OC BUSINESS JOURNAL DAILY NEWS
The S&P 500 was down 0.1% at 2,060.78 in midday trading.
Costa Mesa-based Pacific Mercantile Bancorp swung to a profit in the fourth quarter, logging $390,000 in net income compared with a loss of $14.8 million in the year-earlier period.
Orange County businesses added 33,500 jobs in 2014, up 2.3% to 1,515,300 jobs.
Costa Mesa-based El Pollo Loco Holdings Inc. has been mentioned as a possible takeover target after news reports that a Philippines-based restaurant company is shopping for a U.S.-based regional fast food chain worth at least $1 billion.
Aliso Viejo-based chipmaker Microsemi Corp. reported revenue and adjusted profits for the December quarter in line with Wall Street with estimates but provided a sales outlook for the current quarter below Wall Street expectations.
The S&P 500 was up 0.8% to 2,048.11 in midday trading.
The parent of City National Bank has been acquired by Royal Bank of Canada for $5.4 billion.
Irvine-based Opus Bank has agreed to pay $25 million for Commerce Escrow Co. and its affiliate business RPM Investments Inc.
Lake Forest-based Del Taco LLC said it will begin franchising in New Jersey, its first restaurants in the Northeast U.S.
Irvine-based California First National Bancorp posted $3.6 million in profit for the three months ended Dec. 31, up 63% from the same period a year ago.
Three Orange County resorts—the Montage Laguna Beach, the Ritz-Carlton Laguna Niguel in Dana Point, and the Resort at Pelican Hill in Newport Coast—made Travel & Leisure magazine’s annual list of the world’s 500 best hotels.
The S&P 500 was up 0.2% to 2,027.18 in midday trading.
Shares of Acacia Research Corp. dipped sharply after the company received an unfavorable ruling on patent infringement claims it made against some large technology companies.
Irvine-based Pacific Premier Bank had $16.6 million in net income last year, an 85% increase from 2013.
Santa Ana College and Cypress College were named to a list of 15 community colleges statewide that can offer four-year college degrees, according to the California Community Colleges chancellor’s office.
The S&P 500 was down 0.2% to 2,014.84 in midday trading.
Newport Beach-based Alliant Insurance Services Inc. has agreed to pay about $300 million to acquire QBE US Agencies, the U.S. operations of Sydney, Australia-based QBE Insurance Group Ltd.
San Clemente-based automotive customer service firm DealerSocket Inc. has acquired DealerFire, a web design and digital marketing firm in Oshkosh, Wis.
Irvine-based Standard Pacific Corp. is the lone locally-based homebuilder tapped to build homes at Beacon Park, the second community planned for the Great Park Neighborhoods.
Sunstone Hotel Investors Inc. president John Arabia has been appointed chief executive of the Aliso Viejo-based company.
The markets are closed today in observance of the Martin Luther King, Jr. holiday.
The S&P 500 was up 0.9% to 2,009.59 in midday trading.
Newport Beach-based Pacific Investment Management Co. has tapped former White House economic adviser Gene Sperling as a consultant on U.S. economic policy.
Newport Beach-based homebuilder William Lyon Homes has partnered with Stearns Lending LLC in Santa Ana to create William Lyon Mortgage LLC.
Newport Beach-based investment firm Excelsior Capital Partners LLC has acquired office furniture maker Via Seating Inc.