NEWTON, MA-Clarendon Photonics, a developer of planar integrated DWDM components, opens its 24,000-sf headquarters here. The company recently received $18 in equity financing from telecommunications investors who invest in start-up ventures.

NEW YORK CITY-Lehman Brothers' analysts base their opinion on the signal from Gap that it may open fewer stores and look to build smaller outlets and The Limited's announcement that it's looking to sell women's clothing retailer Lane Bryant.

DALLAS-In an ambitious undertaking, Medical City Dallas will spend $200 million to expand and renovate 756,613 sf at its sprawling North Dallas campus. The project gets under way in summer or fall and will take three to five years to complete.

PHOENIX--One day after filing for bankruptcy, Scottsdale-based Finova saw its stock rise nearly 18%, an optimistic sign that a $6 billion restructuring plan could become even sweeter as creditors push for a greater return.