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Top News & Analysis California


  • NEW YORK, Oct 24- Barnes& Noble Inc said on Wednesday that customers who shopped at 63 of its stores as recently as last month may have had their credit or debit card information stolen in what the U.S. bookstore chain called a ``sophisticated criminal effort.''.

  • SAN FRANCISCO, Oct 24- Billionaire hedge fund manager Tom Steyer says he will focus on pushing California toward an alternative energy future when he steps down from the company he founded, Farallon Capital.

  • SAN FRANCISCO, Oct 24- Zynga Inc raised the lower end of its 2012 earnings outlook on Wednesday as the company reported a slight uptick in revenue that beat Wall Street's rock-bottom expectations. Shares of Zynga jumped 16 percent to $2.47 in after-hours trade. The news was a bright spot after Zynga slashed its 2012 outlook earlier this month.

  • SAN FRANCISCO, Oct 24- Zynga Inc raised the lower end of its 2012 earnings outlook on Wednesday as the company reported a slight uptick in revenue that beat the Street's rock-bottom expectations.

  • Homebuilder Ryland Group moves to profit in 3Q Wednesday, 24 Oct 2012 | 7:57 PM ET

    LOS ANGELES-- Ryland Group Inc. said Wednesday it returned to a profit in the third quarter, as the homebuilder sold more homes and benefited from higher prices. The results trumped Wall Street's expectations, sending shares in the Westlake Village, Calif., company up more than 5 percent in after-hours trading.

  • FACTBOX-Fed officials' comments on U.S. economy, policy Wednesday, 24 Oct 2012 | 7:33 PM ET

    *SAN FRANCISCO FED PRESIDENT JOHN WILLIAMS, Oct. 15 ``In no way has our commitment to price stability wavered.''.

  • Skechers shares rise on upbeat outlook Wednesday, 24 Oct 2012 | 7:00 PM ET

    MANHATTAN BEACH, Calif.-- Shoe designer and retailer Skechers USA Inc. said Wednesday that its net income rose 39 percent as revenue from its wholesale division and its own stores grew. Net income for the three months ended Sept. 30 rose to $11.6 million, or 22 cents per share, from $8.4 million, or 17 cents per share, last year.

  • UPDATE 3-Visa hires JPMorgan's Charles Scharf as CEO Wednesday, 24 Oct 2012 | 6:25 PM ET

    Oct 24- Visa Inc said Charles Scharf, a former head of JPMorgan Chase& Co's retail financial services division, will succeed Joseph Saunders as chief executive, effective Nov. 1. Scharf worked closely with Jamie Dimon, chairman and CEO of JPMorgan, when the two men were at Citigroup Inc in the 1990 s.

  • Orexigen plans public offering of its stock Wednesday, 24 Oct 2012 | 6:21 PM ET

    Credit Suisse Securities LLC, BofA Merrill Lynch and Leerink Swann LLC will act as joint managers. The company hopes to file in late 2013, triggering a 10- month review process by the FDA. The FDA refused to approve the drug in February 2011.

  • Cheesecake Factory's earnings rise 32 percent Wednesday, 24 Oct 2012 | 5:47 PM ET

    CALABASAS HILLS, Calif.-- The Cheesecake Factory reported a 32 percent rise in quarterly earnings Wednesday as more customers showed up to eat at its restaurants. Net income for the third quarter was $27.2 million, or 49 cents per share. Comparable sales at Cheesecake Factory restaurants rose 2.9 percent from a year earlier.

  • Coming changes in estate, gift taxes stir 'frenzy' Wednesday, 24 Oct 2012 | 5:09 PM ET

    CHICAGO-- Taxes that are largely a concern of the very rich will soon affect far more people unless Congress steps in. Financial advisers, and trust and estate attorneys have been flooded with requests for assistance in the final months before the record-high exemption for both taxes is scheduled to plunge to $1 million from $5.12 million on Jan 1.

  • Low interest in Mamtek leftovers at Mo. auction Wednesday, 24 Oct 2012 | 4:30 PM ET

    MOBERLY, Mo.-- An auction of assets left over from Moberly's failed artificial sweetener factory drew curious onlookers and piecemeal bidders Wednesday but no large company swooping in to replace a project once cast as the small city's economic salvation.

  • Audit: US oversight of charter school funds lax Wednesday, 24 Oct 2012 | 4:11 PM ET

    LOS ANGELES-- An audit of the U.S. Department of Education's division overseeing hundreds of millions of dollars in charter school funding has criticized the office for failing to properly monitor how states spend the money.

  • NuVasive rises as 3Q revenue tops estimates Wednesday, 24 Oct 2012 | 4:10 PM ET

    SAN DIEGO-- Medical device maker NuVasive Inc. said Wednesday that it turned a profit in the third quarter, and its shares bounced back as its earnings topped estimates. NuVasive said its revenue grew 12 percent to $148.4 million. NuVasive reported net income of $2.4 million, or 5 cents per share.

  • Xoma prices stock offering at $3, a 7 pct discount Wednesday, 24 Oct 2012 | 4:05 PM ET

    BERKELEY, Calif.-- Shares of Xoma Corp. slid Wednesday after the biotechnology company said that it will sell 13.3 million shares of its common stock at $3 per share, a 7 percent discount to its closing price of $3.22 on Tuesday. Xoma anticipates proceeds of roughly $36.9 million from the offering.

  • FOREX-Euro slips after weak German data; Fed awaited Wednesday, 24 Oct 2012 | 3:57 PM ET

    Losses in the euro were limited after Greece's finance minister said Athens had been given additional time by international lenders to impose its austerity cuts, an assertion played down by leading EU officials.

  • Tony NYC suburb welcomes NJ's first pot dispensary Wednesday, 24 Oct 2012 | 3:57 PM ET

    MONTCLAIR, N.J.-- Across New Jersey, most communities approached about hosting one of the state's first legal medical marijuana dispensaries in out-of-the-way industrial zones have just said no, after outpourings of public opposition.

  • *Citi, Yahoo, AIG examples show more aggressive boards. NEW YORK, Oct 24- In the summer of 2011, Yahoo Inc's board decided enough was enough. So, the board held a final meeting in Los Angeles, away from Yahoo's Silicon Valley headquarters, to review the company's progress, a source familiar with the matter said.

  • US suit alleges 'brazen' fraud at Countrywide Wednesday, 24 Oct 2012 | 3:33 PM ET

    The suit, filed Wednesday by the top federal prosecutor in Manhattan, also underscored how Bank of America's purchase of Countrywide in July 2008, just before the financial crisis, backfired severely. He also charged that Bank of America has resisted buying back soured mortgages from Fannie Mae and Freddie Mac, which bought loans from Countrywide.

  • Gilead Sciences rises on 3Q results, new outlook Wednesday, 24 Oct 2012 | 3:18 PM ET

    NEW YORK-- Shares of Gilead Sciences Inc. rose Wednesday after the HIV drug maker reported strong third-quarter results and projected greater sales in 2012.. Stribild, which combines four medications into a single pill, was approved by the Food and Drug Administration in August.