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CSUF Index: Outlook Inches Up for Q4

ECONOMY: Most OC execs expect revenue gains; 42% plan to add jobsOrange County company executives started the fourth quarter with improved expectations for overall business activity, according to the latest quarterly index of business sentiments published by the Mihaylo College of Business and Economics at California State University-Fullerton.

By Jane Yu October 6, 2014 midnight   $$ Share
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El-Erian Backs Costa Mesa Startup

Mohamed El-Erian, former chief executive of Pacific Investment Management Co., has joined Costa Mesa-based startup Payoff Inc. as an investor and board member.

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Kareo Raises $15M

Irvine-based Kareo Inc. said today that it received $15 million in mezzanine debt financing, bringing its total capital raised this year to $47 million.

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Pac Merc Narrows Q3 Loss

Costa Mesa-based Pacific Mercantile Bancorp narrowed its third-quarter loss to $693,000, versus a loss of $1.4 million in the same quarter a year earlier.

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Edwards Beats Estimates

Irvine-based Edwards Lifesciences Corp. after markets closed Thursday posted third-quarter financial results that exceeded expectations, and the stock continued to rise on Friday.

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BJ’s Up on Q3

Shares of Huntington Beach-based BJ’s Restaurants Inc. rose sharply after hours Thursday on third-quarter results, and continued to rise in midday trading Friday.

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Ingram Improves Margins

Santa Ana-based Ingram Micro Inc. today reported third-quarter revenue that beat Wall Street expectations and adjusted profits in line with estimates.

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Telogis in Deal with Isuzu Unit in Anaheim

Aliso Viejo-based Telogis Inc. didn’t have to go far to land its latest software deal with a major automaker.

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Irvine Renewables Energy Firm to Get $270M Loan from China

The Export-Import Bank of China has signed a letter of intent to provide a loan of up to $270 million to BlueFire Renewables Inc., an Irvine-based renewable fuels company.

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UCI Shares in $8M Stem Cell Grant

University of California-Irvine announced it will conduct clinical trials for stem cell treatment in partnership with University of California-Los Angeles under an $8 million grant.

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First Foundation to List on Nasdaq

Shares of Irvine-based First Foundation Inc. will start trading on the Nasdaq exchange next month.

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Quarterly Profit Up for CalFirst Bancorp

Irvine-based California First National Bancorp reported net income of $2.5 million in the September quarter, an increase of about 34% from the same time a year earlier.

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Acacia Up on Strong Q3

Shares of Acacia Research Corp. surged in afterhours trading yesterday and stayed strong Thursday after the Newport Beach-based company reported revenue and adjusted profits in the third quarter that were well beyond Wall Street expectations.

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Pacific Premier Acquires Independence Bank

Irvine-based Pacific Premier Bancorp Inc. has agreed to pay $71.5 million to acquire Independence Bank in Newport Beach.

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Plaza Bank Q3 Profit Dips on Lower Noninterest Income

Irvine-based Plaza Bank reported $1.4 million in net income for the third quarter, down about 2% from the same time a year ago.

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Another Double-Digit Sales Gain for Vans

Vans Inc.’s revenue rose 12% in the third quarter, a 20th consecutive reporting period with double-digit gains for the Cypress-based unit of VF Corp. in Greensboro, N.C.

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Broadcom Reports Better-Than-Expected Quarter

Irvine-based chipmaker Broadcom Corp. today reported third-quarter revenue and adjusted profits that beat Wall Street expectations.

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Kaiser Aluminum Misses Profit, Revenue Estimates

Shares of Kaiser Aluminum Corp. fell 8.8% to about $68.5 and a market cap of about $1.31 billion in after-hours trading Monday as the Foothill Ranch maker of semi-fabricated aluminum products posted $15.9 million in earnings for the third quarter, good for 85 cent a share.

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Boot Barn Gives IPO Details

Irvine-based Boot Barn Holdings Inc. has announced details of its initial public offering, including the number and price of shares to be sold.

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Allergan Laying Off 40 in Carlsbad

Irvine-based drug maker Allergan Inc. filed papers with state officials saying it will lay off 40 workers in Carlsbad, effective Nov. 28, according to a Worker Adjustment and Retraining Notification notice filed with the state Employment Development Department.

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OC Adds 12,100 Jobs, Unemployment Falls

Orange County employers added 12,100 jobs in September, helping bring down the unemployment rate to 5.1%.

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Corinthian Gets Debt Relief, Sells Unit

Santa Ana-based Corinthian Colleges Inc. and its lenders agreed to a forbearance on certain elements of the company’s debt, according to an SEC filing by the company yesterday.

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QLogic Beats Quarterly Estimates

QLogic Corp. after the close of trading Thursday reported revenue and adjusted profits in the September quarter that beat Wall Street expectations.

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Habit Files for $86M IPO

Habit Restaurants LLC in Irvine filed for an initial public offering valued around $86 million, according to reports.

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VC Funding Drops in Q3

Venture capital deal flow slowed in Orange County in the third quarter.

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UCI Gets $1.3M for Lung Device Work

Four University of California-Irvine materials science and engineering researchers will receive $1.3 million from the National Science Foundation for work that could be used to develop lung disease treatments.