Den 3 april 1995 var en måndag under stjärntecknet ♈. Det var 92 e dagen i året. Förenta staternas president var William J. (Bill) Clinton.
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3rd of April 1995 News
Nyheter som framträdde på New York Times framsida den 3 april 1995
TIMBERLAND SEES LOWER-THAN-EXPECTED RESULTS
Date: 04 April 1995
By Bloomberg News
Bloomberg News
The Timberland Company said yesterday that it expected results for the first and second quarters to be "significantly below" analyst expectations. The outdoor footwear and apparel company blamed a weak retailing environment and continued gross margin pressure. The company, based in Stratham, N.H., did not give an estimate for its earnings. The company released the news after the market closed. Timberland, whose stock was above $85 in November 1993, closed yesterday at $26.125, up 50 cents, on the New York Stock Exchange.
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A SECOND 2-FOR-1 STOCK SPLIT FOR AMERICA ONLINE
Date: 04 April 1995
By Bloomberg News
Bloomberg News
America Online Inc. will split its shares 2 for 1 on April 13, the second such split in six months. America Online, a provider of on-line computer services based in Vienna, Va., said yesterday there would be about 35 million shares outstanding after the split. In November, the company had another 2-for-1 split. Since early that month, its shares have more than doubled, from $34.625. The shares were up $2.50 yesterday, at $76.75, in Nasdaq trading of more than 1.2 million shares. America Online provides electronic mail, news, software and chat lines to more than two million customers.
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ITT SELLS LOAN BUSINESS TO TRANSAMERICA
Date: 04 April 1995
By Bloomberg News
Bloomberg News
The ITT Corporation confirmed yesterday that it had sold its home equity loan business to a subsidiary of the Transamerica Corporation for $1.03 billion, continuing the sale of ITT's financial services unit. Transamerica, based in San Francisco, said the purchase price was roughly equivalent to the portfolio's book value, or its assets minus liabilities. ITT said it would realize net proceeds of about $30 million from the transaction. The deal, with 40,000 home equity loans, is expected to strengthen Transamerica's position as one of the nation's four largest nonbank consumer lenders.
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TOKYO AND MITSUBISHI BANK BOARDS APPROVE MERGER
Date: 04 April 1995
By Bloomberg News
Bloomberg News
The Bank of Tokyo and Mitsubishi Bank said yesterday that their boards had approved their proposed merger. The deal, which was announced last Tuesday, would create the world's largest bank. Under the terms of the merger, which were outlined yesterday, each share of the Bank of Tokyo would be exchanged for 0.8 Mitsubishi share. In addition, Mitsubishi's shareholders would receive another 0.05 share for every share they own. The president of the Bank of Tokyo, Tasuku Takagaki, will become president of the merged bank; the president of Mitsubishi Bank, Tsuneo Wakai, will become the bank's chairman. "We will be equivalent in making decisions not only for the merger but also at a new bank," Mr. Takagaki said. Completion of the merger is expected as early as Oct. 1.
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INGERSOLL-RAND BEGINS HOSTILE TENDER OFFER FOR CLARK
Date: 04 April 1995
By Bloomberg News
Bloomberg News
After having its merger offer rebuffed, the Ingersoll-Rand began a hostile $1.34 billion tender offer for the Clark Equipment Company, a maker of construction machinery. The cash offer of $77 a share came less than a week after Ingersoll-Rand disclosed that Clark had rejected its bid of $75 to $77 a share. Clark said the company was not for sale and filed an antitrust suit to block the bid. Clark stock was unchanged yesterday at $82.50 in New York Stock Exchange trading. Clark said Ingersoll-Rand was offering less than its true worth.
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Compaq Computer Will Use Nexgen Chips
Date: 03 April 1995
By Bloomberg News
Bloomberg News
In an effort to cut its dependence on chips from the Intel Corporation, the Compaq Computer Corporation is planning to use processors from closely held Nexgen Inc. in future personal computers. Compaq, which holds an equity stake in Nexgen, based in Milpitas, Calif., said last week that it had reached an agreement to use the chip maker's high-performance Pentium-class processors in Compaq machines that would be available in the next year. Financial terms of the agreement were not disclosed.
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International Briefs; Orkla Is Buying Volvo Food Units
Date: 04 April 1995
By Bloomberg News
Bloomberg News
Volvo A.B. of Sweden said yesterday that it would sell its two food units to Orkla A.S. of Norway for 4.25 billion kronor ($575 million), making Orkla one of the largest consumer-goods companies in the Nordic countries. In addition, Volvo and Orkla will merge their beverage units to form the second-largest beer brewer in Scandinavia, behind Carlsberg A.S. of Denmark. Volvo will retain 55 percent of the merged unit pending a sale of shares to the public.
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Hillhaven Faces A Resolution
Date: 04 April 1995
By Bloomberg News
Bloomberg News
The Hillhaven Corporation's largest shareholder is asking other stockholders to support a non-binding resolution calling for the company to seek a sale or merger. The measure was placed on the agenda for the company's annual meeting by the Tenet Healthcare Corporation, which owns about 27 percent of Hilhaven. The date of the meeting has yet to be set.
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Data Indicate Higher Rates Are Slowing the Economy
Date: 04 April 1995
By Bloomberg News
Bloomberg News
Consumer spending in February grew at the slowest rate since last April, while factory activity last month slowed to the weakest performance in a year and a half -- signs higher interest rates are putting a damper on the economy. "We're facing a string of consistently weaker economic data," said William Feezer, co-head of trading at Sanwa Securities (USA) in New York.
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First Union Settles With U.S. Over Loans
Date: 03 April 1995
By Bloomberg News
Bloomberg News
The First Union Mortgage Corporation will pay the Justice Department $6.3 million to settle claims that its employees falsified information on borrowers' forms for mortgages guaranteed by the Department of Veterans Affairs. "Numerous" loans went into default, costing the V.A. "several million dollars" after First Union Mortgage employees provided false information about borrowers' income, debts and dependents, the Justice Department said.
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