BIZWATCH : COMING MONDAY DAILY NEWS BLOOMBERG INDEX.EYE ON THE VALLEY: First there was the Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. , Next came the Standard & Poor's 500, followed by the Nasdaq composite index Nasdaq Composite Index An index that indicates price movements of securities in the over-the-counter market. It includes all domestic common stocks in the Nasdaq System (approximately 5,000 stocks) and is weighted according to the market value of each listed . They became the three most popularly followed measures of the nation's stock markets. But there was never a way of measuring how well the Valley's economy was doing compared to the nation at large. Until Monday, that is. Until the Daily News/Bloomberg Index. MARKETS MARKET LOGIC: A weak profit forecast by Union Carbide Union Carbide Corporation (Union Carbide) is one of the oldest chemical and polymers companies in the United States, and currently has more than 3,800 employees. held back the Dow Jones industrial average, but most stock measures rose Friday as interest rates continued a weeklong drop in the bond market. The Dow was off 37 points with just a half-hour left of trading, but closed just 5.45 lower at 7,917.27. MEMO MRV MRV minute respiratory volume. SELLS SHARES; PRICE HITS ALL-TIME HIGH: Chatsworth-based MRV Communications  OverviewMRV NASDAQ: MRVC is a company that designs, manufactures, sells, distributes, integrates and supports communication equipment and services, and optical components. Inc. on Friday sold 2.9 million shares of its common stock for $35.75 a share. Proceeds will be used to expand product marketing, for research and development, and to buy new equipment. The company's stock closed Friday at 37-5/8, up 1-3/8, its all-time high. ?13- Daily News UNEMPLOYMENT IN COUNTY DROPS: Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County's seasonally adjusted Seasonally adjusted Mathematically adjusted by moderating a macroeconomic indicator (e.g., oil prices/imports) so that relative comparisons can be drawn from month to month all year. jobless rate in August was 6.6 percent, down from 6.7 percent in July and 8.1 percent in August 1996, the state Employment Development Department reported Friday. Statewide, the rate for August was 6.2 percent, same as July, but down from 7.1 percent a year earlier. It was the 22nd consecutive month of record-high employment in California. ?13- City News Service FILM PRODUCTION APPROACHES RECORD: The head of the California Film Commission said Friday the state appears to be on its way to another record-setting production year. Permits issued on state-owned property for July and August jumped 16.5 percent over the same two months a year ago. Days of filming jumped 25.8 percent during the summer months, suggesting more stepped-up activity by local filmmakers and independents. ?13- City News Service PRUDENTIAL MOVES EMPLOYEES DOWNTOWN: As previously announced, Prudential HealthCare recently moved 400 employees from its Woodland Hills office to staff a new National Service Center in downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or . The center, housed in a building owned by Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Financial Corp., has 1,000 employees so far - the other 600 workers are new hires. Prudential expects to add another 400 mainly new employees to the center by mid-1998. The move is part of a strategy by Prudential to consolidate its member services, billing, eligibility and claims functions into four national service centers. ?13- Daily News ELECTRO RENT WANTS MORE SHARES: At its Oct. 9 shareholders meeting, Electro Rent Corp. of Van Nuys will seek shareholder approval to raise the number of authorized common shares from 20 million to 40 million. The firm, which rents and leases electronic test equipment, microprocessor development systems and computer terminals, wants to have enough shares to allow it to declare stock dividends and stock splits, for the exercise of options, and to make acquisitions. ?13- Daily News CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS A shot in the arm Percent of health insurance plans that cover childhood immunizations by type: Knight-Ridder Tribune graphic services |
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