Former Hawaii brand Dakine sold to Altamont

The Dakine brand of action sportswear and outdoor accessories is being purchased by California-based Altamont Capital Partners.

Altamont announced its agreement to acquire the brand from Australian-based Billabong International Ltd. for undisclosed terms Tuesday. Billabong acquired Dakine in 2008.

The Dakine purchase comes during the recapitalization of Billabong, which is being led by Altamont as well as GSO Capital Partners.

Altamont is a private investment firm based in the San Francisco Bay Area.

Dakine was founded in Hawaii in 1979 by Rob Kaplan but in recent years has been based in Oregon.

Blue Startups seeks business applicants

Hawaii-based technology accelerator Blue Startups is accepting applications from a second round of startup companies.

The company provides investment capital and mentorship to fledgling Hawaii companies and is led by Blue Planet Software founder and Tetris sole agent Henk Rogers.

The first eight businesses collectively attracted more than $3 million in investment capital and "outperformed our expectations," Rogers said in a statement.

Blue Startups is seeking companies focused on Internet, software, mobile, gaming and e-commerce ventures, and will accept up to 10 companies.

The application deadline is July 31. Details can be found at www.blue­start­ups.com.

Banks raise $92,000 for Hawaii Foodbank

The Hawaii Bankers Association raised more than $92,000 and collected more than 38,000 pounds of food during the HBA Foodbank Food Drive from April 15 to May 31.

More than 275 bank branches statewide collected food and monetary donations.

Last year the Hawaii Foodbank distributed more than 12 million pounds of food, including 4.4 million pounds of fresh produce, to those needing emergency food assistance in Hawaii.

The financial institutions that participated in the food drive include American Savings Bank, Bank of Hawaii, Bank of the Orient, Central Pacific Bank, Finance Factors, First Hawaiian Bank, Hawaii National Bank, Home Street Bank, Ohana Pacific Bank, Pacific Rim Bank and Territorial Savings Bank.

Yahoo earnings rise but revenues decline

SAN FRANCISCO » Yahoo remained stuck in a revenue rut during the second quarter, muting the celebration of CEO Marissa Mayer’s first year running the Internet company.

The numbers released Tuesday showed Yahoo Inc.’s earnings are still rising, but they also highlighted the challenges facing the Sunnyvale, Calif., company as it loses ground to rivals Google Inc. and Facebook Inc. in the online advertising market that generates most of their revenue.

Wall Street took note of Yahoo’s earnings gains. The company’s stock rose 7 cents to $26.95 in after-hours trading after the report came out.

Goldman’s profit doubles; questions loom

NEW YORK » Goldman Sachs said Tuesday that its second-quarter profit doubled and revenue jumped 30 percent, helped by gains in stock and bond underwriting and the bank’s own investments.

But the hot topic for analysts who follow the bank was a set of impending capital rules and how they might affect the powerful New York investment bank.

Goldman’s stock rose in pre-market trading after the bank released its earnings results with rosy headline numbers. But it dipped moments after the market opened, just as Chief Financial Officer Harvey Schwartz faced a barrage of questions about the capital rules and other hard-to-predict factors that could affect the bank’s future earnings, including how clients might react to rising interest rates.

Capital requirements have been the topic du jour as big financial companies have reported second-quarter earnings over the past few days.

The consternation started last week, when U.S. regulators said they were considering requiring big U.S. banks to hold greater amounts of capital. Regulators in the U.S. and around the world have been raising capital requirements since the financial crisis, saying they will give banks a cushion in troubled times.

Banks have protested, saying it will put them at a disadvantage to international peers and constrain them from lending.

Johnson & Johnson profit jumps

Johnson & Johnson’s second-quarter profit more than doubled, due to lower charges and higher sales of medicines and some medical devices, but the world’s most diverse maker of health products said it expects slower growth in the second half of the year.

It easily beat Wall Street expectations for the quarter and raised its 2013 profit forecast slightly.

J&J, based in New Brunswick, N.J., said sales growth is slowing and competition is increasing for its devices and prescription drugs. It’s had to lower prices for some of those products due to pressure from government and other buyers, increasing competition and "soft" retail markets, as many consumers continue to pinch pennies amid lingering effects of the Great Recession.

ON THE MOVE

MakenaBeach & Golf Resort has appointed RandyParker new director of sales. He has more than 20 years of experience in the industry and hospitality field, including as director of sales and marketing at various Loews Hotels in Texas, the Fairmont Dallas in Texas, the Loew Ventana Canyon in Tuscon, Ariz., and the Fairmont Orchid on the Kohala Coast of Hawaii island.

First Hawaiian Bank has promoted Lynn Wong to vice president and manager in the bank’s consumer credit center. She has more than 30 years of banking experience, including beginning her career with FHB as a personnel interviewer, and was previously supervisor as well as manager of FHB’s Consumer Credit Center.

Coldwell Banker Pacific Properties has announced that Dennis D.I. Ryan has joined its Leeward office as a Realtor associate. Before joining CBP, Ryan was a Realtor associate at Dempsey West Realtors. He also worked at the Army’s Department of Public Works and Army Corps of Engineers and served in the Naval Reserves.