IN BRIEF.VALLEY INDEX GAINS: The Daily News/Bloomberg Index rose 1.06 to 145.32, 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 Countrywide Credit Inc. of Calabasas. Amgen rose 1 9/16 to 59-5/8. Countrywide rose 1-1/2 to 48-3/8. - Bloomberg News STATION BREAK: Children's Broadcasting Corp. said Thursday it had agreed to sell two of its remaining three radio stations to Camarillo-based Salem Communications Corp. for $2.7 million. The stations being sold are KYCR KYCR Know Your Customer Rules in Minneapolis and KTEK in Houston. The company announced last June it planned to sell its stations, saying it was triggered by competition from Burbank-based Walt Disney Co. and its ABC Radio unit. - Associated Press XYLAN xylan /xy·lan/ (zi´lan) any of a group of pentosans composed of xylose residues; major structural constituents of wood, straw, and bran. GETS ORDERS: Calabasas-based Xylan Corp. said its two biggest customers have placed ``substantial'' orders for the computer-networking company's new switch product. International Business Machines and France's Alcatel Alsthom SA have ordered Xylan's OmniStack switch, a less-expensive version of the company's technology used to build large computer networks for corporations and other organizations. - Bloomberg News RIDE OFF: Studio City-based Cinema Ride is among 29 companies that have moved from the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. to other listings because they didn't meet Nasdaq's new listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. . Cinema Ride now trades on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , which has less stringent reporting requirements. The Nasdaq Stock Market expects to eventually banish 443 mostly small companies - representing more than 8 percent of its 5,452 listed firms - that don't meet tough new requirements for trading on the nation's second largest stock market. - Bloomberg News |
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