May 11, 1991
Shares of National Education Corp. were up sharply Friday, apparently boosted by a strong recommendation from a Florida stock analyst. NEC's stock was up 28%, closing at $6.25 per share, up $1.375. It was the biggest percentage gain on the New York Stock Exchange. Bert L. Boksen, an analyst with Raymond James & Associates in St. Petersburg, Fla., issued on Friday its strongest buy rating for the Irvine-based operator of vocational and technical schools.
July 18, 1997 |
Lucent Technologies Inc. said it will buy Octel Communications Corp., the world's top voice-mail company, for $31 a share, or $1.8 billion in cash. The combined messaging unit would have more than $1 billion in annual sales in an industry that's growing at 20% a year. Lucent, spun off last year by AT&T Corp., makes telephone systems and the hardware and software that run phone networks. Lucent plans to take an undisclosed charge this quarter for the purchase.
October 25, 1999 |
* President Clinton is likely to report the government budget balance for fiscal 1999, which ended Sept. 30. The report is likely to show that the United States posted its second consecutive annual budget surplus, the first back-to-back surpluses since President Eisenhower occupied the White House in the 1950s. * In its report this week, the government will issue benchmark revisions of the gross domestic product, which will include computer software expenses as part of business investment.
March 16, 2011 |
Morton's Restaurant Group Inc., the Chicago-based upscale steakhouse chain, said it was exploring strategic alternatives to boost shareholders' value, including a potential sale of the company. Morton's, created in 1978 by Arnie Morton and Klaus Fritsch, has the support of Castle Harlan Inc. and Laurel Crown Partners, its two largest shareholders, and retained Jefferies & Co. as a financial advisor, the company said. Sales started rising again last year after two years of declines during the recession as diners reduced spending on high-end restaurants.
March 11, 2002 |
American Home Products Corp. has solved its identity crisis. After selling well-known food businesses, four medical device companies and its agricultural products division to focus on prescription drugs and consumer health care, AHP found its name, still little known, just didn't fit. So, as of today, the Madison, N.J.-based company is swapping its moniker of the last 76 years for one much older: Wyeth.
March 13, 2000 |
Economic figures to be released this week probably will show that the recent surge in oil prices brought on a rise in the inflation rate last month, analysts said. The first of the two monthly inflation reports--the producer price index--will probably show that prices paid to U.S. factories, farmers and other producers rose 0.6% in February after showing no change in January, according to a Bloomberg News survey. Excluding food and energy costs, the core index probably rose 0.
May 2, 2000 |
Rexall Sundown Inc.'s stock shot up 22% after Dutch food group Numico agreed to pay $1.8 billion for the Florida-based maker of vitamins and nutritional supplements. Shares of Rexall rose $4.19 to close at $23.44 on Nasdaq. The deal, valued at $24 a share, is backed by insiders controlling more than 50% of Rexall's shares, said Raymond James & Associates Inc. analyst John Ransom. The acquisition will give Numico the top spot in North America's burgeoning mass-market for vitamins and supplements.
July 10, 2004 |
Earnings forecasts for Titan Corp. were reduced by at least five analysts Friday, one day after the defense contractor said it would report a second-quarter loss and declined to give an outlook for all of 2004. A.G. Edwards & Sons Inc., Wachovia Securities, Credit Suisse First Boston, Raymond James & Associates Inc. and Stephens Inc. all cut their forecasts. Titan said Thursday that it would report a quarterly loss of as much as $78 million. Three analysts now expect a loss for the full year.
May 7, 2001 |
Data this week on retail sales and unemployment claims will probably point to a slowing economy in the second quarter, analysts said. Although a Commerce Department report is likely to show retail sales increased 0.2% in April, the gain would follow a decrease of 0.2% in March. Retail sales numbers help gauge consumer spending, which accounts for two-thirds of economic activity. Labor markets influence spending, and unemployment lines are lengthening.
September 18, 1998 |
Bergen Brunswig Corp., the nation's third-largest drug wholesaler, said Thursday it has agreed to buy closely held Ransdell Surgical Inc. for an undisclosed price to expand its sales of medical and surgical products. Like other major drug wholesalers, Orange-based Bergen is expanding through small acquisitions after a federal judge in August blocked two big mergers that would have combined the four largest drug wholesalers into two. Cardinal Health Inc.