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Briefs: Teledyne, Superior, Ralph’s

Teledyne Technologies Inc. announced on Thursday that it received a contract to supply parts for the U.S. Navy’s Virginia-class submarine program. Teledyne, in Thousand Oaks, did not disclose the value of the multi-year contract awarded by General Dynamics Electric Boat of Groton, Conn. Teledyne DGO, a subsidiary in Portsmouth, N.H., will provide the electrical and fiber optic assembly hardware for the submarines. Teledyne Chief Executive Robert Mehrabian called the contract a significant award for Teledyne DGO and the company’s oil and gas division. “Working together, our oil and gas companies have demonstrated the ability to develop and manufacture interconnect solutions for the most demanding marine environments,” Mehrabian said in a prepared statement. Shares closed down $1.61, or nearly $2, to $92.64 on the New York Stock Exchange. The board of directors of Superior Industries International Inc. approved a $30 million stock repurchase program. The Van Nuys aluminum wheel manufacturer will buy back common shares on the open market or in private transactions. The timing of the purchases will depend on market conditions, the company said this week. The board authorized a $30 million stock repurchase in March 2013 that was completed earlier this year. Shares closed up 35 cents, or nearly 2 percent, to $18.15 on the New York Stock Exchange. Ralph’s will close a supermarket in Newhall next month. The grocer will shutter its 24860 Orchard Village Road outlet on Nov. 8 for financial reasons, despite a lease that runs into next year. “While we never make the decision to close a store without looking at every option available, we did make the decision to close this store that has been significantly underperforming for several years,” said Ralph’s spokesperson Kendra Doyel, in an email. The 52,000-square-foot grocery is in the Orchard Village Plaza, owned by Force Financial Corp. of Los Angeles. Ralphs, a unit of Kroger Co. in Cincinnati, retains five markets in the Santa Clarita Valley.

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