Top News & Analysis California

  • *Orbcomm had $10 million insurance policy on mission. CAPE CANAVERAL, Fla., Oct 12- An experimental communications satellite flying piggyback aboard a Space Exploration Technologies' Falcon 9 rocket fell out of orbit and burned up in the atmosphere following a problem during liftoff, satellite operator Orbcomm said on Friday.

  • --U.S. semiconductor supplier Advanced Micro Devices Inc. has released preliminary financial results for the quarter ended September 2012, which contained weaker results than we had anticipated and underperformance relative to its primary competitor, Intel.

  • NEW YORK-- Shares of XenoPort Inc. fell Friday after a Piper Jaffray analyst downgraded the stock, saying the company's experimental multiple sclerosis drug is years away from marketing approval or a development partnership.

  • stock listing back in May, the Pleasanton, California- based company opened New York Stock Exchange trading at $48.05. Earlier in the week, Workday raised its price range to $24 to $26 per share from $21 to $24 per share. The IPO values the company, founded by ex-PeopleSoft executives David Duffield and Aneel Bhusri, at almost $4.5 billion.

  • *Smaller tablet would be new segment for Apple. SAN FRANCISCO, Oct 12- Apple Inc will host an event on Oct. 23, said a source familiar with the plan, in what is expected to be the unveiling of a smaller iPad to venture into a market staked out well in advance by rivals Amazon.com Inc and Google Inc.

  • NEW YORK-- A Citigroup analyst on Friday downgraded the shares of Seagate Technology PLC and Western Digital Corp., two leading makers of hard drives, to "Sell" from "Buy" because he sees weakness not just in the PC sector, but in corporate spending on servers and storage arrays, which also use hard drives.

  • By Adam Tempkin and Charles Williams. Moreover, with frequent issuers Hyundai, Honda, Ally, World Omni and Ford already having tapped the market with large deals in recent weeks, issuance is bound to taper off, potentially focusing more on the so-called off-the run and esoteric sectors, as well as smaller auto issuers.

  • Texas- based oilfield services company Baker Hughes Inc. reported Friday that 1,411 rigs were exploring for oil and 422 were searching for gas. Of the major oil- and gas-producing states, Texas gained four rigs while Alaska, New Mexico and Oklahoma gained one apiece. Arkansas, Colorado, North Dakota and Wyoming lost one rig apiece.

  • Oct 12- Wells Fargo& Co's independent brokerage business has expanded in Florida and Oregon with veteran adviser teams that joined the company from rival firms UBS Wealth Management Americas and Bank of America's Merrill Lynch.

  • Gold Retreats Into the Close

    Gold is posting its biggest weekly decline in 2 months, reports CNBC's Sharon Epperson.

  • MEMPHIS, Tenn.-- The Beverly Hills home where the late Elvis Presley and his wife Priscilla once lived is up for sale, real estate website operator Trulia said. The house hit the market Wednesday for $12.9 million, according to Trulia.

  • FONTANA, Calif.-- Firefighters say the roof of a motorcycle warehouse in Fontana collapsed after a foot of rain water backed up behind clogged drains. San Bernardino County firefighters were called about 5 p.m. Thursday, after a heavy downpour.

  • *Smaller tablet would be new segment for Apple. SAN FRANCISCO, Oct 12- Apple Inc will host an event on Oct. 23, said a source familiar with the plan, in what is expected to be the unveiling of a smaller iPad to venture into a market staked out well in advance by rivals Amazon.com Inc and Google Inc.

  • HAYWARD, Calif.-- Impax Laboratories Inc. said Friday that the Food and Drug Administration is extending a review of its Parkinson's disease drug Rytary by three months until Jan. 21. Impax developed Rytary through a partnership with British drugmaker GlaxoSmithKline PLC. Shares of Impax Laboratories rose 2 cents to $26.07 in midday trading Friday.

  • SAN FRANCISCO, Oct 12- Micron Technology's chief executive said he expects to complete the acquisition of failed Japanese memory chipmaker Elpida Memory Inc in the first half of next year, despite opposition from a group of bondholders.

  • NEW YORK-- Shares of chipmaker Advanced Micro Devices Inc. hit a multi-year low Friday after it warned that sales in the latest quarter were well below its forecast.

  • Hundreds of workers and a lot of heavy machinery is involved in the project, but Thursday's accident was the first serious one reported since construction began in 2009, said Mark Littman, spokesman for the Los Angeles County Metropolitan Transportation Authority, which is overseeing the project.

  • NEW YORK, Oct 12- Antonio "Tony" Mendez is the rarest of creatures: A former spy who has come out of the woodwork. His story is the subject of Ben Affleck's new film, "Argo," released in the United States Friday, and tipped to feature in Hollywood's awards season.

  • *Wells Fargo weighs on financials. The Thomson Reuters/ University of Michigan's preliminary October reading on consumer sentiment rose to 83.1, well above the 78 forecast for the index as optimism about the economy improved. Wells Fargo, the biggest U.S. home lender, dropped 2.5 percent to $34.40.

  • SAN FRANCISCO, Oct 12- Micron Technology's chief executive said he expects to complete an acquisition of failed Japanese memory chipmaker Elpida Memory Inc. in the first half of next year, despite opposition from a group of bondholders.