Chevron to drill in Sierra Leone field

San Ramon-based Chevron has been awarded participation in two deepwater energy fields off the African nation of Sierra Leone.

Through its Chevron SL unit, Chevron will be able to explore and develop two blocks that have a combined area of 2,100 square miles.

The blocks are about 75 to 110 miles from the nation's capital, Freetown. The average water depths range from 4,900 to 9,800 feet.

Synnex tumbles on weak outlook

Shares of Fremont-based Synnex plunged 5.3 percent Wednesday after the technology services firm offered a disappointing outlook to Wall street.

After the markets had closed Tuesday, Synnex reported profit and sales in line with analysts' projections.

However, the company forecast earnings ranging from $1.02 to $1.06 a share on revenue ranging from $2.71 to $2.81 billion. Analysts had predicted a profit of $1.16 a share on sales of $2.86 billion.

Synnex fell $1.80 and finished at $32.45.

Umpqua Bank will open in downtown San Jose

Umpqua Bank plans a flagship branch in downtown San Jose through a lease of space on Santa Clara Street near Almaden Boulevard.

The new location will provide community banking, home lending and commercial banking services.

Umpqua leased 6,900 square feet on two floors at 225 W. Santa Clara St. The build-out of the space should be complete during the January-March period of 2013.

The bank's new location in San Jose will include Umpqua's store design on the ground floor, including an interactive Discover Wall showcasing information about financial tools, products and community events; a computer cafe and free Wi-Fi; and a phone with a direct line to the bank's CEO.

Ikanos regains Nasdaq compliance

Fremont-based Ikanos Communications has regained compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.

Previously, in December, Nasdaq had notified Ikanos that the bid price for the company's stock had closed below the minimum $1.00 a share requirement over the previous 30 consecutive business days, which placed it out of compliance with Nasdaq rules.

On Wednesday, Nasdaq told Ikanos that it had been at $1.00 a share for at least 10 consecutive business days, putting the company bank within the listing requirement.

-- Staff