Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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El-Erian Backs Costa Mesa Startup

Mohamed El-Erian, former chief executive of Pacific Investment Management Co., has joined Costa Mesa-based startup Payoff Inc. as an investor and board member.

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Midday Stock Roundup

The S&P 500 rose 0.33% to 1,957.24 in midday trading.

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Kareo Raises $15M

Irvine-based Kareo Inc. said today that it received $15 million in mezzanine debt financing, bringing its total capital raised this year to $47 million.

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Pac Merc Narrows Q3 Loss

Costa Mesa-based Pacific Mercantile Bancorp narrowed its third-quarter loss to $693,000, versus a loss of $1.4 million in the same quarter a year earlier.

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Edwards Beats Estimates

Irvine-based Edwards Lifesciences Corp. after markets closed Thursday posted third-quarter financial results that exceeded expectations, and the stock continued to rise on Friday.

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BJ’s Up on Q3

Shares of Huntington Beach-based BJ’s Restaurants Inc. rose sharply after hours Thursday on third-quarter results, and continued to rise in midday trading Friday.

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Ingram Improves Margins

Santa Ana-based Ingram Micro Inc. today reported third-quarter revenue that beat Wall Street expectations and adjusted profits in line with estimates.

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Telogis in Deal with Isuzu Unit in Anaheim

Aliso Viejo-based Telogis Inc. didn’t have to go far to land its latest software deal with a major automaker.

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Irvine Renewables Energy Firm to Get $270M Loan from China

The Export-Import Bank of China has signed a letter of intent to provide a loan of up to $270 million to BlueFire Renewables Inc., an Irvine-based renewable fuels company.

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UCI Shares in $8M Stem Cell Grant

University of California-Irvine announced it will conduct clinical trials for stem cell treatment in partnership with University of California-Los Angeles under an $8 million grant.

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Midday Stock Roundup

The S&P 500 rose 1.6% to 1,957.95.

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First Foundation to List on Nasdaq

Shares of Irvine-based First Foundation Inc. will start trading on the Nasdaq exchange next month.

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JWA Passenger Counts Up

John Wayne Airport reported a 4.3% increase in its number of passengers in September compared with the same month last year.

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RSM Pizza Chain Expands in California

Rancho Santa Margarita-based Pieology Pizzeria plans seven new locations in Northern and Central California by the end of 2014.

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Mazda New SXSW Sponsor

Mazda North American Operations has signed on as the official automobile sponsor of the South by Southwest Music Conference and Festival in Austin, Texas for the next three years.

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Quarterly Profit Up for CalFirst Bancorp

Irvine-based California First National Bancorp reported net income of $2.5 million in the September quarter, an increase of about 34% from the same time a year earlier.

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Acacia Up on Strong Q3

Shares of Acacia Research Corp. surged in afterhours trading yesterday and stayed strong Thursday after the Newport Beach-based company reported revenue and adjusted profits in the third quarter that were well beyond Wall Street expectations.

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Broadcom Reports Better-Than-Expected Quarter

Irvine-based chipmaker Broadcom Corp. after markets close yesterday reported third-quarter revenue and adjusted profits that beat Wall Street expectations.

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Midday Stock Roundup

The S&P 500 declined 0.29% to 1,935.71.

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Pacific Premier Acquires Independence Bank

Irvine-based Pacific Premier Bancorp Inc. has agreed to pay $71.5 million to acquire Independence Bank in Newport Beach.

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Kia Hires Multicultural Ad Shop

Kia Motors America has hired a Chicago-based advertising agency to help drive its “U.S. multicultural communication strategy as well as diversity and inclusion efforts internally and externally.”

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Kia Hires Multicultural Ad Shop

Kia Motors America has hired a Chicago-based advertising agency to help drive its “U.S. multicultural communication strategy as well as diversity and inclusion efforts internally and externally.”

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Plaza Bank Q3 Profit Dips on Lower Noninterest Income

Irvine-based Plaza Bank reported $1.4 million in net income for the third quarter, down about 2% from the same time a year ago.

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Another Double-Digit Sales Gain for Vans

Vans Inc.’s revenue rose 12% in the third quarter, a 20th consecutive reporting period with double-digit gains for the Cypress-based unit of VF Corp. in Greensboro, N.C.

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Broadcom Reports Better-Than-Expected Quarter

Irvine-based chipmaker Broadcom Corp. today reported third-quarter revenue and adjusted profits that beat Wall Street expectations.