Also. . .

* Los Angeles-based CB Commercial Real Estate Services Group Inc., which this week changed its name to CB Richard Ellis, reported first-quarter profit from operations of $1.97 million, or 10 cents per diluted share, on revenue of $175.1 million. That compares with net income of $2.27 million, or 16 cents, on revenue or $134 million. The rise in revenue reflects the purchase of rival Koll Real Estate Services for $145 million last year.

* Golden State Bancorp Inc. Chairman and Chief Executive Stephen Trafton filed to sell 420,000 shares, three months after agreeing to sell the thrift to the parent of California Federal Bank. Trafton estimated that he would collect $16.5 million from the sale, based on a projected price of $39.31 a share, according to a Securities and Exchange Commission filing. In addition to his own sale, based on the exercise of options, a Trafton family partnership filed to sell 80,000 shares. The sales come two weeks after Glendale-based Golden State, the parent of Glendale Federal Bank, rose to a four-year high of $42.06 on optimism about the thrift’s merger with San Francisco-based Cal Fed and prospects that the combined institution will be a takeover candidate.

* Cleveland-based Parker Hannifin Corp., which makes industrial motion and control devices, has purchased Palo Alto-based Dynamic Valves Inc., a designer and maker of electrohydraulic and electropneumatic valves, for undisclosed terms.