BIZWATCH : MARKETS.MARKET LOGIC: 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. fell 37.32 to 7,858.49 Monday after surrendering an early 55-point gain that put the blue-chip barometer within 50 points of the 8,000 mark. The Dow, up nearly 22 percent this year, first crossed 7,000 less than five months ago. The broad market ended mixed, with big-name technology shares leading the Nasdaq market to its third straight record close. MEMO LITTON GETS $300 MILLION WORTH OF CONTRACTS: A subsidiary of Woodland Hills-based Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. Inc. has been awarded two contracts worth a total of $300 million to provide communications systems and management services for the federal government, officials said Monday. The first is a 10-year, $100 million contract awarded by the U.S. Army Communications and Electronic Command for a communications system. The second - awarded by Defense Supply Services-Washington for the Office of the Secretary of Defense The Office of the Secretary of Defense (OSD) is part of the United States Department of Defense and includes the entire staff of the Secretary of Defense. It is the principal staff element of the Secretary of Defense in the exercise of policy development, planning, resource for Command, Control, Communications and Intelligence - calls for strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. and other services over five years and is worth $200 million. Litton Industries Inc. is a publicly traded developer of electronic, defense and information systems and designs combat ships for the U.S. Navy and allied nations. ?13- Daily News ACACIA BOOSTS OWNERSHIP OF SOUNDVIEW: Pasadena-based Acacia Research Corp. has boosted its ownership of Soundview Technologies Inc. from 16.4 percent to 51.4 percent through a $4.2 million investment of stock, cash and debt.Soundview Technologies owns technology related to the V-chip, which allows parents to block TV programs that are inappropriate for children. ?13- Daily News EDWARDS TO BUILD MULTIPLEX WITH IMAX IMAX Noun a film projection process that produces an image ten times larger than standard IN WEST L.A.: Edwards Theaters will build a 22-screen theater complex with a nine-story Imax theater at the Howard Hughes Center in West Los Angeles
RKO Randy Keith Orton (wrestling) RKO Relativistic Klystron Oscillator RKO Rural King Ohio (farm supply store) studio. Edwards has also agreed to build Imax theaters in nine other locations by 2002. Stock of Imax was up $2 to $26.75. ?13- Daily News GOTTSCHALKS BUYING HARRIS: Fresno-based Gottschalks Inc. agreed to buy nine Harris department stores for about $38.1 million in stock and debt from closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. El Corte Ingles S.A., Spain's largest retailer. Gottschalks, which operates 35 department stores in four states on the West Coast, said it will acquire the Harris Co., a chain of nine stores in Southern California. Harris is wholly owned by El Corte Ingles. The Harris stores will be refurbished and converted to Gottschalks stores, using a $2 million loan from El Corte, and will carry an expanded line of merchandise, Gottschalks said. ?13- Bloomberg News UNIVERSAL MUSIC BUYS LIBERACE CATALOG: Seagram Co.'s Universal Music Group has acquired the AVI (Audio Video Interleaved) A Windows multimedia video format from Microsoft. It interleaves standard waveform audio and digital video frames (bitmaps) to provide reduced animation at 15 fps at 160x120x8 resolution. Audio is 11,025Hz, 8-bit samples. Entertainment Group's catalog of recorded music performances by artists such as David Benoit and Liberace for an undisclosed price.The acquisition broadens Seagram's holdings of gospel and blues as it attempts to build its music business by adding new artists, record labels and catalogs. Universal plans to re-release several titles, including ``The Best of Slim Harpo'' and ``Hip-Shakin' - The Best of Excello Blues'' through its Hip-O Records label. CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS Bat bucks Box office returns for the first three installments of the ``Batman'' series, in millions of dollars Knight-Ridder Tribune |
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