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July 12, 1997 | Reuters
Falcon Drilling Co. and Reading & Bates Corp. agreed to merge in a $2.5-billion stock transaction, a move that would create a company that operates the world's largest fleet of offshore oil rigs. The planned merger comes just as oil exploration is increasing in the Gulf of Mexico. The combined company, to be renamed R&B Falcon Corp.
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BUSINESS
July 12, 1997 | Reuters
Falcon Drilling Co. and Reading & Bates Corp. agreed to merge in a $2.5-billion stock transaction, a move that would create a company that operates the world's largest fleet of offshore oil rigs. The planned merger comes just as oil exploration is increasing in the Gulf of Mexico. The combined company, to be renamed R&B Falcon Corp.
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BUSINESS
October 17, 1997 | From Times Wire Services
Sears, Roebuck & Co. on Thursday reported a 26% increase in third-quarter profit but said rising consumer credit delinquencies are likely to hurt its earnings during the holiday shopping period. News of the rising bad credit pushed down shares of the nation's No. 2 retailer and the largest retail credit card issuer by $5.81, or 11%, to close at $48.06 on the New York Stock Exchange. Sears said net income for the three months ended Sept.
BUSINESS
January 2, 1997 | JAMES F. PELTZ
It's one of the tougher calls in stock picking: With the whole market bobbing near its all-time high, how does one figure out which sectors to buy now? The complicating factor, of course, is widespread investor fear that the market has climbed so high that it's poised for a nasty fall. And that concern only grows as the bull market keeps extending its run. The solution is to get defensive, analysts say.
BUSINESS
January 20, 1998 | JAMES F. PELTZ
Investors must think the oil patch is becoming a quagmire. After a run-up in the first half of last year, major oil company stocks have been slowly but steadily dropping since October--right in step with a falloff in crude-oil prices. The declines may be cheered by motorists, but they're causing headaches for investors. Crude prices have tumbled more than 25% in some cases. For instance, the price for West Texas Intermediate, a benchmark light crude, has dropped to a recent $16.
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