June 28, 1986 |
Loral Corp. offered Friday to buy Sanders Associates Inc. for about $863 million, but Sanders said the offer from the smaller electronic-warfare equipment company was inadequate. Both companies make sophisticated electronic gear for the military. Sanders is one-third bigger, with revenue of $886 million in its last fiscal year, compared to $664 million for Loral. Sanders stock skyrocketed past Loral's $44-per-share offer, rising to $50.50 a share from $15.
October 7, 2003 |
The mutual fund industry probe by New York Atty. Gen. Eliot Spitzer apparently cost another executive his job Monday: Phoenix-based Security Trust Co., one of the companies implicated in Spitzer's investigation, said Chief Executive Grant D. Seeger resigned. Separately, Fidelity Investments, the largest U.S. fund firm, said that it had received a subpoena from Spitzer and that it was cooperating with the probe.
April 11, 1996 |
Fidelity Investments' Magellan Fund increased its controversial bet on U.S. bonds in February, just before the market suffered its worst one-day rout in more than eight years, a monthly report to holders Wednesday shows. Magellan manager Jeff Vinik raised the fund's bond holdings to 19.4% of the $56.2-billion portfolio at the end of February from 18.9% in January, the report says. The timing could not have been much worse.
July 6, 1999 |
The technology stock sector has performed so well for so long that few investors today would question whether to own tech. It's only a question of how big your portfolio's tech stake should be. With technology stock mutual funds the best-performing domestic stock fund sector in the first half of 1999--up 34.4% on average--some investors might be tempted to chase after one of the 50 or so funds that specialize in tech shares. But wait: It's possible you already own plenty of tech stocks.
June 11, 1998 |
A little more than a year ago, Robert Pozen was asked to plug several leaks in the mighty mutual-fund dam known as Fidelity Investments. The company was perceived to be suffering from flagging performance, rapid manager turnover and various other problems that suggested it was being insensitive to shareholders. The choice of Pozen, an attorney, to replace Gary Burkhead as the president of Fidelity's money-management arm seemed curious.