Investors have been urged by Salomon Brothers Inc to buy into the initial public offering of 1,128-store retail drug chain Hook-SupeRx Inc. Hook-SupeRx is offering $103 million in equity (7.9 million shares traded at 13) and$145 million in senior notes. Salomon Brothers predicts an 80% income growth for fiscal year 1993 and estimates 84 cents per share for the drug chain in 1992 and $1.31 in 1993. Hook-SupeRx has recorded a 340% rise in profits for nine months ending May 1992 along with 5.9% growth in same-store sales. The 13.8 million shares offers no dividends.
Publication Name: The Insiders' Chronicle
The impact of current-valued data on the predictive judgments of investors
A human data processing experiment was conducted to examine the effect of replacement cost on investors' predictive judgments. Historic cost or replacement cost data were provided to both sophisticated and unsophisticated investors, or both types of data were given. The investors were asked to predict share price performance for drug and chemical stocks. It was found that replacement cost data led to lower accuracy, as well as consensus among users, and that the poorer performance was probably tied to replacement cost data usage more so than to information load.
Publication Name: Accounting, Organizations and Society
US drugs firm Pharmacia is forecast to see strong earnings growth, and its shares are tipped to rise. Pharmacia was formed from Pharmacia & Upjohn's 1999 takeover of Monsanto, and it is now seeing the fruits of the merger.
Publication Name: Investors Chronicle
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