IN BRIEF.VALLEY INDEX RISES: The Daily News/Bloomberg Index rose 0.77 to 128.25, led by Guitar Center Inc. of Agoura Hills and Chatsworth's Natrol Inc. Guitar Center rose $2.25 to $23. Natrol rose $2.0625 to $11.3125. - Bloomberg News GOOD TIME: Time Warner Inc. said it will split its shares 2-for-1 after the stock rose 63 percent during the past year because of Chairman Gerald Levin's push to cut costs and boost revenue at the world's largest entertainment company. The new shares will be issued Dec. 15 to shareholders of record Dec. 1, increasing outstanding shares to about 1.2 billion. The announcement drove Time Warner stock up as much as 7.1 percent to a record $106.50. - Bloomberg News KTEL SUIT: K-Tel International is being sued by investors who accuse ac·cuse v. ac·cused, ac·cus·ing, ac·cus·es v.tr. 1. To charge with a shortcoming or error. 2. To charge formally with a wrongdoing. v.intr. company officials of talking up the stock while concealing a letter the Calabasas-based company got from Nasdaq in October informing the company that it does not meet 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. . Attorneys for the plaintiff said the music retailer had made several announcements about its efforts to market music over the Internet, causing the stock to surge from $6.875 to almost $40 a share in the first two weeks of November. When the Nasdaq letter was disclosed Nov. 17, the share price fell to $10. - Daily News DISNEY PROTEST: A dozen retirees of The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. picketed outside its Burbank headquarters to protest the reduction of health benefits for 4,000 former and current employees with 20 years of service. Disney, which is facing a possible class-action suit Noun 1. class-action suit - a lawsuit brought by a representative member of a large group of people on behalf of all members of the group class action on the issue, has said its contracts allow such reductions. One protester carried a sign with Mickey Mouse Mickey Mouse Famous character of Walt Disney's animated cartoons. He was introduced in Steamboat Willie (1928), the first animated cartoon with sound. Mickey was created by Disney, who also provided his high-pitched voice, and was usually drawn by the studio's head animator, crying with the words ``Mickey Mouse Cries Tears for the Golden Years Noun 1. golden years - the time of life after retirement from active work time of life - a period of time during which a person is normally in a particular life state .'' - Daily News |
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