Top News & Analysis California

  • PALO ALTO, Calif.-- Shares of Varian Medical Systems Inc. jumped 13 percent in afterhours trading Thursday after the company reported a 20 percent rise in its fourth-quarter profit fueled by higher device sales. Varian reported net income of $120.2 million, or $1.08 per share, up from $101 million, or 87 cents per share, in the prior year period.

  • Chief Executive Officer Stephen Chazen set a target of lowering costs to 2011 levels by the end of next year, zeroing in on those in the company's home state of California. The stock is down 13 percent so far in 2012, while Exxon Mobil Corp and Chevron Corp are up for that period.

  • Wall St view EPS 8 cents. Oct 25- The New York Times Co reported worse-than-expected results on Thursday as advertisers cut spending on both print and digital outlets, sending shares down 16 percent.

  • NORTH HOLLYWOOD, Calif.-- IPC The Hospitalist Company Inc. said Thursday that its net income rose 21 percent in the third quarter as it added more providers. Earnings in the July-September quarter came to $7.8 million, or 46 cents per share, from $6.5 million, or 38 cents per share, in the same quarter a year ago.

  • SANTA CLARA, Calif.-- Touch-screen maker Synaptics Inc. said Thursday that its fiscal first-quarter net income fell by more than half on weak sales of screens for desktop computers.

  • *McKesson reports Q2 adj EPS $1.92 vs est $1.78. Oct 25- U.S. drug wholesaler McKesson Corp struck a deal to buy medical products distributor PSS World Medical for $1.46 billion to boost scale and margins in its surgical devices supply business as medical procedure volumes fall.

  • GOLETA, Calif.-- Shoppers are tugging off their Uggs, and the maker of the sheepskin boots said Thursday that profit fell 31 percent in its most recent quarter, and slashed its outlook for the end of the year. The warning from Deckers Outdoor Corp., which also sells Teva shoes and sandals, comes just as the all-important holiday season kicks off.

  • HUNTINGTON BEACH, Calif.-- BJ's Restaurants Inc. said Thursday that its net income rose 8 percent in the third quarter on strengthening sales. The restaurant chain reported net income of $6.84 million, or 24 cents per share, for the quarter that ended Oct. 2. That compares with net income of $6.34 million, or 22 cents per share, in the same period last year.

  • Wall St view EPS 8 cents. Oct 25- The New York Times Co reported worse-than-expected results on Thursday as advertisers cut spending on both print and digital outlets, sending shares down 16 percent.

  • NOVATO, Calif.-- BioMarin Pharmaceutical Inc.' s third quarter loss narrowed, as sales jumped for two of the pharmaceutical company's drugs. The Novato, Calif., company said Thursday after the stock market closed that it lost $5.4 million, or 4 cents per share, in the three months that ended Sept. 30.

  • SAN FRANCISCO-- Diamond Foods Inc. said Thursday that it will restate two additional quarters of financial data as the snack food company tries to clean up the fallout from its improper accounting of payments to walnut growers.

  • People were arrested in five states Wednesday as part of a sweeping investigation aimed at bookmakers and money couriers connected to Internet and phone gambling, including men who prosecutors identified as owners of the online gambling site Pinnacle Sports.

  • IRVINE, Calif.-- The California Public Utilities Commission on Thursday opened an investigation into the damaged San Onofre nuclear power plant to determine whether ratepayers should bear costs tied to the facility that has been shut down most of the year.

  • *Nebraska, High Plains still suffering, wheat crop threatened. The portion of the United States under ``exceptional'' drought- the most dire classification- held steady at 5.84 percent and was mostly in western Kansas and Nebraska.

  • SACRAMENTO, Calif.-- The McClatchy Co. reported lower net income in the third quarter, hurt by declining circulation and ad revenue at its newspapers. The owner of The Miami Herald, The Sacramento Bee and other newspapers said Thursday that it earned $5.1 million, or 6 cents per share, in the July-September period.

  • Oct 25- Two big asset managers reported quarterly revenue declines on Thursday as investors moved into lower-fee fixed-income funds. Janus Capital Group said its third-quarter revenue had fallen 12 percent to $209 million, mostly because it had added more performance fees for its mutual funds.

  • Oct 25- The New York Times Co reported worse-than-expected results on Thursday as advertisers cut spending on both print and digital outlets, sending shares down 12 percent. Adjusting for severance costs and other special items, the company reported a quarterly loss of 1 cent per share, well below expectations of earnings of 8 cents per share.

  • Oct 25- The New York Times Co reported worse-than-expected results on Thursday as advertisers cut spending on both print and digital outlets, sending shares down 12 percent. Adjusting for severance costs and other special items, the company reported a quarterly loss of 1 cent per share, well below expectations of earnings of 8 cents per share.

  • NEW ORLEANS-- The Voodoo Music+ Arts Experience is bringing a European music festival experience to New Orleans with overnight tent camping and more Euro-dance-based acts to its stage.

  • NEW YORK-- A growth in early voting and tough economy for the media are forcing changes to the exit poll system that television networks and The Associated Press depend upon to deliver the story on Election Night, all with the pressure-filled backdrop of a tight presidential race.