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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Vans’ Revenue Up 21%

Vans Inc.’s revenue rose 21%, its parent VF Corp. reported in its second quarter financials.

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OC Adds Jobs, Unemployment Rate Ticks Up

The unemployment rate in Orange County rose to 5.2% even as the county added 6,700 jobs in June.

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Investor Targets Yard House Parent

Starboard Value L.P. in New York City increased its ownership in Orlando-based Darden Restaurants Inc.to 7.1% and criticized its planned $2.1 billion sale of the Red Lobster chain.

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Corinthian Monitor Named

Law firm Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates and former U.S. Attorney Patrick Fitzgerald were named as the independent monitors for Corinthian Colleges Inc.’s wind-down of its operations.

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Taco Bell Revenues Down

Irvine-based Taco Bell Corp. saw a 3% dip in revenue in the second quarter compared with a year earlier, according to results from parent Yum Brands Inc.

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Irvine Publisher Gets Pet Websites

I-5 Publishing LLC in Irvine has acquired San Francisco-based Say Media Inc.’s Dogster and Catster websites, which attract a combined 2.5 million visitors each month, according to the company.

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Ensign Group Gets Four L.A. Facilities

Mission Viejo-based nursing home operator Ensign Group Inc. has agreed to acquire four care facilities in Los Angeles County from Keiro Senior HealthCare on undisclosed terms.

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Fewer VC Dollars, More OC Deals in Q2

Venture capital funding for Orange County companies dipped by 3% in the second quarter while the number of financing rounds increased.

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Beckman Coulter Acquires Siemens Unit

Brea-based laboratory instruments maker Beckman Coulter Inc. has agreed to acquire the microbiology unit of German conglomerate Siemens AG.

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Allergan Dismisses Ackman’s Move

Allergan Inc. rebuffed Bill Ackman’s latest attempt to push the Irvine-based drug maker to reconsider the value of Valeant Pharmaceuticals International Inc.’s takeover bid.

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NB Software Firm Buys Two Companies

Newport Beach-based Qliktag Software Inc. acquired two companies on undisclosed terms.

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Sudek to Leave Chapman for UCI

University of California-Irvine has tapped the angel investor who heads Chapman University’s entrepreneurship center to direct its Institute for Innovation.

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NB Surgery Center Operator Gets $14M

Newport Beach-based surgery center operator Starpoint Health Inc. has received $14 million in a credit facility for recapitalization from Monroe Capital LLC in Chicago.

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Corinthian Reassures Students on Closings

Corinthian Colleges Inc. is telling students at campuses slated to close they can finish their degrees.

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El Pollo Loco Sets IPO Price

Costa Mesa-based El Pollo Loco Holdings Inc. has set the terms for its planned IPO, according to reports.

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190,000 SF Lease for Manhattan Beachwear

Cypress-based swimsuit maker Manhattan Beachwear LLC has signed a lease on a 191,000 square-foot location in Buena Park, where it plans to set up a warehouse and distribution center.

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$4.8M for Diabetes Management Startup

Laguna Hills-based Metronom Health Inc. has raised $4.8 million in seed funding, according to a filing with the Securities and Exchange Commission.

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Allergan Rebuffs Valeant's Latest Move

Valeant Pharmaceuticals International Inc. has filed a pre-merger notification with the U.S. Federal Trade Commission in its pursuit of Irvine-based Allergan Inc.

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Midday Stock Roundup

The S&P 500 was up 0.56% to 1,978.64 in midday trading Monday.

Allergan to Shareholders: Leave Board in Place

Valeant Pharmaceuticals International Inc. has filed a pre-merger notification with the U.S. Federal Trade Commission in its pursuit of Irvine-based Allergan Inc.

Building Time in Orange?

Office Buys Could Spur Apartments, Tower Project

A big chunk of apartment construction and a new office tower could go up on land next to the Outlets at Orange following the recent sale of two nearby buildings.

Allergan’s New Look Likely to Include Slimmer Headquarters

HEALTHCARE: Plans some R&D cuts to boost earnings amid takeover battle

Look for Allergan Inc. to start looking different as the takeover battle for the Irvine-based drug maker grinds on.

Vinny’s Other Dell Deal: $150M for Quest’s Venture Portfolio

FINANCE: 10 companies formed foundation of Irvine-based Toba

The foundation of what is now the largest venture capital firm in Orange County tracks back to Vinny Smith’s success in retrieving a chunk of Quest Software in a deal struck nearly a year after its $2.8 billion sale to Dell Inc.

OC Roots Surface in $140 Million Acquisition

TECHNOLOGY: Lake Forest company in hot segment

The deep roots of Orange County’s technology sector intersected with one of the industry’s hottest segments in last week’s $140 million sale of Lake Forest-based chipmaker Newport Media Inc.

No Local Changes Seen After Medtronic Buy

HEALTHCARE: Q4 closing expected for $42.9B deal

Medtronic Inc. is likely to keep its Orange County operations basically intact, even after it wraps up a multibillion-dollar acquisition that could make it one of the top five medical device makers by local employment.