FINANCE

Kush Bottles Rises on Report

Shares of Kush Bottles Inc. (OTC: KSHB) rose 6.3% to $2.97 today after the Santa Ana-based supplier of cannabis paraphernalia reported annual and quarterly revenue that topped an analyst’s forecast.

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Shanghai Surprise: Disney Parks Boss at Head of CEO Line

Bob Chapek, head of the Walt Disney Co.’s parks and resorts division, is viewed as the successor to Bob Iger, according to Bloomberg News, citing unidentified people familiar with the situation.

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UCI Gets $7.8M Grant for Brain Study

University of California-Irvine has been awarded a $7.8 million federal grant from the Eunice Kennedy Shriver National Institute of Child Health & Human Development to explore the link between family income and early brain development.

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Five Point’s Debt Sees High Demand

Five Point Holdings LLC (NYSE: FPH) found bond buyers so eager for its high-yield debt that it increased the offering to $450 million.

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Chargers Pick Pacific Premier

Pacific Premier Bancorp Inc. (Nasdaq: PPBI), signed a multiyear partnership with the National Football League’s Los Angeles Chargers.

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OC Unemployment Down

Orange County’s unemployment rate fell to 3.3% in October, led by an increase in the local education sector, according to the state’s Employment Development Department.

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Advantage Solutions Buys Complementary Company

Advantage Solutions Inc. will buy Daymon Worldwide Inc. on undisclosed terms in a deal that links two private equity-backed big players in brand and retail sales and marketing work.

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Device Maker Raises $2.9M

Irvine-based Modulated Imaging Inc. said today it closed a Series A funding round of about $2.9 million.

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Eight Feted for National Philanthropy Day

Association of Fundraising Professionals—OC honored eight of the county's outstanding givers at a National Philanthropy Day today before a lunch crowd of 680 at City National Grove in Anaheim.

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LA Times Site Sells for $65M

The owners of the Costa Mesa creative office complex that holds the headquarters of the Los Angeles Chargers have picked up an even larger redevelopment site next door.

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Juice It Up Adds Drive Thru

A Juice It Up franchisee will offer the chain’s products for the first time in a drive-thru location next month.

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Nonprofit Gifted $8.5M Home

Big Brothers Big Sisters of Orange County and the Inland Empire received the biggest financial gift in its history: a home in Laguna Beach valued at $8.5 million.

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Toshiba America Acquires NorCal Dealer

Lake Forest-based Toshiba America Business Solutions Inc. has acquired an equipment distributor and reseller in Northern California.

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Buck’s Art Stops for Good at UCI

The University of California-Irvine announced today that it’s received a collection of California art from the trust of Gerald Buck, a Newport Beach developer.

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El-Erian Buzzed for Fed VC

Former Pacific Investment Management Co. Chief Executive Mohamed El-Erian’s name is being floated to be vice chairman of the Federal Reserve, news reports said.

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Opus Bank Hires CFO

Opus Bank (Nasdaq: OPB), an Irvine-based bank struggling with troubled loans, said it hired a new chief financial officer to replace Nicole M. Carrillo.

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Opus to Pay $17M to Settle Suit

Opus Bank (Nasdaq: OPB) is settling for $17 million a class-action shareholder lawsuit alleging the Irvine company misled investors about the quality of its loans.

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ICU Guides EBITDA Up

ICU Medical Inc. in San Clemente reported revenue of about $343 million in its most recent quarter, compared with about $97 million in the same period prior year.

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Taco Bell Shifts Senior Execs

Melissa Lora will retire next summer from her position as president of Taco Bell Corp.’s international division. Chief Financial Officer Liz Williams will move into Lora’s role and Rahul Shinde, currently GM in India for KFC will become Division CFO at Taco Bell.

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ChromaDex Sales Up in Q3

Irvine-based ChromaDex Corp. reported $6.1 million in sales for its most recent quarter, up 55% year-over-year, and a net loss of $3.2 million, about 30% more than the same period last year.

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Alteryx Beats Street in Q3

Irvine-based Alteryx Inc. reported third quarter sales and operating profits that beat Wall Street expectations and provided modestly improved guidance for the current quarter.

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Disney Parks, Resorts Only Up Segment

Walt Disney Co.’s parks and resorts segment reported higher quarterly and annual revenue—the only one of the entertainment giant’s four business units to do so.

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Mitsakos Sentenced

Nicholas Mitsakos, former interim chief executive of Irvine-based media firm Ubiquity Inc., was sentenced today to 30 months in prison on charges of conspiring to commit securities fraud and wire fraud, said Joon H. Kim, acting U.S. attorney for the Southern District of New York.

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Five Point Sells More Land for Homes, Plots Retail

Five Point Holdings LLC said it has sold the 103 acres of land that will hold the next batch of homes at Irvine’s Great Park Neighborhoods, for $475 million.

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Chapman: $150M in Bonds for Student Housing

Chapman University will buy Katella Grand, a 399-unit apartment complex near Anaheim's Platinum Triangle, for $148 million, from UDR, a Colorado-based REIT.

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