Finance News Archive

No profit-taking. Despite a huge rally Friday -- Dow industrials gained 198 points -- there was little selling yesterday as investors seemed very comfortable in holding on to their stocks as the year moves toward a close.

Major Economic Releases

The financial markets drifted higher Monday as a severe winter storm kept many traders on the sidelines.

Accelrys Inc. announced that it has acquired Ireland-based QUMAS for approximately $50 million in cash, and CareFusion Corp. announced that it will invest $100 million for a 40 percent minority stake in Caesarea Medical Electronics (CME), according to company announcements, SEC filings and Bloomberg News.

CareFusion (NYSE: CFN) has announced it will invest $100 million for a 40 percent minority stake in Caesarea Medical Electronics (CME), an infusion pump systems manufacturer.

Pity the poor bears. Just when it looked like maybe a correction was building on Wall Street with a mini dose of profit-taking in the major stock market indexes, along comes one of the biggest rallies of 2013.

Major Economic Releases

The year 2014 will likely be the year the Federal Reserve begins to take its training wheels off the economy to see if it can move forward on its own power, economist Lynn Reaser told a forum at the Liberty Station Conference Center on Friday.

Many people think the way to make a lot of money in the stock market is to find the next Apple and have it grow 2,000 percent over the next few years.

PriceSmart Inc. (Nasdaq: PSMT) Friday announced that for the month of November 2013, net sales increased 13.8 percent to $209 million from $183.7 million in November a year earlier.

We're still looking for an up day in December. Many permabears are suggesting the five-day slide in the Dow industrials is one of the signs of the Apocalypse, but it's hard to imagine how a decline of 1.7 percent during the last five trading days can be considered anything more than a pause in the buying that has lifted stock price this year beyond the wildest expectations.

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.