Semtech Corp.
announced Tuesday it has been notified by the Nasdaq that it could be delisted from the exchange because it has not yet filed its Form 10 Q for the quarter ended April 30. The Camarillo-based semiconductor maker, which is being probed by the Securities and Exchange Commission for possible backdating of its executive stock options, said it has requested a hearing from the exchange and will remain listed pending a final decision. Semtech fell 25 cents to close the day at $14.01.
Jakks Pacific Inc.
announced it has won the exclusive right to develop Pokemon toys in North America starting next year. Financial details of the agreement between the Malibu-based toy company and a Nintendo Co. subsidiary were not disclosed. Hasbro Inc. has holds the North American rights through the end of this year. Jakks rose 51 cents to $17.82 on trading on the Nasdaq.
Panavision Inc.
announced that a board committee has approved an $8.50 per share offer from Ronald Perelman for all of its publicly traded stock, according to a Securities and Exchange Commission filing. Perelman, who lives in New York and made his name in leveraged buyouts, is the co-chairman and majority stockholder of the Woodland Hills-based manufacturer of movie cameras. Panavision, which is listed on the Pink Sheets, last traded at $7.75 on June 15.
Sony Pictures Home Entertainment
announced that it launched its first slate of Blu-ray Disc titles on Tuesday. The seven titles were released to coincide with the delivery of the first commercially available Blu-ray player by Samsung Electronics, which provides higher resolution than standard DVDs. The discs include “50 First Dates,” starring Adam Sandler, Luc Besson’s “The Fifth Element,” and “The Terminator,” starring Arnold Schwarzenegger. Blu-ray is competing against an alternative, new high-resolution DVD platform called HD-DVD, which is supported by Toshiba Corp. The Sony unit is based in Culver City.
Los Angeles-based
Ducommun Inc.
announced that it received a $15 million contract from Boeing Co. contractor United Technologies Corp. for the manufacture of mechanical enclosures and wires harnesses on the Boeing 787 aircraft. Engineering and development will be conducted by Ducommun’s Phoenix facility. Founded in 1849, Ducommun provides engineering and manufacturing services to the aerospace and defense industry.
