Finance News Archive

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Showing 1-20 of 1560 stories from the past year.

When Congress decides to hold a hearing on a topic, you know it is something serious. So last week's session on retirement savings made it clear that the way people fund their golden years is changing dramatically.

San Diego activist fund manager Relational Investors LLC will wind down its current fund by the end of next year because of co-founder Ralph Whitworth's medical leave and will start a new fund in 2015 to see through unfinished campaigns, people with knowledge of the matter said.

Zogenix Inc. reported that it submitted a supplemental new drug application to the FDA for an abuse-deterrent formulation of the painkiller Zohydro ER extended–release capsules, and Bio-Matrix Scientific Group announced the completion of its preclinical experiments supporting the use of dCellVax, a personalized breast cancer immunotherapy, according to company announcements, SEC filings and Bloomberg News.

Del Mar-based Fident Capital has secured $14.2 million worth of real estate project financing for the acquisition, entitlement and development of two properties in San Diego and Riverside counties.

Major Economic Releases

You know the old saying, “There's no such thing as a free lunch?”

LRAD Corp. announced the receipt of an order totaling $610,000 for LRAD 500X systems and accessories from the U.S. Army for ongoing operations in Afghanistan, and Xenonics Holdings Inc. announced it was awarded purchase orders valued at approximately $1 million primarily from the U.S. Navy for its NightHunter high-intensity illumination devices, according to company announcements, SEC filings and Bloomberg News.

Acutus Medical Inc. announced it has completed an additional $26.2M financing to continue developing its imaging/mapping system, as well as bring to market a complete product portfolio.

It could have been worse. After dropping more than 170 points at the start of trading yesterday, it sure looked like the Dow industrials were on their way to another triple-digit day. But, as the session progressed, the index slowly started to recover and finished with a loss of just 42 points.

Major Economic Releases

The mergers and acquisitions market in the software space was hot in the first half of 2014 in both of what Brad Weekes, senior vice president of San Diego's Software Equity Group, calls the two branches of software companies: Software as a Service and Internet firms.

It should come as no surprise to locals, but might be shocking to those who think San Diego is just one sunny beach after another, that the region is a hot bed of technology and startups, boasting high numbers of new companies, patents and funding dollars in 2013, according to Connect’s 2013 Innovation Report.

More than 400 tech-related startups were launched in San Diego County in 2013, the most since the beginning of the recession in 2007, according to a report released Monday by Connect.

Volcano Corp. reported beneficial owner Engaged Capital sent an open letter to the company’s Board of Directors and filed it with the SEC, detailing what it sees as the multi-year history of management’s flawed long-term plans, and Ambit Biosciences Corp. reported it is being acquired by Daiichi Sankyo for $15 per share for a total transaction value of up to $410 million, according to company announcements, SEC filings and Bloomberg News.

San Diego-based Ambit Biosciences (Nasdaq: AMBI) and Tokyo-based Daiichi Sankyo Co. Ltd. jointly announced Monday that they have entered into a definitive merger agreement, under which Daiichi Sankyo will acquire all of the outstanding common stock of Ambit Biosciences.

The hits just keep on coming. Early trading on Wall Street this morning continues the volatility of last week when each trading session saw the Dow industrials go up or down triple digits. Of course, the money media much preferred talking about the down days.

Major Economic Releases

Events this week will range from the Internet of Things to county permits to Orchids and Onions.

When asked in the early 1900s what he thought was in store for the stock market one day, legendary financier and investor J.P. Morgan said, “It will fluctuate, young man. It will fluctuate.”

The stock market has been seesawing recently and investors seem to have become complacent. Remember: The stock market does go down and there is no reason for panic that there will be a big drop soon.

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