BIZWATCH : MARKETS.

MARKET LOGIC: Investors dumped shares of Eastman Kodak, Philip Morris and IBM on Friday, pushing the Dow Jones industrial average lower. Broader stock measures were mixed, with blue-chip and other large-company shares posting modest gains.

MEMO

STATE UNEMPLOYMENT DROPS DRAMATICALLY: Helped by dry weather and a looming income tax filing deadline, California gained 59,000 jobs last month and posted its lowest unemployment rate since before the recession, state officials said Friday. The state's jobless rate fell to 6.5 percent in February, the lowest since October 1990, when the rate was 6.4 percent, the state Employment Development Department said.

The state still remains above the national rate, which was 5.3 percent for February. The county of Los Angeles' rate was 7.4 percent; Ventura County's was 6.2 percent.

AHMANSON ASKS FOR COURT HELP: The parent company of Home Savings of America asked a Delaware court to stop Washington Mutual Inc.'s proposed purchase of Chatsworth-based Great Western Financial Corp., a thrift that Ahmanson wants to buy. The country's biggest thrift made the request Friday in Delaware Chancery Court, where the company also is trying to force Great Western's board to drop their opposition to Ahmanson's $6.79 billion takeover bid. Ahmanson also asked Chancery Court to declare that Great Western's agreement to merge with Washington Mutual discriminates unlawfully against Ahmanson.

GAS STATION OWNERS UNHAPPY WITH MERGER: The trade group for independent gas station owners is seeking a state attorney general's inquiry into Arco's proposed lease of 260 Thrifty Oil gas stations, saying it will push up gas prices and hurt competition. The group contends that the proposed deal, announced March 3, spurred a broad surge in gas prices across Southern California earlier this month.

Arco, which hopes to convert most of the 260 Thrifty Oil stations, believes the deal will help consumers because both companies emphasize low prices, said company spokesman Scott Loll.

NEWHALL CLOSES ESCROW ON COMPLEX: The Newhall Land and Farming Company said escrow had closed on its 208-unit StoneCreek Apartment Complex in Valencia, contributing $18.3 million to revenues and $12.8 million to income during the first quarter. It said the complex, which is on McBean Parkway, is 98 percent leased. Stock of Valencia-based Newhall increased 25 cents to $17.25 on the New York Stock Exchange.

EARNINGS

Koo Koo Roo Inc.

Los Angeles-based restaurant operator

Dec. 4th Qtr. 1996 1995

Sales $12.28 million $6.75 million

Income(Loss) ($3.46 million) ($2.76 million)

Net Per Share(Loss) (22 cents) (19 cents)

Year End 1996 1995

Sales $39.8 million $20.9 million

Income(Loss) ($9.29 million) ($6.91 million)

Net Per Share (83 cents) (57 cents)

The eclectic company cited costs of expansion for its losses.

CAPTION(S):

2 Charts

Chart: (1--Color) DOW INDUSTRIALS

(2--Color) BIZ FACTS

WORKING WOMEN AROUND THE WORLD

Percent of women-owned businesses that are service industries, in selected countries or areas:

Knight-Ridder Tribune Graphics Network