Reported by Star-Bulletin staff & wire
Tuesday, October 13, 1998
Hawaiian Air's traffic picked up in September
Hawaiian Airlines Inc. today reported a 5 percent increase in passenger traffic in September compared with a year earlier.The airline also said its revenue passenger miles -- a key measure based on one paying passenger transported one mile -- totaled 349,271,000 last month, up 18 percent.
Hawaiian said it carried 401,709 passengers in September, compared with 382,654 in the year-earlier month.
For the first nine months of 1998, its passenger count has fallen less than 1 percent to roughly 4 million. Its revenue passenger miles rose 1.6 percent to nearly 3.3 billion.
Monsanto merger axed; Cendant also halts union
American Home Products Corp. and Monsanto Co. today called off their proposed $33.6 billion merger, which would have been the biggest combination yet in the pharmaceutical industry.The companies, in their joint announcements, said only that they were scrapping the deal in the best interests of shareholders.
But Jeffrey Kraws, an analyst with Everen Securities, said Monsanto told him that the top executives from the two companies differed on how they wanted to run the combined companies.
Meanwhile, Cendant Corp., a marketer and franchiser, and American Bankers Insurance Group Inc., a credit insurer, mutually decided to end their merger plans.
Intel exceeds forecasts for earnings by 9 cents
SANTA CLARA, Calif. -- Intel Corp. reported better-than-expected third-quarter earnings af ter the market closed today as personal-computer makers bought more of its computer chips for back-to-school and holiday models. Profits fell less than 1 percent to $1.56 billion, or 89 cents a share, from $1.57 billion, or 88 cents, in the year-earlier period. Intel was expected to earn 80 cents a share, according to First Call Corp.
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