Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Midday Stock Roundup

The S&P 500 was down 0.8% in midday trading to 2,059.08.

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California Republic Bank Acquired

Irvine-based California Republic Bancorp has been sold to Mechanics Bank in Walnut Creek in a deal worth an estimated $330 million in cash.

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Anaheim Apparel Maker to Be Sold

Midlothian, Texas-based Ennis Inc. said it plans to sell Alstyle Apparel LLC in Anaheim to the newly formed Alstyle Operations LLC for $76 million in cash and $12 million to cover a 60-month equipment lease.

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Big Data Start-Up Gets $5M

Irvine-based Levyx Inc. closed $5.4 million in Series A funding.

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WD Misses Wall Street Targets

Irvine-based storage products maker Western Digital Corp. reported revenue and adjusted profits in the March quarter that missed Wall Street expectations amid continued sagging PC sales.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,094.89.

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Broadcom Sells IoT Lines

Broadcom Ltd. has sold its Internet of Things business and related assets for $550 million to Cypress Semiconductor Corp. in San Jose

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Quality Systems Cutting Jobs, Restructuring

Irvine-based Quality Systems Inc. will cut 150 jobs, or about 6% of its U.S. workforce, as part of an operational realignment.

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Mitsubishi: U.S. Cars OK With EPA

Cypress-based Mitsubishi Motors North America Inc. said the fuel economy data for its vehicles model years 2013 to 2017 sold in the U.S. is accurate and is not affected by testing irregularities its Japan-based parent revealed last week.

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Law School Starts Civil Justice Institute

The University of California-Irvine School of Law has launched a Civil Justice Research Institute to explore how to make the U.S. civil justice system more accessible.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,087.22.

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PacSun CFO Departs

Pacific Sunwear of California Inc. named Ernie Sibal its chief financial officer after Chris Tedford resigned “to pursue other endeavors.”

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Edwards Beats Estimates

Irvine-based Edwards Lifesciences Corp. today reported better-than-expected first-quarter profit and revenue.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,087.52.

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Anaheim Hotelier in 2nd SD Buy

An affiliate of Anaheim-based Marwaha Group Inc. bought the 94-room TownePlace Suites hotel in Vista from Carlsbad-based TMACK Melrose LLC for $15 million, according to CoStar Group and public data.

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Auction of Baseball Rules Sets Record

Baseball’s oldest rule book fetched a record $3.2 million this weekend as part of the 2016 Spring Premier auction run by Laguna Niguel-based SCP Auctions.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,084.49.

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PacMerc Posts 1Q Profit

Costa Mesa-based bank holding company Pacific Mercantile Bancorp reported net income of $284,000 for the quarter ended March 31.

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Opus 1Q Profit Up 56%

Irvine-based Opus Bank posted $17.3 million in first-quarter net income, up 56% from the same period a year earlier.

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PHG to Add 145 Rooms in Napa

Irvine-based Pacific Hospitality Group plans to break ground April 29 on a four-story, 145-room hotel across the street from its Meritage Resort & Spa in Napa, according to a local news report.

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PHG to Add 145 Rooms in Napa

Irvine-based Pacific Hospitality Group plans to break ground April 29 on a four-story, 145-room hotel across the street from its Meritage Resort & Spa in Napa, according to a local news report.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,084.11.

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BJ’s Profit Up 21%

Shares in Huntington Beach-based BJ’s Restaurants Inc. jumped about 9% to a market cap of $1.1 billion in Friday morning trading following a positive quarterly report after markets closed yesterday.

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Allergan Makes $85M Buy

Allergan Plc bought Topokine Therapeutics for $85 million and certain milestone payments.

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MVE Names Founder's Son Principal

Irvine-based architectural design firm MVE & Partners promoted Matthew McLarand, formerly a senior associate partner, to principal.