PHH expects 'excellent' earningsThe chief financial...

BUSINESS DIGEST

August 20, 1993

PHH expects 'excellent' earnings

The chief financial officer of PHH Corp. of Hunt Valley, Roy Meierhenry, said the company plans to release an "excellent" first-quarter earnings report Monday and says that "with a little help from the economy," PHH could exceed analysts' estimates that it will earn $3.55 to $3.60 a share in fiscal 1994.

IHS to list stock on NYSE

Integrated Health Services Inc. of Hunt Valley said it has been cleared to list its stock on the New York Stock Exchange beginning in October. IHS shares now are traded on NASDAQ.

MNC to sell mortgage unit

MNC Financial Inc. has completed an agreement to sell its mortgage subsidiary to First Tennessee Corp. of Memphis.

The deal to sell Maryland National Mortgage Corp., which is expected to close in the fourth-quarter of this year, is for $115.6 million.

U.S. won't challenge paper deal

The Justice Department said it would not challenge the acquisition by the New York Times Co. of the Boston Globe in what has been called the biggest deal in U.S. newspaper history.

Aspen workers buy company

Employees and the management of Aspen Systems Corp. have acquired all the company's common stock from its corporate parent, Wolters Kluwer nv, in Amsterdam. Aspen is an information management and technical services company with headquarters in Rockville.

About 500 of its 1,000 employees work in Rockville, Annapolis Junction and Silver Spring. The company has 200 workers in Washington and the rest are scattered throughout the country. The purchase price was not disclosed.

QVC earnings up 52.9 percent

QVC Network Inc., the nation's largest cable shopping channel, reported a 52.9 percent increase in earnings for the second quarter, partly because more cable companies are subscribing.

Insider trader gets fines

A Connecticut man charged with insider trading in the 1988 takeover of Gartner Group Inc. by Saatchi and Saatchi Co. PLC was ordered to pay $164,298 in fines and forfeitures yesterday.

The order was issued against Robert Charles Troup by U.S. District Judge T. F. Gilroy Daly of Connecticut, the Securities and Exchange Commission said.

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