IN BRIEF.VALLEY INDEX GAINS: Shares of most companies in the Daily News Index were mostly higher Wednesday, led by MRV Communications  OverviewMRV NASDAQ: MRVC is a company that designs, manufactures, sells, distributes, integrates and supports communication equipment and services, and optical components. Inc. of Chatsworth, which jumped $4.375 to $36.375. - Daily News NEED TO FINANCE: Westlake Village-based Need2Buy.com, which links business buyers and sellers online, raised $2.2 million in financing from a group of investors including Eli Broad Eli Broad (born June 6, 1933) a native of Detroit, Michigan is a Jewish American billionaire who lives in Los Angeles, California. His last name is pronounced as rhyming with road. Broad is well known for his philanthropy and extensive art collection. of SunAmerica Corp. and Mitsubishi Corp. The company said it plans to use the windfall for marketing, expansion and development of its core business. - Daily News BIG BOOST: A $600,000 contract for equipment with a Malaysian laboratory boosted the stock of Calabasas-based Creative Computer Applications by 17.6 percent Wednesday. The company's share price ended the day at $2.50 per share, an increase of 37.5 cents a share. The company Wednesday announced an agreement with Pathology and Clinical Laboratory of Malaysia to deliver and install Creative's CyberLab II software. The company had fiscal 1999 sales of $8.9 million. - Daily News DEAL CLOSED: Calabasas-based Countrywide coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. Credit Industries Inc. completed its $425 million acquisition of Balboa Balboa, town (1990 pop. 2,751), Colón prov., in the former Panama Canal Zone, on the Gulf of Panama. The port for Panama City, Balboa was the administrative headquarters of the Panama Canal Zone. It was also the site of a U.S. navy base (closed 1999). Life and Casualty Group from Associates First Capital Corp. Balboa is one of the leading writers of credit-related insurance in the nation, specializing in creditor-placed auto and homeowners insurance. - Daily News KTEL DEAL: Shares of Calabasas-based K-tel International Inc. rose 18 percent Wednesday following its announcement of a deal to provide content for America Online's Spinner.com music service, including ``Wooly wool·y adj. & n. Variant of woolly. Adj. 1. wooly - having a fluffy character or appearance flocculent, woolly soft - yielding readily to pressure or weight 2. Bully,'' ``Tutti-Frutti'' and ``It's My Party.'' Shares of K-tel gained $1.1875 to $7.8175 after hitting $10.25 during the session, while AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. was up $3.25 to $76.125. - Daily News Earnings Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. Inc. Woodland hills-based defense and electronics firm Oct. 1st Qtr. 2000 1999 Sales $1.37 billion $1.21 billion Net Income $50 million $47.2 million Net Per Share $1.07 $1.01 The results met Wall Street expectations. |
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