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test/17633 | test/17633 |@title portuguese:1 unemployment:1 steady:1 first:1 quarter:1 |@word unemployment:2 portugal:1 hold:1 steady:1 9:1 6:1 pct:2 first:3 quarter:4 1987:1 rate:1 last:1 1986:2 national:1 statistics:1 institute:1 say:1 compare:1 11:1 1:1 total:1 number:1 register:1 unemployed:1 year:1 437:1 500:1 | PORTUGUESE UNEMPLOYMENT STEADY IN FIRST QUARTER
Unemployment in Portugal held steady at
9.6 pct in the first quarter of 1987 after the same rate in the
last quarter of 1986, the National Statistics Institute said.
This compared with 11.1 pct unemployment in the first
quarter of 1986.
The total number of registered unemployed in the first
quarter of this year was 437,500.
|
test/17640 | test/17640 |@title partnership:1 hbo:1 hboc:1 stake:1 8:1 7:1 pct:1 |@word andover:1 group:2 great:1 falls:1 va:1 investment:1 partnership:2 seek:2 control:1 hbo:3 co:1 say:3 raise:1 stake:1 company:2 2:1 026:1 000:3 share:3 8:1 7:2 pct:2 total:1 1:1 626:1 0:1 filing:1 securities:1 exchange:1 commission:1 buy:1 400:1 common:1 5:1 4:1 mln:1 dlrs:1 may:1 28:1 slate:1 candidate:1 board:1 seat:1 would:1 decide:1 whether:1 submit:1 offer:1 acquire:1 annual:1 shareholder:1 meeting:1 april:1 30:1 postpone:1 | PARTNERSHIP UPS HBO <HBOC.O> STAKE TO 8.7 PCT
Andover Group, a Great Falls, Va.,
investment partnership that is seeking control of HBO and Co,
said it raised its stake in the company to 2,026,000 shares, or
8.7 pct of the total, from 1,626,000 shares, or 7.0 pct.
In a filing with the Securities and Exchange Commission,
the partnership said it bought 400,000 HBO common shares for
5.4 mln dlrs on May 28.
The group, which has a slate of candidates seeking board
seats, said it would decide whether to submit an offer to
acquire the company after the HBO annual shareholders meeting,
which was to have been April 30, but was postponed.
|
test/17643 | test/17643 |@title humana:1 hum:1 buy:1 int:1 l:1 medical:1 asset:1 |@word humana:2 inc:1 say:2 florida:1 judge:1 approve:1 previously:1 announce:1 proposal:1 company:1 buy:1 certain:1 asset:1 international:1 medical:1 center:1 declare:1 insolvent:1 put:1 receivership:1 early:1 may:1 pay:2 40:1 mln:2 dlrs:2 state:1 department:1 insurance:1 prior:1 claim:1 20:1 work:1 capital:1 | HUMANA <HUM> TO BUY INT'L MEDICAL ASSETS
Humana Inc said a Florida Judge
approved a previously announced proposal for the company to buy
certain assets of International Medical Centers, which had been
declared insolvent and put into receivership in early May.
Humana said it will pay 40 mln dlrs to the state's
Department of Insurance to pay prior claims and 20 mln dlrs in
working capital.
|
test/17644 | test/17644 |@title diversify:1 industry:1 dmc:1 sell:1 unit:1 |@word diversify:3 industries:1 inc:2 plan:1 recover:1 four:1 mln:2 dlrs:2 sale:1 two:2 marginal:2 subsidiary:1 chairman:1 ben:1 fixman:2 tell:1 annual:1 meeting:1 say:3 industry:1 part:1 effort:1 redeploy:1 asset:1 want:1 sell:1 theodore:1 sall:1 liberty:1 smelting:1 work:1 1962:1 ltd:1 unit:1 either:1 lose:1 money:1 profitability:1 recent:1 year:1 also:1 process:1 obtain:1 six:1 industrial:1 revenue:1 bond:1 financing:1 state:1 connecticut:1 modernize:1 company:1 plume:1 atwood:1 brass:1 mill:1 plant:1 thomaston:1 conn:1 | DIVERSIFIED INDUSTRIES (DMC) TO SELL UNITS
Diversified Industries Inc plans to
recover more than four mln dlrs from the sale of two marginal
subsidiaries, chairman Ben Fixman told the annual meeting.
Fixman said Diversified Industries, as part of its effort
to redeploy assets, wants to sell its Theodore Sall Inc and
Liberty Smelting Works (1962) Ltd units. The two either lost
money or had marginal profitability in recent years, he said.
Diversified also said it is in the process of obtaining six
mln dlrs in an industrial revenue bond financing from the State
of Connecticut to modernize the company's Plume and Atwood
Brass Mill plant in Thomaston, Conn.
|
test/17651 | test/17651 |@title insurance:1 firm:1 piezo:1 pepi:1 preferred:1 stake:1 |@word corporate:2 life:1 insurance:3 co:1 west:1 chester:1 pa:1 firm:1 tell:1 securities:1 exchange:1 commission:1 acquire:1 44:1 600:1 share:1 prefer:2 stock:2 piezo:1 electric:1 products:1 inc:1 10:1 8:1 pct:1 total:1 say:1 buy:1 cumulative:1 convertible:1 stake:1 199:1 690:1 dlrs:1 investment:1 purpose:1 | INSURANCE FIRM AS PIEZO <PEPI.O> PREFERRED STAKE
Corporate Life Insurance Co, a West
Chester, Pa., insurance firm, told the Securities and Exchange
Commission it has acquired 44,600 shares of preferred stock in
Piezo Electric Products Inc, or 10.8 pct of the total.
Corporate insurance said it bought the cumulative
convertible preferred stock stake for 199,690 dlrs for
investment purposes.
|
test/17652 | test/17652 |@title cellular:1 inc:1 cel:1 sell:1 unit:1 take:1 gain:1 |@word cellular:4 inc:3 say:2 reach:1 definitive:1 agreement:1 sell:1 asset:1 wholly:1 michigan:2 century:1 telephone:1 enterprises:1 ctl:1 add:1 28:1 ct:1 share:1 year:1 earning:1 result:1 sale:1 subject:1 regulatory:1 approval:1 represent:1 capital:1 gain:1 excess:1 800:1 000:1 dlrs:1 original:1 price:1 pay:1 interest:1 acquire:1 december:1 1986:1 | CELLULAR INC <CELS.O> TO SELL UNIT, TAKE GAIN
Cellular Inc said it reached a definitive
agreement to sell assets of its wholly owned Michigan Cellular
Inc to Century Telephone Enterprises Inc <CTL> and add 28 cts a
share to the year's earnings as a result.
It said the sale, subject to regulatory approval,
represents a capital gain in excess of 800,000 dlrs over the
original price paid by Cellular for its cellular interests in
Michigan, acquired in December 1986.
|
test/17654 | test/17654 |@title little:1 reaction:1 comex:1 price:1 limit:1 removal:1 |@word elimination:3 price:7 limit:8 precious:1 metal:3 contract:6 trading:4 commodity:1 exchange:1 new:1 york:1 appear:1 little:1 effect:1 market:7 analyst:2 say:8 nothing:1 apparent:1 change:1 william:1 neill:4 director:1 future:7 research:1 elders:1 futures:1 inc:1 approach:2 old:1 relative:1 quiet:2 narrow:1 range:1 add:2 gold:1 previously:1 25:1 dlrs:3 move:4 back:3 month:2 7:1 00:1 weak:2 nearby:2 amid:2 thin:1 condition:1 trader:2 may:1 5:1 comex:3 away:1 two:1 follow:1 spot:2 volatile:1 silver:3 end:1 april:2 cause:2 severe:1 disruption:1 last:1 week:1 trade:4 rush:1 offset:1 result:1 elder:2 much:1 confusion:1 many:1 unmatched:2 large:2 loss:1 fine:1 three:1 firm:1 total:1 100:1 000:1 failure:1 resolve:1 timely:1 manner:1 30:1 40:1 ct:1 today:1 would:1 caution:1 since:1 could:1 distance:1 amore:1 realistic:1 24:1 hour:1 without:1 paul:1 cain:1 vice:1 president:1 shearson:1 lehman:1 brothers:1 cut:1 panic:1 buying:1 selling:1 contribute:1 orderly:1 | LITTLE REACTION TO COMEX PRICE LIMIT REMOVAL
The elimination of price limits on
precious metals contracts trading at the Commodity Exchange in
New York appears to be having little effect on the market,
analysts said.
'There is nothing apparent from the change,' said William
O'Neill, director of futures research at Elders Futures Inc.
'The market has not approached the old price limits and trading
is relative quiet, in narrow ranges,' he added.
Gold futures, which previously had a limit of 25 dlrs on
market moves in most back months, were about 7.00 dlrs weaker
in the nearby contracts amid thin conditions, traders said.
On May 5, COMEX did away with price limits on the two
contracts following spot after a volatile market in silver
futures at the end of April caused severe disruptions.
During the last week of April, silver futures traded up and
down the price limit in the back months, causing traders to
rush into the spot contract to offset those moves, analysts
said. As a result, Elders' O'Neill said, there was much
confusion, many unmatched trades, and large losses.
The COMEX fined Elders Futures and three other large firms
a total of 100,000 dlrs for failure to resolve unmatched trades
in a timely manner.
Silver futures were trading about 30-40 cts weaker in the
nearby contracts amid quiet trading today.
O'Neill said the elimination of price limits on all COMEX
metals futures would add caution to trading since all contracts
could move any distance.
'This is amore realistic approach because the metals market
is a 24 hours market and prices can move without limit,'
O'Neill said.
Paul Cain, a vice president at Shearson Lehman Brothers,
said the elimination of price limits will cut back on panic
buying or selling and contribute to more orderly markets.
|
test/17655 | test/17655 |@title comptek:1 research:1 inc:1 cmtk:1 4th:1 qtr:1 march:1 31:1 |@word shr:2 17:1 ct:4 vs:6 four:1 net:2 373:1 000:5 82:1 sale:2 10:1 1:1 mln:3 7:1 825:1 year:1 45:1 27:1 981:1 595:1 34:1 5:2 28:1 | COMPTEK RESEARCH INC <CMTK.O> 4TH QTR MARCH 31
Shr 17 cts vs four cts
Net 373,000 vs 82,000
Sales 10.1 mln vs 7,825,000
Year
Shr 45 cts vs 27 cts
Net 981,000 vs 595,000
Sales 34.5 mln vs 28.5 mln
|
test/17658 | test/17658 |@title u:1 gulf:1 mexico:1 rig:1 count:1 climb:1 38:1 9:1 pct:1 |@word utilization:4 offshore:4 mobile:1 rig:7 gulf:2 mexico:2 climb:1 2:2 1:3 pct:8 last:2 week:2 38:1 9:1 reflect:2 total:2 91:1 work:2 datum:3 service:3 say:3 one:2 year:2 ago:2 rate:3 32:1 5:1 drilling:1 contractor:1 report:1 recent:1 increase:2 000:3 dlrs:2 day:2 large:1 jackup:1 command:1 11:1 12:1 european:1 mediterranean:1 area:1 rise:2 0:1 6:2 53:1 67:1 3:1 worldwide:2 57:1 7:1 net:1 eight:1 419:1 use:1 307:1 idle:1 | U.S. GULF OF MEXICO RIG COUNT CLIMBS TO 38.9 PCT
Utilization of offshore mobile rigs in
the Gulf of Mexico climbed by 2.1 pct last week to 38.9 pct,
reflecting a total of 91 working rigs, Offshore Data Services
said.
One year ago, the Gulf of Mexico utilization rate was 32.5
pct. Offshore Data Services said some drilling contractors had
reported recent increases of about 1,000 dlrs a day on large
jackup rigs, which now command rates of 11,000 to 12,000 dlrs a
day.
In the European/Mediterranean area the rig utilization rate
rose 0.6 pct to 53.6 pct, against 67.3 pct one year ago.
Worldwide rig utilization rose by 1.2 pct to 57.7 pct,
reflecting a net increase of eight working rigs. Offshore Data
Services said a total of 419 rigs were in use worldwide and 307
were idled last week.
|
test/17659 | test/17659 |@title dotronix:1 dotx:1 complete:1 acquisition:1 |@word dotronix:1 inc:2 say:1 complete:1 acquisition:1 video:4 monitors:1 3:1 92:1 mln:1 dlrs:1 monitor:2 privately:1 wisconsin:1 base:1 manufacturer:1 display:1 device:1 | DOTRONIX <DOTX.O> COMPLETES ACQUISITION
Dotronix Inc said it completed
the acquisition of Video Monitors Inc for 3.92 mln dlrs.
Video Monitors is a privately-owned Wisconsin-based
manufacturer of video display and and video monitor devices.
|
test/17660 | test/17660 |@title dataflex:1 corp:1 dflx:1 4th:1 qtr:1 march:1 31:1 net:1 |@word shr:2 11:1 ct:4 vs:6 eight:1 net:2 248:1 000:7 155:1 revs:1 4:1 385:1 2:2 487:1 year:1 36:1 12:1 720:1 220:1 rev:1 15:1 mln:1 9:1 253:1 note:1 share:1 adjust:1 10:1 pct:1 stock:1 dividend:1 april:1 1987:1 | DATAFLEX CORP <DFLX.O> 4TH QTR MARCH 31 NET
Shr 11 cts vs eight cts
Net 248,000 vs 155,000
Revs 4,385,000 vs 2,487,000
Year
Shr 36 cts vs 12 cts
Net 720,000 vs 220,000
Revs 15.2 mln vs 9,253,000
NOTE: Share adjusted for 10 pct stock dividend in April
1987.
|
test/17661 | test/17661 |@title polydex:1 pharmaceuticals:1 ltd:1 polxf:1 1st:1 qtr:1 |@word april:1 30:1 end:1 shr:1 loss:4 one:1 ct:2 vs:3 two:1 net:1 83:1 116:1 266:1 037:1 sale:1 1:2 393:1 455:1 035:1 500:1 | POLYDEX PHARMACEUTICALS LTD <POLXF.O> 1ST QTR
April 30 end
Shr loss one ct vs loss two cts
Net loss 83,116 vs loss 266,037
Sales 1,393,455 vs 1,035,500
|
test/17662 | test/17662 |@title onic:1 tender:1 wednesday:1 wheat:1 pakistan:1 |@word french:2 cereal:1 intervention:1 board:1 onic:3 tender:2 wednesday:1 20:1 000:2 tonne:2 soft:2 wheat:2 pakistan:1 food:2 aid:2 programme:2 official:2 say:2 grain:1 ship:1 june:2 15:2 july:1 also:1 hold:1 9:1 65:1 european:1 community:1 shipment:1 bulk:1 august:1 | ONIC TENDERS WEDNESDAY FOR WHEAT FOR PAKISTAN
The French Cereals Intervention Board
(ONIC) will tender Wednesday for 20,000 tonnes soft wheat for
Pakistan under the French food aid programme, an ONIC official
said.
The grain will be shipped between June 15 and July 15.
ONIC also will hold a tender June 9 for 65,000 tonnes soft
wheat under the European Community food aid programme, for
shipment in bulk during August, the official said.
|
test/17664 | test/17664 |@title french:1 aid:1 togo:1 help:1 coffee:1 cocoa:1 tree:1 |@word france:1 provide:1 togo:1 475:1 mln:1 cfa:1 franc:1 aid:1 range:1 project:1 include:1 development:1 coffee:1 cocoa:1 industry:1 reafforestation:1 south:1 country:1 official:1 source:1 say:1 | FRENCH AID TO TOGO TO HELP COFFEE, COCOA TREES
France is to provide Togo with 475 mln cfa
francs of aid for a range of projects that include development
of the coffee and cocoa industries and reafforestation in the
south of the country, official sources said.
|
test/17666 | test/17666 |@title clark:1 copy:1 buy:1 norwegian:1 firm:1 |@word clark:3 copy:3 international:1 corp:1 say:3 buy:1 norwegian:3 draft:1 machine:1 company:1 three:1 mln:2 u:1 dlrs:2 majority:1 subsidiary:1 interactive:1 computer:1 aids:1 co:1 norway:1 purchase:1 kongsberg:3 drafting:2 system:1 division:1 state:1 vappenfabrikk:1 annual:1 worldwide:1 sale:1 15:1 | (CLARK COPY) BUYS NORWEGIAN FIRM
Clark Copy International
Corp said it bought a Norwegian drafting machines company for
three mln U.S. dlrs.
Clark Copy said its majority-owned Norwegian subsidiary,
Interactive Computer Aids Co of Norway, purchased Kongsberg
Drafting Systems, a division of Norwegian state-owned Kongsberg
Vappenfabrikk.
Kongsberg Drafting's annual worldwide sales are about 15
mln dlrs, Clark Copy said.
|
test/17669 | test/17669 |@title baker:1 hughes:1 bhi:1 u:1 rig:1 count:1 fall:1 758:1 |@word u:1 drilling:1 rig:7 count:2 fall:1 four:1 last:3 week:1 total:2 758:2 723:1 work:4 time:1 year:2 baker:2 hughes:2 inc:1 say:2 canada:1 weekly:1 rise:2 19:1 100:1 compare:1 46:1 among:1 individual:1 state:1 steep:1 decline:1 oklahoma:1 louisiana:1 lose:1 eight:1 seven:1 respectively:1 drill:1 increase:1 report:1 michigan:1 five:1 ohio:1 pennsylvania:1 three:1 united:1 states:1 include:1 84:1 offshore:1 water:1 | BAKER HUGHES' <BHI> U.S. RIG COUNT FALLS TO 758
The U.S. drilling rig count fell by four
last week to a total of 758, against 723 working rigs at this
time last year, Baker Hughes Inc said.
In Canada, the weekly rig count rose 19 to 100, compared to
46 working rigs last year.
Among individual states, the steepest declines were in
Oklahoma and Louisiana which lost eight and seven,
respectively. Drilling increases were reported by Michigan, up
by five rigs, and Ohio and Pennsylvania which each rose by
three. Baker Hughes said the total of 758 working rigs in the
United States included 84 rigs working in offshore waters.
|
test/17670 | test/17670 |@title u:1 trade:1 bill:1 dangerous:1 canada:1 lobby:1 |@word trade:2 bill:6 united:1 states:1 house:3 representatives:2 dangerous:1 canadian:12 industry:8 forest:4 council:2 chairman:1 adam:1 zimmerman:6 tell:2 reporter:1 change:1 definition:1 subsidy:4 u:7 countervail:3 duty:3 law:1 3:1 remove:1 protection:1 company:1 take:1 advantage:1 widely:1 use:1 government:2 program:1 medium:1 brief:1 clearly:1 grant:1 right:1 fish:1 mine:1 cut:1 timber:1 produce:1 power:1 could:1 vulnerable:2 finding:1 language:1 say:5 lobby:3 also:1 representative:1 would:5 adopt:1 new:2 way:1 measure:1 greatly:1 increase:1 size:1 may:1 impose:2 resource:5 export:2 difference:1 price:3 world:1 market:1 constitute:1 method:1 make:1 similar:1 penalty:1 like:1 15:1 pct:1 tax:2 last:1 january:1 shipment:1 softwood:2 lumber:2 add:2 negotiator:1 agree:1 levy:1 drop:1 request:1 import:1 represent:1 first:1 victim:1 move:1 country:1 natural:1 accord:1 system:1 example:1 better:1 watch:1 plan:1 discuss:1 concern:1 group:1 | U.S. TRADE BILL VERY DANGEROUS FOR CANADA, LOBBY
A trade bill before the United States
House of Representatives 'is a very dangerous bill for Canadian
industry,' Canadian Forest Industry Council chairman Adam
Zimmerman told reporters.
By changing the definition of subsidy under U.S.
countervailing duty law, House of Representatives Bill 3
removes protection for companies that take advantage of widely
used government programs, Zimmerman told a media briefing.
'Clearly, any industry to which Canadian governments grant
rights to fish, mine, cut timber, or produce power could be
vulnerable to a finding of a subsidy under this language,' he
said.
The Canadian forest lobby's Zimmerman also said the House
of Representative Bill would adopt a new way of measuring
subsidies that would greatly increase the size of any
countervailing duties that might be imposed on Canadian
resource exports to the U.S.
Under the bill, any difference between Canadian prices and
U.S. or world market prices would constitute a subsidy, he
said. Such a method would make Canadian resource industries
vulnerable to similar penalties like a 15 pct export tax
imposed last January on shipments of Canadian softwood lumber
to the U.S., Zimmerman added.
Canadian negotiators agreed to levy the new tax if a U.S.
forest industry lobby would drop its request for a countervail
duty on imports of Canadian softwood lumber.
'We represent the first victim of the move to price other
countries' natural resources according to the U.S. system,'
Zimmerman said.
'If we're an example, than other resource industries had
better watch out,' he added.
Zimmerman said the Canadian Forest Industry Council plans
to discuss concerns about the U.S. trade bill with lobby groups
from other Canadian resource industries.
|
test/17671 | test/17671 |@title society:1 savings:1 socs:1 form:1 hold:1 company:1 |@word society:2 saving:1 say:1 complete:1 merger:1 newly:1 form:1 hold:1 company:1 savings:1 bancorp:1 inc:1 share:2 basis:1 | SOCIETY/SAVINGS <SOCS.O> FORMS HOLDING COMPANY
Society for Savings said it has
completed a merger into newly formed holding company Society
for Savings Bancorp Inc on a share-for-share basis.
|
test/17672 | test/17672 |@title geodyne:1 resources:1 inc:1 geod:1 4th:1 qtr:1 feb:1 28:1 |@word shr:2 profit:6 three:1 ct:4 vs:10 31:1 net:2 330:1 575:1 1:2 4:3 73:1 100:1 rev:1 501:1 996:1 2:1 602:1 568:1 avg:2 shrs:2 10:1 964:1 786:1 446:2 958:2 year:2 loss:2 eight:1 six:1 91:1 523:1 746:1 289:1 revs:1 3:1 854:1 821:1 5:1 231:1 598:1 6:1 091:1 334:1 note:1 share:1 result:1 prefer:1 dividend:1 requirement:1 44:1 174:1 dlrs:4 99:1 901:1 quarter:1 377:1 111:1 480:1 851:1 company:1 40:1 pct:1 painwebber:1 group:1 inc:1 pwj:1 | GEODYNE RESOURCES INC <GEOD.O> 4TH QTR FEB 28
Shr profit three cts vs profit 31 cts
Net profit 330,;575 vs profit 1,4;73,100
Revs 1,501,996 vs 2,602,568
Avg shrs 10,964,786 vs 4,446,958
Year
Shr loss eight cts vs profit six cts
Net loss 91,523 vs profit 746,289
Revs 3,854,821 vs 5,231,598
Avg shrs 6,091,334 vs 4,446,958
NOTE: Share results after preferred dividend requirements
of 44,174 dlrs vs 99,901 dlrs in quarter and 377,111 dlrs vs
480,851 dlrs in year
Company 40 pct owned by PainWebber Group Inc <PWJ>
|
test/17673 | test/17673 |@title ladd:2 furniture:1 ladf:1 complete:1 acquisition:1 |@word furniture:2 inc:2 say:1 complete:1 previously:1 announce:1 acquisition:1 privately:1 hold:1 colony:1 house:1 undisclosed:1 amount:1 cash:1 note:1 | LADD FURNITURE <LADF.O> COMPLETES ACQUISITION
LADD Furniture Inc said it has
completed the previously-announced acquisition of
privately-held Colony House Furniture Inc for an undisclosed
amount of cash and notes.
|
test/17674 | test/17674 |@title ec:1 minister:1 consider:1 cutback:1 steel:1 support:1 |@word new:1 steel:4 quota:3 system:3 would:3 strictly:1 limit:2 european:1 community:1 ec:7 support:1 industry:4 could:1 force:2 producer:2 fail:1 find:1 solution:2 quickly:1 official:1 say:3 minister:3 meeting:1 consider:1 two:1 key:1 proposal:3 aim:1 cut:1 back:1 surplus:1 capacity:1 30:1 mln:1 tonne:1 1990:1 first:1 current:1 protect:1 output:1 seven:1 year:1 flat:1 product:2 heavy:1 section:1 thereby:1 type:1 free:1 market:1 competition:1 second:1 link:1 continuation:1 progress:1 toward:1 plant:2 closure:1 although:1 less:1 month:1 ago:1 steelmaker:1 lobby:1 group:1 eurofer:1 abandon:1 effort:1 close:1 voluntarily:1 stop:1 short:1 impose:1 immediately:1 instead:1 urge:1 try:1 reach:2 agreement:1 voluntary:1 cutback:1 commission:1 come:1 detailed:1 july:1 future:1 meet:1 september:1 final:1 decision:1 | EC MINISTERS CONSIDER CUTBACKS IN STEEL SUPPORT
A new steel quota system that would
strictly limit European Community (EC) support to the industry
could be forced on producers if they fail to find their own
solution quickly, officials said.
EC industry ministers meeting here considered two key
proposals aimed at cutting back surplus capacity by 30 mln
tonnes by 1990.
The first would limit the current quota system, which has
protected EC output for seven years, only to flat products and
heavy sections, thereby forcing other types of steel products
into free market competition.
The second proposal would link continuation of a quota
system with progress toward plant closures, although less than
a month ago the EC steelmakers' lobby group Eurofer said they
had abandoned efforts to close plants voluntarily.
The ministers stopped short of imposing their own solution
immediately, instead urging steel producers to try again to
reach agreement on voluntary cutbacks.
The EC Commission has said it will come up with detailed
proposals in July on the future of the EC steel industry and EC
industry ministers meet again in September to reach a final
decision.
|
test/17677 | test/17677 |@title philip:1 crosby:1 pcro:1 make:1 acquisition:1 |@word philip:1 crosby:1 associates:1 inc:2 say:2 agree:1 acquire:1 process:3 integrity:1 dallas:1 computer:1 software:2 designer:1 undisclosed:1 term:1 help:1 company:1 monitor:1 industrial:1 identify:1 problem:1 recommend:1 solution:1 | PHILIP CROSBY <PCRO.O> MAKES ACQUISITION
Philip Crosby Associates Inc
said it has agreed to acquire Process Integrity Inc of Dallas,
a computer software designer, for undisclosed terms.
It said Process' software helps companies monitor
industrial processes, identifies problems and recommends
solutions.
|
test/17682 | test/17682 |@title peerless:1 manufacturing:1 pmfg:1 sell:1 unit:1 |@word peerless:3 manufacturing:1 co:2 say:5 sell:3 industrial:1 sensor:1 instrument:1 division:1 panhandle:1 equipment:2 subsidiary:1 total:1 635:1 000:3 dlrs:3 cash:1 transaction:1 result:1 loss:3 605:1 50:1 ct:4 per:3 share:3 take:1 fourth:1 quarter:1 end:1 june:1 30:1 due:2 sale:1 probably:1 year:1 unit:2 buyer:1 name:1 increase:1 cause:1 depressed:1 petroleum:1 market:1 earn:1 576:1 63:1 fiscal:3 1986:2 lose:1 28:1 first:1 nine:1 month:1 1987:1 12:1 | PEERLESS MANUFACTURING <PMFG.O> SELLS UNIT
Peerless Manufacturing Co said it has sold
its Industrial Sensors and Instruments Division and Panhandle
Equipment Co subsidiaries for a total of 635,000 dlrs in cash.
It said the transaction will result in a loss of about
605,000 dlrs or 50 cts per share, which it will take in the
fourth quarter ending June 30. Peerless said due to the sale it
will probably have a loss for the year.
It said it sold the units, to buyers it did not name, due
to increasing losses caused by the depressed petroleum
equipment market.
Peerless earned 576,000 dlrs or 63 cts per share in fiscal
1986.
It said the units being sold lost 28 cts per share in the
first nine months of fiscal 1987 and 12 cts in all of fiscal
1986.
|
test/17683 | test/17683 |@title hicks:2 haas:2 group:2 get:2 financing:2 spectradyne:2 acquisition:2 |@word | HICKS AND HAAS GROUP GETS FINANCING FOR SPECTRADYNE ACQUISITION
HICKS AND HAAS GROUP GETS FINANCING FOR SPECTRADYNE ACQUISITION
|
test/17685 | test/17685 |@title united:1 tote:2 inc:1 2nd:1 qtr:1 april:1 30:1 |@word shr:2 profit:6 four:2 ct:3 vs:6 three:1 net:2 64:1 197:1 56:1 437:1 rev:2 4:1 9:2 mln:4 1:2 6:1 six:1 month:1 loss:2 seven:1 67:1 133:1 114:1 427:1 2:1 8:1 note:1 1987:1 first:1 half:1 include:1 revnue:1 new:1 racetrack:1 operation:1 | UNITED TOTE INC <TOTE.O> 2ND QTR APRIL 30
Shr profit four cts vs profit three cts
Net profit 64,197 vs profit 56,437
Revs 4.9 mln vs 1.6 mln
Six months
Shr profit four vs loss seven cts
Net profit 67,133 vs loss 114,427
Revs 9.1 mln vs 2.8 mln
NOTE:1987 first half includes revnues of new racetrack
operation.
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test/17686 | test/17686 |@title canada:1 lumber:1 export:1 may:1 become:1 unprofitable:1 |@word canada:2 softwood:2 lumber:6 become:1 unprofitable:1 forest:2 product:2 producer:1 price:3 decline:1 175:1 u:5 dlrs:2 per:1 thousand:1 board:1 foot:1 two:1 four:1 inch:1 current:1 level:1 195:1 canadian:2 industry:1 council:1 chairman:1 adam:1 zimmerman:5 tell:1 reporter:1 reiterate:1 profitability:1 hurt:1 move:1 negotiator:1 impose:1 last:1 january:1 15:2 pct:2 export:2 tax:3 ship:1 exchange:1 lumbermen:1 lobby:1 drop:1 request:1 countervail:1 duty:1 think:2 falling:1 market:1 moderate:1 slow:1 say:4 medium:1 briefing:1 adverse:1 impact:1 low:1 would:1 feel:1 mill:1 eastern:1 first:1 migrate:1 westward:1 country:1 swallow:1 time:2 bomb:1 go:1 get:1 tough:1 also:1 federal:1 government:1 maintain:1 exist:1 allow:1 province:1 offset:1 increase:1 provincial:1 fee:1 cut:1 | CANADA LUMBER EXPORTS MAY BECOME UNPROFITABLE
Canada's softwood lumber will become
unprofitable for some forest product producers if prices
decline to about 175 U.S. dlrs per thousand board feet of two
by four inch lumber from current levels of about 195 U.S. dlrs,
Canadian Forest Industry Council chairman Adam Zimmerman told
reporters.
Zimmerman reiterated profitability has been hurt by a move
by Canadian negotiators to impose last January a 15 pct export
tax on softwood lumber shipped to the U.S. in exchange for a
U.S. lumbermen's lobby dropping its request for a countervail
duty.
'I think that there has been a falling off in the market, so
I think there is a moderate slow down in the price now,'
Zimmerman said at a media briefing.
Zimmerman said the adverse impact from lower U.S. lumber
product prices would be felt by lumber mills in eastern Canada
first, migrating westward.
'The country has swallowed a time bomb and it will go off
when times get tough,' Zimmerman said.
He also said the federal government should maintain the
existing 15 pct export tax and not allow provinces to offset
the tax with increased provincial fees for cutting lumber.
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test/17687 | test/17687 |@title semicon:1 tools:1 inc:1 make:1 acquisition:1 |@word semicon:1 tools:1 inc:1 say:2 sign:1 letter:1 intent:1 acquire:1 majority:1 interest:1 privately:1 hold:1 east:1 coast:1 sale:2 distributor:1 fabricator:1 technical:1 ceramic:1 product:1 disposable:1 clean:1 room:1 material:1 supply:1 term:1 disclose:1 expect:1 acquisition:1 result:1 substantial:1 increase:1 | <SEMICON TOOLS INC> MAKING ACQUISITION
Semicon Tools Inc said it has
signed a letter of intent to acquire a majority interest in
privately held East Coast Sales, a distributor and fabricator
of technical ceramic products and disposable clean room
materials and supplies.
Terms were not disclosed.
It said it expects to acquisition to result in a
substantial sales increase.
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test/17688 | test/17688 |@title safety:1 kleen:1 sk:1 complete:1 acquisition:1 |@word safety:1 kleen:1 corp:1 say:1 complete:1 acquisition:1 80:1 pct:1 interest:1 breslube:2 enterprise:1 12:1 mln:2 dlrs:2 stock:1 cash:1 base:1 toronto:1 collect:1 use:1 lubricate:1 oil:1 auto:1 garage:1 car:1 dealer:1 business:1 refine:1 resale:1 annual:1 revenue:1 18:1 | SAFETY-KLEEN <SK> COMPLETES ACQUISITION
Safety-Kleen Corp said it completed
the acquisition of an 80 pct interest in BresLube Enterprises,
for about 12 mln dlrs in stock and cash.
BresLube, based in Toronto, collects used lubricating oils
from auto garages, car dealers and other businesses, and
re-refines it for resale. Its annual revenues are about 18 mln
dlrs.
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test/17694 | test/17694 |@title hicks:1 haas:1 group:1 spectradyne:1 spdy:1 fund:1 spi:1 |@word holding:1 inc:2 group:1 consist:1 hick:1 haas:1 acadia:1 partners:1 lp:1 say:2 receive:1 commitment:1 senior:2 bank:1 financing:2 need:1 complete:1 propose:1 acquisition:1 spectradyne:1 46:1 dlrs:2 share:1 cash:1 security:1 total:1 452:1 mln:1 transaction:1 condition:1 arrangement:1 fo:1 today:1 also:1 execute:1 multi:1 year:1 employment:1 non:1 competition:1 agreement:1 five:1 spectrayne:1 manager:1 | HICKS/HAAS GROUP HAS SPECTRADYNE <SPDY.O> FUNDS
SPI Holding Inc, a group consisting of
Hicks and Haas and Acadia Partners LP, said it has received
commitments for the senior bank financing needed to complete
its proposed acquisition of Spectradyne Inc for 46 dlrs a share
in cash or securities, or a total of about 452 mln dlrs.
The transaction was conditioned on the arrangement fo
financing by today.
It said it has also executed multi-year employment and
non-competition agreements with five Spectrayne senior managers.
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test/17698 | test/17698 |@title alcoa:2 raise:2 price:2 aluminum:2 beverage:2 stock:2 eight:2 pct:2 |@word | ALCOA RAISING PRICES OF ALUMINUM BEVERAGE CAN STOCK EIGHT PCT
ALCOA RAISING PRICES OF ALUMINUM BEVERAGE CAN STOCK EIGHT PCT
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test/17700 | test/17700 |@title computer:1 assoc:1 ca:1 bolster:1 hand:1 ibm:1 |@word computer:18 associates:6 international:2 inc:1 800:1 mln:8 dlr:1 merger:9 uccel:14 corp:5 uce:1 eliminate:1 strong:3 rival:2 company:18 still:2 face:1 stiff:1 competition:2 business:3 machines:1 ibm:4 wall:1 street:1 analyst:9 say:20 rule:2 force:1 mainframe:3 system:5 software:9 scott:1 smith:1 donaldson:1 lufkin:1 jenrette:1 combination:1 two:3 clearly:1 present:1 much:2 front:1 besides:1 far:1 away:2 powerful:1 field:2 add:1 e:2 f:2 hutton:2 terence:1 quinn:2 segment:1 market:2 know:1 utility:3 package:1 boost:2 productivity:1 datum:1 processing:1 facility:1 increase:1 speed:1 power:1 efficiency:1 large:2 combine:2 big:1 supplier:1 remain:1 player:1 mostly:1 small:1 firm:1 find:1 harder:1 past:2 associate:6 cap:1 six:2 year:3 acquisition:3 campaign:1 vault:1 garden:1 city:1 n:1 base:4 top:1 industry:2 deal:3 complete:4 sometime:1 august:1 revenue:1 exceed:1 450:1 dlrs:10 push:1 microsoft:1 mfst:1 world:1 independent:1 vendor:1 founder:1 chairman:2 charles:1 b:1 wang:8 take:3 public:1 1981:1 since:1 buy:1 15:1 annual:1 sale:4 18:1 5:2 309:1 3:1 end:1 march:1 31:1 liemandt:5 charge:1 wyly:4 sell:2 non:1 decide:1 would:8 focus:1 solely:1 1984:1 rename:1 leave:1 also:3 turn:1 growth:2 last:1 day:2 1986:2 buyout:1 total:1 60:1 earn:1 17:1 0:1 1:3 01:1 share:6 141:1 agreement:1 surprise:1 largely:1 bitter:1 dallas:1 engineer:1 comeback:1 dark:1 1982:1 lose:1 7:2 56:1 ct:1 time:3 potpourri:1 13:1 different:1 three:1 involve:1 1983:1 walter:1 haefner:2 swiss:2 financier:1 major:1 investor:2 lure:1 gregory:1 j:1 job:1 general:1 electric:1 co:1 ge:1 services:1 unit:1 news:1 conference:1 give:1 user:1 single:1 source:1 wide:1 range:1 product:4 addition:2 microcomputer:1 make:1 inroad:1 application:1 successful:1 accounting:1 banking:1 continue:1 support:1 enhance:1 line:1 note:1 eventually:1 weed:1 duplicate:1 offering:1 20:2 pct:6 overlap:1 dilute:2 holding:1 current:2 shareholder:1 10:1 join:1 forecast:1 earning:7 fiscal:1 prove:1 track:1 record:1 without:1 dilution:1 therefore:1 change:1 1988:1 estimate:2 05:1 look:1 closely:1 operation:1 cut:1 duplication:1 marketing:1 research:2 development:1 pay:1 premium:2 friday:1 closing:1 price:1 swap:1 47:1 50:1 worth:2 stock:2 nearly:1 33:1 1987:1 45:1 stephen:1 mcclellan:1 merrill:1 lynch:1 currently:2 value:1 per:1 potential:1 customer:1 hold:1 25:1 58:1 executive:1 alter:1 target:1 maintain:1 30:1 35:1 expect:1 problem:1 clear:1 antitrust:1 division:1 u:1 justice:1 department:1 decline:1 work:1 together:1 | COMPUTER ASSOC. <CA> BOLSTERS HAND AGAINST IBM
Computer Associates International Inc's
800 mln dlr merger with Uccel Corp <UCE> will eliminate its
strongest rival, but the company still faces stiff competition
from International Business Machines Corp <IBM>, Wall Street
analysts said.
'IBM is still the ruling force in mainframe systems
software,' said Scott Smith, an analyst with Donaldson Lufkin
and Jenrette.
'But the combination of the two companies will clearly
present a much stronger front,' he said.
Besides IBM, 'Computer Associates will be far and away the
most powerful company in the field,' added E.F. Hutton analyst
Terence Quinn.
That field is a segment of the market known as system
utilities, or software packages that boost the productivity of
a company's data processing facilities by increasing the speed,
power and efficiency of large mainframe computers.
The merger of Uccel and Computer Associates combines the
two biggest systems utilities suppliers other than IBM.
Analysts said the remaining players are mostly small firms that
will find the competition much harder than in the past.
For Computer Associates, the merger with Uccel caps a
six-year acquisition campaign that has vaulted the Garden City,
N.Y.-based company to the top of the software industry.
When the deal is completed sometime in August, the
company's revenues will exceed 450 mln dlrs, pushing it past
Microsoft Corp <MFST> as the world's largest independent
software vendor.
Computer Associates founder and chairman Charles B. Wang
took the company public in 1981, and since then he has bought
15 companies and boosted annual sales from 18.5 mln to 309.3
mln dlrs for the year ended March 31.
Liemandt took charge of Wyly, sold off its non-computer
businesses and decided that it would focus solely on mainframe
computer software. In 1984, the company was renamed Uccel Corp.
Liemandt, who said he will leave the company after the
merger is completed, also turned to acquisitions for growth.
On the last day of 1986, Uccel completed the buyouts of six
companies for a total of about 60 mln dlrs.
For 1986, it earned 17.0 mln dlrs, or 1.01 dlrs a share, on
sales of 141.5 mln dlrs.
The agreement took industry analysts by surprise, largely
because the companies had been such bitter rivals. Also,
Dallas-based Uccel had engineered a strong comeback from the
dark days of 1982, when, as Wyly Corp, it lost 7.7 mln dlrs, or
56 cts a share.
At that time, Wyly owned a potpourri of 13 different
businesses, only three of which were involved in computer
software. In 1983, Walter Haefner, a Swiss financier and a
major Wyly investor, lured Gregory J. Liemandt away from his
job as chairman of General Electric Co's <GE> computer services
unit.
Computer Associates' Wang and Uccel's Liemandt said at a
news conference that the merger would give computer users a
single source for a wide range of software products.
In addition to system utilities, Computer Associates also
sell products for microcomputers, while Uccel has made inroads
in the applications software market, where analysts said it has
been successful with accounting and banking systems.
Wang said Computer Associates would continue to support and
enhance both companies' product lines, but noted that the
company will eventually weed out duplicate offerings. He said
about 20 pct of the companies' products overlap.
Analysts said the merger would dilute the holdings of
current Computer Associates shareholders by about 10 pct. But
they joined Wang in forecasting that the deal will not dilute
Computer Associates' earnings for the current fiscal year.
Quinn of E.F. Hutton said Wang has a proven track record of
completing acquisitions without earnings dilution. Therefore,
he said he would not change his 1988 earnings estimate of 1.05
dlrs a share.
Wang said he would look closely at the combined operations
of the two companies and cut duplication in sales, marketing
and research and development.
Analysts said Computer Associates paid a premium for Uccel.
Based on Friday's closing price, the company will swap 47.50
dlrs worth of its stock for each Uccel share, which is nearly
33 times Uccel's 1987 estimated earnings of 1.45 dlrs a share.
Stephen T. McClellan of Merrill Lynch Research said most
software companies are currently valued at about 20 times
per-share earnings. But the analyst said Uccel was worth the
premium because of its earnings potential and customer base.
Wang said Haefner, the Swiss investor, would hold about 25
pct of Computer Associates stock after the merger. He currently
owns 58 pct of Uccel.
The executive said the merger would not alter his target of
maintaining sales and earnings growth of 30 pct to 35 pct.
In addition, he said he expects no problems in having the
deal cleared by the antitrust division of the U.S. Justice
Department.
Uccel's Liemandt declined to say what he will do after the
merger, but he did not rule out working together with Wang.
|
test/17701 | test/17701 |@title maxwell:1 would:1 renew:1 bid:1 suit:1 fail:1 |@word british:5 press:2 magnate:1 robert:1 maxwell:5 say:3 printing:2 communication:1 corp:2 plc:1 would:2 renew:1 bid:2 harcourt:4 brace:1 jovanovich:1 inc:1 hbj:1 lawsuit:1 file:2 new:1 york:1 today:1 fail:1 speak:1 conference:1 deny:1 market:1 rumor:1 approach:1 institution:1 arrange:1 right:1 issue:1 view:1 relaunche:1 u:2 publishing:1 concern:1 believe:1 chase:1 mirage:1 print:1 suit:1 district:1 court:1 manhattan:1 block:1 call:1 fraudulent:1 recapitalization:2 announce:1 last:1 week:1 response:1 hostile:1 two:1 billion:1 dlr:1 takeover:1 proposal:1 plan:2 pay:1 shareholder:1 40:2 dlrs:1 per:1 share:2 also:1 pct:1 control:1 employee:1 management:1 financial:1 adviser:1 first:1 boston:1 fbc:1 | MAXWELL WOULD NOT RENEW BID IF SUIT FAILS
British press magnate Robert Maxwell said
his British Printing and Communication Corp Plc would not renew
its bid for Harcourt Brace Jovanovich Inc <HBJ> if the lawsuit
filed against Harcourt in New York today fails.
Speaking at a press conference, Maxwell denied market
rumors that British Printing had approached British
institutions to arrange a rights issue with a view to
relaunching its bid for the U.S. publishing concern.
'I don't believe in chasing mirages,' maxwell said.
British Printing filed suit in U.S. District Court in
Manhattan to block what Maxwell called a fraudulent
recapitalization announced by Harcourt last week.
Harcourt, in response to a hostile two billion dlr takeover
proposal from Maxwell, planned a recapitalization that would
pay shareholders 40 dlrs per share. Under the plan, it also
said 40 pct of its shares will be controlled by its employees,
management, and its financial adviser, First Boston Corp <FBC>.
|
test/17702 | test/17702 |@title alcoa:2 raise:2 price:2 aluminum:2 beverage:2 stock:2 eight:2 pct:2 |@word | ALCOA RAISING PRICES OF ALUMINUM BEVERAGE CAN STOCK EIGHT PCT
ALCOA RAISING PRICES OF ALUMINUM BEVERAGE CAN STOCK EIGHT PCT
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test/17703 | test/17703 |@title grand:1 union:1 co:1 4th:1 qtr:1 march:1 28:1 net:1 |@word net:4 7:2 237:1 000:5 vs:6 5:3 938:1 sale:2 630:1 8:2 mln:4 601:1 year:4 34:2 1:2 20:1 2:2 75:1 billion:2 61:1 note:1 twelve:1 52:1 week:1 period:2 generale:1 occidentale:1 sa:1 subsidiary:1 prior:1 include:2 580:1 dlr:1 pretax:1 charge:2 store:1 closing:1 pension:3 gain:2 3:1 455:1 dlrs:2 502:1 due:2 change:2 accounting:2 income:1 tax:3 rate:1 45:1 9:1 pct:2 abolition:1 investment:2 credit:2 elimination:1 approximately:1 offset:1 company:1 say:1 | <GRAND UNION CO> 4TH QTR MARCH 28 NET
Net 7,237,000 vs 5,938,000
Sales 630.8 mln vs 601.8 mln
Year
Net 34.1 mln vs 20.5 mln
Sales 2.75 billion vs 2.61 billion
NOTE: Twelve and 52-week periods.
Generale Occidentale SA subsidiary.
Prior year net both periods includes 7,580,000 dlr pretax
charge for store closings.
Year net includes pension gain 3,455,000 dlrs vs charge
5,502,000 dlrs due to change in pension accounting.
Income tax rate for year 45.9 pct vs 34.1 pct due to
abolition of investment tax credits. Elimination of investment
tax credits approximately offset gain from change in pension
accounting, company said.
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test/17706 | test/17706 |@title u:2 video:1 vvco:1 first:1 national:1 merger:1 |@word video:3 vending:1 corp:2 say:1 complete:1 acquire:1 first:3 national:3 telecommunications:1 inc:1 entertainment:1 10:1 mln:1 control:1 interest:1 u:2 vend:1 share:1 pursuant:1 transaction:1 harvey:1 seslowsky:1 william:1 hode:1 resign:1 board:1 replace:1 four:1 member:1 | U.S. VIDEO <VVCO.O>, FIRST NATIONAL IN MERGER
U.S. Video Vending Corp said it
completed acquiring First National Telecommunications INc from
First National Entertainment Corp for about 10 mln, or a
controlling interest of U.S. Video Vending shares.
Pursuant to the transaction, Harvey Seslowsky and William
Hodes resigned from U.S. Video's board and were replaced by
four members of First National.
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test/17707 | test/17707 |@title cocoa:1 origin:1 dismay:1 buffer:1 stock:1 action:1 |@word trader:8 recently:2 return:2 west:4 africa:2 say:7 producer:4 dismay:1 ineffective:1 action:2 far:4 international:4 cocoa:9 organization:1 icco:2 buffer:8 stock:9 manager:5 purchase:4 one:3 african:2 annoy:1 play:1 part:2 require:1 pact:2 stabilise:1 price:6 current:1 low:2 21:2 000:8 tonne:9 second:2 hand:1 take:2 purpose:1 note:3 intermittent:2 basis:2 8:1 first:1 week:2 buy:3 13:1 well:2 short:1 limitation:1 5:1 day:3 20:1 agreement:4 place:1 unhappy:2 impact:1 produce:1 country:1 deserve:1 treatment:1 consumer:1 london:2 terminal:2 market:2 would:1 gain:1 around:1 300:1 stg:2 10:3 average:2 indicator:1 1:5 935:1 sdr:2 per:1 midway:1 point:1 reference:1 however:1 little:1 progress:1 make:2 direction:1 still:1 600:1 intervention:1 level:1 562:1 87:1 569:1 46:1 previously:1 may:1 announce:1 today:2 tomorrow:1 although:1 rule:1 automatic:1 complaint:1 inaction:1 confine:1 observe:1 reuter:1 report:1 rotterdam:1 quote:1 industry:1 source:1 dutch:1 processor:1 also:1 buying:1 activity:1 express:1 surprise:1 total:2 potential:1 new:1 150:1 carryover:1 holding:1 previous:1 100:1 rise:1 friday:1 close:1 july:1 high:1 271:1 seem:1 absent:1 go:1 declare:1 intention:1 quite:1 often:1 reverse:1 apply:1 | COCOA ORIGINS DISMAYED BY BUFFER STOCK ACTION
Traders recently returned from West Africa
say some producers there are dismayed by the ineffective action
so far by the International Cocoa Organization (ICCO) buffer
stock manager on buffer stock purchases.
One trader said some West African producers are annoyed the
Buffer Stock manager is not playing his part as required by the
International Cocoa Pact to stabilise prices from current lows.
So far, only 21,000 tonnes of second hand cocoa have been
taken up for buffer stock purposes and this, traders noted,
only on an intermittent basis.
They noted the purchases, of 8,000 tonnes in the first week
he bought and 13,000 in the second, are well short of the
limitations of no more than 5,000 tonnes in one day and 20,000
in one week which the cocoa agreement places on him.
The traders recently returned from West Africa say
producers there are unhappy about the impact on cocoa prices so
far, noting producing countries are part of the international
cocoa pact and deserve the same treatment as consumers.
London traders say terminal market prices would have to
gain around 300 stg a tonne to take the ICCO 10-day average
indicator to its 1,935 sdr per tonne midway point (or reference
price).
However, little progress has been made in that direction,
and the 10-day average is still well below the 1,600 sdr lower
intervention level at 1,562.87 from 1,569.46 previously.
The buffer stock manager may announce today he will be
making purchases tomorrow, although under the rules of the
agreement such action is not automatic, traders said.
Complaints about the inaction of the buffer stock manager
are not confined to West African producers, they observed.
A Reuter report from Rotterdam quoted industry sources
there saying Dutch cocoa processors also are unhappy with the
intermittent buffer stock buying activities.
In London, traders expressed surprise that no more than
21,000 tonnes cocoa has been bought so far against total
potential purchases under the new agreement of 150,000 tonnes.
Carryover holdings from the previous International Cocoa
Agreement in the stock total 100,000 tonnes.
Terminal prices today rose by up to 10 stg a tonne from
Friday's close, basis July at its high of 1,271.
It seems that when the buffer stock manager is absent from
the market, prices go up, while when he declares his intention
to buy, quite often the reverse applies, traders said.
|
test/17710 | test/17710 |@title rapid:1 american:1 complete:1 k:1 mart:1 km:1 store:1 buy:1 |@word privately:1 hold:1 rapid:1 american:1 corp:2 say:2 complete:1 previously:1 announce:1 acquisition:1 66:1 kresge:1 jupiter:1 store:3 k:1 mart:1 company:1 plan:1 operate:1 57:1 mccrory:1 five:1 10:1 variety:1 close:1 end:1 july:1 | RAPID-AMERICAN COMPLETES K MART <KM> STORE BUY
Privately-held Rapid-American Corp said
it has completed the previously-announced acquisition of 66
Kresge and Jupiter stores from K Mart Corp.
The company said it plans to operate 57 of the stores as
McCrory Five and 10 variety stores and close the others by the
end of July.
|
test/17712 | test/17712 |@title hughes:1 supply:1 inc:1 hug:1 1st:1 qtr:1 april:1 30:1 net:1 |@word shr:2 58:1 ct:4 vs:4 53:2 dilute:1 54:1 net:1 1:2 957:1 745:1 594:1 009:1 sale:1 95:1 8:1 mln:2 87:1 4:1 note:1 average:1 share:1 11:1 7:1 pct:1 primary:1 basis:1 | HUGHES SUPPLY INC <HUG> 1ST QTR APRIL 30 NET
Shr 58 cts vs 53 cts
Shr diluted 54 cts vs 53 cts
Net 1,957,745 vs 1,594,009
Sales 95.8 mln vs 87.4 mln
NOTE: Average shares up 11.7 pct on primary basis.
|
test/17714 | test/17714 |@title little:1 reaction:1 removal:1 comex:1 daily:1 limit:1 |@word elimination:3 limit:10 daily:4 price:5 fluctuation:1 metal:2 future:7 contract:5 trade:5 commodity:1 exchange:1 comex:4 appear:1 little:1 effect:1 market:6 analyst:2 say:8 nothing:1 apparent:1 change:1 william:1 neill:4 director:1 research:1 elders:1 futures:1 inc:1 approach:2 old:1 trading:3 relative:1 quiet:2 narrow:1 range:1 may:1 5:1 eliminate:1 two:1 follow:1 spot:2 delivery:1 gold:2 silver:4 copper:1 aluminum:1 review:1 clearing:1 operation:1 severely:1 test:1 volatile:1 end:1 april:2 announce:1 friday:1 lifting:1 effective:1 today:2 previously:2 25:1 dlrs:3 per:1 ounce:1 back:3 month:2 7:1 00:1 weak:2 nearby:2 amid:3 thin:1 volume:1 condition:1 trader:3 50:1 cent:1 30:1 40:1 ct:1 last:1 week:1 often:1 allowable:1 concern:1 inflation:1 dollar:1 factor:1 rush:1 unlimited:1 offset:1 move:2 result:1 much:1 confusion:1 many:1 unmatched:2 large:2 loss:1 fine:1 four:1 firm:1 total:1 100:1 000:1 failure:1 resolve:1 timely:1 manner:1 paul:1 cain:1 vice:1 president:1 shearson:1 lehman:1 brothers:1 cut:1 panic:1 buying:1 selling:1 contribute:1 orderly:1 add:2 would:1 caution:1 realistic:1 24:1 hour:1 without:1 | LITTLE REACTION TO REMOVAL COMEX DAILY LIMITS
The elimination of limits on daily price
fluctuations for metals futures contracts traded on the
Commodity Exchange, COMEX, appears to be having little effect
on the market, analysts said.
'There is nothing apparent from the change,' said William
O'Neill, director of futures research at Elders Futures Inc.
'The market has not approached the old price limits and
trading is relative quiet, in narrow ranges,' he said.
On May 5, COMEX eliminated price limits on the two
contracts following each spot delivery in gold, silver, copper
and aluminum futures after a review of its clearing operations,
which were severely tested by a volatile market in silver
futures at the end of April. COMEX announced Friday the lifting
of all daily limits, effective today.
Gold futures, which previously had a limit of 25 dlrs per
ounce in most back months, were about 7.00 dlrs weaker in the
nearby contracts amid thin volume conditions, traders said.
Silver futures, previously limited at 50 cents in most back
months, were trading about 30-40 cts weaker in the nearby
contracts amid quiet trading today.
During the last week of April, silver futures often traded
at the daily allowable limit amid concerns about inflation, the
dollar, and other factors. Traders rushed into the spot, or
unlimited, contract to offset those moves, analysts said.
As a result, O'Neill said, there was much confusion, many
unmatched trades, and large losses for some traders.
The COMEX fined four large firms a total of 100,000 dlrs
for failure to resolve unmatched trades in a timely manner.
Paul Cain, a vice president at Shearson Lehman Brothers,
said the elimination of price limits will cut back on panic
buying or selling and contribute to more orderly markets.
O'Neill added that the elimination of daily limits would
add caution to trading.
'This is a more realistic approach because the metals
market is a 24 hours market and prices can move without limit,'
O'Neill said.
|
test/17716 | test/17716 |@title total:1 health:1 tlht:1 make:1 acquisition:1 |@word total:1 health:2 systems:1 inc:2 say:3 agree:1 acquire:1 comed:1 denville:1 n:1 j:1 maintenance:1 organization:1 63:1 000:1 subscriber:1 undisclosed:1 amount:1 cash:1 assumption:1 liability:1 provision:1 10:1 mln:3 dlrs:4 equity:1 debt:1 finance:1 company:1 acquisition:1 subject:1 regulatory:1 approval:1 come:1 1986:1 revenue:2 30:1 0:1 earning:1 650:1 383:1 first:1 four:1 month:1 1987:1 13:1 6:1 60:1 pct:1 year:1 | TOTAL HEALTH <TLHT.O> TO MAKE ACQUISITION
Total Health Systems Inc said it
has agreed to acquire CoMED Inc of Denville, N.J., a health
maintenance organization with over 63,000 subscribers, for an
undisclosed amount of cash, the assumption of liabilities and
the provision of up to 10 mln dlrs in equity and debt
financing.
The company said the acquisition is subject to regulatory
approvals.
It said CoMED had 1986 revenues of 30.0 mln dlrs and
earnings of 650,383 dlrs and had revenues for the first four
months of 1987 of 13.6 mln dlrs, up 60 pct from a year before.
|
test/17719 | test/17719 |@title united:1 asset:1 uam:1 complete:1 acquisition:1 |@word united:1 asset:2 management:2 corp:1 say:2 complete:1 acquisition:1 rice:2 hall:2 james:1 associates:1 san:1 diego:1 undisclosed:1 term:1 manage:1 investment:1 institution:1 individual:1 690:1 mln:1 dlrs:1 currently:1 | UNITED ASSET <UAM> COMPLETES ACQUISITION
United Asset Management corp said it
has completed the acquisition of Rice, Hall, James and
Associates of San Diego for undisclosed terms.
It said Rice Hall manages investments for institutions and
individuals and has about 690 mln dlrs in assets under
management currently.
|
test/17722 | test/17722 |@title u:2 export:2 inspection:2 thous:2 bushel:2 soybean:2 7:2 209:2 wheat:2 15:2 187:2 corn:2 25:2 347:2 |@word | U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS, SOYBEANS 7,209, WHEAT 15,187 CORN 25,347
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS, SOYBEANS 7,209, WHEAT 15,187 CORN 25,347
|
test/17723 | test/17723 |@title computerland:1 acquire:1 investor:1 group:1 |@word computerland:5 corp:1 say:5 investor:1 group:1 lead:1 financial:1 services:1 firm:1 e:1 warburg:1 pincus:1 co:1 inc:1 agree:1 acquire:1 business:1 privately:1 hold:1 company:2 world:1 large:1 retailer:1 personal:1 computer:2 decline:1 provide:2 detail:1 arrangement:1 expect:1 close:1 acquisition:2 next:1 60:1 90:1 day:1 announce:1 transaction:1 resource:1 support:1 maintain:1 expand:1 leadership:1 position:1 retail:2 industry:1 also:1 network:1 sale:1 1986:1 total:1 1:1 45:1 billion:1 dlrs:1 | COMPUTERLAND TO BE ACQUIRED BY INVESTOR GROUP
Computerland Corp said an
investor group led by the financial services firm E.M. Warburg
Pincus and Co Inc has agreed to acquire Computerland's
business.
Computerland, a privately-held company said to be the
world's largest retailer of personal computers, declined to
provide details of the arrangement.
But the company said it expects to close the acquisition
over the next 60 to 90 days.
In announcing the transaction, Computerland said the
acquisition will provide it with resources and support to
maintain and expand its leadership position in the computer
retail industry.
Computerland also said its network retail sales in 1986
totalled 1.45 billion dlrs.
|
test/17727 | test/17727 |@title bilzerian:2 say:2 pay:2 n:2 pak:2 sign:2 merger:2 accord:2 tender:2 7:2 5:2 mln:2 share:2 |@word | BILZERIAN SAYS IF PAY N'PAK SIGNS MERGER ACCORD HE WILL TENDER FOR 7.5 MLN SHARES
BILZERIAN SAYS IF PAY N'PAK SIGNS MERGER ACCORD HE WILL TENDER FOR 7.5 MLN SHARES
|
test/17728 | test/17728 |@title piosec:1 pio:1 al:1 acquire:1 semiconductor:1 stake:1 |@word piosec:2 technology:1 ltd:1 say:2 exchange:1 4:1 5:2 mln:2 common:1 share:2 21:1 pct:1 privately:1 alliance:1 semiconductor:1 corp:1 santa:1 clara:1 calif:1 followin:1 acquisition:1 spokesman:1 company:1 6:1 outstanding:1 | PIOSEC <PIO.AL> ACQUIRES SEMICONDUCTOR STAKE
Piosec Technology Ltd said it
exchanged 4.5 mln common shares for 21 pct of privately owned
<Alliance Semiconductor Corp> of Santa Clara, Calif.
Followin the acquisition, a Piosec spokesman said, the
company has 6.5 mln shares outstanding.
|
test/17731 | test/17731 |@title tin:1 trader:1 response:1 mute:1 kl:1 future:1 market:1 |@word european:6 free:4 market:10 tin:13 trader:7 make:4 somewhat:1 muted:1 response:1 plan:1 kuala:2 lumpur:2 dollar:2 base:2 future:2 due:1 launch:1 october:3 say:4 new:3 would:3 probably:1 useful:2 trading:5 medium:1 japan:1 south:1 east:1 asian:1 interest:1 although:1 generally:1 appear:1 reasonably:1 satisfied:1 current:1 system:1 operate:1 since:2 london:2 metal:8 exchange:2 lme:4 cease:2 1985:2 dealer:2 also:3 want:1 see:2 acceptable:1 foreign:1 sort:1 demand:4 develop:1 forward:1 delivery:1 view:2 among:1 propose:1 provide:1 another:1 reference:1 point:1 inaugurate:1 malaysian:2 government:1 past:2 major:4 player:1 time:1 trade:2 participant:1 uncomfortable:1 express:1 preference:1 resumption:1 add:1 behind:1 scene:1 discussion:1 subject:1 definite:1 move:2 unlikely:1 outstanding:1 high:7 court:1 litigation:1 action:1 resolve:1 spot:1 price:6 currently:1 around:1 4:4 200:1 stg:8 per:2 tonne:7 grade:2 warehouse:2 rotterdam:1 18:1 month:2 ten:1 year:6 low:2 3:1 400:1 march:1 1986:3 rebound:1 680:1 december:2 compare:1 8:1 140:1 last:3 pay:1 record:2 10:1 350:1 cash:1 standard:1 june:1 stock:2 near:1 two:2 28:2 065:1 fall:2 steadily:1 72:1 485:1 reach:1 february:1 turn:1 bullish:1 late:1 producer:4 forecast:1 supply:1 deficit:1 000:5 29:1 analyst:2 predict:1 5:1 1987:1 however:1 trend:1 reverse:1 follow:1 strong:1 upswing:1 sterling:1 versus:1 value:1 back:1 briefly:1 100:1 approach:1 700:1 decline:1 accelerate:1 sell:2 little:1 level:1 become:1 competitive:1 seller:1 lack:1 significant:2 steel:1 mill:1 large:1 purchase:1 prior:1 15:1 itc:3 creditor:1 bank:2 original:1 holding:2 nearly:1 45:1 almost:1 halve:2 bulk:1 material:2 still:2 available:1 hold:2 japanese:1 firm:1 reluctant:1 depress:1 unwanted:1 80:1 broker:2 international:2 council:1 buffer:1 manager:1 halt:1 support:1 operation:1 behalf:1 22:1 member:1 nation:1 agreement:1 overhang:1 reduce:1 shearson:1 lehman:1 brothers:1 earlier:1 report:1 related:1 overall:1 position:1 immediate:1 sign:1 rally:1 movement:1 expect:1 largely:1 relate:1 currency:1 fluctuation:1 unless:1 consumer:2 emerge:1 third:1 quarter:1 association:1 produce:1 country:1 atpc:2 effort:1 collapse:1 ita:1 achieve:1 world:1 attempt:1 bring:1 export:1 control:1 umbrella:1 date:1 brazil:1 china:1 remain:1 unaffected:1 argument:1 apparently:1 continue:1 offer:1 discount:1 main:1 centre:1 | TIN TRADERS' RESPONSE MUTED TO KL FUTURES MARKET
European free market tin traders made a
somewhat muted response to plans for a Kuala Lumpur
dollar-based tin futures market due to be launched in October.
Traders said the new market would probably be a useful
trading medium for Japan and other South East Asian tin
interests although European traders generally appear to be
reasonably satisfied with the current 'free market' system
which has been operating since London Metal Exchange, LME, tin
trading ceased in October 1985. Dealers here will also want to
see how acceptable foreign metal will be on the new market and
what sort of demand develops for forward deliveries.
There is also a view among European traders that, while the
proposed Kuala Lumpur tin futures market would provide another
useful reference point, a market inaugurated by the Malaysian
government -- in the past viewed as a major player at times by
the trade -- would make participants uncomfortable.
Some traders expressed a preference for a resumption of
trading on the London Metal Exchange, but they added that while
there has been some behind the scenes discussion on the subject
a definite move is unlikely until outstanding High Court
litigation actions have been resolved.
Spot tin prices on the European free market are currently
around 4,200 stg per tonne for high grade metal in warehouse
Rotterdam. Over the past 18 months the price moved to a ten
year low of 3,400 stg in March 1986 and rebounded to as high as
4,680 stg in December 1986.
This compares with 8,140 stg last paid when LME trading
ceased in October 1985 and a record high tin price of 10,350
stg traded for Cash Standard Grade metal in June of that year.
LME warehouse stocks are now near a two-year low at 28,065
tonnes, having fallen steadily from a record high of 72,485
tonnes reached in February 1986.
Traders said the free market turned bullish during late
last year based on producer forecasts of a supply/demand
deficit of some 28,000/29,000 tonnes. Analysts were predicting
prices of up to 5,000 stg per tonne during 1987.
However, the trend was reversed following a strong upswing
in sterling versus the dollar and values fell back briefly to
4,100 stg last month after approaching 4,700 stg in December.
The decline accelerated as producers who had sold very
little metal at the higher levels became competitive sellers.
There was also a lack of significant demand from major
steel mills who made large purchases prior to the new year.
Traders say the 15 ITC creditor banks' original tin
holdings of nearly 45,000 tonnes have now been almost halved,
and the bulk of material still available is being held by
Malaysian and Japanese firms which are reluctant to depress the
market with unwanted metal.
Some 80,000 tonnes were held by banks and brokers after the
International Tin Council's, ITC, buffer stock manager halted
support operations on the LME on behalf of the 22 members
nations of the International Tin Agreement.
The overhang of metal was reduced further by broker
Shearson Lehman Brothers, which earlier this year reported
having sold its ITC-related holdings and halved its overall tin
position.
Analysts see no immediate sign of a rally in European tin
prices and movements are still expected to be largely related
to currency fluctuations, unless significant consumer demand
emerges for the third quarter.
The Association of Tin Producing Countries, ATPC, has made
efforts since the collapse of the ITA to achieve higher world
prices by attempting to bring all major producers under an
export control umbrella, but to date Brazil and China, two
major producers, remain unaffected by the ATPC argument and
apparently are continuing to offer material at discounts to
consumers in main European trading centres, dealers said.
|
test/17733 | test/17733 |@title icco:1 |@word buffer:2 stock:2 manager:2 buy:2 5:2 000:2 tonne:2 cocoa:2 tuesday:2 june:2 2:2 official:2 icco:1 | ICCO buffer stock manager to buy 5,000 tonnes cocoa Tuesday, June 2 - official
ICCO buffer stock manager to buy 5,000 tonnes cocoa Tuesday, June 2 - official
|
test/17738 | test/17738 |@title co:1 operative:1 cobk:1 complete:1 acquisition:1 |@word co:4 operative:4 bancorp:1 say:2 complete:1 acquisition:1 issue:1 outstanding:1 stock:1 quincy:3 bank:2 qbck:1 agreement:1 stockholder:1 receive:1 30:1 dlrs:2 cash:1 share:1 total:1 transaction:1 approximately:1 50:1 mln:1 | CO-OPERATIVE <COBK.O> COMPLETES ACQUISITION
Co-operative Bancorp said it
completed the acquisition of all the issued and outstanding
stock of the Quincy Co-operative Bank <QBCK.O>.
Under the agreement, Quincy stockholders will receive 30
dlrs cash for each share owned of the Quincy Co-operative Bank,
for a total transaction of approximately 50 mln dlrs,
Co-operative said.
|
test/17742 | test/17742 |@title reagan:2 say:2 u:2 ally:2 must:2 honor:2 accord:2 exchange:2 rate:2 stability:2 |@word | REAGAN SAYS U.S., ALLIES MUST HONOR ACCORDS ON EXCHANGE RATE STABILITY
REAGAN SAYS U.S., ALLIES MUST HONOR ACCORDS ON EXCHANGE RATE STABILITY
|
test/17743 | test/17743 |@title monsanto:1 mtc:1 acquire:1 rhone:1 poulenc:1 asset:1 |@word monsanto:2 co:1 say:2 acquire:2 certain:1 commerical:1 asset:2 rhone:1 poulenc:1 chimie:1 polyphenyl:2 business:2 term:1 transaction:1 disclose:1 among:1 worldwide:1 include:1 biphenyl:1 heat:1 transfer:1 fluid:1 gilotherm:1 th:1 together:1 associate:1 manufacturing:1 application:1 technology:1 | MONSANTO <MTC> TO ACQUIRE RHONE-POULENC ASSETS
Monsanto Co said it is acquiring
certain commerical assets of <Rhone-Poulenc Chimie's>
polyphenyl business.
Terms of the transaction were not disclosed.
Among the assets being acquired are its polyphenyl business
worldwide, including biphenyl and the heat transfer fluid
Gilotherm TH, together with associated manufacturing and
application technology, Monsanto said.
|
test/17746 | test/17746 |@title info:1 datum:1 acquire:1 usa:1 outdoor:1 advertising:1 |@word info:3 data:2 inc:4 say:3 acquire:2 usa:3 outdoor:3 advertising:3 jacksonville:1 fla:1 exchange:1 stock:1 62:1 4:1 pct:1 outstanding:1 share:1 company:2 datum:1 plan:1 change:2 name:1 reflect:1 operation:1 | INFO-DATA TO ACQUIRE USA OUTDOOR ADVERTISING
<Info-Data Inc> said it
will acquire <USA Outdoor Advertising Inc> of Jacksonville,
Fla., in exchange for stock.
USA Outdoor Advertising was acquired for 62.4 pct of the
outstanding shares of Info-Data Inc, the company said.
Info-Data said it plans to change its name to USA Outdoor
Advertising Inc to reflect the change in the company's
operations.
|
test/17748 | test/17748 |@title reagan:1 urge:1 fulfillment:1 exchange:1 accord:1 |@word president:1 reagan:2 prepare:1 depart:1 venice:1 economic:2 summit:2 wednesday:1 say:3 united:1 states:1 ally:1 must:1 fulfill:1 agreement:1 exchange:1 rate:1 stability:1 policy:1 decision:1 make:2 last:1 year:2 tokyo:1 meeting:2 group:1 7:1 finance:1 minister:1 paris:1 washington:1 ignore:1 forget:1 commitment:1 need:1 translate:1 action:1 pre:1 speech:1 celebrate:1 40th:1 anniversary:1 marshall:1 plan:1 | REAGAN URGES FULFILLMENT OF EXCHANGE ACCORDS
President Reagan, preparing to depart
for the Venice economic summit on Wednesday, said the United
States and its allies must fulfill agreements on exchange rate
stability.
'Economic policy decisions made last year in Tokyo, and at
this year's meetings of Group of 7 Finance ministers in Paris
and in Washington, cannot be ignored or forgotten,' he said.
'The commitments made at these meetings need to be
translated into action,' Reagan said in a pre-summit speech
celebrating the 40th anniversary of the Marshall Plan.
|
test/17749 | test/17749 |@title uni:1 marts:1 imma:1 acquire:1 gas:1 n:1 store:1 |@word uni:2 marts:1 inc:2 say:2 acquire:1 seven:1 gas:1 n:1 convenience:2 store:2 undisclosed:1 amount:1 cash:1 acquisition:1 bring:1 228:1 number:1 mart:1 company:1 | UNI-MARTS <IMMA.O> ACQUIRES GAS-N-ALL STORES
Uni Marts Inc said it acquired
seven <Gas-N-All Inc> convenience stores for an undisclosed
amount of cash.
The acquisition bring to 228 the number of convenience
stores owned by Uni-Marts, the company said.
|
test/17750 | test/17750 |@title reagan:1 hint:1 u:1 want:1 help:1 patrol:1 gulf:1 |@word president:1 reagan:8 say:6 would:2 discuss:2 mideast:2 gulf:4 situation:1 allied:2 leader:2 next:1 week:1 venice:3 economic:4 summit:4 hint:1 seek:1 help:1 preserve:2 free:2 navigation:1 speech:2 prepare:1 delivery:1 united:1 states:1 make:4 plan:3 protect:4 11:1 kuwaiti:1 oil:2 tanker:1 iranian:1 attack:2 american:1 people:1 aware:1 interest:3 alone:2 ally:2 dependence:1 secret:1 declare:1 upcoming:1 common:1 security:1 share:1 western:1 democracy:2 future:1 belong:1 brave:1 man:1 cower:1 challenge:1 expect:1 stand:1 meet:1 britain:1 france:1 west:2 germany:3 italy:1 canada:1 japan:3 take:2 place:2 june:1 8:1 10:1 13th:1 annual:1 top:1 level:1 meeting:3 major:1 industrial:1 backdrop:1 rise:1 congressional:1 concern:2 shipping:1 demand:1 heighten:1 may:1 17:1 iraqi:1 missile:1 u:2 frigate:1 stark:1 kill:1 37:1 seaman:1 die:1 guard:1 chokepoint:1 freedom:1 deter:1 aggression:1 reaffirm:1 america:1 willingness:1 vital:1 pre:1 celebrate:1 40th:1 anniversary:1 marshall:1 speak:1 audience:1 foreign:1 affair:1 expert:1 also:1 pledge:1 push:1 expansion:2 bolster:2 world:5 trading:3 system:2 vibrancy:1 economy:2 contribute:1 enormously:1 grow:1 business:1 every:1 member:1 community:1 clear:1 especially:1 friend:1 federal:1 republic:1 growth:1 orient:1 domestic:1 policy:2 need:2 depend:1 couple:1 appeal:1 call:1 compliance:1 accord:1 exchange:1 rate:1 stability:1 decision:1 last:1 year:2 tokyo:1 group:1 seven:1 finance:1 minister:1 paris:1 washington:1 ignore:1 forget:1 commitment:1 translate:1 action:1 | REAGAN HINTS U.S. WANTS HELP IN PATROLLING GULF
President Reagan said he would discuss
the Mideast Gulf situation with allied leaders at next week's
Venice economic summit and hinted he would seek their help in
preserving free navigation.
In a speech prepared for delivery as the United States made
plans to protect 11 Kuwaiti oil tankers from Iranian attack,
Reagan said the American people were aware that 'it is not our
interests alone that are being protected.'
Saying that allied dependence on gulf oil was no secret,
Reagan declared, 'During the upcoming summit in Venice, we will
be discussing the common security interests shared by the
western democracies in the MIDEAST Gulf.
'The future belongs to the brave. Free men should not cower
before such challenges, and they should not expect to stand
alone.'
Reagan will meet the leaders of Britain, France, West
Germany, Italy, Canada and Japan at the economic summit, which
will take place in Venice June 8-10.
The 13th annual top-level meeting of the major industrial
democracies will take place against a backdrop of rising
congressional concern over Reagan's plan to protect gulf
shipping and demands that the allies do more.
These concerns were heightened by the May 17 Iraqi missile
attack on the U.S. frigate Stark which killed 37 seamen.
'They died while guarding a chokepoint of freedom, deterring
aggression and reaffirming America's willingness to protect its
vital interests,' Reagan said.
In a pre-summit speech celebrating the 40th anniversary of
the Marshall Plan, Reagan, who spoke to an audience of foreign
affairs experts, also pledged to push for economic expansion by
West Germany and Japan to bolster the world trading system.
'While the vibrancy of the U.S. economy has contributed
enormously to the world expansion, preserving a growing world
economy is the business of every member of the world trading
community,' he said.
'It will be made clear, especially to our friends in Japan
and the Federal Republic of Germany, that growth-oriented
domestic policies are needed to bolster the world trading
system on which they depend.'
Reagan coupled this appeal with a call for compliance with
allied accords on exchange rate stability.
'Economic policy decisions made last year in Tokyo and at
this year's meetings of Group of Seven finance ministers in
Paris and in Washington cannot be ignored or forgotten,' he
said. 'The commitments made at these meetings need to be
translated into action.'
|
test/17751 | test/17751 |@title merrill:1 corp:1 mrll:1 1st:1 qtr:1 april:1 30:1 net:1 |@word shr:1 21:1 ct:2 vs:4 20:1 net:1 965:1 000:2 726:1 revs:1 13:1 4:2 mln:2 11:1 8:1 avg:1 shrs:1 606:1 242:1 3:1 624:1 528:1 | MERRILL CORP <MRLL.O> 1ST QTR APRIL 30 NET
Shr 21 cts vs 20 cts
Net 965,000 vs 726,000
Revs 13.4 mln vs 11.8 mln
Avg shrs 4,606,242 vs 3,624,528
|
test/17752 | test/17752 |@title advanced:1 telecommunications:1 atel:1 buy:1 co:1 |@word advanced:1 telecommunications:1 corp:1 say:2 reach:1 agreement:1 principle:1 purchase:1 teltec:1 saving:1 communications:1 co:1 long:1 distance:1 telephone:1 service:1 florida:1 propose:1 acquisition:1 price:1 approximately:1 17:1 5:1 mln:1 dlrs:1 cash:1 company:1 | ADVANCED TELECOMMUNICATIONS <ATEL.O> TO BUY CO
Advanced Telecommunications Corp
said it reached an agreement in principle to purchase <Teltec
Savings Communications Co>, a long distance telephone service
in Florida.
The proposed acquisition price is approximately 17.5 mln
dlrs in cash, the company said.
|
test/17753 | test/17753 |@title odetics:1 inc:1 oa:1 ob:1 4th:1 qtr:1 march:1 31:1 net:1 |@word shr:2 seven:1 ct:4 vs:6 eight:1 net:2 278:1 000:5 340:1 revs:2 11:1 4:1 mln:3 8:1 871:1 year:1 three:1 one:1 113:1 33:2 39:1 7:1 1:1 | ODETICS INC <OA/OB> 4TH QTR MARCH 31 NET
Shr seven cts vs eight cts
Net 278,000 vs 340,000
Revs 11.4 mln vs 8,871,000
Year
Shr three cts vs one ct
Net 113,000 vs 33,000
Revs 39.7 mln vs 33.1 mln
|
test/17755 | test/17755 |@title additional:1 ccc:1 credit:1 guarantee:1 korea:1 usda:1 |@word commodity:2 credit:2 corporation:1 ccc:1 reallocate:1 50:1 0:1 mln:7 dlrs:4 guarantee:3 previously:1 announce:1 undesignated:2 line:5 provide:1 additional:1 sale:1 feedgrain:1 oilseed:2 wheat:2 south:1 korea:1 u:1 agriculture:1 department:2 say:3 action:1 increase:1 feed:1 grain:1 23:1 63:1 seven:1 52:1 20:1 165:1 reduce:1 zero:1 delivery:1 current:1 fiscal:1 year:1 end:1 september:1 30:1 | ADDITIONAL CCC CREDIT GUARANTEES FOR KOREA--USDA
The Commodity Credit Corporation (CCC)
has reallocated 50.0 mln dlrs in credit guarantees from the
previously announced undesignated line to provide additional
guarantees for sales of feedgrains, oilseeds, and wheat to
South Korea, the U.S. Agriculture Department said.
The department said the action increases the feed grains
line by 23 mln dlrs to 63 mln, the oilseed line by seven mln
dlrs to 52 mln, and the wheat guarantee line by 20 mln to 165
mln dlrs.
The undesignated line is reduced to zero.
The commodities are for delivery during the current fiscal
year ending this September 30, it said.
|
test/17757 | test/17757 |@title basin:2 pipeline:2 texas:2 okla:2 border:2 wash:2 flood:2 300:2 000:2 bpd:2 crude:2 affect:2 |@word | BASIN PIPELINE TEXAS/OKLA BORDER WASHED OUT BY FLOODS SOME 300,000 BPD CRUDE AFFECTED.
BASIN PIPELINE TEXAS/OKLA BORDER WASHED OUT BY FLOODS SOME 300,000 BPD CRUDE AFFECTED.
|
test/17758 | test/17758 |@title ccc:1 interest:1 higher:1 june:1 usda:1 say:1 |@word interest:3 rate:4 commodity:2 loan:1 disburse:1 credit:1 corporation:1 ccc:2 month:1 carry:1 6:2 7:1 8:1 pct:2 u:2 agriculture:1 department:1 say:1 may:1 1:1 4:1 reflect:1 charge:1 treasury:1 june:1 usda:1 note:1 | CCC INTEREST HIGHER IN JUNE, USDA SAYS
Interest rates on commodity loans
disbursed by the Commodity Credit Corporation (CCC) this month
will carry a 6-7/8 pct interest rate, the U.S. Agriculture
Department said.
That is up from the May rate of 6-1/4 pct and reflects the
interest rate charged the CCC by the U.S. Treasury in June,
USDA noted.
|
test/17759 | test/17759 |@title andriessen:1 hint:1 fat:1 oil:1 tax:1 could:1 go:1 summit:1 |@word european:2 community:1 ec:3 agriculture:1 commissioner:1 fran:1 andriessen:2 say:1 proposal:1 tax:3 330:1 currency:1 unit:1 per:1 tonne:1 oil:3 fat:2 likely:1 go:1 discussion:1 next:1 week:1 summit:1 meeting:1 leader:1 farm:2 minister:1 unable:1 agree:1 one:1 main:1 item:1 propose:1 1987:1 88:1 price:1 package:1 would:1 apply:1 domestically:1 produce:1 import:1 fiercely:1 oppose:1 united:1 states:1 develop:1 country:1 vegetable:1 marine:1 producer:1 | ANDRIESSEN HINTS FATS/OIL TAX COULD GO TO SUMMIT
European Community (EC)
Agriculture Commissioner Frans Andriessen said his proposal for
a tax of up to 330 European Currency Units per tonne on oils
and fats was likely to go up for discussion at next week's
summit meeting of EC leaders.
EC farm ministers have been unable to agree the tax, one of
the main items proposed by Andriessen for the 1987-88 farm
price package.
The tax, which would apply on both domestically-produced
and imported oils and fats, has been fiercely opposed by the
United States and developing countries' vegetable and marine
oil producers.
|
test/17760 | test/17760 |@title bilzerian:1 prepare:1 tender:1 pay:1 n:1 pak:1 pnp:1 |@word investor:1 paul:1 bilzerian:8 say:16 pay:5 n:5 pak:5 stores:1 inc:2 enter:1 merger:1 accord:1 immediately:2 begin:1 tender:3 offer:8 7:2 5:2 mln:4 share:6 20:3 dlrs:9 per:4 cash:2 tell:1 reuters:1 believe:1 superior:1 leveraged:1 buyout:5 proposal:4 disclose:1 announcement:1 company:5 morning:1 evaluate:1 bilizerian:1 optimistic:1 accept:2 meeting:2 board:2 director:1 wednesday:1 official:1 available:2 comment:1 pool:1 150:1 raise:1 shearson:1 lehman:1 brothers:1 may:3 add:1 bank:1 submit:1 agreement:1 prepared:1 sign:1 would:3 exchangeable:1 convertible:1 prefer:1 stock:3 ask:2 happen:1 leverage:2 group:2 identify:2 top:3 expect:2 opportunity:1 respond:1 give:1 detail:1 contingent:1 financing:1 agrreement:1 regard:1 management:2 equity:1 participation:1 understanding:1 particpation:1 nominal:1 fall:1 1:3 2:3 19:1 arbitrageur:3 disappointment:1 neither:1 north:1 21:1 22:1 one:2 plan:2 17:1 50:2 13:1 pct:1 cumulative:1 preferred:1 robert:1 cheadle:1 analyst:2 montgomery:1 securities:2 industry:1 make:2 bid:1 scott:1 drysdale:2 birr:1 wilson:1 good:1 strategic:1 move:1 year:2 right:2 thing:1 time:1 result:2 earning:4 steadily:1 decline:1 since:2 1984:1 57:1 ct:1 report:1 fiscal:1 end:1 february:1 low:2 1978:1 total:1 revenue:1 398:1 4:1 better:1 train:1 sale:1 people:1 many:1 competitor:2 compete:1 price:1 even:1 though:1 cost:1 squeeze:1 margin:1 note:1 publicly:1 bidder:2 step:1 forward:1 reject:1 early:1 mid:1 april:1 another:2 late:1 get:1 game:1 speculate:1 someone:1 home:1 improvement:1 business:1 able:1 deal:1 | BILZERIAN PREPARED TO TENDER FOR PAY N'PAK <PNP>
Investor Paul Bilzerian said if Pay N'
Pak Stores Inc enters into a merger accord with him he will
immediately begin a tender offer for 7.5 mln shares for 20 dlrs
per share in cash.
Bilzerian told Reuters he believes his offer is superior to
a leveraged buyout proposal disclosed in an announcement by the
company this morning.
The company said it is evaluating both proposals.
Bilizerian said he was optimistic his offer will be accepted at
a meeting of the board of directors Wednesday. Officials of Pay
N' Pak did were not immediately available for comment.
Bilzerian said he has a pool of 150 mln dlrs raised by
Shearson Lehman Brothers Inc available for the tender and 'we
may add a bank to that.'
'We've submitted an agreement we're prepared to sign,' he
said. Shares not accepted in Bilzerian's tender would be
exchangeable for 20 dlrs in convertible preferred stock.
Asked what would happen if the leveraged buyout group,
which the company did not identify, topped his offer between
now and the board meeting, Bilzerian said he expected an
opportunity to respond.
Pay N' Pak gave no details about the buyout group, but did
say the offer was contingent on financing and on an agrreement
regarding management's equity participation.
Bilzerian said it was his understanding that the management
particpation was 'nominal.'
Pay N' Pak fell 1-1/2 to 19. Arbitrageurs said there was
disappointment that neither of the offers topped 20 dlrs.
'We were expecting an offer north of (above) 21 or 22
dlrs,' said one arbitrageur. The leveraged buyout plan was for
17.50 dlrs per share in cash and 2.50 dlrs in 13-1/2 pct
cumulative preferred stock.
Robert Cheadle, analyst at Montgomery Securities, said 'you
have to ask yourself why no one in the industry made a bid.'
Scott Drysdale, analyst at Birr Wilson Securities, said the
company has not made the best strategic moves over the years.
'They have not done the right things at the right time,' he
said, and as a result earnings per share have steadily declined
since 1984. The 57 cts per share in earnings reported for the
fiscal year ended in February was lower than 1978's earnings,
he said. Earnings totaled 5.7 mln dlrs on revenue of 398.4 mln
dlrs.
Drysdale said Pay N' Pak has better trained sales people
than many competitors, but it competes on price even though
competitors have lower costs. The result is squeezed margins.
He noted that there have been no other publicly identified
bidders stepping forward since the company rejected an earlier
Bilzerian proposal in mid-April.
Another arbitrageur said it might not be too late for
another bidder to get in the game. He speculated that someone
in the same home improvement business might be able to offer a
deal for stock that would top both the buyout proposal and
Bilzerian's plan.
|
test/17762 | test/17762 |@title forstmann:2 little:2 co:2 say:2 plan:2 sell:2 sybron:2 corp:2 unit:2 |@word | FORSTMANN LITTLE AND CO SAID IT PLANS TO SELL SYBRON CORP UNIT
FORSTMANN LITTLE AND CO SAID IT PLANS TO SELL SYBRON CORP UNIT
|
test/17763 | test/17763 |@title pharmacontrol:1 phar:1 acquire:1 revco:1 unit:1 |@word pharmacontrol:4 corp:1 say:5 acquire:1 private:3 formulations:1 inc:2 revco:3 six:1 mln:3 dlrs:5 cash:1 13:1 550:3 000:4 dlr:1 promissory:1 note:2 warrant:1 buy:1 200:1 common:2 share:1 purchase:1 price:1 finance:1 along:1 one:1 work:1 capital:1 secure:2 institutional:2 financing:2 company:2 betweenm:1 11:1 12:2 f:1 principal:1 amount:1 plus:1 accrue:1 interest:1 payable:2 june:1 30:1 balance:1 three:1 year:1 expect:2 make:1 payment:1 due:1 proceed:1 propose:1 offering:1 unit:1 consist:1 convertible:1 subordinated:1 debenturer:1 stock:1 currently:1 file:1 securities:1 exchange:1 commission:1 upon:1 close:1 public:1 offer:1 increase:1 total:1 formulation:1 primarily:1 engage:1 manufacture:1 distribution:1 vitamin:1 label:1 counter:1 pharmaceutical:1 product:1 | PHARMACONTROL <PHAR.O> ACQUIRES REVCO UNIT
PharmaControl Corp said it
acquired Private Formulations Inc from <Revco D.S. Inc> for six
mln dlrs in cash, a 13,550,000 dlr promissory note and warrants
to buy 200,000 PharmaControl common shares.
PharmaControl said the purchase price was financed, along
with one mln dlrs in working capital, through secured
institutional financing.
The company said betweenm 11,550,000 dlrs and 12,550,000
dlrs f the principal amount of the Revco note, plus accrued
interest, is payable June 30. The balance is payable over three
years.
PharmaControl said it expects to make the payment due to
Revco from proceeds of a proposed offering of units consisting
of convertible subordinated debenturers and common stock
currently on file with the Securities and Exchange Commission.
Upon closing of the public offering, the company said, it
expects the secured institutional financing to increase to a
total of 12 mln dlrs.
Private Formulations is primarily engaged in the
manufacture and distribution of vitamins and private label
over-the-counter pharmaceutical products.
|
test/17766 | test/17766 |@title fisher:1 shareholder:1 indecisive:1 stock:1 buy:1 |@word fisher:5 foods:2 inc:2 fhr:1 say:5 5300:5 richmond:1 road:1 corp:1 large:1 shareholder:1 yet:1 reach:1 definitive:1 decision:2 whether:1 buy:1 fish:1 stock:2 possible:3 merger:1 tender:1 offer:1 another:1 acquisition:2 proposal:3 delaware:1 corporation:1 form:1 american:1 seaways:1 rini:1 holding:1 co:1 rego:1 company:1 1:2 5:1 mln:1 share:1 44:1 pct:1 outstanding:1 common:1 announce:1 april:1 20:1 would:2 make:1 june:1 move:2 also:2 tell:1 continue:2 explore:1 advantage:1 disadvantage:1 various:2 discuss:1 financial:1 group:1 financing:2 give:1 indication:1 finalize:1 | FISHER SHAREHOLDER INDECISIVE OVER STOCK BUY
Fisher Foods Inc <FHR> said
<5300 Richmond Road Corp>, its largest shareholder, has not yet
reached a definitive decision about whether it will buy more
Fisher stock through a possible merger, tender offer or another
acquisition proposal.
5300 is a Delaware corporation formed by <American Seaways
Foods Inc>, <Rini Holding Co> and <Rego Companies> which owns
1.5 mln shares of Fisher, or about 44 pct of its outstanding
common stock.
Fisher said 5300 had announced on April 20 that they would
make a decision on June 1 about the move.
Fisher said 5300 also told it they will continue to explore
possible advantages and disadvantages of various acquisition
proposals.
5300 also said it is continuing to discuss with various
financial groups about possible financing for such a move, but
gave no indication of when any financing or proposal would be
finalized, Fisher said.
|
test/17767 | test/17767 |@title u:2 exporter:2 report:2 150:2 000:2 tonne:2 barley:2 sell:2 saudi:2 arabia:2 1987:2 88:2 usda:2 |@word | U.S. EXPORTERS REPORT 150,000 TONNES OF BARLEY SOLD TO SAUDI ARABIA FOR 1987/88-USDA
U.S. EXPORTERS REPORT 150,000 TONNES OF BARLEY SOLD TO SAUDI ARABIA FOR 1987/88-USDA
|
test/17769 | test/17769 |@title barley:1 sell:1 saudi:1 arabia:1 usda:1 |@word private:1 exporter:1 report:1 sale:1 150:1 000:1 tonne:1 barley:2 saudi:1 arabia:1 delivery:1 1987:2 88:2 season:2 u:1 agriculture:1 deapartment:1 say:1 begin:1 today:1 | BARLEY SOLD TO SAUDI ARABIA - USDA
Private exporters reported sales of
150,000 tonnes of barley to Saudi Arabia for delivery in the
1987/88 season, the U.S. Agriculture Deapartment said.
The 1987/88 season for barley begins today.
|
test/17770 | test/17770 |@title u:2 bancorp:1 usbc:1 acquisition:1 approval:1 |@word bancorp:4 oregon:1 say:2 advise:2 orally:1 application:1 acquisition:3 old:4 national:4 approve:1 board:1 governor:1 federal:1 reserve:1 company:1 also:1 receive:1 feed:1 approval:1 heritage:1 bank:2 camas:1 wash:1 conversion:1 subsidiary:1 u:3 thrift:1 loan:1 salt:1 lake:1 city:1 utah:1 commercial:1 january:1 reach:1 definitive:1 agreement:1 cover:1 stock:2 already:1 171:1 mln:1 dlrs:1 currently:1 4:1 9:1 pct:1 | U.S. BANCORP <USBC.O> HAS ACQUISITION APPROVAL
U.S. Bancorp (Oregon) said it has
been advised orally that its application for the acquisition of
Old National Bancorp has been approved by the Board of
Governors of the Federal Reserve.
The company said it has also been advised that it has
received Fed approvals for its acquisition of Heritage Bank of
Camas, Wash., and for its conversion of its subsidiary, U.S.
Thrift and Loan of Salt Lake City, Utah, into a commercial
bank.
In January U.S. Bancorp and Old National reached a
definitive agreement covering the acquisition of all the stock
of Old National which it does not already own for 171 mln dlrs.
U.S. Bancorp currently owns 4.9 pct of Old National's
stock.
|
test/17771 | test/17771 |@title major:1 u:1 oil:1 pipeline:1 shut:1 flood:1 |@word flood:3 red:4 river:5 texas:5 oklahoma:1 border:1 shut:1 basin:2 pipeline:16 24:1 inch:1 transport:1 much:1 300:1 000:1 barrel:4 per:1 day:3 sweet:2 sour:4 crude:7 cushing:1 okla:1 texaco:5 co:2 spokesman:1 confirm:1 water:4 rush:1 fast:1 get:1 diver:1 assess:1 damage:3 possibility:1 could:1 end:1 week:1 company:2 source:2 say:8 transmit:1 roughly:1 two:1 third:2 one:2 oil:5 midland:1 region:1 service:1 restore:2 friday:1 would:3 little:1 problem:1 lose:1 10:1 difficult:1 make:1 without:1 proratione:1 like:1 proration:1 jointly:1 atlantic:1 richfield:1 corp:1 arc:1 shell:2 subsidiary:1 royal:1 dutch:1 group:1 rd:1 inc:2 tx:1 operator:1 peter:1 beutel:1 analyst:1 elders:1 futures:1 future:2 contract:1 new:2 york:1 mercantile:1 exchange:1 rise:2 high:1 afternoon:1 follow:1 news:3 break:1 july:1 west:2 intermediate:1 trade:1 19:2 60:2 dlrs:2 20:1 ct:2 cash:1 market:1 price:1 also:1 firm:1 seller:1 wti:2 raise:1 offer:1 affect:2 shutdown:1 however:1 slow:1 react:1 alaska:1 north:1 slope:1 hold:1 50:1 dlr:1 respectively:1 dan:1 stevens:4 manager:1 public:1 government:1 affair:1 hope:1 fix:1 five:1 depend:1 level:2 recedes:1 already:1 evidence:1 drop:1 appear:1 rain:1 stop:1 area:1 segment:1 underground:1 distance:1 run:2 subsoil:2 nearby:2 accord:1 apparently:1 wash:1 away:1 potential:1 environmental:1 downplay:1 time:1 despite:1 volume:1 line:1 aerial:1 surveillance:1 find:1 lake:1 texoma:1 | MAJOR U.S. OIL PIPELINE SHUT DOWN BY FLOODS
Flooding in the Red River on the
Texas/Oklahoma border has shut down the Basin Pipeline, a
24-inch pipeline that transports as much as 300,000 barrels per
day of sweet and sour crudes from Texas to Cushing, Okla, a
Texaco Pipeline Co spokesman confirmed.
'The water is rushing by so fast that we can't get any
divers down to assess the damage but there is some possibility
that the pipeline could be up by the end of the week,' a company
source said.
The pipeline transmits roughly two-thirds sour crude and
one-third sweet crude oil from the Midland, Texas region.
Texaco sources said that if the pipeline service is
restored by Friday there would be little problem in restoring
oil which has been lost to the flood.
'But if the pipeline is down more than 10 days it will be
difficult to make up without prorationing and we would not like
to proration this pipeline, if we don't have to.'
The Basin Pipeline is jointly owned by Atlantic Richfield
Corp <ARC>, Shell Oil Co, a subsidiary of the Royal Dutch/Shell
Group <RD> and Texaco Inc <TX>, which is the pipeline's
operator.
Peter Beutel, analyst at Elders Futures Inc, said crude
oil futures contracts on New York Mercantile Exchange rose to
new highs this afternoon following news of the pipeline break.
July crude futures of West Texas Intermediate traded up to
19.60 dlrs a barrel, a rise of more than 20 cts.
Cash market prices also firmed on the news with sellers of
WTI raising offers to 19.60 dlrs a barrel.
Sour crudes, which would be most affected by the pipeline
shutdown, however, were slow to react to the news with West
Texas Sour and Alaska North Slope holding 50 cts to one dlr a
barrel below WTI, respectively.
Dan Stevens, manager of public and government affairs at
Texaco, said the company hopes to fix the pipeline in five days
but that will depend on when the water level of the Red River
recedes. There is already evidence that the water level is
dropping and it appears the rain has stopped in the area
affecting the pipeline, Stevens said.
He said the segment of the pipeline that was damaged was
underground and at a distance from the Red River that flooded.
The pipeline runs over the Red River and under the subsoil
nearby, according to Stevens. He said some of this subsoil was
apparently washed away.
The potential for environmental damage is being downplayed
at this time despite the volume of oil that runs through this
line.
Texaco's Stevens said that aerial surveillance has not
found any crude on the water in the river or in Lake Texoma,
which is nearby.
|
test/17773 | test/17773 |@title british:1 land:1 america:1 inc:1 bla:1 year:1 march:1 31:1 |@word shr:1 loss:4 36:1 ct:2 vs:4 57:1 net:1 4:1 589:1 000:2 7:2 339:1 revs:1 19:2 9:1 mln:4 6:1 avg:1 shrs:1 14:1 13:1 3:1 note:1 company:1 subsidiary:1 british:1 land:1 co:1 plc:1 | BRITISH LAND OF AMERICA INC <BLA> YEAR MARCH 31
Shr loss 36 cts vs loss 57 cts
Net loss 4,589,000 vs loss 7,339,000
Revs 19.9 mln vs 19.6 mln
Avg shrs 14.7 mln vs 13.3 mln
NOTE: Company is a subsidiary of <British Land Co PLC>
|
test/17775 | test/17775 |@title forstmann:1 little:1 co:1 sell:1 unit:1 |@word forstman:1 little:3 co:2 say:3 plan:1 sell:1 sybron:4 corp:1 unit:1 lead:1 maker:1 marketer:1 dental:1 laboratory:1 product:1 undisclosed:1 sum:1 forstmann:1 acquire:1 february:1 1986:1 since:1 time:1 substantially:1 restructure:1 new:2 management:1 low:1 corporate:1 overhead:1 location:1 saddle:1 brook:1 n:1 j:1 fortsmann:1 goldman:1 sachs:1 act:1 financial:1 advisor:1 move:1 add:1 expect:1 revenue:1 current:1 fiscal:1 year:1 242:1 mln:2 dlrs:2 operate:1 income:1 51:1 | FORSTMANN LITTLE AND CO TO SELL UNIT
<Forstman Little and Co> said it plans
to sell its Sybron Corp unit, a leading maker and marketer of
dental and laboratory products, for an undisclosed sum.
Forstmann Little said it acquired Sybron in February 1986
and since that time Sybron has been substantially restructured,
with new management, lower corporate overhead and a new
location in Saddle Brook, N.J.
Fortsmann Little said <Goldman Sachs and Co> will act as
its financial advisor for the move. It added that Sybron
expects revenues for the current fiscal year of 242 mln dlrs
with operating income of about 51 mln dlrs.
|
test/17776 | test/17776 |@title takeover:1 speculation:1 lift:1 hutton:1 efh:1 shares:1 e:1 f:1 |@word hutton:8 group:1 inc:2 share:1 rise:2 speculation:5 company:2 would:2 receive:2 takeover:2 offer:3 trader:4 say:8 stock:4 also:1 affect:1 newspaper:3 report:1 first:2 boston:2 corp:1 fbc:1 accumulate:1 almost:1 five:1 pct:1 behalf:1 outside:1 client:1 story:2 appear:1 usa:1 today:3 add:1 begin:1 street:1 last:1 week:1 rumor:3 accumulation:1 abound:1 soon:1 official:2 decline:1 comment:2 2:1 1:1 4:1 39:1 3:1 8:1 several:1 month:1 ago:1 reject:1 buyout:1 shearson:2 lehman:1 brothers:1 mention:1 american:2 express:2 co:1 axp:1 parent:1 possible:1 buyer:2 name:1 immediatley:1 available:1 prudential:1 bache:1 analyst:1 larry:1 eckenfelder:2 doubt:1 believe:1 occassionally:1 surround:1 move:1 result:1 article:1 still:1 candidate:1 | TAKEOVER SPECULATION LIFTS HUTTON <EFH> SHARES
E.F. Hutton Group Inc shares rose on
speculation the company would receive a takeover offer, traders
said.
Hutton's stock also was affected by a newspaper report that
First Boston Corp <FBC> accumulated almost five pct of Hutton's
stock on behalf of an outside client, traders said. Traders
said the story, which appeared in USA Today, added speculation
which began on the street last week. They said there were
rumors the stock was under accumulation and speculation
abounded the company would soon receive an offer. A Hutton
official declined comment. Hutton's stock rose 2-1/4 to 39-3/8.
Hutton several months ago rejected a buyout offer from
Shearson Lehman Brothers Inc <SHE>. The newspaper story
mentioned speculation American Express Co <AXP>, the parent of
Shearson, was a possible buyer. But traders said the rumors
today did not name buyers. First Boston officials were not
immediatley available for comment.
Prudential Bache analyst Larry Eckenfelder said he doubted
the speculation about American Express. He said he believed
Hutton, which is occassionally surrounded by rumors, moved up
today as a result of the newspaper article. 'Hutton is still a
takeover candidate,' said Eckenfelder.
|
test/17777 | test/17777 |@title hong:1 kong:1 firm:1 wrather:1 wco:1 stake:1 28:1 pct:1 |@word industrial:2 equity:2 pacific:1 ltd:2 hong:1 kong:1 investment:1 firm:2 say:2 raise:1 stake:1 wrather:2 corp:1 2:1 025:1 850:1 share:4 28:2 1:3 pct:2 total:2 outstanding:1 common:2 stock:1 808:1 700:1 25:1 filing:1 securities:1 exchange:1 commission:1 principally:1 brierley:1 investments:1 publicly:1 hold:1 new:1 zealand:1 buy:1 217:1 150:1 may:1 29:1 20:1 00:1 dlrs:2 4:1 3:1 mln:1 | HONG KONG FIRM UPS WRATHER <WCO> STAKE TO 28 PCT
Industrial Equity (Pacific) Ltd, a
Hong Kong investment firm, said it raised its stake in Wrather
Corp to 2,025,850 shares, or 28.1 pct of the total outstanding
common stock, from 1,808,700 shares, or 25.1 pct.
In a filing with the Securities and Exchange Commission,
Industrial Equity, which is principally owned by Brierley
Investments Ltd, a publicly held New Zealand firm, said it
bought 217,150 Wrather common shares on May 28 and 29 at 20.00
dlrs a share, or 4.3 mln dlrs total.
|
test/17780 | test/17780 |@title congressman:1 say:1 u:1 unprepared:1 oil:1 cutoff:1 |@word rep:1 mike:1 synar:4 say:4 today:1 president:2 reagan:2 ready:1 use:1 military:3 force:1 protect:3 kuwait:1 tanker:2 gulf:1 united:2 states:2 ill:1 prepared:2 home:1 deal:2 new:1 energy:3 crisis:2 democrat:1 oklahoma:1 make:1 remark:1 comment:1 study:1 general:1 accounting:1 office:1 gao:2 u:3 participation:1 1985:1 test:3 emergency:1 oil:7 share:1 program:1 international:1 agency:1 iea:2 alliance:1 21:1 consume:1 country:1 form:1 1973:1 74:1 arab:1 embargo:1 find:1 way:1 future:1 cutoff:1 take:2 action:3 kuwaiti:2 unwilling:1 less:1 dangerous:1 equally:1 important:1 prepare:1 nation:1 next:1 would:1 oiler:1 assure:1 west:1 continue:1 supply:1 middle:1 east:1 increasingly:1 threaten:1 iranian:1 iraqi:1 war:1 ask:1 report:1 criticism:1 previous:1 successfully:1 advocate:1 limit:1 training:1 participant:1 sharing:1 procedure:1 system:1 mechanical:1 aspect:1 | CONGRESSMAN SAYS U.S. UNPREPARED FOR OIL CUTOFF
Rep. Mike Synar said today that while
President Reagan is ready to use military force to protect
Kuwait tankers in the Gulf, the United States is ill-prepared
at home to deal with a new energy crisis.
Synar, Democrat of Oklahoma, made his remarks in comments
on a study by the General Accounting Office (GAO) on the U.S.
participation in the 1985 test of the emergency oil sharing
program of the International Energy Agency.
The IEA, an alliance of 21 oil consuming countries, was
formed after the 1973-74 Arab oil embargo to find ways to deal
with any future oil cutoff.
Synar said, 'the president is prepared to take military
action to protect Kuwaiti oil tankers but has been unwilling to
take less dangerous, equally-important action to prepare our
nation for the next energy crisis.'
Reagan said the U.S. military would protect Kuwaiti oilers
to assure the West of a continuing supply of Middle East oil,
increasingly being threatened by the Iranian-Iraqi war. Synar,
who asked for the GAO report after criticism of U.S. action in
a previous IEA test, said the United States successfully
advocated a test limited to training participants in oil
sharing procedures and the system's mechanical aspects.
|
test/17782 | test/17782 |@title allied:1 signal:1 ald:1 complete:1 sale:1 mpb:1 corp:1 |@word allied:1 signal:4 inc:1 say:3 complete:1 sale:3 mpb:3 corp:3 unit:2 bear:3 acquisition:4 145:1 mln:2 dlrs:2 plus:1 assumption:1 certain:1 liability:1 headquarter:1 keene:1 n:1 h:1 design:1 make:1 precision:1 ball:1 roller:1 bearing:2 use:1 aerospace:1 ordnance:1 computer:1 application:1 ally:3 1986:1 90:1 note:2 newly:2 form:3 announce:1 may:1 18:1 corporation:1 investor:1 group:1 organize:1 harold:1 geneen:1 donaldson:2 lufkin:2 jenrette:2 securities:1 wells:1 fargo:1 bank:1 provide:2 senior:1 debt:1 financing:2 bridge:1 subordinated:1 preferred:1 stock:2 common:1 amount:1 sufficient:1 fund:1 purchase:1 price:1 add:1 | ALLIED-SIGNAL <ALD> COMPLETES SALE OF MPB CORP
Allied-Signal Inc said it
completed the sale of its MPB Corp unit to Bearing Acquisition
Corp for 145 mln dlrs plus assumption of certain MPB
liabilities.
Headquartered in Keene, N.H., MPB designs and makes
precision ball and roller bearings used in aerospace, ordnance
and computer applications. Allied-Signal said the unit had 1986
sales of over 90 mln dlrs.
It noted the sale to newly formed Bearing Acquisition was
announced May 18.
Allied-Signal said Bearing Acquisition is a newly-formed
corporation owned by an investors group organized by Harold S.
Geneen and Donaldson Lufkin and Jenrette Securities Corp.
Wells Fargo Bank provided senior debt financing to Bearing
Acquisition and Donaldson Lufkin and Jenrette provided bridge
financing in the form of subordinated notes, preferred stock
and common stock in an amount sufficient to fund the purchase
price, Allied-Signal added.
|
test/17783 | test/17783 |@title cominco:1 clt:1 see:1 meet:1 strike:1 union:1 local:1 |@word cominco:4 ltd:1 say:5 expect:1 meet:1 today:1 two:2 five:2 united:1 steelworkers:1 america:1 local:5 strike:2 trail:5 smelter:6 kimberley:3 b:1 c:1 lead:2 zinc:2 mine:2 spokesman:2 meeting:1 schedule:1 three:3 striking:1 reject:2 tentative:1 year:3 contract:3 saturday:1 richard:1 fish:2 pact:1 contain:1 cost:1 living:1 increase:2 tie:1 canadian:2 consumer:1 price:1 index:1 wage:1 81:1 pct:3 membership:1 vote:3 54:1 5:2 45:1 yes:1 union:1 represent:1 2:3 600:2 production:2 maintenance:1 worker:3 remain:1 cover:1 office:2 technical:2 last:3 negotiate:1 may:3 21:1 shut:1 since:1 begin:1 9:1 declare:1 force:1 majeure:1 mean:1 company:1 unable:1 honor:1 product:1 separate:1 expire:1 april:1 30:1 main:1 issue:1 similar:1 400:1 mile:2 east:2 vancouver:2 produce:3 240:1 000:2 long:3 ton:3 110:1 sullivan:1 450:1 mln:2 ore:1 process:1 also:1 cadmium:1 bismuth:1 indium:1 revenue:1 356:1 dlrs:1 1986:1 | COMINCO <CLT.TO> SEES MEETING WITH STRIKING UNION LOCALS
Cominco Ltd said it
expects to meet today with two of five United Steelworkers of
America locals on strike at its Trail smelter and Kimberley,
B.C. lead-zinc mine, a Cominco spokesman said.
It had no meeting scheduled with the other three striking
locals, which rejected a tentative three-year contract
Saturday, Cominco spokesman Richard Fish said.
Fish said the pact that was rejected contained a cost of
living increase tied to the Canadian consumer price index, but
no wage increase. With 81 pct of the membership voting, 54.5
pct voted no and 45.5 pct voted yes, the union said.
The three locals represent about 2,600 production and
maintenance workers, while the remaining two locals cover about
600 office and technical workers.
The office and technical workers last negotiated May 21.
Production at Trail and Kimberley has been shut down since the
strike began May 9 and Cominco has had to declare force
majeure, which means the company may be unable to honor
contracts for products from the smelter and mine.
Each of the five locals have separate contracts, all of
which expired April 30, but the main issues are similar.
The Trail smelter, about 400 miles east of Vancouver,
produced 240,000 long tons of zinc and 110,000 long tons of
lead last year. The Sullivan mine at Kimberley, about 450 miles
east of Vancouver, produced 2.2 mln long tons of ore last year,
most for processing at the Trail smelter.
The smelter also produced cadmium, bismuth and indium.
Trail smelter revenue was 356 mln Canadian dlrs in 1986.
|
test/17784 | test/17784 |@title bass:1 group:1 cut:1 national:1 distillers:1 dr:1 stake:1 |@word investor:1 group:3 lead:1 member:1 bass:2 family:1 fort:1 worth:1 texas:1 say:2 lower:1 stake:2 national:3 distiller:3 chemical:1 corp:1 1:2 159:1 400:1 share:3 3:2 6:1 pct:3 total:1 common:3 727:1 200:1 5:1 filing:1 securities:1 exchange:1 commission:1 sell:1 567:1 800:1 may:1 15:1 29:1 price:1 range:1 59:1 94:1 63:1 44:1 dlrs:1 long:1 five:1 require:1 disclose:1 dealing:1 stock:1 | BASS GROUP CUTS NATIONAL DISTILLERS <DR> STAKE
An investor group led by members of
the Bass family of Fort Worth, Texas, said it lowered its stake
in National Distillers and Chemical Corp to 1,159,400 shares,
or 3.6 pct of the total common, from 1,727,200, or 5.3 pct.
In a filing with the Securities and Exchange Commission,
the Bass group said it sold 567,800 National Distillers common
shares between May 15 and 29 at prices ranging from 59.94 to
63.44 dlrs a share.
As long as the group's stake is below five pct, it is not
required to disclose its further dealings in National
Distillers' common stock.
|
test/17785 | test/17785 |@title republic:1 american:1 rawc:1 ups:1 buckeye:1 bpl:1 stake:1 |@word republic:2 american:2 corp:2 tell:1 securities:1 exchange:1 commission:1 raise:1 stake:1 buckeye:2 partner:1 l:1 p:1 963:1 200:2 limited:1 partnership:1 unit:3 8:1 0:2 pct:2 total:2 744:1 6:1 2:1 control:1 cincinnati:1 ohio:1 financier:1 carl:1 lindner:1 financial:1 say:1 buy:1 219:1 000:1 may:1 14:1 22:2 price:1 range:1 49:1 23:1 02:1 dlrs:2 5:1 mln:1 | REPUBLIC AMERICAN<RAWC.O> UPS BUCKEYE<BPL> STAKE
Republic American Corp told the
Securities and Exchange Commission it raised its stake in
Buckeye Partners L.P. to 963,200 limited partnership units, or
8.0 pct of the total, from 744,200 units, or 6.2 pct.
Republic, which is controlled by Cincinnati, Ohio,
financier Carl Lindner and his American Financial Corp, said it
bought 219,000 Buckeye units between May 14 and 22 at prices
ranging from 22.49 to 23.02 dlrs each, or about 5.0 mln dlrs
total.
|
test/17787 | test/17787 |@title kingsbridge:1 masco:1 set:1 merger:1 |@word kingsbridge:2 holdings:1 ltd:1 say:1 sign:1 letter:1 intent:1 merger:1 masco:2 sports:1 inc:1 transaction:1 call:1 230:1 mln:1 sahre:1 common:1 stock:1 issue:1 shareholder:1 | KINGSBRIDGE, MASCO SET MERGER
Kingsbridge Holdings Ltd, said it signed
a letter of intent for a merger with <Masco Sports Inc>.
The transaction calls for 230 mln sahres of Kingsbridge
common stock to be issued to shareholders of Masco.
|
test/17788 | test/17788 |@title international:1 corona:1 icr:1 2nd:1 qtr:1 net:1 |@word period:1 end:1 march:1 31:1 oper:4 shr:2 profit:4 four:1 ct:4 vs:6 loss:4 17:1 net:2 584:1 000:5 2:1 165:1 revs:2 7:1 493:1 give:2 six:1 mth:1 eight:1 14:2 1:2 177:1 778:1 8:1 mln:1 | INTERNATIONAL CORONA <ICR.TO> 2ND QTR NET
Period ended March 31
Oper shr profit four cts vs loss 17 cts
Oper net profit 584,000 vs loss 2,165,000
Revs 7,493,000 vs not given
SIX MTHS
Oper shr profit eight cts vs loss 14 cts
Oper net profit 1,177,000 vs loss 1,778,000
Revs 14.8 mln vs not given.
|
test/17791 | test/17791 |@title royex:1 gold:1 mining:1 rgm:1 2nd:1 qtr:1 march:1 31:1 net:1 |@word oper:4 shr:3 loss:8 three:1 ct:4 vs:6 one:1 net:3 1:3 796:1 000:8 381:1 revs:2 2:2 501:1 695:1 six:1 mth:1 eight:1 four:1 3:1 235:1 123:1 4:2 850:1 551:1 note:1 1987:1 exclude:1 2nd:1 qtr:1 extraordinary:1 gain:1 87:1 mln:1 dlrs:2 54:1 sale:1 51:1 pct:1 stake:1 mascot:1 gold:2 mines:1 ltd:1 msg:1 full:1 name:1 royex:1 mining:1 corp:1 | ROYEX GOLD MINING <RGM.TO> 2ND QTR MARCH 31 NET
Oper shr loss three cts vs loss one ct
Oper net loss 1,796,000 vs loss 381,000
Revs 2,501,000 vs 2,695,000
SIX MTHS
Oper shr loss eight cts vs loss four cts
Oper net loss 3,235,000 vs loss 1,123,000
Revs 4,850,000 vs 4,551,000
Note: 1987 net excludes 2nd qtr extraordinary gain of 87
mln dlrs or 1.54 dlrs shr from sale of 51 pct stake of Mascot
Gold Mines Ltd <MSG.TO>. Full name Royex Gold Mining Corp.
|
test/17792 | test/17792 |@title dresser:2 industries:2 inc:2 sell:2 reliance:2 standard:2 life:2 insurance:2 rosenkranz:2 unit:2 |@word | DRESSER INDUSTRIES INC TO SELL RELIANCE STANDARD LIFE INSURANCE TO ROSENKRANZ UNIT
DRESSER INDUSTRIES INC TO SELL RELIANCE STANDARD LIFE INSURANCE TO ROSENKRANZ UNIT
|
test/17795 | test/17795 |@title diana:1 corp:1 dna:1 year:1 march:1 28:1 oper:1 net:1 |@word oper:2 shr:1 74:1 ct:5 vs:2 30:1 net:3 3:1 034:1 000:5 1:3 225:1 note:1 1987:1 operate:2 exclude:2 credit:1 043:1 dlrs:3 25:1 share:1 1986:1 discontinue:1 operation:1 84:1 two:1 extraordinary:1 charge:1 119:1 loss:1 27:1 | DIANA CORP <DNA> YEAR MARCH 28 OPER NET
Oper shr 74 cts vs 30 cts
Oper net 3,034,000 vs 1,225,000
NOTE: 1987 operating net excludes credits of 1,043,000 dlrs
or 25 cts a share.
1986 operating net excludes discontinued operations of
84,000 dlrs or two cts, and extraordinary charges of 1,119,000
dlrs or a loss of 27 cts.
|
test/17798 | test/17798 |@title wyse:2 get:1 link:1 technology:1 |@word wyse:3 technology:3 say:2 agree:1 principle:1 acquire:1 privately:1 hold:1 link:2 technologies:1 inc:1 exchange:1 undisclosed:1 amount:1 share:1 develop:1 market:1 computer:1 terminal:1 also:1 | WYSE <WYSE.O> TO GET LINK TECHNOLOGIES
Wyse Technology said it agreed
in principle to acquire privately-held Link Technologies Inc in
exchange for an undisclosed amount of Wyse Technology shares.
Link Technologies develops and markets computer terminals,
Wyse also said.
|
test/17802 | test/17802 |@title mclain:1 industries:1 inc:1 mccl:1 2nd:1 qtr:1 march:1 31:1 |@word shr:2 11:1 ct:4 vs:6 13:1 net:2 234:1 326:1 266:1 653:1 revs:2 5:3 mln:4 8:2 six:1 month:1 21:1 31:1 445:1 509:1 646:1 978:1 9:1 4:1 10:1 | MCLAIN INDUSTRIES INC <MCCL.O> 2ND QTR MARCH 31
Shr 11 cts vs 13 cts
Net 234,326 vs 266,653
Revs 5.5 mln vs 5.8 mln
Six months
Shr 21 cts vs 31 cts
Net 445,509 vs 646,978
Revs 9.4 mln vs 10.8 mln
|
test/17805 | test/17805 |@title cominco:1 seek:1 meeting:1 strike:1 union:1 local:1 |@word cominco:4 ltd:1 say:5 expect:1 meet:1 today:1 two:2 five:2 united:1 steelworkers:1 america:1 local:5 strike:2 trail:5 smelter:6 kimberley:3 b:1 c:1 lead:2 zinc:2 mine:2 spokesman:2 meeting:1 schedule:1 three:3 striking:1 reject:2 tentative:1 year:3 contract:3 saturday:1 richard:1 fish:2 pact:1 contain:1 cost:1 living:1 increase:2 tie:1 canadian:2 consumer:1 price:1 index:1 wage:1 81:1 pct:3 membership:1 vote:3 54:1 5:2 45:1 yes:1 union:1 represent:1 2:3 600:2 production:2 maintenance:1 worker:3 remain:1 cover:1 office:2 technical:2 last:3 negotiate:1 may:3 21:1 shut:1 since:1 begin:1 9:1 declare:1 force:1 majeure:1 mean:1 company:1 unable:1 honor:1 product:1 separate:1 expire:1 april:1 30:1 main:1 issue:1 similar:1 400:1 mile:2 east:2 vancouver:2 produce:3 240:1 000:2 long:3 ton:3 110:1 sullivan:1 450:1 mln:2 ore:1 process:1 also:1 cadmium:1 bismuth:1 indium:1 revenue:1 356:1 dlrs:1 1986:1 | COMINCO SEEKS MEETING WITH STRIKING UNION LOCALS
Cominco Ltd said it
expects to meet today with two of five United Steelworkers of
America locals on strike at its Trail smelter and Kimberley,
B.C. lead-zinc mine, a Cominco spokesman said.
It had no meeting scheduled with the other three striking
locals, which rejected a tentative three-year contract
Saturday, Cominco spokesman Richard Fish said.
Fish said the pact that was rejected contained a cost of
living increase tied to the Canadian consumer price index, but
no wage increase. With 81 pct of the membership voting, 54.5
pct voted no and 45.5 pct voted yes, the union said.
The three locals represent about 2,600 production and
maintenance workers, while the remaining two locals cover about
600 office and technical workers.
The office and technical workers last negotiated May 21.
Production at Trail and Kimberley has been shut down since the
strike began May 9 and Cominco has had to declare force
majeure, which means the company may be unable to honor
contracts for products from the smelter and mine.
Each of the five locals have separate contracts, all of
which expired April 30, but the main issues are similar.
The Trail smelter, about 400 miles east of Vancouver,
produced 240,000 long tons of zinc and 110,000 long tons of
lead last year. The Sullivan mine at Kimberley, about 450 miles
east of Vancouver, produced 2.2 mln long tons of ore last year,
most for processing at the Trail smelter.
The smelter also produced cadmium, bismuth and indium.
Trail smelter revenue was 356 mln Canadian dlrs in 1986.
|
test/17808 | test/17808 |@title phillips:1 van:1 heusen:1 corp:1 pvh:1 1st:1 qtr:1 |@word shr:1 73:1 ct:2 vs:3 60:1 net:1 4:1 6:1 mln:5 3:1 8:2 revs:1 112:1 104:1 1:2 note:1 1987:1 include:1 lifo:1 charge:1 5:1 dlrs:3 pension:1 expense:1 decline:1 879:1 000:2 due:1 change:1 accounting:1 interest:1 decrease:1 382:1 | PHILLIPS-VAN HEUSEN CORP <PVH> 1ST QTR
Shr 73 cts vs 60 cts
Net 4.6 mln vs 3.8 mln
Revs 112.8 mln vs 104.1 mln
NOTE:1987 includes lifo charge of 1.5 mln dlrs, pension
expenses declined by 879,000 dlrs due to change in accounting,
interest decreased by 382,000 dlrs.
|
test/17809 | test/17809 |@title dresser:1 di:1 sell:1 unit:1 rosenkranz:1 co:1 |@word dresser:2 industries:1 inc:2 say:2 sign:1 definitive:1 agreement:1 sell:1 reliance:2 standard:1 life:1 insurance:1 co:3 rsl:1 holding:1 subsidiary:1 privately:1 hold:1 new:1 york:1 base:2 investment:1 firm:1 rosenkranz:1 term:1 undisclosed:1 philadelphia:1 earn:1 25:1 3:1 mln:2 dlrs:2 sale:2 201:1 6:1 1986:1 use:1 proceed:1 stock:1 repurchase:1 debt:1 reduction:1 possibly:1 complementary:1 acquisition:1 field:1 engineer:1 product:1 service:1 energy:1 producer:1 | DRESSER <DI> TO SELL UNIT TO ROSENKRANZ AND CO
Dresser Industries Inc said it signed a
definitive agreement to sell its Reliance Standard Life
Insurance Co to RSL Holding Co Inc., a subsidiary of the
privately-held, New York-based investment firm of Rosenkranz
and Co.
Terms were not undisclosed. Philadelphia-based Reliance
earned 25.3 mln dlrs on sales of 201.6 mln dlrs in 1986.
Dresser said it will use the proceeds from the sale for
stock repurchases, debt reduction, and possibly complementary
acquisitions in the field of engineered products and services
for energy producers.
|
test/17810 | test/17810 |@title atcor:1 atco:1 seek:1 buyer:1 consumer:1 business:1 |@word atcor:2 inc:2 say:3 roth:2 american:2 sign:1 letter:1 intent:1 may:1 1:1 acquire:2 turco:2 charmglow:2 operation:1 consumer:2 product:2 segment:1 decide:1 buy:1 still:1 interested:1 review:1 option:1 potential:1 buyer:1 express:1 interest:1 business:1 | ATCOR<ATCO.O> SEEKS BUYERS FOR CONSUMER BUSINESS
Atcor Inc said that Roth-American Inc,
which had signed a letter of intent on May 1 to acquire its
Turco and Charmglow operations of its consumer products
segment, has decided against buying Charmglow.
While Roth-American said it is still interested in
acquiring Turco, Atcor said it is now reviewing its options
with other potential buyers who have expressed interest in its
consumer products businesses.
|
test/17811 | test/17811 |@title international:1 consumer:1 brands:1 icbi:1 1st:1 qtr:1 |@word shr:1 profit:2 one:1 ct:2 vs:3 loss:2 three:1 net:1 68:1 607:1 183:1 893:1 rev:1 4:1 2:1 mln:1 602:1 665:1 | INTERNATIONAL CONSUMER BRANDS <ICBI.O> 1ST QTR
Shr profit one cts vs loss three cts
Net profit 68,607 vs loss 183,893
Revs 4.2 mln vs 602,665
|
test/17812 | test/17812 |@title uspci:1 upc:1 see:1 reject:1 union:1 pacific:1 bid:1 |@word share:8 bid:2 make:1 last:3 wednesday:1 union:4 pacific:4 corp:1 unp:1 analyst:5 say:14 offer:4 inadequate:2 douglas:1 augenthaler:4 e:1 f:1 hutton:2 note:1 represent:1 need:1 premium:1 company:2 fundamental:1 value:2 base:2 earning:5 estimate:2 uspci:6 8:3 7:1 mln:2 outstanding:1 trade:2 48:1 1:5 3:1 vice:1 president:2 finance:1 larry:1 shelton:1 could:2 comment:1 adequacy:1 board:1 would:4 meet:1 consider:1 34:1 dlrs:6 time:1 takeover:1 announcement:1 day:1 high:1 expectation:2 change:1 second:1 quarter:1 exceed:1 24:1 30:2 ct:1 price:2 maintain:1 stock:1 low:1 40:2 revise:1 1987:1 waste:2 management:2 concern:1 20:1 announcment:1 lift:1 1988:1 projection:1 90:1 70:1 addition:1 hazardous:1 business:2 hold:2 significant:1 growth:1 potential:1 industry:2 grow:2 16:1 35:2 pct:3 five:2 year:2 per:1 jeffrey:1 klein:1 kidder:1 peabody:1 co:2 expect:1 continue:1 15:1 next:1 43:1 dlr:1 375:1 total:1 bargain:1 transportation:1 energy:1 gain:1 entry:1 profitable:1 win:1 cost:1 control:1 benefit:1 rumor:1 fairly:1 signficant:1 environmmental:1 problem:1 herb:1 mee:1 jr:1 beard:1 oil:1 bec:1 4:1 stake:1 week:1 grossly:1 | USPCI <UPC> SEEN REJECTING UNION PACIFIC BID
share bid made last Wednesday by Union Pacific Corp (UNP),
analysts said.
'The offer is inadequate,' said Douglas Augenthaler, an
analyst with E.F. Hutton, noting that it does not represent the
needed premium over the company's fundamental value based on
earnings estimates.
USPCI, which has 8.7 mln shares outstanding, was trading at
48-1/8, down 3/8.
USPCI vice president of finance Larry Shelton said he could
not comment on the adequacy of the offer or on when the board
would meet to consider it.
Augenthaler said that while USPCI was trading at only 34
dlrs a share at the time of the takeover bid, its announcement
that same day of higher earnings expectations changed its
value. USPCI said its second quarter earnings would exceed
analysts expectations of 24 to 30 cts a share.
At that price, USPCI could maintain a stock price in the
low 40s, Augenthaler said.
Hutton revised its 1987 earnings estimate for the waste
management concern to 1.40 dlrs a share from 1.20 dlrs on the
announcment, he said. It lifted its 1988 projection to 1.90
dlrs a share from 1.70 dlrs.
In addition, analysts said the hazardous waste management
business holds significant growth potential. The industry has
grown from 16 to 35 pct over the last five years, based on
earnings per share, said Jeffrey Klein, an analyst with Kidder
Peabody and Co. The industry is expected to continue growing at
15 to 35 pct over the next five years, he said.
Augenthaler said the 43-dlr-a-share offer, or 375 mln dlrs
total, would be a bargain for Union Pacific. The transportation
and energy company would both gain entry into a profitable
business and win cost-control benefits, he said.
'Union Pacific has what are rumored to be some fairly
signficant environmmental problems of its own,' he said.
Herb Mee Jr., president of Beard Oil Co (BEC), which holds
a 30.4 pct stake in USPCI, said last week Union Pacific's offer
was 'grossly inadequate.'
|
test/17813 | test/17813 |@title total:1 petroleum:1 tpn:1 shuts:1 texas:1 pipelines:1 |@word total:4 petroleum:1 na:1 tpn:1 shut:2 several:3 small:3 crude:1 oil:2 pipeline:7 operate:1 near:1 texas:2 oklahoma:1 border:1 last:1 friday:1 precaution:1 damage:2 local:1 flooding:1 accord:1 gary:1 zollinger:4 manager:1 operations:1 12:1 inch:2 line:1 run:4 across:1 ouachita:1 river:6 wynnewood:1 ardmore:1 capacity:3 62:1 000:4 bpd:4 well:1 wide:1 thousand:1 less:1 say:4 basin:1 major:1 300:1 consortium:1 company:1 close:1 today:1 one:1 also:1 closed:2 3:1 4:1 cross:1 red:1 fargo:1 water:2 could:1 flood:1 erode:1 bank:1 expose:1 piping:1 wait:1 recede:1 reactivate:1 | TOTAL PETROLEUM <TPN> SHUTS TEXAS PIPELINES
Total Petroleum NA <TPN> shut down
several small crude oil pipelines operating near the
Texas/Oklahoma border last Friday as a precaution against
damage from local flooding, according to Gary Zollinger,
manager of operations.
Total shut a 12-inch line that runs across the Ouachita
River from Wynnewood to Ardmore with a capacity of 62,000 bpd
as well as several smaller pipelines a few inches wide with
capacities of several thousand bpd or less, Zollinger said.
The Basin Pipeline, a major pipeline running 300,000 bpd,
run by a consortium of other oil companies, was closed today.
One other small pipeline that Total also closed has a
capacity of 3,000 to 4,000 bpd and crosses the Red River in
Fargo, Texas, Zollinger said.
He said the closed pipelines run under river water and
could be damaged as the flooded rivers erode the river banks
and expose the piping.
Zollinger said Total is waiting for the river waters to
recede before they reactivate the pipelines.
|
test/17816 | test/17816 |@title doe:1 reach:1 propose:1 oil:1 settlement:1 |@word energy:1 department:1 say:3 reach:1 propose:2 oil:2 pricing:1 settlement:4 total:1 680:1 150:1 dlrs:2 operator:1 four:1 work:1 interest:1 owner:1 leblanc:1 1:1 well:2 vermillion:1 parish:1 la:1 trigon:2 exploration:1 co:1 inc:2 operate:1 june:1 1979:1 january:1 1981:1 bryan:1 ferguson:1 c:1 william:1 rogers:1 omni:1 drill:1 partnership:1 1978:1 2:1 entex:1 doe:2 alleged:1 cause:1 overcharge:1 624:1 208:1 improperly:1 classify:1 newly:1 discover:1 crude:1 classification:1 allow:1 charge:1 high:1 price:2 period:1 control:1 would:2 resolve:1 dispute:1 possible:1 violation:2 five:2 party:1 add:1 agree:1 admit:1 non:1 compliance:1 regulation:1 receive:1 write:1 comment:1 make:1 final:1 | DOE REACHES PROPOSED OIL SETTLEMENTS
The Energy Department said it reached
proposed oil pricing settlements totaling 680,150 dlrs with the
operator and four working interest owners of A.D. LeBlanc No. 1
well, Vermillion Parish, La.
Trigon Exploration Co., Inc operated the well from June
1979 to January 1981 for D. Bryan Ferguson, C. William Rogers,
Omni Drilling Partnership No 1978-2 and Entex Inc.
DOE alleged Trigon caused overcharges of 624,208 dlrs by
improperly classifying its oil as 'newly discovered crude,' a
classification that allowed charging higher prices during a
period of price controls.
It said the proposed settlements would resolve disputes
over possible violations by the five parties. DOE added that in
agreeing to the settlements, the five did not admit any
violations or non-compliance with its regulations.
It said it would receive written comments on the
settlements before making it final.
|
test/17822 | test/17822 |@title first:1 america:1 fabk:1 acquire:1 keystone:1 |@word first:3 america:3 bank:1 corp:1 say:1 acquire:1 keystone:4 bancshares:1 inc:1 25:1 mln:2 dlrs:4 shareholder:1 receive:1 45:1 per:1 share:1 payable:1 convertible:1 prefer:1 stock:1 dividend:1 rate:1 nine:1 pct:1 two:1 affiliate:1 combined:1 asset:2 205:1 7:1 9:1 billion:1 | FIRST OF AMERICA (FABK.O) ACQUIRES KEYSTONE
First of America Bank Corp said
it acquired (Keystone Bancshares Inc) for 25 mln dlrs.
Keystone shareholders will receive 45 dlrs per Keystone
share, payable in First of America convertible preferred stock
having a dividend rate of nine pct.
Keystone has two affiliates with combined assets of 205 mln
dlrs. First of America has 7.9 billion dlrs in assets.
|
test/17823 | test/17823 |@title nppc:1 appeal:1 canadian:1 pork:1 dismiss:1 |@word u:2 court:4 international:2 trade:4 uphold:1 commission:4 refusal:1 extend:2 countervail:2 duty:3 canadian:3 hog:3 include:1 pork:7 product:1 national:1 producers:2 council:5 say:4 ruling:2 come:1 appeal:2 decision:1 file:1 president:1 tom:1 miller:1 disappoint:1 accelerate:1 activity:1 support:1 amendment:1 1930:1 tariff:1 act:1 would:1 address:1 objection:1 outline:1 rule:1 insufficient:1 economic:1 integration:1 production:1 industry:2 pack:1 justify:1 live:1 fresh:1 chill:1 freeze:1 legislation:1 already:1 pass:2 house:1 representatives:1 recently:1 senate:2 finance:1 committee:1 expect:1 consider:1 full:1 end:1 summer:1 current:1 enter:1 lift:1 pende:1 | NPPC APPEAL ON CANADIAN PORK DISMISSED
The U.S. Court of International Trade has
upheld the International Trade Commission's refusal to extend
countervailing duties on Canadian hogs to include pork
products, the National Pork Producers' Council said.
The court's ruling came in an appeal to the Trade
Commission's decision filed by the Pork Producers' Council.
Council president Tom Miller said he was disappointed by
the court ruling and said the council will accelerate
activities in support of an amendment to the 1930 Tariff Act
that would address the objections outlined in the Trade
Commission's ruling.
The Commission had said there was insufficient economic
integration between the pork production industry and the pork
packing industry to justify extending the duty on live hogs to
fresh, chilled or frozen pork.
The legislation has already passed the House of
Representatives and recently passed the Senate Finance
Committee. It is expected to be considered by the full Senate
by the end of the summer.
An appeal by the Canadian Pork Council that the current
countervailing duty on Canadian hogs entering the U.S. be
lifted is pending before the Court.
|
test/17825 | test/17825 |@title fluorocarbon:1 fcbn:1 complete:1 acquisition:1 |@word fluorocarbon:2 co:1 say:3 complete:1 acquisition:1 eaton:1 corp:1 etn:1 industrial:1 polymer:1 division:3 company:1 pay:1 70:1 mln:3 dlrs:3 cash:1 rename:1 samuel:1 moore:1 group:1 also:1 boost:1 annual:1 sale:1 165:1 last:1 year:1 98:1 | FLUOROCARBON <FCBN.O> COMPLETES ACQUISITION
Fluorocarbon Co said it
completed the acquisition of Eaton Corp's <ETN> industrial
polymer division.
The company said it paid about 70 mln dlrs in cash for the
division, which will be renamed Samuel Moore Group.
Fluorocarbon also said the division should boost annual
sales to 165 mln dlrs from last year's 98 mln dlrs.
|
test/17827 | test/17827 |@title dekalb:1 dklbb:1 sell:1 heinold:1 hog:1 market:1 |@word dekalb:2 corp:1 say:3 sell:1 heinold:1 hog:2 market:1 inc:1 unit:2 employee:2 stock:1 ownership:1 plan:1 esop:1 term:1 disclose:1 president:1 bruce:1 bickner:1 sale:1 positive:1 substantial:1 impact:1 whole:1 company:1 marketing:1 fit:1 strategy:1 invest:1 core:1 business:1 | DEKALB <DKLBB.O> SELLS HEINOLD HOG MARKET
Dekalb Corp said it sold its Heinold
Hog Market Inc to the unit's employees through an Employee
Stock Ownership Plan (ESOP).
Terms were not disclosed, but president Bruce Bickner said
the sale will have a positive, but not substantial, impact on
DeKalb as a whole.
The company said the hog marketing unit did not fit with
its strategy of investing in its core businesses.
|
test/17829 | test/17829 |@title ltv:2 qltv:1 negotiate:1 steelworker:1 |@word corp:2 ltv:2 steel:1 say:3 agree:2 resume:1 negotiation:1 united:1 steelworkers:1 america:1 local:4 plant:1 level:1 discuss:1 provision:1 proposal:1 require:1 implementation:1 steelworker:1 union:2 narrowly:1 reject:1 tentative:2 agreement:2 company:1 may:1 14:1 also:1 reopen:1 offer:1 contain:1 reach:1 negotiating:1 committee:1 part:1 plan:1 resolve:1 problem:1 discussion:1 | LTV <QLTV> TO NEGOTIATE WITH STEELWORKERS
LTV Corp's LTV Steel Corp said it
agreed to resume negotiations with the United Steelworkers of
America at the local plant levels, to discuss those provisions
of its proposal that require local implementation.
The local steelworker union narrowly rejected a tentative
agreement with the company on May 14, it said.
LTV also said it agreed to reopen its offer contained in
the tentative agreement reached with the union's negotiating
committee as part of a plan to resolve problems through local
discussions.
|
test/17834 | test/17834 |@title charter:1 power:1 systems:1 inc:1 chp:1 1st:1 qtr:1 |@word shr:1 11:1 ct:2 vs:4 21:1 net:1 563:1 000:1 863:1 00:1 revs:1 28:1 8:1 mln:4 32:1 5:2 avg:1 shrs:1 0:1 3:2 | CHARTER POWER SYSTEMS INC <CHP> 1ST QTR
Shr 11 cts vs 21 cts
Net 563,000 vs 863,00
Revs 28.8 mln vs 32.5 mln
Avg shrs 5.0 mln vs 3.3 mln
|
test/17835 | test/17835 |@title financial:1 security:1 fssla:1 acquire:1 |@word financial:1 security:1 savings:1 loan:1 association:1 say:1 sign:1 letter:1 intent:1 control:1 interest:1 acquire:1 investor:1 group:1 lead:1 south:1 florida:1 developer:1 william:1 landa:1 term:1 disclose:1 | FINANCIAL SECURITY <FSSLA.O> TO BE ACQUIRED
Financial Security Savings and
Loan Association said it signed a letter of intent for a
controlling interest to be acquired by an investor group led by
South Florida developer William Landa.
Terms were not disclosed.
|
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