OC BUSINESS JOURNAL DAILY NEWS

Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,740.17.

Tease photo

Avid Expects $20M from Secondary Offering

Tustin-based Avid Bioservices Inc. yesterday priced a public offering of 9 million shares of common stock at $2.25 apiece, and expects more than $20 million in gross proceeds after the offering closes next week.

Tease photo

Business Journal Fetes Five CFOs

A crowd of some 600 gathered to honor Orange County financial executives at the Business Journal’s 11th annual CFO of the Year Awards Thursday night.

Tease photo

OC 500: Barry Rondinella

Third year in role … previously: LAXparent Los Angeles World Airports … county-owned facility, 10.2M annual passengers … changing airlines’ cut; Southwest down, others up … opposite number at Long Beach OC 500’s Jess Romo … general aviation master plan inprocess, expected end of 2018 … 2017, new FBO, ACI Jet, led by OC 500’s William Borgsmiller

Tease photo

UCI Prof Joins Acacia in Restaurant Robotics

A Chicago hospitality company has joined Acacia Research Corp. in an investment in a Pasadena-based robotics maker for the restaurant industry, and a University of California-Irvine professor has joined that firm’s advisory board.

Tease photo

OC 500: Miguel Gonzalez Reynoso

Parents Miguel González Sr., Teresa Reynoso arrived U.S. 1968 … Mexico business had closed … launched Latino- American-focused grocery chain 1980 … est. $745M revenue … flagship La Habra market opened March … layout includes Mercado grab-and-go, oven-ready meals; salsa-soup-salad bar; organic products … move turns focus to second-, third-gen Latinos

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.6% in midday trading to 2,715.15.

Tease photo

Mazzo Retrial to Jury

For the second time in a year, the fate of Jim Mazzo is in the hands of a federal jury. Prosecutors are again alleging that the founder and former chief executive of Advanced Medical Optics (AMO) violated insider trading laws when he disclosed to his friend and Laguna Beach neighbor Doug DeCinces that his company was being bought by Abbott Laboratories.

Tease photo

Taco Bell Picks 2 Leaders

Irvine-based Taco Bell said senior executives Julie Felss Masino and Liz Williams will co-lead the company when Chief Executive Brian Niccol departs for the top slot at Chipotle Mexican Grill Inc. in Denver on March 5.

Tease photo

Midday Stock Roundup

The S&P 500 was up 1% in midday trading to 2,688.61.

Tease photo

Avid Sells Oncology Drug

Avid Bioservices Inc. in Tustin will sell its clinical-stage immunotherapy cancer drug candidate to Oncologie Inc. for $8 million upfront—with payments spread over six months—and up to $95 million in development, regulatory and commercialization milestones.

Tease photo

Niccol to Lead Chipotle

Brian Niccol will leave the top slot at Taco Bell to lead Chipotle Mexican Grill, effective March 5.

Tease photo

OC 500: Shirin Behzadi

Ex-CFO runs franchiser of homecare businesses … biggest Budget Blinds … also Tailored Living (organizing), Concrete Craft (resurfacing) … $600M systemwide sales … started finance side, under five co-founders …

Tease photo

Midday Stock Roundup

The S&P 500 fell 0.3% in midday trading to 2,649.46.

Tease photo

Mechanics Buys Scott Valley Bank

Mechanics Bank (OTCBB: MCHB) said it will acquire Learner Financial Corp., the bank holding company for Scott Valley Bank, to add $692 million in assets. Terms weren’t disclosed.

Tease photo

OC 500: Steve Layton

The L in LBA, which runs much of Irvine’s Park Place mixed-use campus near airport … it kept 10% stake after two deals that moved remainder to others … owns JWA area Oracle Tower … ex- Toshiba campus in Spectrum, bought for $65M in 2016 … has begun 230K SF R&D, industrial project in San Diego’s Kearny Mesa area

Tease photo

Pacific Premier Buys Grandpoint

Irvine’s Pacific Premier Bancorp (Nasdaq: PPBI) agreed to acquire Grandpoint Capital Inc. (OTC Pink: GPNC) in an all stock deal valued at $641.2 million.

Tease photo

Midday Stock Roundup

Indices across the board rebounded at midday by more than 1% apiece on a broad-based rally following two weeks of market turmoil.

Tease photo

24M Anaheim Visitors in 2017

Visit Anaheim said 24.2 million visited the city it promotes in 2017, a 5.1% increase over 2016, according to data gathered and analyzed by CIC Research Inc. in San Diego.

Tease photo

OC 500: Sebastian 'Paul' Musco

Still heads to work in his 90s … Gemini reclaims precious metals for use in chemical work by ExxonMobil, Dow … backs Chapman—Musco Center for the Arts—PBS SoCal, OC School of the Arts, St. Michael’s Abbey … Italian immigrant … 2017 Ellis Island honoree … three words: ‘hard work, dream’ … passionate about ‘my wife and charities’ … Business Journal OC’s Wealthiest, $300M

Tease photo

OC 500: Natalia Ostensen

More day-to-day at Olen, one of largest local property owners, from father, OC 500’s Igor Olenicoff … heads commercial property unit leasing team … leads on more Olen acquisitions … $500M buying pace … Andrei’s Restaurant, Irvine, founded, named for late brother; net profits back eye research … husband, Derek Ostensen … Laguna Beach duo dedicated Heisler Park sculptures 2017

Tease photo

OCBC Picks Six; Churm is Chairman

Orange County Business Council named six “game changers” for 2018 and Steve Churm, chief communications officer of Great Park Neighborhoods developer FivePoint, was sworn in as board chair at the group’s annual dinner Thursday.

Tease photo

Midday Stock Roundup

Indices were down more than 1% apiece on continued market turmoil.

Tease photo

New Bank Opens in Santa Ana

Infinity Bank opened on Feb. 1 in Santa Ana, the first new bank in a year in Orange County.

Tease photo

JetBlue Contests Long Beach Fines

JetBlue Airways Corp. plans to contest $264,000 in fines levied against it between April and November for violating the Long Beach Airport curfew, news reports said.

Tease photo