BIZWATCH : MEMO.MARKET LOGIC: Personal computer stocks rallied Friday and some market measures set new highs as interest rates fell to the lowest level all year on more signs that inflationary pressures have ebbed. The Dow Jones industrial average rose 35.06 to 7,921.82 after retreating from a 68-point gain that had put the blue-chip barometer within 45 points of the 8,000-mark. The Dow gained 26.01 for the week. MONEY CENTER'S SHARES JUMP 8.5 PERCENT: Shares of Woodland Hills-based PacificAmerica Money Center rose 8.5 percent Friday, gaining $3 to $38 as the company declared a two-for-one stock split and issued a bullish forecast. ``We believe that, as loan origination volume continues to increase on a monthly basis, the company will continue to report earnings growth over the next year,'' said Joel Schultz, president. ``The split-up in the company's shares is intended to provide increased market access to all stockholders as the company's growth continues.'' Loan originations for June reached a new record of approximately $71 million. ?13- Daily News UNIVERSAL JOINS DVD FORMAT: Universal Studios has agreed to release movies in the digital versatile disc format beginning in November, joining Warner Bros. and Sony Corp. in backing the format. The first titles will be ``Beethoven,'' ``The Shadow,'' ``The Paper'' and ``The Land Before Time.'' DVD, which offers video and audio equivalent to that of laser discs along with massive amounts of background material, has yet to be endorsed by Walt Disney, Paramount and 20th Century Fox. ?13- Daily News DISNEY OPENS SOUTH AFRICA OFFICE: Walt Disney Co. has opened an office in Cape Town, South Africa, to represent its interests on the continent. The Burbank-based entertainment giant said Walt Disney Enterprises South Africa will be a platform to move into the rest of Africa, where it has had little exposure. The operation also will work to license Disney merchandise and control piracy of Disney products. ?13- Daily News BIOPOOL TO SELL IN JAPAN: Ventura-based Biopool International Inc. has received approval from the Japanese Ministry of Health to market in Japan four reagents used in blood grouping blood grouping n. and typing, officials said Thursday. The company already has 50 other products approved for sale in Japan. The line will be distributed in Japan by Cosmo Bio Co. Ltd., which has distributed other Biopool products in that country for seven years. Biopool International Inc. is a publicly traded company that develops and markets kits used in blood and drug tests. The process of identifying an individual's blood group by serologic testing of a sample of blood. Also called blood typing. ?13- Daily News INCOMNET SETTLES SUIT: Incomnet Inc., a Woodland Hills-based telecommunications and optical lens company, said it received court approval to settle a lawsuit against Sam D. Schwartz, the company's former president. Schwartz was accused of insider trading and ordered to repay $600,000 in cash and 1.05 million common shares for a total value of $4.25 million. ?13- Daily News LIVE ENTERTAINMENT PURCHASE COMPLETED: An investment group led by Richland Gordon & Co. has completed its previously announced $150 million buyout of producer-distributor Live Entertainment. Its stock traded for the last time on the Nasdaq on Thursday. ?13- Daily News MATTHEWS STUDIO GETS MORE CREDIT: Burbank-based Matthews Studio Equipment Group reached a preliminary agreement for an expanded five-year credit facility with Chase Manhattan Bank. The revised facility, expected to close within this month, will have a five-year term and will increase Matthews' borrowing potential from $17 million to $50 million. ?13- Daily News |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion