Hilton cites Asia in profit warning for 3rd quarter

Article Abstract:

Hilton Hotels Corp. cautioned that it is expecting to post lower-than-expected earnings for the third-quarter of 1998. The forecasts results from the effect of the Asian economic crisis on the US lodging industry. Hilton said that it is expecting to post per-share net income in the "low-30-cent range" for the quarter. Analysts had predicted a 38 cent per share net income. During the same period in 1997, Hilton posted $94 million in net income.

Comment:

Hilton Hotels Corp. cautions that it is expecting to post lower-than-expected earnings for the third-quarter of 1998

Sales, profits & dividends, Company Planning/Goals, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Hotels and motels, Hilton Hotels Corp., Article

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Bergen to buy PharMerica Inc. in stock deal

Article Abstract:

PharMerica, Inc., for sale since November 1998, will be purchased by Bergen Brunswig Corp. for $666 million in stock plus debt. PharMerica brings 500,000 nursing home patients to the deal, people who get their drugs packaged in daily doses. The Florida-based company has been a customer of Bergen's. This merger should create a layer of cost savings in the distribution channel, although Medicare changes could have an effect also.

Comment:

Co. to buy PharMerica for $666 million in stock and debt

Asset sales & divestitures, Acquisitions & mergers, Drugs and Druggists' Sundries Wholesalers, Drugs, proprietaries, and sundries, Drugs Wholesale, Drugs, Pharmaceutical industry, Mergers, acquisitions and divestments, Abstract, Nursing homes, Pharmaceutical services, Bergen Brunswig Corp., BBC, Drug wholesalers, PharMerica, DOSE

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