IN BRIEF.VALLEY INDEX CLIMBS: Shares of most companies in the Daily News Index were higher Friday, led by Superior National Insurance Inc. of Calabasas and Saticoy's Seminis Inc. Superior National jumped $1.3125 to $4.75, a 38.2 percent increase. Seminis jumped 11.1 percent to $5.9375, an increase of 59.375 cents. - Daily News MELBOURNE SERVICE: United Airlines will begin daily nonstop HP's brand name for its fault-tolerant servers, which range in size from four CPUs to 4,000 CPUs. The NonStop line was created by Tandem Computers, which was acquired by Compaq, which later became part of HP. service today between Los Angeles International Airport “LAX” redirects here. For other uses, see LAX (disambiguation). “KLAX” redirects here. For other uses, see KLAX (disambiguation). Los Angeles International Airport (IATA: LAX, ICAO: KLAX, FAA LID: LAX and Melbourne, Australia, becoming the only airline to offer daily nonstop service between the two cities. The new flight is in addition to United's existing nonstop service from LAX to both Sydney, Australia, and Auckland, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , and will replace the air line's one-stop service between LAX and Melbourne, via Auckland. - Daily News FUNDS RAISED: Westlake Village-based Dental/Medical Diagnostic Systems Inc. has raised $2 million in a private round of financing through placement of 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. and warrants to purchase common stock. The preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. carry a 4 percent annual dividend and may be exchanged for common shares while the warrants carry the option to purchase 40,000 shares of common stock at an exercise price of $2.75. The stock gained 3 cents to $2.625 on Friday. - Daily News VALENCIA MERGER: Santa Clarita-based Valencia Bank & Trust announced Friday it has completed its $6.1 million merger with First Valley National Bank. Under the deal, each share of First Valley stock was exchanged for 0.816 shares of Valencia National common stock. The combined bank has 5 branches and over $200 million in assets. - Daily News NEW MANAGERS: Newbury Park-based software firm Pacific Softworks is rearranging its management structure to better handle competition from such big names as Red Hat, the company said. As part of the realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. , the company's board of directors appointed Chief Financial Officer William Sliney as its new president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . - Daily News |
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