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Monday, Sep 25, 2023

Briefs: Avery, Amgen, Ryland, Teledyne

Avery Dennison Corp. on Friday missed analyst estimates for earnings, sending shares down 3 percent. The Glendale label maker reported net earnings of $42.5 million (44 cents a share) in the fiscal second quarter ended June 28, compared to $68.8 million (68 cents per share) for the same quarter last year. Revenue fell 4 percent to $1.62 billion. Analysts on average expected earnings of 79 cents a share on revenue of $1.62, according to Thomson Financial Network. Shares closed down $1.66 cents, or 3.2 percent, to $49.24 on the New York Stock Exchange. Amgen Inc. will distribute a dividend of 61 cents a share, the company announced Friday. The Thousand Oaks pharmaceutical company will pay the dividend on Sept. 5 to shareholders of record on Aug. 14. Amgen will report its second-quarter financial results on July 29. Shares closed up 58 cents or a fraction of a percent to $122.84 in trading on the Nasdaq. The Board of Ryland Group Inc. declared on Friday a dividend of 3 cents a share, payable to shareholders of record on Oct. 15. The Westlake Village homebuilder has maintained a stable, 3-cent quarterly dividend for more than a year. The company plans to announce its second quarter financial results on July 31. Shares closed down 47 cents or 1.4 percent to $36.97 on the New York Stock Exchange. Teledyne Technologies Inc. added Jane C. Sherburne as a member of its board of directors, raising the full membership to 11, the Thousand Oaks company announced this week. Sherburne is a principal in Washington, D.C. legal consulting firm Sherburne PLLC. She previously had been senior executive vice president, general counsel and corporate secretary at Bank of New York Mellon Corp., in New York, and senior executive vice president and corporate secretary at Wachovia Corp. Teledyne shares closed down $1.12, or just more than 1 percent, to $93.47 on the New York Stock Exchange.

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