Guitar Center to Issue More Stock Guitar Center Inc. has filed with the Securities and Exchange Commission to sell up to $100 million in stock. In addition to tightening financial matters, the company plans to allocate the proceeds toward future acquisitions and other general corporate purposes The filing, known as a universal shelf registration statement, or S-3, entitles a company to sell common stock, preferred stock and debt securities from time to time with approval from the SEC. The company said the net proceeds obtained from the shares will be used to repay or refinance obligations under the credit facility and senior notes due 2006. Guitar Center’s move came about a week after the company forecast second-quarter results below estimates. The company said second-quarter net sales totaled $213 million, including $6 million in sales from American Music Group, with net income expected between 17 cents and 18 cents a diluted share. Homestore.com Probe Ends The U.S. Justice Department has halted its investigation into possible anti-competitive business practices by Homestore.com Inc. without taking any action against the Internet’s largest single source of home sale listings. Since April 2000, the agency’s antitrust unit had been investigating the Thousand Oaks-based firm’s business strategy, which includes exclusive contracts with residential property listing services Homestore has secured information on about 1.5 million homes for sale, more than 90 percent of the nation’s real estate listings, largely because of its relationship with the National Assn. of Realtors. Amgen, J & J; Settle Patent Dispute Johnson & Johnson and its licensing partner, Amgen Inc., have settled a long-standing patent dispute with Roche Holding and an American Home Products Corp. unit over their anemia drug, erythropoietin. Financial terms weren’t disclosed. J & J; and Amgen had sued Roche, which sells a version of the drug in Europe called NeoRecormon. Roche licenses the drug from American Home Products’ Genetics Institute Inc. The settlement allows Roche to continue selling its product in Europe. The agreement comes three months after Amgen won a British court ruling that Roche, Aventis SA and Transkaryotic Therapies Inc. had infringed the biotechnology company’s patent. All lawsuits, which were pending in about 30 countries, will be dropped. Thousand Oaks-based Amgen sells the drug as Epogen in the U.S. and J & J; sells it as Procrit in the U.S. and Eprex in Europe. Youbet.com Dodges Delisting The Nasdaq Listing Qualifications Panel has informed Youbet.com Inc. that its common stock will continue to be listed on The Nasdaq National Market. The Woodland Hills company was told May 22 that it failed to comply with minimum bid price requirements, and that its securities were, therefore, subject to delisting. Youbet.com argued its case for continued listing at a hearing on June 21 and was notified recently that Nasdaq would continue listing its common stock. Youbet.com provides network members the ability to watch and, in most states, wager on a wide selection of coast-to-coast thoroughbred and harness horse races via its exclusive closed-loop network. Youbet.com recently formed a strategic relationship with TVG, a wholly owned subsidiary of Gemstar-TV Guide International, Inc. The agreement gives Youbet.com a license to utilize TVG’s patented wagering technology for online and automated telephone applications and the right to video stream and accept online pari-mutuel wagers on horse racing from virtually all of TVG’s exclusive partner racetracks. Verdugo Bank Proposes Stock Split The Verdugo Banking Company’s board of directors has proposed a three-for-one stock split of its common stock. The split is subject to the approval of the California Department of Financial Institutions and the required filings with the California Secretary of State. It is anticipated that the split will become effective in August or September. Oakmont Review Extended Glendale residents will have an extra month to study a revised environmental impact report on the widely debated Oakmont V hillside project. The development calls for up to 572 new homes on the north face of the Verdugo Mountains. Responding to residents’ pleas that the original 45-day review period is not enough time to wade through the 1,000-page report, the Glendale City Council extended the period to 75 days. The city plans to hold a public hearing on the project Aug. 16 in the Glendale High School auditorium.