Orange County Business Journal

FINANCE

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

University of California-Irvine’s innovation institute has received $2.2 million from the state to help speed research and innovations to market.

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Rakuten to Exit Aliso Viejo

Rakuten.com Shopping is moving from Aliso Viejo to San Mateo in the Silicon Valley in March.

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CPA Firms Combine

Certified public accountancy Katherman Kitts & Co. in Irvine said its entire team has joined Haskell & White, effective Feb. 1.

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PAAMCO, KKR in Deal

Irvine-based fund of hedge funds Pacific Alternative Asset Management Company plans to join with a unit of KKR Inc. in New York to form a firm with $34 billion in assets under management, according to a statement by both companies.

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Rossignol Buys Irvine Bike Maker

Skis Rossignol S.A. in Grenoble, France, bought Felt Racing LLC in Irvine on undisclosed terms.

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Wet Seal Files for BK Again

Wet Seal LLC in Irvine filed for Chapter 11 bankruptcy protection Thursday, and is taking steps to liquidate its assets.

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MSC Sold for $834M

Newport Beach-based MSC Software Corp. will be sold for $834 million to Swedish IT service provider Hexagon AB, the companies said today.

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Glaukos Names New COO

San Clemente-based Glaukos Corp. promoted Chris Calcaterra as chief operating officer, effective immediately.

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Edwards Up in Q4

Edwards Lifesciences Corp. in Irvine reported fourth-quarter earnings of $767.7 million, up 14.4% year-over-year. U.S. and international sales were $421.5 million and $346.2 million, respectively.

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Razer Buys Phone Maker

Irvine-based video game products maker Razer Inc. has acquired the majority of assets of a San Francisco company that developed a mobile phone that offers unlimited cloud-storage capacity.

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Ad Testing Firm Sold

Ezoic Inc. in Carlsbad bought OC-based advertising technology firm AmpedSense.

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Nekter Expands to 3 New States

Nekter Juice Bar Inc. in Santa Ana has signed multi-unit franchise agreements to bring the food-and-smoothie chain into Utah, Washington and Florida—all new states for the chain.

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Boot Barn Misses on Revenue

Boot Barn Holdings Inc. reported mixed results for its December quarter, meeting Wall Street expectations on earnings but delivering below forecasts on revenue.

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Emerald Buys Home Tech Show

Emerald Expositions LLC in San Juan Capistrano acquired the CEDIA trade show from the Custom Electronics Design & Installation Association in Indianapolis, Ind., on undisclosed terms.

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Microsemi Sales Hit Marks

Aliso Viejo-based chipmaker Microsemi Corp. reported revenue in the December quarter in line with Wall Street expectations, and an adjusted profit that beat estimates.

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Five CFOs Recognized

Executives were honored in five categories Wednesday night at the Orange County Business Journal CFO of the Year awards, which drew a crowd of about 600 to the Hotel Irvine.

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Retailer to Cut 148 Jobs

Irvine-based Wet Seal notified the state Employment Development Department that it plans to lay off 148 local workers by March 21. It listed a permanent closure as the reason.

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UCI Starts Graduate Finance Program

University of California-Irvine’s Paul Merage School of Business announced the creation of a master of finance program in response to research showing high demand from recruiters and students.

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Ad Tech Firm Buys Competitor

Viant Technology LLC in Irvine agreed to buy Waltham, Mass.-based Adelphic on undisclosed terms.

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Healthcare REIT Gets New Exec

Irvine-based senior housing real estate investment trust HCP Inc. named Peter Scott executive vice president and chief financial officer.

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Banc of California CEO Resigns

Irvine-based Banc of California Inc. announced Chairman and Chief Executive Steven Sugarman has resigned.

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PacLife Shedding Jobs

Newport Beach-based Pacific Life Insurance Co. plans to lay off about 140 in March.

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Unemployment Down, Jobs Too

Orange County’s unemployment rate fell to 3.5% in December from a revised 3.7% in November despite a net loss of jobs month-over-month.

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Reports: Wet Seal Exploring Sale

Wet Seal LLC is exploring liquidation or a sale, according to news reports.

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Ex-SEC Chair Joins Wealth Advisory

Former Orange County Congressman and Securities and Exchange Commission Chairman Chris Cox joined the board of Leawood, Kan.-based Creative Planning Inc. as director of regulatory governance.