Den 20 juni 1996 var en torsdag under stjärntecknet ♊. Det var 171 e dagen i året. Förenta staternas president var William J. (Bill) Clinton.
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20th of June 1996 News
Nyheter som framträdde på New York Times framsida den 20 juni 1996
COMPANY NEWS;HAMBRECHT & QUIST PLANS TO GO PUBLIC
Date: 21 June 1996
Bloomberg Business News
Bloomberg News
Hambrecht & Quist Group Inc., the investment bank that has helped many high-technology and health care companies sell shares, yesterday filed to raise $80 million through its own initial public offering. The company, which is based in San Francisco, also gave the public an initial glimpse of its earnings. Hambrecht & Quist's income before income taxes totaled $71.9 million in the six months that ended on March 31, up from $25.4 million a year earlier. The earnings for the 1996 period exceeded the $71.89 million that Hambrecht & Quist earned before income taxes during the entire fiscal year that ended on Sept. 30. Yesterday's filing was the first step in an initial public offering process that will probably take at least several months. Hambrecht & Quist plans to wait until later to release details of the stock offering, including the number of shares to be sold and their price.
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COMPANY NEWS;MANHATTAN BAGEL REPORTS ACCOUNTING IRREGULARITIES
Date: 21 June 1996
Bloomberg Business News
Bloomberg News
The Manhattan Bagel Company said yesterday that it had found improper accounting at its I& J West Coast unit and would have to restate its financial results for the first quarter. Manhattan Bagel, a chain of bagel shops that is based in Eatontown, N.J., said it would also investigate other possible financial irregularities. The company will reduce its first-quarter earnings per share to 9 cents from the 12 cents previously reported. The announcement was made after the markets closed. Earlier, the company's shares fell $4.875, to $21.25, in Nasdaq trading.
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COMPANY NEWS;QUARTERLY EARNINGS RISE 86% AT LEHMAN BROTHERS
Date: 21 June 1996
Bloomberg Business News
Bloomberg News
Lehman Brothers Holdings Inc. said yesterday that its earnings rose 86 percent in the fiscal second quarter, led by gains in investment banking and trading. Lehman, the fourth-largest American securities firm, said net income in the quarter, which ended on May 31, advanced to $108 million, or 89 cents a share, from $58 million, or 43 cents, a year earlier. That exceeded analyst expectations, which ranged from 78 cents to 81 cents, based on a survey by I.B.E.S. International.
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COMPANY NEWS;TELXON STOCK PLUNGES AFTER PREDICTION OF LOSS
Date: 21 June 1996
Bloomberg Business News
Bloomberg News
The shares of the Telxon Corporation fell 31 percent yesterday after the company, which makes hand-held computers and wireless communication devices, said it would lose money in the first half of its fiscal year. Telxon said after the close of trading on Wednesday that it expected a loss of about 50 cents for the period, which ends in September. Analysts had expected the company, which is based in Akron, Ohio, to earn 39 cents a share in the first half, according to analysts surveyed by I.B.E.S. International Inc. Telxon's shares fell $4.625, to $9.875, in Nasdaq trading.
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COMPANY NEWS;EARNINGS RISE 47% AT ORACLE, LIFTING THE STOCK
Date: 21 June 1996
Bloomberg Business News
Bloomberg News
The Oracle Corporation said yesterday that its net income rose 47 percent in the fiscal fourth quarter on strong sales of its data base software and a surge in foreign sales. Oracle said net income for the quarter, which ended on May 31, rose to $266.3 million, or 40 cents a share, from $181.7 million, or 27 cents a share, a year earlier. Sales rose 44 percent, to $1.46 billion from $1.02 billion. The average estimate of 22 analysts from Zacks Investment Research was for earnings of 37 cents a share. Oracle is based in Redwood City, Calif. In after-hours trading, its shares rose as much as $2.125, to $37. The stock earlier closed at $34.875, up 50 cents, in Nasdaq trading.
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COMPANY NEWS;OSHKOSH B'GOSH TO CLOSE PLANTS AND DROP CLOTHING LINE
Date: 20 June 1996
Bloomberg Business News
Bloomberg News
Oshkosh B'Gosh Inc. said yesterday that it would drop its Genuine Kids clothing line, close a plant in Tennessee and sell its European operation. The company, based in Oshkosh, Wis., said it planned to take a second-quarter charge of $7 million to $8 million for the moves. The charge will amount to $20 million to $22 million before taxes. The maker of children's clothes operates 88 Genuine Kids stores and 87 Oshkosh B'Gosh stores. The company, which had already said that it would close a plant in Red Boiling Springs, Tenn., said it would close a plant in Celina, Tenn., by late September. The plants employ 324 and 302 people, respectively. OshKosh B'Gosh made the announcement after the close of trading. Earlier, its shares rose 12.5 cents, to $16.625, in Nasdaq trading.
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COMPANY NEWS;ADT TO ACQUIRE BRITISH SECURITY COMPANY IN STOCK DEAL
Date: 20 June 1996
Bloomberg Business News
Bloomberg News
ADT Ltd. said yesterday that it would acquire Automated Security Holdings P.L.C. for about $131.1 million in stock. ADT, based in Bermuda, said it would issue about seven million shares of common stock for the acquisition. The stock closed yesterday at $18.375 a share, down 25 cents on the New York Stock Exchange. Automated Security is the leading provider of electronic security in Britain. A subsidiary, API Security Inc., is the largest electronic security provider in Southern California. Automated Security shareholders will receive three ADT shares for every 92 shares of Automated Security common stock. Holders of Automated Security's American depository receipts will receive three ADT shares for every 46 A.D.R.'s held.
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COMPANY NEWS;OWENS-CORNING HINTS OF PROGRESS IN ASBESTOS SUITS
Date: 20 June 1996
AP
The shares of the Owens-Corning Fiberglas Corporation rose 2.5 percent yesterday after the company, a maker of building and industrial materials, said there were "significant developments" regarding multimillion-dollar asbestos lawsuits it faces. The company declined to comment furtherabout the developments, saying it would disclose details at a news conference today. The company, one of dozens of former makers of asbestos or asbestos-containing products, has been sued by former workers who became ill and by the estates of those who died from inhaling asbestos fibers on the job. Owens-Corning has $702 million in uninsured claims filed against it. On June 10, the Supreme Court rejected Owens-Corning's appeals of four asbestos-related punitive damage awards worth almost $24 million. The shares of Owens-Corning rose $1, to $40.75, on the New York Stock Exchange.
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COMPANY NEWS
Date: 21 June 1996
HANCOCK HOLDING CO., a banking company in Gulfport, Miss., will acquire Community Bancshares, Independence, La., for about $22 million.
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NEWS SUMMARY
Date: 21 June 1996
International A3-12
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