12 januari 1995 was een donderdag onder het sterrenbeeld ♑. Het was de 11e dag van het jaar. President van de Verenigde Staten was William J. (Bill) Clinton.
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12th of January 1995 News
Nieuws zoals het verscheen op de voorpagina van de New York Times op 12 januari 1995
HALLMARK TO REFOCUS MARKETING OF GREETING CARDS
Date: 12 January 1995
By Bloomberg News
Bloomberg News
Hallmark Cards Inc. said yesterday that it would place a greater emphasis on selling its greeting cards through mass merchandisers. Retailing analysts said Hallmark was responding to competitive pressures and changing buying patterns. Jeffrey S. Stein, and analyst at McDonald & Company, said that more than 90 percent of greetings cards were bought by women, and that working women were increasingly doing one-stop shopping in discount and drug stores rather than in Hallmark specialty stores. Irvine O. Hockaday, chief executive of the closely held company, said the new focus could result in work-force reductions, but he said layoffs were not planned. Hallmark, based in Kansas City, Mo., has about 21,000 employees.
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NEXTEL PACT WITH ONECOMM MAY BE IN JEOPARDY
Date: 12 January 1995
By Bloomberg News
Bloomberg News
Nextel Communications Inc. may not complete its merger with the Onecomm Corporation because the transaction could violate the company's debt provisions, according to a filing by Nextel with the Securities and Exchange Commission. Under the company's agreements with its debt holders, Nextel must generate a certain amount of operating cash flow or have a ratio of debt to total market capitalization of 30 percent or less. If the transaction were completed today, Nextel, a wireless services provider based in Rutherford, N.J., would violate these stipulations. Nextel and Onecomm are considering actions to avoid setting off any debt default, the filing said. Shares of Nextel fell $2.1875, to $10.8125, in Nasdaq trading, while those of Onecomm dropped $3.3125, to $9.6875.
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B.A.T. TO TRIM JOBS AT AMERICAN TOBACCO
Date: 12 January 1995
By Bloomberg News
Bloomberg News
The Brown & Williamson Tobacco Corporation, the United States subsidiary of B.A.T. Industries P.L.C. of Britain, said yesterday that it would cut as many as 1,680 sales, administrative and research jobs as it consolidates the operations of the American Tobacco Company. B.A.T. bought American Tobacco last month from American Brands Inc. and merged it with Brown & Williamson, based in Louisville, Ky. Brown & Williamson said yesterday that it had laid off about 1,230 full-time sales employees, of which 150 would be offered part-time positions. The company plans to eliminate another 450 research and administrative support jobs by phasing out American Tobacco operations in Chester, Va., and Stamford, Conn. Some of those employees will be offered new positions, the company said.
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APPLE COMPUTER SHARES RISE ON TAKEOVER SPECULATION
Date: 12 January 1995
By Bloomberg News
Bloomberg News
Shares of Apple Computer Inc. rose 7 percent yesterday on renewed speculation about a possible takeover. The stock gained $3.0625, to $46.75, on Nasdaq volume of 7.8 million shares. Dan Dorfman, a business news correspondent for CNBC, said an analyst at Hambrecht & Quist, Bruce Lupatkin, had told him that the International Business Machines Corporation would eventually acquire Apple for $60 a share. Both Apple and I.B.M. declined to comment. Shares of I.B.M. fell 62.5 cents, to $76, on the New York Stock Exchange.
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Xerox Lifts Stake in Foreign Venture
Date: 13 January 1995
By Bloomberg News
Bloomberg News
The Xerox Corporation said today that it would increase its stake in Rank Xerox, which makes Xerox products for sale in Europe, Asia and Africa, in a $960 million deal. Xerox will pay its European partner, the Rank Organization of Britain, $:620 million in cash for an additional 20 percent share of the company, increasing its controlling stake to 71 percent. Xerox said the deal would increase its share of Rank Xerox's profits to 80 percent from 67 percent.
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XTRA SHARES RISE ON COMMENTS BY LARGEST SHAREHOLDER
Date: 12 January 1995
By Bloomberg News
Bloomberg News
Shares of the Xtra Corporation rose 10 percent after the Tiger Management Corporation, the company's largest shareholder, said it would explore ways of increasing the stock's value, including a possible sale of the company. Shares of Xtra rose $4.625, to $50.50, in Nasdaq trading. "We have the highest regard for the management of Xtra," John Griffin, president of Tiger Management, said in a filing with the Securities and Exchange Commission. "They have done an outstanding job for the company." Tiger Management owns about 25 percent of the 16.9 million shares of Xtra outstanding.
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FHP WITHDRAWS BID FOR HEALTH SYSTEMS INTERNATIONAL
Date: 13 January 1995
By Bloomberg News
Bloomberg News
The FHP International Corporation said yesterday that it had withdrawn its $1.69 billion bid to acquire a rival health maintenance organization, Health Systems International Inc., saying it was not in the best interest of the company and its shareholders "at this time." Last month, FHP offered $34 a share in stock for Health Systems, which is based in Woodland Hills, Calif. Health Systems rejected the bid and said it was not for sale. The move by FHP, which is based in Fountain Valley, Calif., came three days after the Foundation Health Corporation ended its offer to buy Health Systems. Shares of Health Systems rose 39 percent, to $30.375, when the two bids were disclosed on Dec. 30. Yesterday, the shares were down $4, at $25.25, on the New York Stock Exchange.
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TAKEOVER SPECULATION SENDS HEINZ'S STOCK HIGHER
Date: 13 January 1995
By Bloomberg News
Bloomberg News
Shares of the H. J. Heinz Company reached a 52-week high yesterday on speculation that the company would be acquired, traders said. The stock climbed as high as $41.25 a share before closing at $41, up $2.50, on the New York Stock Exchange. Traders said there was speculation that Unilever P.L.C., the British-Dutch consumer products giant, would make a takeover bid. A Heinz vice president, Ted Smyth, and several other employees at the company's headquarters in Pittsburgh said they knew of no imminent announcement.
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TECH DATA'S STOCK PLUNGES ON EARNINGS OUTLOOK
Date: 13 January 1995
By Bloomberg News
Bloomberg News
Shares of the Tech Data Corporation plunged 25 percent after it predicted lower fourth-quarter earnings because of higher expenses. The company, a computer seller based in Clearwater, Fla., said it expected fourth-quarter earnings of 15 cents to 19 cents a share, far below the 29 cents a share that Wall Street had been expecting. Tech Data's stock was down $4, to $11.875, on Nasdaq volume of 6.45 million shares. The company attributed the shortfall to increases in various expenses and to higher interest costs. Part of the increase came from the installation of a new computer system to manage operations, Tech Data said.
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SNAPPLE DEAL WILL REDUCE EARNINGS, QUAKER OATS SAYS
Date: 13 January 1995
By Bloomberg News
Bloomberg News
The Quaker Oats Company said yesterday that its purchase of the Snapple Beverage Corporation last month would reduce its second-quarter earnings by 20 percent to 25 percent from 31 cents a share in the corresponding period a year earlier. Quaker, based in Chicago, also cited higher marketing costs for its Gatorade drink and its cereals. The company said the Snapple expenses amounted to 6 cents to 8 cents a share in the quarter. Shares of Quaker were down 12.5 cents, at $31.625, on the New York Stock Exchange.
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