Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Midday Stock Roundup

The S&P 500 was down 0.1% at 2,060.78 in midday trading.

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Pac Merc Swings to Profit

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.

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Jobs Grow, Unemployment Falls to 4.4%

Orange County businesses added 33,500 jobs in 2014, up 2.3% to 1,515,300 jobs.

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El Pollo Loco a Takeover Target?

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.

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Microsemi Earnings In-line Q1, Tempers Q2 Outlook

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.

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Midday Stock Roundup

The S&P 500 was up 0.8% to 2,048.11 in midday trading.

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City National Sold For $5.4B

The parent of City National Bank has been acquired by Royal Bank of Canada for $5.4 billion.

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Opus Buys Escrow Company

Irvine-based Opus Bank has agreed to pay $25 million for Commerce Escrow Co. and its affiliate business RPM Investments Inc.

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Del Taco to Enter N.J.

Lake Forest-based Del Taco LLC said it will begin franchising in New Jersey, its first restaurants in the Northeast U.S.

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Profit Up for CalFirst

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.

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3 OC Resorts Make Travel Mag List

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.

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Midday Stock Roundup

The S&P 500 was up 0.2% to 2,027.18 in midday trading.

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Acacia Shares Drop on Patent Ruling

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.

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Pacific Premier Profit Up for 2014

Irvine-based Pacific Premier Bank had $16.6 million in net income last year, an 85% increase from 2013.

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Santa Ana, Cypress Colleges Plan Bachelor’s Degrees

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.

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Midday Stock Roundup

The S&P 500 was down 0.2% to 2,014.84 in midday trading.

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Alliant in $300M Deal to Buy QBE Units

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.

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San Clemente Auto Software Firms Buys Marketer

San Clemente-based automotive customer service firm DealerSocket Inc. has acquired DealerFire, a web design and digital marketing firm in Oshkosh, Wis.

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9 Builders Tapped for 2nd Great Park Home Site

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.

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Sunstone Gets New CEO

Sunstone Hotel Investors Inc. president John Arabia has been appointed chief executive of the Aliso Viejo-based company.

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Midday Stock Roundup

The markets are closed today in observance of the Martin Luther King, Jr. holiday.

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Midday Stock Roundup

The S&P 500 was up 0.9% to 2,009.59 in midday trading.

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Pimco Hires Ex-White House Adviser

Newport Beach-based Pacific Investment Management Co. has tapped former White House economic adviser Gene Sperling as a consultant on U.S. economic policy.

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Lyon Starts Mortgage Arm With Stearns

Newport Beach-based homebuilder William Lyon Homes has partnered with Stearns Lending LLC in Santa Ana to create William Lyon Mortgage LLC.

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NB Investor Buys Furniture Maker

Newport Beach-based investment firm Excelsior Capital Partners LLC has acquired office furniture maker Via Seating Inc.