July 11, 1997 |
The price of PairGain Technologies Inc. shares fell 9% Thursday after the telecommunications equipment maker reported second-quarter earnings that didn't meet analysts' estimates. In addition, UBS Securities Inc. in New York downgraded the company's stock to "hold" from "buy" as it lowered PairGain's earnings estimate this year to 63 cents a share from 68 cents. PairGain's stock fell $1.69 a share to close at $16.
June 6, 1995
MiniMed Inc., a Sylmar maker of devices used to manage diabetes, has told the Securities and Exchange Commission that it will sell 2.5 million shares of common stock worth about $32.5 million in an initial public offering of stock. Smith Barney Inc., Dillon Read & Co. Inc. and UBS Securities Inc. are the underwriters. Proceeds of the sales after fees are expected to be $29.7 million. An additional 750,000 shares of stock will be offered by Alfred E. Mann, chairman and CEO of MiniMed.
August 29, 1996 |
More leading Japanese companies are pessimistic about the country's economic recovery, according to a closely watched central bank survey released Wednesday. Results from the quarterly "Tankan" survey came in below forecasts and were interpreted by financial markets as a sign that the Bank of Japan will keep interest rates low in order to keep stimulating the economy.
January 21, 1997 |
Westwood One Inc. shares have risen more than 12% amid speculation that Westinghouse Electric Corp. is interested in buying the 75% of the radio programmer it doesn't already own. Westwood One shares rose to a record high of $19.75 last week and closed Monday at $19, down 37.5 cents on Nasdaq. The combination would help Westinghouse boost radio profit by increasing sales of programming to affiliated stations, some analysts said.
May 4, 2005 |
Charter Communications Inc., the cable television company controlled by Microsoft Corp. co-founder Paul Allen, said Tuesday that its first-quarter loss widened as costs rose to provide customers with new equipment and services. The net loss expanded to $352 million, or $1.16 a share, from $293 million, or $1, a year earlier. Sales rose 4.7% to $1.27 billion, the St. Louis-based company said.
January 20, 1994 |
Due to lower loan charge-offs, BankAmerica Corp. reported improved fourth-quarter and annual earnings Wednesday. The parent of Bank of America said its quarterly profit was $496 million, up 5% from $486 million in the fourth quarter of 1992. For all of 1993, BofA's profit was $1.95 billion, up 31% from $1.49 billion in 1992.
January 6, 1989 |
Digital Equipment Corp., the company that invented the minicomputer, is now trying to convince its customers that it is just as serious about desktop computers. The company hopes to make a big splash Tuesday with the announcement of a host of new desktop models, marking a move from expensive minicomputers to more down-market personal computers. The effort represents a major change in attitude for one of the world's three largest computer companies, industry analysts said.
June 5, 1997 |
Powerwave Technologies Inc. said Wednesday it plans a secondary stock offering of 3 million shares that will give some of its key executives, employees and financial backers an opportunity to cash in on the firm's growth since its Dec. 6 initial offering. The company's registration statement, filed with the Securities and Exchange Commission, does not give a date for the sale and a spokesman said none has been set.
April 12, 2008 |
Delta Air Lines Inc. and its pilots agreed in principle Friday on a contract that would clear the way for a merger with Northwest Airlines Corp. to create the world's largest carrier, people familiar with the talks said. An accord would raise pilots' pay and give them an equity stake in the combined airline, which would keep Delta's name and Atlanta headquarters, said the sources, who requested anonymity. Some terms are still being negotiated, two of the people said.
January 11, 2006 |
Inventories at U.S. wholesalers rose 0.4% in November as companies accelerated their restocking efforts after hurricane-related supply disruptions, the Commerce Department said Tuesday. Adding more goods to inventory helped boost the economy in the final three months of the year and will help fuel growth in coming months at the same time production increases, economists said. The inventory-to-sales ratio, or the amount of time goods stayed on wholesalers' shelves, increased slightly to 1.