NEWS SUMMARY
Date: 18 November 1995
International 3-5
Replay sabato 18 novembre 1995
Il 18 novembre 1995 era una sabato sotto il segno zodiacale del ♏. Era il 321 ° giorno dell'anno. Il presidente degli Stati Uniti era William J. (Bill) Clinton.
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18th of November 1995 News
Notizie come è apparso sulla prima pagina del New York Times il 18 novembre 1995
COMPANY NEWS;DU PONT JOINS IN PLASTIC PLUMBING SETTLEMENT
Date: 18 November 1995
Bloomberg Business News
Bloomberg News
The Du Pont Company yesterday joined the Hoechst Celanese Corporation and the Shell Chemical unit of RoyalDutch/Shell in a $950 million settlement over plastic plumbing. Du Pont had agreed to contribute $120 million to settle a similar class action lodged in a state court in Eutaw, Ala. As part of the agreement signed yesterday, the judge in that case transferred Du Pont's settlement to a state court in Tennessee and dismissed the claims against Du Pont in Alabama, a Du Pont spokeswoman said. Du Pont will not pay any more than the $120 million, the spokeswoman, Cathy Forte, said. Hoechst, Shell and Du Pont supplied plastic resin and some parts of the polybutylene plumbing, which, lawsuits have contended, develops leaks after reacting with chlorine in tap water.
COMPANY NEWS;LOJACK SHARES TUMBLE ON LOWER EARNINGS FORECAST
Date: 18 November 1995
Dow Jones
Dow Jones
Shares of the Lojack Corporation tumbled more than 30 percent yesterday after the company, which makes systems used to track stolen cars, said it expected its third-quarter earnings to be "near the low end" of Wall Street's expectations. Lojack, which is based in Dedham, Mass., cited lower-than-expected growth in the New York-New Jersey market, saying its advertising had produced disappointing results. Lojack said it expected third-quarter earnings between $2.2 million and $2.5 million, or 9 cents a share to 10 cents a share. For the third quarter a year ago, earnings were $1.8 million, or 8 cents a share. Lojack's shares fell $5, to $11.25, in Nasdaq trading yesterday.
COMPANY NEWS;EXIDE ELECTRONICS TO BUY DELTEC POWER SYSTEMS
Date: 18 November 1995
Bloomberg Business News
Bloomberg News
Exide Electronics Group Inc. of Raleigh, N.C., said yesterday that it planned to buy Deltec Power Systems Inc. from the Finnish holding company Fiskars Oy A.B. for $195 million in cash and stock. Deltec Power makes uninterruptible power products that protect computers and other electronic equipment from power loss or distortions. It has customers in Scandinavia, Eastern Europe and Russia, which is expected to help Exide expand its international sales. Exide will pay Fiskars about $157.5 million in cash and $37.5 million in stock. The stock portion of the purchase price consists of 1.875 million Exide common shares valued at $20 each.
COMPANY NEWS;FEDERATED TO REVAMP, SELL OR SHUT 82 STORES
Date: 18 November 1995
Federated Department Stores Inc. disclosed yesterday that it planned to turn 40 of the 82 stores formerly operated by Broadway Stores Inc. into Macy's outlets and to sell 9 other stores to Sears, Roebuck & Company. The remaining stores will be sold, closed or turned into Bloomingdale's. the company said. Terms of the sale to Sears were not disclosed. All but one of the stores acquired are in California, where Sears has had a limited presence. The other is in Colorado. Federated, the Cincinnati-based company that completed the acquisition of Broadway Stores in October, said the 9,400 employees at the 40 stores would remain employed.
COMPANY NEWS;DELTA IS CLEARED TO LEASE SOME T.W.A. AIRPORT SLOTS
Date: 18 November 1995
Reuters
A Federal judge cleared the way yesterday for Delta Air Lines to lease 10 slots at LaGuardia Airport in New York from Trans World Airlines, rejecting breach-of-contract and antitrust arguments made by Valujet Airlines. Judge G. Ernest Tidwell of the Federal District Court in Atlanta denied Valujet's request for an injunction that would have blocked the lease. Delta immediately announced plans to expand service at LaGuardia. Valujet contended that it had reached an oral agreement with T.W.A. on Nov. 1 to lease the slots and planned to begin service between Atlanta and LaGuardia on Dec. 15.
COMPANY NEWS;SECURE COMPUTING STOCK HAS MORE THAN TRIPLED
Date: 18 November 1995
Bloomberg Business News
Bloomberg News
The shares of the Secure ComputingCorporation closed yesterday at three times the offering price on their first day of trading. Secure Computing's shares, priced at $16, closed at $48.25 on trading of almost 2.4 million shares on Nasdaq. Secure Computing, based in Roseville, Minn., makes computer network equipment designed to keep out people who try to gain access to computer networks without authorization. Secure Computing sold two million shares to raise $36 million.
WORLD NEWS BRIEFS;Algeria Election Results Seen as Blow to Militants
Date: 19 November 1995
Reuters
The victory of President Liamine Zeroual, Algeria's military-backed leader, in presidential election on Thursday was a severe blow to Muslim militants, who had threatened violence against those who voted, Algerian newspapers said today. According to the Government, Mr. Zeroual won with more than 61 percent of nearly 12 million votes cast. Official figures put voter turnout at 74.92 percent. The opposition said it was between 30 and 33 percent.
WORLD NEWS BRIEFS;Russia Fails to Meet Arms Reduction Quotas
Date: 19 November 1995
AP
Russia failed to meet its commitments to reduce its military presence in two regions by a treaty deadline Friday night, and Western nations were working with Russia to seek a compromise, diplomats said today. Russia did not meet conditions called for in a NATO-Warsaw Pact treaty to reduce troops and weapons in the Caucasus and around St. Petersburg, but met other terms.