With Stock Flat, Dun & Bradstreet Tries A New Tack

Dun & Bradstreet Corp. completed its split into three publicly traded companies, separating its faster-growing data division from its credit reporting businesses.

The world’s largest marketer of financial, credit and marketing information to businesses awarded its shareholders one share in its Cognizant data business for each Dun & Bradstreet share they hold. It also awarded them one share of ACNielsen, which supplies consumer market information, for each three Dun & Bradstreet shares.

The split was intended to boost Dun & Bradstreet’s shares, which had barely risen in the two years before the move was announced in January. The company had been dominated by its larger credit reporting and Moody’s Investors Service business.

“As a result of the spinoffs we are now a leaner and better focused corporation, with the ability to concentrate on improving the results of our three leading franchises,” said Dun & Bradstreet Chairman and Chief Executive Volney Taylor, who had been a D&B executive vice president before the split.

Dun & Bradstreet’s shares rose only 3 percent in the two years preceding the split announcement, from its close on the first Friday in January 1994 of $61.12 to a close of $63 at the same point this January. Friday, the shares increased $1.25 to $59.

As part of the split, the new Dun & Bradstreet headquarters has been moved to Murray Hill, New Jersey, from Wilton, Connecticut.

The new Dun & Bradstreet Corp. consists of Dun & Bradstreet, which provides business-to-business credit information; Moody’s Investors Service, which rates corporate and public debt, and Reuben H. Donnelly, which publishes and markets Yellow Pages. The credit information business has emerged from a scandal in the late 1980s when it was accused of selling clients more credit reports than they needed. ACNielsen provides information on sales of consumer products by reading grocery store scanning machines and marketing the data to companies that sell groceries and other products.

Cognizant consists of IMS International, which supplies marketing information to the health-care industry; Nielsen Media Research, which tracks home television viewing; and the Gartner Group, a consulting firm that advises companies on what type of computers and equipment to buy.

Some of the stocks that moved substantially or traded heavily Friday.

NYSE

Boeing, down $3.50 at $91.87-1/2.

The next generation of 747 jumbo jets could cost as much as $7 billion to develop, The Wall Street Journal reported, quoting Ronald Woodard, president of Boeing’s commercial airplane group. That would be 40 percent more than the last specific amount acknowledged by the Seattlebased company.

NASDAQ

MCI, up $5.12-1/2 at $30.25.

The long-distance company confirmed news reports that it it is holding merger talks with British Telecommunications PLC. MCI said in a short statement that the huge global deal could be announced as early as Monday. British Telecom already owns 20 percent of MCI, whose remaining shares were said to be worth about $16 billion.

Inference, down $5.25 at $7.

The Novato, Calif.-based publishing software concern said it will report a third-quarter loss of between 9 cents to 12 cents a share instead of the 12-cent-a-share profit that had been expected by Wall Street.

AMEX

Viacom class B shares, up $2.62-1/2 at $35.25.

The entertainment conglomerate reported a huge jump in its third-quarter earnings, exceeding expectations on strong performances by MTV Networks and Paramount Studios and a big gain from the sale of its cable systems.