Finance News Archive

Employment in San Diego County reached an all-time high in January, breaking the record set on the eve of the Great Recession, according to a report released Friday by the state Employment Development Department.

Investors had every reason to be afraid. The Great Recession zapped the U.S. economy and there were ample reasons to believe the worst was not over.

Recent economic news has been on the weak side. I’ve continually talked about the weather as a factor; some may think it is an excuse and others may understand.

Year-over-year sales of previously owned homes throughout San Diego County fell in February and prices continued to stabilize, according to new housing statistics from the Greater San Diego Association of Realtors (SDAR).

The stealth rally continues on Wall Street. After a blow-off decline in January and early February, the stock market has resumed its upward momentum over the past five weeks, taking the S&P 500 stock index to record highs and pulling other indexes higher.

Major Economic Releases

Stock prices were mostly higher Thursday despite weak sales reports from retailers such as Costco and Staples.

Encore Capital Group Inc. reported it priced $140 million aggregate principal amount of 2.875 percent convertible senior notes due 2012 to be sold to qualified institutional buyers, and Leap Wireless Intl Inc. showed a net loss of $603 million, or $8.20 per share, for the year ended Dec. 31, according to company announcements, SEC filings and Bloomberg News.

Maybe it was a Mardi Gras hangover. Stocks were very quiet yesterday after two days of hyperactive trading. The Dow industrials were down just 35 points while the Nasdaq added 6 points.

Major Economic Releases

The U.S. economy is recovering gradually, unexcitingly and unsteadily while pro-risk behavior is making its way back into the market, a financial expert said Monday.

San Francisco-based BRE Properties has continued to divest itself of apartments in San Diego and around the country, as it prepares to become part of Palo Alto-based Essex Property Trust in a $5 billion transaction expected to close by the end of March.

Wall Street took a breather Wednesday after two days of volatile trading.

Zogenix Inc. reported a preliminary net loss of $35.6 million, or 28 cents per share, for the fourth quarter, and a net loss of $80.9 million, or 74 cents per share, for the full year 2013, and Sequenom Inc.reported CEO Harry Hixson is retiring June 10 and will be succeeded by William Welch, who is currently president and CFO, and CFO Paul Maier will retire effective as of the annual meeting, and Carolyn Beaver will assume that role, according to company announcements, SEC filings and Bloomberg News.

San Diego-based Heritage Golf Group, an owner and operator of private, resort and daily fee golf properties, announced Wednesday that it has been recapitalized as part of a majority investment from private equity firm Tower Three Partners.

The San Diego offices of HFF Inc. have secured $23.5 million in financing for two multihousing developments totaling 141 units in National City.

The power of yesterday’s rally was, in a word, impressive. The Dow industrials posted the biggest gain of the year, up 228 points, or 1.4 percent. However, percentage-wise, the biggest gain came from the Nasdaq composite, up 1.75 percent.

Major Economic Releases

When attorney Lynn Schenk married in late 1972, she went to a San Diego branch of the now-defunct Security Pacific Bank with what today would be a simple request: to add her new husband’s name to her long-held checking account.

San Diego County's commercial real estate markets continue to improve -- but it is a mixed picture for the mortgage/finance community.