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* San Francisco-based BankAmerica Corp. may sell its majority stake in First Franklin Financial Corp., a mortgage company that specializes in lending to consumers with flawed credit records, sources said. BankAmerica hired UBS Securities to explore the sale of its approximately 80% share of San Jose-based First Franklin, which makes home loans through mortgage brokers, the sources said.

* Torrance-based Total Renal Care Holdings Inc. reported fourth-quarter earnings of $10.4 million, or 23 cents per share, compared with $7.2 million, or 16 cents, a year ago.

* Los Angeles-based K2 Inc. reported fourth-quarter net income of $4.3 million, or 26 cents per share, compared with $6.31 million, or 38 cents, a year ago.

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* Burlingame-based Gymboree Corp. reported fourth-quarter net income, including a charge, of $11.1 million, or 46 cents per share, compared with $10 million, or 39 cents, a year ago.

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