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CARSON PIRIE <CRN> TO START PROXY MAILING | Carson Pirie Scott and Co said it plans
to start mailing proxy materials to stockholders in connection
to a November 16 special meeting at which holders will be asked
to consider a previously announced agreement with Greyhound
Corp <G>.
Under the agreement, Greyhound will acquire, in a merger,
three of the company's foodservice operations - Dobbs
International Services, Dobbs Houses and Carson international.
If the transaction is approved, Carsons said its
stockholders will receive 30 dlrs cash and one share of common
in the new Carson Pirie Scott and Co for each share held.
Reuter
|
PHILIPPINE SENATE ACTS TO SPEED DEBT PACT | The Philippine Senate approved a proposal
to repay loans owed by a private company to speed up the
signing of a 13.2 billion dlr rescheduling agreement with
foreign banks.
It concerns a Barclays Bank managed loan to fertilizer
company Planter Products Inc, said Teofisto Paterno, chairman
of the foreign debt committee.
President Corazon Aquino had accused some creditor banks of
"non-too-subtle coercion" in threatening to refuse to sign the
rescheduling accord until the loan problem was settled.
Over 30 of Philippines' 483 creditor banks still have to
sign the agreement before the November 15 deadline.
REUTER
|
HOME SAVINGS BANK <HMSB.O> 3RD QTR NET | Shr 57 cts
Net 6,889,000 vs 10.7 mln
Nine mths
Shr 1.67 dlrs
Net 20.1 mln vs 22.9 mln
Assets 1.63 billion vs 1.47 billion
Deposits 1.17 billion vs 1.19 billion
Loans 1.25 billion vs 936.5 mln
NOTE: 3rd qtr and nine mths 1986 per share figures not
available because bank converted to stock form Nov 28, 1986.
Reuter
|
WOOLWORTH <Z> COMPLETING TENDER OFFER | FW Woolworth and Co said that 2,223,996
shares of Armel Inc's <AML> common stock were tendered to and
accepted for payment by Woolworth, under the terms of the
previosuly announced cash tender offer which expired at 2400
midnight EDT on October 16.
In addition, Woolowrth said 137,367 Armel shares have been
tendered subject to guaranteed delivery.
Woolowrth said as a result of the tender offer and options
which it has exercised to purchase Armel stock, FWW Acquisiton
Corp, a Woolworth unit, today expects to own about 91.75 pct of
Amrel's outstanding stock.
Woolworth said the percent it owns does not include 583,650
Class A shares of Armel, which were tendered or will be
purchased pursuant to the options.
As previuosly announced, FWW will now proceed with the cash
merger in which all shares of Armel, other than those held by
FWW or Woolworth, will be entitled to receive 7.75 dlrs per
share. Woolworth said it expects to consummate the deal later
this year.
Armel is a specialty retailer of a broad line of athletic
and leisure footwear, accessories and other sportswear.
Reuter
|
PLAINS PETROLEUM CO <PLP> 3RD QTR NET | Shr 15 cts vs 13 cts
Net 1,352,000 vs 1,210,000
Revs 5,953,000 vs 3,309,000
Nine mths
Shr 36 cts vs 27 cts
Net 3,257,000 vs 2,416,000
Revs 16.6 mln vs 9,705,000
NOTE: If FASB adopts accounting changes, then 1987 3rd qtr
per share results will be restated to 22 cts, and 54 cts a
share for 1987 nine mths.
Reuter
|
WELLS-GARDNER CORP <WGA> 3RD QTR NET | Shr profit three cts vs loss two cts
Net profit 107,000 vs 87,000 loss
Revs 6,769,000 vs 4,992,000
Nine mths
Shr profit 21 cts vs loss nine cts
Net profit 778,000 vs loss 314,000
Revs 21.9 mln vs 13.9 mln
Reuter
|
SUN MICRO'S <SUNW.O> TOPS UPGRADES SOFTWARE | Sun Microsystems Co's TOPS
subsidiary said it will have upgraded versions of its NetPrint
and LAN -- local area network -- software packages available
early next month.
The company said version 2.0 of its NetPrint will be
available November 10 at a suggested retail price of 189 dlrs.
NetPrint is software that enables International Business
Machines Corp <IBM> personal computers and compatibles print
directly to Apple Computer Inc <AAPL.O> LaserWriters or other
PostScript compatible printers on an AppleTalk network.
TOPS said it will begin shipping version 2.0 of its LAN
software packages providing file sharing among Apple macintosh
computers, IBM PCs and compatibles, and UNIX-based systems to
retailers November six.
It said the TOPS/DOS version 2.0, which will have a
suggested retail price of 189 dlrs, allows PCs on the network
to access dedicated printers fomerly availabe to only one user.
The TOPS/Macintosh version 2.0, also listed at 189 dlrs,
introduces a "remember" function that allows users to make
files available to the network and access remote files
automatically. In addition, the software is now fully
compatible with all Apple File Protocol applications.
Both LAN's include FlashTalk, a recently announced PC-to-PC
communications architecture that operates at three-times TOPS'
AppleTalk speed and is slated to sell for 239 dlrs.
Reuter
|
PROSPECT GROUP HAS 14.3 PCT OF BRINKMANN<BRIK.O> | New York-based Prospect Group Inc
<PROSZ.O> said it acquired 527,000 shares of Brinkmann
Instruments Inc common stock, or 14.3 pct of the scientific
instrument maker's common stock outstanding.
In a filing with the Securities and Exchange Commission,
Prospect Group said it bought the 527,000 Brinkmann shares in
open market transactions between August 12 and October 16 at
9.62 dlrs to 11.50 dlrs, or a total of 5.69 mln dlrs.
Prospect Group said it bought the stock "to establish a
significant minority equity interest in the company," but does
not intend to seek control of Brinkmann at the present time.
Prospect Group said it will review its investment
objectives regarding Brinkmann as warranted by market
conditions, the company's performance, and other factors
including discussions with Brinkmann management.
Reuter
|
IC INDUSTRIES AUTHORIZES REPURCHASE OF 500 MLN DLRS TO 1.0 BILLION DLRS OF ITS STOCK
| |
IC INDUSTRIES SAYS IT WILL CONSIDER POSSIBLE SALE OF ITS AEROSPACE BUSINESS
| |
WARNER <WCI> HAS 8.2 PCT BERKEY INC <BKY> STAKE | Warner Communications Inc said its
Warner Communications Investors Inc unit acquired stock and
warrants representing 416,668 shares of Berkey Inc common
stock, or the equivalent of 8.2 pct of the company's common
stock outstanding.
In a filing with the Securities and Exchange Commission,
Warner Communications Investors said it paid about one mln dlrs
to Berkey on September 23 to acquire 104,167 shares of Berkey
Series B convertible preferred stock.
The preferred stock is convertible into 208,334 Berkey
common shares, and warrants to buy another 208,334 shares.
Warner Communications and its subsidiary said the Berkey
stock is held as an investment which they will review and
evaluate from time to time.
Reuter
|
AMERICAN CYANAMID CO <ACY> 3RD QTR NET | Oper shr 59 cts vs 49 cts
Oper net 54.7 mln vs 44.8 mln
Sales 1.04 billion vs 921.4 mln
Nine mths
Oper shr 2.22 dlrs vs 1.62 dlrs
Oper net 203.8 mln vs 150.4 mln
Sales 3.14 billion vs 2.87 billion
Avg shrs 91.6 mln vs 93.1 mln
NOTE: 1986 share data restated to reflect 100 pct stock
dividend distributed June 12
1987 operating net in both periods excludes additional gain
of 11.6 mln dlrs, or 13 cts a share, associated with 1985 sale
of Formica Brand Products Group business
1987 nine month operating net includes pre-tax gain of 12.0
mln dlrs, equal to about 13 cts a share, from sale of
Jacqueline Cochran businesses
Reuter
|
TANDY CORP <TAN> 1ST QTR SEPT 30 NET | Shr 71 cts vs 49 cts
Net 64.3 mln vs 43.7 mln
Revs 838.2 mln vs 742.6 mln
Avg shrs 89.9 mln vs 89.9 mln
Reuter
|
BELL ATLANTIC CORP <BEL> 3RD QTR NET | Shr 1.62 dlrs vs 1.49 dlrs
Net 321.8 mln vs 297.9 mln
Revs 2.59 billion vs 2.49 billion
Avg shrs 198.8 mln vs 199.5 mln
Nine mths
Shr 2.80 dlrs vs 4.48 dlrs
Net 955.4 mln vs 895.2 mln
Revs 7.70 billion vs 7.32 billion
Avg shrs 199.0 mln vs 199.7 mln
Reuter
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WANG LABORATORIES INC <WANB> 1ST QTR SEPT 30 | Shr profit 14 cts vs loss 19 cts
Net profit 22.5 mln vs loss 30.0 mln
Revs 693.0 mln vs 597.9 mln
Avg shrs 166.0 mln vs 154.2 mln
NOTE: Prior year net includes five mln dlr tax credit.
Reuter
|
BROCKWAY INC <BRK> 3RD QTR NET | Shr 98 cts vs 70 cts
Net 12.3 mln vs 8,699,000
Sales 284.7 mln vs 280.7 mln
Nine mths
Shr 2.83 dlrs vs 2.23 dlrs
Net 35.3 mln vs 27.6 mln
Sales 824.6 mln vs 818.4 mln
NOTE: Share adjusted for December 1986 three-for-two split.
Reuter
|
NUI <NUI> MAY SPIN OFF NONUTILITY OPERATIONS | NUI Corp said it is studying
the feasibility of spinning off nonutility subsidiaries to
shareholders.
The company said its propane disution, natural gas spot
marketing, data processing, oil and natural gas exploration and
production, natural gas gathering and underground pipe
replacement businesses had sales for the year ended September
30 of about 74 mln dlrs, or about 25 pct of total company
sales. NUI's major subsidiary is utility Elizabethtown Gas.
Reuter
|
UNISYS CORP 3RD QTR SHR 65 CTS VS 34 CTS
| |
TELEX <TC> MAY SEEK OTHER PURCHASERS | Telex Corp said its board has directed
management and financial advisor Drexel Burnham Lambert Inc to
investigate possible alternatives to the tender offer of Asher
Edelman's TLX Partners for all Telex shares that may include
seeking other purchasers for Telex.
The company said the board at an October 16 meeting decided
to defer until a board meeting later this week a recommendation
on the Edelman offer and said the board expects to make a
recommendation by October 23.
Reuter
|
FINANCIAL CORP OF AMERICA 3RD QTR SHR LOSS 2.20 DLRS VS PROFIT 24 CTS
| |
IBC ACQUISITION GETS 8,857,807 SHARES IN TENDER, TO BUY 90.9 PCT
| |
SWISS ANALYSTS SAY MOOD ON MARKETS PRECARIOUS | Today's sharp sell-off of Swiss stocks and
matching falls around Europe may have been overdone, but the
mood on financial markets is precarious, Swiss securities
analysts and economists said.
Panic selling took Swiss shares down six pct at the opening
on enormous volume, triggered by the slide on Wall Street and
the threat of renewed currency instability.
"I have never experienced anything like this, and I've been
in the business for 20 years," said Bernhard Wyttenbach, head of
European research at Union Bank of Switzerland.
The analysts blamed the sell-off in Europe on U.S. Monetary
authorities. This weekend, U.S. Treasury Secretary James Baker
publicly voiced his displeasure with West German monetary
policy. He said the eight-month-old Louvre accord to stabilise
currencies was still working, but added: "On the other hand, we
will not sit back and watch surplus countries jack up interest
rates and squeeze growth on the expectation that the United
States will raise rates."
Hans Peter Ast of Societe Generale Alsacienne (Sogenal) in
Zurich said: "The situation is very dangerous. Statements by the
U.S. Authorities have fuelled anxiety about interest rates."
Herbert Fritschi, director of Zurich Cantonal Bank's
financial research department, called the sell-off "overdone,"
but warned that the situation could worsen unless central banks
loosen their monetary policy.
"I think the trend toward higher interest rates is over," he
said. "The Federal Reserve and the Bundesbank have to step in
with an easy money policy, or else there is going to be an
economic catastrophe. They have to act quickly."
Wyttenbach said the "Black Monday" sell-off was clearly
exaggerated, with Swiss Reinsurance Co participation
certificates falling 20 pct in value at one point.
But Wyttenbach said he did not believe that a correction
would come soon. First, the bad news will reach small investors
only in time for tomorrow's market, when there could be
another, smaller selling wave.
"As soon as the dollar stabilises -- and that's the key --
then we'll get a strong movement upward," Wyttenbach said. But
that may not come soon.
"People are simply worried that in America, where the market
has now fallen by 18 pct since August, the bull market is over,"
he said. "People are afraid that we'll have a recession in 1988."
Baker was wrong to blame the West Germans for the current
problems and the weak dollar, Wyttenbach said. "We do not have a
mark problem, we have a dollar problem," he added, but said the
biggest culprit was the new chairman of the U.S. Federal
Reserve Board, Alan Greenspan.
Wyttenbach recalled that Greenspan had suggested that the
dollar might be too high in the medium term and that interest
rates might have to rise. "As a central banker he shouldn't do
that," Wyttenbach said. "There is a danger that we will fall back
into the 1970s," he said. "We have a real crisis of confidence in
Greenspan. I would much rather have a Volcker."
Paul Volcker retired as Fed chairman on August 11.
Cantonal Bank's Fritschi said: "I'm relatively optimistic
because the situation looks too bad. The Fed certainly has to
intervene."
He said he did not expect the Swiss National Bank to take
any significant steps, adding that the focus of attention
remains on the United States.
"The panic started in New York, it has to end there."
The Cantonal Bank sent an advisory to customers suggesting
they not sell into a panicked market, but wait a while before
deciding what to do.
REUTER
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SOVIET UNION SETS 4.5 PCT INDUSTRIAL OUTPUT GROWTH | Soviet Planning chief Nikolai Talyzin told
the Supreme Soviet (parliament) industrial output is planned to
rise by 4.5 pct in 1988, up from a planned 4.4 pct in 1987.
In the first nine months of this year, industrial output
rose by 3.6 pct.
Talyzin said national income, the nearest Soviet equivalent
to gross national product, is planned to rise by 4.3 pct
against a planned 4.1 pct this year.
He said grain production is planned at 235 mln tonnes in
1988, compared with a planned 232 mln this year.
The Soviet Union produced 210 mln tonnes of grain in 1986
and the Soviet press has said heavy rain has affected the
harvest this year.
Talyzin said the 1988 Soviet plan stressed the engineering
industry, which Kremlin leader Mikhail Gorbachev has described
as a sector where rapid modernisation is essential if the
Soviet Union is to compete effectively on world markets.
"Certain difficulties have arisen this year in the
machine-building industry. The economy is not receiving a
considerable amount of the equipment that it requires," said
Talyzin, who heads the state planning committee Gosplan.
Soviet data show the machine-building industry, which makes
machine tools, instruments and other engineering goods,
increased output by 3.3 pct in the first nine months of this
year against the same period of 1986. This is well below the
7.3 pct rise planned for the industry for all of 1988.
Talyzin said the ruling Politburo concluded at a recent
meeting that an improvement in economic performance depended to
a large extent on conserving resources better. "Large-scale
measures are planned to save resources," he said.
Finance Minister Boris Gustev told the Supreme Soviet
defence spending in 1988 would total 20.2 billion roubles, the
same as announced last year.
Talyzin said the Kremlin also had decided to increase
spending next year on medical services, education, pensions and
social insurance schemes
He said state expenditures in these fields would reach 171
billion roubles in 1988, or 3.5 billion roubles more than had
originally been envisaged in the 1986-1990 Five-Year Plan.
REUTER
|
BELL ATLANTIC CORP 3RD QTR SHR 1.62 DLRS VS 1.49 DLRS
| |
J.P. MORGAN AND CO INC 3RD QTR SHR 1.18 DLRS VS 1.15 DLRS
| |
KANSAS CITY EXCHANGE'S AUDIT TRAIL ADEQUATE | The Commodity Futures Trading
Commission (CFTC) said the Kansas City Board of Trade's (KCBT)
one-minute audit trail system was adequate and accurate.
But in its second rule enforcement review of an exchange's
audit trail system, CFTC said KCBT needed to provide a more
accurate indication of the percent of trades that meet the
one-minute timing standard.
CFTC also recommended the exchange develop a computerized
program to compare time and sales prints to the record of
trades in its trade register.
Reuter
|
IDC SERVICES AGREES TO BE ACQUIRED FOR 16 DLRS A SHARE BY APOLLO PARTNERS GROUP
| |
COOPER <COO> FILES FOR 300 MLN DLR NOTE OFFERING | Cooper Companies Inc filed with the
Securities and Exchange Commission for a proposed offering of
up to 300 mln dlrs of senior extendible notes set to mature on
January 1, 1993.
Drexel Burnham Lambert Inc will act as an underwriter for
the proposed offering, Cooper said.
Proceeds from the offering will be used to repay debt, for
general corporate purposes, and to support future growth.
Reuter
|
MANAGEMENT GROUP HAS RESTAURANT <RA> MAJORITY | Restaurant Associates Industries Inc
said the management group led by chairman Martin Brody and
president Max Pine through October 16 had received 1,796,727
Class A and 1,766,091 Class B shares in response to its tender
offer for all shares at 18 dlrs each, giving thema majority of
each class of shares.
The company said the tender has been extended until
November 6.
Reuter
|
XIDEX CORP <XIDX.O> 1ST QTR SEPT 30 NET | Shr 13 cts vs 22 cts
Net 5,452,000 vs 9,789,000
Sales 155.7 mln vs 135.1 mln
NOTE: Prior year net includes gain 6,556,000 dlrs from sale
of shares of Seagate Technology Corp <SGAT.O>.
Reuter
|
CALFED INC <CAL> 3RD QTR NET | shr 1.99 dlrs vs 2.05 dlrs
diluted shr 1.80 dlrs vs 1.75 dlrs
net 50.0 mln vs 48.5 mln
nine months
shr 5.37 dlrs vs 5.69 dlrs
diluted shr 4.87 dlrs vs 4.76 dlrs
net 134.6 mln vs 129.6 mln
Reuter
|
TANDY CORP 1ST QTR SHR 71 CTS VS 49 CTS
| |
HOG AND CATTLE SLAUGHTER GUESSTIMATES | Chicago Mercantile Exchange floor traders
and commission house representatives are guesstimating today's
hog slaughter at about 305,000 to 320,000 head versus 291,000 a
week ago and 282,000 a year ago.
Cattle slaughter is guesstimated at about 128,000 to
132,000 head versus 128,000 week ago and 130,000 a year ago.
Reuter
|
GENCORP <GY> SEEKS RETENTION OF LICENSES | Gencorp's RKO General said it has
asked the Federal Communication scommission to reverse an
administrative law judge's decision to revoke all 14 of the
company's broadcast licenses.
RKO General said "the decision was based on allegations of
misconduct that are either in error or have no bearing on our
fitness as a broadcaster."
It said the decision did not challenge the quality of our
broadcasting. Yet, if the decision is allowed to stank, it will
destroy our right to broadcast."
Reuter
|
SECURITY PACIFIC CORP <SPC> 3RD QTR NET | Shr 1.16 dlrs vs 1.09 dlrs
Net 128.1 mln vs 118.3 mln
Avg Shrs 108.8 mln vs 105.7 mln
Nine Months
Shr 40 cts vs 3.12 dlrs
Net 53.2 mln vs 335.1 mln
Avg Shrs 108.0 mln vs 105.2 mln
Note: Prior-period data have been restated to include on a
pooling-of-interest basis the August 31, 1987, acquisition of
Rainier Bancorporation.
Reuter
|
PHELPS DODGE CORP <PD> 3RD QTR NET | Shr 1.77 dlrs vs 60 cts
Net 58.2 mln vs 19.4 mln
Revs 377.4 mln vs 188.0 mln
Nine mths
Shr 3.10 dlrs vs 1.51 dlrs
Net 100.3 mln vs 50.6 mln
Revs 1.11 billion vs 639.7 mln
NOTE: 3rd qtr 1987 net includes about 3,000,000 dlrs
after-tax extraordinary gain on retirement of debt.
Reuter
|
CRANE CO <CR> 3RD QTR NET | Shr 70 cts vs 54 cts
Net 16.7 mln vs 12.5 mln
Revs 343.6 mln vs 323.1 mln
Avg shrs 23.9 mln vs 24.8 mln
Nine mths
Shr 1.98 dlrs vs 1.23 dlrs
Net 46.9 mln vs 27.8 mln
Revs 960.5 mln vs 893.2 mln
Avg shrs 24.2 mln vs 24.9 mln
NOTE: 1986 figures reflect the adjustment for 3-for-2 split
in May 1987.
Net for nine mths 1987 includes a cumulative effect of a
change in accounting for gain on pension assets reversion of
10.1 mln or 42 cts a shr.
Reuter
|
ATT <T> PLANS COMPUTER USING SUN <SUNW.O> CHIP | American Telephone and Telegraph Co said
it plans to build a new computer that incorrates a unified
version of its UNIX System IV operating system and Sun
Microsystems Inc's recently annouced SPARC micropocessor.
The SPARC chip is based on reduced instruction-set
computing, or RISC, technology.
ATT said the version of UNIX used by the new computer will
incorporate po;ular features of the Berkeley 4.2 system, a
dirative of the UNIX system used widely in scientific and
engineering markets, as well as features of SunOs, a variant of
the Berkely system sold by Sun.
ATT said it would take 18 months to two years to develop
new computers based on the Sun microchip and the merged version
of the UNIX operating system.
Vittorio Cassoni, president of ATT's newly-formed Data
Systems Group, said the company will not offer the new machines
until the merged version of UNIX is completed.
"It's the software that will determine the availability of
products based on SPARC," he said.
Eventually ATT's entire line of 3B mini computers will be
converted to the SPARC architecture, Cassoni said.
The investment of all current users will be protected,
meaning that they will be able to maintain the software used on
the current 3B line, he said.
Cassoni also said ATT's sales of computers declined in the
first nine months of the year compared with the first nine
months of last year.
The lower sales were primarily the result of ATT's
transition to a new line of computers, he said.
However, "demand for the new products is way, way above
expectation," he stated.
Reuter
|
AMERICAN CYANAMID CO 3RD QTR OPER SHR 59 CTS UP 22 PCT
| |
TELEX CORP TO INVESTIGATE ALTERNATIVES TO TLX PARTNERS BID, MAY SEEK OTHER PURCHASERS
| |
LOTUS DEVELOPMENT CORP <LOTS.O> 3RD QTR NET | Shr 42 cts vs 21 cts
Net 19.1 mln vs 9,528,000
Sales 101.2 mln vs 65.6 mln
Avg shrs 46.0 mln vs 46.0 mln
Nine mths
Shr 1.08 dlrs vs 69 cts
Net 49.1 mln vs 32.7 mln
Sales 280.0 mln vs 201.0 mln
Avg shrs 45.6 mln vs 47.4 mln
NOTE: Share adjusted for February 1987 two-for-one split.
Reuter
|
WANG LABORATORIES INC 1ST QTR SHR PROFIT 14 CTS VS LOSS 19 CTS
| |
IRAN SAYS U.S. NAVAL FORCES ATTACKED TWO PLATFORMS | Iran said U.S. Naval forces attacked two
of its oil platforms in the southern Gulf on Monday afternoon,
the Iranian news agency IRNA reported.
IRNA, received in Nicosia, said an informed source at the
Iranian oil ministry identified the two platforms as Resalat
and Reshadat, about 60 miles from Iran's Lavan island oil
storage site.
Regional shipping sources earlier said three Iranian
offshore oil sites at Sassan, Rostam and Rakhsh had been
attacked at 7.00 A.M. (0300 GMT) on Monday by unidentified
aircraft.
In Washington, U.S. Defence Secretary Caspar Weinberger
said four U.S. Destroyers attacked and destroyed an Iranian oil
platform about 120 miles east of Bahrain.
REUTER
|
CHICAGO MERC'S AND P 500 STOCK INDEX FUTURES OPEN MORE THAN 20 POINTS LOWER
| |
WALL STREET STOCKS OPEN BROADLY LOWER
| |
BROCKWAY INC 3RD QTR SHR 98 CTS VS 70 CTS
| |
SOUTHWEST BANCORP <SWB> 3RD QTR LOSS | Oper shr loss 82 cts vs profit 12 cts
Oper net loss 4,134,000 vs profit 544,000
Avg shrs 5,030,000 vs 3,927,000
Nine mths
Oper shr loss 80 cts vs profit 32 cts
Oper net loss 3,615,000 vs profit 1,457,000
Avg shrs 4,557,000 vs 3,927,000
NOTE: 1986 net excludes tax loss carryforwards of 105,000
dlrs in quarter and 195,000 dlrs in nine mths.
1986 quarter net includes 212,000 dlr tax credit.
1987 net both periods includes 3,700,000 dlr addition to
loan loss reserves due mostly to one out-of-state real estate
transaction.
Reuter
|
GATX CORP <GMT> 3RD QTR NET | Shr 95 cts vs 36 cts
Net 9,100,000 vs 3,300,000
Revs 143.7 mln vs 132.4 mln
Avg shrs 9,884,000 vs 9,780,000
Nine mths
Shr 2.77 dlrs vs 1.49 dlrs
Net 26,600,000 vs 19,000,000
Revs 401.8 mln vs 385.2 mln
Avg shrs 9,871,000 vs 12,565,000
NOTE: 1986 earnings include a loss from discontinued
operations of 1,000,000 dlrs, or 10 cts a share in the quarter
and a gain of 2,500,000 dlrs, or 19 cts a share for the nine
months
Reuter
|
KENYA DEBT SERVICING TO ABSORB MOST AID - MOI | Rising service payments on Kenya's three
billion dlr external debt will absorb nearly all the 1.1
billion dlrs of foreign aid likely over the next four years,
President Daniel arap Moi said.
"While we expect to receive 18.3 billion Kenyan shillings in
the form of external loans for our development programs in the
next four years, we will be repaying more than 13.5 billion...
By way of external debt servicing...," Moi told a conference of
American businessmen in Nairobi.
The president added that if developing countries continue
to experience foreign exchange outflows on this scale, many
will be unable to sustain a level of imports necessary to
ensure economic growth. He called on the international
community to ensure a real transfer of resources from the
industrialised to the developing countries.
Moi said Kenya had so far met all obligations regarding its
foreign debt, which his government has never tried to
reschedule.
REUTER
|
LOTUS DEVELOPMENT CORP 3RD QTR SHR 42 CTS VS 21 CTS
| |
MICROSOFT CORP <MSFT.O> 1ST QTR NET | Shr 38 cts vs 29 cts
Net 21.3 mln vs 15.8 mln
Revs 102.6 mln vs 66.8 mln
Reuter
|
GENCORP SAID IT ASKED THE FCC TO REVERSE REVOCATION OF ITS BROADCAST LICENSES
| |
CMS ENERGY CORP <CMS> 3RD QTR NET | Shr 65 cts vs 10 cts
Net 55,960,000 vs 8,785,000
Revs 588.2 mln vs 596.1 mln
Avg shrs 85,710,000 vs 87,987,000
Nine mths
Shr 1.24 dlrs vs 44 cts
Net 106,738,000 vs 39,055,000
Revs 1.98 billion vs 2.24 billion
Avg shrs 86,320,000 vs 88,007,000
NOTE: 1986 data restated for adoption of new accounting
standard relating to pensions
1987 nine month earnings include 331 mln dlr after-tax
writeoff in the 4th Qtr of 1985 of a portion of the assets of
the company's Midland nuclear project
Reuter
|
SHAMROCK COMPLETES CENTRAL SOYA SALE TO FERRUZZI | Shamrock Capital LP said it has
completed the sale of Cental Soya Co Inc to Ferruzzi Agricola
Finanziaria the holding company for the Ferruzzi group of
Ravenna, Italy.
Shamrock Capital is a limited partnership led by Shamrock
Holdings Inc, the Roy E. Disney family company.
Under the agreement announced last month, Ferruzzi acquired
all the equity and assumed subordinated term debt of about 195
mln dlrs in a transaction valued at about 370 mln dlrs.
Reuter
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CURTICE BURNS FOODS INC <CBI> 1ST QTR NET | Qtr ends Sept 25
Shr 75 cts vs 64 cts
Net 2,794,000 vs 2,363,000
Revs 157.8 mln vs 138.4 mln
NOTE: 1986 qtr figures exclude effect of 1986 tax reform
act which retroactively reduced earnings from 64 cts to 56 cts
per shr.
Reuter
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PHELPS DODGE CORP 3RD QTR NET 58.2 MLN DLRS VS 19.4 MLN DLRS
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CMS ENERGY CORP 3RD QTR SHR 65 CTS VS 10 CTS
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VW SAYS AUTOLATINA TO LOSE 500 MLN MARKS IN 1987 | Autolatina, Volkswagen AG
<VOWG.F> and Ford Motor Co's <F> Latin American joint venture,
was expected to make losses of 500 mln marks from Brazilian
operations in 1987, VW spokesman Ortwin Witzel said.
He could not comment on a report in the Frankfurter
Rundschau daily that Ford might pull out of the venture, set up
in 1986 to incorporate VW's and Ford's Brazilian and Argentine
operations. Ford holds 49 pct of Autolatina.
Witzel blamed Autolatina's losses on Brazil's government
price restrictions but said the losses were in line with
expectations. VW's Brazil unit lost 258 mln marks in 1986.
Reuter
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U.S. NAVAL FORCES ATTACK IRANIAN OIL PLATFORM | U.S. warships attacked and destroyed
an Iranian oil platform on Monday in retaliation for Friday's
Iranian attack damaging a U.S.-flagged ship, U.S. Defense
Secretary Caspar Weinberger said.
When asked how much was left of the oil platform,
Weinberger said, "Nothing."
"There was no Iranian reaction," he said. "... We consider
this matter is now closed."
Weinberger said four U.S. destroyers attacked the platform
about 120 miles east of Bahrain in the central Gulf with fire
at 0700 EDT, Weinberger said.
"We chose a platform used by the Iranians to interfere with
and be a source of potential attack on convoys...," Weinberger
said at a Pentagon briefing.
"We know it has been used indeed, to not only launch small
boat attacks on shipping but to fire on U.S. helicopters...
"It's removal will contribute significantly to the safety of
U.S. forces in the future," Weinberger said of the U.S. Navy's
operation to escort oil tankers through the Gulf.
"We do not seek further confrontation with Iran but we will
be prepared to meet any escalation of military actions by Iran
with stronger countermeasures," Weinberger said.
He said the 20 to 30 Iranian personnel on the oil platform
were given a 20-minute warning to abandon the platform.
"As far as we know they did abandon the site," he said.
Weinberger was asked why the United States had chosen to
attack an oil platform rather than Iranian Silkworm missile
platforms blamed by Washington for Friday's attack.
Reuter
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LINDBERG CO <LIND.O> 3RD QTR NET | Shr profit 10 cts vs profit eight cts
Net profit 477,853 vs profit 348,384
Sales 17.7 mln vs 17.3 mln
Nine mths
Shr loss 35 cts vs profit 45 cts
Net loss 1,639,216 vs profit 2,305,700
Sales 56.2 mln vs 57.1 mln
Avg shrs 4,698,501 vs 5,075,717
NOTE: Earnings in the 2nd Qtr of 1987 were reduced by
3,262,000 dlrs, or 69 cts a share from a charge reflecting
elimination or transfer of certain product lines and operations
at the company's Racine, Wis. foundry
Reuter
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OGDEN <OG> SETS BERKS COUNTY WASTE FACILITY | Ogden Corp said its Ogden Martin System
of Berks Inc subsidiary has signed a contract with Berks
County, Pa., to build, own and operate a resource recovery
plant designed to process 365,000 tons per year of municipal
solid waste.
Ogden said 66 of the 75 municipalities in the county have
signed letters of intent to be served by the facility.
It said initial financing will include 75 mln dlrs in tax
exempt resources recovery revenue bonds to be issued by the
Berks County Industrial Development Authority, the company
said.
Another 75 mln dlrs Pennsylvania State Bond Allocation is
pending, Ogden said. The company will contribute about 21.1 mln
dlrs in equity.
It said total cost is about 105 mln dlrs, plus escalation,
for the plant which will produce about 30 megawatts of
electricity.
Reuter
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SHAMROCK COMPLETES CENTRAL SOYA SALE TO FERRUZZI | Shamrock Capital LP said it has
completed the sale of Cental Soya Co Inc to Ferruzzi Agricola
Finanziaria the holding company for the Ferruzzi group of
Ravenna, Italy.
Shamrock Capital is a limited partnership led by Shamrock
Holdings Inc the Roy E. Disney family company.
Under the agreement announced last month, Ferruzzi acquired
all the equity and assumed subordinated term debt of about 195
mln dlrs in a trction valued at about 370 mln dlrs.
Reuter
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