IN BRIEF.VALLEY INDEX DROPS: The Daily News/Bloomberg Index fell 0.82 to 143.65, led by Amgen Inc. of Thousand Oaks Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. and Burbank's The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. Amgen fell 2-1/8 to 55 13/16. Disney fell 1 9/16 to 112. - Bloomberg News XYLAN xylan /xy·lan/ (zi´lan) any of a group of pentosans composed of xylose residues; major structural constituents of wood, straw, and bran. GAINS: Stock of Calabasas-based Xylan Corp. rose 1 7/16 to 30, its highest since January 1996, after it posted first-quarter earnings well above Wall Street forecasts. The issue, which hit a 1998 low of 14 on Jan. 26, was raised to ``strong buy'' from ``outperform'' by analyst George Kelly George Kelly may refer to:
- Daily News COUNTRYWIDE APPOINTMENT: Jeffrey M. Cunningham, group publisher of media company Forbes Inc., has been appointed to the board of directors of Calabasas-based Countrywide Credit Industries Inc. Cunningham is in charge of business operations for Forbes' media, conference, custom publishing, online and international divisions. Countrywide purchases, sells and services home loans. - Daily News REORGANIZATION PLAN A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. : Agoura Hills-based Interscience Computer Corp. announced Thursday that its reorganization plan has been confirmed by the 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. . The plan calls for cash payments of about $800,000 and issuance of 2.5 million new shares of common stock and cancellation of all outstanding preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The company anticipates that all distributions will be completed in the quarter ended June 30. - City News Service EARNINGS ACT Networks Inc. Camarillo-based maker of wide-area network products March 31 third quarter 1998 1997 Sales $13 million $13.7 million Net Income (Loss) $3.1 million ($1 million) Net Per Share 33 cents (11 cents) The quarter's income included a net gain from sale of the company's investment in NetSpeak Corp. Also, sales to the Asia Pacific region were soft, while some orders from the United States and Latin America slipped from the third quarter into the fourth quarter. |
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