Wells expects protests at annual meeting
Wells Fargo is bracing for protests at its annual shareholders meeting Tuesday in San Francisco, where the bank has its head offices.
A flier posted by a group called Cal Organize promises a morning and afternoon of protests at the Merchants Exchange Building on California Street in San Francisco, the site of the shareholders meeting.
"Wells Fargo profits at the cost of our communities," according to an online flier linked to the Cal Organize website. Over the 12 months that ended in March, Wells Fargo earned $16.36 billion and generated revenue of $88.45 billion. The profit was a record for any one-year period for the bank, according to data supplied by Bloomberg News.
Bank officials said they were aware of the planned protests and were preparing for demonstrations.
"We respect the right of Americans to peacefully assemble," said Ruben Pulido, a Wells Fargo spokesman. "Our focus is to protect the safety of our customers, team members and shareholders."
Ultra Clean profit, sales slump
Hayward-based Ultra Clean Holdings earned $4.7 million on sales of $110.6 million for its first quarter, the semiconductor equipment company reported.
Compared with the year-ago quarter, profit fell 19 percent and revenue fell 12.7 percent.
Zipcar cruises into downtown San Jose
San Jose is the latest Bay Area urban center to gain the Zipcar vehicle-sharing network.
Massachusetts-based Zipcar has launched service with 12 vehicles in six locations around San Jose. All of the vehicles are in off-street lots in the downtown area.
Volterra sales, profit jump in first quarter
Fremont-based Volterra Semiconductor reported record sales and profit that more than doubled in its first quarter.
Volterra earned $6.2 million on sales of $42.1 million. Compared with the year-ago quarter, profit soared 131 percent and revenue jumped 23 percent.
IntegenX closes deal to bolster fast ID of DNA
Pleasanton-based IntegenX has bought SV, a subsidiary of GE Healthcare Bio-Sciences, which itself is a unit of General Electric.
IntegenX said its purchase will help it accelerate commercialization of its system for rapid identification of human DNA.
Terms weren't disclosed.