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By Bloomberg Business News | September 15, 1993
Mercantile Bankshares Corp. said yesterday that its board of directors approved a three-for-two split of its common shares and a dividend increase that raises the company's payout 13 percent.The company will pay a 17 cent quarterly dividend on the new larger number of shares outstanding, compared with a 15-cent dividend on a post-split basis, on Sept. 30 to shareholders of record Sept. 24.The company was paying a quarterly dividend of 22.5 cents on its pre-split shares.Mercantile's common shares closed up 12.5 cents a share, at $30.75, in Nasdaq trading.
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BUSINESS
By BLOOMBERG NEWS | November 11, 2005
SANTA CLARA, CALIF. -- Intel Corp., the world's biggest computer-chip maker, said yesterday that it plans to spend $25 billion buying back stock. That would be the second-largest share repurchase in the United States behind Microsoft Corp.'s record $30 billion buyback. At current prices, the buyback would amount to about 17 percent of the company's stock. Intel also said it will increase its dividend by 25 percent, to 10 cents a share. Intel and Microsoft, sitting on record piles of cash, are choosing to return money to shareholders rather than making acquisitions or investing in new ventures.
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BUSINESS
By BLOOMBERG NEWS | May 18, 2005
REDONDO BEACH, Calif. - Shareholders of Northrop Grumman Corp., the world's largest builder of warships, overwhelmingly approved yesterday the company's proposal to elect directors annually to improve the board's accountability. Annual director elections won support from holders representing 318 million shares, or about 89 percent of shares outstanding, Northrop said. Northrop's directors are now divided into three classes and elected to staggered three-year terms. The directors will be elected to one-year terms after the three-year terms of each class expire in 2006, 2007 and 2008.
BUSINESS
By BLOOMBERG NEWS | May 18, 2005
REDONDO BEACH, Calif. - Shareholders of Northrop Grumman Corp., the world's largest builder of warships, overwhelmingly approved yesterday the company's proposal to elect directors annually to improve the board's accountability. Annual director elections won support from holders representing 318 million shares, or about 89 percent of shares outstanding, Northrop said. Northrop's directors are now divided into three classes and elected to staggered three-year terms. The directors will be elected to one-year terms after the three-year terms of each class expire in 2006, 2007 and 2008.
BUSINESS
February 27, 1998
Lockheed Martin Corp. and Northrop Grumman Corp. shareholders yesterday approved Lockheed's purchase of Northrop for about $12 billion.Lockheed shareholders approved the transaction during a shareholder meeting in Orlando, Fla. Northrop Grumman shareholders met in Los Angeles. Both votes were overwhelmingly in favor of the combination, which is awaiting approval from the Justice Department and the Defense Department.At the Northrop meeting, more than 54 million shares were voted, representing about 80 percent of the total shares outstanding.
BUSINESS
February 23, 1994
BioWhittaker Inc... .. .. .. .. .. .. .. .. .Ticker .. .. .. .. ..Yesterday's.. .. .. .. .. .. .. .. .. .Symbol .. ...Cls... .. .. ..Chg... .. .. .. .. .. .. .. .. ..BWI .. .. ...7 3/4 .. .. .. .. ..+ 1/2Period endedJan. 31 .. .. .. .. .. ...1st qtr. .. .Year ago .. .. .Chg.Revenue .. .. .... .. .. .$13,283 .. ...$11,850 .. ..+12.0%Net Income .. .. .. .. .. ...$502 .. .. ...$535 .. ...-6.2%Primary EPS* .. .. .. .. ...$0.05 .. .. ..$0.05 .. .. ...--Figures in thousands (except per share data)
BUSINESS
By HOUSTON CHRONICLE | February 2, 1998
The latest earnings reports likely befuddled some investors. Companies that always reported "primary" and "fully diluted" earnings suddenly were listing "basic" and "diluted" figures.Earnings per share is a simple concept: It's the portion of a company's profit allocated to each share of common stock. You calculate it by dividing total earnings by the number of shares outstanding. A company earning $10 million and with 10 million shares outstanding would report earnings of $1 per share.The idea of outstanding stock is simple enough: It's shares owned by investors.
BUSINESS
By BLOOMBERG NEWS | March 21, 2000
PARAMUS, N.J. --Toys `R' Us Inc., whose shares have fallen two-thirds in three years, said it plans to buy back as much as $1 billion of its stock and take its Japanese unit public. The buyback, which could amount to one-third of shares outstanding, and the initial sale in Japan are aimed at boosting a stock that has fallen from $37.125 in November 1996. Yesterday, the shares rose $1.0625 to $13.50. The steps are the latest by John Eyler, who took over as president and chief executive officer in January, to reinvigorate the largest U.S. toy store chain.
BUSINESS
By BLOOMBERG NEWS | September 29, 1998
OAK BROOK, Ill. -- McDonald's Corp. said yesterday that it plans to buy back $3.5 billion worth of its stock, or 8.9 percent of shares outstanding, over the next three years to bolster its lagging stock price.The company also said it expects to meet earnings estimates for the third quarter. It is expected to earn 69 cents a share, according to analysts surveyed by First Call Corp., up from 63 cents a year earlier.The buyback, which is 75 percent larger than the $2 billion, three-year program McDonald's completed last month, demonstrates the hamburger maker's ability to generate free cash as it cuts capital spending, analysts said.
BUSINESS
By Rona Kobell and Rona Kobell,SUN STAFF | October 20, 2000
One day after releasing record third-quarter earnings, Black & Decker Corp. said its board of directors increased the number of shares the company is authorized to repurchase. The Towson-based toolmaker ended its third quarter with authorization to purchase 2.2 million shares. The board added 3 million yesterday, authorizing the company to buy back 5.2 million shares, or 6 percent of the shares outstanding. Typically, a company buys back its shares when it believes them to be undervalued.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | April 6, 2002
InforMax Inc. Chief Executive Officer Andrew Whiteley had been on the job for only five days yesterday, but already he was spending much of his time trying to persuade investors and others that the company has a future. To survive, the Bethesda company that makes software for gene-sleuthing scientists will have to escape a fate that has claimed a number of companies in the fledgling field known as bioinformatics. And it will have to overcome a first quarter in which its net loss ballooned 86 percent to $7.8 million, according to preliminary financial results released late Thursday.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | January 10, 2002
BioReliance Corp. shares plummeted nearly 33 percent yesterday after its chief executive outlined higher earnings expectations but cautioned investors who had run up the stock in an apparent bet that the company would reap major benefits from the war on terrorism. Shares of the Rockville contract manufacturer fell $10.69 to $22.08 as nearly 2.6 million shares traded hands, more than 15 times the average daily volume of about 168,000 shares over the last six months. The company's market capitalization - a measure of its value figured by multiplying its share price by the number of shares outstanding - lost $88.5 million on the day, finishing at $182.
BUSINESS
By Rona Kobell and Rona Kobell,SUN STAFF | October 20, 2000
One day after releasing record third-quarter earnings, Black & Decker Corp. said its board of directors increased the number of shares the company is authorized to repurchase. The Towson-based toolmaker ended its third quarter with authorization to purchase 2.2 million shares. The board added 3 million yesterday, authorizing the company to buy back 5.2 million shares, or 6 percent of the shares outstanding. Typically, a company buys back its shares when it believes them to be undervalued.
BUSINESS
By BLOOMBERG NEWS | March 21, 2000
PARAMUS, N.J. --Toys `R' Us Inc., whose shares have fallen two-thirds in three years, said it plans to buy back as much as $1 billion of its stock and take its Japanese unit public. The buyback, which could amount to one-third of shares outstanding, and the initial sale in Japan are aimed at boosting a stock that has fallen from $37.125 in November 1996. Yesterday, the shares rose $1.0625 to $13.50. The steps are the latest by John Eyler, who took over as president and chief executive officer in January, to reinvigorate the largest U.S. toy store chain.
BUSINESS
By BLOOMBERG NEWS | February 3, 2000
LOS ANGELES -- Times Mirror Co., the nation's No. 3 publisher of newspapers, said yesterday that fourth-quarter profit fell nearly 12 percent because of higher interest expense from new debt to fund a transaction with its controlling Chandler family. Profit from continuing operations fell to $67.5 million from $75.5 million in the year-earlier period. A decrease in the number of shares outstanding caused per-share profit to rise to $1.03 from 87 cents, matching analysts' estimates. Times Mirror and the Chandler family last year transferred $2.5 billion in cash, investments and stock to a new partnership as part of a recapitalization that cut the number of Times Mirror's shares outstanding and its preferred dividend payments.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | December 22, 1999
Two thinly traded companies started by broker Nathan A. Chapman Jr. have suddenly become hot stocks, and yesterday they each soared at least 25 percent.Shares of Chapman Holdings Inc., a Baltimore-based brokerage and investment banking firm, jumped 32.7 percent, or $4.375 per share, to a high of $17.75 at the 4 p.m. close.Shares of Chapman Capital Management Holdings Inc., an investment management company, climbed 25 percent, or $3.75 per share, to a high of $18.75.In the past 2 1/2 weeks, the shares of both companies have rocketed 689 percent from their lows, Chapman Holdings zooming from a 52-week low of $2.25 on Dec. 8 and Chapman Capital rising from its low of $2.375 reached Dec. 6."
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | August 7, 1998
Frederick Brewing Co. reported a second-quarter loss yesterday of $1.9 million, double its $950,000 loss in the same quarter last year.The loss amounted to 20 cents a share, with 9.5 million shares outstanding, vs. 45 cents in the same period last year, when the company had 2 million shares outstanding.The Frederick-based craft brewery, whose lines include Blue Ridge and Hempen, warned of the loss last month when it announced it was eliminating six salaried positions and cutting senior management pay in a cost-saving move.
BUSINESS
By BLOOMBERG NEWS | February 3, 2000
LOS ANGELES -- Times Mirror Co., the nation's No. 3 publisher of newspapers, said yesterday that fourth-quarter profit fell nearly 12 percent because of higher interest expense from new debt to fund a transaction with its controlling Chandler family. Profit from continuing operations fell to $67.5 million from $75.5 million in the year-earlier period. A decrease in the number of shares outstanding caused per-share profit to rise to $1.03 from 87 cents, matching analysts' estimates. Times Mirror and the Chandler family last year transferred $2.5 billion in cash, investments and stock to a new partnership as part of a recapitalization that cut the number of Times Mirror's shares outstanding and its preferred dividend payments.
BUSINESS
December 8, 1998
Dexter Corp. yesterday raised to $39.125 a share from $37 its unsolicited offer to buy the 48 percent of Rockville-based Life Technologies Inc. it doesn't already own after the specialty chemicals maker failed to get the minimum number of shares required in its earlier bid.The new offer totals about $447 million, up from $420 million. A committee at Life Technologies rejected Dexter's July bid as inadequate, and Dexter took the offer directly to Life Technologies shareholders last month.Windsor Locks, Conn.
BUSINESS
By BLOOMBERG NEWS | September 29, 1998
OAK BROOK, Ill. -- McDonald's Corp. said yesterday that it plans to buy back $3.5 billion worth of its stock, or 8.9 percent of shares outstanding, over the next three years to bolster its lagging stock price.The company also said it expects to meet earnings estimates for the third quarter. It is expected to earn 69 cents a share, according to analysts surveyed by First Call Corp., up from 63 cents a year earlier.The buyback, which is 75 percent larger than the $2 billion, three-year program McDonald's completed last month, demonstrates the hamburger maker's ability to generate free cash as it cuts capital spending, analysts said.
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