text
stringlengths 0
9.69k
| target
stringlengths 0
137
|
|---|---|
International Business Machines Corp said it and Bell Atlantic Corp agreed to jointly study product opportunities for intelligent network services in the international marketplace. The company said the study will assess the marketplace requirements outside the U.S. for a series of intelligent network voice data and image application. The company said the applications include 800-number service alternate billing services and private network services. Reuter | IBM <IBM>, BELL ATLANTIC <BEL> IN STUDY PACT |
Shr primary 1.79 dlrs vs 1.72 dlrs Shr diluted 1.39 dlrs vs 1.34 dlrs Net 12.1 mln vs 11.7 mln Nine mths Shr primary 5.56 dlrs vs 4.41 dlrs Shr diluted 4.30 dlrs vs 3.74 dlrs Net 37.3 mln vs 29.1 mln Assets 3.92 billion vs 3.83 billion Loans 3.05 billion vs 2.99 billion NOTE: 1987 qtr and nine mths includes gain 6016000 dlrs and 18.7 mln dlrs respectively from utilization of net operating loss carryforward. 1986 qtr and nine mths includes gain 6233000 dlrs and 15.5 mln dlrs respectively from utilization of net operating loss carryforward. Full name of company is american savings bank fsb of new york. Reuter | AMERICAN SAVINGS BANK FSB <ABNY.O> 3RD QTR NET |
The White House reacted calmly to the stock market situation saying there was no crisis atmosphere and no action planned. Spokesman Marlin Fitzwater said he had no information about special White House working groups or other actions that might indicate a feeling of crisis. There is not one he said. He said President Reagan had not scheduled any meeting with Treasury Secretary James Baker now en route form Europe. At the same time Fitzwater welcomed the action of major banks in rescinding increases in the prime interest rate. Reuter | NO WHITE HOUSE PANIC ON MARKET, SPOKESMAN SAYS |
Baxter Travenol Laboratories Inc said sales of its hospital products and services rose 13 pct to 882 mln dlrs in the 1987 third quarter. The company said medical systems and specialties sales increased six pct to 354 mln dlrs. Alternate site products and services sales rose 13 pct to 261 mln dlrs. Industrial products sas gained 18 pct to 88 mln dlrs. The companys total sales in the third quarter rose 11 pct to 1.58 billion dlrs. Baxter said its domestic sales in the third quarter totaled 1.25 billion dlrs while sales from international markets rose to 333 mln dlrs. Stronger foreign currency values contributed about 29 mln dlrs to third quarter international sales it said. Earlier the company reported 1987 third quarter earnings of 90 mln dlrs or 31 cts a share up from 51 mln dlrs or 18 cts in the comparable 1986 period. Reuter | BAXTER <BAX> REPORTS GAINS IN HOSPITAL PRODUCTS |
U.S. BROKER/DEALER H.B. SHAINE AND CO SAID IT HAS CEASED OPERATIONS |
|
A and W Brands Inc said it completed the acquisition of Vernors Inc from United Brands Co <UB> in a cash and stock transaction worth valued at about 10 mln dlrs Reuter | A/W BRANDS <SODA.O> COMPLETES ACQUISITION |
BANC ONE CORP 3RD QTR SHR 66 CTS VS 57 CTS |
|
KELLOGG CO 3RD QTR SHR 96 CTS VS 83 CTS |
|
JANNOCK LTD INCREASES QTLY DIVIDEND TO 17 CTS FROM 13 CTS/SHR |
|
Shr 4.77 dlrs vs 1.65 dlrs Net 61.3 mln vs 21.1 mln Revs 312.9 mln vs 291.5 mln Nine mths Shr 9.51 dlrs vs 4.98 dlrs Net 122.3 mln vs 63.9 mln Revs 950.4 mln vs 881.8 mln NOTE: 1987 net in both periods includes gains of 24.2 mln dlrs or 1.88 dlrs a share from sale of interest in Detroit Cellular telephone company and 6.1 mln dlrs or 47 cts a share from sale of interest in sportschannel Cable programing network. Reuter | WASHINGTON POST CO <WPO> 3RD QTR NET |
Irans top war spokesman Ali Akbar Hashemi Rafsanjani on Tuesday called the U.S. Attacks on two of its Gulf oil platforms an escalation and promised retaliation. God willing we will carry out our duty in the coming days and make them sorry said Rafsanjani in a speech to Parliament later broadcast by Tehran Radio. The Tehran leadership have been quick to threaten vengeance after the U.S. Raids on the rigs one of which was destroyed. President Ali Khamenei Prime Minister Mir-Hossein Mousavi and now Rafsanjani within 24 hours of the U.S. Action have all vowed retaliation. Rafsanjani the parliamentary speaker said It is not a threat or an attempt at intimidation when we say we will respond to aggression -- it is a reality and we have proved it in practice. He added that the American attack squares neither with its superpower image nor its claim of concern with security nor reason and wisdom. U.S. Warships shelled an Iranian offshore oil platform and American special forces boarded another destroying equipment. The U.S. Government said the attack was a measured response to an Iranian missile attack on the American-flagged Kuwaiti tanker Sea Isle City in Kuwaiti waters last Friday. REUTER | IRAN LEADER VOWS REVENGE ON US RAID IN COMING DAYS |
Shr 66 cts vs 57 cts Net 64.0 mln vs 52.9 mln Nine mths Shr 1.49 dlrs vs 1.64 dlrs Net 142.2 mln vs 153.3 mln Assets 18.04 billion vs 16.63 billion Deposits 13.97 billion vs 12.78 billion Loans 12.54 billion vs 10.81 billion Reuter | BANC ONE CORP <ONE> 3RD QTR NET |
U.S. Agriculture Secretary Richard Lyng said he is pleased the European Community plans to offer a global farm reform plan at GATT later this month although the United States opposes key parts of the proposal. Were pleased that they have moved in tabling a proposal. It will help us in getting the negotiations underway Lyng told Reuters in an interview Tuesday. Lyngs comment came after EC ministers in Luxembourg endorsed a farm reform package drafted by the EC Commission. The EC plan will be presented at the next meeting of Uruguay round agriculture negotiators in Geneva on October 26. Lyng said the United States would oppose parts of the plan seeking a market sharing agreement for grains and proposing curbs on U.S. soybean and cereal substitute exports to Europe. The U.S. in July proposed to GATT the elimination of all farm subsidies affecting trade within ten years and has pressed the EC to make a counter-offer with the aim of reaching a global farm subsidy agreement by the end of 1988. However the EC and some U.S. domestic groups have said the Reagan administration plan to end all farm trade subsidies is unrealistic. Asked about such criticism Lyng said The alternative to doing that is to say that we preserve them and maintain them. I think that is the unrealistic position. I would suggest that they (EC) listen to what we are trying to say. Lyng also rejected suggestions the U.S. and EC agree a freeze in export subsidies to get the GATT negotiations started. All that some countries would like to have would be a wheat agreement where we would stop export subsidies on wheat. That doesnt do a thing for us Lyng said. The United States wants an end to subsidies in a range of agricultural products from dairy products to vegetable oils he said. At the GATT negotiators meeting next week Canada is expected to offer a proposal as well as the EC. The United States will be represented at the meeting by former agriculture undersecretary Daniel Amstutz recently appointed special U.S. negotiator on agriculture. Reuter | LYNG PLEASED EC TO OFFER GATT FARM PROPOSAL |
TOYOTA SEES LOWER U.S. SALES IN 1988 |
|
Shr 41 cts vs 28 cts Net 66.2 mln vs 41.8 mln Revs 824.1 mln vs 693.3 mln Nine mths Shr 1.50 dlrs vs 87 cts Net 236.1 mln vs 123.8 mln Revs 2.38 billion vs 2.02 billion Reuter | WARNER COMMUNICATIONS INC <WCI> 3RD QTR NET |
NEW YORK STATE ELECTRIC AND GAS CORP 3RD QTR SHR 71 CTS VS 78 CTS |
|
Shr 72 cts vs 56 cts Qtly div 18 cts vs 18 cts prior Net 18.7 mln vs 14.4 mln Revs 239.7 mln vs 187.1 mln Nine mths Shr 1.87 dlrs vs 1.26 dlrs Net 48.3 mln vs 32.5 mln Revs 676.9 mln vs 574.8 mln NOTE: Dividend payable December 1 to shareholders of record October 30. Reuter | ARISTECH CHEMICAL CORP <ARS> 3RD QTR NET |
Shr 1.54 dlrs vs 1.27 dlrs Net 7065000 vs 5812000 Nine mths Shr 4.25 dlrs vs 3.40 dlrs Net 19.5 mln vs 15.6 mln Assets 2.84 billion vs 1.87 billion Deposits 2.51 billion vs 1.67 billion NOTE: 1987 qtr and nine mths includes gain 2500000 dlrs or 54 cts per share from utilization of tax loss carryforward. 1986 qtr and nine mths includes gain 2158000 dlrs or 47 cts per share and 5567000 dlrs or 1.22 dlrs per shr respectively from utilization of tax loss carryforward. Reuter | APPLE BANK FOR SAVINGS <APPL.O> 3RD QTR NET |
Bethlehem Steel Corp said prices for steel sheet products will be increased up to 30 dlrs a ton effective January 3. The increases will affect certain non-contract or spot transactions and will be achieved through reductions in competitive discounts. The company said transaction prices for contract accounts which have a duration of six months or more will also be increased to commensurate levels. Percentage increases were not immediately available. Prices for flat-rolled steel sheet used in automobiles appliances and other products vary widely between about 350 and 800 dlrs a ton. The company said it was taking the actions to restore sheet transaction prices to more equitable levels. In many cases prices are still lower than those attained in 1984 it said. Bethlehem also said that in response to changing market conditions and potential inflationary pressures efforts will be made to mininize the number and the duration of firm price contracts. Reuter | BETHLEHEM STEEL <BS> SETS STEEL PRICE INCREASES |
DOW JONES INDUSTRIAL AVERAGE UP 39 POINTS TO 1778 AT 1129 EDT, ADVANCE LOSES MOMENTUM |
|
FED SAYS IT SETS TWO-DAY SYSTEM REPURCHASE AGEEMENTS |
|
Shr 96 cts vs 83 cts Net 119.3 mln vs 102.8 mln Revs 1.01 billion vs 869.9 mln Nine mths Shr 2.53 dlrs vs 2.01 dlrs Net 313.6 mln vs 248.5 mln Revs 2.83 billion vs 2.52 billion NOTE: 1986 nine month earnings include nonrecurring loss of 9.9 mln dlrs or eight cents a share from purchase of 123.7 mln dlrs principal amount of the companys 150 mln dlr 12-1/4 pct debentures due February 15 2015. Reuter | KELLOGG CO <K> 3RD QTR NET |
OHIO EDISON CO 3RD QTR SHR 60 CTS VS 57 CTS |
|
Great Western Financial Corp said 1987 12 month earnings will be lower than the earnings of 300.8 mln dlrs on revenues of 3.77 billion dlrs it reported for 1986. The company cited a one-time write-off of its investment in the Federal Savings and Loan Insurance Corp secondary reserve a one-time higher federal tax rate reduced loan sale volume and the effect of rising short-term rates on margins as reasons for the expected decline. In addition the company cited a net-after tax loss of 2.4 mln dlrs from its leasing operation during the 1987 nine mth period as a reason for the anticipated earnings drop. Earlier today the financial services company reported earnings of 57.8 mln dlrs for the third quarter of 1987 compared to earnings of 79.4 mln dlrs for the 1986 quarter and 1987 nine months earnings of 195.8 mln dlrs compared to 1986 earnings of 228.9 mln dlrs. Reuter | GREAT WESTERN <GWF> SEES LOWER 12 MTH EARNINGS |
Poehl says chances for exchange rate stability are good |
|
French Finance Minister Edouard Balladur has been in contact with several Finance Ministers from the Group of Seven leading industrial countries in particular West German Finance Minister Gerhard Stoltenberg to discuss the crisis on world markets Finance Ministry sources said. They did not say whether the contacts had led to concerted action on the markets or merely an exchange of views. But they added that French ministry officials were continuing the contacts to exchange views on market performance. Reuter | BALLADUR HAS HAD CONTACT WITH G-7 MINISTERS |
CITICORP 3RD QTR NET 541 MLN DLRS VS 247 MLN DLRS |
|
CITICORP 3RD QTR SHR 3.64 DLRS VS 1.64 DLRS |
|
Toyota Motor Co expects its U.S. vehicle sales in 1988 will decline to about 875000 cars and trucks from roughly 930000 expected in 1987 a senior exeuctive said. Jim Perkins group vice president for sales and marketing for Toyotas U.S. sales subsidiary told reporters Toyotas expected decline will come principally in the truck segment where the company faces intense competition from U.S. domestic manufacturers such as Ford Motor Co <F>. Toyota he said also expects to stress sales in the low and middle segments of the car market to remain competitive. Asked if Toyotas U.S. profits could show a substantial decline with its lower trucks sales in the next two years he responded conceivably it could but added Our plan is not to chase this thing to where it makes no economic sense. Perkins also predicted that the 1988 U.S. vehicle market could fall below 15 mln sales from above 15 mln expected this year. He expects some smaller Japanese automakers could be forced to withdraw from the U.S. market or to seek partnerships with one another in the face of intense competition. The Toyota executive said the collapse of U.S. stock prices and any further weakening of the dollar would likely have a very quick impact on the Japanese (car) companies. In our company when the stock market goes down we see it very soon in the New York metropolitan car market. New York is the best indicator of whats going to happen in the rest of of the country. I can tell you from the next 15 days (of car sales) in the New York market what it will be in the rest of the country in the next six months Perkins said. The Toyota executive said the panic selloff in the New York Stock Exchange hurts the car market because it does create a shock wave of doubt in the minds of consumers. He said Toyota would wait at least 30 to 60 days to assess the impact of the the stock market drop on the wider economy before making any changes in its basic business plan for the U.S. market. Toyota he said expects its 1988 U.S. sales will total at least 600000 cars and 275000 trucks compared with about 630000 cars and 300000 trucks expected for 1987 and 644000 cars and 388000 trucks sold in 1986. He said Toyota hopes it will be able to import 610000 cars from Japan in 1988 the same as its 1987 allocation under Tokyos voluntary export restraint scheme. But he said it was uncertain if Toyota would keep its current allocation becuase of pressures on Japans Ministry of International Trade and Industry to roll back Japanese car export quotas from the current 2.3 mln annualized rate. Reuter | TOYOTA <TOYO.T> SEES LOWER U.S. SALES IN 1988 |
LASMO Exploration (Canada) Ltd a subsidiary of London & Scottish Marine Oil Plc <LSML.L> is merging with <Onyx Petroleum Exploration Co Ltd> LASMO said. The merger is to be made by Onyx buying LASMO Exploration in a share swap. A new company LASMO Canada Inc will be formed. LASMO will control 70 pct of the equity worth some 76 mln Canadian dlrs based on the current Onyx share price. The new company will have proven reserves of 9.5 mln barrels of oil and 20.9 billion cubic feet of gas LASMO said. Reuter | LASMO CANADA TO MERGE WITH ONYX PETROLEUM |
Shr 31 cts vs 26 cts Net 1858000 vs 1388000 Sales 27.1 mln vs 18.7 mln Nine mths Shr 87 cts vs 76 cts Net 5126000 vs 3798000 Sales 70.6 mln vs 57.2 mln Reuter | REGAL-BELOIT CORP <RBC> 3RD QTR NET |
Wells Fargo and Co said it anticipates a modest profit for the full year 1987. For the previous full year the company posted net of 273.5 mln dlrs or 5.03 dlrs per share. The company today reported a third quarterrofit of 155 mln dlrs or 2.77 dlrs per share compared with 77.4 mln dlrs or 1.35 dlrs per share. Wells Fargo also reported a net loss of 60.4 mln dlrs or 1.43 dlrs per share in the nine months 1987 compared with net of 195.2 mln dlrs or 3.66 dlrs per share in nine months 1986. The current results includes a tax benefit from a special addition to the allowance for loan losses of 550 mln dlrs made in the second quarter. Reuter | WELLS FARGO <WFC> SEES MODEST PROFIT FOR YEAR |
<H.B. Shaine and Co Inc> of Grand Rapids Mich. ceas its broker-dealer operations at the close of Oct 19 the New York Stock Exchange said. The firm reported that under such financial difficulty it could not continue to do business as a member firm of the NYSE according to the NYSE. Officials of the company could not be reached for further comment. Reuter | H.B. SHAINE CEASES BROKER-DEALER OPERATIONS |
Aristech Chemical Corp the former chemicals subsidiary of USX Corp <X> said it expects its earnings for 1987 to exceed analysts estimates of up to 2.50 dlrs a share. Aristech earlier reported net income of 18.7 mln dlrs or 72 cts a share compared with 14.4 mln dlrs or 56 cts a share in the year-earlier period on a pro forma basis. Last year Aristech earned 43.9 mln dlrs on a pro forma basis as if the company were a stand-alone entity effective January one 1986. Reuter | ARISTECH <ARS> SEES 1987 PROFITS OVER 2.50/SHR |
Shr 21 cts vs 19 cts Net 2560000 vs 2359000 Revs 70.0 mln vs 56.0 mln Nine mths Shr 54 cts vs 42 cts Net 6574000 vs 5100000 Revs 207.7 mln vs 174.0 mln Reuter | BURNDY CORP <BDC> 3RD QTR OCT 2 NET |
Shr 72 cts vs 74 cts Net 11.9 mln vs 11.9 mln Nine mths Shr 2.18 dlrs vs 2.18 dlrs Net 35.0 mln vs 34.6 mln Assets 4.6 billion vs 4.3 billlion Loans 3.1 billion vs 2.8 billion NOTE: 1986 3rd qtr includes securities after tax gain of 1519000 dlrs or 10 cts a share. Reuter | FIRST FLORIDA BANKS <FFBK> 3RD QTR NET |
SCOTT PAPER CO 3RD QTR SHR 1.52 DLRS VS 1.02 DLRS |
|
Mthly div 7.354 cts vs 8.362 cts prior Pay Jan 10 Record Oct 30 NOTE: Freeport-McMoRan Oil and Gas Royalty Trust. Reuter | FREEPORT-MCMORAN OIL AND GAS <FMR> PAYOUT OFF |
Qtly div 17 cts vs 13 cts Pay Jan one Record Dec four Reuter | JANNOCK LTD <JN.TO> INCREASES QTLY DIVIDEND |
Josephson International Inc said it repurchased 445874 common shares yesterday under an authorization to buy back up to 500000 shares and its board has authorized the further repurchase of another 500000 shares in the open market and privately. Reuter | JOSEPHSON <JSON.O> REPURCHASES 445,874 SHARES |
Shr profit seven cts vs profit 32 cts Net profit 154398 vs profit 694521 Revs 17.7 mln vs 19.5 mln Year Shr profit 86 cts vs loss 50 cts Net profit 1862986 vs loss 1078535 Revs 78.2 mln vs 81.4 mln NOTE: 1987 year results include extraordinary credit of 459000 dlrs or 21 cts per shr due to utilization of tax loss carryforward. Fiscal 1987 nonrecurring income items totaled 4322342 vs 1393187 in 1986. Qtr 1987 includes 446000 dlrs or 20 cts per shr extraordinary charge due to duction in utilization of tax loss carryforward. Nonrecurring income items totaled 2564 in three mths 1987 vs 1211196 in three mths 1986. Nonrecurring income for year 1987 included pretax gain of 4307180 dlrs on sale of companys leasehold of Glen Oaks store on Dec 16 1986. The company discontinued operations in that unit on Jan. 17 1987. Nonrecurring income for three and 12 months 1986 included 575000 for settlement of litigation and a gain of 618719 dlrs on surrender of leaseholds. The 12 month period also included refund of prior years real estate tadxes of 136964. Reuter | J.W. MAYS INC <MAYS.O> 4TH QTR JULY 31 NET |
Shr 45 cts vs 61 cts Net 504000 vs 683000 Nine mths Shr 1.83 dlrs vs 2.42 dlrs Net 2043000 vs 2183000 Reuter | ALLIANCE FINANCIAL CORP <ALFL.O> 3RD QTR NET |
Qtr ended September 30. Shr 83 cts vs 75 cts Net 3053000 vs 2775000 Assets 1.2 billion vs 1.0 billion Deposits 851.8 mln vs 754.1 mln Loans 912.5 mln vs 798.1 mln Reuter | METROPOLITAN FEDERAL <MFTN.O> 1ST QTR NET |
Rumors circulated among the trade this morning that the USSR may have purchased between one and two mln tonnes of U.S. corn but there was no confirmation. One dealer said he felt some business had been done but that the amount probably was on the low end of trade estimates. Reuter | RUMORS THAT USSR BUYS U.S. CORN - TRADERS |
Period ended September 30. Shr 17 cts vs 10 cts Net 2.2 mln vs 1.3 mln Sales 40.6 mln vs 32.6 mln Reuter | ALTOS COMPUTER SYSTEMS <ALTO.O> 1ST QTR NET |
Shr 65 cts vs 47 cts Net 17.7 mln vs 11.9 mln Revs 131.9 mln vs 128.4 mln Nine mths Shr 1.77 dlrs vs 1.02 dlrs Net 49.0 mln vs 27.0 mln Revs 341.7 mln vs 269.5 mln Reuter | JANNOCK LTD <JN.TO> 3RD QTR NET |
Foothill Group Inc said its stock began trading Tuesday on the New York Stock Exchange under the symbol FGI. Foothills shares had been traded on the American Stock Exchange. Foothill is an independent commercial finance company which operates through two subsidiaries -- Foothill Capital Copr and Foothill Thrift and Loan. Reuter | FOOTHILL <FGI> TO TRADE ON NYSE |
Shr 40 cts vs 75 cts Qtly div 15-1/2 cts vs 15-1/2 cts prior Net 11.7 mln vs 21.4 mln Revs 447.5 mln vs 445.2 mln Nine mths Shr 1.04 dlrs vs 1.99 dlrs Net 29.9 mln vs 56.8 mln Revs 1.30 billion vs 1.28 billion NOTE: Full name is Yellow Freight System Inc. Dividend is payable November 23 record November 9. Reuter | YELLOW FREIGHT SYSTEM <YELL.O> 3RD QTR NET |
Shr 38 cts Net 1.3 mln vs 668000 Nine mths Shr 84 cts Net 2892000 vs 2200000 NOTE: Company converted to stock ownership in July Reuter | RALEIGH FEDERAL SAVINGS BANK <RFBK.O> 3RD QTR |
Shr 32 cts vs 26 cts Net 722000 vs 597000 Nine mths Shr 92 cts vs 69 cts Net 2100000 vs 1500000 NOTE: full name of company is florida employers insurance co. Reuter | FLORIDA EMPLOYERS INSURANCE <FLAEF.O> 3RD QTR |
Shr 61 cts vs 55 cts Net 726000 vs 669000 Nine mths Shr 1.78 dlrs vs 1.63 dlrs Net 2133000 vs 1960000 NOTE: Full name is First Oak Brook Bancshares Inc Reuter | FIRST OAK BROOK <FOBBA.O> 3RD QTR NET |
Qtr ends Sept 30 Shr profit seven cts vs loss two cts Net profit 228691 vs loss 54115 Revs 2415419 vs 1389579 Avg shrs 3056787 vs 2933058 Reuter | UNITED SERVICE ADVISORS INC <USVSP.O> 1ST QTR |
Gander Mountain Inc said shareholders at its annual meeting approved a doubling of authorized common shares to 10 million from five million for general corporate purposes. The company currently has an average of 2760000 common shares outstanding. It reported earnings for the first quarter ended Sept 30 of 25 cts a share on net income of 687000 dlrs up from 19 cts on 51400 dlrs in the same 1986 quarter the company said. Reuter | GANDER MOUNTAIN <GNDR.O> DOUBLES COMMON SHARES |
Shr 46 cts vs 33 cts Net 2731000 vs 1928000 Sales 66.2 mln vs 58.8 mln Nine mths Shr seven cts vs 61 cts Net 6310000 vs 3579000 Sales 171.8 mln vs 141.9 mln Reuter | WOLOHAN LUMBER CO <WLHN.O> 3RD QTR NET |
Bundesbank president Karl Otto Poehl said there were good chances for exchange rate stability. The chances for exchange rate stability are good he told reporters. Reuter | POEHL SEES GOOD CHANCES FOR CURRENCY STABILITY |
Shr 37 cts vs 41 cts Net 1214000 vs 1316000 Nine mths Shr 1.06 dlrs Net 3408000 vs 2809000 Assets 204.8 mln vs 176.6 mln Deposit 154.0 mln vs 131.2 mln Loans 125.3 mln vs 100.7 mln NOTE: 1986 nine mths per share figures not available because bank converted to stock form in June of 1986. Reuter | TAUNTON SAVINGS BANK <TSBK.O> 3RD QTR NET |
<Gordon Investment Corp> said it plans to make an offer to acquire all of Pagecorp Incs class A and Class B shares for 9.25 dlrs cash per share. The bid is conditional upon an examination by Gordon of the business and affairs of Pagecorp during the 45 days ending December 3 1987. The proposed offer would be condition upon ainimum number of shares being tendered Gordon said. It did not say what the minimum will be. Meanwhile Pagecorp said it agreed to grant Gordon an option to purchaser 900000 class A shares at 9.25 dlrs per share which is exercisable only if Gordon makes the acquisition bid before December 4 1987 or if any third party begins a takeover before December 31 1987. Pagecorp also said all Class B shareholders have agreed to deposit their class B shares if Gordon proceeds with its offer. Reuter | GORDON TO MAKE BID TO ACQUIRE PAGECORP <PGOA.TO> |
Shr profit seven cts vs loss 1.77 dlrs Net profit 446000 vs loss 9370000 Revs 15.0 mln vs 13.3 mln Six mths Shr profit eight cts vs loss 1.87 dlrs Net profit 523000 vs loss 9883000 Revs 27.1 mln vs 27.1 mln Avg shrs 5324464 vs 5324350 Note: Trillium Telephone Systems Inc Reuter | TRILLIUM TELEPHONE <TLM.TO> 2ND QTR NET |
Shr loss 39 cts vs profit 19 cts Net loss 433424 vs profit 216117 Revs 6469001 vs 8221549 Reuter | TRANS-NATIONAL LEASING INC <TNLS.O> YEAR LOSS |
The Brazilian Coffee Institute (IBC) has given shippers until close of business on Thursday to submit details of past export performance in order that individual quotas can be allocated an IBC spokesman said. He told Reuters IBC President Jorio Dauster has confirmed acceptance of National Coffee Policy Council (CNPC) proposals to establish individual export quotas based 65 pct on export performance 25 pct on stocks and 10 pct by auction. Shippers can choose their best period of 12 consecutive months between April 1 1985 and September 30 1987 to be used for calculating the export performace portion. The IBC will total all the figures calculate each shippers participation and use this as a basis for allocation of individual quotas the IBC spokesman said. He said the IBC has already settled with the Sao Paulo Mercantile Exchange how the auction system will operate. Shippers can bid a premium over the contribution quota payable on coffee exports and the succesful bidder will add this premium to the contribution quota when he submits his export sales declaration form. Auctions will not start until after the opening of export registrations. The spokesman could not say when this might be but trade sources said an announcement could come at the end of the week opening registraions from Monday. A meeting has been set for tomorrow in Brasilia of the CNPCs export marketing committee to establish a system for allocating the 25 pct of export quotas based on stock levels the spokesman added. A system of individual export quotas is being reestablished in Brazil - a previous system was abandoned in 1985 - to ensure shipments are kept in line with the countrys ICO quota. Reuter | IBC SEEKS EXPORT DETAILS TO SET COFFEE QUOTAS |
Honeywell Inc said its board of directors elected its president Dr James Renier 57 as chief executive officer to succeed Edson Spencer who will continue as chairman of the board. Reuter | HONEYWELL <HON> ELECTS NEW CHIEF EXECUTIVE |
Shr 55 cts vs 75 cts Net 218000 vs 269000 Nine mths Shr 2.15 dlrs vs 3.45 dlrs Net 855000 vs 920000 Assets 175.8 mln vs 166.9 mln Deposits 159.8 mln vs 154.3 mln Loans 155.7 mln vs 142.6 mln NOTE: 1987 nine mths includes gain 96000 dlrs or 24 cts per share from utilization of operating loss carryforward. 1986 qtr and nine mths includes gain 128000 dlrs or 36 cts per share and 445000 dlrs or 1.67 dlrs per share from utilization of operation loss carryforward. Reuter | ELMIRA SAVINGS BANK FSB <ESBK.O> 3RD QTR NET |
Period ended September 26 Shr 28 cts vs 14 cts Net 3300000 vs 1300000 Sales 24.7 mln vs 11.2 mln Avg shrs 11871751 vs 9398952 Nine mths Shr 76 cts vs 35 cts Net 9000000 vs 3200000 Sales 69.3 mln vs 32.0 mln Avg shrs 11833883 vs 9059692 Reuter | GOLDEN VALLEY MICROWAVE <GVMF.O> 3RD QTR NET |
Shr 77 cts vs nil Net 417000 vs 1000 Nine mths Shr 2.39 dlrs vs 84 cts Net 1298000 vs 443000 Assets 290.7 mln vs 296.6 mln NOTE: full name of company is home federal savings and loan association of the rockies. Reuter | HOME FEDERAL SAVINGS/ROCKIES <HROK.O> 3RD QTR |
AMOCO CORP 3RD QTR SHR 1.60 DLRS VS 68 CTS |
|
Shr 19 cts vs 38 cts Net 397000 vs 788000 Nine mths Shr 80 cts vs 1.19 dlrs Net 1674000 vs 2455000 Reuter | WESTPORT BANCORP INC <WBAT.O> 3RD QTR NET |
The European Communitys farmers pressure group Copa has urged EC farm ministers to agree a tax on vegetable proteins similar to the oils and marine fats tax which has already been proposed by the EC Commission. Copa president Hans Kjeldsen told a news conference on Tuesday he had also urged ministers to seek a similar mechanism for cereal substitutes. He was speaking after a meeting of farm leaders with the Danish foreign and agriculture ministers who currently chair meetings of their EC colleagues. Kjeldsen said taxes on the products concerned would help the ECs budget problems and would provide some price stability for producers. This would in turn help the market position for certain crops of which the EC is a net importer such as oilseeds peas and beans but for which the Commission is now proposing severe output restrictions. A minority of EC ministers opposed to an oils and fats tax on imported and domestically produced oils and marine fats succeeded in blocking the idea during this years annual EC price fixing. However the EC Commission has said it maintains its proposals for a tax. Kjeldsen said Copa had urged the ministers to pursue international negotiations on farm trade with the aim of bridging the gap between EC and world prices. Reuter | COPA URGES TAX ON VEGETABLE PROTEINS |
Allied Irish Banks Plc <ALBK.L> said it plans to open a Tokyo office. Initially it will be a representative office but the company said it hopes to have a full banking licence in about two years. REUTER | ALLIED IRISH BANKS OPENS TOKYO OFFICE |
Shr 60 cts vs 57 cts Net 103.7 mln vs 96.5 mln Revs 472.5 mln vs 434.1 mln Avg shrs 152.3 mln vs 147.0 mln 12 mths Shr 2.60 dlrs vs 2.44 dlrs Net 393.1 mln vs 347.1 mln Revs 1.79 billion vs 1.76 billion Avg shrs 150.9 mln vs 142.2 mln Reuter | OHIO EDISON CO <OEC> 3RD QTR NET |
Oper shr 71 cts vs 78 cts Oper net 42.9 mln vs 46.6 mln Revs 294.0 mln vs 274.9 mln Avg shrs 55.5 mln vs 54.0 mln Nine mths Oper shr 2.88 dlrs vs 3.07 dlrs Oper net 169.2 mln vs 181.5 mln Revs 993.4 mln vs 961.4 mln Avg shrs 55.2 mln vs 54.0 mln 12 mths Oper shr 3.67 dlrs vs 3.76 dlrs Oper net 216.2 mln vs 224.4 mln Revs 1.31 billion vs 1.26 billion Avg shrs 54.9 mln vs 53.9 mln NOTE: 1987 nine month and 12 month operating net excludes charges of 269 mln dlrs and 25 mln dlrs reflecting disallowed costs of utilitys 18 pct share of Nine Mile Point Number two nuclear power plant and the abandoned Jamesport nuclear project respectively. The charges resulted in nine month share loss of 2.44 dlrs and 12 month share loss of 1.68 dlrs. Reuter | NEW YORK STATE ELECTRIC/GAS CORP <NGE> 3RD QTR |
Shr profit 3.64 dlrs vs profit 1.64 dlrs Net profit 541 mln vs profit 247 mln Nine mths Shr loss 13.30 dlrs vs profit 5.11 dlrs Net loss 1.78 billion vs profit 752 mln NOTE: Net in nine mths 1987 vs 1986 includes provision for possible credit losses of 4.19 billion vs 1.32 billion. Net in qtr 1987 vs 1986 includes provision for possible crit losses of 320 mln vs 431 mln. Assets 200 billion vs 186 billion Loans 129.3 billion vs 122.3 billion Deposits 118.1 billion vs 111.0 billion 3rd qtr 1987 reflects previously announced aftertax gain of 163 mln from recognition of pension plan over funding and 139 mln of tax benefits from the three billion provision. Net write offs in qtr 1987 vs 1986 totaled 338 mln vs 342 mln and in year to date 1987 vs 1986 of 1.06 billion vs 988 mln. Reuter | CITICORP <CCI> 3RD QTR NET |
Sparebanken Rogaland a large Norwegian savings bank has in place a 200 mln dlr euro-certificate of deposit program First Interstate Bank of California said as arranger. Dealers for the program are First Interstate First Chicago Ltd Merrill Lynch Capital Markets and Manufacturers Hanover Ltd. First Chicago will be issuing and paying agent. REUTER | NORWAY'S SPAREBANKEN ROGALAND GETS EURO-CD PROGRAM |
Shr 42 cts vs 34 cts Net 2945000 vs 2400000 Sales 146.8 mln vs 117.2 mln Nine mths Shr 2.45 dlrs vs 2.35 dlrs Net 17280000 vs 16366000 Sales 465.6 mln vs 387.8 mln Avg shrs 7046000 vs 6961000 NOTE: 1986 data restated for changes in method of accounting for pensions Reuter | COLEMAN CO INC <CLN> 3RD QTR NET |
Minneapolis investor Irwin Jacobs said he sold the stake he held in Gillette Co <GS> after deciding that he could not force Gillette to accept a 47 dlr a share takeover bid made by Revlon Group Inc <REV>. Revlons bid expired last week after being repeatedly rejected by Gillette. Jacobs had earlier considered waging a proxy fight over Gillette. Jacobs told Reuters he sold the Gillette stake which he called substantial but under five pct a few weeks ago over a period of several days. He said he sold the stock at a profit but did not disclose the selling price. Gillettes stock was at 24-1/8 up 1/8 in morning trade off the high of 45-7/8 reached after Revlon announced its bid. Jacobs said he sold his Gillette stake based on an investment decision. I surely did not see this happening he said of Mondays stock market free-fall. A Gillette spokesman said the mpany had no comment. Jacobs said he and fellow investor Carl Pohlad continue to hold a stake in Allegheny International Inc <AG>. In August they disclosed in a Securities and Exchange Commission filing that they had acquired 854900 shares or 7.9 pct of Allegheny and would consideer seeking control of the company. Reuter | JACOBS SELLS STAKE IN GILLETTE <GS> |
MARTIN MARIETTA SAID IT EXPECTS TO AWARD HERCULES 500 MLN DLR ROCKET MOTOR CONTRACT |
|
Transamerica Corps Transamerica Insurance Co said it signed a definitive pact to buy a 51 pct interest in Sedgwick Group PLCs River Thames Insurance Co. Transamerica will buy 11 mln newly issued Class A shares of River Thames for 2.23 dlrs per share. Sedgwick wil retain a 49 pct interest in River Thames which is a property liability reinsurer. The agreement subject to shareholder approval is expected to close by the end of the year the company said. In 1986 River Thames reported net premiums written of 36 mln dlrs. Reuter | TRANSAMERICA <TA> TO BUY SEDGWICK <SDWK.L> UNIT |
FANNIE MAE RAISES 3RD QTR DIVIDEND TO 12 CTS PER SHR FROM EIGHT CTS |
|
Shr 16 cts vs 17 cts Net 988000 vs 1005000 Revs 19.7 mln vs 16.4 mln Avg shrs 6206487 vs 5959028 Six Mths Shr 31 cts vs 28 cts Net 1884000 vs 1662000 Revs 37.5 mln vs 30.8 mln Avg shrs 6168105 vs 5950842 Reuter | INTERMEC CORP <INTR.O> 2ND QTR SEPT 30 NET |
Shr 30 cts vs 73 cts Net 3992000 vs 852600 Nine Mths Shr 1.72 dlrs vs 1.74 dlrs Net 22110000 vs 20379000 Avg shrs 13459000 vs 11740000 Note: Prior nine month figures include extraordinary after-tax loss of 10.9 mln dlrs or 93 cts per share. Reuter | HOMESTEAD FINANCIAL CORP <HFL> 3RD QTR NET |
The American Stock Exchange said market volatility may result in inaccurate price quotations on certain vendor price machines. The Exchange said this volatility has resulted in digits being deleted from certain vendor machines. Reuter | AMEX ISSUES WARNING ON VENDOR PRICE QUOTES |
The Kansas City Board of Trade said it has halted trading in Value Line stock index futures. The exchange said the move follows the halt in trading in futures futures-options and options at several other exchanges because many of the underlying stocks that make up the indexes have stopped trading. The exchange said trading would resume pending action by the other exchanges. Reuter | KCBT HALTS TRADING IN VALUE LINE STOCK FUTURES |
Oakwood Homes Corp said it was beginning a stock repurchase program under which it may purchase up to 400000 shares or about seven pct of its common stock. Oakwood said purchase will be made from time to time as conditions permit on the open market and in privately negotiated transactions. Reuter | OAKWOOD HOMES <OH> BEGINS STOCK REPURCHASE |
Audio/Video Affiliates Inc said it has authorized the purchase of up to 2.5 mln shares of its common stock in market transactions from time to time. The company said the purchases were authorized because it believes the market price of the stock is less than its underlying value. Audio/Video said general funds of the company will be used to purchase the shares and all shares will be held in the companys treasury for possible future use. Reuter | AUDIO/VIDEO AFFILIATES <AVA> TO PURCHASE SHARES |
Global Petroleum Corp said it had raised the contract prices for heavy fuel oil from 25 cts to one dlr per barrel effective today. The company said 0.3 pct fuel oil is up one dlr a barrel to 22.25 dlrs a barrel. They said 0.5 pct fuel oil is up by 50 cts to 21.95 dlrs a barrel. Global raised one pct fuel oil by 35 cts to 20.25 dlrs a barrel. The company raised 2.2 pct fuel by 25 cts to 19.50 dlrs a barrel. Global raised 2.5 pct fuel oil by 45 cts to 19.45 dlrs a barrel. Reuter | GLOBAL PETROLEUM <GNR> UPS HEAVY FUEL PRICES |
Shr 17 cts vs 15 cts Net 565000 vs 502000 Revs 20.0 mln vs 14.5 mln Note: Current qtr figures include tax loss carryforward credit of 194000 dlrs vs credit of 197000 dlrs. Reuter | SILVERCREST CORP <SLV> 1ST QTR SEPT 30 NET |
NYSE SAID NY FUTURES EXCHANGE IS CLOSED AFTER OTHER US INDEX PRODUCTS CLOSE |
|
Donald Regan President Reagans former chief of staff said the government should loosen the money supply try to keep interest rates down and try to reduce the federal budget and trade deficits to avoid a recession. I think what we have to face now is trying to preserve our economy the one-time chairman of Merrill Lynch and Co Inc <MER> said in an interview on the ABC television network. Weve got to loosen money weve got to keep interest rates down. We cant afford to let them go up. That means were going to have to work on our twin deficits both the budget deficit and the trade deficit Regan said. I certainly wouldnt tighten money at this particular moment Regan said when asked about the prospects for a recession following Mondays price drop on Wall Street. I think that if they were to do that theyd create the same conditions that we did in 29...They choked off the money supply and what happened? We went into a major recession. I think thats the one thing weve got to avoid right now. Regan also called on the government to impose restrictions on program trading. I think that thats exacerbated exaggerated this decline and I think its something that they must stop he said. Reuter | DONALD REGAN SAYS U.S. SHOULD EASE CREDIT SUPPLY |
USX Corp said it has authorized the repurchase of up to 20 mln shares of common stock. This action has been under study and consideration since we announced our financial restructuring earlier this year said chairman David Roderick. It reflects the very strong financial position of the corporation and enables us to take advantage of current market conditions he said. The company said timing of the repurchase will be dictated by market conditions. Reuter | USX <USX> TO BUY BACK UP TO 20 MLN SHARES |
The Canadian unit of General Motors Corp and the union representing its 40000 workers remain far apart over local issues in contract talks two days from a threatened strike a union spokesman said. The deepest divisions appeared to be between General Motors of Canada Ltd and the Canadian Auto Workers local representing 17000 workers at an assembly plant in Oshawa Ontario union spokesman Wendy Cuthbertson said. Local 222 is miles apart said Cuthbertson. The local assembles full-size pick-up trucks the Buick Regal and the Pontiac 6000. Local issues there included shift schedules transfers and working conditions union president Bob White said. The union has threatened to strike at 1000 hrs EDT (1400 gmt) on Thursday unless it has reached a tentative settlement with the automaker by then. Bargaining was scheduled to continue late into the night Tuesday in an effort to avert a walkout said Cuthbertson. On Monday the union accepted an economic offer from GM Canada that largely matched the pay-and-benefit pattern reached earlier at Chrysler and Ford in Canada. Reuter | GM CANADA, WORKERS FAR APART IN TALKS - UNION |
Shr 41 cts vs 80 cts Net 40.3 mln vs 78.9 mln Nine mths Shr 1.58 dlrs vs 2.40 dlrs Net 155.0 mln vs 223.3 mln Avg shrs 98353350 vs 92967487 Assets 27.48 billion vs 27.60 billion Loans 22.75 billion vs 19.00 billion Deposits 21.45 billion vs 21.31 billion Reuter | H.F. AHMANSON AND CO <AHM> 3RD QTR NET |
VF Corp said it increased its quarterly cash dividend to 21 cts per share from 18 cts a share. The company said the dividend is payable December 18 to shareholders of record December eight. Reuter | VF CORP <VFC> BOOSTS DIVIDEND |
Shr 50 cts vs 37 cts Net 16.1 mln vs 9390000 Revs 168.1 mln vs 111.3 mln Avg shrs 12.5 mln vs 11.6 mln Nine mths Shr 1.31 dlrs vs 86 cts Net 16.1 mln vs 9390000 Revs 445.8 mln vs 244.6 mln Avg shrs 12.4 mln vs 10.9 mln Reuter | JWP INC <JWP> 3RD QTR NET |
Shr 32 cts vs not given Net 1041000 vs 43000 Nine mths Shr 1.09 dlrs vs not given Net 3586000 vs 764000 NOTE: Company went public in October 1986. Reuter | PEOPLES SAVINGS BANK <PEBW.O> 3RD QTR NET |
Qtlry div 20 cts vs 18 cts prior Pay Nov 20 Record Oct 30 Reuter | SUSQUEHANNA BANCSHARES INC <SUSQ.O> HIKES DIVI |
TW SERVICES INC REPORTS THIRD QTR PER SHARE OF 38 CTS VS 28 CTS. |
|
Prime Computer Inc said it will periodically repurchase an unspecified number of its common stock on the open market. The company has 49.1 mln shares outstanding. It said it stock will be bought in periods of price weakness and that the stock will be used for the companys restricted stock and employee stock purchase plans and for other corporate purposes. Reuter | PRIME COMPUTER <PRM> TO BUY BACK STOCK |
Shr profit three cts vs profit 36 cts Net profit 1800000 vs profit 19.2 mln Nine mths Shr profit 1.22 dlrs vs loss 44 cts Net 64.7 mln vs loss 23.5 mln NOTE: 1986 3rd qtr and nine months includes a profit of 2.8 mln dlrs and a loss of 66.7 mln dlrs from discontinued operations. Earnings per share are reported after payment of preferred stock dividends of subsidiaries. Reuter | TEXAS EASTERN CORP <TET> 3RD QTR NET |
Phillips Petroleum Corp said it raised the contract price it will pay for all grades of crude oil by 50 cts a barrel effective Oct 16. The increase brings the companys postings for the West Texas Intermediate and West Texas Sour grades to 19.00 dlrs a barrel. Phillips last changed it crude oil postings on Sept 9. Reuter | PHILLIPS <P> RAISES CRUDE OIL PRICES |
Shr 31 cts vs 26 cts Net 3308000 vs 1512000 Revs 6467000 vs 2590000 Avg shrs 10.7 mln vs 5788594 Nine mths Shr 1.32 dlrs vs 1.17 dlrs Net 10.2 mln vs 3041000 Revs 18.7 mln vs 5682000 Avg shrs 10.7 mln vs 3780626 Reuter | MEDITRUST SBI <MT> 3RD QTR NET |
Net profit and sales for the Pirelli groups worldwide activities should both grow well in 1987 said Jacopo Vittorelli chief executive of Societe Internationale Pirelli SA <PIRI.Z>. Sales rose 17.5 pct to 2.75 billion dlrs in the first half of 1987 and Vittorelli told reporters they were likely to show the same percentage growth for the year as a whole. However he declined to predict the likely growth in net profit for the year. It rose by 31.7 pct to 80.6 mln dlrs in the first six months. In 1986 group net profit was 141.0 mln dlrs up from 101.5 mln the year before. Reuter | PIRELLI SEES RISE IN 1987 GROUP PROFITS, SALES |