Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Ad Shop Raises $5.2 Million

Adaptive Medias Inc. raised $5.2 million from two investors by selling 2.13 million shares of its common stock at $2.25 per share.

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Windjammer Sells Auto Parts Maker

Newport Beach-based buyout firm Windjammer Capital Investors has agreed to sell its portfolio company BBB Industries LLC to an investment firm in London.

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Avanir Shares Up on Positive Trial Data

Aliso Viejo-based Avanir Pharmaceuticals Inc.’s shares rose today on positive clinical trial results for a potential Alzheimer’s disease treatment.

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Fullerton Shopping Center Sells for $48.5M

A Chinese real estate investor has bought Amerige Heights Town Center, a 163,514-square-foot retail center in Fullerton.

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Federal Judge Grants Allergan Injunction Hearing Request

Allergan Inc. said today that a federal judge has set an Oct. 28 hearing for a preliminary injunction against hostile suitors Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP.

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Allergan to Cut 129 Irvine Jobs

Irvine-based Allergan Inc. has filed papers with state officials saying it will lay off 129 employees.

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Oculus Co-founder Gives $31M

The cofounder and chief executive of Irvine-based Oculus VR Inc. has pledged $31 million to the University of Maryland-College Park to build a new computer science building focused on virtual reality, according to a report.

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RSM Smoothie Seller Plans 58 Locations

Bowl of Heaven plans to add 58 new franchised locations in Orange County, Los Angeles, San Diego, San Francisco and Las Vegas, the company said.

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Midday Stock Roundup

The S&P 500 fell 0.22% to 1,981.24 in midday trading.

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Federal Judge Grants Allergan Injunction Hearing Request

Allergan Inc. said today that a federal judge has set an Oct. 28 hearing for a preliminary injunction against hostile suitors Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP.

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Allergan to Cut 129 Irvine Jobs

Irvine-based Allergan Inc. has filed papers with state officials saying it will lay off 129 employees.

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Oculus Co-founder Gives $31M

The cofounder and chief executive of Irvine-based Oculus VR Inc. has pledged $31 million to the University of Maryland-College Park to build a new computer science building focused on virtual reality, according to a report.

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Midday Stock Roundup

The S&P 500 fell 0.56% to 1,986.26 in midday trading.

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PE Firm Invests in Propane Engine Maker

Newport Beach-based private equity firm Solis Capital Partners LLC has made an equity investment in LEHR Inc., a manufacturer of propane-powered engines and tools for home and commercial uses.

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Innocean Lands Energy Account

InnoceanUSA has branched beyond mainstay client Hyundai Motor America Inc. with the addition of NRG Energy to its growing roster of nonautomotive accounts.

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Midday Stock Roundup

The S&P 500 fell 0.11% to 1,993.56 in midday trading.

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Wet Seal Up On Upgrade Despite Sales Drop

Shares of the Wet Seal Inc. were up 9% in midday trading on an analyst upgrade despite disappointing quarterly numbers.

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Telogis Gets Funding From VC Firm of Ford Motor Chairman

Aliso Viejo-based software maker Telogis Inc. has secured a strategic investment from a Detroit venture capitalist firm co-founded by William Clay Ford Jr., the executive chairman of Ford Motor Co. and the son of the owner of the Detroit Lions.

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Wet Seal Shares Fall on Q2 Loss

Shares of the Wet Seal Inc. tumbled 11% to 60 cents and a market value of $51.2 million in after-hours trading on Wednesday after the teen and contemporary retail chain reported a bigger-than-expected second quarter loss.

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Startup Raises $5M, Enters VR Deal

A Laguna Beach startup that specializes in virtual reality content has raised $5 million from private investors and entered a partnership with Oculus VR Inc. and Samsung in one of the latest developments to hit technology’s hottest emerging consumer segment.

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Microsemi Makes Small Buy

Aliso Viejo-based Microsemi Corp. announced an agreement today to purchase a Santa Rosa chipmaker and also revealed plans to repurchase up to $100 million of its common stock.

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UCI Merage School Debuts in U.S. News Ranks

The University of California-Irvine Paul Merage School of Business is ranked No. 39 in the country for best undergraduate business programs, according to U.S. News and World Report.

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Midday Stock Roundup

The S&P 500 rose 0.25% to 1,993.38 in midday trading Wednesday.

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J.Jill to Open in South County

J.Jill Group Inc. is set to open a store at the Shops at Mission Viejo this winter.

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Alphaeon Buys Canadian Company

Newport Beach-based Alphaeon Corp. said today that it is buying Clarion Medical Technologies Inc., a Canadian aesthetic medicine company.