BUSINESS NOTES VALCOM INC. SIGNS PACT FOR FINANCING.Byline: - From staff and wire reports VALENCIA - Soundstage and production house ValCom Inc. has entered a strategic financing agreement with Laurus Family of Funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". for $750,000. That figure could grow to $22.75 million over a four-year period, said ValCom President and Chief Executive Vince Vellardita. ValCom recently restructured its operations and acquired Half Day Video Inc. ValCom's board has also approved a stock buyback Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. plan of up to 1 million shares of its common stock from open and private markets. Capstone joining Russell 3000 list CHATSWORTH - Microturbine power systems manufacturer Capstone Turbine Corp. has been added to the preliminary list of companies joining the Russell 3000 Index The Russell 3000 Index is a stock market index of US stocks. The ticker is "RUA" or similar. See Russell Indexes page for main discussion. See also the iShares Russell 3000. . The index, one of 21 U.S. equity indexes developed by Frank Russell Co., is to be rebalanced at the end of June. Final index membership will go into effect July 1 and remain in place for one year. Russell adjusts its indexes annually in order to accurately rank the 3,000 largest companies in the U.S. stock market by market capitalization. China Southwest, Hawker sign deal SUN VALLEY - Hawker Pacific Aerospace Hawker Pacific Aerospace is a multinational aircraft parts and repair company based in the United States, and the United Kingdom. The company is a descendant of the Hawker Siddeley Company. It was formed in 1980 within British Aerospace, and merged with Dunlop Aviation Inc. in 1994. has signed a landing gear service contract with China Southwest Airlines China Southwest Airlines (中国西南航空公司) was an airline based in the People's Republic of China. It merged into Air China in 2002. The airline was head quartered at Chengdu, Sichuan. , the company announced Tuesday. The $4.3 million contract is for eight years, during which period Hawker Pacific will provide landing gear overhaul services for CSW's Boeing 757 fleet of 13 aircraft. Hart directors OK five-for-one split WOODLAND HILLS - Hart Industries Inc. announced Tuesday that its board of directors approved a five-for-one stock split. The record date of the forward split is June 20. Shareholders of record as of the close of business on that date will receive four additional shares of the company's common stock for every one share owned. Hart Industries has about 6 million shares currently issued and outstanding, with additional convertible securities and stock options, which will be adjusted as appropriate to reflect the forward stock split. The split is to be effected in the form of a stock dividend, but will be accounted for as a stock split. Northrop finishes Litton acquisition CENTURY CITY - Northrop Grumman Corp. announced Tuesday it has completed the final step in its acquisition of Woodland Hills-based Litton Industries Inc. by converting Litton's preferred stock into the right to receive $35 per share in cash. Letters and other documents necessary for the exchange of stock will be mailed to Litton shareholders. Kraft Foods IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. raised $8.7 billion NEW YORK - Philip Morris Cos. raised $8.7 billion Tuesday from the sale of stock in its Kraft Foods division in the second biggest U.S. initial public offering ever. Underwriters on Tuesday set the price for Kraft shares at $31 per share, according to 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. , which is underwriting the sale with Citigroup Inc.'s Salomon Smith Barney. The IPO values Kraft at about $53.8 billion. Trading in Kraft shares is expected to begin today 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. under the symbol KFT KFT Korlátolt Felelõsségû Társaság (Hungarian: limited liability corporation) KFT Kraft Foods International (stock symbol) KFT Kilo-Feet KFT Kung Fu Tzu (Confucius) . The Kraft IPO ranks second behind last year's $10 billion-plus offering of stock in AT&T Wireless. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion