BIZWATCH : MARKETS.MARKET LOGIC: High-tech, drug and energy issues rose briskly as 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. gained 78.50 points to close at 7,079.39, beating the previous record of 7,067.46 set Feb. 18. The New York Stock Exchange composite index New York Stock Exchange Composite Index A composite index made up of all the stocks listed on the New York Stock Exchange and weighted according to the market value (stock price multiplied by shares outstanding) of each security. rose 3.87 to 427.70, besting the Feb. 18 record of 427.07. MEMO DIANA MOVES TO NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : Stock of Calabasas-based Diana Corp. stock fell 10 percent, declining 50 cents to $4.50, Monday in its first day on the Nasdaq bulletin board, while the exchange studies the company's performance. Diana was delisted from the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. after it sold off its main business of food distribution to focus on telecommunications and could not meet NYSE NYSE See: New York Stock Exchange listing requirements.Diana shares reached a record of $114.27 on May 24 while trading under the DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. symbol. Its stock symbol is now DNAK DNAK Den Norske Atlanterhavskomité (Norway) . ACT NETWORKS GETS $1.1 MILLION DEAL: The Camarillo company signed a deal with Comsat Brasil Ltda. to buy its NetPerformer products for building integrated satellite-based networks. Act Networks makes frame relay wide-area network access products that support voice, data and integrated network applications. AGOURA HILLS COMPANY FILES FOR BANKRUPTCY: Interscience Computer Corp., a laser printer service firm, filed for Chapter 11 bankruptcy, the company announced Monday. The company's cash flow has been tight due to four acquisitions made in the past 12 months. Frank LaChapelle, Interscience's chief executive, said the filing will enable the firm to reorganize its operations and improve cash flow. In addition, the bankruptcy will help resolve several pending lawsuits. ITT GILFILLAN GETS $10 MILLION CONTRACT: The Van Nuys unit of ITT Defense & Electronics will provide the Brazilian Air Force The Brazilian Air Force (Portuguese: Força Aérea Brasileira, FAB) is the aerial warfare branch of the Brazilian armed forces and one of the three national uniformed services. with several PAR-2000 precision approach radar Precision approach radar (PAR) is a type of radar guidance system designed to provide lateral and vertical guidance to an aircraft pilot for landing up to the missed approach point. systems. ITT Gilfillan makes air traffic control and air and battlefield defense radar systems. ITT Defense & Electronics supplies commercial and defense electronic systems to various industries. LITTON COMPLETES PURCHASE: The Woodland Hills-based industry has completed the previously announced acquisition of SAI Technology from Science Applications International Corp. for an undisclosed price. SAIT, of La Jolla, has about 410 employees and specializes in mobile computing equipment and systems that can operate in rugged conditions, with annual sales of approximately $90 million. Litton already has about 6,000 employees working in the information systems sector. EARNINGS Amwest Insurance Group Inc. Woodland Hills-based insurance holding company Dec. 4th Qtr. 1996 1995 Sales $23.7 million $22.3 million Net Income (Loss) ($2.65 million) ($57,000) Net Per Share (79 cents) (2 cents) Year End 1996 1995 Sales $97.3 million $94.2 million Net Income (Loss) ($2.69 million) $3.7 million Net Per Share (80 cents) $1.09 Results for the quarter and year ended Dec. 31, 1995 have been restated to include the operations of Condor Services Inc., which was acquired in March 1996. CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS SELLING WEEDS U.S. cigarette exports, then and now, in billions Knight-Ridder Tribune Graphics Network |
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