Shares of Emeryville-based Peet's Coffee & Tea jumped again Thursday, extending a rise that began Wednesday when a Janney Capital analyst speculated Peet's would join Green Mountain's Keurig platform for sales of single-cup coffee and hot cocoa. During the two days, Peet's stock has soared 11.7 percent, including a 7.3 percent increase Wednesday and a 4.1 percent upswing Thursday. The beverage retailer's stock rose $1.88 and closed at $47.87 Thursday.
General Atlantic agreed to buy a stake in Palo Alto-based Facebook, valuing the social-networking company at about $65 billion dollars, CNBC's David Faber reported, citing unidentified people familiar with the matter. The purchase of 2.5 million shares from former Facebook employees must be approved by Facebook and amounts to one-tenth of 1 percent of the company, Faber said. Facebook said in January it raised $1.5 billion in a financing round led by Goldman Sachs. That transaction valued the company at $50 billion.
A Marin County hedge fund manager has agreed to pay $14 million to settle charges that he concealed millions of dollars from investors. Federal prosecutors say Lawrence Goldfarb was general manager of Baystar Capital Management when he invested his clients' money into a "side pocket," a type of account used to segregate hedge fund assets that are difficult to sell or value. They say Goldfarb failed to tell investors about $12 million he made in the side pocket and instead began reinvesting the money in 2006 into his own companies. In a deal with prosecutors and the SEC, the San Anselmo man admitted to committing wire fraud, agreed to pay back investors and agreed to pay a fine.
Pleasanton-based Ross Stores said same-store sales rose 3 percent for February. The off-price clothing retailer maintained a prior forecast that same-store sales would fall 2 percent to 3 percent in March and would rise 4 percent to 5 percent in April.
A San Ramon events center at 2640 Old Crow Canyon Road that had fallen into foreclosure in 2009 has been bought by San Ramon Presbyterian Church for roughly $3.5 million. The 27,000-square-foot complex is being renovated by the church. Brokers: Cornish & Carey and CB Richard Ellis.
Compiled from staff and wire reports.