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By Paul Adams and Paul Adams,SUN STAFF | May 5, 2001
RailWorks Corp.'s bid to remain listed on the Nasdaq stock market got a boost yesterday when the Baltimore County company's shareholders authorized a reverse stock split. RailWorks officials are hoping that the reverse split will raise the company's stock price above the $5 minimum bid price required for listing on the Nasdaq. The cash-strapped railroad and transportation services company considers maintaining the listing important to its efforts to attract new shareholders and keep those it already has. A Nasdaq listing is favored by shareholders because it is generally cheaper and easier than trading shares on the non-Nasdaq, over-the-counter market, which tends to attract fewer buyers.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 28, 2013
Baltimore's two major mutual fund companies have joined a small but growing number of investment firms offering ultrashort-term bond funds, which may become an alternative to the traditional money market fund. The T. Rowe Price Ultra Short-Term Bond Fund launched in December and has $175 million in assets. Legg Mason Inc.'s California subsidiary this month filed to register the Western Asset Ultra Short Obligations Fund with regulators. There are now close to 50 ultrashort bond funds, with seven of them introduced last year, according to Morningstar Inc., which tracks funds.
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BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | March 11, 1999
Guilford Pharmaceuticals Inc. and senior company executives bought 150,000 shares of company stock yesterday in a move to shore up confidence in the biotechnology firm and its languishing stock price."
EXPLORE
By Bailey Shiffler | March 5, 2013
While it might be tough to imagine heading out to a local farm for an armful of fresh vegetables when it's still chilly, it's almost that time of year. Harford County farms are gearing up for growing season, and that means it's time to sign up for a Community Supported Agriculture program. CSAs, if you don't know, are programs run by (usually) small farms that allow nearby residents to buy a share of their growing season crops. The result: An upfront fee gets you a weekly trip to the farm for a load of produce from about May through October or even November.
BUSINESS
By BLOOMBERG BUSINESS NEWS | November 27, 1996
ARMONK, N.Y. -- International Business Machines Corp. said yesterday that it plans to buy back as much as $3.5 billion of its stock, bolstering its shares at near-record levels on a day other computer stocks fell."
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | December 21, 1999
Creditrust Corp., a fast-growing firm that collects and manages delinquent credit-card accounts, said yesterday that it has hired Goldman, Sachs & Co. to advise it on "strategic alternatives," including finding a large partner to buy a significant equity stake in the company, or selling the business outright.Joseph K. Rensin, Creditrust's chairman and chief executive, said a new partner would help fuel the Baltimore company's growth and revive its ailing stock price."We are the largest purchaser of delinquent credit cards in the U.S. and given less credit today on Wall Street than the day we went public, which doesn't make any sense," Rensin said.
BUSINESS
By Donald Saltz | December 20, 1991
Based on the way it's usually been over the decades, what you see in the stock market today is an indication of what the economy will be in about six months. The market is not a thermometer, it's a barometer.However, the stock market is uneven to an unusual degree. A number of share prices have been hit hard, but many others are near their highs, a mixture that throws a haze over the picture down the road.In the financial world, for example, the share prices of securities firms are strong but those of banks and savings and loans are weak.
BUSINESS
By Donald Saltz | May 29, 1992
It is only in recent months that the viability of what have been troubled banks appears to be secure after a couple of tense years when the balance sheets of many banks were shattered by failing commercial real estate loans and subsequent losses. Bank holding companies that appeared mired in red ink now see a brightening light ahead of them.The non-paying loans are still there, but they're mostly accounted for, and current operations of the banks are profitable. In most cases for the depressed banks, earnings are rather modest, but the very fact that these banks are operating in the black is encouraging to the stock market.
BUSINESS
By Donald Saltz | September 13, 1991
Bank stocks have suffered through the last couple of years as poor real estate loans became visible and earnings tumbled. This has been a time of banks merging out of necessity, and in other cases, of hanging on with difficulty.Most of the troubles in the banking industry are known. In some cases, though, the severity of the problems could become even greater, such as deepening losses on real estate loans. In general, though, the troubles are spread before us.The question in the minds of investors is whether bank shares have suffered the worst or, are they at the bottom and ready to go up.It appears that many bank stocks are at their worst, but it also seems as if there isn't any strength to push up the share prices of the problem banks.
BUSINESS
By Donald Saltz | March 27, 1992
For many investors -- those who follow the stock market carefully and who have good memories -- there is a major investment dilemma: whether to consider buying shares that have had a strong run-up over the years but, on fundamentals, are still good buys.Take, for example, the shares of T. Rowe Price Associates of Baltimore, which were initially sold to the public in 1986 at $24 a share. Since then, the shares have split 2-for-1 and, in recent months, the price was near $50 a share -- that's near $100 on the stock that was sold in '86.Recently, T. Rowe Price shares have been $38 to $39, or $76 to $78 on the original issue, which represents more than a tripling in their value.
BUSINESS
Gus G. Sentementes | March 29, 2012
Millennial Media Inc., a Baltimore-based mobile advertising company, broke a years-long IPO drought in the city's technology sector and went public today on the New York Stock Exchange with an opening share price of $13.  Shares immediately shot up to $25 in the opening moments of trading, nearly double its initial opening price. Paul Palmieri, Millennial's chief executive officer, rang the opening bell at the exchange to kick off trading. The company, founded Palmieri, a former Verizon Wireless executive, and a former Advertising.com executive, is the first of a new breed of companies targeting the booming mobile advertising sector to go public.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | July 1, 2005
McCormick & Co. reported yesterday that profits were essentially flat compared with a year ago and lowered its earnings projections for the rest of the year, blaming unfavorable moves in foreign currency rates and slipping sales to its industrial customers. The Sparks spice maker said net income in the quarter ended May 31 was $42.8 million, or 31 cents per share, compared with $42.9 million, or 30 cents per share, for the year-earlier quarter. Sales climbed 5 percent to $629 million as a result of new products and the acquisition of Dutch spice maker C.M. van Sillevoldt BV in November.
BUSINESS
By Andrew Leckey | June 5, 2005
When Yogi Berra, baseball's king of misguided logic, was asked by a waitress whether he wanted his pizza cut into four or eight slices, he responded: "Better make it four. I don't think I can eat eight." Stock splits are a lot like slicing pizza. Whenever a company splits its shares 2-for-1 or 3-for-1, the investor winds up with more shares, but the value of the investment isn't any greater. Reasonably priced shares tend to attract more money from average investors, giving the stock a boost, but such results are not assured.
BUSINESS
By Laura Smitherman and Laura Smitherman,SUN STAFF | May 5, 2005
Legg Mason Inc., the Baltimore-based investment management firm, yesterday posted its biggest one-day gain on Wall Street in years after it reported a 28 percent increase in earnings for the first three months of this year. Legg Mason earned $117.6 million during the period, its fourth quarter for fiscal 2005, and a total of $408.4 million for the year. Quarterly earnings per share rose to 98 cents from 80 cents during the year-earlier period. The news sent the shares soaring $8.92 yesterday, or 13 percent, to $79.47.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | November 4, 2004
United Therapeutics Corp. said yesterday that rising sales of its pulmonary hypertension medicine, Remodulin, pushed it to its second consecutive profitable quarter and that changes to a government reimbursement program would encourage pharmacies to keep the drug on their shelves. The double dose of good news, as well as pending approval of a new version of the drug, drove the Silver Spring company's stock price up 8.17 percent, or $2.56, to $33.89 yesterday. "We are very pleased to report that United Therapeutics has performed well financially, which helps to enable our continued spending on developing new medicines," said Martine Rothblatt, chairman and chief executive.
NEWS
By Paul Adams and Paul Adams,SUN STAFF | August 20, 2004
Not since the late 1970s have multinational, integrated oil companies, refiners and the industrial giants who supply them seen so much green. With crude oil approaching a record $49 a barrel and expected to climb higher, much of the oil industry is enjoying a boomlet that has sent shares skyward along with bottom lines. With every dollar of price increase, the industry sees the value of its reserves go up. And it didn't have to lift a finger. "Their balance sheets look very good because all of the reserves are valued more highly and their cash flow is also improving dramatically," said Thorsten Fischer, an oil industry expert and senior economist with Economist.
BUSINESS
By Donald Saltz | July 26, 1991
Many investors wonder why corporations split their shares and thus create more shares at lower prices. Why not keep the same number of old shares trading at whatever price the market puts on them?Stocks are split for several good reasons, among them to make the stock price more appealing to buyers. Investors prefer owning as many shares as possible even if each one of them is lower priced. Most of us prefer to own 200 shares of a $20 stock rather than 100 shares of a $40 stock. Although the share price is lower, it still represents the same percentage of ownership.
BUSINESS
By Donald Saltz | May 8, 1992
Financial stocks might scare a lot of investors who immediately think about banks and their loan troubles. But the group also includes mutual funds, brokerage firms and insurance companies, and many of them have been good performers.Recently, for example, directors of GEICO Corp. of Chevy Chase voted a 5-for-1 stock split after another strong year that elevated the share price to a record high of above 230.USF&G Corp. reported a quarterly profit before allowing for preferred stock dividends, this coming after a very poor year in which the big insurance holding company lost $590 million.
BUSINESS
By BLOOMBERG NEWS | June 24, 2003
CHARLOTTE, N.C. - For Bank of America Corp. employees such as Linda Ham, today may be a $580 million payday. That's how much the 132,500 people who work for the third-biggest U.S. bank will be able to earn together by exercising options they received last year for about 35 million shares. "It is definitely a motivation," said Ham, 54, a trust officer for Charlotte-based Bank of America's private bank in Dallas. She has worked there for 3 1/2 years. Chairman and Chief Executive Officer Kenneth D. Lewis intended that in Feb. 1, 2002, when he tied stock options for 120,000 tellers, loan officers and other nonmanagement workers to gains in the stock price.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | May 6, 2003
NEW YORK - Ted Turner, the vice chairman of AOL Time Warner and its largest individual shareholder, said yesterday that he had sold about 60 million shares, more than half of his holdings in the company, for about $789 million. People close to Turner said the sale reflected a growing disenchantment with the company's prospects. He effectively capitulated to the 70 percent decline in the share price over the past two years, giving up hope of a significant rebound in the near future. The reasons for his timing in unloading such a large stake were unclear.
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