Friday, October 10, 2014

San Diego, Calif Area Company 2013 Audited Earnings Up 280% Over 2009, Stock Market Prices Up 298% Since March 6, 2009 and Whoa! So Many San Diego Health Care IPOs Under Obama

Since President Obama has been in Southern California including San Diego last night and today, I think it makes sense to research what has been going on with San Diego Area Company earnings, stock market prices and Initial Public Offerings during the Obama Administration.

I found 22 San Diego Area Headquartered Companies with Market Capitalizations now of at least $1 bil each and with annual audited financial statements filed with the SEC covering all years from 2007 to 2013.

The Total Audited 2013 Net Income from Continuing Operations of these 22 San Diego Area Companies was $7.0 bil, an increase of a robust 280% over the comparable earnings of $1.8 bil in 2009.

In addition, the Total Audited Earnings of these 22 largest San Diego Area Companies in 2013 of $7.0 bil were up an exceptionally off-the-charts 129% increase over the comparable earnings in 2007 of $3.0 bil, which was the peak year earnings before the disastrous effects of the 2008 financial meltdown hit......these San Diego Area Companies not only recouped the earnings they lost with the financial meltdown, but they also added another incredibly high 129% of earnings.

Below here are the Audited Net Income (Loss) From Continuing Operations for each of these 20 San Diego Area Companies in 2013, 2012, 2011, 2009, 2008 and in 2007:


2013 2012 2011 2009 2008 2007



Audited Audited Audited Audited Audited Audited


Most Net Net Net Net Net Net


Recent Income Income Income Income Income Income


FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
San Diego Area Company HQs
$ mils  $ 000s  $ 000s  $ 000s  $ 000s  $ 000s









…..Technology







 QUALCOMM   San Diego   Sep 13           6,845          5,283          4,555          1,592          3,160          3,303
 Cubic Corp   San Diego   Sep 13                 25                98                86                71                56                37
 ViaSat   Carlsbad   Mar 14                 (9)              (41)                  8                31                38                35
 ServiceNow   San Diego   Dec 13               (74)              (37)                10                (6)                (6)                (4)
 Leap Wireless   San Diego   Dec 13            (603)           (187)           (318)           (238)           (143)              (76)









…..Health Care







ResMed San Diego Jun 14              345              307              255              190              146              110
Illumina San Diego Dec 13              125              151                87                72                39           (287)
NuVasive San Diego Dec 13                  7                  2              (71)                  4              (28)              (11)
Cadence Pharmaceuticals San Diego Dec 13              (24)              (81)              (93)              (45)              (57)              (52)
DexCom San Diego Dec 13              (30)              (55)              (45)              (54)              (59)              (48)
ACADIA Pharmaceuticals San Diego Dec 13              (38)              (21)              (23)              (45)              (64)              (56)
Neurocrine Biosciences San Diego Dec 13              (46)                  5                38              (51)              (89)           (207)
Isis Pharmaceuticals Carlsbad Dec 13              (61)              (65)              (85)              (35)              (15)              (34)
Halozyme Therapeutics San Diego Dec 13              (83)              (54)              (20)              (58)              (49)              (24)









….Finance







Realty Income Escondido Dec 13              179              141              140              122              115              124
Encore Capital Group San Diego Dec 13                75                79                61                33                14                12
Bofl Holding San Diego Jun 14                56                40                29                21                  7                  4
BioMed Realty Trust San Diego Dec 13                47                16                42                60                63                72
Retail Opportunity Investments San Diego Dec 13                35                  8                10                (9)                  3                  2
American Assets Trust San Diego Dec 13                23                14                14                  5              (12)                (2)









…..Services







PriceSmart San Diego Aug 13                84                68                62                42                38                13
Jack in the Box San Diego Sep 13                83                68                86              131              118              125









Total all 22

         6,961          5,739          4,828          1,833          3,275          3,036









Annual % Earnings Increase






…..2013 Over 2009

280%




…..2013 Over 2007

129%





I found 43 Companies Headquartered in the San Diego Area in Google or Yahoo's superb Finance websites with current Total Stock Market Capitalizations of at least $100 mil and which also had their common stocks trading on each of the following three dates:

  • On December 31, 2007 during President Bush's second term.....before the 2008 financial meltdown
  • On March 6, 2009, very early in President Obama's first term, which was the lowest point for the US stock market due to the spillover effects resulting from the 2008 financial meltdown, and 
  • also on the most recent date October 10, 2014
I included in the 43 Companies 4 of them which were sold in 2014.

The historical stock prices of these companies were obtained from the following two excellent internet resources....  Google Finance and MarketWatch Big Charts.

These 43 San Diego Area Companies had their equally-company-weighted average stock market prices decline by a huge 47% from December 31, 2007 during President Bush's second Presidential term, to March 6, 2009, very early in President Obama's first term, which was the very lowest point for the overall stock market due to the spillover effects resulting from the disastrous 2008 Financial Meltdown.

But in the five years and seven months since March 6, 2009 through October 10, 2014, the equally-company-weighted average stock market prices of these same 43 San Diego Area Companies have increased by a very impressive 298%, especially impressive since there has been a stock market collapse in the most recent two weeks, particularly for smaller health care and technology stocks, which the San Diego Area has an abnormally high percentage of.
   
In addition, in the six years and nine months from December 31, 2007 before the 2008 financial meltdown to the most recent date October 10, 2014, the equally-company-weighted average stock market prices of these same 22 San Diego Area Companies have increased by an exceptional 71%...... yeah, these San Diego Area Companies have not just recouped what they lost with the 2008 financial meltdown, but also added another 71%.

Below here are the stock market prices of each of these 43 San Diego Area Companies on October 10, 2014, on March 6, 2009, and on December 31, 2007, along with the related Stock Market Price Percentage Changes:





Market Market Market





Price Price Price





% % %





Change Change Change


Market Market Market 3-6-09 12-31-07 12-31-07


Price Price Price to to to
San Diego Area Company HQs 10-10-14 3-6-09 12-31-07 10-10-14 3-6-09 10-10-14


$s $s $s


…..Technology





ServiceNow San Diego           56.47             5.00           10.29 1029% -51% 449%
Imageware Systems San Diego             2.05             0.21             1.51 876% -86% 36%
Entropic Communications San Diego             2.28             0.49             7.28 365% -93% -69%
Accelrys San Diego           12.51             3.24             7.53 286% -57% 66%
ViaSat Carlsbad           53.19           16.51           34.43 222% -52% 54%
QUALCOMM San Diego           71.22           33.63           39.35 112% -15% 81%
Cubic Corp San Diego           46.23           24.32           21.70 90% 12% 113%
Maxwell Technologies San Diego             7.29             5.09             8.27 43% -38% -12%
Cohu Inc Poway           10.11             7.36           15.30 37% -52% -34%
Leap Wireless San Diego           17.52           29.57           46.64 -41% -37% -62%







…..Health Care





ACADIA Pharmaceuticals San Diego           19.05             0.80           11.07 2281% -93% 72%
DexCom San Diego           32.42             3.31             8.83 879% -63% 267%
Illumina San Diego         144.02           31.98           29.63 350% 8% 386%
Neurocrine Biosciences San Diego           13.17             3.21             4.54 310% -29% 190%
Ligand Pharmaceuticals La Jolla           64.77           16.56           28.98 291% -43% 123%
TearLab San Diego             4.80             1.50             2.00 220% -25% 140%
ResMed San Diego           50.57           17.77           26.27 185% -32% 93%
Life Technologies Carlsbad           76.04           28.17           93.41 170% -70% -19%
Cadence Pharmaceuticals San Diego           13.98             5.83           14.86 140% -61% -6%
AMN Healthcare Services San Diego           11.00             4.89           17.17 125% -72% -36%
Quidel San Diego           20.98             9.55           19.47 120% -51% 8%
Orexigen Therapeutics La Jolla             5.36             2.63           14.25 104% -82% -62%
Isis Pharmaceuticals Carlsbad           24.70           12.13           15.75 104% -23% 57%
Halozyme Therapeutics San Diego             7.67             4.66             7.11 65% -34% 8%
Arena Pharmaceuticals San Diego             6.43             4.06             7.83 58% -48% -18%
Volcano San Diego           17.04           13.16           12.51 29% 5% 36%
NuVasive San Diego           33.43           26.57           39.52 26% -33% -15%
Alphatec Holdings Carlsbad             1.34             1.28             5.04 5% -75% -73%
MEI Pharma San Diego             6.06           21.00         173.40 -71% -88% -97%
Sequenom San Diego             2.32           13.15             9.55 -82% 38% -76%







…..Finance





Bofl Holding San Diego           65.67             4.51             7.15 1356% -37% 818%
Encore Capital Group San Diego           41.63             3.10             9.68 1243% -68% 330%
HomeFed Corp Carlsbad           46.50           16.00           62.00 191% -74% -25%
BioMed Realty Trust San Diego           20.26             6.98           23.17 190% -70% -13%
Realty Income Escondido           42.53           15.03           27.02 183% -44% 57%
Retail Opportunity Investments San Diego           14.89             9.50             9.17 57% 4% 62%
PICO Holdings La Jolla           19.91           20.35           33.62 -2% -39% -41%







…..Services





PriceSmart San Diego           85.32           16.05           30.06 432% -47% 184%
Jack in the Box San Diego           68.00           17.38           25.77 291% -33% 164%
Kratos Defense & Security Solutions San Diego             6.10             6.50           23.50 -6% -72% -74%







…..Other Sectors





Senomyx San Diego             7.04             1.54             7.49 357% -79% -6%
WD-40 Company San Diego           66.97           22.82           37.97 193% -40% 76%
Callaway Golf Carlsbad             6.94             5.89           17.43 18% -66% -60%







Average % Change all 43 San Diego Area Companies


298% -47% 71%

Further, the number of San Diego Area Company Initial Public Offerings (IPOs) since the beginning of 2009, or during the Obama Administration, with current stock market capitalizations of at least $100 mil was an incredibly high 22, more than half of the above 43 San Diego Area Companies with current stock market capitalizations of at least $100 and which had their common stock trading before 2009, or before the Obama Administration.  Clearly, as far as San Diego goes, Barack Obama is the IPO President.

Of these 22 IPOs, 15 were Health Care and 4 were Technology.

Even with the collapse of the stock market in the most recent two weeks, these 22 San Diego IPOs had an average stock market price appreciation of 48% from their Initial Offering Price for the short period of time their common stock has been trading.

Below here are these 22 San Diego Area IPOs filed during the Obama Administration:







%








Market








Price






10-10-14
Change






Stock Initial From
IPO San Diego Area Company IPO City CA

Market Offering Offering
Date Under Obama HQs Area Sector Industry Price Price Price





$ $









5/9/13 Receptos  San Diego SD Health Care Biotechnology 59.52 14.00 325%
6/29/12 ServiceNow   San Diego SD Technology Information Technology Services 56.47 18.00 214%
8-3-10 Trius Therspeutics San Diego SD Health Care Drug Manufacturers 14.00 5.00 180%
2/5/14 Auspex Pharmaceuticals   San Diego SD Health Care Major Drug Manufacturers 24.10 11.00 119%
5/16/13 Ambit Biosciences  San Diego SD Health Care Biotechnology 15.46 8.00 93%
1/13/11 American Assets Trust  San Diego SD Financial REIT-Retail 34.41 20.50 68%
10/4/12 Regulus Therapeutics  San Diego SD Healthcare Biotechnology 6.34 4.00 59%
5/28/10 GenMark Diagnostics  Carlsbad SD Healthcare Medical Appliances & Equipment 9.08 6.00 51%
8-13-14 Otonomy San Diego SD Health Care Pharmaceutical Preparations 21.72 16.00 36%
4/4/11 Ocera Therapeutics San Diego SD Healthcare Biotechnology 5.18 4.00 30%
1/30/14 Celladon  San Diego SD Health Care Biotechnology 9.47 8.00 18%
7-24-14 Pfenex San Diego SD Health Care Biotechnology 6.80 6.00 13%
4-17-14 Vital Therapies San Diego SD Health Care Biotechnology 13.58 12.00 13%
7/25/13 Conatus Pharmaceuticals  San Diego SD Health Care Biotechnology 11.83 11.00 8%
4/14/09 Bridgepoint Education  San Diego SD Services Education & Training Services 11.10 10.50 6%
5-24-11 Active Network San Diego SD Technology Application Services 14.49 15.00 -3%
8/8/12 Peregrine Semiconductor  San Diego SD Technology Semiconductor-Integrated Circuits 12.37 14.00 -12%
10/1/13 Fate Therapeutics   San Diego SD Health Care Biotechnology 5.23 6.00 -13%
4/23/10 Excel Trust  San Diego SD Financial REIT-Diversified 12.09 14.00 -14%
11/14/13 Tandem Diabetes Care  San Diego SD Health Care Medical Instruments&Supplies 12.93 15.00 -14%
3/24/10 MaxLinear  Carlsbad SD Technology Semiconductor Equipment&Matls 6.38 13.00 -51%
11/23/10 Zogenix  San Diego SD Healthcare Drug Manufacturers-Major 1.20 4.00 -70%










Average % Change all 22





48%




More details to come.