March 15
AGRICULTUREÂ
Newport Beach-based American Vanguard Corp. (NYSE: AVD), an agricultural products maker, rose 19% to $12.60 per share for a market cap of $362 million. The company yesterday reported earnings of 25 cents per share in the fourth quarter up from earnings of 13 cents a year ago, and n line with the Zacks Consensus Estimate. Revenues were $172.2 million for the quarter, up around 8% year over year, but they missed slightly the Zacks Consensus Estimate of $172.7 million.
RETAIL
Specialty apparel retailer Tilly’s Inc. (NYSE: TLYS) fell 5.3% to $6.82 per share for a market cap of $204 million. The Irvine-based company said yesterday that fourth-quarter net sales decreased by 4.1% to $173 million, while the net loss for the period was $20.6 million.
INDEXES
The Nasdaq fell 1.1% to 15,949.12.
—Kevin Costelloe
—
March 11
HEALTHCARE
Staar Surgical Co. (Nasdaq: STAA) rose 9.8% to $39.36 with a market cap of $1.4 billion. Shares of the Lake Forest-based lens maker were up after Stifel analyst Thomas Stephan upgraded Staar’s rating to Buy from Hold with a price target of $50, up from $30.
Stifel said the company’s shares have pulled back notably since late 2022 “as investor excitement toward EVO’s domestic opportunity has deteriorated,” The Fly reported. Stephan believes the company’s “conservative” 2024 guidance, U.S. EVO “green-shoots,” and a trough valuation can allow investors to “weather these storms, at discounted prices for a differentiated asset/technology.”
Santa Ana-based NKGen Biotech Inc. (Nasdaq: NKGN) jumped 15% to $2.51 apiece and a $54 million market cap. Shares of the biotech firm have tripled since last week when it announced the upcoming data presentation at the Tau2024 Global Conference in Washington, D.C. at the end of March.
–Emily Santiago-Molina
March 8
ENGINEERING
Anaheim-based engineering firm Willdan Group (Nasdaq: WLDN) rose 26% to $24.94 per share for a market cap of $340 million after a strong earnings report yesterday. Wedbush Securities raised the firm’s price target on Willdan to $30 from $25 and has kept the outperform rating on the shares. Willdan reported “blowout” fourth quarter results, while providing conservative 2024 guidance, and Wedbush believes recent deal flow and pipeline conversion will ultimately result in strong net revenue growth throughout 2024, the analyst tells investors in a research note according to the website The Fly.com.
Irvine-based chip company Mobix Labs (NASDAQ: MOBX) fell 25% to $1.31 per share, close to the lowest since the company went public in December, for a market cap of $34 million.
The price for a barrel of oil fell 1.2% to $78.02
Gold rose 1.6% to $2,200.30.
—Kevin Costelloe
—
March 7
BIOTECH
Avid Bioservices Inc. (Nasdaq: CDMO) fell 30% to $6.14 and a $390 million market cap. The Tustin-based drug contract manufacturer yesterday reported third-quarter revenue decreased 11% to $33.8 million. Analysts on average expected $41.6 million.
HEALTHCARE
MDxHealth SA (Nasdaq: MDXH) declined 14% to $3.20 and a $98 million market cap. The Irvine-based maker of noninvasive prostate tests today reported $19.4 million in fourth-quarter revenue, which beat analysts’ expectations. Even though it beat estimates, the company reiterated a prior forecast for revenue between $79 million to $81 million for 2024 and adjusted profitability for the first half of 2025.
MARKETS
The Nasdaq rose 1.4% to 16,255.12.
–Yuika Yoshida
March 6
BIOTECH
Shares of Santa Ana-based NKGen Biotech Inc. (Nasdaq: NKGN) soared 256% to $3.29 and a $72 million market cap. Volume was 79 million shares compared to the daily average of 92,000; it has 13.4 million shares outstanding. The company, which focuses on “natural killer” cell therapies to treat cancers and neurodegenerative diseases, announced on March 4 that its abstract for presentation on the effects of its cell therapy will be presented at the Tau2024 Global Conference March 25-26 in Washington D.C.
TECHNOLOGY
Skyworks Solutions Inc. (Nasdaq: SWKS) increased 6.2% to $106.52 and a $17.1 billion market cap. Shares of the Irvine-based chipmaker are now up 25% since early November when it reported fiscal fourth-quarter results.
INSURANCE
Orange-based Alignment Healthcare Inc. (Nasdaq: ALHC) fell 4.7% to $5.22 and a $991 million market cap. The provider of Medicare Advantage insurance plans was downgraded to neutral from overweight at Piper Sandler, which cut its target price in half to $6 from $12, according to the website The Fly.com.
MARKETS:
Oil rose 2.4% to $80.02 a barrel.
                                                   –Peter J. Brennan
March 5
DEFENSE
Shares in Terran Orbital Corp. rose 5% to $1.24 apiece for a market cap of $242 million. Terran (NYSE: LLAP), with the bulk of its operations in Irvine, said today it was awarded a $15.2 million contract to supply Ambassador Class satellite platforms to the Air Force Research Laboratory for U.S. Space Force missions. The company has also received a buyout offer from Lockheed Martin reportedly worth nearly $600 million.
ADVERTISING
Digital ad tech company Viant Technology Inc. (Nasdaq: DSP) rose 6.5% to $9.78 per share for a market cap of $612 million.  Viant said yesterday that fourth-quarter revenue jumped 18% to $64.4 million, while the company turned a $3.3 million profit, topping analysts’ expectations of a loss.
INDEXES
The Nasdaq fell 1.5% to 15,970.52.
The yield on a 10-year Treasury bond was down 1.6% to 4.15%.
                                                                                           –Kevin Costelloe
March 4
AEROSPACE
Terran Orbital Corp. (NYSE: LLAP) rose 13% to $49.63 with a market cap of $237 million. The board of the Boca Raton, Fl.-based satellite maker, with significant operations in Irvine, has adopted a stockholder rights plan following a proposal from Lockheed Martin Corp. to acquire all outstanding shares of Terran’s common stock for cash.
For more on Terran Orbital, see the March 4 print edition of the Business Journal.
RETAIL/FITNESS
Irvine-based Xponential Fitness Inc. (NYSE: XPOF) was off 9.9% to $12.66 apiece and a $598 million market cap. Analyst firm Citi lowered its target price for the fitness chain franchisor from $23 to $21 on Monday.
Last Friday, Xponential climbed 44% to $14.48 a share after reporting fourth quarter and full-year revenues that beat the analyst consensus estimate.
INDEXES
Oil is down 1.4% to $78.83 per barrel.
Gold increased 1.4% to $2,125.30.
The yield on a 10-year Treasury bond rose 1% to 4.219%.
–Emily Santiago-Molina
March 1
RETAIL
Xponential Fitness Inc. (NYSE: XPOF) climbed 44% to $14.48 a share and a $693 million market cap. The Irvine-based boutique fitness franchisor yesterday reported fourth quarter and full-year revenue that beat the analyst consensus estimate. Trading volume for Xponential today is nearly six times the daily average.
TECHNOLOGY
Interlink Electronics Inc. (Nasdaq: LINK) rose 10% to $12.26 a share and a $80.2 million market cap. The Irvine-based sensor maker today said it will issue a 50% common stock dividend on March 22 to its stockholders of record as of March 11.
INDEXES
The Nasdaq increased 1.1% to 16,264.33.
Crude oil jumped 2.3% to $80.09 a barrel.
Gold rose 2% to $2,094.90 an ounce.
The yield on a 10-year treasury bond fell. 1.2% to 4.199%.
–Kaitlin Aquino
Feb. 29
ENVIRONMENTAL
Montrose Environmental Group Inc. (NYSE: MEG) rose 24% to $40.92 and a $1.2 billion market cap. The environmental consulting firm, with much of its operations based in Irvine, today reported fourth-quarter revenue of $165.7 million, surpassing analysts’ expectations of $157.3 million.
HEALTHCARE
Inari Medical Inc. (Nasdaq: NARI) fell 19% to $47.21 and a $2.7 billion market cap. Shares in the Irvine-based medical device company hit a 52-week low of $46.59 after reporting a loss of 8 cents per share in yesterday’s fourth-quarter results, missing the Zacks consensus estimate of 1 cent per share.
–Yuika Yoshida
Feb. 28
HEALTHCARE
ICU Medical (Nasdaq: ICUI), the San Clemente-based supplier of infusion therapy-related medical equipment, rose 6.7% to $113.98 per share for a market cap of $2.8 billion. The company yesterday reported adjusted fourth-quarter earnings of $1.57 per share, beating analysts’ estimates, while revenue for the period was 4% above estimates.
Orange’s Alignment Healthcare Inc. (Nasdaq: ALHC), which sells Medicare Advantage insurance to seniors, fell 20% to $5.56 per share for a market cap of $1.1 billion a day after posting earnings that included a net loss of $148.2 million for the full year 2023. “Alignment Healthcare posts loss despite Medicare Advantage enrollment that’s on the rise,” Forbes magazine said after the earnings release.
—Kevin Costelloe