IN BRIEF.VALLEY INDEX TUMBLES: The Daily News/Bloomberg Index fell 4.12 to 107.46, with the biggest losses posted by Calabasas' On Assignment Inc. and Sylmar's MiniMed Inc. On Assignment fell $4.75 to $28. MiniMed fell $3.875 to $60.125. - Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. News T-BILL RATES LOW: Interest rates on short-term Treasury securities fell in Monday's auction to the lowest level in more than four years. The Treasury Department sold $8 billion in three-month bills at an average discount rate of 4.155 percent, down from 4.430 percent last week. An additional $8 billion was sold in six-month bills at an average rate of 4.185 percent, down from 4.455 percent. The three-month rate was the lowest since June 6, 1994, when the bills sold for 4.15 percent. The six-month rate was the lowest since April 11, 1994, when the average was 4.03 percent. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. AVID PLUNGE The term Plunge has multiple meanings:
Avid Technology, Inc NASDAQ: AVID is an American company specializing in video and audio production technology; specifically, digital non-linear media editing (NLE) Inc. fell 37 percent after the maker of digital-editing software said third-quarter revenue will be lower than expected because of product changes and order delays. Avid, whose systems are widely used for movies and TV programs, tumbled $9.3125 to $13.6925. After the market closed Friday, Avid said it expects revenue of $112 million to $114 million, down from $116.5 million in the year-earlier quarter. - Daily News FHS FHS - Filesystem Hierarchy Standard WITHDRAWS: Woodland Hills-based Foundation Health Systems Inc. said it's withdrawing from the Medicare health-maintenance organization business in 18 more counties because reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. rates don't cover its costs in those locations. The provider of managed health-care services, which has more than 6 million people covered under its health plans, now has cut service to 22,700 Medicare customers, or about 7 percent of its total Medicare customers. - Bloomberg News |
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