BIZWATCH : COMING UP.Wanted: The Valley's best stock players Feelin' lucky? Then here's your chance to pit your skills against others in a stock-picking contest sponsored by the Daily News. You don't have to be an investment expert to join (in fact, professionals in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry are ineligible). As long as you know the basics of stock market investing, we want to hear from you. Contestants will be given a fictitious $100,000 each to invest in up to 10 companies listed on the major U.S. exchanges.Contestants will be allowed to readjust re·ad·just tr.v. re·ad·just·ed, re·ad·just·ing, re·ad·justs To adjust or arrange again. re their portfolios weekly. Final results will be tallied after six months with the winners appropriately lauded for their market prowess. Their performance will also be compared with a portfolio of stocks chosen by the Business section's mascot, Mark T. Maker, just to make it more fun. Interested? Write to Deborah Adamson, Daily News Stock Picking Contest, P.O. Box 4200, Woodland Hills, CA 91365-4200. Or fax her at (818) 713-0058. Be sure to include your name, address, phone number, age, occupation, a brief summary of your investment experience and a list of stocks you own. Submissions must be received by July 30. MARKETS MARKET LOGIC: 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. roared back above 8,000 Tuesday as Federal Reserve Chairman Alan Greenspan Alan Greenspan Dr. Greenspan is Chairman of the Board of Governors of the Federal Reserve System. Dr. Greenspan also serves as Chairman of the Federal Open Market Committee (FOMC), the Fed's principal monetary policymaking body. delivered a midyear report to Congress without firing any warning shots The firing of shots or delivery of ordnance by personnel or weapons systems in the vicinity of a person, vessel, or aircraft as a signal to immediately cease activity. Warning shots are one measure to convince a potentially hostile force to withdraw or cease its threatening actions. at the markets. The Dow rose 154.93 to 8,061.65, erasing the remainder of Friday's 130-point slide and beating the July 16 record close of 8,038.88. MEMO GENERAL DYNAMICS General Dynamics Corporation (NYSE: GD) is a defense conglomerate formed by mergers and divestitures, and as of 2006 it is the sixth largest defense contractor in the world[1]. The company has changed markedly in the post-Cold War era of defense consolidation. DENIES LITTON BID: General Dynamics Corp., attempting to put to rest persistent speculation, said it's not in talks to purchase any part of Woodland Hills-based Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. Inc. In a statement, General Dynamics said it wants to end ``unprecedented publicity'' and ``two weeks of press speculation that a deal with Litton was imminent.'' ?13- Bloomberg News ACT NETWORKS WANTS TO BUY SOURCECOM: ACT Networks Inc, a Camarillo-based manufacturer of computer network products, has offered $8 million to purchase Westlake Village-based SourceCom Inc. SourceCom has developed a device that lets computer chips better route information within a data network. The company filed for Chapter 11 bankruptcy protection last week, with $10.5 million in debts. ?13- Daily News J.H. SNYDER COMPLETES PURCHASE: Los Angeles-based commercial real estate developer J.H. Snyder Co. has completed purchase of the former Coast Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. headquarters in Granada Hills. Sources familiar with the deal say J.H. Snyder paid about $10 million for the 16-acre site, where it is developing a 200,000-square-foot shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into . CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS Water bills Average annual costs for water in a 1- to 4-bedroom accommodation in selected major cities Knight-Rideer Tribune Graphics Network |
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