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BUSINESS
By BLOOMBERG NEWS | October 9, 1998
NEW YORK -- Citigroup, formed yesterday by the $37.4 billion merger of Travelers Group Inc. and Citicorp, said it expects that losses in global markets drove its third-quarter earnings down by 67 percent from last year's levels.Citigroup said it's likely to report earnings of about $700 million as investment in Russia and emerging markets caused losses at Salomon Smith Barney and Citicorp. Had Citicorp and Travelers combined a year ago, they would have reported profit from tTC operations of $2.1 billion, excluding a charge related to Citicorp job cuts that drove net income to $1.5 billion.
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BUSINESS
By EILEEN AMBROSE | March 20, 2005
IF IT SEEMS that more companies these days are marrying their competitors, you're right. The value of mergers and acquisitions this year is projected to surpass $1 trillion, a threshold not crossed since a peak of merger activity in 2000, according to the research firm Thomson Financial. Deals often are announced with lots of hype and promises of synergies from chief executives. But what does it mean for small investors who are swept up in the deal because they own stock in one of the companies?
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SPORTS
By Kent Baker and Kent Baker,SUN STAFF | May 4, 1996
The Woodlawn Stakes, which has a long history of producing Preakness starters, has drawn a field of 10 today at Pimlico Race Course.Allied Forces is the probable favorite in the $75,000 race for 3-year-olds at 1 1/16 miles on the turf.Owned by Ahmed Al Tayer, Allied Forces is one of three Triple Crown nominees in the field (Optic Nerve and Currency Arbitrage are the others).He was under consideration for today's Kentucky Derby, but his connections decided against running when he "got beat in a couple of mock races against older horses in Dubai," according to trainer Kiaran McLaughlin.
BUSINESS
By JAY HANCOCK | January 28, 2004
THE AMAZING ascent of home prices in Greater Baltimore began around 1999 and was already stoking salon chitchat in Guilford and sofa sales at IKEA a year later. "Sellers seek, get big bucks," was the headline in The Sun in August 2000. But the bucks weren't that big. Although the median sales price of a metro-Baltimore home was $153,000 in 2000 - up 15 percent from the year before - the party hadn't progressed beyond hors d'oeuvres and aperitifs. In June 2002 this column predicted "home-price inflation in the next five years like we haven't seen since the 1980s, with multiyear, double-digit percentage pops."
BUSINESS
By BLOOMBERG BUSINESS NEWS | July 20, 1996
NEW YORK -- The Securities and Exchange Commission yesterday approved a plan to shorten U.S. stock exchange trading halts that would be imposed if markets fall steeply.Under the new rule, the New York Stock Exchange, the Nasdaq stock market, the American Stock Exchange and other U.S. exchanges would halt trading for half an hour if the Dow Jones industrial average falls 250 points.If the Dow falls by 400 points, trading would be halted for an hour.The so-called "circuit breakers" rule -- established in 1990 in the wake of the October 1987 stock market crash -- originally called for a one-hour halt with a 250-point drop and a two-hour halt with a 400-point drop.
BUSINESS
By BLOOMBERG BUSINESS NEWS | June 2, 1996
NEW YORK -- Bond trader John Meriwether and his colleagues at Long Term Capital Management earned investors 20.1 percent on their money in the first four months of 1996, putting them on pace for a third mammoth year, investors said.At that pace, the Greenwich, Conn., firm could top its 1995 performance, when it generated a return of 42.8 percent after fees. Such huge returns are reaping a fortune for Meriwether and his 11 colleagues, who in 1995 collected more than $300 million in fees, investors said.
SPORTS
By Kent Baker and Kent Baker,SUN STAFF | May 5, 1996
Favored Allied Forces received an ideal ride from Edgar Prado yesterday and drew off in the stretch to win the $75,000 Woodlawn Stakes by 3 1/2 lengths over Optic Nerve.The race probably did not produce any Preakness starters with the first two finishers being primed for the Jersey Derby at Garden State Park Memorial Day.Prado kept his mount in good position behind pacesetting Currency Arbitrage and Optic Nerve, then began seriously moving him at the eighth pole.Allied Forces responded well in his first start in since last July, pulling away from Optic Nerve to the wire.
BUSINESS
By BLOOMBERG NEWS | December 26, 1997
NEW YORK -- Travelers Group Inc.'s purchase of Salomon Inc. was hailed as a triumph for Chairman Sanford I. Weill when it was announced in September. Now it's drawing mixed reviews on Wall Street.Eight of nine analysts polled by IBES International Inc. have pared fourth-quarter earnings estimates for Travelers, which completed the $9.3 billion purchase last month. Analysts cut forecasts more than 13 cents a share on average, or about 20 percent, to 60 cents.The lower profit forecasts followed Travelers' disclosure last month that Salomon, the biggest trader in the global bond market, had lost $60 million in October's financial tumult.
BUSINESS
By JAY HANCOCK | January 28, 2004
THE AMAZING ascent of home prices in Greater Baltimore began around 1999 and was already stoking salon chitchat in Guilford and sofa sales at IKEA a year later. "Sellers seek, get big bucks," was the headline in The Sun in August 2000. But the bucks weren't that big. Although the median sales price of a metro-Baltimore home was $153,000 in 2000 - up 15 percent from the year before - the party hadn't progressed beyond hors d'oeuvres and aperitifs. In June 2002 this column predicted "home-price inflation in the next five years like we haven't seen since the 1980s, with multiyear, double-digit percentage pops."
BUSINESS
By Bloomberg Business News | December 22, 1994
NEW YORK -- U.S. stocks rebounded yesterday, wiping away two days of losses, amid prospects for a year-end rally and optimism that corporate profit growth will continue to expand next year.Gains in software, semiconductor, retail, drug and financial stocks fueled the advance."I don't think the real world has changed that much, but people are buying on hopes of a year-end rally and reinvestment demand," said Michael Metz, chief investment officer at Oppenheimer & Co. "You have something of a seller's strike."
BUSINESS
By BLOOMBERG NEWS | October 9, 1998
NEW YORK -- Citigroup, formed yesterday by the $37.4 billion merger of Travelers Group Inc. and Citicorp, said it expects that losses in global markets drove its third-quarter earnings down by 67 percent from last year's levels.Citigroup said it's likely to report earnings of about $700 million as investment in Russia and emerging markets caused losses at Salomon Smith Barney and Citicorp. Had Citicorp and Travelers combined a year ago, they would have reported profit from tTC operations of $2.1 billion, excluding a charge related to Citicorp job cuts that drove net income to $1.5 billion.
BUSINESS
By BLOOMBERG NEWS | December 26, 1997
NEW YORK -- Travelers Group Inc.'s purchase of Salomon Inc. was hailed as a triumph for Chairman Sanford I. Weill when it was announced in September. Now it's drawing mixed reviews on Wall Street.Eight of nine analysts polled by IBES International Inc. have pared fourth-quarter earnings estimates for Travelers, which completed the $9.3 billion purchase last month. Analysts cut forecasts more than 13 cents a share on average, or about 20 percent, to 60 cents.The lower profit forecasts followed Travelers' disclosure last month that Salomon, the biggest trader in the global bond market, had lost $60 million in October's financial tumult.
BUSINESS
By BLOOMBERG BUSINESS NEWS | July 20, 1996
NEW YORK -- The Securities and Exchange Commission yesterday approved a plan to shorten U.S. stock exchange trading halts that would be imposed if markets fall steeply.Under the new rule, the New York Stock Exchange, the Nasdaq stock market, the American Stock Exchange and other U.S. exchanges would halt trading for half an hour if the Dow Jones industrial average falls 250 points.If the Dow falls by 400 points, trading would be halted for an hour.The so-called "circuit breakers" rule -- established in 1990 in the wake of the October 1987 stock market crash -- originally called for a one-hour halt with a 250-point drop and a two-hour halt with a 400-point drop.
BUSINESS
By BLOOMBERG BUSINESS NEWS | June 2, 1996
NEW YORK -- Bond trader John Meriwether and his colleagues at Long Term Capital Management earned investors 20.1 percent on their money in the first four months of 1996, putting them on pace for a third mammoth year, investors said.At that pace, the Greenwich, Conn., firm could top its 1995 performance, when it generated a return of 42.8 percent after fees. Such huge returns are reaping a fortune for Meriwether and his 11 colleagues, who in 1995 collected more than $300 million in fees, investors said.
SPORTS
By Kent Baker and Kent Baker,SUN STAFF | May 5, 1996
Favored Allied Forces received an ideal ride from Edgar Prado yesterday and drew off in the stretch to win the $75,000 Woodlawn Stakes by 3 1/2 lengths over Optic Nerve.The race probably did not produce any Preakness starters with the first two finishers being primed for the Jersey Derby at Garden State Park Memorial Day.Prado kept his mount in good position behind pacesetting Currency Arbitrage and Optic Nerve, then began seriously moving him at the eighth pole.Allied Forces responded well in his first start in since last July, pulling away from Optic Nerve to the wire.
SPORTS
By Kent Baker and Kent Baker,SUN STAFF | May 4, 1996
The Woodlawn Stakes, which has a long history of producing Preakness starters, has drawn a field of 10 today at Pimlico Race Course.Allied Forces is the probable favorite in the $75,000 race for 3-year-olds at 1 1/16 miles on the turf.Owned by Ahmed Al Tayer, Allied Forces is one of three Triple Crown nominees in the field (Optic Nerve and Currency Arbitrage are the others).He was under consideration for today's Kentucky Derby, but his connections decided against running when he "got beat in a couple of mock races against older horses in Dubai," according to trainer Kiaran McLaughlin.
BUSINESS
By EILEEN AMBROSE | March 20, 2005
IF IT SEEMS that more companies these days are marrying their competitors, you're right. The value of mergers and acquisitions this year is projected to surpass $1 trillion, a threshold not crossed since a peak of merger activity in 2000, according to the research firm Thomson Financial. Deals often are announced with lots of hype and promises of synergies from chief executives. But what does it mean for small investors who are swept up in the deal because they own stock in one of the companies?
BUSINESS
By Ross Hetrick | December 16, 1991
When Traci Shanbrun Lerner and her two partners were setting up their new business at the Woodholme Center in Pikesville this fall, they got some questioning looks from the building's managers.They would need two satellite dishes installed on the roof, they said. The operation would also require seven telephone lines, several computers and two fax machines, all for just three people."They must have thought we were setting up a bookie operation," said Mrs. Lerner, of Chesapeake Partners.What they were setting up was a risk-arbitrage operation, a stock trading business that is unique to the Baltimore area.
BUSINESS
By Bloomberg Business News | December 22, 1994
NEW YORK -- U.S. stocks rebounded yesterday, wiping away two days of losses, amid prospects for a year-end rally and optimism that corporate profit growth will continue to expand next year.Gains in software, semiconductor, retail, drug and financial stocks fueled the advance."I don't think the real world has changed that much, but people are buying on hopes of a year-end rally and reinvestment demand," said Michael Metz, chief investment officer at Oppenheimer & Co. "You have something of a seller's strike."
BUSINESS
By Ross Hetrick and Ross Hetrick,Evening Sun Staff | December 16, 1991
When Traci Shanbrun Lerner and her two partners were setting up their new business at the Woodholme Center inPikesville this fall, they got some questioning looks from the building's managers.They would need two satellite dishes installed on the roof, they said. The operation would also require seven telephone lines, several computers and two fax machines, all for just three people."They must have thought we were setting up a bookie operation," said Lerner, of Chesapeake Partners.What they were setting up was a risk-arbitrage operation, a stock trading business that is unique to the Baltimore area.
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