BIZWATCH : MARKETS.

MARKET LOGIC: Technology stocks struggled higher Thursday, but blue-chip shares faltered, halting a three-day rally that had nearly halved a monthlong slide by the Dow Jones industrial average. The Dow fell 21.27 to 6,658.60 after giving back a 33-point gain that put the barometer of 30 big companies above 6,700 for the first time in three weeks.

MEMO

DISNEY FIRES 90 EMPLOYEES: Burbank-based Walt Disney Co. fired 90 of its 425 full-time workers at Disney Interactive in Glendale to refocus on its more profitable educational and entertainment CD-ROM products for children and make fewer games for teen-agers. An unspecified number of part-time workers also lost their jobs, a spokeswoman said. The cuts, which took effect Tuesday, come amid declining profit margins and increased competition in the CD-ROM business.

AMGEN EARNINGS INCREASE: Thousand Oaks-based Amgen Inc. reported first-quarter earnings of $180 million, or 65 cents a share, up 27 percent from earnings of $144 million, or 51 cents a share, in the 1996 quarter and 2 cents ahead of analysts' consensus estimate. Revenues rose 13.3 percent to $575.5 million, led by a 19 percent gain in sales of red-cell booster Epogen to $292 million. Amgen released the report after the stock market closed. Shares were up $1.75 to $58.75 as Morgan Stanley analyst Douglas Lind issued a ``strong buy'' recommendation.

TODD-AO SUES MERGER TARGET: Todd-AO Corp. has sued Kenneth Holland, the principal owner of Burbank-based International Video Conversions Inc., in Los Angeles Superior Court for alleged failure to honor a merger agreement. Todd-AO had announced in January that it was buying IVC, then said two weeks ago that the deal had fallen through. The suit seeks in excess of $1 million and unspecified punitive damages.

VPTI CANCELS STOCK SPLIT: Voice Powered Technology International, a maker of voice recognition consumer products based in Sherman Oaks, has canceled its proposed reverse stock split of the company's common shares and an April 25 shareholders meeting after being delisted from the Nasdaq Smallcap Market. It continues to trade on the OTC Bulletin Board.

SPA FAUCET WON'T BE BOUGHT: Chatsworth-based Spa Faucet has rescinded its previously announced agreement to be bought out by The Harmat Organization Inc. The companies did not disclose why the agreement was canceled.

EARNGINS

Rexhall Industries Inc.

Lancaster-based maker of motor homes

Dec. 4th Qtr. 1996 1995

Sales $13.7 million $14.6 million

Net Income (Loss) ($482,000) $454,000

Earnings Per Share (18 cents) 17 cents

Year End 1996 1995

Sales $65 million $60.7 million

Net Income (Loss) $1.3 million $2 million

Earnings Per Share 47 cents 74 cents

Sales rebates, workers' compensation and other costs led to a fourth quarter loss. In addition, the company's Indiana facility had high labor costs, product buybacks and discounting that hurt overall performance.

CAPTION(S):

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(2--Color) BIZ FACTS

FOOD COURTS

Of the U.S.'s 1,150 malls, 750 have large food courts

Knight-Ridder Tribune Graphics Network