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. slid more than 130 points Wednesday as earnings and inflation jitters jitters 'Butterflies' Psychology An episode of nervousness or anxiety that often precedes a public event; jitters is a type of performance anxiety which may affect actors in a stage production–stage fright or soloist musicians; it may respond to anxiolytics multiplied. The Dow fell 132.63 to 7,719.28, the biggest point drop since the blue-chip barometer plunged 247 points on Aug. 15. TEKELEC OFFICERS SELL 76,500 SHARES: Five officers of Calabasas-based communication electronics producer Tekelec have sold a total of 76,500 shares since Aug. 1 at prices between $60 and $65, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. filings with the Securities and Exchange Commission. The company's shares split, 2-for-1, late last month and were off $1.375to $35.875 on Wednesday. The stock hit a record high of $38.50 on Sept. 2. Its low close this year was $9.06 on March 20. MEMO LITTON COMPLETES FOR $596 MILLION CONTRACT: Tracor Inc., Science Applications International Corp. and Woodland Hills-based Litton Corp. will compete for $596 million of computer equipment and software orders from the U.S. Defense Department. The Defense Department said the companies will compete for a series of orders during the next two years for desktop and laptop computers, peripherals and software for the assistant secretary of defense for health affairs. ?13Bloomberg News HARVEY, SABAN WORK ON ``CASPER'' VIDEO: Harvey Entertainment Co. and Saban Entertainment will co-produce a live action, direct-to-video feature based on Harvey's Casper and Wendy The Witch characters, for release in fall 1998. Harvey, Saban and 20th Century Fox released their direct-to-video ``Casper, A Spirited Beginning'' on Tuesday. Harvey's stock was up 25 cents to a record $17 a share Wednesday, nearly triple its $6 a share price at the start of the year. ?13Daily News WARNER, TOSHIBA TO SPEND $30 MILLION: Burbank-based Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . and Toshiba America plan to spend $30 million in a marketing campaign to support digital versatile disc digital versatile disc or digital video disc (DVD), a small plastic disc used for the storage of digital data. The successor media to the compact disc (CD), a DVD can have as much as 26 times the storage capacity of a CD. players and software during the upcoming holiday season, starting in late October through the early part of 1998. ?13Daily News McBRIDE RESIGNS FROM LTC LTC abbr. lieutenant colonel : Oxnard-based LTC Properties has disclosed that William McBride III has resigned as president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. in order to assume the additional duties of chief executive officer of Assisted Living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. Concepts Inc. James J. Pieczynski, who is currently chief financial officer of LTC, has assumed the additional duties of president. EARNINGS California Amplifier Inc. A Camarillo-based maker of products for the reception of microwave signals used in the delivery of multichannel Using two or more paths for transmission or processing. It can refer to a variety of architectures including (1) multiple I/O channels between the CPU and peripheral devices, (2) multiple wires in a cable, (3) multiple "logical" channels within a single wire or fiber or (4) multiple television Aug. 2nd Qtr. 1997 1996 Sales $13.1 million $11.5 million Net Income (Loss) $204,000 ($209,000) Earnings Per Share 2 cents (2 cents) Revenue rose as a result of introducing Micro Pulse's antenna products and increased sales in wireless cable and satellite television products. ?13Daily News CAPTION(S): 2 Charts Chart: (1--color) DOW INDUSTRIALS (2--color) BIZ FACTS Out of work Knight-Ridder Tribune Graphics Network |
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