Advertisement
YOU ARE HERE: LAT HomeCollections

CALIFORNIA: News and Insight on Business in the Golden
State | THE STATE

Also. . .

April 16, 1998

* Santa Clara-based Infoseek Corp. shares surged 35% after the Internet search engine company agreed to buy WebChat Broadcasting System to attract more users. Infoseek, which competes with Yahoo Inc. and Excite Inc. to help Internet users search for information on the World Wide Web, is trying to bulk up its personalized services to draw users back regularly and boost advertising revenue. Infoseek shares jumped $8.88 to close at $34.50 on Nasdaq.

* Los Angeles-based Occidental Petroleum Corp. said it completed the sale of $376 million in U.S. oil and natural gas assets to help pay for the Elk Hills field in California and its stock buyback program. The oil company announced a $4.7-billion fund-raising program in October that was seen as a concession to investors who want Occidental to better focus on finding and selling oil. It has so far resulted in sales valued at a total of $4.5 billion, the company said.

* Barrett Business Services Inc. of Portland, Ore., agreed in principle to acquire San Bernardino-based Western Industrial Management Inc. for $11.1 million in stock. Western Industrial is a private staffing services company.

Advertisement
Los Angeles Times Articles
|
|
|