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IN BRIEF.

VALLEY STOCKS FALL: Stocks in the Daily News/Bloomberg Index fell 44 cents to 126.38, led by Vitesse Semiconductor Corp. and Semtech Corp. Vitesse fell 4 1/32 to 42-5/8. Semtech fell 3 11/16 to 55 9/16.

U.S. stocks fell for a second day as concern spread that slowing economies in Asia will hurt semiconductor companies. Texas Instruments Inc., Applied Materials Inc. and KLA-Tencor Corp. paced the retreat.

?13Bloomberg News

PAULA GOES PUBLIC: Paula Financial, a Pasadena-based underwriter and distributor of commercial insurance products, went public Friday with an initial offering of 2.5 million common shares initially priced at $18.50 each. The stock closed at 23-7/8, up 5-3/8. About 2.2 million shares were issued by the firm and the rest came from selling shareholders. Funds will be used to bolster its underwriting business, to repay $11.5 million in bank debt and for general corporate uses.

?13Daily News
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Title Annotation:Business
Publication:Daily News (Los Angeles, CA)
Geographic Code:1USA
Date:Oct 25, 1997
Words:158
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