Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Midday Stock Roundup

The S&P 500 was down 0.13% to 2,070.07 in midday trading.

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JWA Traffic Up in October

Airline passenger traffic at John Wayne Airport increased 2.6% in October compared with a year earlier, the airport said.

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JWA Named to Condé Nast List

John Wayne Airport was named the fifth best airport in the country by readers of Condé Nast Traveler, the magazine said.

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U.S. Hyundai Division Loses Marketing Head

Hyundai Motor America Inc. in Fountain Valley is looking for a new marketing chief after former Vice President of Marketing Steve Shannon left in mid-November.

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OCADA: October Auto Sales Up 6.5%; Prediction for 2015

October sales of new vehicles at Orange County auto dealers increased 6.5% year-over-year to 12,869, according to the Orange County Automobile Dealers Association.

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Midday Stock Roundup

The S&P 500 rose 0.13% to 2,069.63 in midday trading.

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Fed Lifts Enforcement Action on Pac Merc

The Federal Reserve Board has terminated its enforcement action with Costa Mesa-based Pacific Mercantile Bancorp.

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Irvine-Based Cafe to Open Third Site

Irvine-based Java Bakery Café plans to open its third location in Lake Forest on Saturday, with a fourth to follow in Mission Viejo in January and a fifth in Corona del Mar later in 2015, the company said.

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Midday Stock Roundup

The S&P 500 rose 0.1% to 2,070.87 in midday trading.

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Wet Seal Taps L.A. Investment Bank, Tilly’s Vet

Wet Seal Inc. has hired Houlihan Lokey Capital in Los Angeles and former Tilly's Inc. executive William Langsdorf to “identify and analyze potential strategic and financial alternatives.”

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Midday Stock Roundup

The S&P 500 rose 0.2% to 2,067.34 in midday trading.

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NB Company Gets More Money to Build Hydrogen Stations

FirstElement Fuel Inc. will receive a $13.8 million loan from American Honda Motor Co. Inc. in Torrance to build 12 additional hydrogen fueling stations in the state.

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Gross-Managed Fund Gets $500M from Soros

Billionaire hedge fund manager George Soros has put $500 million in a fund managed by Bill Gross at Janus Capital Group Inc.

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Valeant, Ackman Cash Out of Allergan

Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP have slashed their stake in Irvine-based Allergan Inc. after losing a bidding war to Actavis PLC.

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Community Colleges Seek to Offer Bachelor’s Degrees

Three Orange County Community College Districts have submitted letters of intent to offer bachelor’s degrees in some subjects, according to the California Community Colleges Chancellor’s Office.

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Midday Stock Roundup

The S&P 500 rose 0.36% to 2.060.19 in midday trading.

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OC Adds 15,800 Jobs, Unemployment Falls to 5%

Orange County employers added 15,800 jobs in October, helping push down the unemployment rate to 5%.

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NB Title Company Acquired for $36M

Newport Beach-based title insurance company Experience 1 Inc. has been acquired by Solutionstar Holdings LLC for $36 million in cash.

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Wet Seal Inc. Names Interim CFO

Wet Seal Inc. named Thomas Hillebrandt its interim chief financial officer.

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SEC Suspends Trading of Penny Stock

The U.S. Securities and Exchange Commission said today that it halted trading in Anaheim-based Wholehealth Products Inc. and three other penny stock companies that “claim to be developing products and services in response to the Ebola [virus] outbreak.”

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Universal Protection Buys Guard Services Firms

Universal Protection Service in Santa Ana has acquired two guard services companies on undisclosed terms.

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Midday Stock Roundup

The S&P 500 rose 0.13% to 2,051.34 in midday trading.

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Corinthian to Sell 56 Campuses to NonProfit

Santa Ana-based for profit schools operator Corinthian Colleges Inc. said it will sell 56 campuses of its Everest College and WyoTech to Zenith Education Group Inc., an affiliate of Oakdale, Minn.-based student loan guarantor agency ECMC Group.

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Henrik Fisker, Galpin Ford Team Up on Muscle Car

Henrik Fisker is expected to announce plans for a new muscle car with a body made of carbon fiber during an appearance at the Los Angeles Auto Show today.

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Habit Goes Public

Irvine-based Habit Restaurants Inc. went public on Nasdaq this morning priced at $18 a share and has doubled in price to about $36.