BIZWATCH : MARKETS.MARKET LOGIC: A sell-off in technology shares, triggered by an announcement of delays in the rollout of Microsoft's Windows 98 software, undermined a rising stock market Monday as sentiment turned bearish in the final hour of trading. 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 21.83 to 7,721.14. MEMO T-BILL RATES DECLINE: Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $11.3 billion in three-month bills at an average discount rate of 4.91 percent, down from 5.01 percent last week. An additional $11 billion was sold in six-month bills at an average rate of 5.08 percent, down from 5.14 percent. ?13Associated Press TEKELEC STOCK JUMPS: Stock of Calabasas-based Tekelec jumped $5.47 to $36.53 after the telecommunications equipment company was reiterated as a ``strong buy'' by analyst Brian Modoff at BT Alex. Brown & Sons. Tekelec stock hit an all-time high of $38.50 on Sept. 2. PLANET HOLLYWOOD MOVES TO NYSE NYSE See: New York Stock Exchange : Planet Hollywood International Inc. plans to move trading of its common stock to the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. from the Nasdaq in the next 20 days to give itself greater visibility in the investor marketplace, particularly within the international community. The restaurant chain went public in April 1996. 20TH CENTURY EXPANDS THROUGHOUT WEST: Moving into a market representing 6 million vehicles, Woodland Hills-based insurance holding company 20th Century Industries said Monday it is expanding its auto insurance business into Nevada, Oregon and Washington. The company, the country's eighth-largest publicly held auto insurer, recently expanded into neighboring Arizona. NEWCOM NEWCOM Network of Excellence in Wireless Communications (Europe) TO GO PUBLIC TODAY: NewCom Inc., a Westlake Village-based maker of computer peripherals, is expected to begin trading today on Nasdaq. The company is offering 1.7 million common shares and 1.7 million warrants (priced between $8 to $10 collectively) under the ticker symbols of NWCM NWCM National Watch and Clock Museum (Columbia, PA) and NWCMW respectively. TOYOTA SETTLES SIMI SIMI Sea Ice Mechanics Initiative SIMI Search for Intelligent Monkeys on the Internet SIMI Students Islamic Movement in India SIMI Society of Irish Motor Industry SIMI Smallholder Irrigation Markets Initiative BANKRUPTCY: Two subsidiaries of Toyota Motor Corp. have agreed to a nearly $4 million settlement of bankruptcy filed by a Simi Valley dealership in 1996. The agreement calls for the former Toyota of Simi Valley to pay $3.75 million to Toyota Motor Credit Corp. for the cost of cars and $155,000 to Toyota Motor Sales Inc. to cover the cost of parts, said company spokeswoman Nancy Hubbel. The agreement is expected to be approved by the United States Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. on Oct. 8. The dealership is now called Toyota Towne and is owned by DHC DHC Dihydrocodeine DHC District Heating and Cooling DHC Dark Horse Comics DHC Dynein Heavy Chain DHC DeHavilland Canada (aircraft) DHC Discovery Health Channel DHC Drop Head Coupe Corp. of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the same company that owns Toyota of Oxnard. IWERKS TO BUILD MUSEUM THEATER: Burbank-based Iwerks Entertainment has been selected to provide a 230-seat theater for the New Mexico Museum of Natural History Foundation in Albuquerque, N.M. The new theater, scheduled to open in 1999, will replace the existing 96-seat facility, installed by Iwerks in 1989. ?13Daily News CAPTION(S): 2 Charts Chart: (1--color) DOW INDUSTRIALS (2--color) BIZ FACTS Helping hands |
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