September 27, 2010 |
Stocks fell on Monday, following a four-week rally, despite a flurry of deal-making. The Dow Jones industrial average fell 48.22 points, or 0.4 percent, to end at 10,812.04. The blue-chip average remains on pace for its best September performance since 1939. "The stock market remains reasonably valued, especially when compared to the ultra-low interest rates seen in the bond market," said Fred Dickson, chief investment strategist at Davidson Cos., who calculates equities are trading at 12 times estimated 2011 S&P 500 operating earnings.
February 10, 1989 |
The Anglo-Dutch Unilever group said today that it will pay $1.55 billion for the cosmetics and toiletries businesses of U.S.-based Faberge and Elizabeth Arden in a deal that will make it a leader in personal products sales. Unilever PLC-NV is the world's second-largest consumer goods company, with interests from foods to detergents. The cash deal will be one of the biggest in a series of recent trans-Atlantic takeovers by European firms.
November 29, 1988 |
Philip Morris Cos.' path to becoming the world's largest consumer products company appeared clear Monday as federal officials declined to raise antitrust objections to its $12.6-billion purchase of Kraft Inc. The tobacco and food giant's lone remaining hurdle is evidently obtaining sufficient shares under terms of its $106-a-share tender offer, which it reaffirmed would expire at 5 p.m. EST Friday. The company said that about 49.8% of Kraft's estimated 119.
September 18, 1985 |
Richardson-Vicks Inc. on Tuesday rejected a sweetened merger offer from the U.S. subsidiary of Unilever and responded with a series of steps designed to thwart the hostile takeover bid. The moves included the distribution of a new, special preferred stock and "certain actions to ensure the continuity of management, employee job security and protection of employee benefits," the company said in a statement. Spokeswoman Deborah Bennetts declined to specify the other measures taken.
April 24, 1998 |
Linda Robertson of the Miami Herald, commenting on what could be a heated (no pun intended) playoff series between the Miami Heat and New York Knicks starting today. "If [Miami] and [New York] can't control their Vesuvian tempers during their playoff rematch, then by Game 5, downtown Miami will look like downtown Pompeii." Said Heat Coach Pat Riley, "It's a push-shove game, not a run-open game.
September 4, 1987 |
Beatrice Co. said Tuesday that it has retained First Boston Corp. to help sell its four domestic food-products divisions, including Hunt-Wesson in Fullerton. The other divisions to be sold are Tropicana Products of Bradenton, Fla.; Swift-Eckrich of Oakbrook, Ill., and Beatrice Cheese of New Berlin, Wis. A Beatrice spokesman said the sale price may be as high as $6 billion for the four units, which will be offered as a single entity.
December 23, 1988 |
Unilever N.V., the Anglo-Dutch consumer products company that owns Lever Brothers, is rumored to be contemplating a $90-a-share bid for American Brands Inc., stock speculators said today. Shares in American Brands, a tobacco and office products company, soared $9.75 to $67.375 by 1:30 p.m. EST, just slightly off its earlier highs. The stock was the most actively traded on the New York Stock Exchange.
September 17, 1985 |
Stocks halted their recent slide with a mixed showing in quiet trading Monday, giving the Dow Jones industrial average its first gain in a week. Trading was the lightest in more than two months as some investors were absent to observe Rosh Hashanah, the Jewish New Year. Auto and telephone issues paced the gainers, but oil stocks retreated amid renewed suggestions that crude oil prices are headed lower. The Dow Jones average of 30 industrials edged up 1.46 to 1,309.
September 11, 1985 |
Stocks skidded to a broad loss Tuesday in the heaviest trading in nearly five weeks. Much of the decline came in the afternoon and reflected futures-related trading by several brokerage houses, analysts said. Last-minute buying lifted prices above their worst levels, however. The Dow Jones average of 30 industrials dropped 5.82 to 1,333.45, erasing its 3.58-point gain Monday. Losers overall swamped gainers by more than two to one on the New York Stock Exchange, whose composite index fell 0.
September 10, 1985 |
Stocks were mixed Monday as Wall Street showed that it still lacks conviction about the economy's outlook. The uncertainty remained evident in New York Stock Exchange trading volume, whose daily tally has now gone more than a month without exceeding 100 million shares. Big Board volume slowed to 89.85 million shares from 95.04 million Friday. General Foods Jumps The Dow Jones average of 30 industrials climbed 3.58 to 1,339.