SURGE: Valley companies have not been left...
SURGE: Valley companies have not been left behind as the stock market rallied for the fourth time in a week Friday--nudging ever closer to 5,000 (D2). Many have watched stocks creep up for months: Last quarter, nearly 75% of local firms saw increases.
NUMERO UNO: Last quarter’s No. 1 Valley-Ventura stock performer--California Amplifier of Camarillo--continued its upswing Friday, closing at $27 per share. That’s up 50 cents from Thursday--and a whopping $16.75 since June. But the company--which helps build wireless cable television networks abroad--is just trying to ignore it. “We can’t let it affect us emotionally,” said Michael Ferron, chief financial officer. That’s not easy, given calls from excited investors, who monitor the stock more often than execs do, he said.
CAN DO: Seventh-graders at Lawrence Middle School showed off their can-do spirit Friday. In just two weeks, students in The Rays, a service club, amassed 4,000 cans of food for the needy. Assistant Principal Brenda Winter said the goodies, being packed, above, by club president Jackie Spenchian, were turned over to Pacoima-based MEND on Friday.
TILL YOU DROP: In Newswatch’s ongoing effort to keep readers up to date on a crucial topic--where to shop--we bring you the latest from Federated Department Stores. . . . The folks at Federated say they’re selling nine Broadways, including one in Canoga Park, to Sears. The Broadway Panorama City will close and stores in Northridge and Glendale will become Macy’s (D1).
SIGN ON: Terry Lumber Co. in Tarzana specializes in bad lumber puns. But this week, their sign went further, saying STUD SERVICE AVAILABLE. “This is probably stretching it,” admitted manager Mark Ernsberger. . . . But no complaints, only a would-be customer. The mail carrier came in and asked for a stud.