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10th of October 1994 News
Ειδήσεις όπως εμφανίστηκαν στην πρώτη σελίδα των New York Times στο 10 Οκτωβρίου 1994
WESTERN COMPANY AND BJ SERVICES TO EXCHANGE DATA
Date: 11 October 1994
By Bloomberg News
Bloomberg News
The Western Company of North America said yesterday that it had signed confidentiality agreements to trade data with the BJ Services Company, though it continued to rebuff BJ's bid to buy the company for $18.50 a share. Western said the move was consistent with its agreement with BJ Services to continue talks about a possible merger of the two oil-service companies. The agreement forbids either party to solicit proxies until after Nov. 3, allowing the management of Western to work on a resolution to BJ Service's bid to buy it for $450 million. Western rejected that offer last month as inadequate. Price was not the only issue. It also said it preferred a tax-free pooling of interests over BJ Services' offer to pay with cash and stock.
Full Article
DELL CUTS PRICES OF SOME PENTIUM-POWERED COMPUTERS
Date: 11 October 1994
By Bloomberg News
Bloomberg News
Seeking to entice consumers to leapfrog to the most powerful Intel Corporation microprocessors, the Dell Computer Corporation cut prices on two of its Pentium-powered computers by $200. Dell, a personal computer maker based in Austin, Tex., also introduced low-price Pentium models to its Optiplex line aimed at corporate users, which previously had PC's powered only by Intel's 80486 chip. With the price cuts, Dell's least expensive Pentium model, the Dell Dimension XPS60, will start at $1,899, with 528-megabyte hard drive and 15-inch monitor. Dell also added a Pentium-powered Optiplex unit with a list price of $1,970, which it said was the first corporate Pentium model for less than $2,000.
Full Article
EARNINGS PREDICTION HURTS CENTRAL GARDEN AND PET
Date: 11 October 1994
By Bloomberg News
Bloomberg News
The shares of the Central Garden and Pet Company closed down 26 percent after it said it expected a greater loss for the third quarter than it recorded for the corresponding period last year. Shares fell $1.50, to $4.25, in Nasdaq trading. The company, a national distributor of lawn, garden, pet and pool supplies, said it expected a loss of between 35 cents a share and 45 cents a share, compared with a loss of 8 cents a share in the third quarter last year. Central Garden also said it had retained the investment banking firm of Wasserstein Perella & Company to help it maximize value.
Full Article
COMPANY NEWS: Enhancing by Subtracting; Tobacco Giant Promises A Less Smelly Smoke
Date: 11 October 1994
By Bloomberg News
Bloomberg News
The R. J. Reynolds Tobacco Company, which introduced a "smokeless" cigarette a few years ago that failed to catch on with smokers, says it will sell a cigarette with smoke that leaves less of a lingering stale smell. The company said today that the new product would be called Salem Preferred.
Full Article
MYLAN LABS SHARES RISE ON PLANS TO SELL GENERIC CECLOR
Date: 11 October 1994
By Bloomberg News
Bloomberg News
The shares of Mylan Laboratories Inc. rose 8 percent yesterday after the company, a generic drug maker, said that it would sell a generic version of Ceclor for Eli Lilly & Company. Ceclor was Lilly's second-best-selling drug in 1993, with worldwide sales of about $910 million. The company's manufacturing patent on the antibiotic expires in December, paving the way for tough competition from generic drug makers. The agreement may hamper that competition while providing Mylan with a lucrative source of revenue, analysts said. Mylan shares rose $2.25, to $28.375, on volume of almost 1.6 million shares. Lilly's shares closed unchanged at $58.
Full Article
Coram to Settle T Lawsuit
Date: 11 October 1994
By Bloomberg News
Bloomberg News
The Coram Health Care Corporation has agreed to pay $25 million and issue 2.5 million warrants to settle a shareholder class-action securities fraud suit filed against its subsidiary T Medical Inc. The suit, filed in August 1993 in United States District Court in Georgia, accused T and certain officers and directors of wrongdoing before T 's merger into Coram.
Full Article
Bellcore Denies Report on Sale
Date: 11 October 1994
By Bloomberg News
Bloomberg News
Bell Communications Research, the research and engineering consortium of the regional Bell operating companies, said today that it had made no plans to sell the research division. Bellcore, as the consortium is known, made the statement in response to an article today in The Wall Street Journal saying that the Baby Bells were planning to sell the jointly owned research arm in a public offering of stock, sell the unit outright or dispose of it through some combination of the approaches.
Full Article
Upjohn China Venture
Date: 11 October 1994
By Bloomberg News
Bloomberg News
The Upjohn Company said today that it had begun construction on a $30 million joint venture pharmaceutical factory in Suzhou, China. The company announced the project in July. Upjohn, which sells but does not yet make drugs in China, will own 75 percent of the venture. Suzhou Pharmaceutical Factory No. 4, which has more than 1,000 employees, holds the remaining stake. The plant is to begin making Upjohn products in 1996 with 150 employees, the company said.
Full Article
Lufthansa in Thai Air Pact
Date: 11 October 1994
By Bloomberg News
Bloomberg News
The German airline Lufthansa signed an agreement today with Thai Airways International to expand Lufthansa's Asian passenger and cargo operations. With a toehold in North America through its partnership with United Airlines, Lufthansa said the pact with Thai Airways would give it a "seamless" global network.
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Dollar Slips a Bit as Threat Of Persian Gulf War Fades
Date: 11 October 1994
By Bloomberg News
Bloomberg News
The dollar slipped against the Japanese yen and other leading currencies yesterday after Iraq said it had ordered its troops to withdraw from the Kuwaiti border. Trading was very thin yesterday, with little activity in two main centers for foreign exchange, New York and Tokyo. Currency desks at most banks in the United States were either closed or scaled back in observance of Columbus Day, while financial markets in Japan were closed in observance of Health Sports Day.
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