IN BRIEF.VALLEY INDEX FALLS: Shares of most companies in the Daily News Index were lower Friday, led by Camarillo's Salem Communications Salem Communications (NASDAQ: SALM) is a media company specializing in religious and conservative talk radio which operates in the United States, with 99 U.S. commercial radio stations (pending acquisitions) that are primarily concentrated in the nation's biggest markets, Inc. and On Assignment Inc. of Agoura Hills. Salem Communications fell $1.25 to $23.375. On Assignment fell $2.125 to $27.25. - Daily News SOUR NOTE: Shares of musical instrument retailer Guitar Center Inc. fell nearly 12 percent Friday, a day after the company reported it lost $149,000, or 1 cent per diluted share, in its second quarter ended June 30. The Agoura Hills-based company's stock fell $1.3126 to close Friday at $9.75. The company said its recent purchase of the leading catalog and Internet retailer of musical instruments cut 11 cents of the pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma , per-share earnings. Decreased profit margins at the company's stores and waning demand for high-tech products also hurt Guitar Center's bottom line. As a result, analyst N. Richard Nelson Jr. of Stephens Inc. downgraded his recommendation on Guitar Center stock to ``neutral'' from ``buy,'' and George F. Sutton of Dain Rauscher Wessels changed his to ``buy'' from ``strong buy.'' - Daily News STEPPING DOWN: Jim Wiatt, co-chairman and co-chief executive officer of the powerful International Creative Management talent agency, has resigned, the company said Friday. ICM ICM Intercom ICM Integrated Crop Management ICM International Congress of Mathematicians ICM Information Classification and Management ICM Intelligent Contact Management (Cisco) ICM International Creative Management represents such stars as Julia Roberts, Mel Gibson Noun 1. Mel Gibson - Australian actor (born in the United States in 1956) Mel Columcille Gerard Gibson, Gibson U.S.A., United States, United States of America, US, USA, America, the States, U.S. and Sylvester Stallone, and golfer Tiger Woods  Editing of this page by unregistered or newly registered users is currently disabled. .
- Daily News FEWER FORECLOSURES: The number of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. homeowners who went into foreclosure foreclosure Legal proceeding by which a borrower's rights to a mortgaged property may be extinguished if the borrower fails to live up to the obligations agreed to in the loan contract. during the second quarter was 7,116, down 29 percent from 9,981 a year ago, Acxiom Corp.'s DataQuick Products Division reported Friday. Statewide, foreclosures declined to their lowest level in seven years, due to a strong economy and rising home prices. Lending institutions started foreclosure proceedings on 25,207 homeowners statewide during the second quarter.The record high occurred during the first quarter of 1996, when 44,665 defaults were recorded in California. - City News Service |
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