May 20, 1996
Imperial Credit Mortgage Holdings Inc. said it plans to sell 2.5 million shares of common stock in an effort to raise about $35.9 million after expenses. The real estate investment trust plans to use the proceeds primarily to invest in residential mortgage loans and related securities and to provide short-term credit to mortgage banks, according to a registration statement filed with the Securities and Exchange Commission. PaineWebber Inc.
October 28, 1996
Imperial Credit Mortgage Holdings Inc. said it plans to sell 2.5 million shares of common stock to generate funds for its investment and lending operations. The company, a real estate investment trust, expects the stock sale to raise about $51.8 million, based on a share price of $22.25, according to documents filed with the Securities and Exchange Commission. The stock, which has almost doubled in price since last December, closed Friday at $22.125, down 12.5 cents, in Nasdaq trading.
September 22, 1987 |
Several class-action shareholder lawsuits filed in Southland courts against ICN Pharmaceuticals Inc. will be tried in New York to consolidate court action against the embattled Costa Mesa company. The suits allege that ICN and its Viratek Inc. subsidiary wrongly "hyped" the value of the experimental antiviral drug "Virazole" and accuse ICN, Viratek and a second subsidiary, SPI Pharmaceutical Inc., as well as PaineWebber Inc. and eight ICN officers and directors of securities fraud. U.S.
February 14, 1997 |
U.S. retail cigarette sales rose 1% in 1996, helped by full-priced brands. Philip Morris Cos. led the pack, as its sales rose 5%, according to a PaineWebber Inc. report, while No. 2 cigarette maker RJR Nabisco Holdings Corp. and No. 3 BAT Industries' Brown & Williamson Co. unit showed respective sales declines of 3% and 4%. Sales of full-priced brands, such as Philip Morris' Marlboro, RJR's Camel and Loews Corp.'
June 21, 1997 |
Cineplex Odeon Corp. said it may merge its movie theaters with Sony Corp.'s Loews Theater Group in a transaction that would strengthen its position in the United States and Canada. Terms weren't disclosed. Analyst Chris Dixon of PaineWebber Inc. valued the transaction at between $350 million and $400 million. Current shareholders would remain in the combined entity, Cineplex said. Seagram Co.'s Universal Studios Inc.
December 25, 1998 |
PaineWebber Inc. and Yasuda Mutual Life Insurance Co., one of Japan's top insurers, are forming a joint investment trust business, Japanese newspapers reported. The two companies will set up the venture by February and start selling funds in Japan by April, through Yasuda Mutual's nationwide sales network, the Nihon Keizai business daily reported. Yasuda Mutual, which owns 8.
May 11, 1996 |
At one time or another, it's every employee's dream: to see the boss get a sock in the jaw. For Wall Street, the place to be May 23 will be the Madison Square Garden theater. That's when New York Stock Exchange Chairman Richard Grasso and two prominent Wall Street leaders will climb into a boxing ring with Olympic champions. The "U.S. Olympic Fight Night" will pit Grasso, the mastermind of the event, and Roy Jones Jr., the 1988 Olympic silver medalist.
April 10, 1987
Michael H. Fusco, a former PaineWebber Inc. executive, has been named president of Morgan, Olmstead, Kennedy & Gardner Inc., a Los Angeles-based securities brokerage and investment banking firm. He succeeds Bryan L. Herrmann, who becomes vice chairman of the brokerage. Herrmann will also continue as president of its parent company, Morgan, Olmstead, Kennedy & Gardner Capital Corp.