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BIZWATCH : MARKETS.


MARKET LOGIC: The Dow Jones industrial average rose 22.75 to 7,312.15. Broader indicators were mostly positive, but the technology-heavy Nasdaq market fell 19.88, its worst drop since April 25. The Russell 2000 index of smaller companies edged lower, snapping its streak of record closes at seven.

MEMO

GW SHAREHOLDER MEETING GOES ON: H.F. Ahmanson & Co. has failed to stop Chatsworth-based Great Western Financial Corp. from holding a special shareholder meeting to vote on Washington Mutual Inc.'s bid for the thrift on the same day Great Western holds its annual meeting. Delaware Chancery Court Judge Jack B. Jacobs denied Ahmanson's request for a court order that would have postponed the June 13 special meeting for six weeks after the annual meeting. Ahmanson, which has made a hostile bid for Great Western, wants to elect a slate of three directors at the annual meeting with the goal of blocking Great Western's $6.6 billion buyout by Washington Mutual.

?13- Daily News

SATTEL SATTEL - Satellite Telemetry GLOBAL GETS NIGERIAN DEAL: Sattel Global Networks has announced the Nigerian police force will use its hardware for all its data, voice and fax transmissions. Staff at the Chatsworth-based satellite telecommunications manufacturer estimate that this new contract will bring it between $5 million and $10 million in new business revenues. The network, currently being installed, is used to help the country's 32 police stations communicate with each other.

?13- Daily News

SUPERIOR WINS FORD CONTRACT: Van Nuys-based Superior Industries International Inc. has been awarded an annual contract from Ford Motor Co. to supply aluminum road wheels for the F-150 pickup truck through the 1998 model year with an annual value of $5 million. The contract follows a recent multimillion-dollar contract from Ford to supply three aluminum road wheel styles for its 1998 Lincoln Navigator Sport Utility vehicle, including a chrome-plated version.

?13- Daily News

`LOST WORLD' GAME ON THE WAY: Calabasas-based THQ Inc. has signed an agreement with Universal Studios Consumer Products Group to develop, publish and distribute an action game based on ``The Lost World: Jurassic Park.''The game will be distributed in October for the Nintendo Game Boy platform.

?13- Daily News

INDENET RELOCATING: IndeNet Inc. will close its four-person Encino headquarters and relocate those operations to Colorado Springs, Colo. The company will also focus on specializing on business software products for the television industry.

Simi Valley-based aerospace company

April 2nd Qtr. 1997 1996

Sales $44.7 million $47.6 million

Net Income $34.4 million loss $4.9 million loss

Net Per Share $3.09 loss 52 cents loss

The current second-quarter loss was partially due to a charge of $22.1 million related to the 1995 purchase of Hughes LAN Systems Inc.

CAPTION(S):

2 Charts

Chart: (1--Color) DOW INDUSTRIALS

(2--Color) BIZ FACTS

WORKING FOR THE BIG THREE

U.S. and worldwide employment by company, 1996

Knight-Ridder Tribune Graphics Network
COPYRIGHT 1997 Daily News
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:BUSINESS
Publication:Daily News (Los Angeles, CA)
Geographic Code:1USA
Date:Jun 4, 1997
Words:480
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