Finance News Archive

Organizations will hold meetings this week on a range of topics.

(Bloomberg) -- The economy in the U.S. expanded at a slower pace than forecast in the fourth quarter as cooling business investment, a slump in government outlays and a widening trade gap took some of the luster off the biggest gain in consumer spending in almost nine years.

It won't take very long for April 15 to roll around, and with it the annual rush to get state and federal tax returns filed on time. And as each year passes, it seems the process becomes more and more complicated.

Earnings are coming out for the fourth quarter of 2014 and, while some companies are doing well, others aren’t and are giving lower guidance.

San Diego-based BofI Holding Inc. (Nasdaq: BOFI), parent of BofI Federal Bank, announced its net income for the second fiscal quarter ending Dec. 31 was $19.4 million.

Wall Street is putting the wraps on January today and, despite media reports, it hasn't been a really bad month. The key word for January is "volatile," as we have seen a majority of sessions finish with the Dow industrials posting gains or losses of 100 points or more.

Major Economic Releases

Wells Fargo Bank has promoted Samantha Jones to head its commercial banking division in San Diego and Orange counties, overseeing more than 70 professionals based in Anaheim, Irvine, Carlsbad and downtown San Diego.

International Stem Cell Corp. announced it has completed the required preclinical studies and plans to begin the phase 1/2a clinical study of its cell therapy for the treatment of Parkinson’s disease in Australia within the next few months, and Jack In The Box Inc. announced the release of Buttery Jack burgers, featuring garlic herb butter melted on top of an all-new, quarter-pound signature beef patty and tucked inside Jack’s new gourmet signature bun, according to company announcements, SEC filings and Bloomberg News.

Like the highways in Boston, the stock market just doesn’t seem to have any traction. Several times lately, the markets have opened with decent gains -- only to drift lower as the session progressed. Yesterday was another example.

Major Economic Releases

Qualcomm Inc., the biggest maker of mobile-phone chips, reduced its forecast for revenue and profit this year, reflecting lost semiconductor orders at a major customer and more competition in China.

San Diego's Mitek (Nasdaq: MITK), a developer of mobile imaging for financial transactions and identification, announced the addition of Bill Aulet to the board of directors.

Your identity is twice as likely to be stolen as your house is to be broken into.

DexCom Inc.: (Nasdaq: DXCM) announced that the FDA is allowing the marketing of its Share app that let diabetics share glucose data over smartphones, and Apricus Biosciences Inc.: (Nasdaq: APRI) announced that the U.S. Patent and Trademark office issued a patent for RayVa, which addresses methods for treating Raynaud’s phenomenon, according to company announcements, SEC filings and Bloomberg News.

Bad news, good news. Yesterday the stock market reacted to some terrible Q4 earnings reports, especially from Microsoft. The stock declined by nearly 10 percent and wiped out $34.7 billion in market value. The Dow industrials fell more than 400 points in early trading but bounced back a bit to finish down 291 points.

Major Economic Releases

Starwood Capital Group entity paid $294.5 million for about 1 million square feet in a dozen office and industrial buildings in Sorrento Mesa and Carmel Mountain Ranch. The assets were sold by a Los Angeles-based Kilroy Realty Corp. partnership (Kilroy Realty L.P) to a Starwood partnership known as SOF-IX KR Holdings L.P. in a two-phase deal that substantially reduces Kilroy's presence in San Diego.

A San Diego Superior Court judge has rejected the request of San Diegans for Open Government to set aside his dismissal of the group's complaint challenging the way the city plans to borrow $120 million for capital improvements.

A day after hitting $200 per share for the first time since it began trading in 2000, Illumina reported record-setting financial results for the fourth quarter and fiscal year 2014.