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January 13, 1998

Goleta-based Applied Magnetics Corp. reported fiscal first-quarter net loss of $39.7 million, or $1.67 per share, including special charges, compared with a net income of $31.9 million, or $1.10, a year ago. . . . La Jolla-based Agouron Pharmaceuticals Inc. reported fiscal second-quarter net income of $4.9 million, or 15 cents per share, compared with a net loss of $12.5 million, or 46 cents a year ago. . . . Camp Hill, Pa.-based Rite Aid Corp. said it will change the names of the 1,007 Thrifty Payless Stores in California and elsewhere to Rite Aid stores later this year as it moves toward completing its acquisition of the Thrifty drugstore chain. Rite Aid also said it plans to remodel many of the former Thrify stores and open several more. . . . Beverly Hills-based Hilton Hotels Corp. said it will double to 200 the number of Hilton Garden Inns it will open through 2000, adding to the 100 of the mid-priced hotels open or in development now in the U.S., Canada and Mexico.

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