Lerner raises stake in MBNA
Alfred Lerner, chairman of MBNA Corp., raised his stake in the Newark, Del., bank holding company to 12.1 percent from 11.1 percent of common shares outstanding.
Mr. Lerner, who also serves as chairman of MNC Financial Inc., purchased 1 million shares at $22.875 per share through a brokerage transaction Wednesday, according to a filing with the Securities and Exchange Commission. The chairman now holds 12 million shares in MBNA, which owns MBNA America Bank N.A., the country's third-largest lender through credit cards.
Rockville firm buys Pearson assets
CDA Investment Technologies Inc. of Rockville said yesterday that it acquired a substantial portion of the assets of H. F. Pearson & Co. of Syosset, N.Y., a research firm that provides data about institutional securities investments. Terms of the deal were not disclosed. CDA, a division of Boston-based Thomson Financial Services, provides security ownership data and investment performance measurement services.
Liberty Media pursues HSN
Liberty Media Corp. said it will proceed with its plan to buy up to 15 million shares of Home Shopping Network stock after a judge refused to block the sale.
Liberty Media said yesterday that the Delaware Chancery Court denied a request to issue a preliminary injunction to halt the $105 million purchase.
Fingerhut says it is not jury target
Fingerhut Cos. denies it is a target of a federal grand jury investigation into allegations that a former jewelry buyer for the catalog retailer took kickbacks.
Chairman Theodore Deikel said the grand jury is looking into activities of John Zarogoza, chief buyer of Fingerhut's jewelry group until he was fired in August 1992. Mr. Deikel said the investigation is not concerned with the company's business practices.
Sony, Matsushita earnings drop
Battered by the rising yen and slack demand, Japan's two consumer electronics leaders, Sony Corp. and Matsushita Electric Industrial Co., yesterday reported steep drops in earnings for the fiscal year that ended March 31.
Like others in Japan's once mighty consumer electronics industry, Sony and Matsushita have been buffeted by economic problems in Japan and Europe and the lack of new hit products.
New York Blues chief resigns
The head of New York's financially troubled Empire Blue Cross and Blue Shield resigned yesterday. Albert Cardone said he was stepping down as chairman and chief executive officer because of a "desire to pursue other interests and spend more time with my six daughters and their families."