IN BRIEF.VALLEY INDEX RISES: Stocks in the Daily News/Bloomberg Index rose 44 cents to 121.74, led by Calabasas-based Tekelec and Zenith zenith, in astronomy, the point in the sky directly overhead; more precisely, it is the point at which the celestial sphere is intersected by an upward extension of a plumb line from the observer's location. National Insurance of Woodland Hills. Tekelec rose 1 15/16 to 32 7/16. Zenith rose 1-1/2 to 27-1/4. ?13- Bloomberg News COUNTRYWIDE coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. WORRIES: Shares of Calabasas-based Countrywide Credit, which surged 50 percent in 1997, fell 75 cents to 42-1/8 on worries that declining interest rates are likely to hurt earnings. Countrywide, the nation's largest independent mortgage lender, receives as much as 60 percent of its revenue from servicing loans. ?13- Daily News CALFED DELAYS 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. : California Federal Bank's initial public offering of stock has been delayed as thrift regulators review the plan, CalFed officials said. The nation's fourth-largest thrift, which is 80 percent owned by financier Ronald Perelman For the actor, see . Ronald Owen Perelman (born January 1, 1943) is an American billionaire investor who made his fortune buying beleaguered corporations and re-selling them later for enormous profits. , no longer expects to complete the offering by February, as originally scheduled. |
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