Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Palace Parent Goes Public

Newport Beach-based Palace Entertainment Holdings LLC’s $430 million in debt is expected to be repaid as a result of its parent company’s recent initial public offering.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,056.71.

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OCVA to Nab China MICE

The Orange County Visitors Association in Irvine has added a “Meetings, Incentives, Conventions and Exhibitions” effort to its Beijing office.

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New Managing Partner at EY

Kim Letch will become the Managing Partner for Ernst & Young’s Orange County office on July 1.

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Allergan Realigns Businesses

Allergan PLC has reorganized its business segments as it prepares to divest its generic drug unit.

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Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,073.35.

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Theme Park Owners Report Results

Burbank-based Walt Disney Co. said revenue at its parks and resorts—a division that includes Disneyland Resort in Anaheim—grew 4% in the company’s most recent quarter to $3.92 billion, up from $3.76 billion in the same period last year.

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Online Law School Graduates 1st Class

Newport Beach-based St. Francis School of Law has graduated its first class, with three law students.

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Midday Stock Roundup

Stock indices were higher in midday trading on strength in the energy and financial sectors and a report showing the number of job openings in the U.S. stood at an 8-month high at the end of the 1st quarter.

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Broadcom Sells Another Unit

Broadcom Ltd. has agreed to sell its wireless infrastructure backhaul business for $80 million to MaxLinear Inc. in the latest divestiture led by Chief Executive Hock Tan.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,061.73.

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HCP Spinning Off Skilled Nursing, Assisted Living

Irvine-based HCP Inc. will spin off its HCR ManorCare skilled nursing and assisted living businesses into a separate, publicly traded real estate investment trust.

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Register Names New Senior Editor

Todd Harmonson has been named senior editor at the Orange County Register, succeeding managing editor Donna Wares, according to the Southern California News Group, which oversees the Register.

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Midday Stock Roundup

The S&P 500 was flat in midday trading to 2,050.28.

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Autobytel Shares Crater on Q1 Results

Autobytel Inc. in Irvine reported mixed results for its March quarter, exceeding Wall Street expectations on revenue but delivering below forecasts on earnings

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Clean Energy Q1 Beats Wall Street

Newport Beach-based Clean Energy Fuels Corp. after the close of trading reported revenue and adjusted profits in the first quarter that blew away Wall Street expectations.

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Argyros Family Gives $7M for Hoag Nursing Program

Hoag Memorial Hospital Presbyterian today received a $7 million gift from Orange County philanthropists George and Julia Argyros to support its nursing program.

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$40M for AV-Based VR Camera Maker

Aliso Viejo-based 360fly Inc. has raised $40 million in a Series C financing round to boost global sales and marketing efforts for its breakthrough 360-degree 4K camera to be released later this month.

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Santa Ana Lender Names CFO

Santa Ana-based Stearns Lending LLC named Steve Smith chief financial officer.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,049.01.

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B Riley in $170M Buy

B. Riley Financial Inc., a Los Angeles-based investment firm that maintains an office in Newport Beach, is buying internet service provider United Online Inc. for $11 a share or about $170 million.

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NextVR Adds Deal with Live Nation

Laguna Beach-based virtual reality content maker NextVR Inc. has struck a deal with one of the world’s largest event companies to bring “hundreds” of live concerts to fans across the globe through virtual reality.

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Ingersoll Rand Buys in OC

Osterbauer Compressor Service, a distributor of heating and cooling systems in Buena Park, has been acquired on undisclosed terms by Davidson, N.C.-based environmental-systems maker Ingersoll Rand.

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Women Feted at Journal Awards

Some 900 attendees gathered at the Business Journal’s 22nd Annual Women in Business Awards, where Lisa Vogel, co-president of RAJ Swim in Tustin, delivered the keynote address encouraging women in business to be open, humble and flexible.

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Masimo Beats Q1 Estimates

Irvine-based patient monitor maker Masimo Corp. today reported first-quarter results that outpaced Wall Street forecasts.