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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Edwards Beats on Q4; Ups Guidance

Irvine-based Edwards Lifesciences Corp. beat analyst expectations on quarterly revenue and profit and boosted full-year expectations in a report issued after markets closed Tuesday.

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Boot Barn Beats; Shares Up

Shares of Boot Barn Holdings Inc. were up 29% in recent trading to a market cap of $188 million on the strength of its quarterly report issued yesterday.

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$125 Million for Banc of California

Irvine-based Banc of California is raising $125 million, for general corporate purposes, by issuing 5 million depositary shares or a total of 125,000 shares of its preferred stock.

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Freedom Auction Set

The U.S. Bankruptcy Court Central District of California gave Freedom Communications Inc. the green light Monday to auction its assets on March 16.

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PIMCO Names Head of Europe Offices

Craig Dawson will replace Bill Benz in June as the global investment firm’s head of Europe, Middle East and Africa.

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Pac Merc Earned $12.1M in Q4

Costa Mesa-based Pacific Mercantile Bancorp reported profits of $12.1 million, or $0.53 per share in its most recent quarter, up from $287,000 in the same period last year.

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OC Bank Buy Closes

Irvine-based Orange County Business Bank merged with Seattle-based HomeStreet Inc. on Feb. 1.

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Broadcom Acquisition Closes

Broadcom Corp.’s $37 billion sale to Avago Technologies Inc. in Singapore closed today, ending the Irvine chipmaker’s 20-year history as a locally based company.

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Windjammer Buys in Canada

Windjammer Capital Investors added two Canadian companies to its portfolio Thursday.

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Banc of Cali Posts $19M Q4 Profit

Share prices in Irvine-based Banc of California Inc. continued to rise on Friday after the bank on Thursday reported quarterly profits of $19 million.

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WDC In-line in Q2 Amid PC Decline, Plant Closure

Irvine-based storage products maker Western Digital Corp. after the close of trading reported December quarter revenue in line with Wall Street expectations and adjusted profits that narrowly beat estimates.

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Quality Systems Reports Results, Names CTO

Irvine-based Quality Systems Inc. reported financial results that missed Wall Street expectations for the three months ended Dec. 31.

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Software Maker Gets $10M

Irvine-based security software maker SecureAuth Corp. has raised another $10 million and expanded operations to the Beltway.

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CHOC Expanding Neonatal Unit

Children’s Hospital of Orange County will expand its neonatal intensive care unit.

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Montage Investor to Provide Up to $200M for Growth

Montage Hotels & Resorts LLC in Irvine said a real estate fund affiliated with Ares Management LP in Los Angeles will buy up to 20% of the hospitality manager and, in addition, commit “up to $200 million” to acquire and develop properties which Montage would operate.

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Quiksilver Names Post BK Board

Huntington Beach-based Quiksilver Inc. selected a new board of directors to take over after bankruptcy proceedings end, according to documents filed with the U.S. Bankruptcy Court for the District of Delaware.

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Midday Stock Roundup

The S&P 500 was up 1.47% in midday trading to 1,904.72.

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Pacifica Hotels Buys in DTLA

Pacifica Hotels bought the Milner Hotel in downtown Los Angeles from Milner Hotels Inc.

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Opus Bank to Buy Trust Company

Irvine-based Opus Bank will buy San Francisco-based PENSCO Trust Co.

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Midday Stock Roundup

The S&P 500 was down 0.7% to 1.894.32.

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$3M Grant for CSUF

Cal State Fullerton has been awarded a $3 million grant from the California Institute for Regenerative Medicine to continue its scholar program in stem cell research and regenerative medicine.

Developer Would Raze Los Al City Hall for Retail

REAL ESTATE: Lincoln owns 10-acre parcel next door

Lincoln Properties Co. is in talks to buy the Los Alamitos City Hall and municipal center, a 3.1-acre site on Katella Avenue where the developer plans to build a shopping center.

Hines Adds to Local Portfolio With Former Fisker HQ

REAL ESTATE: Plans makeover to stand out in Anaheim Canyon

Hines Interests LP has bought the former headquarters of Fisker Automotive and Technologies Group LLC in Anaheim, adding another office to its already sizeable base of buildings in North Orange County.

Device Maker Axonics Gets $38 Million

Irvine-based Axonics Modulation Technologies Inc. raised $38.5 million in Series B financing.

Business Journal Honors CFOs

Orange County’s top financial professionals were honored in five categories on Jan. 21 at the ninth annual Business Journal CFO of the Year awards dinner, which drew a crowd of about 600 to Hotel Irvine.