IN BRIEF.VALLEY INDEX JUMPS: The Daily News/Bloomberg Index rose 0.16 to 126.74, led by Countrywide Credit Industries Inc. of Calabasas and Guitar Center Inc. of Agoura Hills. Countrywide rose $2.25 to $46.5625. Guitar Center rose $1.5625 to $19.6875.
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MATTHEWS GOES SMALL: Matthews Studio Equipment Group, a Burbank-based supplier of lighting and electrical equipment A piece of electrical equipment is a machine, powered by electricity and usually consists of an enclosure, a variety of electrical components and often a power switch. Examples of Electrical Equipment
Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. that the company did not meet minimum requirements for continued-listing status on the National Market System and faced delisting. The company initially said it would ask for a hearing to try to retain its Nasdaq spot, but later chose to apply for the SmallCap listing instead.
- Daily News
LITTON INKS DEAL: Woodland Hills-based 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.'s Data Systems Division has been awarded a $19 million contract to upgrade and modernize 31 tactical air command Tactical Air Command (TAC) (1946 - 1992) was a Major Command of the United States Air Force (USAF) charged with battlefield-level (tactical) air combat, including light bombardment, close air support of ground troops, interdiction of enemy forces, and air transport of and control systems for the U.S. Marine Corps. The AN/TYQ-23 systems to be serviced by Litton's Agoura Hills-based Data Systems division are a joint program of the Marines and the U.S. Air Force.
- Daily News
CHEROKEE MISTAKE: Cherokee Inc., a Van Nuys-based licenser of brand-name apparel, said Monday that its net income for the second quarter ended Aug. 1 was $1.3 million, or 15 cents per share Cents per share
The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , instead of the $1.9 million, or 22 cents per share, it had reported initially. The error stemmed from an overpayment o·ver·pay
v. o·ver·paid , o·ver·pay·ing, o·ver·pays
1. To pay (a party) too much.
2. To pay an amount in excess of (a sum due).
To pay too much. of royalty revenues to the company by one of its licensees. The overpayment will be credited to the licensee's account, but will not affect Cherokee's third-quarter results.
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