BIZWATCH : MARKETS.

MARKET LOGIC: The Dow Jones industrial average wiped out another chunk of its recent slide Wednesday. The Dow, which had slid nearly 700 points in one month before this week's rally, rose 92.71 to 6,679.87, bringing its three-session rebound to 288 points.

MEMO

BOEING APPOINTS ALBAUGH TO ROCKETDYNE: The Boeing Co. of Seattle has named Jim Albaugh, 46, to the presidency of its Rocketdyne Division in Canoga Park. He is responsible for directing the division's diverse high-technology activities, including the space shuttle main engine program and the space station electrical power system. Albaugh succeeds Paul Smith, who became the president of the United Space Alliance, a joint venture firm of Lockheed Martin and Boeing Co.

SIMI VALLEY BANK TO EXPAND, CHANGE NAME: The four-branch bank is changing its name to First Western Bank after 16 years as it expands into western Ventura County, officials said Wednesday. Simi Valley Bank President Tony Palmer said the new name reflects the bank's expanding area, which will include Fillmore once a new branch opens this summer. The name change still needs stockholder approval.

STAFF WON'T JOIN UNION: The transportation department of the Daily News of Los Angeles voted late Tuesday not to join the Teamsters Union Locals 848 and 986. The measure was defeated by a vote of 30-9, with three employees absent and one ballot voided.

STUDIOS SPLIT DISTRIBUTION RIGHTS: DreamWorks SKG and Paramount Pictures agreed to split the distribution rights on two major films they are co-producing - science-fiction thriller ``Deep Impact,'' starring Tea Leoni, and World War II drama ``Saving Private Ryan,'' starring Tom Hanks and directed by Steven Spielberg. The announcement about the films, both due to start filming shortly, comes amid industrywide concerns about sharply rising costs. DreamWorks will have the foreign rights on ``Saving Private Ryan'' and the domestic distribution for ``Deep Impact'' while Paramount has the remaining rights. Paramount struck a similar deal with 20th Century Fox for co-producing ``Titanic,'' due this summer.

EARNINGS

Dove Entertainment Inc.

Los Angeles-based publisher, TV producer and film distributor

Dec. 4th Qtr. 1996 1995

Sales $10.7 million $1.4 million

Net Income (Loss) ($4.2 million) ($565,000)

Earnings Per Share N/A N/A

Year End 1996 1995

Sales $26.8 million $11 million

Net Income (Loss) ($6.7 million) $91,000

Earnings Per Share ($1.31) 2 cents

Higher revenues for 1996 came from increased film and TV production. The net loss was due, in part, to lower than expected results in its audio and book operations - especially for publications featuring the trials of O.J. Simpson and the Menendez - plus increased overhead related to the firm's expansion. Dove also expects a loss for the first quarter of 1997 because liquidity problems delayed publishing of several new titles.

CAPTION(S):

Photo, 2 Charts

Photo: (Color) ALBAUGH

Chart: (1--Color) DOW INDUSTRIALS

(2--Color) BIZ FACTS

WHERE GASOLINE IS COSTLY

Most expensive cities for buying motor fuel, shown as average price per gallon of gasoline.

Knight-Ridder Tribune Graphics Network