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training/7046
|
training/7046 |@title first:1 wisconsin:1 fwb:1 make:1 acquisition:1 |@word first:1 wisconsin:1 corp:1 say:2 agree:1 acquire:1 north:2 shore:2 bancorp:1 inc:1 northbrook:1 ill:1 6:1 160:1 000:1 dlrs:1 cash:1 slightly:1 twice:1 book:1 value:1 subject:1 approval:1 shareholder:1 regulatory:1 authority:1 company:1 completion:1 expect:1 third:1 quarter:1
|
FIRST WISCONSIN <FWB> TO MAKE ACQUISITION
First Wisconsin Corp said it has
agreed to acquire North Shore Bancorp Inc of Northbrook, Ill.,
for 6,160,000 dlrs in cash, or slightly more than twice book
value, subject to approval by North Shore shareholders and
regulatory authorities.
The company said completion is expected in the third
quarter.
|
training/7047
|
training/7047 |@title italy:1 february:1 payment:1 balance:1 surplus:1 |@word italy:3 overall:1 balance:3 payment:2 show:3 surplus:3 1:3 461:1 billion:5 lira:3 february:2 1987:3 compare:2 deficit:3 145:1 january:1 provisional:2 bank:2 figure:2 578:1 month:3 1986:2 first:2 two:2 302:1 4:1 622:1 period:1 say:1 cumulative:1 match:1 total:1 calculate:1 individual:1 monthly:1 nature:1 certain:1 datum:1
|
ITALY'S FEBRUARY PAYMENTS BALANCE IN SURPLUS
Italy's overall balance of payments showed
a surplus of 1,461 billion lire in February 1987 compared with
a deficit of 1,145 billion in January, provisional Bank of
Italy figures show.
The February surplus compared with a deficit of 1,578
billion lire in the same month for 1986.
For the first two months of 1987, the balance of payments
showed a surplus of 302 billion lire against a deficit of 4,622
billion in the same 1986 period.
The Bank of Italy said the cumulative balance for the first
two months of 1987 does not match the total calculated on the
individual monthly figures because of the provisional nature of
certain data.
|
training/7048
|
training/7048 |@title belvedere:1 corp:1 blv:1 4th:1 qtr:1 loss:1 |@word oper:4 shr:2 loss:8 21:1 ct:4 vs:8 95:1 net:3 666:2 000:8 2:5 184:1 avg:2 shrs:2 3:1 181:1 805:1 310:1 200:1 year:2 30:1 23:1 823:1 606:1 757:1 040:1 614:1 225:1 note:1 exclude:1 realize:1 investment:1 gain:1 dlrs:4 289:1 quarter:1 274:1 1:1 468:1
|
BELVEDERE CORP <BLV> 4TH QTR LOSS
Oper shr loss 21 cts vs loss 95 cts
Oper net loss 666,000 vs loss 2,184,000
Avg shrs 3,181,805 vs 2,310,200
Year
Oper shr loss 30 cts vs loss 23 cts
Oper net loss 823,000 vs loss 606,000
Avg shrs 2,757,040 vs 2,614,225
NOTE: Net excludes realized investment gains of 666,000
dlrs vs 289,000 dlrs in quarter and 2,274,000 dlrs vs 1,468,000
dlrs in year.
|
training/7049
|
training/7049 |@title italian:1 net:1 reserve:1 rise:1 february:1 |@word italy:2 net:1 official:1 reserve:1 rise:1 66:1 172:1 billion:7 lira:4 february:2 1987:1 previously:1 report:1 62:1 174:1 january:3 bank:1 say:1 gold:1 holding:2 end:1 total:2 35:1 203:1 unchanged:1 convertible:1 currency:2 18:1 467:1 14:1 899:1 european:1 unit:1 ecu:1 10:2 156:1 133:1
|
ITALIAN NET RESERVES RISE IN FEBRUARY
Italy's net official reserves rose to
66,172 billion lire in February 1987 from a previously reported
62,174 billion in January, the Bank of Italy said.
Gold holdings at end-February totalled 35,203 billion lire,
unchanged on January.
Convertible currencies totalled 18,467 billion lire, up
from 14,899 billion in January, while European Currency Unit
(ECU) holdings were 10,156 billion lire against 10,133 billion.
|
training/7052
|
training/7052 |@title carter:2 hawley:2 hale:2 stores:2 inc:2 4th:2 qtr:2 shr:2 loss:2 1:2 58:4 dlrs:2 vs:2 profit:2 ct:2 |@word
|
CARTER HAWLEY HALE STORES INC 4TH QTR SHR LOSS 1.58 DLRS VS PROFIT 58 CTS
CARTER HAWLEY HALE STORES INC 4TH QTR SHR LOSS 1.58 DLRS VS PROFIT 58 CTS
|
training/7057
|
training/7057 |@title waste:2 management:2 say:2 prepared:2 raise:2 bid:2 chemlawn:2 33:2 dlrs:2 share:2 |@word
|
WASTE MANAGEMENT SAYS IT IS PREPARED TO RAISE ITS BID FOR CHEMLAWN TO 33 DLRS A SHARE
WASTE MANAGEMENT SAYS IT IS PREPARED TO RAISE ITS BID FOR CHEMLAWN TO 33 DLRS A SHARE
|
training/7058
|
training/7058 |@title transamerica:1 ta:1 gain:1 unit:1 sale:1 |@word transamerica:4 corp:1 say:5 expect:2 realize:1 gain:3 75:2 mln:4 dlrs:3 previously:2 announce:1 sale:4 group:2 life:5 health:1 operation:2 transamerican:1 occidental:1 insurance:1 co:2 subsidiary:1 provident:1 accident:1 pacc:1 cos:2 unit:1 plan:1 change:1 conservative:1 method:1 amortize:1 defer:1 policy:1 acquisition:1 cost:1 result:1 one:2 time:1 charge:1 offset:1 sign:1 definitive:1 agreement:1 structure:1 reinsurance:1 transaction:1 involve:1 400:1 reserve:1 liability:1 dlr:1 125:1 statutory:1 surplus:1 support:2 sell:1 use:1 effort:1 accelerate:1 growth:1 remain:1 business:1 closing:1 may:1 subject:1 regulatory:1 approval:1
|
TRANSAMERICA <TA> TO HAVE GAIN ON UNIT SALE
Transamerica Corp said it expects
to realize a gain of about 75 mln dlrs on the
previously-announced sale of the group life and health
operations of its Transamerican Occidental Life Insurance Co
subsidiary to Provident Life and Accident Co <PACC>.
But it said its Transamerica Life Cos unit plans to change
to a more conservative method of amortizing deferred policy
acquisition costs, resulting in a one-time charge that will
offset most of the gain from the sale.
Transamerica said it has now signed a definitive agreement
for the sale, which will be structured as a reinsurance
transaction involving about 400 mln dlrs of reserve
liabilities.
It said the 75 mln dlr gain from the sale and about 125 mln
dlrs of statutory surplus that previously supported operations
of the group being sold will be used to support Transamerica
Life Cos' efforts to accelerate the growth of its remaining
businesses. It said closing is expected by May One, subject to
regulatory approvals.
|
training/706
|
training/706 |@title rospatch:1 rpch:1 respond:1 diagnostic:1 drs:1 |@word rospatch:4 corp:1 say:4 news:1 release:1 later:1 response:1 today:1 acquisition:1 bid:2 diagnostic:2 retrieval:1 systems:1 inc:1 22:1 dlrs:3 share:2 earlier:1 request:1 stock:1 halt:1 counter:1 trading:1 last:1 trade:1 24:1 1:2 8:1 total:1 53:1 mln:1 cash:1 tender:1 offer:1 less:1 51:1 pct:2 rosptach:1 outstanding:1 common:1 fourth:1 quarter:1 end:1 december:2 31:1 1986:1 report:1 net:1 loss:2 2:1 649:1 000:1 10:1 compare:1 627:1 500:1 35:1 ct:1 profit:1 1985:1 period:1 brookehill:1 group:1 new:1 york:1 9:1 7:1 stake:1 j:1 parini:1 chief:1 executive:1 respond:1 january:1 eight:1 investment:1 vote:1 confidence:1 company:1
|
ROSPATCH <RPCH> TO RESPOND TO DIAGNOSTIC <DRS>
Rospatch Corp said it will
have a news release later in response to today's acquisition
bid by Diagnostic Retrieval Systems Inc for 22 dlrs a share.
Rospatch earlier requested its stock be halted in over the
counter trading, last trade 24-1/8.
Diagnostic said its bid was for a total 53 mln dlrs through
a cash tender offer for all, but not less than 51 pct of
Rosptach outstanding common.
For its fourth-quarter ended December 31, 1986, Rospatch
reported net loss 2,649,000 or 1.10 dlrs a share compared a
loss of 627,500 or 35 cts profit for the 1985 period.
In December the Brookehill Group in New York said it had
9.7 pct stake. J.A. Parini, Rospatch chief executive, responded
on January eight by saying the investment was a vote in
confidence in the company.
|
training/7060
|
training/7060 |@title ameritrust:1 amtr:1 set:1 two:1 one:1 stock:1 split:1 |@word ameritrust:1 corp:1 say:3 board:2 declare:1 two:1 one:1 stock:1 split:2 management:1 intend:1 recommend:1 director:2 increase:3 quarterly:1 dividend:1 least:1 50:1 ct:2 per:1 share:3 presplit:1 current:1 44:1 company:1 shareholder:1 may:1 14:1 annual:1 meeting:1 ask:1 approve:1 authorized:2 common:2 100:1 mln:2 25:1 well:1 limitation:1 liability:1 establishment:1 classified:1 subject:1 approval:1
|
AMERITRUST <AMTR> SETS TWO FOR ONE STOCK SPLIT
AmeriTrust Corp said its board
declared a two-for-one stock split, and management intends to
recommend to directors an increase in the quarterly dividend to
at least 50 cts per share presplit from the current 44 cts.
The company said shareholders at the May 14 annual meeting
will be asked to approve an increase in authorized common
shares to 100 mln from 25 mln, as well as a limitation of
directors' liability and the establishment of a classified
board.
The split is subject to approval of the increase in
authorized common shares, it said.
|
training/7061
|
training/7061 |@title carter:1 hawley:1 hale:1 stores:1 inc:1 chh:1 4th:1 qtr:1 loss:1 |@word ended:1 jan:1 31:1 shr:2 loss:5 1:15 58:4 dlrs:19 vs:16 profit:6 ct:5 net:3 24:1 2:8 mln:20 18:1 9:2 sale:4 34:1 billion:4 32:4 avg:2 shrs:2 20:2 0:4 19:2 8:2 year:6 27:1 92:1 4:6 48:1 09:1 3:3 98:1 6:2 note:1 share:6 result:4 provision:1 preferred:1 dividend:1 per:2 operation:1 46:2 71:1 quarter:5 44:2 05:1 fully:1 diluted:1 basis:1 11:1 67:1 42:1 respectively:1 base:1 33:1 outstanding:1 1986:2 period:2 include:4 pre:2 tax:3 pf:1 dlr:1 john:1 wanamaker:1 25:1 relate:1 recapitalization:1 combine:1 primary:1 charge:3 57:1 also:1 29:1 equal:2 premium:1 early:1 retirement:1 debt:1 1985:1 13:1 holt:1 renfrew:1 lifo:1 7:1 credit:3
|
CARTER HAWLEY HALE STORES INC <CHH> 4TH QTR LOSS
ended Jan 31
Shr loss 1.58 dlrs vs profit 58 cts
Net loss 24.2 mln vs profit 18.9 mln
Sales 1.34 billion vs 1.32 billion
Avg shrs 20.0 mln vs 19.8 mln
Year
Shr loss 1.27 dlrs vs profit 92 cts
Net profit 4.2 mln vs profit 48.0 mln
Sales 4.09 billion vs 3.98 billion
Avg shrs 20.2 mln vs 19.6 mln
NOTES: Share results after provision for preferred
dividends
Per share profits from operations were 1.46 dlrs vs 71 cts
in the quarter and 2.44 dlrs vs 1.05 dlrs in year. On a fully
diluted basis this was 1.11 dlrs vs 67 cts and 2.42 dlrs vs
1.58 dlrs, respectively, based on 33.0 mln vs 32.3 mln shares
outstanding in quarter and 32.8 mln vs 32.1 mln in year
1986 results in both periods include pre-tax losses pf 2.2
mln dlr on sale of John Wanamaker and 25.0 mln dlrs related to
recapitalization, for a combined primary per share charge of
1.58 dlrs in quarter and 1.57 dlrs in year.
1986 results also include an after-tax charge 29.3 mln
dlrs, equal to 1.46 dlrs a share in quarter and 1.44 dlrs in
year, for premium on early retirement of debt
1985 net in both periods includes pre-tax loss of 2.4 mln
dlrs, equal to 13 cts a share, on sale of Holt Renfrew
Results include LIFO charge 1.7 mln dlrs vs credit 4.4 mln
dlrs in quarter and credit 1.9 mln dlrs vs credit 6.4 mln dlrs
in year
|
training/7062
|
training/7062 |@title oecd:1 farm:1 subsidy:1 study:1 result:1 detail:1 |@word result:8 controversial:2 study:11 farm:8 subsidy:15 conduct:1 paris:2 base:2 organisation:1 economic:2 cooperation:1 development:1 oecd:15 show:5 japan:8 high:3 agriculture:5 world:3 dairy:2 farmer:5 benefit:1 commodity:2 producer:4 release:2 objection:1 country:6 provide:2 reuter:1 official:7 several:3 condition:1 identify:1 calculate:1 level:6 year:1 1979:3 81:3 use:2 new:2 measure:2 call:1 equivalent:1 pse:6 product:1 amount:1 aid:2 express:1 percentage:1 average:2 83:1 3:1 pct:17 european:1 community:1 68:2 8:3 united:3 states:3 48:2 2:2 wheat:1 95:1 ec:9 28:1 1:4 u:13 17:1 rice:2 compare:2 13:3 6:1 5:2 4:2 calculation:4 coarse:1 grain:2 reach:1 107:1 27:2 9:4 beef:1 54:1 versus:2 52:1 7:1 conclude:1 sugar:2 calculated:1 industrial:1 canada:1 australia:1 zealand:1 case:2 much:2 low:1 source:2 say:6 argentina:1 brazil:1 two:1 major:2 develop:1 include:1 work:2 hope:2 persuade:1 reluctant:1 soon:1 perhaps:1 coincide:1 ministerial:1 meeting:1 may:2 basis:1 negotiation:2 uruguay:2 round:2 global:1 trade:1 talk:1 underway:1 geneva:1 british:1 minister:1 michael:1 jople:1 visit:1 washington:1 week:2 endorse:1 starting:1 point:1 tool:1 negotiate:1 domestic:2 support:1 cause:1 present:1 crisis:1 however:2 highlight:1 assistance:1 familiar:1 department:1 research:1 service:1 recently:1 publish:1 attempt:1 verify:1 update:3 1982:4 84:3 substantially:1 different:1 part:1 policy:1 elsewhere:1 change:1 markedly:1 period:1 example:1 usda:2 find:1 corn:3 25:1 49:1 zero:1 nine:1 french:1 maize:1 producers:1 association:1 president:1 marcel:1 cazale:1 cite:1 tell:1 reporter:1 last:1 subsidize:1 probably:1 increase:3 since:1 1984:1 ask:1 contribute:1 datum:1 1985:2 relevant:1 current:1 situation:1 take:1 month:1 complete:1 expect:1 substantial:1 impose:1 restrictive:1 import:1 quota:1 industry:1 also:1 bill:1 sharply:1 boost:1 government:1 deficiency:1 payment:1 apply:1 marketing:1 loan:1 add:1
|
OECD FARM SUBSIDIES STUDY RESULTS DETAILED
The results of a controversial study
of farm subsidies conducted by the Paris-based Organisation for
Economic Cooperation and Development, OECD, show Japan has the
highest agriculture subsidies in the world, and that dairy
farmers benefit more than any other commodity producers from
subsidies.
Results of the study, which has not been released by OECD
because of objections from some countries, were provided to
Reuters by officials of several countries on condition they not
be identified.
The OECD study calculates the level of farm subsidies for
the years 1979-81 using a new measure called the producer
subsidy equivalent, PSE.
The study shows that on dairy products Japan's PSE, or the
amount of aid to farmers expressed as a percentage, averaged
83.3 pct over 1979-81, with the European Community at 68.8 pct
and the United States 48.2 pct.
For wheat Japan's PSE averaged 95.8 pct, the EC 28.1 and
the U.S. 17.2. Japan's rice PSE was 68.8 pct compared to the EC
13.6 and the U.S. 5.4 pct, the OECD calculations show.
In coarse grains, Japan's subsidies reached 107.1 pct
compared with 27.9 pct for the EC and 13.1 pct for the U.S.
Japan's beef subsidy was 54.9 pct versus 52.7 pct for the EC
and 9.5 pct for the U.S., OECD concluded.
For sugar, Japan's PSE was 48.4 pct versus 27.9 pct in the
EC and 13.1 pct for the U.S., the study shows.
The OECD calculated farm subsidies for other industrial
countries such as Canada, Australia and New Zealand but in most
cases the results were much lower than for the U.S., EC and
Japan, the sources said.
Subsidies in Argentina and Brazil, two major developing
country producers of commodities, were not included in the OECD
work.
Officials said they hope to persuade reluctant countries to
release the study soon, perhaps coinciding with the OECD
ministerial meeting in Paris during May.
Some officials hope the OECD results will be used as a
basis for negotiations during the Uruguay round of global trade
talks now underway in Geneva.
British Agriculture Minister Michael Jopling during a visit
to Washington this week endorsed the OECD work as a starting
point for the Uruguay round negotiations on agriculture.
He said the PSE calculations provide a tool to negotiate
down domestic farm support levels, which are a major cause of
the present crisis in world agriculture.
However, the OECD study results are controversial because
they highlight the levels of assistance to farmers, officials
familiar with the study said.
The U.S. Agriculture Department's Economic Research Service
recently published a study of farm subsidies in an attempt to
verify the OECD results and update them to 1982-84.
In some cases the results were substantially different than
the OECD's, in part because farm policies in both the U.S. and
elsewhere had changed markedly by 1982-84 from the OECD base
period of 1979-81, U.S. officials said.
For example, the USDA study found the United States
subsidies to corn producers were higher in 1982-84, at 25 to 49
pct, than in the EC, at zero to nine pct.
French Maize Producers Association president Marcel Cazale,
citing the result of the USDA calculation for corn, told
reporters last week that the United States subsidizes its
farmers more than the EC.
However, the sources said EC corn subsidies are probably
higher than the U.S. now because of increases since 1984.
Officials of several countries have been asked to
contribute data to OECD so that the study can be updated to
1985 subsidy levels, a much more relevant measure of the
current world farm situation.
The updated calculations, which may take several months to
complete, are expected to show substantial increases in U.S.
subsidy levels for sugar because the U.S. imposed restrictive
import quotas in 1982 as aid to the domestic industry.
U.S. subsidy levels also are increased by the 1985 farm
bill, which sharply boosted government deficiency payments to
grain farmers and applied a marketing loan for rice, officials
added.
|
training/7063
|
training/7063 |@title first:1 american:1 financial:1 famr:1 special:1 payout:1 |@word first:1 american:1 financial:1 corp:1 say:1 board:1 declare:1 special:1 dividend:2 20:1 ct:2 per:1 share:1 regular:1 25:1 quarterly:1 payable:1 april:1 15:1 holder:1 record:1 march:1 31:1
|
FIRST AMERICAN FINANCIAL<FAMR> IN SPECIAL PAYOUT
First American Financial Corp
said its board declared a special dividend of 20 cts per share
and the regular 25 ct quarterly dividend, both payable April 15
to holders of record March 31.
|
training/7064
|
training/7064 |@title caribou:1 energy:1 reverse:1 split:1 approve:1 |@word caribou:1 energy:1 inc:1 say:1 shareholder:1 approve:1 one:1 100:1 reverse:1 split:1 take:1 effect:1 tomorrow:1 company:1 change:1 name:1 texas:1 petroleum:1 corp:1
|
CARIBOU ENERGY REVERSE SPLIT APPROVED
<Caribou Energy Inc> said shareholders
have approved a one-for-100 reverse split that will take effect
by tomorrow and the company has changed its name to <Texas
Petroleum Corp>.
|
training/7065
|
training/7065 |@title national:1 capital:1 ncet:1 make:1 sale:1 |@word national:1 capital:1 real:1 estate:1 trust:2 say:3 enter:1 definitive:1 agreement:1 sell:1 irvine:2 commercial:1 center:1 calif:1 shuwa:1 corp:1 california:1 10:1 85:1 mln:1 dlrs:3 buyer:1 pl:1 ace:1 250:1 000:2 escrow:1 account:1 nonrefundable:1 deposit:1 exist:1 debt:1 secure:1 property:1 6:1 700:1 due:1 completion:1 transaction:1 expect:1 early:1 april:1
|
NATIONAL CAPITAL <NCETS> TO MAKE SALE
National Capital Real Estate
Trust said it has entered into a definitive agreement to sell
its Irvine Commercial Center in Irvine, Calif., to Shuwa Corp
of California for 10.85 mln dlrs.
It said the buyer has pl;aced 250,000 dlrs into an escrow
account as a nonrefundable deposit.
The trust said existing debt secured by the property of
about 6,700,000 dlrs in due on completion of the transaction,
which is expected in early April.
|
training/7066
|
training/7066 |@title swissair:1 report:1 low:1 profit:1 dividend:1 |@word swissair:2 swsz:1 z:1 report:1 5:4 8:1 pct:1 drop:2 1986:3 net:2 profit:7 64:1 mln:11 swiss:2 franc:13 say:7 line:1 new:1 flexible:1 dividend:1 policy:1 would:2 cut:1 payout:1 33:1 per:1 share:1 38:1 president:1 robert:1 staubli:2 tell:1 news:1 conference:1 first:1 two:1 month:1 year:7 give:1 hope:1 1987:1 least:1 equal:1 last:3 figure:2 much:3 depend:2 outside:1 factor:1 fuel:2 price:2 exchange:3 rate:3 fall:1 largely:1 due:2 60:1 loss:1 core:1 fly:1 business:1 27:1 previous:2 reach:2 receipt:1 68:1 plane:1 sale:2 compare:1 mere:1 17:1 1985:1 finance:1 head:1 martin:1 juenger:1 expect:1 around:1 20:1 although:1 speed:1 decide:1 sell:1 dc:1 10:1 gross:2 340:1 276:1 subtract:2 ordinary:1 depreciation:3 382:1 314:1 include:1 45:1 supplementary:1 result:1 well:1 prediction:1 make:1 time:1 suffer:1 considerably:1 fluctuation:1 particular:1 strength:2 negative:1 effect:1 revenue:1 sharp:1 dollar:1 partially:1 compensate:1 cheap:1 offset:1 european:1 currency:1 income:1 generate:1 service:1 country:1 shrink:1 substantial:1 margin:1 trend:1 therefore:1 hit:1 severely:1 airline:1
|
SWISSAIR REPORTS LOWER PROFIT AND DIVIDEND
Swissair <SWSZ.Z> reported a 5.8 pct
drop in 1986 net profit to 64.5 mln Swiss francs and said that,
in line with its new, flexible dividend policy, it would cut
its payout to 33 francs per share from 38.
President Robert Staubli told a news conference that the
first two months of this year gave hope that 1987 profit would
at least equal last year's figure, but said much depended on
outside factors such as fuel prices and the exchange rate.
The fall was largely due to a 60 mln franc loss on
Swissair's core flying business last year, against a profit of
27 mln francs the previous year, he said.
The net profit figure was reached after receipt of some 68
mln francs from plane sales, compared with a mere 17 mln francs
in 1985. Finance Head Martin Juenger said he expected around 20
mln francs from sales this year, although said much depended on
the speed with which it decided to sell its DC-10s.
Gross profit for 1986 reached 340.5 mln francs, with 276
mln francs subtracted for ordinary depreciation.
Gross profits for the previous year had been 382.5 mln
francs, with 314 mln subtracted for depreciation, including 45
mln francs supplementary depreciation.
Staubli said the 1986 result, well below predictions made
this time last year, suffered considerably due to exchange rate
fluctuations, in particular the strength of the Swiss franc.
While the negative effects on revenue of the sharp drop in
the dollar were partially compensated for by cheaper fuel
prices, there was no such offset for the strength of the franc
against other European currencies.
'Income and profit generated by services to these countries
shrank by a very substantial margin,' he said. 'Exchange rate
trends therefore hit us much more severely than most other
airlines.'
|
training/7067
|
training/7067 |@title canadian:1 roxy:1 new:1 alberta:1 oil:1 discovery:1 |@word canadian:4 roxy:4 petroleum:1 ltd:3 say:3 new:1 oil:4 discovery:3 peerless:1 lake:1 area:1 north:1 central:1 alberta:1 capable:1 flow:1 1:2 000:1 barrel:2 day:2 low:1 zone:2 500:2 separate:1 upper:1 35:1 pct:5 interest:1 five:1 year:1 royalty:1 free:1 well:3 know:1 et:1 al:1 trout:1 a14:1 8:1 89:1 3:1 w5:1 texaco:1 canada:1 inc:1 hold:2 25:1 mlc:1 gas:1 15:1 northstar:1 energy:1 corp:1 13:1 5:2 tricentrol:1 11:1 drilling:2 start:1 follow:1 exploratory:1 one:1 mile:1 northwest:1 company:1 net:1 6:1 acre:1 vicinity:1 seismic:1 program:1 underway:1 evaluate:1 opportunity:1
|
CANADIAN ROXY IN NEW ALBERTA OIL DISCOVERY
<Canadian Roxy Petroleum Ltd>
said a new oil discovery in the Peerless Lake area of
north-central Alberta is capable of flowing at over 1,000
barrels of oil a day from a lower zone and more than 1,500
barrels a day from a separate upper zone.
Canadian Roxy has a 35 pct interest in the five-year
royalty free well, known as the Canadian Roxy et Al Trout
A14-8-89-3 W5M. Texaco Canada Inc holds 25 pct, MLC Oil and Gas
Ltd 15 pct, Northstar Energy Corp 13.5 pct and Tricentrol Oils
Ltd 11.5 pct.
Canadian Roxy said drilling has started on a follow-up
exploratory well about one mile northwest of the discovery
well.
The company said it holds a net 6,500 acres in the vicinity
of the discovery and a seismic program is underway to evaluate
further drilling opportunities.
|
training/7068
|
training/7068 |@title waste:1 management:1 wmx:1 raise:1 chemlawn:1 chem:1 bid:1 |@word waste:2 management:2 inc:1 say:3 send:1 letter:1 chemlawn:3 corp:1 board:1 prepared:1 increase:1 bid:1 33:1 dlrs:3 share:2 27:2 promptly:1 negotiate:1 execute:1 simple:1 two:1 step:1 merger:1 agreement:2 contain:1 essential:1 covenant:1 condition:1 upon:1 would:1 amend:1 cash:1 tender:1 offer:1
|
WASTE MANAGEMENT<WMX> TO RAISE CHEMLAWN<CHEM>BID
Waste Management Inc said it
sent a letter to the ChemLawn Corp board, saying it is prepared
to increase its bid for ChemLawn to 33 dlrs a share,
from 27 dlrs, if ChemLawn promptly negotiates and executes a
simple two-step merger agreement containing only essential
covenants and conditions.
Upon such an agreement, Waste Management said, it would
amend its 27 dlrs a share cash tender offer.
|
training/707
|
training/707 |@title green:1 tree:1 acceptance:1 inc:1 gnt:1 sets:1 dividend:1 |@word qtly:1 dividend:1 12:2 1:2 2:2 ct:2 vs:1 pay:1 march:2 31:1 record:1 16:1
|
GREEN TREE ACCEPTANCE INC <GNT> SETS DIVIDEND
Qtly dividend 12-1/2 cts vs 12-1/2 cts
Pay March 31
Record March 16
|
training/7070
|
training/7070 |@title u:1 first:1 time:1 jobless:1 claim:1 fall:1 week:1 |@word new:1 application:1 unemployment:1 insurance:1 benefit:2 fall:1 seasonally:1 adjust:1 340:1 000:4 week:4 end:2 march:1 7:1 373:1 prior:1 labor:1 department:1 say:1 number:1 people:1 actually:1 receive:1 regular:1 state:1 program:1 total:1 2:2 507:1 feb:1 28:1 late:1 period:1 figure:1 available:1 477:1 previous:1
|
U.S. FIRST TIME JOBLESS CLAIMS FELL IN WEEK
New applications for unemployment
insurance benefits fell to a seasonally adjusted 340,000 in the
week ended March 7 from 373,000 in the prior week, the Labor
Department said.
The number of people actually receiving benefits under
regular state programs totaled 2,507,000 in the week ended Feb
28, the latest period for which that figure was available.
That was up from 2,477,000 the previous week.
|
training/7071
|
training/7071 |@title cocoa:1 delegate:1 optimistic:1 buffer:1 stock:1 rule:1 |@word hope:1 mount:1 agreement:3 cocoa:8 buffer:10 stock:10 rule:7 international:3 organization:2 icco:6 council:7 meeting:4 open:2 today:3 delegate:7 say:8 producer:4 consumer:4 member:2 opening:1 session:3 prospect:2 market:1 support:1 mechanism:1 improve:1 chance:1 good:1 get:1 end:1 next:1 week:2 ghanaian:1 spokesman:2 mama:1 mohammed:2 tell:1 journalists:1 peter:1 baron:3 call:1 tone:1 negotiation:3 optimistic:1 realistic:1 fail:1 agree:2 new:1 come:2 force:1 january:1 deep:1 difference:1 opinion:1 preclude:1 serious:1 discussion:1 matter:1 time:1 exist:1 100:1 000:1 tonne:1 freeze:1 fund:1 balance:1 250:1 mln:1 dlrs:1 make:2 priority:1 semi:1 annual:1 order:1 stop:1 slide:1 world:1 price:2 yesterday:1 principle:2 basis:1 break:1 lunch:1 reconvene:1 1500:1 hrs:2 working:1 group:1 meet:2 since:1 monday:2 tackle:1 issue:1 1600:1 executive:1 director:1 kobena:1 erbynn:2 present:1 fleshed:1 version:1 draft:2 proposal:2 prepare:1 earlier:1 much:1 clear:1 indication:1 accord:1 detail:1 elaborate:1 separately:1 later:1 examine:1 scheme:1 include:1 three:1 limit:1 non:1 comprise:1 offer:1 system:1 buy:1 differential:1 pay:1 various:1 cocoas:1 morning:1 ivory:1 coast:1 delegation:1 give:1 minded:1 statement:1 willing:1 work:1 solution:1 could:2 effect:1 soon:1 possible:1 ivorian:1 agriculture:1 minister:1 denis:2 bra:1 kanon:1 chairman:2 expect:1 arrive:2 london:1 attend:2 talk:1 vice:1 sir:1 henry:1 grenada:1 chair:1 place:1 soviet:1 east:1 german:1 conflicting:1 sugar:1 afternoon:1
|
COCOA DELEGATES OPTIMISTIC ON BUFFER STOCK RULES
Hopes mounted for an agreement on cocoa
buffer stock rules at an International Cocoa Organization,
ICCO, council meeting which opened here today, delegates said.
Both producer and consumer ICCO members said after the
opening session that prospects for an agreement on the cocoa
market support mechanism were improving.
'The chances are very good as of now of getting buffer stock
rules by the end of next week,' Ghanaian delegate and producer
spokesman Mama Mohammed told journalists.
Consumer spokesman Peter Baron called the tone of the
negotiations 'optimistic and realistic.'
The ICCO council failed to agree on buffer stock rules when
a new International Cocoa Agreement came into force in January,
with deep differences of opinion precluding serious discussions
on the matter at that time. The existing buffer stock of about
100,000 tonnes of cocoa was frozen, with a funds balance of 250
mln dlrs.
The ICCO made buffer stock rules negotiations a priority at
this semi-annual council meeting in order to stop the slide in
world cocoa prices.
Consumers and producers agreed yesterday on the principles
as a basis for negotiations.
The council broke for lunch, and reconvenes at 1500 hrs. A
working group which has been meeting since Monday will tackle
the buffer stock rules issue again at 1600 hrs, when ICCO
executive director Kobena Erbynn presents a fleshed-out version
of a draft proposal he prepared earlier this week, delegates
said.
Mohammed said delegates will have a much clearer indication
of prospects for an accord after details of the rules are
elaborated by Erbynn, and after producers and consumers meet
separately later today to examine the scheme.
The draft proposal included three principles: a limit to
non- member cocoa comprising the buffer stock, an offer system
for buying buffer stock cocoa, and price differentials to be
paid for various cocoas making up the buffer stock, delegates
said.
During the morning council session, the Ivory Coast
delegation gave 'an open minded statement' that it is willing to
work out a buffer stock rules solution which could come into
effect as soon as possible, Baron said.
Ivorian Agriculture Minister Denis Bra Kanon, chairman of
the ICCO council, was now expected to arrive in London Monday
to attend the talks, Baron said. Vice chairman Sir Denis Henry
of Grenada chaired the meeting in his place.
Soviet and East German delegates did not attend the council
session because of a conflicting International Sugar
Organization meeting today, but could arrive this afternoon,
delegates said.
|
training/7072
|
training/7072 |@title stuarts:1 department:1 stores:1 stus:1 4th:1 qtr:1 net:1 |@word ended:1 jan:1 31:2 shr:2 one:1 ct:4 vs:6 net:2 29:2 000:4 1:3 350:1 revs:2 43:1 7:1 mln:4 32:1 4:1 year:1 62:1 251:1 2:1 520:1 129:1 9:1 96:1 note:1 full:1 name:1 stuarts:1 department:1 stores:1 inc:1
|
STUARTS DEPARTMENT STORES <STUS> 4TH QTR NET
Ended Jan 31
Shr one ct vs 31 cts
Net 29,000 vs 1,350,000
Revs 43.7 mln vs 32.4 mln
Year
Shr 29 cts vs 62 cts
Net 1,251,000 vs 2,520,000
Revs 129.9 mln vs 96.1 mln
NOTE: Full name Stuarts Department Stores Inc.
|
training/7073
|
training/7073 |@title iomega:1 corp:1 iomg:1 expect:1 qtr:1 year:1 loss:1 |@word iomega:2 corp:1 announce:2 expect:2 revenue:4 first:4 quarter:5 1987:3 significantly:1 low:2 plan:2 anticipate:2 loss:4 annual:1 report:1 mail:1 stockholder:1 tomorrow:1 company:5 excess:1 10:1 mln:2 dlrs:2 primarily:1 result:1 say:3 recore:1 net:1 income:1 4:1 572:1 000:1 30:1 ct:1 per:1 share:1 fiscal:1 1986:1 35:1 0:1 lower:1 balance:1 also:1 record:1 entire:1 year:1 place:1 default:1 certain:1 covenant:2 bank:1 line:1 credit:1 unless:1 modify:1 currently:1 explore:1 alternative:1 raise:1 additional:1 fund:1 debt:1 equity:1 financing:1
|
IOMEGA CORP <IOMG> EXPECTS QTR AND YEAR LOSSES
Iomega Corp announced it expected
revenues for the first quarter of 1987 to be significantly
lower than planned and that it anticipated a loss for the
quarter.
In its annual report to be mailed to stockholders tomorrow,
the company will announce its first quarter loss will be in
excess of 10 mln dlrs primarily as a result of lower than
anticipated revenues.
The company said it recored net income of 4,572,000 dlrs,
or 30 cts per share, for its first quarter fiscal 1986, on
revenues of 35.0 mln.
The company said it lowered its revenue plan for the
balance of 1987 and also expects to record a loss for the
entire 1987 year.
Iomega said the first quarter loss will place the company
in default under certain covenants in its bank line of credit
unless these covenants are modified.
The company is currently exploring alternatives for raising
additional funds through a debt for equity financing.
|
training/7074
|
training/7074 |@title 3com:1 corp:1 coms:1 3rd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 22:1 ct:4 vs:8 13:2 net:2 3:2 166:1 000:4 1:1 780:1 sale:2 30:1 4:2 mln:8 16:1 9:2 avg:2 shrs:2 14:3 6:1 0:1 nine:1 mth:1 56:1 33:1 7:2 961:1 562:1 78:1 8:1 44:1
|
3COM CORP <COMS> 3RD QTR FEB 28 NET
Shr 22 cts vs 13 cts
Net 3,166,000 vs 1,780,000
Sales 30.4 mln vs 16.9 mln
Avg shrs 14.6 mln vs 14.0 mln
Nine mths
Shr 56 cts vs 33 cts
Net 7,961,000 vs 4,562,000
Sales 78.8 mln vs 44.7 mln
Avg shrs 14.3 mln vs 13.9 mln
|
training/7075
|
training/7075 |@title porsche:1 half:1 year:1 earning:1 call:1 satisfactory:1 |@word dr:1 ing:1 h:1 c:1 f:2 porsche:3 ag:1 pshg:1 say:7 earning:3 first:3 half:4 year:5 1986:1 87:2 satisfactory:2 despite:1 burden:1 cause:1 dollar:2 weakness:1 mark:6 stagnate:1 domestic:3 demand:3 semi:1 annual:1 shareholder:1 report:3 turnover:5 fall:4 six:2 pct:12 1:6 71:1 billion:6 83:2 period:1 1985:1 86:1 however:1 without:1 give:1 absolute:1 figure:1 26:2 283:1 mln:4 380:1 foreign:1 dip:1 43:1 45:1 last:1 although:1 export:2 quota:1 rise:4 79:1 car:3 sector:1 account:1 51:1 63:1 earlier:1 production:2 drop:1 five:2 25:2 876:1 27:1 381:1 manufacture:1 911:1 928:1 model:3 11:2 122:1 10:1 533:1 unit:4 924:1 944:1 cut:2 12:1 14:1 754:1 16:1 848:1 would:2 sale:6 four:1 269:1 414:1 comparable:1 u:1 continue:1 market:2 39:1 3:1 267:1 5:1 397:1 abroad:1 22:1 002:1 21:1 017:1 share:1 80:1 investment:1 reduce:1 108:1 125:1 hit:1 low:2 value:1 currency:1 important:1 nevertheless:1 finish:1 july:1 high:1 level:1
|
PORSCHE HALF-YEAR EARNINGS CALLED SATISFACTORY
Dr. Ing. H.C.F. Porsche AG <PSHG.F>
said earnings in first half year 1986/87 were 'satisfactory'
despite burdens caused by the dollar's weakness against the
mark and stagnating domestic demand.
In its semi-annual shareholders' report, Porsche said first
half turnover fell six pct to 1.71 billion marks from 1.83
billion in the same period of 1985/86.
However, earnings were satisfactory, it said, without
giving absolute figures.
Domestic turnover fell 26 pct to 283 mln marks from 380
mln.
Foreign turnover dipped to 1.43 billion marks from 1.45
billion in the first half of last year, although the export
quota rose to 83 pct from 79 pct.
The car sector accounted for 1.51 billion marks of
turnover, against 1.63 billion the year earlier, it said.
Production dropped five pct to 25,876 cars from 27,381.
Manufacture of the 911 and 928 models rose six pct to 11,122
from 10,533 units but production of 924 and 944 models was cut
by 12 pct to 14,754 units from 16,848 and would be cut further,
the report said.
Car sales fell four pct to 25.269 units from 26,414 in the
comparable half year, the report said. U.S. Demand continued
for all models but demand fell in other markets.
Domestic sales were 39 pct down at 3,267 units from 5,397,
while sales abroad rose five pct to 22,002 from 21,017. Share
of exports in sales rose to 87 pct from 80 pct.
Investments were reduced to 108 mln marks from 125 mln.
Earnings were hit by lower sales and by the lower value of
the dollar and currencies in other important markets.
Nevertheless, sales and turnover would finish the July 11
year at a 'high level,' Porsche said.
|
training/7076
|
training/7076 |@title progressive:1 bank:1 inc:1 psbk:1 |@word qtly:1 div:1 seven:2 ct:2 vs:1 prior:1 qtr:1 payable:1 april:1 15:1 record:1 march:1 31:1
|
PROGRESSIVE BANK INC <PSBK>
Qtly div seven cts vs seven cts in prior qtr
Payable April 15
Record March 31
|
training/7077
|
training/7077 |@title geriatric:1 medical:1 centers:1 inc:1 gemc:1 payout:1 |@word qtly:1 div:1 two:2 ct:2 vs:1 prior:1 pay:1 april:2 24:1 record:1 three:1
|
GERIATRIC AND MEDICAL CENTERS INC <GEMC> PAYOUT
Qtly div two cts vs two cts prior
Pay April 24
Record April Three
|
training/7078
|
training/7078 |@title convenient:1 food:1 mart:1 inc:1 cfmi:1 4th:1 qtr:1 net:1 |@word period:2 end:2 dec:2 28:2 shr:2 42:1 ct:4 vs:6 35:1 net:2 941:1 000:8 786:1 revs:2 12:1 798:1 2:2 269:1 year:1 97:1 83:1 211:1 1:1 841:1 19:1 027:1 6:1 474:1 note:1 1985:1 december:1 29:1 share:1 result:1 adjust:1 five:1 four:1 stock:2 split:1 april:1 1986:2 10:2 pct:1 dividend:1 issue:1
|
CONVENIENT FOOD MART INC <CFMI> 4TH QTR NET
Period ended Dec 28
Shr 42 cts vs 35 cts
Net 941,000 vs 786,000
Revs 12,798,000 vs 2,269,000
Year
Shr 97 cts vs 83 cts
Net 2,211,000 vs 1,841,000
Revs 19,027,000 vs 6,474,000
NOTE: 1985 period ended December 29
Share results adjusted for five-for-four stock split on
April 28, 1986 and 10 pct stock dividend issued Dec 10, 1986
|
training/7079
|
training/7079 |@title medchem:1 products:1 inc:1 mdch:1 2nd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 21:2 ct:4 vs:6 net:2 542:1 119:1 520:1 668:1 sale:2 2:1 035:1 759:1 1:2 804:1 350:1 1st:1 half:1 38:1 42:1 956:1 228:1 038:1 300:1 3:2 748:1 357:1 482:1 066:1
|
MEDCHEM PRODUCTS INC <MDCH> 2ND QTR FEB 28 NET
Shr 21 cts vs 21 cts
Net 542,119 vs 520,668
Sales 2,035,759 vs 1,804,350
1st half
Shr 38 cts vs 42 cts
Net 956,228 vs 1,038,300
Sales 3,748,357 vs 3,482,066
|
training/708
|
training/708 |@title argentine:1 oil:1 production:1 january:1 1987:1 |@word argentine:1 crude:1 oil:1 production:1 10:1 8:1 pct:2 january:4 1987:2 12:1 32:1 mln:2 barrel:2 13:1 81:1 1986:2 yacimientos:2 petroliferos:2 fiscale:2 say:1 natural:1 gas:1 output:1 total:1 1:2 15:1 billion:2 cubic:2 metrer:1 3:1 6:1 high:1 11:1 metre:1 produce:1 add:1
|
ARGENTINE OIL PRODUCTION DOWN IN JANUARY 1987
Argentine crude oil production was
down 10.8 pct in January 1987 to 12.32 mln barrels, from 13.81
mln barrels in January 1986, Yacimientos Petroliferos Fiscales
said.
January 1987 natural gas output totalled 1.15 billion cubic
metrers, 3.6 pct higher than 1.11 billion cubic metres produced
in January 1986, Yacimientos Petroliferos Fiscales added.
|
training/7080
|
training/7080 |@title u:1 k:1 money:1 market:1 give:1 191:1 mln:1 stg:1 help:1 |@word bank:4 england:1 say:1 give:1 money:1 market:1 191:1 mln:5 stg:5 assistance:1 afternoon:1 session:1 take:1 total:1 help:1 far:1 today:1 372:1 compare:1 upwards:1 revise:1 estimate:1 shortage:1 system:1 around:1 400:1 central:1 buy:1 bill:1 outright:1 comprise:1 15:1 band:2 one:1 9:2 7:1 8:1 pct:2 176:1 two:1 13:1 16:1
|
U.K. MONEY MARKET GIVEN FURTHER 191 MLN STG HELP
The Bank of England said it gave the
money market a further 191 mln stg assistance in the afternoon
session. This takes the Bank's total help so far today to 372
mln stg and compares with its upwards revised estimate of the
shortage in the system of around 400 mln stg.
The central bank bought bank bills outright comprising 15
mln stg in band one at 9-7/8 pct and 176 mln stg in band two at
9-13/16 pct.
|
training/7083
|
training/7083 |@title pagurian:1 corp:1 ltd:1 year:1 net:1 |@word shr:1 1:3 64:2 dlrs:1 vs:4 90:1 ct:1 net:1 9:1 mln:6 28:1 8:1 revs:1 73:1 35:1 note:1 share:1 outstande:1 39:1 5:1 32:1 avg:1 shrs:1 give:1 company:1 recently:1 raise:1 equity:1 voting:1 interest:1 hees:1 international:1 corp:1 13:1 4:1 pct:2 16:1 respectively:1
|
<PAGURIAN CORP LTD> YEAR NET
Shr 1.64 dlrs vs 90 cts
Net 64.9 mln vs 28.8 mln
Revs 73 mln vs 35 mln
NOTE: Shares outstanding 39.5 mln vs 32.1 mln. Avg shrs not
given.
Company recently raised equity and voting interests in
<Hees International Corp> to 13.4 pct and 16.1 pct,
respectively.
|
training/7085
|
training/7085 |@title unilever:1 plc:1 adjusts:1 dividend:1 |@word unilever:5 plc:2 un:1 say:1 reduction:1 u:1 k:1 advance:1 corporation:1 tax:1 act:2 prompt:1 company:2 adjust:1 1986:2 final:3 dividend:6 36:1 17p:1 per:1 share:1 originally:1 declare:2 35:1 18p:1 1985:1 amount:1 27:1 05p:1 adjustment:1 stem:1 equalisation:1 agreement:1 british:1 dutch:1 partner:1 nv:2 respect:1 pay:1 treat:1 part:1 remain:1 10:1 67:1 guilde:1 result:1 march:1 3:1
|
UNILEVER PLC ADJUSTS DIVIDEND
Unilever Plc <UN.AS> said a reduction in
U.K. Advance Corporation Tax, (ACT) has prompted the company to
adjust its 1986 final dividend to 36.17p per share from the
originally declared 35.18p.
Unilever's 1985 final dividend amounted 27.05p
The adjustment stemmed from the dividend equalisation
agreement between the British company and its Dutch partner
Unilever NV. ACT in respect of any dividend paid by Unilever
Plc has to be treated as part of the dividend.
Unilever NV final dividend remains 10.67 guilders as
declared with the 1986 results on March 3.
|
training/7087
|
training/7087 |@title jordan:1 sudan:1 sign:1 100:1 mln:1 dlr:1 barter:1 trade:1 pact:1 |@word jordan:2 sudan:2 sign:1 barter:1 trade:1 agreement:1 exchange:1 100:1 mln:1 dlrs:1 worth:1 good:1 year:1 sudanese:1 official:1 say:2 export:2 corn:1 sesame:1 peanut:1 spice:1 cow:1 hide:1 cement:1 tomato:1 puree:1 chemical:1 pharmaceutical:1
|
JORDAN, SUDAN SIGN 100 MLN DLR BARTER TRADE PACT
Jordan and Sudan signed a barter trade
agreement under which they will exchange 100 mln dlrs' worth of
goods a year, Sudanese officials said.
They said Sudan will export corn, sesame, peanuts, spices
and cow hides, while Jordan will export cement, tomato puree,
chemicals and pharmaceuticals.
|
training/7088
|
training/7088 |@title new:1 market:1 emerge:1 warrant:1 gold:1 |@word new:2 market:11 emerge:1 warrant:12 buy:3 gold:11 vehicle:3 banker:2 say:10 bring:1 play:4 commodity:2 option:5 field:1 security:1 past:3 three:2 week:3 swiss:9 office:1 american:2 bank:7 launch:3 total:1 four:4 issue:17 varying:1 condition:1 draw:1 renew:1 inflationary:1 worry:1 recovery:1 price:7 last:4 year:5 credit:2 suisse:2 first:3 boston:1 franc:3 bond:1 similar:1 character:1 though:1 aim:1 less:2 professional:1 still:1 small:3 take:2 together:1 lead:2 raise:2 50:1 mln:1 believe:1 meet:1 need:3 investor:6 predict:1 lively:1 future:2 andrew:1 barrett:3 citicorp:4 investment:2 switzerland:4 ag:2 give:2 chance:2 long:2 term:1 limited:1 risk:2 zurich:2 february:2 27:1 follow:1 second:1 later:1 issuer:1 case:2 citibank:2 na:1 idea:1 find:1 quick:2 copy:1 goldman:3 sachs:3 organize:1 co:2 branch:1 banque:1 indosuez:2 march:1 9:1 night:1 morgan:4 guaranty:3 another:1 trust:1 york:1 offer:1 strike:1 range:2 410:1 dlrs:3 ounce:3 underlie:1 430:1 dlr:1 level:1 one:2 premium:5 22:1 pct:6 36:2 maturity:2 18:1 month:2 longer:1 u:2 trace:1 inspiration:1 back:1 report:1 consumer:1 january:2 jump:1 0:1 7:1 threat:1 inflation:2 many:1 people:3 worried:1 mats:1 joensson:2 money:1 supply:1 germany:1 united:1 states:1 grow:1 strongly:1 want:1 ride:1 see:2 strong:1 gain:1 1986:1 languish:1 400:1 highly:1 leveraged:1 downside:1 limit:1 natural:1 develop:1 understand:2 pioneer:1 series:1 equity:1 link:1 cover:2 base:1 japanese:1 company:1 share:3 two:1 autumn:1 registered:1 bid:1 foreign:1 otherwise:1 closed:1 citizen:1 high:4 leverage:1 flurry:1 dry:1 fall:1 peak:1 basis:1 simple:1 implicit:3 volatility:3 model:4 devise:1 provide:1 scientific:1 comparison:1 title:1 martin:1 bachem:1 competitive:1 despite:1 relatively:1 five:1 425:1 955:1 make:1 spot:1 nearly:1 use:3 black:2 shole:2 4:1 3:1 mean:1 24:1 5:1 pay:1 claim:1 low:1 variant:1 point:1 volatily:1 emphasize:1 best:1 inexact:1 science:1 put:1 close:1 25:1 whatever:1 calculation:1 receive:1 warm:1 welcome:1 lot:1 demand:1 even:1 among:1 15:1 20:1 apiece:1 sophisticated:1
|
NEW MARKET EMERGES IN WARRANTS FOR GOLD
A new market has emerged in warrants to
buy gold, a vehicle which bankers say brings some of the play
of commodity options into the field of securities.
Over the past three weeks, Swiss offices of American banks
have launched a total of four issues of warrants with varying
conditions, drawing on renewed inflationary worries and the
recovery of the gold price last year.
And Credit Suisse and Credit Suisse-First Boston each
issued Swiss franc bonds with warrants for gold which have a
similar character, though they are aimed at a less professional
market.
The market is still small. Taken together, the four
American-led warrant issues raised only about 50 mln Swiss
francs.
But banks believe the vehicle meets a need of investors and
predicted a lively future.
Andrew Barrett of Citicorp Investment Bank (Switzerland) AG
said: 'The warrants give smaller investors a chance to have a
long-term investment in gold with limited risk.'
Citicorp in Zurich launched the first of these warrants on
February 27, following it up with a second issue less than a
week later. The issuer in both cases was Citibank NA.
The idea found some quick copies. Goldman Sachs in Zurich
organized and co-led an issue for the Swiss branch of Banque
Indosuez on March 9 and last night Morgan Guaranty
(Switzerland) AG did another for Morgan Guaranty Trust Co of
New York.
The four issues now offer investors striking prices for
gold ranging from the Indosuez issue at 410 dlrs an ounce, the
same price as the underlying commodity, to a 430 dlr level on
the first one for Citibank.
The premiums range from 22 pct to 36 pct and maturities
from 18 months to four years and three months, in all cases
longer than gold futures and options on U.S. Markets.
The bankers traced the inspiration for the market back to
the February report of U.S. Consumer prices for January, when a
jump of 0.7 pct raised again the threat of inflation.
'Many people are worried about inflation again,' said Mats
Joensson of Goldman Sachs. 'Money supply in Germany and the
United States has grown very strongly in the last year and
people want to take a ride on gold.'
The gold market, having seen strong gains in 1986, has
languished just above 400 dlrs an ounce over the past few
weeks. But the banks saw in warrants the vehicle for a more
highly leveraged play where the downside risk was limited.
Barrett said it was natural that the market developed in
Switzerland. 'People here understand gold, and they understand
warrants,' he said.
Citicorp (Switzerland) pioneered warrants with a series of
equity-linked covered issues based on Japanese company shares
over the past two years, and last autumn, Swiss banks launched
covered warrants in Swiss registered shares in a bid to give
foreign investors a chance to play in a market otherwise closed
to all but Swiss citizens, and to play it with higher leverage.
But after a quick flurry of issues, that market dried up
when Swiss shares prices fell from their January peaks.
The issues are being marketed not on the basis of simple
premiums, but on implicit volatility models devised to provide
scientific comparisons between titles in the options market.
Martin Bachem of Morgan Guaranty said his bank's issue was
competitive despite its relatively high premium. The issue, for
five ounces at 425 dlrs, was priced at 955 Swiss francs, making
a premium over the spot gold price of nearly 36 pct.
Using a Black Sholes options model, he said the issue's
long, 4.3-year maturity meant the warrants needed an implicit
volatility of gold of only 24.5 pct for the option to pay off,
which he claimed was lower than the other issues.
But Barrett said the Black Sholes variant Citicorp used
pointed to a higher volatily for the Morgan issue and
emphasized that the models were at best an inexact science.
And each bank, using its own model, put the implicit
volatility needed for its own issue at close to 25 pct.
Whatever the calculation, the issues have received a warm
welcome from investors.
Joensson of Goldman Sachs said there was a lot of demand,
even among small investors, who were buying 15 or 20 warrants
apiece. 'The most sophisticated ones wouldn't buy these because
the premiums are too high,' he said.
|
training/709
|
training/709 |@title rospatch:2 corp:2 reject:2 offer:2 diagnostic:2 retrieval:2 systems:2 inc:2 |@word
|
ROSPATCH CORP REJECTS OFFER FROM DIAGNOSTIC RETRIEVAL SYSTEMS INC
ROSPATCH CORP REJECTS OFFER FROM DIAGNOSTIC RETRIEVAL SYSTEMS INC
|
training/7090
|
training/7090 |@title metro:1 funding:1 shareholder:1 approve:1 merger:1 |@word metro:2 funding:2 corp:3 say:2 shareholder:2 approve:2 merger:1 maxcom:2 change:1 incorporation:1 nevada:1 delaware:1 also:2 subsidiary:1 comet:1 rename:1 usa:1 company:1 report:1 authorization:1 500:1 000:1 share:1 common:1 stock:2 set:1 aside:1 incentive:1 option:1 plan:1
|
METRO FUNDING SHAREHOLDERS APPROVE MERGER
<Metro Funding Corp> said its
shareholders approved its merger into <Maxcom Corp> and its
change of incorporation from Nevada to Delaware.
Metro Funding also said its subsidiary, Comet Corp, will be
renamed Maxcom USA.
The company also reported shareholders approved the
authorization of 500,000 shares of common stock to be set aside
for an incentive stock option plan.
|
training/7092
|
training/7092 |@title blockbuster:1 entertainment:1 corp:1 bbec:1 year:1 loss:1 |@word oper:2 shr:1 loss:4 1:1 25:1 dlrs:3 vs:4 44:1 ct:1 net:3 2:1 915:1 000:7 951:1 revs:1 8:1 131:1 119:1 note:1 1985:1 exclude:1 625:1 dlr:1 gain:1 discontinue:1 operation:1 include:1 tax:1 credit:1 860:1 285:1
|
BLOCKBUSTER ENTERTAINMENT CORP <BBEC> YEAR LOSS
Oper shr loss 1.25 dlrs vs loss 44 cts
Oper net loss 2,915,000 vs loss 951,000
Revs 8,131,000 vs 119,000
NOTE: 1985 net excludes 625,000 dlr gain from discontinued
operations.
Net includes tax credits of 860,000 dlrs vs 285,000 dlrs.
|
training/7093
|
training/7093 |@title telecom:1 tele:1 say:1 sale:1 closing:1 delay:1 |@word telecom:1 plus:2 international:1 inc:2 say:2 closing:2 sale:1 65:1 pct:1 interest:1 tel:1 communications:1 siemens:2 ag:1 delay:1 company:1 continue:1 talk:1 base:1 current:1 circumstance:1 believe:1 transaction:1 could:1 close:1 next:1 week:1 schedule:1 march:1 16:1
|
TELECOM <TELE> SAYS SALE CLOSING DELAYED
Telecom Plus International Inc
said the closing of the sale of its 65 pct interest in Tel Plus
Communications Inc to <Siemens AG> has been delayed.
The company said it will be continuing its talks with
Siemens and based on current circumstances believes the
transaction could close next week.
Closing had been scheduled for March 16.
|
training/7096
|
training/7096 |@title home:1 depot:1 inc:1 hd:1 4th:1 qtr:1 feb:1 one:1 net:1 |@word shr:2 27:1 ct:4 vs:6 10:1 net:2 7:3 684:1 000:3 2:1 587:1 rev:1 273:1 9:2 mln:4 203:1 year:1 90:1 33:1 23:1 8:1 219:1 revs:1 1:1 01:1 billion:1 700:1
|
THE HOME DEPOT INC <HD> 4TH QTR FEB ONE NET
Shr 27 cts vs 10 cts
Net 7,684,000 vs 2,587,000
Revs 273.9 mln vs 203.7 mln
Year
Shr 90 cts vs 33 cts
Net 23.9 mln vs 8,219,000
Revs 1.01 billion vs 700.7 mln
|
training/7097
|
training/7097 |@title u:1 energy:1 chief:1 see:1 promise:1 oil:1 tax:1 change:1 |@word energy:2 secretary:1 john:1 herrington:3 say:3 propose:1 option:4 raise:1 oil:6 depletion:3 allowance:3 27:1 5:1 pct:1 probably:1 economically:1 promising:1 way:1 spur:1 domestic:1 production:2 white:2 house:2 would:2 consider:1 although:1 generally:1 oppose:1 revision:1 new:2 tax:1 code:1 tell:1 meeting:1 mid:1 continent:1 gas:1 association:1 high:1 enhance:1 recovery:1 cost:2 taxpayer:2 200:1 mln:1 dlrs:1 year:1 one:2 many:1 contain:1 report:1 national:1 security:1 department:1 send:1 tuesday:1 increase:2 could:1 significantly:1 low:1 american:1 reject:1 import:1 fee:1 far:1 costly:1 overall:1 u:1 economy:1
|
U.S. ENERGY CHIEF SEES PROMISE IN OIL-TAX CHANGE
Energy Secretary John Herrington
said his proposed option to raise the oil depletion allowance
to 27.5 pct was probably the most economically promising way to
spur domestic production.
The White House has said it would consider the option
although it was generally opposed to any revisions in the new
tax code.
Herrington told a meeting of the Mid-Continent Oil and Gas
Association that the higher depletion allowance on new oil and
enhanced oil recovery would cost taxpayers about 200 mln dlrs a
year.
The option was one of many contained in a report on oil and
the national security the Energy Department sent to the White
House on Tuesday.
Herrington said of the increased depletion allowance
option: 'that is one that could significantly increase
production at a very low cost to the American taxpayer.'
He again rejected an oil import fee as far too costly to
the overall U.S. economy.
|
training/7098
|
training/7098 |@title u:2 personal:2 income:2 rise:2 0:2 9:2 pct:4 february:2 spend:2 1:2 7:2 |@word
|
U.S. PERSONAL INCOME ROSE 0.9 PCT IN FEBRUARY, SPENDING UP 1.7 PCT
U.S. PERSONAL INCOME ROSE 0.9 PCT IN FEBRUARY, SPENDING UP 1.7 PCT
|
training/7099
|
training/7099 |@title u:2 personal:1 income:1 rise:1 0:1 9:1 pct:1 february:1 |@word personal:7 income:10 rise:9 0:2 9:3 pct:8 32:1 4:4 billion:19 dlrs:18 february:12 seasonally:1 adjust:1 annual:1 rate:2 3:4 581:1 commerce:2 department:9 say:8 increase:7 follow:2 revised:1 2:6 january:12 earlier:2 estimate:1 unchanged:1 large:1 monthly:1 since:1 1:5 april:1 1986:2 attribute:1 last:4 month:5 several:1 factor:1 include:1 subsidy:2 payment:3 farmer:2 government:2 pay:1 raise:1 consumption:1 expenditure:1 7:4 49:1 855:1 fall:3 58:1 two:1 purchase:2 durable:2 good:1 24:1 8:5 decrease:1 69:1 sale:1 motor:1 vehicle:1 account:1 decline:4 nondurables:1 10:1 300:1 mln:1 dlr:2 wage:1 salary:1 15:1 6:3 manufacturing:1 payroll:1 gain:1 widespread:1 nondurable:1 industry:1 12:1 farm:1 tax:2 nontax:1 5:3 19:1 drop:1 result:1 reform:1 act:1 federal:2 withhold:1 taxis:4 offset:1 nonwithheld:1 low:1 state:1 local:1 disposable:1 37:1 063:1 25:1 saving:1 ease:1 four:1
|
U.S. PERSONAL INCOME ROSE 0.9 PCT IN FEBRUARY
U.S. personal income rose 0.9 pct,
or 32.4 billion dlrs, in February to a seasonally adjusted
annual rate of 3,581.3 billion dlrs, the Commerce Department
said.
The increase followed a revised 0.2 pct rise in personal
income during January. Earlier, the department estimated
January personal income was unchanged.
The February incomes rise was the largest monthly increase
since a 1.2 pct rise in April 1986, the department said. It
attributed last month's rise to several factors, including
subsidy payments to farmers and government pay raises.
The department said personal consumption expenditures were
up during February by 1.7 pct or 49.1 billion dlrs to 2,855.9
billion dlrs after falling by 58.4 billion dlrs or two pct in
January.
Purchases of durable goods were up 24.8 billion dlrs last
month after decreasing by 69.7 billion dlrs in January with
sales of motor vehicles accounting for most of the February
increase and the January decline, the department said.
Purchases of nondurables rose 10.7 billion dlrs in February
after a 300 mln dlr increase in January.
The Commerce Department said wage and salary incomes were
up 15.6 billion dlrs in February after an 8.6 billion dlr rise
in January.
Manufacturing payrolls increased by 2.4 billion dlrs last
month after rising 1.9 billion dlrs in February with the gains
widespread through durable and nondurable industries, the
department said.
Farmers' incomes increased by 12.2 billion dlrs in February
after declining by 8.7 billion dlrs in January. Both last
month's increase and January's fall in farm incomes was because
of government subsidy payments, the department said.
Personal tax and nontax payments fell 5.5 billion dlrs in
February following a 19.5 billion dlrs January drop. The
declines were a result of the Tax Reform Act of 1986.
Federal withheld income taxes were up in February from a
month earlier but that was offset by declines in federal
nonwithheld taxes and lower state and local income taxes.
Disposable personal income in February after taxes was up
1.2 pct or 37.8 billion dlrs to 3,063.4 billion dlrs after
rising 25.8 billion dlrs in January.
The personal savings rate eased to 3.6 pct in February from
four pct in January, the department said.
|
training/71
|
training/71 |@title tultex:1 corp:1 ttx:1 set:1 quarterly:1 dividend:1 |@word qtly:1 div:1 eight:2 ct:2 vs:1 prior:1 pay:1 april:1 one:1 record:1 march:1 13:1
|
TULTEX CORP <TTX> SETS QUARTERLY DIVIDEND
Qtly div eights cts vs eight cts prior
Pay April one
Record March 13
|
training/7100
|
training/7100 |@title u:1 k:1 money:1 market:1 give:1 40:1 mln:1 stg:1 late:1 assistance:1 |@word bank:2 england:1 say:1 provide:1 money:1 market:1 late:1 assistance:1 around:2 40:1 mln:3 stg:3 bring:1 total:1 help:1 today:1 412:1 compare:1 forecast:1 shortage:1 sytem:1 400:1
|
U.K. MONEY MARKET GIVEN 40 MLN STG LATE ASSISTANCE
The bank of England said it provided the
money market with late assistance of around 40 mln stg. This
brings the Bank's total help today to some 412 mln stg and
compares with its forecast of a shortage in the sytem of around
400 mln stg.
|
training/7101
|
training/7101 |@title hog:1 cattle:1 slaughter:1 guesstimate:1 |@word chicago:1 mercantile:1 exchange:1 floor:1 trader:1 commission:1 house:1 representative:1 guesstimate:2 today:1 hog:1 slaughter:2 295:1 000:8 305:1 head:2 versus:2 307:1 week:2 ago:4 311:1 year:2 cattle:1 124:1 128:1 127:1 126:1
|
HOG AND CATTLE SLAUGHTER GUESSTIMATES
Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 295,000 to 305,000 head versus
307,000 week ago and 311,000 a year ago.
Cattle slaughter is guesstimated at about 124,000 to
128,000 head versus 127,000 week ago and 126,000 a year ago.
|
training/7102
|
training/7102 |@title deutsche:1 babcock:1 see:1 high:1 1986:1 87:1 profit:1 |@word deutsche:1 babcock:3 ag:1 dbcg:1 f:1 expect:2 profit:2 rise:3 current:3 financial:2 year:7 end:2 september:2 9:1 although:1 earning:3 level:1 still:3 unsatisfactory:1 manage:1 board:1 chairman:1 helmut:1 wiehn:4 say:5 tell:1 news:1 conference:1 business:2 weaken:1 somewhat:1 generally:1 positive:1 sale:2 first:3 five:4 month:4 february:2 1:2 26:2 billion:8 mark:15 46:1 7:2 pct:4 1985:4 86:4 period:2 however:1 turnover:3 approximately:1 unchanged:3 previous:2 5:3 14:2 order:4 major:1 project:1 book:1 incoming:1 total:2 2:2 50:2 compare:1 04:1 include:1 45:1 8:3 increase:2 domestic:1 57:1 hand:1 16:1 high:1 64:1 add:1 aim:1 three:2 yield:1 1986:1 group:1 39:1 mln:7 32:1 11:1 parent:1 company:2 25:1 6:1 liquidity:1 clearly:1 improve:1 reserve:1 237:1 831:1 408:1 594:1 pre:1 tax:2 per:1 share:3 accord:1 dvfa:1 method:1 95:1 21:1 40:1 10:2 earlier:1 dividend:1 ordinary:1 3:1 preference:1
|
DEUTSCHE BABCOCK SEES HIGHER 1986/87 PROFITS
Deutsche Babcock AG
<DBCG.F> expects profits to rise in the current financial year
ending September 9 although the earnings level is still
unsatisfactory, managing board chairman Helmut Wiehn said.
He told a news conference that business during the year had
weakened somewhat but was still generally positive.
Sales during the first five months to February was 1.26
billion marks, 46.7 pct down from the same 1985/86 period.
However, he expected turnover for the year to be approximately
unchanged from the previous year's 5.14 billion marks when
current orders from major projects are booked.
Wiehn said incoming orders in the first five months to end-
February totalled 2.50 billion marks compared with 2.04 billion
for the same period in 1985/86. They included a 45.8 pct
increase in domestic orders to 1.57 billion marks.
Orders in hand for the five months were 16.7 pct higher at
8.64 billion marks.
Wiehn added that Babcock was still aiming for a three pct
yield on turnover. In the year to September 1986 group profits
totalled 39 mln marks on sales of 5.14 billion against the
previous year's 32 mln on 5.11 billion marks.
Parent company turnover was unchanged at 25.6 mln marks.
Wiehn said Babcock's liquidity had clearly improved in the
current business year, with financial reserves in the first
five months rising by 237 mln marks to 831 mln after increasing
by 408 mln marks to 594 mln in 1985/86.
He said pre-tax earnings per share for 1985/86, according
to the DVFA method, were 26.95 marks from 21.40 marks and
earnings after tax rose to 10 marks from 8.10.
The company earlier said dividend will be unchanged at
three marks for ordinary shares and 3.50 marks for preference
shares.
|
training/7103
|
training/7103 |@title soviet:1 timechartering:1 boost:1 grain:1 freight:1 rate:1 |@word current:3 interest:2 soviet:4 charterer:1 take:2 panamax:3 vessel:3 timecharter:2 mainly:1 u:2 carry:1 grain:3 see:1 chief:1 factor:1 behind:1 recent:2 surge:1 value:2 baltic:2 international:1 freight:3 future:2 exchange:1 biffex:2 dealer:3 say:5 soar:1 1:1 000:3 point:2 barrier:1 today:1 first:1 time:2 spot:2 position:1 since:1 market:5 open:1 may:2 1985:1 however:1 tend:1 nervous:1 100:1 index:1 calculate:1 physical:1 rate:4 specific:1 figure:1 put:1 booking:1 sufficient:1 drain:1 tonnage:1 50:1 65:1 tonne:1 dw:1 gulf:3 would:2 normally:2 operate:1 trip:1 japan:2 appear:2 chernobyl:1 disaster:1 bad:1 effect:1 harvest:1 report:1 one:1 route:1 subsequently:1 main:1 beneficiary:1 chartering:1 condition:1 sized:1 ship:1 leave:1 remainder:1 month:2 rise:2 steadily:1 load:1 next:1 even:1 talk:1 owner:1 consider:1 old:1 lie:1 meet:1 demand:2 sentiment:2 also:1 aid:1 suggestion:1 chinese:1 operator:1 similar:1 business:1 later:1 year:3 anticipate:1 around:1 june:1 prompt:1 keen:1 july:1 contract:1 despite:1 slack:1 shipping:1 fluctuate:1 week:1 turn:1 early:1 bunker:1 price:1 support:1 start:1 falter:1 recover:1 reported:1
|
SOVIET TIMECHARTERING BOOSTS GRAIN FREIGHT RATES
Current interest by Soviet charterers in
taking Panamax vessels on timecharter, mainly from the U.S. To
carry grain, is seen as the chief factor behind the recent
surge in values on the Baltic International Freight Futures
Exchange (BIFFEX), dealers said.
Futures soared through the 1,000 points barrier today for
the first time in the spot position since the market opened in
May 1985. However, the market tends to be nervous, with values
some 100 points above the Baltic Freight Index, which is
calculated on spot physical rates.
No specific figure has been put for Soviet bookings but
they have been sufficient to drain Panamax tonnage (about
50,000 to 65,000 tonnes dw) from the U.S. Gulf which would
normally operate on the trip to Japan, dealers said.
'It appears that the Chernobyl disaster had a worse effect
on its (the Soviet) grain harvest than reported,' one said.
Freight rates on the Gulf/Japan grain route have
subsequently been the main beneficiary of current chartering
conditions, with very few, if any, Panamax sized ships left for
the remainder of this month in the Gulf. Rates have risen
steadily for vessels loading next month.
Dealers said there is even talk that owners are considering
taking older vessels out of lay-up to meet current demand.
Sentiment has also been aided by suggestions that Chinese
operators may be in the market for similar timecharter business
later in the year, they said.
They anticipate this would appear around June and it has
prompted keen demand in the July BIFFEX contract, despite it
normally being a slack time in the shipping year.
Market sentiment has fluctuated in recent weeks. Rates
turned down as an earlier rise in bunker prices, which had
supported the market at the start of the year, faltered but
then recovered on the reported Soviet interest.
|
training/7104
|
training/7104 |@title drought:1 may:1 reduce:1 zimbabwe:1 coffee:1 output:1 grower:1 |@word zimbabwe:3 project:1 coffee:4 output:1 13:1 000:2 tonne:2 1987:1 88:1 could:1 reduce:1 drought:2 grower:1 say:2 main:1 grow:1 area:1 eastern:1 receive:1 little:1 rain:1 since:1 april:1 1986:2 growers:1 association:1 begin:1 survey:1 assess:1 effect:1 spokesman:1 export:1 11:1 mainly:1 west:1 germany:1 britain:1 japan:1 netherlands:1 switzerland:1 united:1 states:1
|
DROUGHT MAY REDUCE ZIMBABWE COFFEE OUTPUT -GROWERS
Zimbabwe's projected coffee output of
13,000 tonnes for 1987/88 could be reduced by drought, growers
said.
The main coffee growing areas in eastern Zimbabwe have
received little rain since April 1986 and the Coffee Growers'
Association has begun a survey to assess the effects of the
drought, a spokesman said.
Zimbabwe exported 11,000 tonnes of coffee in 1986, mainly
to West Germany, Britain, Japan, the Netherlands, Switzerland
and the United States.
|
training/7106
|
training/7106 |@title pillsbury:2 co:2 3rd:2 qtr:2 shr:2 56:2 ct:4 vs:2 63:2 |@word
|
PILLSBURY CO 3RD QTR SHR 56 CTS VS 63 CTS
PILLSBURY CO 3RD QTR SHR 56 CTS VS 63 CTS
|
training/7107
|
training/7107 |@title control:1 resource:1 crix:1 see:1 low:1 earning:1 |@word control:2 resource:1 industries:1 inc:1 say:4 company:4 estimate:4 1986:5 earning:1 800:1 000:6 900:2 dlrs:3 22:1 25:1 ct:2 per:2 share:4 compare:3 852:1 33:1 1985:3 preliminary:2 revenue:2 24:1 5:1 mln:1 7:1 result:3 base:1 3:1 207:1 outstanding:2 2:1 566:1 r:1 steven:1 lutterbach:3 chairman:1 net:2 income:2 adversely:1 affect:1 primarily:2 due:1 low:1 operating:1 margin:1 western:3 environmental:2 subsidiary:1 increase:2 bad:1 debt:1 reserve:1 acquire:1 march:1 explain:1 take:1 step:1 improve:1 financial:1 account:1 adequate:1 time:1 acquisition:1 note:1 final:2 fourth:2 quarter:4 depend:1 allocation:1 cost:1 second:2 possible:1 restate:1 though:1 year:1 remain:1 range:1 add:1 indication:1 first:1 1987:1 favorable:1
|
CONTROL RESOURCE <CRIX> SEES LOWER EARNINGS
Control Resource
Industries Inc said the company estimates 1986 earnings to be
between 800,000 and 900,000 dlrs, or 22 to 25 cts per share,
compared with 852,000 dlrs, or 33 cts per share, during 1985.
The company said preliminary estimates of 1986 revenues is
24.5 mln dlrs, compared with 7,900,000 for 1985.
The estimated 1986 results are based on 3,207,000 shares
outstanding, compared to 2,566,000 shares outstanding for 1985.
R. Steven Lutterbach, chairman, said net income for 1986
was adversely affected primarily due to lower operating margins
at the company's Western Environmental subsidiary, and to an
increase in bad debt reserves.
Western Environmental was acquired in March 1986.
Lutterbach explained the company has taken steps to improve
financial and accounting controls, primarily at Western, which
were not adequate at the time of acquisition.
He noted the final results for the fourth quarter will
depend on the allocation of increased costs between the second
and fourth quarters.
Lutterbach said it is possible second quarter results will
be restated, though final net income for the year will remain
in the estimated range.
He added preliminary indications for first quarter 1987
revenues were favorable.
|
training/7109
|
training/7109 |@title mediq:2 med:1 american:1 medical:1 ami:1 unit:1 buy:1 |@word inc:3 say:2 mediq:3 diagnostic:5 imaging:2 partner:2 lp:1 sign:1 letter:1 intent:1 acquire:1 substantially:1 asset:1 american:1 medical:1 international:1 ami:2 services:1 subsidiary:1 undisclosed:1 term:1 company:1 operate:1 seven:1 magnetic:1 resonance:1 mutli:1 modality:1 centers:1 limited:1 partnership:1 general:1
|
MEDIQ <MED> IN AMERICAN MEDICAL <AMI> UNIT BUY
MEDIQ Inc said its MEDIQ
Diagnostic Imaging Partners - I LP has signed a letter of
intent to acquire substantially all the assets of American
Medical International Inc's AMI Diagnostic Services Inc
subsidiary for undisclosed terms.
The company said AMI Diagnostic operates seven magnetic
resonance and mutli-modality diagnostic imaging centers. MEDIQ
Diagnostic is a limited partnership of which MEDIQ is general
partner.
|
training/7110
|
training/7110 |@title cyclops:1 cyl:1 board:1 restructure:1 include:1 dixon:1 |@word cyclops:1 corp:1 say:2 board:2 restructure:1 term:1 company:3 merger:1 agreement:1 dixons:1 group:1 plc:1 follow:1 british:1 acquisition:1 54:1 pct:1 cyclop:2 stock:1 compose:1 three:2 executive:2 chairman:2 w:1 h:1 knoell:1 president:2 james:1 f:1 senior:1 vice:2 william:1 dickey:1 dixon:1 financial:1 director:2 egon:1 von:1 greyerz:1 corporate:1 finance:1 gerald:1 n:1 corbett:1 secretary:1 jeoffrey:1 budd:1
|
CYCLOPS <CYL>BOARD RESTRUCTURED TO INCLUDE DIXON
Cyclops Corp said its board has
been restructured under the terms of the company's merger
agreement with <Dixons Group plc> following the British
company's acquisition of 54 pct of Cyclops' stock.
The company said its board is now composed of three Cyclops
executives -- Chairman W.H. Knoell, President James F. Will and
Senior Vice President WIlliam D. Dickey -- and three Dixons
executives -- Vice-Chairman and Financial Director Egon von
Greyerz, Corporate Finance Director Gerald M.N. Corbett, and
Secretary Jeoffrey Budd.
|
training/7111
|
training/7111 |@title blockbuster:1 entertainment:1 bbec:1 selling:1 unit:1 |@word blockbuster:2 entertainment:1 corp:2 say:3 sell:1 investment:1 amtech:3 company:4 chairman:1 david:1 cook:2 president:1 kenneth:1 anderson:2 sale:2 take:1 place:1 compatible:1 main:1 line:1 business:1 require:1 substaintial:1 additional:1 funding:1 develop:1 market:1 product:1 expect:1 sustain:1 operating:1 loss:1 forseeable:1 future:1 form:1 new:1 call:1 holdings:1 inc:1
|
BLOCKBUSTER ENTERTAINMENT <BBEC> SELLING UNIT
Blockbuster Entertainment Corp said it
will sell its investment in Amtech Corp to the company
chairman, David Cook, and president, Kenneth Anderson.
The company said the sale is taking place because Amtech is
not compatible with Blockbuster's main line of business, will
require substaintial additional funding to develop and market
its product, and is expected to sustain operating losses for
the forseeable future.
The company said Cook and Anderson will form a new company
with the sale called Amtech Holdings Inc.
|
training/7113
|
training/7113 |@title manor:1 care:1 inc:1 mnr:1 3rd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 24:1 ct:5 vs:8 21:1 net:3 9:4 700:1 000:3 8:3 286:1 revs:2 120:1 6:1 mln:10 115:1 7:1 avg:2 shrs:2 40:2 0:2 39:2 year:2 69:1 68:1 27:2 1:1 374:1 358:1 note:1 1986:1 include:1 charge:1 2:1 396:1 dlrs:1 six:1 share:1 debt:1 redemption:1
|
MANOR CARE INC <MNR> 3RD QTR FEB 28 NET
Shr 24 cts vs 21 cts
Net 9,700,000 vs 8,286,000
Revs 120.6 mln vs 115.7 mln
Avg shrs 40.0 mln vs 39.9 mln
Year
Shr 69 cts vs 68 cts
Net 27.8 mln vs 27.1 mln
Revs 374.9 mln vs 358.8 mln
Avg shrs 40.0 mln vs 39.9 mln
NOTE: 1986 year net includes charge of 2,396,000 dlrs, or
six cts a share, for debt redemption
|
training/7115
|
training/7115 |@title adtec:1 inc:1 jail:1 3rd:1 qtr:1 feb:1 28:1 net:1 |@word oper:4 shr:2 11:3 ct:4 vs:8 net:3 164:1 000:8 161:1 revs:2 2:2 598:1 241:1 nine:1 mth:1 28:1 18:1 419:1 276:1 6:1 983:1 5:1 019:1 note:1 exclude:1 tax:1 loss:1 carryforward:1 876:1 dlrs:4 83:1 045:1 quarter:1 36:1 684:1 144:1 590:1
|
ADTEC INC <JAIL> 3RD QTR FEB 28 NET
Oper shr 11 cts vs 11 cts
Oper net 164,000 vs 161,000
Revs 2,598,000 vs 2,241,000
Nine mths
Oper shr 28 cts vs 18 cts
Oper net 419,000 vs 276,000
Revs 6,983,000 vs 5,019,000
NOTE: Net excludes tax loss carryforwards 11,876 dlrs vs
83,045 dlrs in quarter and 36,684 dlrs vs 144,590 dlrs
|
training/7117
|
training/7117 |@title canada:2 january:2 retail:2 sale:2 fall:2 0:4 1:2 pct:4 december:2 9:2 gain:2 official:2 |@word
|
CANADA JANUARY RETAIL SALES FALL 0.1 PCT AFTER DECEMBER'S 0.9 PCT GAIN - OFFICIAL
CANADA JANUARY RETAIL SALES FALL 0.1 PCT AFTER DECEMBER'S 0.9 PCT GAIN - OFFICIAL
|
training/7119
|
training/7119 |@title accord:1 say:1 sight:1 brazil:1 seamen:1 strike:1 |@word accord:1 sight:1 brazil:2 20:1 day:1 old:1 national:1 seamen:1 strike:3 seriously:1 delay:1 export:1 union:2 official:3 say:4 speak:1 headquarter:1 rio:1 de:2 janeiro:1 30:1 000:2 40:1 seaman:1 still:1 return:1 work:1 last:1 week:1 accept:1 pay:1 offer:2 120:2 pct:2 four:1 private:2 company:2 frota:1 nacional:1 petroleiros:1 fronape:1 part:1 state:1 oil:1 petrobra:1 association:1 group:1 shipowner:1 syndarma:1 also:1 talk:1 far:1 deadlocke:1 payment:1 overtime:1 believe:1 issue:1 would:1 resolve:1 shortly:1
|
ACCORD SAID IN SIGHT IN BRAZIL SEAMEN'S STRIKE
An accord is in sight in Brazil's
20-day-old national seamen's strike, which has seriously
delayed exports, a union official said.
The official, speaking from strike headquarters in Rio de
Janeiro, said up to 30,000 of Brazil's 40,000 seamen were still
on strike.
He said the others had returned to work over the last week,
accepting pay offers of 120 pct from four private companies and
from the Frota Nacional de Petroleiros (Fronape), part of the
state-owned oil company Petrobras.
The association grouping private shipowners, Syndarma, has
also offered 120 pct but talks have so far been deadlocked over
payment for overtime.
The union official said he believed this issue would be
resolved shortly.
|
training/712
|
training/712 |@title north:1 american:1 group:1 namg:1 buy:1 georgia:1 firm:1 |@word north:3 american:3 group:2 ltd:1 acquisition:4 corp:1 say:2 definitive:1 agreement:2 buy:1 100:1 pct:1 pioneer:3 business:2 inc:1 atlanta:1 term:1 disclose:1 closing:1 schedule:1 april:1 subject:1 due:1 diligence:1 satisfactory:1 review:1 operation:1 make:1 form:1
|
NORTH AMERICAN GROUP <NAMG> BUYS GEORGIA FIRM
North American Group Ltd's North
American Acquisition Corp said it has a definitive agreement to
buy 100 pct of Pioneer Business Group Inc of Atlanta.
Terms of the acquisition were not disclosed. Closing of the
acquisition is scheduled for April.
North American Acquisition said the agreement is subject to
due diligence and a satisfactory review of Pioneer's operation.
Pioneer makes business forms.
|
training/7120
|
training/7120 |@title pillsbury:1 co:1 psy:1 3rd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 56:1 ct:4 vs:8 63:1 net:2 48:1 500:1 000:4 55:1 400:1 sale:4 1:4 53:1 billion:4 46:1 avg:2 shrs:2 86:2 6:1 mln:6 87:2 3:2 nine:1 mth:1 73:1 dlrs:4 79:1 150:1 300:1 156:1 200:1 4:2 60:1 30:2 7:2 note:1 1987:2 result:4 include:3 gain:2 9:1 11:1 share:2 asset:2 1986:2 161:1 18:1 offset:1 partly:1 restructuring:1 provision:1 fiscal:1 restate:3 give:1 effect:1 adoption:1 financial:1 accounting:1 standard:1 relate:1 pension:1 cost:1 segment:1 datum:1 food:1 commodity:1 marketing:1 previously:1 report:1 separately:1 earning:1 two:1 one:1 stock:1 split:1 effective:1 nov:1
|
PILLSBURY CO <PSY> 3RD QTR FEB 28 NET
Shr 56 cts vs 63 cts
Net 48,500,000 vs 55,400,000
Sales 1.53 billion vs 1.46 billion
Avg shrs 86.6 mln vs 87.3 mln
Nine mths
Shr 1.73 dlrs vs 1.79 dlrs
Net 150,300,000 vs 156,200,000
Sales 4.60 billion vs 4.30 billion
Avg shrs 86.7 mln vs 87.3 mln
NOTE: 1987 results include gain of 9.7 mln dlrs, or 11 cts
a share from sale of assets
1986 results include gain of 161 mln dlrs, or 18 cts a
share, from sale of assets, offset partly by a restructuring
provision
Fiscal 1987 results restated to give effect to adoption of
financial accounting standards relating to pension costs.
Segment data for Foods restated to include results of commodity
marketing, previously reported separately. Earnings restated
for two-for-one stock split, effective Nov 30, 1986
|
training/7123
|
training/7123 |@title jim:2 walter:2 corp:2 2nd:2 qtr:2 shr:2 86:2 ct:4 vs:2 62:2 |@word
|
JIM WALTER CORP 2ND QTR SHR 86 CTS VS 62 CTS
JIM WALTER CORP 2ND QTR SHR 86 CTS VS 62 CTS
|
training/7124
|
training/7124 |@title colombia:1 attend:1 managua:1 coffee:1 meeting:1 |@word colombia:3 attend:1 meeting:4 coffee:5 produce:2 country:2 schedule:1 weekend:1 nicaragua:1 jorge:1 cadenas:1 manager:1 national:1 growers:1 federation:1 say:2 prefer:1 wait:1 thing:1 better:1 prepared:1 tell:1 reuters:2 add:1 could:2 postpone:1 brazil:1 central:1 american:1 invite:1 managua:1 analyze:1 market:1 situation:1 however:1 dismiss:1 idea:1 dialogue:1 negotiation:1 preparation:1 international:2 organization:2 gilberto:1 arango:1 president:1 exporters:1 association:1 speak:1 earlier:1 week:1 rule:1 fresh:1 colombian:1 initiative:1 export:1 quota:1 producer:1 show:1 common:1 resolve:1 emerge:1 continuous:1 contact:1 executive:1 board:1 meet:1 london:1 march:1 31:1 april:1 2:1
|
COLOMBIA WILL NOT ATTEND MANAGUA COFFEE MEETING
Colombia will not attend a meeting of
coffee producing countries scheduled for this weekend in
Nicaragua, Jorge Cadenas, manager of the National Coffee
Growers' Federation, said.
'We prefer to wait until things are better prepared,' he told
Reuters. He added the meeting could be postponed.
Colombia, Brazil and the Central American coffee producing
countries were invited to the meeting in Managua to analyze the
market situation
However, he did not dismiss the idea of dialogue and
negotiation in preparation for meetings of the International
Coffee Organization.
Gilberto Arango, president of Colombia's exporters'
association, speaking to Reuters earlier this week, ruled out a
fresh Colombian initiative on export quotas saying producers
had now to show a common resolve which could emerge from
continuous contacts.
The International Coffee Organization executive board is to
meet in London between March 31 and April 2.
|
training/7126
|
training/7126 |@title soviet:1 firm:1 say:1 talk:1 philippine:1 mine:1 |@word preliminary:1 talk:2 two:3 state:2 philippine:3 bank:6 soviet:4 metal:1 trading:1 equipment:1 sale:1 company:3 tsvetmetpromexport:2 rescue:1 nonoc:1 mining:2 industrial:2 corp:2 nmic:11 operate:3 philippines:3 nickel:3 refinery:1 official:2 say:12 g:1 valentchit:3 deputy:1 trade:1 minister:1 embassy:1 tell:1 reuters:1 report:1 earlier:1 week:1 ask:2 government:2 whether:1 could:1 help:2 rehabilitate:1 incorrect:1 way:1 round:1 development:1 dbp:3 national:1 pnb:3 approach:1 firm:6 august:2 last:1 year:1 study:1 question:1 field:1 area:1 project:1 reply:1 yet:1 initial:1 president:1 arthur:1 aguilar:1 available:1 comment:1 manila:1 banking:1 source:1 situation:1 serious:1 set:1 1984:1 foreclose:1 asset:2 marinduque:1 17:1 billion:4 peso:4 obligation:1 banker:2 recently:1 file:1 securities:1 exchange:1 commission:1 sec:1 place:1 receivership:1 suspension:1 debt:2 payment:2 order:1 protect:1 threat:1 foreclosure:2 business:2 day:1 newspaper:3 late:1 credit:1 extend:1 include:1 127:1 mln:3 dlr:2 loan:2 chemical:1 lead:2 agent:1 another:1 33:1 manage:1 citicorp:1 privatisation:1 program:1 list:1 price:1 least:2 700:1 dlrs:1 add:1 foreign:1 investor:1 wary:1 take:1 ail:1 currently:1 burden:1 15:1 8:1 face:1 10:1 civil:1 lawsuit:1 major:1 creditor:1 bulletin:1 total:1 12:1 2:3 exposure:1 estimate:1 14:1 9:1 plant:1 southern:1 since:1 march:1 1986:2 worker:1 strike:1 demand:1 salary:1 delay:1 financial:1 difficulty:1 produce:1 1:1 863:1 tonne:3 first:1 month:2 compare:1 364:1 period:1 1985:1 mine:1 capacity:1 000:1
|
SOVIET FIRM SAYS TALKS ON FOR PHILIPPINE MINE
Preliminary talks are on between two
state-owned Philippine banks and Soviet metal trading and
equipment sales company Tsvetmetpromexport on rescuing Nonoc
Mining and Industrial Corp (NMIC) which operates the
Philippines' only nickel refinery, a Soviet official said.
G.I. Valentchits, Deputy Trade Minister at the Soviet
embassy, told Reuters a report earlier this week that
Tsvetmetpromexport had asked the Philippine government whether
it could help rehabilitate or operate NMIC was incorrect.
'It is the other way round,' Valentchits said.
He said the Development Bank of the Philippines (DBP) and
the Philippine National Bank (PNB), which own NMIC, had
approached the Soviet state-owned firm in August last year.
'We studied the question and asked the banks in which field
and what area they can help in the project,' Valentchits said.
He said there had been no reply yet from NMIC and the talks
were 'only just initial.'
NMIC President Arthur Aguilar and other company officials
were not available for comment.
Manila banking sources said the situation was serious at
NMIC, set up by DBP and PNB in August 1984 after the two banks
foreclosed on the assets of Marinduque Mining and Industrial
Corp over a 17 billion peso obligation.
The bankers said NMIC itself has recently filed with the
Securities and Exchange Commission (SEC) for placing the
company under receivership and the suspension of its debt
payments in order to protect it from threats of foreclosure.
Business Day newspaper said the latest credits extended to
NMIC include a 127 mln dlr loan, with Chemical Bank as the lead
agent.
The newspaper said another 33 mln dlr loan was lead managed
by Citicorp.
It said the government's privatisation program has listed
NMIC at a price of at least 700 mln dlrs, adding that foreign
investors were wary of taking over the ailing nickel firm.
The bankers said NMIC was currently burdened with debts of
at least 15.8 billion pesos and is facing 10 civil lawsuits for
foreclosures from major creditors.
The Business Bulletin newspaper said the firm had assets
totalling 12.2 billion pesos, while DBP and PNB exposures with
the firm were estimated at 14.9 billion pesos.
NMIC has not operated its plant in the southern Philippines
since March 1986 after workers struck demanding payment of
salaries delayed because of the firm's financial difficulties.
The firm produced 1,863 tonnes of nickel in the first two
months of 1986, compared with 2,364 tonnes in the same period
in 1985. The mine's capacity is 2,000 tonnes a month.
|
training/7128
|
training/7128 |@title jim:1 walter:1 corp:1 jwc:1 2nd:1 qtr:1 feb:1 28:1 net:1 |@word shr:4 86:2 ct:7 vs:10 62:1 dilute:3 59:1 net:4 28:2 0:4 mln:11 18:1 3:1 revs:2 513:1 5:1 517:1 first:1 half:1 2:2 03:2 dlrs:7 1:5 78:1 61:1 65:1 9:1 50:1 11:1 billion:2 08:1 avg:2 shrs:2 32:3 4:4 note:1 1987:2 include:2 gain:2 645:1 000:2 two:1 share:3 quarter:1 12:2 290:1 four:1 reduce:1 pension:1 expense:1 new:1 accounting:1 procedure:1 period:1 also:1 sale:1 land:1 alabama:1
|
JIM WALTER CORP <JWC> 2ND QTR FEB 28 NET
Shr 86 cts vs 62 cts
Shr diluted 86 cts vs 59 cts
Net 28.0 mln vs 18.3 mln
Revs 513.5 mln vs 517.0 mln
First half
Shr 2.03 dlrs vs 1.78 dlrs
Shr diluted 2.03 dlrs vs 1.61 dlrs
Net 65.9 mln vs 50.0 mln
Revs 1.11 billion vs 1.08 billion
Avg shrs 32.4 mln vs 28.1 mln
Avg shrs diluted 32.4 mln vs 32.4 mln
NOTE: 1987 net includes gains of 645,000 dlrs, or two cts a
share, in quarter and 12,290,000 dlrs, or four cts a share,
from reduced pension expense under new accounting procedures
Net in both 1987 periods also includes gain of 4.0 mln
dlrs, or 12 cts a share, from sale of land in Alabama.
|
training/7129
|
training/7129 |@title canada:1 retail:1 sale:1 fall:1 0:1 1:1 pct:1 january:1 |@word canada:2 retail:2 sale:8 seasonally:1 adjust:1 fall:3 0:2 1:2 pct:8 january:3 gain:2 9:5 december:2 statistics:1 say:1 11:2 98:1 billion:2 dlrs:2 99:1 1986:2 unadjusted:1 6:1 high:1 automobile:1 department:1 store:3 slip:1 3:1 2:1 variety:1 plunge:1 14:1 decline:1 offset:1 5:2 increase:1 grocery:1 hardware:1
|
CANADA RETAIL SALES FALL 0.1 PCT IN JANUARY
Canada's retail sales, seasonally
adjusted, fell 0.1 pct in January after gaining 0.9 pct in
December, Statistics Canada said.
Retail sales fell to 11.98 billion dlrs from 11.99 billion
dlrs in December, 1986. Unadjusted sales were 6.9 pct higher
than in January, 1986.
In January, automobile sales fell 1.9 pct, department store
sales slipped 3.2 pct and variety stores sales plunged 14 pct.
The declines were offset by a 5.5 pct increase in grocery store
sales and a 9.9 pct gain in hardware sales.
|
training/7130
|
training/7130 |@title scan:1 graphic:1 merge:1 public:1 company:1 |@word scan:7 graphics:2 inc:3 say:1 acquire:1 captive:3 venture:5 capital:5 public:2 company:2 stock:6 transaction:1 approve:1 shareholder:3 result:1 merger:1 former:1 graphic:6 become:1 majority:1 name:2 corporation:1 change:1 borad:1 director:1 compose:1 individual:1 board:1 term:1 deal:2 capitive:2 issue:2 1:3 6:1 mln:2 share:6 restricted:1 convertible:2 prefer:1 16:1 common:3 exchange:1 outstanding:2 upon:1 complete:1 2:1 649:1 500:2 149:1 hold:1 addition:1 95:1 050:1 tradeable:1 class:1 warrant:2 100:1 000:1 b:1 entitle:1 holder:1 buy:1 10:1 25:1 dlrs:2 50:1 respectively:1 make:1 system:1 allow:1 user:1 convert:1 document:1 chart:1 map:1 engineering:1 drawing:1 computer:2 datum:1 display:1 edit:1 store:1 currently:1 trade:2 counter:1 soon:2 application:1 nasdaq:1 listing:1 expect:1 requirement:1 meet:1
|
SCAN-GRAPHICS TO MERGE WITH PUBLIC COMPANY
Scan-Graphics Inc said it will be
acquired by Captive Venture Capital Inc, a public company,
in a stock transaction approved by shareholders of both
companies.
As a result of the merger, the former shareholders of
Scan-Graphics will become the majority shareholders of Captive
Venture Capital. The name of the corporation will be changed to
Scan-Graphics Inc and its borad of directors will be composed
of individuals now on the Scan-Graphics board.
Under the terms of the deal, Capitive Venture Capital will
issue 1.6 mln shares of restricted convertible preferred stock,
convertible into 16 mln shares of common stock, in exchange for
all outstanding stock of Scan-Graphics.
Upon completing the deal, there will be 2,649,500 common
shares of Capitive Venture Capital issued and outstanding, of
which 149,500 shares will be held by the public.
In addition, there are 95,050 tradeable class A warrants
and 100,000 B warrants, each of which entitles the holder to
buy 10 shares of common stock at 1.25 dlrs and 1.50 dlrs,
respectively, a share.
Scan-Graphics makes systems that allow users to convert
graphic documents, such as charts, maps and engineering
drawings, into computer data that can be displayed, edited and
stored by computer.
Currently, Captive Venture Capital stock is traded over the
counter and will soon trade under the Scan-Graphics name.
Application for Nasdaq listing is expected as soon as
requirements are met.
|
training/7132
|
training/7132 |@title wisconsin:1 power:1 light:1 co:1 wpl:1 vote:1 payout:1 |@word qtly:1 div:1 76:2 ct:2 vs:1 prior:1 qtr:1 pay:1 15:1 may:1 record:1 30:1 april:1
|
WISCONSIN POWER AND LIGHT CO <WPL>VOTES PAYOUT
Qtly div 76 cts vs 76 cts prior qtr
Pay 15 May
Record 30 April
|
training/7133
|
training/7133 |@title goodmark:1 foods:1 inc:1 gdmk:1 2nd:1 qtr:1 feb:1 22:1 net:1 |@word shr:2 19:1 ct:4 vs:7 18:1 net:2 835:1 000:4 794:1 sale:2 23:1 9:1 mln:4 20:1 5:2 nine:1 mth:1 47:1 91:1 2:2 104:1 3:2 489:1 74:1 65:1 avg:1 shrs:1 4:1 450:1 675:1 822:1 894:1
|
GOODMARK FOODS INC <GDMK> 2ND QTR FEB 22 NET
Shr 19 cts vs 18 cts
Net 835,000 vs 794,000
Sales 23.9 mln vs 20.5 mln
Nine mths
Shr 47 cts vs 91 cts
Net 2,104,000 vs 3,489,000
Sales 74.5 mln vs 65.2 mln
Avg shrs 4,450,675 vs 3,822,894
|
training/7135
|
training/7135 |@title economic:1 spotlight:1 u:1 deficit:1 |@word nic:8 u:25 trade:18 deficit:4 taiwan:18 korea:19 expect:5 widen:1 year:8 despite:1 economic:3 currency:8 adjustment:1 two:3 newly:2 industrialize:2 country:6 economist:4 say:18 surplus:8 run:2 1986:4 get:2 big:3 time:1 next:1 scream:1 export:8 steve:1 cerier:1 manufacturers:1 hanover:1 trust:2 co:2 currently:1 third:1 exporter:2 japan:5 canada:1 seventh:1 large:2 face:1 heightened:1 protectionist:1 sentiment:1 congress:1 reagan:1 administration:2 step:2 rhetoric:1 urge:1 allow:1 appreciate:1 lift:1 impediment:1 free:2 thrust:1 shift:1 amid:1 sign:1 dollar:4 steep:1 drop:1 ec:1 nation:4 previously:1 main:2 focus:1 drive:1 cut:5 gap:4 begin:1 close:1 competiveness:1 american:1 good:5 treasury:1 secretary:1 james:1 baker:1 recently:1 reduction:1 manufacturer:1 still:3 lose:2 market:2 doorstep:1 whose:1 rise:5 much:3 yen:1 mark:1 major:3 beneficiary:1 soft:1 oil:1 price:1 low:1 labor:1 cost:1 taiwanese:1 korean:3 well:1 place:1 take:3 slack:1 fashionable:1 comment:1 washington:1 bash:1 bashing:1 robert:1 chandross:1 lloyds:1 bank:1 plc:1 asia:1 four:1 hong:2 kong:2 south:5 singapore:2 account:2 almost:2 one:2 fifth:1 overall:2 170:1 billion:11 dlr:2 merchandise:1 15:3 7:2 dlrs:5 13:1 1:4 1985:3 bilateral:2 grow:2 4:2 8:2 preliminary:1 datum:1 show:1 growth:1 trend:1 continue:1 shortfall:1 6:2 january:2 24:2 pct:8 earlier:1 700:2 mln:1 ago:1 lately:1 defuse:1 incipient:1 tension:1 choose:1 many:1 122:1 item:1 want:1 import:2 tariff:2 order:1 deflect:1 pressure:1 revaluation:1 minister:2 rha:1 woong:1 bae:1 last:3 week:1 would:1 maintain:1 three:1 five:2 way:1 44:1 5:4 foreign:1 debt:1 part:1 sometime:1 second:1 half:1 1987:4 try:1 diversify:1 vice:1 wang:1 chien:1 shien:1 month:1 fall:1 make:1 deep:1 inroad:1 textile:1 electronic:1 raise:1 profile:1 area:1 ticket:1 manufacture:2 notably:1 cars:1 auto:1 mostly:1 north:1 america:1 balloon:1 675:1 000:1 unit:2 zero:1 hit:1 heart:1 manufacturing:1 base:1 directly:1 customer:1 bob:1 wendt:2 manager:1 study:3 bethlehem:2 steel:2 corp:2 90:1 computer:1 product:1 72:1 electrical:1 appliance:1 65:1 telecommunications:1 equipment:1 recent:1 morgan:3 guaranty:1 pressing:1 issue:1 offset:1 less:1 extent:1 stand:1 marked:1 contrast:1 move:1 rapidly:1 overrall:1 current:1 18:1 2:1 increase:1 3:1 concern:1 confine:1 lot:1 expense:1 richard:1 koss:1 general:1 motors:1 february:1 paris:1 meeting:1 six:1 industrial:1 power:1 exorte:1 lower:1 barrier:1 revalue:1 pronged:1 approach:1 draw:1 little:2 response:1 far:3 case:1 work:1 sizeable:1 lag:1 think:1 climb:1 peg:1 since:1 september:1 real:1 term:1 flat:1 seven:1 see:2 lessening:1 competition:1 attribute:1 change:1 plea:1 use:1 hefty:1 earning:1 effect:1 moreover:1 uncertain:1 protectionism:1 give:1 stance:1 hard:1 anything:1 pass:1 end:1 question:1 tooth:1
|
ECONOMIC SPOTLIGHT - U.S. DEFICIT WITH NICs
The U.S. trade deficit with Taiwan and
Korea is expected to widen this year, despite some economic and
currency adjustments by the two newly industrialized countries,
economists said.
'The surpluses that Taiwan and Korea ran with the U.S. in
1986 will get bigger. This time next year, the U.S. will be
screaming at those countries about their exports,' said Steve
Cerier of Manufacturers Hanover Trust Co.
Taiwan is currently the third biggest exporter to the U.S.
after Japan and Canada, while Korea is the seventh largest.
Faced with heightened protectionist sentiment in Congress,
the Reagan administration has been stepping up the rhetoric
against Taiwan and Korea, urging those countries to allow their
currencies to appreciate and lift impediments to free trade.
The thrust has shifted to those newly industrialized
countries (NICs) amid signs the dollar's steep drop against the
currencies of Japan and most EC nations -- previously the main
focus of the U.S. drive to cut its trade gap -- is beginning to
close the competiveness gap for American goods.
U.S. Treasury secretary James Baker said recently that he
expects a reduction in Japan's trade surplus this year.
But U.S. manufacturers still are losing markets on their
own doorstep to Taiwan and Korea, whose currencies have not
risen as much as the yen and the mark. As major beneficiaries
of soft oil prices and with low labor costs, Taiwanese and
Korean exporters are well-placed to take up the slack.
'In 1986, the fashionable comment in Washington was
Japan-bashing. Now it's NIC-bashing,' said Robert Chandross, of
Lloyds Bank PLC.
Asia's four main NICs -- Hong Kong, South Korea, Singapore
and Taiwan -- accounted for almost one-fifth of the overall 170
billion dlr U.S. merchandise trade deficit for 1986.
The U.S. trade gap with Taiwan rose to 15.7 billion dlrs in
1986 from 13.1 billion in 1985, while the bilateral trade
deficit with South Korea grew to 7.1 billion from 4.8 billion.
And preliminary U.S. data show that the growth trend is
continuing. The U.S. trade shortfall with Taiwan was 1.6
billion dlrs in January, up 24.4 pct from a year earlier. The
gap with Korea was 700 mln dlrs, up 24.8 pct from a year ago.
Lately both nations have said they will take steps to
defuse incipient trade tensions. Korea said it is choosing many
of the 122 items on which the U.S. wants it to cut import
tariffs in order to deflect pressure for currency revaluation.
Still, South Korean trade minister Rha Woong Bae said last
week that Korea would maintain a trade surplus for three to
five years as a way to cut its 44.5 billion dlr foreign debt.
For its part, Taiwan said in January that it will cut
tariffs on 1,700 goods sometime in the second half of 1987 and
try to diversify exports. But vice economic minister Wang
Chien-Shien said last month that he still does not expect
Taiwan's trade surplus with the U.S. will fall in 1987.
The NICs have made deep inroads into markets for textiles
and electronic goods. But Korea is raising its profile in the
area of 'big-ticket' manufactured goods, notably cars.
Korea expects its auto exports -- mostly for North America
-- to balloon to 675,000 units in 1987 from zero in 1985.
'The NICs' exports are almost all manufactured goods. When
their exports rise it hits the heart of the U.S. manufacturing
base. It cuts directly to us and to our customers,' said Bob
Wendt, manager for economic studies at Bethlehem Steel Corp.
The U.S. takes 90 pct of Korea's computer products exports,
72 pct of its electrical appliances and 65 pct of its
telecommunications equipment.
A recent study by Morgan Guaranty Trust Co says Taiwan and
South Korea are the most pressing trade issue for the U.S.
While Hong Kong and Singapore run trade surpluses with the
U.S., these are offset by their deficits with other countries.
But Taiwan and, to a lesser extent, South Korea, stand in
marked contrast. Both of these nations have moved rapidly into
large bilateral surplus with the U.S. and major overrall trade
and current account surpluses, the Morgan study says.
Morgan expects Taiwan's overall trade surplus to grow to
18.5 billion dlrs in 1987 from 15.2 billion last year, and
Korea's to increase to 6.5 billion dlrs from 3.5 billion.
Concern about the NICs is not confined to the U.S.
'A lot of Korea and Taiwan's exports to the U.S. have been
at Japan's expense,' said Richard Koss at General Motors Corp.
February's Paris meeting of six major industrial powers
exorted NICs to lower trade barriers and revalue currencies.
But this two-pronged approach has drawn little response
from the two nations so far and, in any case, will only work
with a sizeable lag, economists say.
The U.S. has not said how much it thinks the Taiwan's and
Korea's currencies should climb. The Taiwan dollar, which is
pegged to the U.S. dollar, has risen about 15 pct since
September 1985 while the Korean won has risen about five pct.
But in real terms the Taiwan dollar has been flat against
the U.S. unit and the won has lost seven pct, economists say.
'We've not seen any lessening of competition from those
countries that we can attribute to currency changes,' said
Bethlehem Steel's Wendt.
And so far, U.S. pleas for Taiwan and Korea to use their
hefty export earnings to import more have had little effect.
Moreover, it is uncertain how far U.S. protectionism will
get given the administration's free-trade stance. 'It's hard to
see that anything will be passed much before year-end. And then
the question is, will it have teeth?' one economist said.
|
training/7136
|
training/7136 |@title rank:1 xerox:1 xrx:1 sell:1 south:1 african:1 unit:1 |@word xerox:5 corp:1 u:1 k:1 unit:3 rank:4 ltd:2 say:3 agree:1 principle:1 sell:2 south:5 african:2 company:2 africa:3 pty:1 altron:2 group:1 fintech:3 term:1 deal:2 disclose:1 acquisition:1 key:1 make:1 office:1 system:1 copier:1 duplicator:1 throughout:1 namibia:1 west:1 800:1 employee:1 retain:1 close:1
|
RANK XEROX <XRX> TO SELL SOUTH AFRICAN UNIT
Xerox Corp's U.K. unit, Rank Xerox
Ltd, said it agreed in principle to sell its South African
company, Rank Xerox South Africa Pty Ltd, to <Altron Group's>
Fintech unit.
Terms of the deal were not disclosed.
Altron said the acquisition was key to making Fintech an
office systems company.
The South African Rank Xerox unit sells copiers and
duplicators throughout South Africa and in Namibia (South West
Africa). It has over 800 employees, all of whom will be
retained by Fintech when the deal closes, Rank Xerox said.
|
training/7139
|
training/7139 |@title countrywide:1 credit:1 industries:1 inc:1 ccr:1 4th:1 qtr:1 |@word feb:1 28:1 end:1 shr:4 44:1 ct:6 vs:9 16:2 dilute:2 37:1 net:2 5:3 378:1 000:3 1:4 987:1 revs:2 26:2 8:1 mln:7 14:1 6:1 avg:1 shrs:1 12:2 4:2 dlrs:2 45:2 10:1 15:1 401:1 80:1 3:1 46:1 note:1 share:1 adjust:1 stock:1 dividend:1 declare:1 today:1
|
COUNTRYWIDE CREDIT INDUSTRIES INC <CCR> 4TH QTR
Feb 28 end
Shr 44 cts vs 16 cts
Shr diluted 37 cts vs 16 cts
Net 5,378,000 vs 1,987,000
Revs 26.8 mln vs 14.6 mln
Avg shrs 12.4 mln vs 12.1 mln
Shr 1.26 dlrs vs 45 cts
Shr diluted 1.10 dlrs vs 45 cts
Net 15.5 mln vs 5,401,000
Revs 80.3 mln vs 46.4 mln
NOTE: Share adjusted for stock dividends declared through
today.
|
training/714
|
training/714 |@title talk:1 point:1 viacom:1 international:1 via:1 |@word bid:2 war:2 viacom:10 international:1 inc:4 one:7 large:2 u:1 entertainment:1 company:7 pit:1 management:9 group:2 investor:2 national:2 amusements:1 closely:1 hold:1 theater:1 operator:1 side:3 raise:2 weekend:1 source:3 close:1 insist:1 timing:2 say:11 outside:1 director:2 approve:1 proposal:5 merger:2 plan:6 could:3 put:1 vote:1 shareholder:1 proxy:1 material:1 go:1 late:1 week:2 would:7 take:1 20:2 day:3 mail:1 predict:1 amusement:1 control:2 sumner:1 redstone:11 need:1 half:1 year:2 complete:1 tender:2 offer:7 regulatory:1 approval:1 must:1 accompany:1 change:1 broadcast:1 license:1 cable:2 television:5 franchise:1 available:1 comment:1 wall:3 street:3 arbitrage:1 player:1 rare:1 situation:1 enjoy:1 true:1 bidding:2 begin:1 whenever:1 want:2 enough:1 people:1 convince:1 superior:1 chance:1 win:1 independent:1 call:2 meeting:1 today:1 word:1 decision:1 expect:1 early:1 tomorrow:1 share:11 climb:1 2:4 1:5 50:7 3:3 8:4 midafternoon:1 major:1 firm:2 issue:2 sell:1 recommendation:1 think:1 end:1 term:1 arbitrageur:4 speak:1 condition:1 identify:1 create:2 restructure:2 heavily:1 leveraged:2 debt:2 result:2 balance:1 sheet:1 5:1 billion:1 dlrs:15 nearly:1 500:1 mln:4 prefer:2 stock:7 convertible:2 45:1 pct:6 common:2 new:3 holder:1 42:1 cash:3 fraction:1 exchangeable:2 preferred:2 value:1 7:2 fifth:1 arsenal:2 holding:1 represent:1 equity:4 interest:4 calculate:1 worth:5 make:1 total:2 package:1 52:1 per:3 38:1 fractional:1 portion:2 4:3 00:1 51:1 amount:1 pay:2 every:1 beyond:1 april:1 30:2 consummate:1 int:1 annual:1 rate:1 nine:3 may:1 12:2 thereafter:1 previously:1 eight:1 lead:1 president:1 chief:1 executive:1 terrence:1 elke:1 high:1 price:1 really:1 another:2 seem:1 edge:1 19:1 6:1 ov:1 35:2 analyst:2 hard:1 determine:1 newly:1 leverage:1 note:2 example:1 fmc:2 corp:1 adopt:1 highly:1 structure:1 last:2 inititally:1 trade:1 dip:1 report:1 fourth:1 quarter:1 earning:1 fall:1 two:2 ct:2 23:1 cost:1 several:1 acquisition:1 affect:1 warner:3 communications:1 wci:1 rise:2 31:1 warrant:1 purchase:1 25:2 37:1 chris:1 craft:1 industries:1 ccn:1 stake:1 22:1 1970:1 spin:1 cbs:2 940:1 000:1 subscriber:1 operate:1 satellite:1 service:1 radio:1 station:1 distributor:1 film:1 program:1
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TALKING POINT/VIACOM INTERNATIONAL <VIA>
A bidding war for Viacom International
Inc, one of the largest U.S. entertainment companies, pitted a
management group and other investors against National
Amusements Inc, a closely held theater operator.
Both sides raised their bids over the weekend. A source
close to the management side insisted that timing was on his
side. He said if outside directors approve the management
proposal, a merger plan could be put to a vote of shareholders
with proxy material going out late this week. 'It would take 20
days from the day we mail,' said the source.
The source predicted National Amusements, controlled by
investor Sumner Redstone, would need 'half a year' to complete
a tender offer because of the regulatory approvals that must
accompany any change in control of Viacom's broadcast licenses
and cable television franchises.
Redstone was not available for comment.
Some of Wall Street's arbitrage players said it was a rare
situation that could only be enjoyed - a true bidding war. One
said Redstone could begin a tender offer whenever he wanted and
if enough people were convinced his proposal was superior to
the Viacom management plan, he would have a chance to win.
The independent directors of Viacom were called into a
meeting today. Word on a decision was expected early tomorrow.
Viacom shares climbed 2-1/2 to 50-3/8 by midafternoon. One
major Wall Street firm issued a sell recommendation. 'We think
we're at the end now, in terms of bidding,' said the firm's
arbitrageur, who spoke on condition he not be identified.
Both Redstone's proposal and the management proposal would
create a restructured company heavily leveraged with debt. The
management plan would result in a balance sheet with about 2.5
billion dlrs in debt and nearly 500 mln dlrs in preferred
stock, convertible into 45 pct of the common stock.
Redstone's newest proposal offers holders 42 dlrs in cash,
a fraction of a share of exchangeable preferred stock with a
value of 7.50 dlrs, and one-fifth of a share of common stock
stock of Arsenal Holdings, representing 20 pct of the equity
interest in the restructured Viacom. One arbitrageur calculated
the equity in the Redstone plan was worth 2.50 dlrs making the
total package worth 52 dlrs per share.
Management offered 38.50 dlrs in cash, exchangeable
preferred stock worth 8.50 dlrs and a fractional share of
convertible preferred. The arbitrageur said the equity portion
was worth about 4.00 dlrs for a total of 51 dlrs.
Redstone's newest plan raised the amount of interest he
would pay on the cash portion of his offer for every day beyond
April 30 that a merger with Arsenal is not consummated. The
plan calls for intest to be paid at an annual rate of nine pct
during May and 12 pct thereafter. Previously Redstone offered
eight pct interest.
Other arbitrageurs said both Redstone and the management
group, led by president and chief executive Terrence Elkes,
were offering high prices. 'Redstone really wants to own the
company,' one said. Another said management seemed to have the
edge on the timing issue.
Redstone's company owns 19.6 pct ov Viacom's 35 mln shares.
A Wall Street analyst said it was hard to determine what
the equity in the newly leveraged company would be worth. He
noted as an example that new stock in FMC Corp <FMC>, which
adopted a highly leveraged structure last year, inititally
traded at 12.50 dlrs per share, dipped to nine dlrs, and is now
just over 30 dlrs.
Last week, Viacom reported fourth quarter earnings fell two
two cts per share from 23 cts. The company said interest costs
from several acquisitions affected results.
Shares of Warner Communications Inc <WCI> rose 7/8 to
31-1/8. Analysts noted Warner owns warrants to purchase 3.25
mln Viacom shares at 35 dlrs and another 1.25 mln shares at
37.50 dlrs.
Chris Craft Industries <CCN>, which owns a stake in Warner,
rose 1-1/4 to 22-3/4.
Viacom was created in 1970 and spun off from CBS Inc <CBS>.
The company has 940,000 cable television subscribers, operates
nine satellite television services and owns television and
radio stations. It is one of the largest distributors of films
and other programs for television.
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training/7141
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training/7141 |@title countrywide:1 credit:1 ccr:1 set:1 high:1 dividend:1 |@word countrywide:1 credit:1 industries:1 inc:1 say:1 board:1 declare:1 eight:1 ct:2 per:1 share:1 quarterly:1 dividend:4 seven:1 last:1 quarter:1 two:1 pct:1 stock:2 cash:1 payable:2 april:2 14:1 holder:2 record:2 march:2 30:1 17:1 31:1
|
COUNTRYWIDE CREDIT <CCR> SETS HIGHER DIVIDEND
Countrywide Credit Industries
Inc said its board declared an eight ct per share quarterly
dividend, up from seven cts last quarter, and a two pct stock
dividend.
The cash dividend is payable April 14 to holders of record
March 30 and the stock dividend is payable April 17 to holders
of record March 31.
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training/7143
|
training/7143 |@title madagascar:1 coffee:1 production:1 see:1 low:1 1987:1 |@word madagascar:4 available:1 coffee:6 output:1 estimate:2 80:1 725:1 tonne:6 year:6 82:1 210:1 1986:2 due:3 rundown:1 government:3 agricultural:1 service:1 poor:2 state:1 feeder:1 road:1 rural:1 area:1 agriculture:1 ministry:1 source:6 say:5 account:1 loss:1 15:1 000:5 20:2 transport:1 problem:2 countryside:1 give:1 export:4 1987:1 note:1 shipment:1 decline:2 37:1 200:1 last:2 41:1 662:1 1985:1 low:2 yield:2 country:1 age:1 plantation:1 prevalence:1 fungal:1 disease:1 hemileia:1 vastatrix:1 also:1 contribute:1 performance:1 point:1 52:1 pct:1 bush:1 plant:2 1930:1 still:1 long:1 way:1 reach:1 production:2 target:2 110:1 per:2 63:1 outline:1 1990:1 five:1 plan:2 order:1 reverse:1 decide:1 hectare:2 high:1 arabica:1 canephora:1 varietie:1 planting:1 programme:1 begin:1 aim:1 produce:1 300:1 360:1 kilo:1 bean:1 caffeine:1 content:1 add:1 roast:2 fail:1 take:1 packaging:1 650:1
|
MADAGASCAR COFFEE PRODUCTION SEEN LOWER IN 1987
Madagascar's available coffee
output is estimated at 80,725 tonnes this year, down from
82,210 in 1986, due to a rundown of government agricultural
services and the poor state of feeder roads in rural areas,
Agriculture Ministry sources said.
This is after accounting for the loss of some 15,000 to
20,000 tonnes due to the transport problems in the countryside,
they said.
The sources did not give an estimate for exports in 1987,
but they noted that shipments declined to 37,200 tonnes last
year from 41,662 in 1985.
Low yields from the country's ageing coffee plantations and
prevalence of the fungal disease Hemileia Vastatrix also
contributed to the poor performance, the sources said.
They pointed out that 52 pct of Madagascar's coffee bushes
were planted before 1930.
The sources said Madagascar was still a long way from
reaching the production target of 110,000 tonnes per year and
the export target of 63,000 tonnes outlined in the government's
1986-1990 five-year plan.
In order to reverse the decline in coffee production, the
government has decided to plant 20,000 hectares with
high-yielding arabica and canephora varieties, the sources
said.
The planting programme will begin this year and is aimed at
producing 300 to 360 kilos per hectare of beans with a low
caffeine content.
The sources added that Madagascar's plan to export roasted
coffee has failed to take off due to packaging problems. Only
650 tonnes of roasted coffee were exported last year.
|
training/7146
|
training/7146 |@title excel:1 industries:1 inc:1 exc:1 boost:1 dividend:1 |@word qtly:1 div:1 nine:1 ct:2 vs:1 eight:1 prior:1 qtr:1 pay:1 20:1 april:2 record:1 3:1
|
EXCEL INDUSTRIES INC <EXC> BOOSTS DIVIDEND
Qtly div nine cts vs eight cts prior qtr
Pay 20 April
Record 3 April
|
training/7148
|
training/7148 |@title baker:1 fentress:1 co:1 bkfr:1 vote:1 dividend:1 |@word qtly:1 div:1 25:2 ct:2 vs:1 prior:1 qtr:1 payable:1 10:1 june:1 record:1 15:1 may:1
|
BAKER, FENTRESS AND CO <BKFR> VOTES DIVIDEND
Qtly div 25 cts vs 25 cts prior qtr
Payable 10 June
Record 15 May
|
training/7149
|
training/7149 |@title amcast:1 acst:1 complete:1 sale:1 newman:1 division:1 |@word amcast:3 industrial:1 corp:1 say:4 complete:1 sale:2 newman:4 division:2 manufacturing:1 inc:1 new:1 company:1 form:1 employee:1 price:1 disclose:1 kendallville:1 indiana:1 plant:2 one:1 country:1 large:1 producer:1 gray:2 iron:2 casting:2 automotive:1 commercial:1 air:1 conditioning:1 refrigeration:1 industry:1 employ:1 300:1 people:1 decide:1 sell:1 move:1 business:1
|
AMCAST <ACST> COMPLETES SALE OF NEWMAN DIVISION
Amcast Industrial Corp said it
completed the sale of its Newman Division to Newman
Manufacturing Inc, a new company formed by Newman's employees.
The sale price was not disclosed.
Amcast said Newman's Kendallville, Indiana plant is one of
the country's largest producers of gray iron castings for the
automotive and commercial air conditioning and refrigeration
industries. It said the plant employs 300 people.
Amcast said it decided to sell the division to move out of
the gray iron castings business.
|
training/715
|
training/715 |@title right:1 inc:1 upri:1 4th:1 qtr:1 oper:1 net:1 |@word oper:5 shr:5 five:3 ct:7 vs:6 29:1 net:2 151:1 000:8 867:1 revs:2 12:1 7:2 mln:4 14:2 1:3 year:2 87:1 52:1 2:1 650:1 565:1 54:1 49:1 note:1 data:1 include:2 4th:2 qtr:2 1986:2 extraordinary:3 credit:2 dlrs:4 1985:2 loss:1 139:1 per:3 92:1 three:1 161:1
|
UP-RIGHT INC <UPRI> 4TH QTR OPER NET
Oper shr five cts vs 29 cts
Oper net 151,000 vs 867,000
Revs 12.7 mln vs 14.1 mln
Year
Oper shr 87 cts vs 52 cts
Oper net 2,650,000 vs 1,565,000
Revs 54.7 mln vs 49.1 mln
Note: oper data does not include 4th qtr 1986 extraordinary
credit of 14,000 dlrs or 4th qtr 1985 extraordinary loss of
139,000 dlrs, or five cts per shr. For year, does not include
extraordinary credit of 92,000 dlrs, or three cts per shr, in
1986 and 161,000 dlrs, or five cts per shr, in 1985.
|
training/7150
|
training/7150 |@title u:1 energy:1 secretary:1 rule:1 gasoline:1 tax:1 |@word energy:1 secretary:1 john:1 herrington:4 say:6 would:9 rule:3 tax:3 gasoline:2 one:1 option:1 help:1 avert:1 departmet:1 call:1 threat:1 increase:5 reliance:1 foreign:1 oil:4 come:1 year:3 news:1 conference:1 recommendation:1 make:1 domestic:2 production:4 cause:2 widespread:2 economic:1 hardship:1 minimal:1 cost:2 u:1 taxpayer:1 ground:1 also:1 repeat:1 import:1 fee:1 dislocation:1 loss:1 400:1 000:1 job:1 nationwide:1 due:1 high:1 price:1 drop:1 gross:1 national:2 product:1 32:1 billion:1 dlrs:2 depletion:2 allowance:2 27:1 5:1 pct:1 new:1 enhanced:1 natural:1 gas:1 cheap:1 way:1 spur:1 estimate:1 200:1 mln:1 propose:1 white:5 house:5 tuesday:1 reaction:3 cool:2 study:1 proposal:1 generally:1 opppose:1 alter:1 code:1 pass:1 last:1 ask:1
|
U.S. ENERGY SECRETARY RULES OUT GASOLINE TAX
Energy Secretary John Herrington
said he would rule out a tax on gasoline as one option to help
avert what his departmet has called the threat of increased
reliance on foreign oil in the coming years.
He said at a news conference that any recommendation he
would make would have to increase domestic production, not
cause widespread economic hardship and have a minimal cost to
the U.S. taxpayer.
On the grounds of increasing production, he said, 'I would
rule out a gasoline tax.'
Herrington also repeated he would rule out an oil import
fee because of the widespread dislocation it would cause -- the
loss of about 400,000 jobs nationwide due to higher oil prices
and a drop in the gross national product by about 32 billion
dlrs.
He said an increased depletion allowance, to 27.5 pct, on
new and enhanced production of oil and natural gas would be a
cheap way to spur domestic production.
He estimated this cost at about 200 mln dlrs a year.
Herrington proposed the increased depletion allowance to
the White House Tuesday but the White House reaction was cool.
The White House said it would study the proposal, but was
generally oppposed to altering the national tax code, just
passed last year.
Herrington, asked his reaction to the White House reaction,
said, 'If I were the White House, I would be cool, too.'
|
training/7152
|
training/7152 |@title u:2 energy:2 chief:2 rule:2 gasoline:2 tax:2 way:2 avert:2 pende:2 oil:2 crisis:2 |@word
|
U.S. ENERGY CHIEF RULES OUT GASOLINE TAX AS WAY TO AVERT PENDING OIL CRISIS
U.S. ENERGY CHIEF RULES OUT GASOLINE TAX AS WAY TO AVERT PENDING OIL CRISIS
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training/7154
|
training/7154 |@title usda:1 ask:1 tight:1 insect:1 rule:1 grain:1 shipment:1 |@word u:1 agriculture:1 department:2 propose:1 tight:1 federal:1 standard:2 set:3 allowable:1 limit:3 insect:8 infestation:2 grain:4 shipment:2 change:1 would:3 include:1 following:1 establish:2 equal:2 tolerance:1 number:1 live:4 food:1 feed:1 oilseed:1 revise:3 definition:3 infest:2 give:1 value:1 injurious:1 low:1 level:3 1988:1 three:1 per:4 representative:2 sample:5 100:2 gram:2 1990:1 two:1 1992:1 final:1 infestattion:1 one:1 grade:2 add:2 10:1 dead:1 wheat:2 32:1 damage:1 kernel:1 ask:1 public:1 comment:1 proposal:1 april:1 17:1
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USDA ASKS TIGHT INSECT RULES FOR GRAIN SHIPMENTS
The U.S. Agriculture Department is
proposing tighter federal standards setting allowable limits on
insect infestations in grain shipments.
The changes in the standards would include the following:
-- Establishing equal tolerances for the number of live
insects in shipments of food grains, feed grains and oilseeds.
-- Revising the definition of 'infested' to give equal value
to all insects injurious to grain.
-- Establishing lower levels of infestations. In 1988, the
infested level would be set at three or more live insects per
representative sample (about 100 grams), in 1990 two or more
insects, and in 1992 the final infestattion level would be set
at one or more live insects per representative sample.
-- Revising the definition of sample grade by adding a
limit of 10 live or dead insects per sample.
-- Revising the definition of sample grade for wheat by
adding a limit of 32 insect-damaged kernels per 100 grams of
wheat.
The department asked for public comments on the proposals
by April 17.
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training/7155
|
training/7155 |@title pillsbury:1 psy:1 hurt:1 restaurant:1 operation:1 |@word pillsbury:6 corp:1 report:4 low:3 earning:3 third:1 quarter:7 end:1 february:1 28:1 say:9 strong:1 performance:1 food:3 group:2 offset:1 restaurant:2 decline:1 exclude:2 unusual:2 item:2 operating:2 profit:7 12:1 pct:5 year:3 ago:3 sale:3 rise:3 four:1 burger:2 king:2 usa:1 bennigan:1 high:1 fall:1 sharply:1 steak:1 ale:1 introduce:1 new:1 menu:1 also:1 distron:1 distribution:1 arm:1 increase:1 investment:2 spending:1 develop:1 concept:1 quikwok:1 bay:1 street:1 key:1 west:1 grill:1 hurt:1 result:3 operate:1 10:2 international:1 operation:1 domestic:1 bread:1 bake:1 product:1 major:2 contributor:1 improvement:2 turnaround:1 grain:1 merchandising:1 factor:1 nine:4 month:3 corporate:2 expense:2 show:1 4:2 3:1 mln:4 dlr:2 reflect:1 5:4 gain:1 joint:1 interest:1 australian:1 company:1 largely:1 early:2 retirement:1 program:1 initiate:1 fourth:1 48:2 dlrs:4 56:1 ct:4 share:3 55:1 63:1 advance:1 1:3 53:1 billion:2 46:1 loss:1 tax:3 credit:1 1986:1 federal:1 reform:1 act:2 reduce:1 per:1 19:1 effective:1 income:1 rate:1 eight:1 point:2 percentage:1 49:1 7:1
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PILLSBURY <PSY> HURT BY RESTAURANT OPERATIONS
Pillsbury Corp, reporting lower
earnings for the third quarter ended February 28, said a strong
performance by its Foods Group was offset by Restaurants Group
declines.
Excluding unusual items, it said restaurants operating
profit was down in the quarter 12 pct from a year ago as sales
rose four pct.
It said Burger King USA and Bennigan's reported higher
operating profit, but profits fell sharply at Steak and Ale,
which introduced a new menu.
Pillsbury also reported lower profits at Distron, Burger
King's distribution arm, and said increased investment spending
on developing concepts - QuikWok, Bay Street and Key West Grill
- hurt results.
It said Foods operating profit, excluding unusual items,
rose 10 pct with international operations and domestic breads
and baking products major contributors to improvement in the
quarter.
A turnaround in grain merchandising was a major factor in
profit improvement for the nine months, Pillsbury said.
Pillsbury said corporate expense showed a 4.3 mln dlr
profit in the quarter reflecting a 10.5 mln dlr gain on the
sale of a joint interest in an Australian food company and
lower corporate expenses, largely as a result of an early
retirement program initiated a year ago.
Earlier, Pillsbury reported fourth quarter earnings of 48.5
mln dlrs, or 56 cts a share, down from 55.4 mln dlrs, or 63 cts
a share a year ago. Sales advanced to 1.53 billion dlrs from
1.46 billion dlrs.
Pillsbury said loss of investment tax credits under the
1986 Federal Tax Reform Act reduced per-share earnings by nine
cts in the quarter and 19 cts in the nine months.
As a result of the act, it said its effective income tax
rate rose eight points to 48.1 pct in the quarter and 5.5
percentage points to 49.7 pct for the nine months.
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training/7157
|
training/7157 |@title agency:1 rent:1 car:1 inc:1 agnc:1 4th:1 qtr:1 jan:1 31:1 net:1 |@word shr:2 26:1 ct:4 vs:6 21:1 net:2 5:1 553:1 000:2 4:1 307:1 revs:2 45:1 1:2 mln:6 34:1 2:2 year:1 86:1 67:1 18:1 14:1 0:1 161:1 118:1 3:1 note:1 share:1 adjust:1 stock:1 dividend:1
|
AGENCY RENT-A-CAR INC <AGNC> 4TH QTR JAN 31 NET
Shr 26 cts vs 21 cts
Net 5,553,000 vs 4,307,000
Revs 45.1 mln vs 34.2 mln
Year
Shr 86 cts vs 67 cts
Net 18.2 mln vs 14.0 mln
Revs 161.1 mln vs 118.3 mln
NOTE: Share adjusted for stock dividends.
|
training/7158
|
training/7158 |@title agency:1 rent:1 car:1 agnc:1 set:1 stock:1 dividend:1 |@word agency:1 rent:1 car:1 inc:1 say:2 board:1 declare:1 five:1 pct:2 stock:1 dividend:1 payable:1 may:2 22:1 holder:1 record:1 8:1 company:1 also:1 plan:1 increase:1 size:1 rental:2 fleet:1 year:1 end:1 january:1 31:1 20:1 25:1 expand:1 office:1 network:1
|
AGENCY RENT-A-CAR <AGNC> SETS STOCK DIVIDEND
Agency Rent-A-Car Inc said its board
declared a five pct stock dividend, payable May 22 to holders
of record on May 8.
The company also said it plans to increase the size of its
rental fleet in the year ending January 31 by 20 to 25 pct and
expand its rental office network.
|
training/7159
|
training/7159 |@title fed:1 expect:1 take:1 money:1 market:1 action:1 |@word federal:2 reserve:3 expect:1 refrain:1 management:1 intervention:1 u:1 government:1 security:1 market:1 economist:1 say:2 fed:1 act:1 however:1 would:1 likely:1 add:1 temporary:1 indirectly:1 arrange:1 around:1 1:1 5:2 billion:1 dlrs:1 customer:1 repurchase:1 agreement:1 fund:1 average:1 97:1 pct:2 yesterday:1 open:1 six:1 remain:1 early:1 trading:1
|
FED EXPECTED TO TAKE NO MONEY MARKET ACTION
The Federal Reserve is expected to
refrain from reserve-management intervention in the U.S.
Government securities market, economists said.
If the Fed does act, however, they said it would be likely
to add temporary reserves indirectly by arranging around 1.5
billion dlrs of customer repurchase agreements.
Federal funds, which averaged 5.97 pct yesterday, opened at
six pct and remained there in early trading.
|
training/7160
|
training/7160 |@title ascs:1 seek:1 offer:1 process:1 ccc:1 rough:1 rice:1 |@word agricultural:1 stabilization:1 conservation:1 service:1 ascs:2 seek:1 offer:2 process:1 rough:1 rice:2 commodity:1 credit:1 corporation:1 ccc:1 deliver:1 27:1 0:1 mln:1 pound:1 mill:1 export:1 shipment:1 may:2 6:1 20:1 21:1 june:1 5:1 spokesman:1 say:1 must:1 receive:1 1300:1 cdt:1 april:2 7:1 successful:1 offeror:1 notify:1 10:1
|
ASCS SEEKS OFFERS TO PROCESS CCC ROUGH RICE
The Agricultural Stabilization and
Conservation Service (ASCS) is seeking offers to process rough
rice owned by the Commodity Credit Corporation (CCC) and
deliver about 27.0 mln pounds of milled rice for export
shipment May 6-20 and May 21-June 5, an ASCS spokesman said.
Offers must be received by 1300 CDT April 7, and successful
offerors will be notified April 10.
|
training/7161
|
training/7161 |@title ec:1 minister:1 agree:1 need:1 big:1 steel:1 closure:1 |@word european:1 community:2 ec:7 industry:6 minister:9 today:3 declare:2 need:1 massive:2 round:1 closure:6 steel:4 plant:4 bring:1 capacity:3 12:1 country:2 bloc:1 reasonable:1 balance:1 demand:1 meet:1 discuss:1 plan:5 voluntary:1 draw:1 lobby:1 group:1 eurofer:5 calculate:1 would:2 cost:2 around:1 22:1 000:1 job:1 diplomat:3 say:11 initial:1 reaction:1 scheme:1 useful:1 basis:1 discussion:2 go:1 nearly:1 far:1 enough:1 identify:1 scope:3 annual:2 15:1 26:1 mln:2 tonne:2 provide:1 company:3 concern:1 fully:1 repay:1 national:1 government:1 redundancy:1 social:1 executive:1 commission:2 source:3 commissioner:1 karl:1 heinz:1 narjes:2 tell:1 30:1 excess:1 requirement:1 close:2 end:1 1990:1 particular:1 fail:1 pinpoint:1 heavy:1 hot:2 roll:2 wide:2 strip:2 product:2 typically:1 produce:1 employ:1 thousand:1 people:1 challenge:1 analysis:1 four:1 five:1 line:1 agree:2 expand:1 develop:1 meeting:2 among:1 body:1 representative:1 member:3 state:4 however:1 clear:2 difficult:1 split:1 whether:1 reduce:1 quota:1 production:1 system:1 present:1 protect:1 steelmaker:1 full:1 force:1 competition:1 65:1 pct:1 talk:2 proceed:1 also:1 tough:1 bear:1 brunt:1 much:1 funding:1 help:1 throw:1 work:1 come:1 coffer:1 german:2 martin:1 bangemann:1 large:1 suffer:1 proportionately:1 british:2 giles:1 shaw:1 insist:1 profitability:1 take:1 account:1 corporation:1 benefit:1 recent:1 write:1 accumulate:1 debt:1 currently:1 one:1 black:1 afternoon:1 try:1 joint:1 statement:1 situation:1
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EC MINISTERS AGREE NEED FOR BIG STEEL CLOSURES
European Community (EC) industry
ministers today declared there is a need for a massive round of
closures of steel plants to bring capacity in the 12-country
bloc into reasonable balance with demand.
The ministers were meeting to discuss a plan for voluntary
plant closures drawn up by the industry lobby group Eurofer
which it calculates would cost around 22,000 jobs.
Diplomats said that in their initial reactions to the
scheme, most ministers declared it was a useful basis for
discussion, but did not go nearly far enough.
Eurofer says it has identified scope for the closure of
plants which have an annual capacity of 15.26 mln tonnes,
provided the companies concerned can be fully repaid by the EC
or national governments for redundancy and other social costs.
But EC Executive Commission sources said Industry
Commissioner Karl-Heinz Narjes told ministers today that 30 mln
tonnes of annual capacity was excess to requirements and should
be closed by the end of 1990.
He said the Eurofer plan in particular fails to pinpoint
the scope for closure in heavy hot-rolled wide-strip products,
typically produced in plants employing thousands of people.
The sources said no minister challenged Narjes' analysis
that four or five hot-rolled wide-strip lines would have to
close.
They said ministers agreed that the Eurofer plan should be
expanded and developed through meetings among the industry
body, the Commission and representatives of member states.
However, diplomats said it was clear from today's
discussions that such meetings will be difficult.
They said member states are split on whether to reduce the
scope of a quota production system, which at present protects
EC steelmakers from the full force of competition for 65 pct of
their products, while talks on the closure plan proceed.
It was also clear that there will be tough talks on which
EC member states should bear the brunt of the closures and on
how much funding for help to those thrown out of work should
come from Community coffers.
German minister Martin Bangemann said his country's steel
industry, the largest in the EC, should not suffer
proportionately more than others, German sources said.
But British diplomats said their minister, Giles Shaw,
insists that the profitability of companies should be taken
into account.
The state owned British Steel Corporation, benefitting from
massive recent write-offs of its accumulated debts, is
currently one of the few EC steel companies in the black.
Ministers were this afternoon trying to agree a joint
statement on the Eurofer plan and the situation in the
industry.
|
training/7166
|
training/7166 |@title murgold:1 resources:1 mgdvf:1 detail:1 assay:1 |@word murgold:1 resources:1 inc:1 say:2 assay:2 receive:1 320:2 foot:4 drift:2 number:1 three:1 vein:1 chester:1 township:1 property:1 south:1 timmins:1 ontario:1 indicate:1 average:2 0:2 528:1 ounce:2 gold:2 per:2 ton:2 across:2 width:1 five:1 length:1 last:1 working:1 face:1 422:1 8:1 5:1 continue:1 eastward:1 point:1 company:1
|
MURGOLD RESOURCES <MGDVF> DETAILS ASSAYS
Murgold Resources Inc said assays
received from 320 feet of drifting on the number-three vein at
the Chester Township property south of Timmins, Ontario,
indicate an average of 0.528 ounce of gold per ton across an
average width of five feet for the 320-foot length.
The last working face assayed 0.422 ounce of gold per ton
across 8.5 feet and the drift will be continued eastward from
that point, the company said.
|
training/7167
|
training/7167 |@title corrected:1 federal:1 paper:1 board:1 co:1 fbo:1 payout:1 |@word qtly:1 div:1 17:2 5:2 ct:2 vs:1 prior:1 qtr:1 payable:1 april:1 15:1 record:1 march:2 31:1 company:1 correct:1 amount:1 previous:1 payment:1 18:1 item:1 show:1 change:1
|
(CORRECTED) - FEDERAL PAPER BOARD CO <FBO> PAYOUT
Qtly div 17.5 cts vs 17.5 cts in prior qtr
Payable April 15
Record March 31
(Company corrects amount of previous payment in MARCH 18
item to show there was no change)
|
training/7168
|
training/7168 |@title alcoa:1 aa:1 sell:1 american:1 powder:1 metal:1 |@word aluminum:1 co:2 america:1 say:1 sign:1 letter:1 intent:1 sell:1 american:2 powder:1 metal:2 subsidiary:1 r:1 w:1 technology:1 inc:1 undisclosed:1 term:1 completion:1 expect:1 early:1 may:1 powdered:1 make:1 part:1 various:1 industry:1
|
ALCOA <AA> TO SELL AMERICAN POWDERED METALS
Aluminum Co of America said it has
signed a letter of intent to sell its American Powdered Metals
Co subsidiary to R.W. Technology Inc for undisclosed terms,
with completion expected in early May.
American Powdered makes metal parts for various industries.
|
training/7174
|
training/7174 |@title britoil:1 see:1 low:1 u:1 k:1 exploration:1 expenditure:1 |@word britoil:4 plc:1 btol:1 l:1 exploration:3 expenditure:5 u:3 k:2 1987:1 likely:1 third:1 level:3 1986:6 though:1 overseas:2 would:5 remain:2 approximately:1 chief:1 executive:1 david:1 walker:3 say:2 tell:1 reporter:1 follow:1 release:1 company:3 figure:3 project:2 also:2 rise:2 208:1 mln:12 stg:3 184:1 drop:3 87:1 156:1 fall:1 28:1 58:1 1985:3 early:1 post:1 pretax:1 profit:1 134:1 759:1 extraordinary:1 charge:1 50:1 asset:2 result:1 slightly:1 well:2 analyst:1 forecast:1 share:1 firm:1 231p:1 222p:1 last:1 night:1 close:1 chairman:1 sir:1 philip:1 shelbourne:1 collapse:1 oil:4 price:4 make:2 period:1 extremely:1 difficult:1 come:1 remarkably:1 provide:1 recovery:1 maintain:1 condition:1 right:1 substantially:1 improve:1 performance:1 year:2 add:2 firmness:1 march:1 normally:1 weak:1 bit:1 encouraged:1 prospect:1 future:1 feel:1 confident:1 stay:1 within:1 band:1 15:1 dlrs:2 20:1 barrel:3 receive:1 100:1 response:1 announcement:1 desire:1 sell:1 ask:1 bid:1 latter:1 part:1 april:1 end:1 reserve:4 603:1 compare:1 503:1 previously:2 however:1 note:1 include:1 revise:1 definition:1 restate:1 along:1 line:1 show:1 720:1 gas:1 ease:1 3:2 568:1 billion:2 cubic:1 foot:1 restated:1 660:1
|
BRITOIL SEES LOWER U.K. EXPLORATION EXPENDITURE
Britoil Plc's <BTOL.L> exploration
expenditure for the U.K. In 1987 was likely to be only about a
third of the level in 1986, though overseas expenditure would
remain approximately the same, Chief executive David Walker
said.
He told reporters following the release of the company's
1986 figures that project expenditure would also remain at 1986
levels.
U.K. Project expenditure in 1986 rose to 208 mln stg from
184 mln while exploration expenditure dropped to 87 mln from
156 mln. Overseas exploration fell to 28 mln from 58 mln in
1985.
Earlier, Britoil posted a drop in pretax profit for 1986 to
134 mln stg from 759 mln in 1985, before an extraordinary
charge of 50 mln stg on the company's U.S. Assets. The results
were slightly better than analysts forecast and the share
firmed to 231p from 222p at last night's close. Chairman Sir
Philip Shelbourne said the collapse in the oil price in 1986
had made the period extremely difficult but the company had
come through remarkably well.
Provided the recovery in oil prices was maintained, the
conditions would be right for a substantially improved
performance this year.
He added that the firmness of oil prices in March, when
they were normally weaker, made him 'a bit encouraged' about the
prospects for future levels.
Walker added that Britoil would feel confident if the price
stayed within a band of 15 dlrs to 20 dlrs a barrel.
Britoil had received some 100 responses to its announcement
of a desire to sell the assets and was asking for bids by the
latter part of April.
End-year reserves rose to 603 mln barrels of oil compared
with 503 mln previously. However, Walker noted that this
included a revised definition of reserves.
If 1985 figures were restated along the same lines, the
reserve figure would show a drop from 720 mln barrels
previously.
Gas reserves also eased to 3,568 billion cubic feet from a
restated 3,660 billion.
|
training/7177
|
training/7177 |@title u:1 k:1 revise:1 retail:1 price:1 index:1 february:1 |@word u:1 k:1 government:2 tomorrow:1 release:1 first:1 retail:1 price:1 index:2 rpi:2 figure:2 calculate:1 revise:2 group:1 component:2 rebase:1 january:2 1987:2 previously:2 announce:1 employment:1 department:1 say:2 britain:1 measure:1 inflation:2 february:2 early:1 datum:1 equivalent:1 include:1 new:1 spokesman:1 base:1 1974:1 market:1 forecast:2 centre:1 0:4 4:3 5:1 pct:3 monthly:1 rise:1 year:2 rate:1 annual:1 end:1
|
U.K. REVISES RETAIL PRICE INDEX FROM FEBRUARY
The U.K. Government tomorrow will
release the first of its Retail Price Index (RPI) figures
calculated on a revised group of components and rebased on
January 1987, as previously announced, the Employment
Department said.
The index, Britain's measure of inflation, is for February.
Earlier data will not be revised as there are no equivalent
figures including the new components, a spokesman said.
Previously, the RPI base was January, 1974.
Market forecasts centre on a 0.4-0.5 pct monthly rise in
February and a year on year rate about 4.0 pct. The government
forecasts annual inflation will be 4.0 pct at the end of 1987.
|
training/718
|
training/718 |@title talk:1 show:1 new:1 canadian:1 confidence:1 group:1 say:1 |@word canada:3 decision:1 raise:2 issue:3 free:2 trade:7 pact:1 u:9 sign:1 many:1 see:1 new:1 spirit:1 canadian:8 self:1 confidence:1 public:1 policy:1 study:3 group:1 say:8 suggest:1 immediate:1 post:1 war:1 period:1 major:2 player:1 process:1 build:1 postwar:1 world:4 washington:1 base:1 atlantic:1 council:5 negotiator:1 open:1 talk:3 last:1 summer:1 aim:1 dismantle:1 barrier:1 two:2 country:3 big:2 partner:1 crossborder:1 shipment:2 150:1 billion:1 dlrs:1 annually:1 deadline:1 october:1 agreement:1 relation:1 liberalized:1 would:1 improve:1 competitiveness:1 economy:1 market:2 lessen:1 irritant:1 mar:1 tie:1 past:1 shy:1 away:1 notion:1 arrangement:1 fear:1 overwhelm:1 economically:1 politically:1 close:1 association:1 10:1 time:2 size:1 population:1 add:1 realize:1 domestic:1 small:1 permit:1 mass:1 production:1 sale:1 need:1 productivity:1 level:1 demand:1 increasingly:1 competitive:1 chiefly:1 interested:1 minimize:1 imposing:1 duty:2 allegedly:1 subsidize:2 export:2 recent:1 example:1 15:1 per:1 cent:1 impose:1 lumber:1 ground:1 chief:1 concern:1 include:1 end:1 curb:1 banking:1 insurance:1 telecommunication:1 call:1 cultural:1 industries:1 publish:1 broadcasting:1 film:1 defense:1 cooperation:1 acid:1 rain:1 rejection:1 assertion:1 sovereignty:1 water:1 northwest:1 passage:1
|
TALKS SHOW NEW CANADIAN CONFIDENCE, GROUP SAYS
Canada's decision to raise the issue
of a free trade pact with the U.S. was a sign of what many see
as a new spirit of Canadian self-confidence, a public policy
study group said
'It suggests the Canada of the immediate post-war period,
when it was a major player in the process of building a postwar
world,' the Washington-based Atlantic Council said.
U.S. and Canadian negotiators opened talks last summer
aimed at dismantling trade barriers between the two countries,
the world's biggest trading partners with crossborder shipments
of about 150 billion dlrs annually.
The council's study said the trade talks, with a deadline
of October for an agreement, are the biggest issue in
U.S.-Canadian relations.
The study said liberalized trade between the two countries
would improve the competitiveness of their economies in world
markets and lessen trade irritants which now mar their ties.
The council said 'in the past most Canadians have shied away
from the notion of a free-trade arrangement, fearing to be
overwhelmed economically and politically by a closer
association with a country 10 times their size in population.'
But at the same time, it added, Canadians realized their
domestic market was too small to permit the mass production and
sales needed to raise productivity to the level demanded by an
increasingly competitive world.
The council said that in the talks, Canada is chiefly
interested in minimizing the imposing of U.S. duties against
allegedly subsidized exports.
A recent example was the 15 per cent duty the U.S. imposed
on Canadian lumber exports on grounds the shipments were being
subsidized.
The council said the chief U.S. concerns included ending
curbs against U.S. banking, insurance, telecommunications, and
the so-called 'cultural industries' - publishing, broadcasting
and films.
It said other major U.S.-Canadian issues were defense
cooperation, 'acid rain' and the U.S. rejection of a Canadian
assertion of sovereignty over waters of the Northwest Passage.
|
training/7184
|
training/7184 |@title sand:1 technology:1 systems:1 sndcf:1 2nd:1 qtr:1 net:1 |@word end:1 january:1 31:1 shr:2 nil:2 vs:8 net:2 profit:1 351:1 000:10 loss:5 243:1 sale:2 7:2 050:1 012:1 avg:2 shrs:2 106:2 780:1 93:1 666:1 six:1 mth:1 one:2 ct:2 999:1 563:1 10:1 6:1 mln:2 13:1 0:1 641:1 92:1 986:1
|
SAND TECHNOLOGY SYSTEMS <SNDCF> 2ND QTR NET
ended January 31
Shr nil vs nil
Net profit 351,000 vs loss 243,000
Sales 7,050,000 vs 7,012,000
Avg shrs 106,780,000 vs 93,666,000
Six mths
Shr loss one ct vs loss one ct
Net loss 999,000 vs loss 563,000
Sales 10.6 mln vs 13.0 mln
Avg shrs 106,641,000 vs 92,986,000
|
training/7185
|
training/7185 |@title ryan:2 family:1 steak:1 house:1 set:1 split:1 |@word ryan:1 family:1 steak:1 houses:1 inc:1 say:2 board:1 declare:1 three:1 one:1 stock:1 split:2 payable:1 may:2 20:2 holder:1 record:1 6:1 company:1 subject:1 shareholder:1 approval:1 increase:1 authorized:1 share:1 100:1 mln:2 april:1 22:1 annual:1 meeting:1
|
RYAN'S FAMILY STEAK HOUSE <RYAN> SETS SPLIT
Ryan's Family Steak Houses Inc
said its board declared a three-for-one stock split, payable
May 20 to holders of record May 6.
The company said the split is subject to shareholder
approval of an increase in authorized shares to 100 mln from 20
mln at the April 22 annual meeting.
|
training/7188
|
training/7188 |@title |@word french:2 official:2 reserve:2 388:2 68:2 billion:4 franc:2 end:4 feb:2 vs:2 375:2 95:2 jan:2
|
French official reserves 388.68 billion francs at end Feb vs 375.95 billion end Jan
French official reserves 388.68 billion francs at end Feb vs 375.95 billion end Jan
|
training/7189
|
training/7189 |@title inertia:1 dynamic:1 trim:1 pay:1 stock:1 dividend:1 |@word inertia:1 dynamics:1 corp:1 say:1 declare:1 50:1 pct:1 stock:1 dividend:1 payable:1 may:1 1:1 shareholder:1 record:1 april:1 3:1
|
INERTIA DYNAMICS <TRIM> TO PAY STOCK DIVIDEND
Inertia Dynamics Corp said it
declared a 50 pct stock dividend, payable May 1 to shareholders
of record April 3.
|
training/7190
|
training/7190 |@title csp:1 inc:1 cspi:1 2nd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 one:1 ct:4 vs:6 21:1 net:2 24:1 000:8 612:1 sale:2 2:1 061:1 3:1 914:1 1st:1 half:1 eight:1 43:1 223:1 1:1 220:1 4:1 584:1 7:1 912:1
|
CSP INC <CSPI> 2ND QTR FEB 28 NET
Shr one ct vs 21 cts
Net 24,000 vs 612,000
Sales 2,061,000 vs 3,914,000
1st half
Shr eight cts vs 43 cts
Net 223,000 vs 1,220,000
Sales 4,584,000 vs 7,912,000
|
training/7191
|
training/7191 |@title publishers:1 equipment:1 corp:1 pecn:1 year:1 net:1 |@word shr:1 profit:2 eight:1 ct:2 vs:4 loss:2 23:1 net:1 251:1 000:2 731:1 revs:1 29:1 1:1 mln:4 25:1 9:2 backlog:1 18:1 12:1 5:1
|
PUBLISHERS EQUIPMENT CORP <PECN> YEAR NET
Shr profit eight cts vs loss 23 cts
Net profit 251,000 vs loss 731,000
Revs 29.1 mln vs 25.9 mln
Backlog 18.9 mln vs 12.5 mln
|
training/7192
|
training/7192 |@title cavalier:1 homes:1 inc:1 cavh:1 4th:1 qtr:1 net:1 |@word shr:2 10:1 ct:4 vs:8 14:1 net:3 191:1 465:1 193:1 799:1 sale:2 7:1 160:1 945:1 6:1 576:1 670:1 avg:2 shrs:2 2:1 000:4 565:1 1:4 400:2 year:2 oper:2 33:1 50:1 605:1 725:1 694:1 785:1 23:1 3:1 mln:2 22:1 840:1 692:1 note:1 1985:1 exclude:1 30:1 dlr:1 tax:1 credit:1
|
CAVALIER HOMES INC <CAVH> 4TH QTR NET
Shr 10 cts vs 14 cts
Net 191,465 vs 193,799
Sales 7,160,945 vs 6,576,670
Avg shrs 2,000,565 vs 1,400,000
Year
Oper shr 33 cts vs 50 cts
Oper net 605,725 vs 694,785
Sales 23.3 mln vs 22.1 mln
Avg shrs 1,840,692 vs 1,400,000
NOTE: 1985 year net excludes 30,000 dlr tax credit.
|
training/7193
|
training/7193 |@title colonial:1 commercial:1 corp:1 ccom:1 4th:1 qtr:1 net:1 |@word shr:2 give:2 oper:2 net:2 profit:2 405:1 914:1 vs:4 loss:2 145:1 380:1 revs:2 2:1 446:1 901:1 1:2 295:1 187:1 year:1 211:1 465:1 178:1 101:1 9:1 085:1 222:1 4:1 995:1 735:1 note:1 earning:1 1983:1 benefit:1 prefer:2 shareholder:2 equity:1 equal:1 exceed:1 liquidating:1 mandatory:1 redemption:1 value:1
|
COLONIAL COMMERCIAL CORP <CCOM> 4TH QTR NET
Shr not given
Oper net profit 405,914 vs loss 145,380
Revs 2,446,901 vs 1,295,187
Year
Shr not given
Oper net profit 1,211,465 vs loss 178,101
Revs 9,085,222 vs 4,995,735
NOTE: Earnings from 1983 on benefit preferred shareholders
until preferred shareholders' equity equals or exceeds
liquidating and mandatory redemption values.
|
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