BIZWATCH : MARKETS.MARKET LOGIC: Stocks veered off the road to recovery Thursday as 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. extended a streak of unprecedented volatility, sliding 127 points for its fifth straight triple-digit swing. The Dow was down nearly 175 points just 15 minutes before the close, but quickly regained about 50 points to finish at 7,893.95, down 127.28. MEMO VAN NUYS COMPANY TO BUY UNPLUGGED: Intellicell Corp., a Van Nuys-based wholesale distributor of wireless communication products, has signed a letter of intent to buy Unplugged Communications in a stock swap A stock swap also known as a share swap or equity swap is a business takeover in which the acquiring company uses its own stock to pay for the acquired company. . Unplugged distributes wireless equipment in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Mexico. Intellicell closed up 62.5 cents on the news, at $8.37. ?13Daily News CALFED, WASHINGTON MUTUAL “WaMu” redirects here. For the Washington, DC radio station, see WAMU. Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. EYE AAMES: California Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks and Washington Mutual Inc. are the leading bidders for Los Angeles-based Aames Financial Corp. Aames, which sells mortgages to people with poor credit, has hired Donaldson, Lufkin & Jenrette to help in its search for bidders. Earlier this year, Seattle-based Washington Mutual acquired Chatsworth-based Great Western Financial Corp. Representatives of the companies could not be reached for comment. ?13Daily News COCONINO TO BUY WORLDWIDE: Woodland Hills-based holding company Worldwide Capital Management has agreed to be bought by marketing specialist Coconino SMA (1) See SMA connector. (2) (Shared Memory Architecture) See shared video memory. (3) (Software Maintenance Association) A membership organization that began in 1985 and ended in 1996. for 5 million shares of stock, worth $4.37 million. Worldwide said the deal would enable it to expand its line of mortgage products through Windsor-Sterling Financial Group. Worldwide also operates a travel agency with annual revenues of $1.1 million while Coconino's assets include air fresheners, oil and gas properties and disposal wells. ?13Daily News EMPLOYEES IN STATE GET 4 PERCENT RAISE: Budgeted pay raises for employees in California will rise 4 percent this year after a 3.8 percent rise in 1996, according to William M. Mercer Inc's survey of 247 employers. The increase is the first year-to-year gain since 1990 and brings pay raises back to the traditional floor, Mercer said. The firm also predicted that salary increases will stay around 4 percent for the foreseeable future. ?13Daily News LADD LADD Lifetime Average Daily Dose LADD Lacrimoauriculodentodigital (syndrome) LADD Light and Darkness Dragon (YuGiOh trading cards) LADD Low-Angle Drogue Delivery LADD Lowest Acceptable Daily Dose CHANGES JOBS AT MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. : David Ladd has resigned as executive vice president of MGM Pictures to produce feature films for MGM and United Artists Pictures. In coming months, Ladd will be executive producer for Aaron Spelling's feature film version of the 1970s television series ``Mod Squad,'' and a comedy titled ``Call Me a Cop.'' There was no word from MGM on a possible replacement for Ladd as executive vice president. ?13Daily News CAPTION(S): 2 Charts CHART: (1--color) BIZ FACTS The uninsured: Percent of each group that lacked health insurance, 1995. Knight-Ridder Tribune Graphics Network (2--color) DOW INDUSTRIALS |
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