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BUSINESS BRIEFS.(TO THE POINT)
CHEMICAL
Engelhard earnings up 12.7%
The specialty chemicals firm reported a 14.8% rise in Q4 earnings to 54 cents per share, beating views by 5 cents. Engelhard said sales rose 30% to $1.3 bil, and predicted Q1 earnings of $2.35 per share on revenue of $4.96 bil. '06 revenue is predicted at $2.13 per share. Rival BASF said it was considering raising its unsolicited $4.9 bil takeover bid to buy Englehard, and is seeking two seats on its board. Shares rose.
REAL ESTATE
Archstone-Smith falls on miss
The apartment real estate investment trust's fund from operations in Q4 rose 30% to 52 cents a share, 3 cents under views. Costs tied to hurricane damage reduced profit by nearly 5 cents. Same-store revenues rose 5.5% on higher rentals and housing prices. Archstone-Smith forecast '06 profit of $2.11-$2.21, meeting views of $2.12. Shares fell 2.5% to 46.46.
Equity Office Properties' Q4 falls
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