Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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OCVA Offers Online Training in Middle Eastern Culture

The Orange County Visitors Association has produced an online video to help train hospitality and retail industry workers to welcome visitors to Orange County from the Middle East.

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Midday Stock Roundup

The S&P 500 was up 1.3% to 2,077.94.

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QLogic Shares Drop on Outlook

Shares of QLogic Corp. have plummeted today after the Aliso Viejo-based networking gear maker slashed revenue and profit targets for the June quarter, citing a bevy of market challenges.

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Midday Stock Roundup

The S&P 500 was up 0.9% to 2,064.26.

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Banc of CA Sells 2 Branches

Irvine-based Banc of California Inc. has agreed to sell two branches to Americas United Bank in Glendale, which primarily serves Latino-American customers.

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Midday Stock Roundup

Markets saw sell-offs Wednesday morning on concern over China’s stock market.

NB Investor Acquires Wall Decor Products Maker

Excelsior Capital Partners LLC in Newport Beach formed two new entities to acquire Artissimo Designs, a manufacturer of wall decoration products.

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Payoff to Get $250M

Costa Mesa-based consumer financial services firm Payoff Inc. has secured up to $250 million in debt financing to help its members pay off credit card debt.

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Allergan Makes Migraine Deal With Merck

Allergan PLC said today that it is acquiring the rights to a migraine drug development program from Merck & Co. for an upfront payment of $250 million plus milestone payments and tiered royalties.

Irvine Software Maker Acquired

Irvine-based Drawloop Technologies Inc. announced it has been acquired by Bellevue, Washington-based Nintex USA LLC for an undisclosed amount.

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Five Point Plans for IPO

Aliso Viejo-based Five Point Holdings Inc. said it’s planning an initial public offering.

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Midday Stock Roundup

The S&P 500 was down 0.6% in midday trading to 2,054.69.

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Asics Licensee Could Shutter Stores

Asics America Corp. in Irvine said it ended its retail operating agreement with Windsor Financial Group LLC and that it anticipates the former licensee will shutter its 13 stores in response, including the Fashion Island location in Newport Beach.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,072.39.

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Allergan Buys Dry Eye Company

Allergan PLC, whose eye drug hub is in Irvine, said today that it will buy Oculeve Inc. for $125 million plus milestone payments.

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June Sales Up for OC Automakers

Two of the four Orange County-based automakers beat the national sales pace for new vehicles in June, according to New Jersey-based market researcher Autodata Corp.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,072.77.

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Avanti Moves HQ to Costa Mesa

Avanti Restaurant Solutions said it moved its corporate headquarters from Sacramento to Costa Mesa.

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Alliant Buys in N.Y.

Newport Beach-based Alliant Insurance Services Inc. has acquired Preferred Concepts LLC, a New York-based wholesale broker and underwriter that specializes in real estate insurance.

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Distressed RE Specialist Gets $20M Investment

Newport Beach-based real estate investment trust CV Holdings Inc. has sold $20 million worth of preferred stock to Tricadia Capital Management LLC in New York.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,072.91.

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Newly Acquired Bond Firm to Support Gross

Janus Capital Group Inc. has acquired a majority stake in Kapstream Capital Pty Ltd, an unconstrained bond manager in Australia that also has operations in Newport Beach.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,063.37.

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Del Taco-Levy Combo OK’d

Lake Forest-based Del Taco Holdings Inc. will be acquired and become a public company today, after shareholders in Chicago-based Levy Acquisition Corp. voted in favor of Levy’s acquisition of the Mexican-style fast food chain.

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JWA Traffic Up in May

John Wayne Airport booked a nearly 5% increase in passengers and a 1% increase in commercial airline flights in May 2015, compared with the same month last year.