Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Experian Offers New Experience

Seeks to Change Reputation From Credit Judge to Consumer AllyNo one wants to be seen as the bearer of bad news, even if it’s part of their job description. Experian plc, one of three major credit reporting agencies, is no exception.

By Mediha DiMartino March 21, 2016 midnight   $$ Share
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$40M for AV-Based VR Camera

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 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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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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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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Masimo Beats Q1 Estimates

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

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Glaukos Guides Higher, Shares Up

Shares of Laguna Hills-based Glaukos Corp. rose today on first-quarter results that beat expectations.

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Gross Gives $2M to Pimco Foundation

Bond fund manager Bill Gross plans to donate $2 million to the Pimco Foundation after he sold a portion of his Swiss stamp collection.

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FivePoint Completes Restructuring

Aliso Viejo-based FivePoint Communities Inc. completed a reorganization that gives it ownership of four of California’s largest master-planned communities, including Irvine’s Great Park Neighborhoods.

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Universal Services to Merge

Santa Ana-based commercial security and janitorial services company Universal Services of America will merge on undisclosed terms with AlliedBarton Security Services in Conshohocken, Pa. to create a company named AlliedUniversal.

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Del Taco Swings to Q1 Profit

Lake Forest-based Del Taco Restaurants Inc. reported net income of about $3.1 million for the first quarter of 2016 compared with a $4.9 million loss year-over-year.

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California Republic Bank Acquired

Irvine-based California Republic Bancorp has been sold to Mechanics Bank in Walnut Creek in a deal worth an estimated $330 million in cash.

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Anaheim Apparel Maker to Be Sold

Midlothian, Texas-based Ennis Inc. said it plans to sell Alstyle Apparel LLC in Anaheim to the newly formed Alstyle Operations LLC for $76 million in cash and $12 million to cover a 60-month equipment lease.

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Big Data Start-Up Gets $5M

Irvine-based Levyx Inc. closed $5.4 million in Series A funding.

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Broadcom Sells IoT Lines

Broadcom Ltd. has sold its Internet of Things business and related assets for $550 million to Cypress Semiconductor Corp. in San Jose

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Quality Systems Cutting Jobs, Restructuring

Irvine-based Quality Systems Inc. will cut 150 jobs, or about 6% of its U.S. workforce, as part of an operational realignment.

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Edwards Beats Estimates

Irvine-based Edwards Lifesciences Corp. today reported better-than-expected first-quarter profit and revenue.

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Anaheim Hotelier in 2nd SD Buy

An affiliate of Anaheim-based Marwaha Group Inc. bought the 94-room TownePlace Suites hotel in Vista from Carlsbad-based TMACK Melrose LLC for $15 million, according to CoStar Group and public data.

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Auction of Baseball Rules Sets Record

Baseball’s oldest rule book fetched a record $3.2 million this weekend as part of the 2016 Spring Premier auction run by Laguna Niguel-based SCP Auctions.

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PacMerc Posts 1Q Profit

Costa Mesa-based bank holding company Pacific Mercantile Bancorp reported net income of $284,000 for the quarter ended March 31.

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Opus 1Q Profit Up 56%

Irvine-based Opus Bank posted $17.3 million in first-quarter net income, up 56% from the same period a year earlier.

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PHG to Add 145 Rooms in Napa

Irvine-based Pacific Hospitality Group plans to break ground April 29 on a four-story, 145-room hotel across the street from its Meritage Resort & Spa in Napa, according to a local news report.

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BJ’s Profit Up 21%

Shares in Huntington Beach-based BJ’s Restaurants Inc. jumped about 9% to a market cap of $1.1 billion in Friday morning trading following a positive quarterly report after markets closed yesterday.

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Allergan Makes $85M Buy

Allergan Plc bought Topokine Therapeutics for $85 million and certain milestone payments.

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Acorns Raises $30M Series D

Irvine-based Acorns Grow Inc. raised $30 million in Series D funding that includes investments from Palo Alto-based PayPal and Rakuten Fintech Fund, the investment arm of an e-commerce company in Tokyo.

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PacPremier Profit, Loans, Deposits Up

Shares in Irvine-based Pacific Premier Bancorp Inc. closed up 1.7% to $21.68 and a market cap $597 million after the company reported first quarter net income of $8.6 million, a 387% increase from the same period a year ago.