Orange County Business Journal

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

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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Boot Barn Sets IPO Price

Boot Barn Holdings Inc. has priced its initial public offering of 5 million shares of its common stock at $16.

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AtheroNova Prices Offering, Shares Fall

Irvine-based biotechnology company AtheroNova Inc. has priced an offering of 4 million shares of its stock and warrants to buy its stock.

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Western Digital Beats Street

Irvine-based storage products maker Western Digital Corp. first-quarter revenue and adjusted earnings beat Wall Street estimates.

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GM Ventures Takes Stake in Telogis

Aliso Viejo-based Telogis Inc. has received an equity investment from GM Ventures, the venture capital arm of General Motors Inc.

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OC Auto Sales on Pace for 7.3% Gain

Sales at Orange County auto dealers rose 6.4% to 46,540 vehicles in the third quarter compared to the same period last year—the 16th consecutive quarterly improvement, according to the Newport Beach-based Orange County Automobile Dealers Association.

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Vizio New Title Sponsor for Fiesta Bowl

Irvine-based Vizio Inc. has signed on as the title sponsor of the 44th Annual Fiesta Bowl.

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Houston Firm Buys Stake in Brea Distributor

Minerco Resources Inc. in Houston, Texas, has acquired 30% stake in Brea-Based Avanzar Sales and Distribution LLC for $500,000.

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CareTrust Buys Idaho Senior Housing

Mission Viejo-based CareTrust REIT Inc. said today that it will spend $12 million to buy three senior housing facilities.

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Kodiak Takes $5M Stake in Energy Company

Newport Beach-based investment firm Kodiak Capital Group LLC has agreed to buy $5 million worth of common stock of Cirque Energy Inc., a Detroit-based developer of alternative energy sources.

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Opus Misses Estimates on Q3 Profit

Irvine-based Opus Bank’s third-quarter net income fell short of Wall Street estimates.

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Valeant Might Up Bid; Allergan Beats the Street

Valeant Pharmaceuticals International Inc. said today it would be willing to raise its hostile takeover bid for Irvine-based Allergan Inc. to $200 a 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.