Finance News Archive

Major Economic Releases

Despite the self-inflicted wounds emanating from the nation's capital, the U.S. economy is poised for faster growth over the next two years, with San Diego and the rest of coastal California continuing to move ahead of the national average, according to the latest economic report from UCLA's Anderson Forecast.

The federal government shutdown in October helped push San Diego's economic outlook into its first decline in more than a year, but the forecast for the next six months remains positive.

Cubic Corp. showed a net income of $19.8 million, or 74 cents per share, for the year ended Sept. 30, and Kratos Defense & Security reported it received approximately $3.5 million in electronic warfare simulation and related product orders, according to company announcements, SEC filings and Bloomberg News.

An analyst boosted his rating and price target for San Diego-based Jack in the Box on Thursday, saying its profitability is likely to continue to improve.

First Allied Securities Inc., an independent broker/dealer supporting fee- and commission-based independent financial advisers across the nation, Thursday announced a suite of significant enhancements for the firm's premier advisory platform, Guided Portfolio Solutions (GPS).

Four in a row. It's a long way from a correction, but stocks have been drifting lower over the past four sessions, with the Dow industrials dropping a meager 1.3 percent during the decline.

Major Economic Releases

Shares of Ambit Biosciences tumbled Wednesday after the company said it won't file for accelerated approval of its leukemia drug quizartinib, and will run a late-stage clinical trial instead.

Medicines Co. has acquired a San Diego-based privately held drugmaker that has developed several potential treatments for serious infections in a deal that could be worth more than $400 million.

The second Plug and Play San Diego pitch competition lived up to the success of its predecessor, with seven of the 15 startups that pitched each earning $25,000 in funding as well as a valuable spot at Plug and Play’s StartupCamp in Sunnyvale.

Banc of California Inc. reported a private placement of 1.5 million shares of its common stock to funds managed by Cubic Corp. reported it won a major combat training center equipment order in Asia valued at more than $70 million, according to company announcements, SEC filings and Bloomberg News.

Ligand Pharmaceuticals Inc. (Nasdaq: LGND) is revising upward its previous revenue and net income guidance for the fourth quarter and full year 2013 as a result of higher-than-expected sales of Captisol material.

There has been a modest shift in momentum of Wall Street as stock prices have dropped for three sessions in a row. Granted, the losses have been minimal with the Dow industrials down a mere 1.1 percent during the decline. But it is enough for many of the permabears to say, "See, I told you so."

Major Economic Releases

Callan Capital appointed Robert Mikulski to the position of senior client service administrator.

Regents Bank has promoted Jon Michael Caffal to regional manager of its Vista office.

Stocks slid for the third consecutive day Tuesday as investors fretted about holiday sales and upcoming economic reports.

Shortly after last month's observance of Veterans Day, members of the Senate Commerce Committee met to discuss “Soldiers as Consumers: predatory and unfair business practices harming the military community.”

Jack In The Box Inc. announced it promoted three executives: Mark Blankenship to vice president; Paul Melancon to senior vice president of finance, controller and treasurer; and Keith Guilbault to senior vice president and chief marketing officer and Saleen Automotive Inc. announced it is developing an electric vehicle for eventual sale, according to company announcements, SEC filings and Bloomberg News.