20:1 mln:1 dlr:1 charge:1 |@word chi:6 inc:1 say:4 take:1 20:1 mln:5 dlr:2 pretax:3 charge:2 earning:2 third:2 quarter:2 end:2 january:2 31:2 cover:1 cost:1 dispose:1 21:1 underperform:1 company:4 restaurant:2 also:1 agree:1 repurchase:2 three:1 common:1 share:3 open:1 market:1 27:1 1:1 outstanding:1 today:1 report:1 loss:1 7:1 305:1 000:1 tax:1 credit:1 10:1 4:1 dlrs:3 compare:1 year:2 early:1 profit:1 2:1 144:1 317:1 believe:1 disposition:1 potential:1 increase:1 two:1 next:1 fiscal:1 use:1 exist:1 cash:1 resource:1
|
CHI-CHI'S <CHIC> TAKES 20 MLN DLR CHARGE
Chi-Chi's Inc said it has taken
a 20 mln dlr pretax charge against earnings for the third
quarter ended January 31 to cover the cost of disposing of 21
'underperforming' company-owned restaurants.
The company also said it has agreed to repurchase up to
three mln common shares on the open market.
The company now has about 27.1 mln shares outstanding.
Chi-Chi's today reported a loss for the third quarter ended
January 31, after the pretax charge and a 7,305,000 dlr tax
credit, of 10.4 mln dlrs, compared with a year-earlier profit
of 2,144,317 dlrs.
Chi-Chi's said it believes the disposition of the
restaurants has the potential of increasing its pretax earnings
by about two mln dlrs next fiscal year.
The company said it will use existing cash resources for
the share repurchases.
|
training/3743
|
training/3743 |@title dupont:1 dd:1 recommendation:1 |@word share:7 du:3 pont:3 co:1 rise:2 today:1 accumulate:1 recommendation:1 shearson:2 lehman:1 brothers:1 first:4 boston:2 trader:1 say:2 open:1 two:1 point:1 gain:1 stand:1 109:1 1:5 8:2 analyst:2 available:1 comment:1 theodore:1 semegran:2 raise:2 earning:4 estimate:1 company:3 7:1 25:1 dlrs:6 1987:1 eight:1 1988:1 earn:1 6:1 35:1 1986:1 good:1 domestic:1 demand:1 high:1 operating:1 strng:1 export:1 business:1 probably:1 benefit:1 low:2 dollar:1 effect:1 reduce:1 import:1 chemical:1 continue:1 aid:1 also:2 note:1 energy:1 quarter:2 well:1 expect:3 crude:1 price:1 85:1 67:1 last:1 year:1 annual:1 dividend:2 20:2 30:1 ct:1 current:1 3:1 stock:1 split:1 possible:1 probablility:1
|
DUPONT <DD> UP ON RECOMMENDATIONS
Shares of Du Pont Co rose today after
accumulating recommendations from Shearson Lehman Brothers and
First Boston, traders said.
Du Pont, which opened with a two point gain, stood at
109-1/8, up 1-1/8.
First Boston's analyst was not available for comment.
Analyst Theodore Semegran of Shearson said he raised his
earnings estimates for the company to 7.25 dlrs a share in 1987
and eight dlrs a share in 1988. The company earned 6.35 dlrs a
share in 1986.
'Good domestic demand, higher operating earnings and a
strng export business, probably benefitting from a lower dollar
and effects of reduced imports in chemicals will continue to
aid Du Pont.' He also noted that energy earnings in the first
quarter are better than expected because of the rise in crude
prices. Semegran expects first quarter earnings
of about 1.85 dlrs a share from 1.67 dlrs last year.
He also expects the company to raise its annual dividend
about 20 to 30 cts a share, from its current dividend of 3.20
dlrs a share, 'and a stock split is possible but it has a low
probablility.'
|
training/3744
|
training/3744 |@title chemlawn:1 chem:1 talk:1 acquire:1 |@word chemlawn:2 corp:1 say:2 start:1 talk:3 possible:1 sale:1 company:2 various:1 party:1 identify:1 begin:1 considre:1 reject:1 waste:1 management:1 inc:1 wmx:1 27:1 dlr:1 per:1 share:1 tender:1 offer:1 sharesd:1 give:1 detail:1
|
CHEMLAWN <CHEM> IN TALKS ON BEING ACQUIRED
ChemLawn Corp said it has
started talks on the possible sale of the company with 'various
parties' that it did not identify.
The company said the talks began after it considred and
rejected Waste Management Inc's <WMX> 27 dlr per share tender
offer for all its sharesd.
ChemLawn gave no details on the talks.
|
training/3747
|
training/3747 |@title shv:2 withdraw:1 ic:1 gas:1 offer:1 |@word holdings:1 nv:1 say:3 withdraw:1 take:1 bid:2 imperial:1 continental:1 gas:5 association:1 icgs:1 l:1 fail:1 gain:2 minimum:1 number:1 pledge:1 seek:2 ic:4 shareholder:1 shv:3 statement:1 750:1 000:1 share:1 700p:1 offer:3 ordinary:1 stock:2 inform:1 level:1 reach:1 deadline:1 expire:1 tender:1 therefore:1 void:1 also:1 252:1 penny:1 every:1 one:1 stg:1 nominal:1 loan:1 make:1 united:1 kingdom:1 holding:1 co:1 ltd:1
|
SHV WITHDRAWS IC GAS OFFER
SHV Holdings NV said it is
withdrawing its take-over bid for Imperial Continental Gas
Association <ICGS.L> after failing to gain the minimum number
of pledges sought from IC Gas shareholders.
SHV said in a statement it had sought to gain 750,000 IC
Gas shares under a 700p offer for IC Gas ordinary stock but was
informed that level was not reached when the deadline expired.
'The tender offer is therefore void,' it said.
SHV also offered 252 pence for every one stg nominal of IC
Gas loan stock under the bid, made by <SHV (United Kingdom)
Holding Co Ltd>.
|
training/3748
|
training/3748 |@title progress:1 rubber:1 pact:1 talk:1 report:1 slow:1 |@word negotiator:1 united:1 nations:1 conference:4 natural:2 rubber:3 make:1 slow:1 progress:1 towards:1 reach:1 agreement:2 delegate:2 say:3 begin:1 monday:1 widely:1 see:1 final:1 effort:1 adopt:1 new:1 international:2 inra:1 current:1 one:1 expire:1 october:1 40:1 produce:1 consume:1 country:1 take:1 part:1 two:2 week:3 meeting:1 fourth:1 nearly:1 year:1 side:1 still:1 appear:1 divide:1 key:1 issue:2 price:4 adjustment:3 mechanism:1 consumer:2 want:1 frequent:1 review:1 12:1 month:2 interval:1 instead:1 18:1 present:1 proposal:1 currently:1 reject:1 producer:2 press:1 automatic:1 resist:1 reduce:1 role:1 organization:1 council:1 procedure:1 chairman:1 manaspas:1 xuto:1 thailand:1 imperative:1 settle:1 outstanding:1 technical:1 draft:1 work:1 next:1
|
PROGRESS AT RUBBER PACT TALKS REPORTED SLOW
Negotiators at a United Nations
conference on natural rubber are making slow progress towards
reaching an agreement, delegates said.
The conference, which began Monday, is widely seen as the
final effort to adopt a new International Natural Rubber
Agreement (INRA) before the current one expires in October.
Some 40 producing and consuming countries are taking part
in the two-week meeting. This is the fourth such conference in
nearly two years.
Delegates said both sides still appeared divided on the key
issue of the price adjustment mechanism.
Consumers want frequent price reviews at 12 month intervals
instead of 18 months as at present, a proposal currently
rejected by producers.
And while consumers press for the price adjustment to be
automatic, producers have resisted reducing the role of the
International Rubber Organization Council in the price
adjustment procedure.
Conference chairman Manaspas Xuto of Thailand has said it
was 'imperative' to settle outstanding issues this week so that
technical drafting work can be done next week.
|
training/3750
|
training/3750 |@title lord:2 abbett:2 co:1 declare:1 mutual:1 fund:2 divs:1 value:1 appreciation:1 |@word annual:1 div:2 33:1 ct:13 vs:8 23:1 prior:8 long:1 term:2 capital:2 gain:2 2:1 06:1 75:1 short:1 18:1 11:1 pay:6 april:11 6:1 record:6 march:1 12:1 lord:5 abbett:5 u:1 government:1 securities:1 fund:4 daily:5 029:2 15:10 tax:4 free:4 income:4 national:1 series:3 068:2 ny:1 067:2 texas:1 059:2 california:1 062:1 063:1
|
LORD ABBETT AND CO DECLARES MUTUAL FUND DIVS
LORD ABBETT VALUE APPRECIATION FUND
Annual div 33 cts vs 23 cts prior
Long term capital gain 2.06 vs 75 cts prior
Short term capital gain 18 cts vs 11 cts prior
Pay April 6
Record March 12
LORD ABBETT U.S. GOVERNMENT SECURITIES FUND
Daily div .029 cts vs .029 cts prior
Pay April 15
Record April 15
LORD ABBETT TAX FREE INCOME NATIONAL SERIES
Daily .068 cts vs .068 prior
Pay April 15
Record April 15
LORD ABBETT TAX FREE INCOME FUND NY SERIES
Daily .067 cts vs .067 cts prior
Pay April 15
Record April 15
LORD ABBETT TAX FREE INCOME FUND TEXAS SERIES
Daily .059 cts vs .059 cts prior
Pay April 15
Record April 15
LORD ABBETT CALIFORNIA TAX FREE INCOME FUND
Daily .062 vs .063 cts prior
Pay April 15
Record April 15
|
training/3751
|
training/3751 |@title associates:1 corp:1 north:1 america:1 1st:1 qtr:1 net:1 |@word qtr:1 end:1 jan:1 31:1 net:1 55:1 3:1 mln:6 dlrs:4 vs:3 51:1 7:2 revs:1 419:1 1:1 391:1 note:1 rev:1 include:1 investment:1 income:1 18:2 4:1 5:1 company:1 wholly:1 gulf:1 western:1 corp:1 gw:1
|
<ASSOCIATES CORP OF NORTH AMERICA> 1ST QTR NET
Qtr ended Jan 31
Net 55.3 mln dlrs vs 51.7 mln dlrs
Revs 419.1 mln vs 391.7 mln
Note: Revs include investment and other income of 18.4 mln
dlrs vs 18.5 mln dlrs.
Company is wholly owned by Gulf and Western Corp <GW>.
|
training/3755
|
training/3755 |@title newport:1 pharmaceuticals:1 nwph:1 3rd:1 qtr:1 loss:1 |@word period:1 end:1 january:1 31:1 shr:1 loss:6 six:1 ct:4 vs:8 profit:2 one:1 net:2 536:1 000:12 166:1 revs:2 2:1 099:1 3:1 149:1 avg:2 shrs:2 10:2 429:1 9:2 943:1 nine:2 mth:1 shre:1 five:1 790:1 377:1 7:2 089:1 646:1 406:1 351:1 note:1 full:1 name:1 newport:1 pharmaceuticals:1 international:1 inc:1
|
NEWPORT PHARMACEUTICALS <NWPH> 3RD QTR LOSS
Period ended January 31.
Shr loss six cts vs profit one ct
Net loss 536,000 vs profit 166,000
Revs 2,099,000 vs 3,149,000
Avg shrs 10,429,000 vs 9,943,000
Nine Mths
Shre loss nine cts vs loss five cts
Net loss 790,000 vs loss 377,000
Revs 7,089,000 vs 7,646,000
Avg shrs 10,406,000 vs 9,351,000
Note: Full name Newport Pharmaceuticals International Inc.
|
training/3757
|
training/3757 |@title raymond:1 corp:1 raym:1 declare:1 qtly:1 div:1 |@word qtly:1 div:1 11:2 3:2 4:2 ct:2 vs:1 prior:1 pay:1 march:2 27:1 record:1 13:1
|
THE RAYMOND CORP <RAYM> DECLARES QTLY DIV
Qtly div 11-3/4 cts vs 11-3/4 cts prior
Pay March 27
Record March 13
|
training/3758
|
training/3758 |@title mitchell:1 energy:1 mnd:1 cut:1 capital:1 outlay:1 |@word mitchell:3 energy:3 development:1 corp:1 say:5 plan:1 hold:1 capital:1 spending:1 fiscal:3 1988:2 end:1 january:1 31:1 96:1 mln:3 dlrs:4 123:1 spend:1 1987:2 213:1 1986:1 company:1 also:1 natural:1 gas:3 revenue:1 far:1 year:3 reduce:1 low:3 contract:2 customer:1 purchase:1 due:1 mild:1 weather:1 soft:1 economic:1 condition:1 call:1 take:1 make:1 course:1 meanwhile:1 sell:1 additional:2 quantity:1 spot:2 market:1 sale:1 tend:1 lower:1 average:3 price:1 realize:1 early:1 part:1 however:1 full:1 expect:1 significantly:1 2:1 99:1 per:1 thousand:1 cubic:1 foot:1
|
MITCHELL ENERGY <MND> AGAIN CUTS CAPITAL OUTLAYS
Mitchell Energy and
Development Corp said it plans to hold its capital spending in
fiscal 1988, ending January 31, to 96 mln dlrs, down from the
123 mln dlrs spent in 1987 and 213 mln dlrs in 1986.
The company also said its natural gas revenues so far this
year have been reduced by lower contract customer purchases due
to mild weather and soft economic conditions.
'But the contracts call for the lower 'takes' to be made up
during the course of the year,' Mitchell Energy said. Meanwhile
it will sell additional quantities of gas on the spot market.
Mitchell Energy said the additional spot sales will tend to
lower the average price realized for gas in the early part of
fiscal 1988.
However, it said the average for the full year is not
expected to be significantly lower than the 2.99 dlrs per
thousand cubic feet averaged in fiscal 1987.
|
training/3759
|
training/3759 |@title investor:1 take:1 control:1 river:1 oak:1 roi:1 |@word river:5 oaks:1 industries:1 inc:1 say:9 agree:1 principle:1 give:2 control:1 company:8 benson:1 seizer:6 new:2 york:1 investor:1 return:1 2:3 6:3 mln:5 dlrs:3 capital:1 maker:1 mobile:1 home:1 terminate:1 merger:1 discussion:1 nursing:1 center:1 america:1 oak:4 place:1 dlr:2 convertible:2 note:2 turn:1 name:1 six:1 additional:2 member:2 five:1 board:2 one:3 director:2 take:2 chairman:2 chief:2 executive:2 officer:1 two:1 share:6 common:1 stock:1 currently:1 14:1 outstanding:1 also:1 grant:1 option:1 buy:1 next:1 four:1 year:2 1:2 25:1 first:1 50:1 thereafter:1 money:1 raise:1 strengthen:1 balance:1 sheet:1 enhance:1 ability:1 seek:1 selective:1 expansion:1 opportunity:1 experience:1 turnaround:1 situation:1 expect:1 direct:1 involvement:1 management:1 charles:1 f:1 degroot:1 remain:2 post:2 nominee:1 manning:1 cede:1 president:1
|
INVESTOR TO TAKE CONTROL OF RIVER OAKS <ROI>
River Oaks Industries Inc said
it agreed in principle to give control of the company to Benson
Seizer, a New York investor, in return for 2.6 mln dlrs in
capital.
The company, a maker of mobile homes, said it terminated
merger discussions with <Nursing Centers of America>.
River Oaks said it will place a 2.6 mln dlr convertible
note with Seizer, who in turn will name six additional members
to the company's five-member board. One of the new directors
will take over as chairman and chief executive officer, River
Oaks said.
River Oaks said the note will be convertible into two mln
shares of its common stock at one dlr a share. The company
currently has 14 mln shares outstanding.
The company said it will also grant Seizer an option to buy
an additional 2.6 mln shares during the next four years at 1.25
dlrs a share during the first year and 1.50 dlrs a share
thereafter.
The company said the money raised from Seizer will further
strengthen its balance sheet and enhance its ability to seek
selective expansion opportunities.
Seizer is experienced in turnaround situations and is
expected to take direct involvement in River Oaks management,
said Charles F. DeGroot, who will remain a director of the
company after giving up the post of chairman to one of Seizer's
board nominees.
Don Manning will cede his post as chief executive but will
remain president, the company said.
|
training/376
|
training/376 |@title financial:1 santa:1 barbara:1 fsb:1 make:1 purchase:1 |@word financial:2 corp:1 santa:1 barbara:1 say:1 sign:1 definitive:1 agreement:1 purchase:1 stanwell:2 lending:1 operations:1 unit:1 mortgage:2 banking:1 company:1 undisclosed:1 term:1
|
FINANCIAL SANTA BARBARA <FSB> TO MAKE PURCHASE
Financial Corp of Santa
Barbara said it has signed a definitive agreement to purchase
Stanwell Financial, the lending operations unit of mortgage
banking company <Stanwell Mortgage>, for undisclosed terms.
|
training/3760
|
training/3760 |@title gevaert:1 nv:1 gevn:1 br:1 1986:1 year:1 |@word consolidated:1 group:1 net:3 profit:2 1:4 88:1 billion:3 franc:2 vs:4 29:1 financial:1 operate:1 11:1 825:1 mln:3 extraordinary:1 earning:1 774:1 7:1 462:1 8:1 dividend:1 165:1 150:1
|
GEVAERT NV <GEVN.BR> 1986 YEAR
Consolidated group net profit 1.88 billion francs vs 1.29
billion.
Net financial and operating profit 1.11 billion vs 825.1
mln.
Extraordinary earnings 774.7 mln vs 462.8 mln.
Net dividend 165 francs vs 150.
|
training/3762
|
training/3762 |@title national:1 savings:1 move:1 point:1 lower:1 u:2 k:2 rate:1 |@word interest:3 rate:19 look:2 set:2 move:4 lower:1 even:1 monday:2 half:3 point:6 cut:6 bank:5 base:3 10:4 1:2 2:3 pct:10 analyst:3 say:15 cite:1 evidence:2 suspension:4 british:1 national:11 saving:10 issue:9 yesterday:2 department:5 savings:2 effectively:2 treasury:3 unit:1 suspend:2 32nd:1 launch:1 october:1 pay:1 high:3 tax:1 free:1 8:4 3:3 4:3 five:2 year:5 private:1 investment:1 25:1 5:1 000:1 stg:6 spokesman:2 reaction:2 yield:2 bond:3 way:2 line:2 rest:2 market:8 follow:1 surprise:1 sell:1 within:1 minute:1 today:1 england:2 one:3 billion:4 tap:1 second:1 many:1 week:1 note:2 near:1 instant:1 sale:2 entire:1 new:2 gilt:2 require:1 40:1 downpayment:1 clear:2 thought:1 drop:2 sooner:1 rather:1 later:1 tranche:1 due:1 1997:1 occur:1 active:1 bullish:1 downward:1 pressure:2 money:3 remain:1 intact:1 bellwether:1 three:2 month:4 interbank:1 9:1 7:2 coincide:1 another:1 strong:2 sterling:1 rally:1 push:3 pound:1 four:2 dollar:1 government:4 stock:1 disappear:1 quickly:2 indeed:1 stephen:1 lewis:4 head:1 economic:1 research:1 stockbroker:2 phillip:1 draw:2 indication:1 believe:2 go:1 fall:3 least:2 immediately:1 budget:1 march:2 17:1 people:1 hope:1 james:1 capel:1 comment:2 considerable:1 significance:1 real:1 message:1 deck:1 facilitate:1 speedy:1 decision:1 building:7 society:8 inevitable:1 materialise:1 would:2 normally:1 exceed:1 give:1 rise:3 reduction:1 mortgage:5 lending:1 phillips:1 may:1 reflect:2 u:4 k:4 policy:1 towards:1 compete:1 late:2 income:2 depress:1 recent:2 chancellor:2 exchequer:1 nigel:1 lawson:1 keen:1 see:2 keep:1 lid:1 inflation:3 underlie:1 upward:1 price:2 britain:2 western:1 economy:1 well:1 1988:1 last:1 emphasise:1 impact:1 consumer:1 build:1 reduce:2 0:1 complain:1 intense:1 competition:1 argue:1 scope:1 early:1 nee:1 worry:1 lose:1 psbr:1 funding:3 must:1 take:1 criticism:1 heart:1 like:1 senior:1 dealer:1 refuse:1 interpretation:1 merely:1 politically:1 motivated:1 become:1 expensive:1 need:1 tell:1 reuters:1 add:1 twice:1 past:1 offer:1 demand:1 sharply:1 continue:1 steady:1 decline:1 threaten:1 overshoot:1 unofficial:1 target:2 fiscal:2 1986:2 end:1 31:1 first:1 contribution:1 total:2 72:1 compare:1 01:1 period:1 previous:1 official:2 figure:2 show:2 february:1 expect:1 increase:1 300:1 400:1 mln:1 11:1
|
NATIONAL SAVINGS MOVE POINTS TO LOWER U.K. RATES
U.K. Interest rates look set to move
lower even after Monday's half-point cut in bank base rates to
10-1/2 pct, analysts said, citing as evidence the suspension of
a British National Savings issue yesterday.
The Department of National Savings, effectively a Treasury
Department unit, yesterday suspended its 32nd issue, launched
in October and paying a high tax-free 8-3/4 pct on five-year
private investments between 25 and 5,000 stg. A spokesman said
the suspension was just a reaction to yields on national
savings bonds being way out of line with the rest of the
market.
The move was followed by a surprise sell-out within minutes
today of a Bank of England one-billion stg tap issue, the
second such issue in as many weeks, analysts noted.
They said the near-instant sale of the entire new gilts
issue, for which the Bank of England had required a high 40 pct
downpayment, was clear evidence that the market thought rates
had to drop sooner rather than later.
The sale of the tranche of 8-3/4 pct treasury bonds due
1997 occurred in an active, bullish gilts market as downward
pressure on money market rates remained intact, with the
bellwether three-month interbank rate down 1/8 point at
10-9-7/8 pct.
It coincided with another strong sterling rally which
pushed the pound to four-year highs against the dollar.
'That government stock disappeared very quickly indeed,' said
Stephen Lewis, head of economic research at stockbrokers
Phillips and Drew; 'It is an indication that the market believes
rates are going to fall further ... At least by a half-point
immediately after the budget (on March 17), and some people
hope for more.'
Stockbrokers James Capel said in a comment the move by the
National Savings Department was 'of considerable significance.'
It said, 'the real message ... Is that the decks are being
quickly cleared so as to facilitate a speedy decision by the
building societies to cut their rates when the inevitable cut
in bank base rates to 10 pct materialises.'
Building societies have said a drop in bank base rates
would normally have to exceed half a point to give rise to a
reduction in mortgage lending rates.
Lewis of Phillips and Drew said he too believed the
National Savings issue suspension may reflect new U.K. Treasury
policy to point building societies towards a mortgage rate cut.
'National Savings has been competing too effectively with
the building societies of late. Building society income has
been depressed in recent months,' he said.
He and other analysts said Chancellor of the Exchequer
Nigel Lawson was keen to see mortgage rates fall to keep a lid
on U.K. Inflation.
Underlying upward pressure on prices is stronger in Britain
than in most other Western economies with inflation seen rising
well above four pct this year and above five pct in 1988 after
last year's 3.7 pct.
Emphasising the impact of mortgage rates on consumer
prices, Lewis said a one-point cut in building society rates
would reduce inflation in Britain by about 0.4 pct.
But Lewis and others noted that building societies had been
complaining to the government about intense competition from
National Savings, which they argued reduced the scope for early
mortgage rate cuts.
'The Chancellor need not be worried about losing some PSBR
funding from National Savings, but he must be taking the
building societies' criticism to heart. It looks like the
National Savings move reflects this,' one senior dealer said.
A Savings Department spokesman refused to comment on this
interpretation, saying the suspension of the issue was merely a
reaction to the recent fall in U.K. Interest rates, which had
pushed yields on national savings bonds way out of line with
the rest of the market.
'We are not politically motivated ... Funding was just
becoming too expensive and we don't need all that money,' he
told Reuters, adding the department had suspended issues at
least twice in the past, when offered interest rates were above
or below market rates.
He said demand for the issue had risen sharply of late as
U.K. Money market rates continued their steady decline and
income was threatening to overshoot an unofficial three billion
stg target set for fiscal 1986 ending March 31.
In the first 10 months of fiscal 1986, National Saving's
contribution to government funding totalled 2.72 billion stg,
compared with 2.01 billion stg in the same period of the
previous year, official figures show.
Figures for February, out on Monday, are expected to show a
further increase of between 300 and 400 mln stg, pushing the
total for 11 months above target, government officials said.
|
training/3763
|
training/3763 |@title nicor:1 inc:1 gas:1 regular:1 dividend:1 set:1 |@word qtly:1 div:1 45:2 ct:2 vs:1 previously:1 pay:1 may:1 1:1 record:1 march:1 31:1
|
NICOR INC <GAS> REGULAR DIVIDEND SET
Qtly div 45 cts vs 45 cts previously
Pay May 1
Record March 31
|
training/3764
|
training/3764 |@title handleman:1 co:1 hdl:1 set:1 quarterly:1 |@word qtly:1 div:1 14:2 ct:2 vs:1 prior:1 pay:1 april:1 10:1 record:1 march:1 27:1
|
HANDLEMAN CO <HDL> SETS QUARTERLY
Qtly div 14 cts vs 14 cts prior
Pay April 10
Record March 27
|
training/3765
|
training/3765 |@title perini:1 corp:1 pcr:1 set:1 quarterly:1 |@word qtly:1 div:1 20:2 ct:2 vs:1 prior:1 pay:1 june:1 16:1 record:1 may:1 22:1
|
PERINI CORP <PCR> SETS QUARTERLY
Qtly div 20 cts vs 20 cts prior
Pay June 16
Record May 22
|
training/3766
|
training/3766 |@title jones:4 vine:2 say:2 vulcan:2 corp:2 offer:2 five:2 dlrs:2 share:2 |@word
|
JONES AND VINING SAID VULCAN CORP OFFERS FIVE DLRS A SHARE FOR JONES
JONES AND VINING SAID VULCAN CORP OFFERS FIVE DLRS A SHARE FOR JONES
|
training/3768
|
training/3768 |@title international:1 banknote:1 co:1 inc:1 ibk:1 4th:1 qtr:1 loss:1 |@word oper:4 shr:2 loss:4 11:1 ct:4 vs:8 14:1 net:7 1:6 963:1 000:12 2:2 199:1 revs:2 17:2 5:1 mln:5 40:1 9:1 year:5 profit:3 nine:1 two:1 555:1 456:1 86:1 3:1 143:1 7:2 note:1 exclude:1 extraordinary:1 tax:2 charge:2 115:1 dlrs:8 995:1 quarter:3 credit:2 8:1 096:1 173:1 1985:3 include:4 pretax:3 gain:3 400:2 termination:1 pension:1 plan:1 200:1 restructuring:1 consolidation:1 480:1 dlr:1 1986:1 sale:1 foreign:1 subsidiary:1
|
INTERNATIONAL BANKNOTE CO INC <IBK> 4TH QTR LOSS
Oper shr loss 11 cts vs loss 14 cts
Oper net loss 1,963,000 vs loss 2,199,000
Revs 17.5 mln vs 40.9 mln
Year
Oper shr profit nine cts vs profit two cts
Oper net profit 1,555,000 vs 456,000
Revs 86.3 mln vs 143.7 mln
NOTE: Net excludes extraordinary tax charges of 115,000
dlrs vs 995,000 dlrs in quarter and credits 8,096,000 dlrs vs
1,173,000 dlrs in year.
1985 year net includes pretax gain 7,400,000 dlrs from
termination of pension plan.
1985 net includes pretax charge 1,200,000 dlrs in quarter
and gain 1,400,000 dlrs in year from restructuring and
consolidation.
1985 quarter net includes 1,480,000 dlr tax credit.
1986 year net includes pretax gain 17.2 mln dlrs from sale
of foreign subsidiary.
|
training/377
|
training/377 |@title alcan:1 close:1 west:1 german:1 aluminium:1 smelter:1 |@word alcan:3 aluminiumwerke:1 gmbh:1 subsidiary:1 aluminium:3 ltd:1 al:1 n:1 canada:1 say:4 plan:1 close:3 smelter:2 ludwigshafen:1 end:1 june:1 spokesman:2 annual:1 capacity:2 44:1 000:1 tonne:1 320:1 employee:1 high:1 electricity:1 cost:1 low:1 world:1 market:1 price:1 alkan:1 earlier:1 year:1 would:1 half:1 plant:1 decide:1 shut:1 completely:1 talk:2 potential:1 cooperation:1 partner:1 fail:1 decline:1 name:1 company:1 involve:1
|
ALCAN TO CLOSE WEST GERMAN ALUMINIUM SMELTER
<Alcan Aluminiumwerke
GmbH>, a subsidiary of Alcan Aluminium Ltd <AL.N> of Canada,
said it plans to close its aluminium smelter in Ludwigshafen at
the end of June.
A spokesman said Alcan was closing the smelter, with annual
capacity of 44,000 tonnes and 320 employees, because of high
electricity costs and the low world market price of aluminium.
Alkan had said earlier this year it would close half the
plant's capacity but decided to shut down completely when talks
with potential cooperation partners failed, the spokesman said.
He declined to name the other companies involved in the talks.
|
training/3770
|
training/3770 |@title ec:1 concerned:1 u:1 textile:1 import:1 move:1 |@word european:1 community:2 ec:4 express:1 disquiet:1 protectionist:1 move:1 united:1 states:1 limit:2 import:1 textile:1 say:2 would:2 retaliate:1 immediately:1 export:1 hit:1 spokeswoman:1 commission:1 external:1 trade:3 commissioner:1 willy:1 de:1 clercq:1 write:1 u:3 counterpart:1 special:1 representative:1 clayton:1 yeutter:1 outline:1 concern:1 12:1 nation:1 draft:1 legislation:1 consideration:1 congress:1 impose:1 permanent:1 quota:1 product:1 enter:1 seek:1 increase:1 growth:1 overall:1
|
EC CONCERNED OVER U.S. TEXTILE IMPORT MOVES
The European Community (EC) expressed
disquiet over protectionist moves in the United States to limit
imports of textiles and said it would retaliate immediately if
EC exports were hit.
A spokeswoman for the EC Commission said EC External Trade
Commissioner Willy De Clercq had written to his U.S.
Counterpart, special U.S. Trade Representative Clayton Yeutter,
outlining the concerns of the 12-nation Community.
The draft legislation under consideration by Congress would
impose permanent quotas on products entering the U.S. and seek
to limit any increase to a growth in the overall trade.
|
training/3771
|
training/3771 |@title speed:1 print:1 business:1 sbm:1 4th:1 qtr:1 net:1 |@word shr:2 loss:4 seven:1 ct:4 vs:6 profit:4 17:1 net:2 102:1 000:8 258:1 revs:2 1:2 695:1 371:1 year:2 33:1 26:1 488:1 384:1 6:1 700:1 4:1 774:1 note:1 1986:1 result:1 include:1 operation:1 radio:1 station:1 wjye:1 fm:1 full:2 wnnr:1 last:1 six:1 month:1 speed:1 print:1 business:1 machines:1 corp:1 name:1 company:1
|
SPEED-O-PRINT BUSINESS <SBM> 4TH QTR NET
Shr loss seven cts vs profit 17 cts
Net loss 102,000 vs profit 258,000
Revs 1,695,000 vs 1,371,000
Year
Shr loss 33 cts vs profit 26 cts
Net loss 488,000 vs profit 384,000
Revs 6,700,000 vs 4,774,000
NOTE: 1986 results include operations of radio stations
WJYE-FM for the full year and WNNR-AM for the last six months.
Speed-O-Print Business Machines Corp is full name of
company.
|
training/3772
|
training/3772 |@title asbestec:1 industry:1 asbs:1 set:1 stock:1 split:1 |@word asbestec:1 industries:1 inc:1 say:1 board:1 declare:1 three:2 two:1 stock:1 split:1 payable:1 april:2 17:1 record:1
|
ASBESTEC INDUSTRIES <ASBS> SETS STOCK SPLIT
Asbestec Industries Inc said
its board declared a three-for-two stock split, payable April
17, record April Three.
|
training/3774
|
training/3774 |@title quaker:1 oats:1 co:1 oat:1 regular:1 dividend:1 |@word qtly:1 div:1 20:2 ct:2 vs:1 previously:1 pay:1 april:1 15:1 record:1 march:1 23:1
|
QUAKER OATS CO <OAT> REGULAR DIVIDEND
Qtly div 20 cts vs 20 cts previously
Pay April 15
Record March 23
|
training/3775
|
training/3775 |@title jones:1 vine:1 jnsv:1 get:1 vulcan:1 vul:1 bid:1 |@word jones:7 vining:1 inc:1 say:6 vulcan:4 corp:1 one:1 main:1 competitor:1 production:1 shoe:1 last:1 offer:3 acquire:2 vine:6 five:2 dlrs:4 share:4 management:2 effort:1 take:1 company:1 private:1 go:1 ahead:1 4:2 50:2 per:1 form:1 buyout:3 yet:1 determine:1 subject:1 nunber:1 condition:1 board:2 believe:1 transaction:1 would:1 difficult:1 complete:1 ask:1 information:1 explore:1 bid:2 january:1 23:1 recommend:1 shareholder:1 aprove:1 february:1 six:1 initially:1 dismiss:1 frivolous:1 without:1 substance:1 fail:1 comply:1 provision:1 securities:1 act:1 1934:1
|
JONES AND VINING <JNSV> GETS VULCAN <VUL> BID
Jones and Vining Inc said
Vulcan Corp, one of its main competitors in the production of
shoe lasts, has offered to acquire Jones and Vining for five
dlrs a share.
Jones and Vining said a management effort to take the
company private will go ahead at 4.50 dlrs per share. The form
of the buyout has not yet been determined and the buyout is
subject to a nunber of conditions, it said.
Jones and Vining said its board believes that a transaction
with Vulcan would be difficult to complete, but it has asked
Vulcan for further information to explore the bid.
On January 23, Jones and Vining said its board had
recommended that shareholders aprove a management buyout at
4.50 dlrs a share.
On February Six, Vulcan initially offered to acquire Jones
and Vining for five dlrs a share, but Jones and Vining
dismissed the offer as 'frivolous' and 'without substance' and
said the bid failed to comply with provisions of the Securities
Act of 1934.
|
training/3777
|
training/3777 |@title ppg:3 industry:1 see:1 growth:1 1987:1 |@word industries:1 inc:1 continue:1 show:1 earning:3 growth:1 1987:1 despite:1 difficult:1 economic:1 climate:1 company:3 say:1 annual:1 report:1 mail:1 shareholder:1 today:1 1986:2 rise:1 five:1 pct:5 316:1 mln:1 dlrs:4 revenue:1 increase:1 eight:1 4:1 7:1 billion:1 per:1 share:1 2:2 66:1 compare:1 27:1 add:1 return:1 equity:1 reach:1 17:1 3:1 15:1 5:1 1985:1 close:1 goal:1 18:1
|
PPG INDUSTRIES <PPG> SEES GROWTH IN 1987
PPG Industries Inc will continue to
show earnings growth in 1987 despite a difficult economic
climate, the company said in its annual report, mailed to
shareholders today.
For 1986, the company's earnings rose five pct, to 316 mln
dlrs, on revenues that increased eight pct, to 4.7 billion
dlrs. Earnings per share were 2.66 dlrs, compared with 2.27
dlrs.
The company added that in 1986 its return on equity reached
17.3 pct, up from 15.5 pct in 1985 and close to its goal of 18
pct.
|
training/3779
|
training/3779 |@title belgian:1 minister:1 unveils:1 privatisation:1 plan:1 |@word belgian:1 budget:2 minister:1 guy:1 verhofstadt:5 propose:2 plan:3 sell:3 share:2 several:2 state:2 enterprise:1 include:1 national:1 airline:1 sabena:2 postal:2 telecommunication:2 authority:3 government:2 source:2 say:3 could:1 raise:2 25:2 billion:5 franc:5 revenue:1 next:1 five:1 year:2 accord:1 projection:1 help:1 reduce:1 huge:1 deficit:1 targette:1 418:1 scheme:1 receive:1 guard:1 reception:1 social:1 christian:1 party:1 belgium:1 centre:1 right:1 coalition:1 unveil:1 cabinet:1 meeting:1 yesterday:1 discussion:1 likely:1 long:1 difficult:1 begin:1 selloff:1 last:1 quarter:1 1987:1 sale:2 30:1 40:1 pct:3 investment:1 company:3 sni:1 expect:1 three:1 add:1 would:2 mid:2 1989:1 1:1 5:1 50:1 two:1 stage:1 1990:1 early:1 1992:1 raising:1 least:1 seven:1 also:1 list:1 maritime:1 transport:1 lead:1 gas:1 distributor:1 distrigaz:1 cger:3 savings:1 bank:2 credit:1 institution:1 le:1 soir:1 daily:1 quote:1 vice:1 president:1 paul:1 henrion:2 express:1 strong:1 opposition:1 privatisation:1 public:2 wish:1 stay:1 tell:1 paper:1
|
BELGIAN MINISTER UNVEILS PRIVATISATION PLAN
Belgian Budget Minister Guy
Verhofstadt has proposed a plan to sell off shares in several
state-owned enterprises, including national airline Sabena and
the postal and telecommunications authority, government sources
said.
They said the plan could raise more than 25 billion francs
in revenue over the next five years according to Verhofstadt's
projections, helping the government to reduce its huge budget
deficit, targetted this year at 418 billion francs.
But the scheme had received a guarded reception from the
Social Christian parties in Belgium's centre-right coalition
when Verhofstadt unveiled it at a cabinet meeting yesterday.
Discussion of the plan was likely to be long and difficult,
the sources said.
Verhofstadt proposes beginning the selloffs in the last
quarter of 1987, with the sale of 30 to 40 pct of state
investment company SNI. He expects the sale to raise three
billion francs, they added.
A 25 pct share in Sabena would be sold in mid-1989 for 1.5
billion francs, while 50 pct of the postal and
telecommunications authority would be sold off in two stages in
mid-1990 and early 1992, raising at least seven billion francs.
Also on Verhofstadt's list are the Maritime Transport
Authority, leading gas distributor Distrigaz, CGER savings
bank, CGER, and several other credit institutions.
Le Soir daily quoted CGER vice-president Paul Henrion as
expressing strong opposition to the privatisation of his bank.
'Public company we are and public company we wish to stay,'
Henrion told the paper.
|
training/378
|
training/378 |@title bbc:1 ag:1 brown:1 boveri:1 und:1 cie:1 bbcz:1 z:1 1986:1 year:1 |@word parent:1 company:1 net:1 profit:1 12:1 8:1 mln:2 swiss:1 franc:5 vs:5 7:1 5:1 order:2 receive:1 2:4 21:1 billion:8 61:1 sale:2 25:1 49:1 group:2 13:3 83:1 88:1 11:1 03:1 00:1 reute:1
|
BBC AG BROWN BOVERI UND CIE <BBCZ.Z> 1986 YEAR
Parent Company net profit 12.8 mln Swiss francs vs 7.5 mln.
Orders received 2.21 billion francs vs 2.61 billion.
Sales 2.25 billion francs vs 2.49 billion.
Group sales 13.83 billion francs vs 13.88 billion.
Group orders 11.03 billion francs vs 13.00 billion.
REUTE
|
training/3782
|
training/3782 |@title science:1 dynamics:1 corp:1 sidy:1 year:1 net:1 |@word shr:1 24:1 ct:2 vs:3 13:1 net:1 704:1 803:1 385:1 081:1 revs:1 5:1 669:1 682:1 4:1 142:1 095:1
|
SCIENCE DYNAMICS CORP <SIDY> YEAR NET
Shr 24 cts vs 13 cts
Net 704,803 vs 385,081
Revs 5,669,682 vs 4,142,095
|
training/3784
|
training/3784 |@title foodarama:1 supermarkets:1 inc:1 fsm:1 1st:1 qtr:1 jan:1 31:1 |@word shr:1 42:1 ct:2 vs:3 35:1 net:2 570:1 000:3 476:1 sale:1 122:1 4:1 mln:2 123:1 1:1 notel:1 prior:1 year:1 include:1 pretax:1 charge:1 453:1 dlrs:1 reopen:1 eight:1 store:1
|
FOODARAMA SUPERMARKETS INC <FSM> 1ST QTR JAN 31
Shr 42 cts vs 35 cts
Net 570,000 vs 476,000
Sales 122.4 mln vs 123.1 mln
NOTEL Prior year net includes pretax charge 453,000 dlrs
for reopening of eight stores.
|
training/3785
|
training/3785 |@title engineering:1 measurement:1 co:1 emco:1 3rd:1 qtr:1 net:1 |@word qtr:1 end:1 jan:1 31:1 shr:2 four:1 ct:4 vs:6 12:1 net:2 102:1 508:1 264:1 910:1 revs:2 2:2 278:1 083:1 536:1 312:1 nine:2 mth:1 18:1 15:1 489:1 253:1 404:1 877:1 6:2 679:1 745:1 613:1 551:1 note:1 exclude:1 discontinue:1 operation:1 gain:1 40:1 519:1 dlrs:2 third:1 quarter:1 fiscal:2 1986:2 loss:1 9:1 666:1 month:1
|
ENGINEERING MEASUREMENTS CO <EMCO> 3RD QTR NET
Qtr ends Jan 31
Shr four cts vs 12 cts
Net 102,508 vs 264,910
Revs 2,278,083 vs 2,536,312
Nine mths
Shr 18 cts vs 15 cts
Net 489,253 vs 404,877
Revs 6,679,745 vs 6,613,551
NOTE: Excludes discontinued operations gain of 40,519 dlrs
in the third quarter fiscal 1986, and loss of 9,666 dlrs in the
nine months fiscal 1986.
|
training/3786
|
training/3786 |@title boothe:1 financial:1 corp:1 bcmp:1 4th:1 qtr:1 net:1 |@word shr:2 one:1 ct:2 vs:8 24:1 net:2 43:1 000:4 1:3 032:1 rev:1 10:1 mln:8 4:3 9:2 avg:2 shrs:2 3:5 7:2 12:1 mth:1 02:1 dlrs:2 62:1 950:1 308:1 revs:1 30:1 8:1 33:1 5:1 note:1 1985:1 restate:1 reflect:1 tax:1 loss:1 carryforward:1
|
BOOTHE FINANCIAL CORP <BCMP> 4TH QTR NET
Shr one ct vs 24 cts
Net 43,000 vs 1,032,000
Revs 10 mln vs 4.9 mln
Avg shrs 3.7 mln vs 4.3 mln
12 mths
Shr 1.02 dlrs vs 1.62 dlrs
Net 3,950,000 vs 7,308,000
Revs 30.8 mln vs 33.3 mln
Avg shrs 3.9 mln vs 4.5 mln
NOTE: 1985 restated to reflect tax loss carryforwards.
|
training/3787
|
training/3787 |@title consolidated:1 natural:1 gas:1 co:1 cng:1 payout:1 |@word qtly:1 div:1 37:2 1:2 2:2 ct:2 vs:1 prior:1 pay:1 may:1 15:2 record:1 april:1
|
CONSOLIDATED NATURAL GAS CO <CNG> IN PAYOUT
Qtly div 37-1/2 cts vs 37-1/2 cts prior
Pay May 15
Record April 15
|
training/3788
|
training/3788 |@title sandusky:1 plastics:1 inc:1 spi:1 set:1 quarterly:1 |@word qtly:1 div:1 six:2 ct:2 vs:1 prior:1 pay:1 march:2 31:1 record:1 20:1
|
SANDUSKY PLASTICS INC <SPI> SETS QUARTERLY
Qtly div six cts vs six cts prior
Pay March 31
Record March 20
|
training/379
|
training/379 |@title marriott:1 mhs:1 sell:1 hotel:1 |@word four:2 season:2 hotel:3 say:2 vms:1 realty:1 partner:1 chicago:1 agree:1 purchase:1 santa:2 barbara:2 biltmore:2 marriott:1 corp:1 undisclosed:1 amount:1 venture:1 rename:1 invest:1 13:1 mln:1 dlrs:1 improvement:1 228:1 room:1 property:1
|
MARRIOTT <MHS> TO SELL HOTEL
<Four Seasons Hotels> said it and <VMS
Realty Partners> of Chicago have agreed to purchase the Santa
Barbara Biltmore Hotel from Marriott Corp for an undisclosed
amount.
It said the venture will rename the hotel the Four Seasons
Biltmore at Santa Barbara and invest over 13 mln dlrs in
improvements on the 228-room property.
|
training/3790
|
training/3790 |@title rexnord:1 rex:1 sell:1 railway:1 equipment:1 unit:1 |@word rexnord:2 nc:1 say:3 sign:1 definitive:1 agreement:1 sell:1 railway:2 maintenance:2 equipment:1 co:2 subsidiary:1 banner:1 industries:1 inc:1 term:1 withhold:1 1986:1 sale:4 16:1 mln:4 dlrs:4 employ:1 100:1 people:1 part:1 major:1 program:1 divest:2 several:1 business:1 represent:1 200:1 net:1 asset:1 still:1 process:1 machinery:1 division:1 137:1 mathew:1 conveyer:1 83:1
|
REXNORD <REX> TO SELL RAILWAY EQUIPMENT UNIT
Rexnord nc said it signed a
definitive agreement to sell its Railway Maintenance Equipment
Co subsidiary to Banner Industries Inc. Terms were withheld.
It said Railway Maintenance had 1986 sales of 16 mln dlrs
and employs 100 people.
Rexnord said the sale is part of a major program to divest
several of its businesses representing about 200 mln dlrs in
net assets. Still to be divested are the Process Machinery
Division with sales of 137 mln dlrs and Mathews Conveyer Co,
with sales of 83 mln dlrs.
|
training/3792
|
training/3792 |@title licht:1 see:1 stagnant:1 european:1 beet:1 area:1 |@word overall:1 area:5 devote:1 sugar:5 beet:4 europe:7 forecast:5 remain:1 stagnant:1 year:4 7:2 22:1 mln:16 hectare:2 compare:1 21:1 ha:4 1986:7 west:3 german:1 statistician:1 f:1 licht:4 say:4 fear:1 recent:1 steep:1 rise:1 price:1 would:1 marked:1 effect:2 plant:1 intention:1 judge:1 first:1 estimate:2 probably:1 minimal:1 total:4 european:2 community:1 fall:2 two:1 pct:2 1:6 85:1 89:1 western:2 put:1 2:2 49:1 50:2 eastern:3 4:3 73:1 72:1 individual:1 country:1 000:1 figure:1 bracket:1 belgium:1 luxembourg:1 114:1 118:1 denmark:1 69:2 france:1 419:1 421:1 greece:1 35:1 44:1 ireland:1 36:1 38:1 italy:1 270:1 275:1 netherlands:1 129:1 138:1 portugal:1 spain:1 192:1 190:1 u:1 k:1 200:1 201:1 germany:2 385:1 399:1 austria:1 32:1 28:1 finland:1 30:1 31:2 sweden:1 51:1 52:2 switzerland:1 15:1 14:2 turkey:1 355:1 340:1 yugoslavia:1 160:1 136:1 planting:1 follow:1 ussr:1 3400:1 3440:1 albania:1 10:2 9:4 bulgaria:1 czechoslovakia:1 195:1 196:1 east:1 210:1 205:1 hungary:1 108:1 96:1 poland:1 460:1 440:1 romania:1 295:1 280:1 basis:1 average:2 yield:3 point:1 crop:1 1987:2 88:2 29:1 8:1 tonne:5 raw:1 value:1 87:3 fairly:1 high:1 last:1 season:1 thank:1 favourable:1 weather:1 increase:1 chance:1 significant:1 reduction:1 production:4 base:1 ec:1 could:3 nearly:1 13:2 5:1 16:1 18:1 12:1 3:1
|
LICHT SEES STAGNANT EUROPEAN BEET AREA
The overall area devoted to sugar
beet in Europe is forecast to remain stagnant this year at 7.22
mln hectares compared with 7.21 mln ha in 1986, West German
statistician F.O. Licht said.
It was feared that the recent steep rise in sugar prices
would have a marked effect on planting intentions this year,
Licht said, but judging by this first estimate the effect was
probably minimal.
The total beet area in the European Community is forecast
to fall two pct to 1.85 mln ha against 1.89 mln in 1986.
The total Western Europe area is put at 2.49 mln ha,
against 2.50 mln in 1986. Eastern Europe area is forecast at
4.73 mln ha against 4.72 mln.
Individual West Europe country estimates, in 1,000 hectares
(with 1986 figures in brackets), are, Belgium/Luxembourg 114
(118), Denmark 69 (69), France 419 (421), Greece 35 (44),
Ireland 36 (38), Italy 270 (275), Netherlands 129 (138),
Portugal 1 (1), Spain 192 (190), U.K. 200 (201), West Germany
385 (399), Austria 32 (28), Finland 30 (31), Sweden 51 (52),
Switzerland 15 (14), Turkey 355 (340), Yugoslavia 160 (136).
Eastern Europe plantings are forecast as follows, USSR 3400
(3440), Albania 10 (9), Bulgaria 52 (50), Czechoslovakia 195
(196), East Germany 210 (205), Hungary 108 (96), Poland 460
(440), Romania 295 (280).
On the basis of average yields this year, Licht said these
area forecasts pointed to a total European beet sugar crop in
1987/88 of 29.8 mln tonnes, raw value, down from 31.4 mln
tonnes in 1986/87. Licht said sugar yields were fairly high
last season, thanks to favourable weather, and this increases
the chances of a significant reduction in production in
1987/88.
Based on average yields, EC beet sugar production could
fall nearly 10 pct this year to 13.5 mln tonnes from 14.9 mln
in 1986/87, while total Western Europe production could be 16.9
mln tonnes against 18.1 mln. Eastern Europe production could be
12.9 mln tonnes against 13.3 mln in 1986/87.
|
training/3793
|
training/3793 |@title britain:1 mint:1 new:1 britannia:1 gold:1 coin:1 |@word britain:1 next:1 autumn:1 mint:1 market:1 new:2 bullion:2 coin:4 call:1 britannia:1 contain:1 one:1 ounce:4 24:1 carat:1 gold:2 together:1 small:2 denomination:2 treasury:1 official:1 say:1 investment:1 sell:1 worldwide:1 fluctuate:1 price:2 accord:1 international:1 half:1 quarter:1 tenth:1 reuter:1
|
BRITAIN TO MINT NEW 'BRITANNIA' GOLD COIN
Britain will from next autumn mint and
market a new bullion coin called the 'Britannia' containing one
ounce of 24 carat gold, together with bullion coins of smaller
denominations, a Treasury official said.
The new investment coin, to be sold worldwide, will
fluctuate in price according to the international price of
gold.
The smaller coins will be in denominations of a half ounce,
a quarter ounce and a tenth of an ounce. REUTER
|
training/3795
|
training/3795 |@title meese:1 see:1 plus:1 chrysler:1 amc:1 merger:1 |@word attorney:1 general:1 edwin:1 meese:3 say:2 see:1 benefit:1 propose:2 purchase:1 american:4 motors:1 co:1 amo:1 chrysler:2 corp:1 c:1 would:4 return:1 small:1 u:1 auto:1 manufacturer:1 hand:3 tell:2 house:1 appropriation:1 subcommittee:2 consideration:1 part:1 justice:1 department:1 review:2 merger:3 agency:1 yet:1 receive:1 formal:1 notice:1 start:1 process:1 make:1 1:1 3:1 billion:1 dlr:1 bid:1 buy:1 amc:2 french:1 parent:1 renault:2 think:1 one:2 thing:1 recognize:1 appear:1 least:1 good:1 portion:1 ownership:1 motor:1 overseas:1 put:1 back:1 may:1 factor:1 weigh:1 judgment:1 add:1 currently:1 hold:1 46:1 pct:1
|
MEESE SEES A PLUS IN CHRYSLER-AMC MERGER
Attorney General Edwin Meese said he
saw some benefit in the proposed purchase of American Motors Co
<AMO> By Chrysler Corp <C> in that it would return the smallest
of the U.S. auto manufacturers to American hands.
Meese told the House Appropriations Subcommittee that
consideration would be part of the Justice Department's review
of the proposed merger. He said the agency has not yet received
a formal notice of the merger which would start the review
process.
Chrysler has made a 1.3 billion dlr bid to buy AMC from its
French parent Renault.
'I think one of the things that has to be recognized in that
merger is that it appears, at least, that a good portion of the
ownership of American Motors, which has been in overseas hands
will be put back in American hands,' Meese told the
subcommittee.
'That may be one of the factors that would be weighed in the
judgment,' he added.
Renault currently holds about 46 pct of AMC.
|
training/3796
|
training/3796 |@title dutch:1 parliament:1 offer:1 little:1 help:1 port:1 row:1 |@word dutch:1 member:2 parliament:1 say:2 could:1 little:2 help:1 resolve:1 dispute:2 redundancy:3 rotterdam:1 port:2 general:1 cargo:1 sector:1 urge:1 union:2 employer:2 sort:1 difference:1 side:1 give:1 evidence:1 party:1 standing:1 committee:2 social:1 affair:1 today:1 see:1 chance:1 parliamentary:1 intervention:1 begin:1 january:1 19:1 protest:1 plan:1 800:1 4:1 000:1 strong:1 workforce:1 start:1 350:1 year:1 transport:1 fnv:1 challenge:1 amsterdam:1 court:1 tomorrow:1
|
DUTCH PARLIAMENT OFFERS LITTLE HELP IN PORT ROW
Dutch members of parliament said they
could do little to help resolve the dispute over redundancies
in Rotterdam port's general cargo sector and urged the union
and employers to sort out their differences themselves.
Both sides gave evidence to the all-party standing
committee on Social Affairs today, but committee members said
they saw little chance of parliamentary intervention.
The dispute began on January 19 in protest at employers'
plans for 800 redundancies from the 4,000-strong workforce,
starting with 350 this year. The port and transport union, FNV,
is to challenge the redundancies in an Amsterdam court
tomorrow.
|
training/3797
|
training/3797 |@title sosnoff:1 say:1 caesars:1 caw:1 offer:1 stock:1 buyback:1 |@word martin:1 sosnoff:10 offer:7 buy:5 caesars:6 world:7 inc:1 28:1 dlrs:2 share:5 say:7 senior:1 official:3 company:5 back:2 stake:2 already:2 hold:3 13:2 6:2 pct:2 total:1 outstanding:1 filing:1 securities:1 exchange:1 commission:1 new:1 york:1 investor:1 money:1 manager:1 stock:2 occur:1 several:2 occasion:1 past:1 year:1 make:1 representative:1 include:3 chairman:1 henry:1 gluck:1 reject:1 proposal:1 suggest:2 various:1 form:1 payment:1 security:1 cash:1 detail:1 value:2 propose:2 compensation:1 also:2 deal:2 involve:1 put:1 call:1 option:1 regard:1 holding:1 would:2 standstill:1 agreement:1 restrict:1 right:1 caesar:2 take:1 action:1 adverse:1 incumbent:1 management:1 report:2 receive:1 amend:1 purchase:1 well:1 sec:1 4:1 1:1 mln:3 30:1 outstande:1 725:1 2:1
|
SOSNOFF SAYS CAESARS <CAW> OFFERED STOCK BUYBACK
Martin Sosnoff, who has offered to
buy Caesars World Inc for 28 dlrs a share, said senior
officials of the company have offered to buy back the Caesars
stake he already holds, now 13.6 pct of the total outstanding.
In a filing with the Securities and Exchange Commission,
Sosnoff, a New York investor and money manager, said the offers
to buy back his stock occurred 'on several occasions during the
past year.'
The offers were made by several Caesars World
representatives, including its chairman, Henry Gluck, he said.
Sosnoff said he rejected all of the proposals.
The Caesars World official suggested various forms of
payment for Sosnoff's stake, including other securities of the
company and cash, he said. Sosnoff did not detail the value of
the proposed compensation.
Also suggested was a deal involving 'put' and 'call' option
regarding Sosnoff's Caesars World holdings, he said.
The proposed deals would have also included a 'standstill'
agreement, which would have restricted Sosnoff's right to buy
more Caesars World stock or 'to take any action adverse to
incumbent management,' he said.
Sosnoff's report on the offers he received for his Caesars
World shares were amended to his official offer to purchase the
company, as well as reported to the SEC.
Sosnoff now holds about 4.1 mln Caesars World shares, or
13.6 pct of the company's 30 mln shares outstanding.
The Sosnoff offer to buy the shares of the company he does
not already hold has been valued at 725.2 mln dlrs.
|
training/3798
|
training/3798 |@title energy:1 foreign:1 investor:1 |@word lure:1 weakening:1 dollar:2 conviction:1 oil:24 price:6 poise:1 rebound:1 european:2 energy:2 company:11 buy:5 cheap:2 u:8 gas:5 reserve:10 replenish:1 supply:1 industry:2 analyst:3 say:13 politically:1 stable:1 united:1 states:1 good:2 insurance:1 future:1 shortage:1 however:1 quick:1 pace:1 foreign:6 investment:2 heat:1 competition:2 among:2 firm:6 well:1 heel:1 institutional:1 investor:6 major:2 snare:1 choice:1 domestic:2 property:6 strevig:1 associate:1 houston:3 track:1 sale:1 grow:1 interest:1 buyer:3 help:1 push:1 recent:2 month:3 high:2 pay:3 median:1 6:1 45:1 dlrs:11 barrel:6 fourth:1 quarter:3 1986:1 acquisition:4 5:1 33:1 third:1 five:1 second:1 accord:1 research:1 nibble:1 long:1 time:1 see:1 new:4 name:1 small:2 come:1 arthur:1 smith:4 appraisal:1 specialist:1 president:1 john:1 herold:1 inc:4 greenwich:1 conn:1 europeans:1 especially:1 much:1 indigenous:1 realize:1 tide:1 eventually:1 turn:1 favor:1 organization:1 petroleum:2 exporting:1 country:1 add:2 economist:1 believe:1 trend:1 continue:1 1987:1 fall:1 value:1 perception:1 hit:1 bottom:1 fact:1 explore:2 plenty:1 available:1 market:2 thank:1 need:2 many:2 raise:1 cash:1 debt:1 payment:1 general:1 restructuring:1 throughout:1 oilpatch:1 two:3 big:1 transaction:1 french:1 minatome:2 corp:3 unit:2 total:1 compagnie:1 francaise:1 des:1 petrole:1 spend:3 230:1 mln:9 separately:1 acquire:2 asset:2 texas:2 international:2 teicc:1 lear:1 partners:1 lpp:1 spokesman:1 search:1 additional:1 partnership:2 belgian:1 petrofina:1 cometra:1 150:1 late:1 last:1 year:1 virtually:1 exploration:3 williams:1 cos:1 wmb:1 oklahoma:2 pipeline:1 japanese:1 prefer:1 enter:1 joint:1 venture:1 experience:1 japan:1 nippon:1 partner:1 texaco:2 tx:1 usa:1 100:1 drilling:2 program:1 join:1 dupont:1 dd:1 conoco:1 similar:1 135:1 deal:1 back:1 period:1 geographic:1 location:1 lifting:1 cost:2 crude:1 important:1 factor:1 evaluate:1 potential:1 rely:1 simple:1 per:1 formula:1 rich:1 hodge:1 base:2 land:1 manager:1 represent:1 preussag:1 c:1 deilmann:1 west:1 germany:1 earmark:1 least:1 50:1 louisiana:1 coming:1 call:1 amount:2 compare:1 painewebber:1 geodyne:1 income:1 fund:1 example:1 plan:1 300:1 stiff:1 brokerage:2 house:2 shop:1 around:1 feel:1 substantially:1 less:1 risky:1 pure:1 go:1 take:1 risk:1 inherent:1 current:1 addition:1 also:1 compete:1 prime:1 shell:3 co:1 royal:1 dutch:1 group:1 rd:1 one:3 active:1 sell:1 since:1 1982:1 billion:1 include:1 470:1 equivalent:1 net:1 2:1 80:1 strategy:1 production:1 drop:2 day:2 cutback:1 may:1 another:1 1988:1
|
ENERGY/FOREIGN INVESTORS
Lured by the weakening dollar and the
conviction that oil prices are poised for a rebound, European
energy companies are buying up cheap U.S. oil and gas reserves
to replenish their supplies, oil industry analysts said.
They said owning oil reserves in a politically stable
United States is good insurance against future shortages.
However, the quick pace of foreign investment has heated up
competition among European firms, well-heeled U.S.
institutional investors and major oil companies to snare choice
domestic oil properties.
Strevig and Associates, a Houston firm that tracks oil and
gas reserve sales, said growing interest among foreign buyers
had helped push reserve prices in recent months higher. All
buyers of U.S. reserves paid a median price of 6.45 dlrs a
barrel of oil during the fourth quarter of 1986 for
acquisitions, up from 5.33 dlrs in the third quarter and five
dlrs in the second quarter, according to the firm's research.
'Foreign investors have been here nibbling a long time, but
we're seeing new names and smaller companies coming in,' said
Arthur Smith, an oil property appraisal specialist and
president of John S. Herold Inc in Greenwich, Conn.
'Europeans, especially, do not have much indigenous oil and
gas and realize the tide will eventually turn in favor of the
Organization of Petroleum Exporting Countries,' he added.
Smith and other oil industry analyst and economists believe
the trend in foreign investments will continue in 1987 because
of the fall in value of the U.S. dollar, the perception that
oil prices have hit bottom and the fact that it is cheaper to
buy new reserves than to explore for them.
Plenty of properties are available on the market, thanks to
the need of many companies to raise cash for debt payments and
general restructuring throughout the oilpatch.
In two of the biggest transactions of recent months,
French-owned Minatome Corp., a unit of <Total Compagnie
Francaise des Petroles>, spent more than 230 mln dlrs to
separately acquire oil assets of Texas International <TEICC>
and Lear Petroleum Partners <LPP>. A spokesman for Minatome
said the company is searching for additional acquisitions.
A partnership of two Belgian-owned firms, <Petrofina S.A.>
and <Cometra Oil S.A.> paid 150 mln dlrs late last year to buy
virtually all the exploration assets of the Williams Cos <WMB>,
the Oklahoma pipeline firm.
But Japanese investors prefer entering into joint ventures
with experienced U.S. companies to explore for new oil. Japan's
<Nippon Oil> is a partner of Texaco Inc's <TX> Texaco USA in a
100 mln dlrs U.S. drilling program, and has joined with
Dupont's <DD> Conoco Inc in a similar 135 dlrs mln deal.
Most buyers said the pay-back period of a property, its
geographic location and the lifting cost of the crude oil are
more important factors in evaluating potential acquisitions
than relying on a simple price-per-barrel formula.
Rich Hodges, a Houston-based land manager representing
International Oil and Gas Corp, a partnership of <Preussag
Corp> and <C. Deilmann Inc> of West Germany, said the firm had
earmarked at least 50 mln dlrs to spend on oil reserves in
Texas, Oklahoma or Louisiana in the coming months.
But he called that a small amount compared to the amount
other investors have for acquisitions. PaineWebber's Geodyne
Energy Income Fund, for example, has said it plans to spend up
to 300 mln dlrs on oil and gas properties.
'The competition is stiff, not only from other foreign
investors but from the brokerage houses and U.S. oil
companies,' he said. 'Our company is shopping around because we
feel it's substantially less risky than pure exploration. If
you're going to take the risk inherent in exploration, you need
prices higher than the current market,' he added.
In addition to the foreign investors and U.S. brokerage
houses, analysts said many of the major oil companies were also
competing for prime properties.
Houston-based Shell Oil Co, a unit of Royal Dutch/Shell Group
<RD>, has been one of the most active companies in buying and
selling reserves, Smith said. Since 1982, Shell has acquired
two billion dlrs in new reserves, including 470 mln barrels of
oil equivalent at a net cost of 2.80 dlrs a barrel, he said.
'Buying reserves is a good strategy for most of these
companies,' Smith said. 'Domestic production has dropped by one
mln barrels a day because of cutbacks in drilling and it may
drop by another one mln barrels a day in 1988.'
|
training/38
|
training/38 |@title cinram:1 ltd:1 4th:1 qtr:1 net:1 |@word shr:2 45:1 ct:2 vs:8 58:1 net:2 1:7 mln:7 829:1 000:3 sale:2 7:2 9:3 4:1 avg:2 shrs:2 2:4 332:2 397:2 428:2 year:1 22:2 dlrs:2 06:1 5:1 25:1
|
<CINRAM LTD> 4TH QTR NET
Shr 45 cts vs 58 cts
Net 1.1 mln vs 829,000
Sales 7.9 mln vs 9.4 mln
Avg shrs 2,332,397 vs 1,428,000
Year
Shr 1.22 dlrs vs 1.06 dlrs
Net 2.9 mln vs 1.5 mln
Sales 25.7 mln vs 22.2 mln
Avg shrs 2,332,397 vs 1,428,000
|
training/3800
|
training/3800 |@title austrian:1 1987:1 growth:1 see:1 0:1 5:2 1:1 pct:1 |@word meeting:3 leading:1 politician:1 banker:1 economist:2 forecast:5 austrian:1 real:1 gross:1 domestic:1 product:1 growth:4 year:3 0:1 5:5 1:2 pct:5 government:1 spokesman:2 say:2 compare:1 two:1 make:2 semi:1 official:1 institute:1 economic:1 research:1 wifo:2 last:1 december:1 helmut:1 kramer:2 chancellor:1 franz:1 vranitzky:2 tell:1 reuter:1 attend:1 finance:1 minister:1 ferdinand:1 lacina:1 national:1 bank:1 president:1 stefan:1 koren:1 representative:1 cut:1 recently:1 mainly:1 due:1 expectation:1 poor:1 export:1 performance:1 notably:1 eastern:1 europe:1 oil:1 exporting:1 states:1 hannes:1 androsch:1 general:1 director:1 creditanstalt:1 bankverein:1 cabv:1 vi:1 today:1 put:1 1987:1 gdp:1 one:1 also:1 hear:1 unemployment:1 would:1 unlikely:1 six:1
|
AUSTRIAN 1987 GROWTH SEEN BETWEEN 0.5 AND 1.5 PCT
A meeting of leading politicians,
bankers and economists has forecast Austrian real gross
domestic product growth for this year at between 0.5 and 1.5
pct, a government spokesman said.
This compared with a two pct growth forecast made by the
semi-official Institute for Economic Research (WIFO) last
December.
Helmut Kramer, spokesman for Chancellor Franz Vranitzky,
told Reuters that the forecast had been made during the meeting
attended by Vranitzky, Finance Minister Ferdinand Lacina,
National Bank President Stefan Koren and a WIFO representative.
Economists have been cutting growth forecasts recently
mainly due to expectations of a poor export performance this
year, notably to Eastern Europe and oil exporting states.
Hannes Androsch, general director of
Creditanstalt-Bankverein <CABV.VI>, today put 1987 GDP growth
at between one and 1.5 pct.
Kramer also said the meeting had heard that unemployment
for the year would be above the 5.5 pct forecast, but was
unlikely to be more than six pct.
|
training/3801
|
training/3801 |@title better:1 living:1 inc:1 4th:1 qtr:1 net:1 |@word shr:4 profit:10 primary:1 91:1 ct:6 vs:8 loss:3 86:2 dilute:2 90:1 net:2 787:1 000:6 751:1 sale:2 20:1 mln:4 12:1 5:1 year:2 2:3 63:1 dlrs:4 five:2 59:1 273:1 43:1 70:1 1:2 47:1 note:1 prior:1 qtr:1 figure:1 include:1 gain:1 disposal:1 discontinued:1 operation:1 76:1 79:1 respectively:1
|
<FOR BETTER LIVING INC> 4TH QTR NET
Shr profit primary 91 cts vs loss 86 cts
Shr profit diluted 90 cts vs loss 86 cts
Net profit 787,000 vs loss 751,000
Sales 20 mln vs 12.5 mln
Year
Shr profit profit 2.63 dlrs vs profit five cts
Shr profit diluted 2.59 dlrs vs profit five cts
Net profit 2,273,000 vs profit 43,000
Sales 70.1 mln vs 47.1 mln
Note: Prior qtr and year figures include gains on disposal
of discontinued operations of 76,000 dlrs and 79,000 dlrs,
respectively.
|
training/3806
|
training/3806 |@title newport:1 electronics:1 inc:1 newe:1 4th:1 qtr:1 net:1 |@word oper:4 shr:2 loss:5 nine:1 ct:4 vs:8 four:1 net:2 108:1 000:8 55:1 sale:2 3:2 029:1 2:2 694:1 year:3 profit:4 42:1 15:1 511:1 177:1 13:1 mln:2 11:1 avg:1 shrs:1 1:2 233:1 136:1 217:1 981:1 note:1 current:1 qtr:1 figure:1 exclude:1 operating:1 carryforward:1 gain:2 26:1 dlrs:2 88:1 prior:1 period:1
|
NEWPORT ELECTRONICS INC <NEWE> 4TH QTR NET
Oper shr loss nine cts vs loss four cts
Oper net loss 108,000 vs loss 55,000
Sales 3,029,000 vs 2,694,000
Year
Oper shr profit 42 cts vs profit 15 cts
Oper net profit 511,000 vs profit 177,000
Sales 13.3 mln vs 11.2 mln
Avg shrs 1,233,136 vs 1,217,981
Note: Current qtr and year figures exclude operating loss
carryforward gain of 26,000 dlrs vs gain of 88,000 dlrs in
prior year periods.
|
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