– Hot Topic Inc.

announced Friday that its board of directors approved the repurchase of up to $20 million of the teen retailer’s common stock. The City of Industry-based company said it intends to make repurchases occasionally on the open market at prevailing prices or in transactions off the market. The repurchases are expected to continue to late January next year. Hot Topic shares fell 2 cents, or .14 percent, to $14.12 on the Nasdaq.

– SeaLife Marine Products Inc.

reported a net loss of $414,732 (2 cents per diluted share) for the quarter ended June 30, 2005, compared with a net loss of $147,027 (1 cent) for the like period last year. Net sales were $41,279 for the quarter, compared with $2,374 in the year-ago period.

Robert McCaslin, chief executive of the Culver City-based manufacturer of coatings for the commercial maritime industry, said the company has signed new distribution deals in Scandinavia and North Africa, and expects to continue expanding its distribution base.

– Creative Computer Applications Inc.

, a Calabasas-based developer of clinical information systems for hospital and clinic-based laboratories, announced plans Friday to merge with a Jacksonville, Fla., company that provides clinical image management systems for the medical imaging market. The merger, which is subject to regulatory review and shareholder approval, is expected to be complete in the fall. Creative Computer is a healthcare information technology and service provider that provides software and browser-based solutions.

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Standard & Poor’s Ratings Service said Friday that it raised the recovery ratings on bank loans for

CKE Restaurants Inc.

, the parent of Carl’s Jr. and Hardee’s fast-food restaurants. The ratings for Carpinteria-based CKE jumped to one from three. A one rating indicates a full recovery of principal, while a three rating shows a 50 percent to 80 percent recovery of principal.

The rating action changes are a reflection of debt repayment and came after review of 49 secured retail-industry bank loans. Internet floral retailer FTD Inc. joined CKE as the only company to be raised to a one from a three, while five other companies’ ratings went to a two from a three.