Finance News Archive

San Diego-based Nervana Systems Inc. announced $600,000 in seed financing from angel investors and unveiled its plan to develop custom hardware to boost the performance of artificial intelligence algorithms.

The global IPO market is off to "a very good start" this year, according to a recent Ernst & Young report. The first quarter of 2014 has been the best-performing first quarter since 2011 for both number of IPOs and capital raised.

Despite a slight dip last month, local businesses continue to have a relatively bright outlook about economic and business conditions, according to the latest monthly survey of members of the San Diego Regional Chamber of Commerce and East County Chamber of Commerce.

Illumina Inc. (Nasdaq: ILMN) reports it was not only profitable, but had a strong first quarter of the year.

Positive earnings reports pushed stock prices higher Tuesday and taking the major indexes closer to record highs.

Should all mutual funds offered through retirement accounts come with a warning label? At least one group says it might be a good idea.

Illumina Inc. reported a preliminary net income of $60 million, or 40 cents per share, for the first quarter of 2014, and Quidel Corp. reported it received FDA clearance to market its Lyra Direct Strep Assay, according to company announcements, SEC filings and Bloomberg News.

San Diego-based AMN Healthcare Services Inc. (NYSE: AHS), a provider of health care staffing services, said it has refinanced its existing credit facilities.

Five for five. The S&P 500 and the Nasdaq composite posted gains yesterday, making it five sessions in a row to the upside. It is the first time in 2014 the indexes have put together a winning streak that long.

Major Economic Releases

Citigroup Inc. is seeking buyers for about 50 branches holding $3 billion of deposits in California as the third-largest U.S. lender pares brick-and-mortar outlets, said three people involved in the process.

Stocks moved slightly higher Monday on optimism corporate quarterly earnings reports will top expectations. U.S. stocks rose a fifth day, with the Standard & Poor’s 500 Index capping its longest streak since October, amid signs of improving corporate earnings.

Qualcomm Inc. reported its price target was raised to $90 from $82 at CLSA, and Amn Healthcare Services Inc. reported it has refinanced its existing credit facilities, which now consist of a $150 million secured term loan and $225 million secured revolving line of credit, according to company announcements, SEC filings and Bloomberg News.

San Diego-based Dealstruck, an online crowdlending platform, today announced that the company has doubled its lending footprint from 20 states to 40 states across the U.S.

Back to work. Investors will probably be coming down this morning from the sugar high of eating too much Easter candy. A little pause is certainly in order following a very good week last week on Wall Street.

Major Economic Releases

A busy week is ahead for business groups, including events that will tackle issues of digital health and new stormwater requirements, as well as hold awards luncheons and mixers.

To the surprise of absolutely no one, many Americans feel they are paying too much in taxes. The passing last week of the income tax filing deadline is always a wake-up call for people to review their situation and explore legal ways to reduce their obligation to federal and state governments.

I often talk about being patient when it comes to investing, but you may not understand what that means. Also, I hardly ever share recent buys in my portfolio, but to help you understand patience, I’m going to discuss a recent purchase.

Big Blue blues. Yes, you can blame yesterday’s small drop in the Dow industrials on weakness in shares of IBM. The stock dropped $6.39 to $190.01 after reporting disappointing Q1 sales and revenues. The shares have been a weight on the Dow for some time. The stock peaked about $216 in March 2013, dropped to $172 two months ago and slowly bumped its way back toward $200 before getting clipped this week.