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 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 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 The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. 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 See VOB and DVD. : Universal Studios has agreed to release movies in the 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. format beginning in November, joining Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . and Sony Corp. in backing the format. The first titles will be ``Beethoven,'' ``The Shadow,'' ``The Paper'' and ``The Land Before Time.'' DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. , 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 Africa (ăf`rĭkə), second largest continent (1997 est. pop. 743,000,000), c.11,677,240 sq mi (30,244,050 sq km) including adjacent islands. Broad to the north (c.4,600 mi/7,400 km wide), Africa straddles the equator and stretches c. , 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. The process of identifying an individual's blood group by serologic testing of a sample of blood. Also called blood typing. 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 publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. that develops and markets kits used in blood and drug tests. ?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 Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. . 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 |
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