BRIEFCASE 1.3 MILLION NMB SHARES OFFERED.Byline: - Staff and wire reports Los Angeles-based National Mercantile Bancorp, parent company of Mercantile National Bank and South Bay Bank, N.A., announced Friday that it had commenced a private offering of 1.3 million shares of common stock. ``Significant progress has been made with the integration of South Bay during the first nine months following the acquisition,'' said President and Chief Executive Officer Scott Montgomery. ``To fulfill the growth opportunities we see, the company believes that additional equity capital will permit the company and its banks to take advantage of such opportunity,'' he said. ``The financing will provide important working capital and equity to the company and its banks.'' Tenet, under fire, loses half its value SANTA BARBARA Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. - Shares of Tenet Healthcare Tenet Healthcare Corporation (THC) is an operating company that owns and operates 57 hospitals in the United States [1]. It is based in Dallas, Texas. Its stock ticker symbol on the New York Stock Exchange is NYSE: THC. Corp. lost nearly half their value Friday after the nation's second-largest hospital chain announced the departure of two top executives and said it will review its prices in response to the federal government's investigation of whether the company overbilled Medicare. The management shuffle was announced Thursday afternoon before a company conference call that stretched more than three hours. Displeased dis·please v. dis·pleased, dis·pleas·ing, dis·pleas·es v.tr. To cause annoyance or vexation to. v.intr. To cause annoyance or displeasure. analysts peppered Tenet officials with questions about investigations involving the company. Leery investors sent the Santa Barbara-based company's shares tumbling $13.05, or 46.7 percent, to close Friday at $14.90 on 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. . Lilly shares rise with 2 new drugs INDIANAPOLIS - Eli Lilly Eli Lilly can refer to:
The news sent Lilly shares up $3.28, or 5.6 percent, to close at $62.24 on the New York Stock Exchange. The company said the U.S. Food and Drug Administration recently conducted a preapproval inspection of the bulk site where Forteo, its osteoporosis drug, is manufactured. The FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. found there were no longer any manufacturing-related barriers to approval, Lilly said. UPS raises rates for all shipping ATLANTA - United Parcel Service United Parcel Service, Inc. (NYSE: UPS), commonly referred to as UPS, is the world's largest package delivery company, delivering more than 15 million packages[1] a day to 6.1 million customers in over 200 countries and territories around the world. Inc., the world's largest package hauler, Friday announced price increases in its shipping rates, effective Jan. 6. The Atlanta-based company said it will raise the price for ground shipments to businesses by 3.9 percent. The cost of Next Day Air service will go up 3.2 percent, while the price of UPS Worldwide Express deliveries will increase 2.9 percent. The surcharge for residential deliveries will inch up 5 cents to $1.15. UPS said its fuel surcharge, an index-based surcharge that is adjusted monthly, will remain at 1.25 percent for November and December. El Paso El Paso (ĕl pă`sō), city (1990 pop. 515,342), seat of El Paso co., extreme W Tex., on the Rio Grande opposite Juárez, Mex.; inc. 1873. getting out of energy biz HOUSTON - El Paso Corp. said Friday it is getting out of the energy trading business and reported a $69 million loss for the third quarter. Houston-based El Paso cited the ``substantially diminished business opportunities'' and higher capital costs of energy trading. The move comes as the energy trading sector continues to lose consumer and investor confidence after revelations last year about questionable accounting and trading activities at one-time energy giant Enron Corp. CenterPoint gets $1.3 billion loan HOUSTON - CenterPoint Energy CenterPoint Energy (NYSE: CNP) is an electric and natural gas utility serving several markets in the U.S. states of Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. Inc. announced Friday it has secured a $1.3 billion loan from Berkshire Hathaway Berkshire Hathaway (NYSE: BRKA, NYSE: BRKB) is a conglomerate holding company headquartered in Omaha, Nebraska, U.S., that oversees and manages a number of subsidiary companies. Inc. and Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. to help with refinancing related to its electric utility subsidiary. The financing will be used to repay all amounts outstanding under the electric utility's existing $850 million bank credit line from last month, as well as $500 million of debt. A call seeking comment from Berkshire Hathaway officials Friday was not immediately returned. |
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