BIZWATCH : MARKETS.MARKET LOGIC: Blue-chip stocks halted a four-session losing streak Wednesday as depressed prices generated some buying interest, but the smaller-company sector stole the show with a record finish. 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. rose 5.11 to 7,787.33. MEMO MARKETS CLOSED: U.S. financial markets, government offices and banks will be closed Monday in observance of Labor Day Labor Day, holiday celebrated in the United States and Canada on the first Monday in September to honor the laborer. It was inaugurated by the Knights of Labor in 1882 and made a national holiday by the U.S. Congress in 1894. . Foreign financial markets will be open. WELLPOINT TO MOVE EMPLOYEES TO T.O.: Woodland Hills-based WellPoint Health Networks Inc. said it will move about 350 corporate employees to its Thousand Oaks Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. office by mid-1998. WellPoint, which owns Blue Cross of California, is currently based in Blue Cross' 14-floor Warner Center building. WellPoint is moving the employees to make room for anticipated Blue Cross employee growth. The move will not affect an ongoing dispute between Blue Cross, four other Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. city HMOs, and the city over gross receipt taxes, the company said. ?13- Daily News JERRY'S DELI HIRES INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. FIRM: Studio City-based Jerry's Famous Deli Wikipedia is not the place for advertisement or self-advertising. Jerry's Famous Deli is a Los Angeles-based delicatessen famous for its huge menu, which boasts over 700 deli and traditional food items. Inc. said it has hired Beverly Hills-based investor relations firm Perry & Co. to organize an investor road show in anticipation of further expansion of the 10-restaurant chain. Perry & Co. will introduce senior Jerry's management to professional investors in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Chicago, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Boston, Atlanta and South Florida over the coming months, the company said. ?13- Daily News OROAMERICA BUYS RAVEL INVENTORY: Burbank-based OroAmerica Inc., a manufacturer and distributor of gold jewelry products, said Wednesday that it has bought the entire inventory of Clearwater, Fla.-based jewelers Ravel Inc. OroAmerica did not disclose the purchase price. ?13- Daily News BOSS FILM CLOSES: Boss Film Studios, a respected special effects special effects, in motion pictures, cinematographic techniques that create illusions in the audience's minds as well as the illusions created using these techniques. studio in Marina del Rey, has closed because of stiff competition and higher salaries in the industry. Boss could not afford to stay in business, said founder Richard Edlund, a four-time Academy Award-winning special effects supervisor best known for his work on the ``Star Wars'' trilogy. Part of the problem stemmed from increased competition from larger shops, including Industrial Light & Magic in San Rafael and Digital Domain in Los Angeles as well as smaller effects houses, Edlund said. ?13- Associated Press EARNINGS Special Devices Inc. Newhall-based pyrotechnic device manufacturer Aug. 3rd Qtr. 1997 1996 Sales $36.9 million $25.6 million Net Income $2.8 million $2.1 million Net Per Share 36 cents 28 cents CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS Who Germany helps Distribution of German foreign aid, by region, 1994-95 Knight-Ridder Tribune Graphics Network |
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