Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Midday Stock Roundup

The S&P 500 was up 0.1% to 2,058.19 in midday trading.

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Mooney Out, McKnight Back to Quiksilver Chair

Quiksilver Inc. shares were down 12% to $1.95 and a market value of about $330 million in midday trading Friday as the news spread of the shakeup in the company’s top echelons.

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UCI Stem Cell Researcher Gets $5M

A University of California-Irvine researcher has been awarded $5 million to develop stem cell treatments for Huntington’s disease, the university said.

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Ruby’s Founder Steps Back

Doug Cavanaugh has stepped back from day-to-day operations at Irvine-based Ruby Restaurant Group, the retro burger chain he founded 33 years ago.

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Midday Stock Roundup

The S&P 500 was up 0.2% to 2,065.75 in midday trading.

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PE Firm Backs Water Treatment Company

Anaheim Hills-based investment firm Metrix Capital Group LLC has provided an undisclosed amount of growth capital to Superior Water Technologies Inc. in Irvine.

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PacSun Results Up, Shares Down

Pacific Sunwear of California Inc. beat analysts’ expectations for the fourth quarter, which ended Jan. 31, before its stock fell about 2% to $2.82 and a market value of about $195 million in midday trading Thursday

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Midday Stock Roundup

Major stock indices declined in midday trading on a market sell-off in technology stocks.

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Kofax Sells for $1B

Shares of Kofax Ltd. soared in midday trading today to a market value of about $960 million after the Irvine-based software maker said yesterday it would be sold for $1 billion to Lexmark International Inc. in Lexington, Ky.

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Kia to Sell Soul EV Beyond California

Irvine-based Kia Motors America Inc. will start selling its Soul EV in Georgia, Texas, Oregon, Washington and Hawaii, a move that comes a few months after the launch of the electric vehicle in California.

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Kofax Sells for $1B

Shares of Kofax Ltd. soared in afterhours trading today after the Irvine-based software maker announced it would be sold for $1 billion to Lexmark International Inc. in Lexington, Ky.

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Auto Dealer Sales Up in 2014

Automotive dealers in Orange County combined for $11 billion in sales last year, a 10% increase over 2013, according to the Newport Beach-based Orange County Automobile Dealers Association’s 2014 Economic Impact Report.

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Midday Stock Roundup

The S&P 500 was down 0.3% to 2,098.22 in midday trading.

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Dana Point Cloud Company Sold for $25M

Dana Point-based communications company SimpleSignal Inc. has agreed to sell for $25.3 million to Vonage Holdings Corp., a Holmdel, N.J.-based provider of telephone services via broadband connection.

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Taco Bell Considers Design, Delivery

Irvine-based Taco Bell Corp. said it plans to test new store designs as well as food delivery, according to trade journal Nation’s Restaurant News.

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OC Adds Jobs; Unemployment Down

Orange County added 14,600 jobs in February, helping drive down the unemployment rate to 4.6% from a revised 5% in January.

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Jobless Rate Up on Revised Data

Orange County’s unemployment rate ticked up to 5% as an annual revision by the U.S. Department of Labor showed 21,200 fewer jobs in January than in December, for a total of 1,510,700.

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Midday Stock Roundup

The S&P 500 was up 0.1% to 2,109.91 in midday trading.

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Levy Invests $120M in Del Taco

A group led by Chicago restaurateur Larry Levy has invested $120 million in Lake Forest-based Del Taco Holdings Inc., the first step in its previously announced acquisition of the fast food chain.

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UCI Chancellor Emeritus Peltason Dies

Jack Peltason died Saturday at 91.

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Irvine Restaurant Operator Buys Again

American Restaurant Holdings Inc. in Irvine said an affiliate bought the five Orange County locations of Costa Mesa-based Fresca’s Mexican Grill.

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OC Auto Sales Rise 10.9%

Sales of new vehicles at Orange County auto dealers increased 10.9% year-over-year in February to 12,861, according to the Newport Beach-based Orange County Automobile Dealers Association.

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Irvine Restaurant Operator Buys Again

American Restaurant Holdings Inc. in Irvine said an affiliate bought the five Orange County locations of Costa Mesa-based Fresca’s Mexican Grill.

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Ceradyne Founder Moskowitz Dies

Joel Moskowitz, cofounder of Costa Mesa-based Ceradyne Inc., has died, according to a report in the Los Angeles Times.

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Midday Stock Roundup

Major indices climbed in midday training on easing fears of a hike in interest rates by The U.S. Federal Reserve.