Top News & Analysis California

  • PALO ALTO, Calif.-- Shares of Anacor Pharmaceuticals Inc. tumbled Thursday after the drug developer announced pricing for a public offering of stock at a discounted rate to the current trading price. The Palo Alto, Calif., drug developer said that it priced an offering of 4 million shares at $6 per share.

  • NEW YORK-- Shares of Mellanox Technologies Ltd. tumbled Thursday, after the semiconductor maker issued a disappointing revenue outlook for the current quarter and full year.

  • VALENCIA, Calif.-- Shares of MannKind Corp. lost nearly a quarter of their value Thursday after the company announced plans to sell up to 140 million shares of stock. MannKind will use the funds to pay for new trials of its inhaled diabetes drug Afrezza and cancel more than $200 million in debt owed to its CEO.

  • BOSTON-- Massachusetts Auditor Suzanne Bump is urging the state to tighten up oversight of its MassHealth program.

  • NEW YORK-- Mayor Michael Bloomberg will spend at least $10 million of his personal fortune promoting moderate candidates around the country in the final weeks before Election Day, he announced Wednesday, adding himself to the list of wealthy Americans pouring millions of dollars into the 2012 election.

  • NEW YORK-- The stock market headed slightly lower on Thursday, following a leap in claims for unemployment benefits and weak results from American Express. The increase suggested that layoffs were increasing, however the Labor Department noted that there were technical reasons behind the swing, mainly delayed figures from one large state, California.

  • LOS ANGELES-- Celebrity charity work has been around as long as celebrity itself. "Beethoven was doing charity concerts," says Myrlia Purcell, founder of LooktotheStars.org, a website that tracks celebrity charity events around the world. Good thing Annie Lennox is around.

  • LOS ANGELES-- The Beverly Hilton's International Ballroom will soon be filled with flowers, chiffon, fine china and crystal stemware for a starry black-tie ball costing couples as much as $20,000 to attend.

  • Steve King of Iowa has little use for the Humane Society, particularly when it comes to laws designed to give calves, pregnant sows and hens a little more freedom on the farm.

  • LOS ANGELES-- A Los Angeles judge has dismissed a defamation lawsuit brought by former UCLA player Reeves Nelson against Time Inc., the parent company of Sports Illustrated, and a reporter who wrote a story about problems in the school's basketball program.

  • SAN JOSE, Calif.-- Microchip maker Cypress Semiconductor Corp.' s third-quarter net income fell 64 percent as revenue dropped, but called the results a "good quarter in tough times." The company said Thursday that it earned $14.3 million, or 9 cents per share, in the July-September period.

  • LOS ANGELES-- Los Angeles County assessor John Noguez, a top aide and a campaign contributor were arrested Wednesday as part of an investigation into influence peddling and slashing of property taxes for political allies. "Instead of acting in the best interest of the citizens of Los Angeles County, he turned his back on them," Cooley said.

  • RALEIGH, N.C.-- The Democratic National Convention relied on at least $5 million in corporate donations, despite repeated pledges by top party officials only to use money raised from individuals.

  • AMSTERDAM-- In Hollywood movies, heists usually feature criminals who plan meticulously and use high-tech equipment to avoid detection. But the thieves who snatched seven paintings by Picasso, Matisse and Monet worth millions from a gallery in Rotterdam appear to have taken a less glamorous approach, relying mostly on speed and brute force.

  • John Freedson, a producer of the off- Broadway musical revue that hilariously tweaks Broadway shows and stars, said Wednesday that its run will be extended through April 28.

  • WASHINGTON-- Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The four-week average of applications, a less volatile measure, rose slightly to 365,500, the Labor Department said Thursday.

  • SAN FRANCISCO-- Google Inc.' s third-quarter earnings should reveal whether investors' recently rejuvenated optimism about the Internet search leader's growth prospects is justified.

  • Drug developer Isis Pharmaceuticals Inc. and partner Genzyme said Thursday a panel of advisers to the Food and Drug Administration had voted 9 to 6 to recommend approval of Kynamro, for treating patients genetically predisposed to have sky-high LDL, or bad cholesterol. The FDA is not bound to follow recommendations of its advisers, but usually does so.

  • DETROIT-- A federal judge in California has dismissed a lawsuit challenging the use of Albert Einstein's image in a magazine ad by General Motors. The Detroit News says the Hebrew University of Jerusalem filed the lawsuit against GM. Information from: The Detroit News, http://detnews.com/.

  • In a letter to Geron shareholders, BioTime suggests two deals that would form a new publicly traded company owning Geron's stem cell assets with some of BioTime's. It said Geron could have a stake of up to 45 percent in the company, which would also hold $40 million in BioTime stock along with shares of some BioTime stem cell subsidiaries.