Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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$125 Million for Banc of California

Irvine-based Banc of California is raising $125 million, for general corporate purposes, by issuing 5 million depositary shares or a total of 125,000 shares of its preferred stock.

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Midday Stock Roundup

Indices were down in midday trading on fresh declines in oil prices.

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OC, Anaheim Visitor Tally Up

Visitor counts rose countywide and in Anaheim in 2015.

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All-Time High for JWA 2015

John Wayne Airport served more than 888,000 passengers in December, tipping its passenger count for all of 2015 total passengers to an all-time high.

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Freedom Auction Set

The U.S. Bankruptcy Court Central District of California gave Freedom Communications Inc. the green light Monday to auction its assets on March 16.

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PIMCO Names Head of Europe Offices

Craig Dawson will replace Bill Benz in June as the global investment firm’s head of Europe, Middle East and Africa.

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Sanuk to Exit Irvine HQ

Deckers Outdoor Corp. said it will move Irvine-based sandal maker Sanuk USA LLC to its headquarters in Goleta to help “streamline brand operations and reduce infrastructure costs.”

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Pac Merc Earned $12.1M in Q4

Costa Mesa-based Pacific Mercantile Bancorp reported profits of $12.1 million, or $0.53 per share in its most recent quarter, up from $287,000 in the same period last year.

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OC Bank Buy Closes

Irvine-based Orange County Business Bank merged with Seattle-based HomeStreet Inc. on Feb. 1.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 1934.47.

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Broadcom Acquisition Closes

Broadcom Corp.’s $37 billion sale to Avago Technologies Inc. in Singapore closed today, ending the Irvine chipmaker’s 20-year history as a locally based company.

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Nordstrom Rack Coming to Center

Irvine Company said it plans to add a Nordstrom Rack store to its 120-tenant lineup at The Market Place shopping center in Tustin and Irvine.

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Windjammer Buys in Canada

Windjammer Capital Investors added two Canadian companies to its portfolio.

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Windjammer Buys in Canada

Windjammer Capital Investors added two Canadian companies to its portfolio Thursday.

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Banc of Cali Posts $19M Q4 Profit

Share prices in Irvine-based Banc of California Inc. continued to rise on Friday after the bank on Thursday reported quarterly profits of $19 million.

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Midday Stock Roundup

Indices were up on an interest rate cut today by the Bank of Japan that followed one last week by the European Central Bank, which, along with U.S. economic growth of 0.7% in the last quarter of 2015, could signal slower interest rate hikes by the U.S. Federal Reserve Board of Governors.

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OC Auto Sales Up 8.7% in 2015

Sales at Orange County auto dealers rose 8.7% last year and are expected to increase 2.5% this year, according to the Orange County Automobile Dealers Association in Newport Beach.

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FDA Approves Avanir Migraine Drug

Aliso Viejo-based Avanir Pharmaceuticals Inc. said today that the Food and Drug Administration approved its Onzetra Xsail drug for treating adults’ acute migraine headache.

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WDC In-line in Q2 Amid PC Decline, Plant Closure

Irvine-based storage products maker Western Digital Corp. after the close of trading reported December quarter revenue in line with Wall Street expectations and adjusted profits that narrowly beat estimates.

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Quality Systems Reports Results, Names CTO

Irvine-based Quality Systems Inc. reported financial results that missed Wall Street expectations for the three months ended Dec. 31.

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Software Maker Gets $10M

Irvine-based security software maker SecureAuth Corp. has raised another $10 million and expanded operations to the Beltway.

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Midday Stock Roundup

The S&P 500 was up 0.6% in midday trading to 1,894.17.

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CHOC Expanding Neonatal Unit

Children’s Hospital of Orange County will expand its neonatal intensive care unit.

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Chapman Taps Law Dean

Chapman University announced today that Matthew J. Parlow will be the next dean of its Fowler School of Law

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 1,908.68.