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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Clean Energy Shares Fall on Missed Targets

Shares of Clean Energy Fuels Corp. were down about 2% in midday trading Tuesday after the Newport Beach-based company reported first-quarter revenue and adjusted profits that missed Wall Street expectations.

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Asset Manager Takes Habit Stake

New York City-based asset management firm AllianceBernstein LP disclosed in a regulatory filing a 12.7% stake in Irvine-based Habit Restaurants Inc.

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LoanDepot Doubles Space, Plans to Hire 1,000

Foothill Ranch-based mortgage lender loanDepot LLC has doubled its Orange County office space to more than 238,000 square feet to accommodate its growing direct-lending center.

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Del Taco Revenue, Income, Buyer's Shares Up

Shares in the company that plans to buy Lake Forest-based Del Taco Holdings Inc. rose about 5% in early trading today as the Mexican-themed fast food chain reported first quarter earnings up about 33% on revenue up about 9%, compared with the same period last year.

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Tribune in Deal for SD Paper

Chicago-based Tribune Publishing Co., the parent of the Los Angeles Times, said it entered into agreement to buy U-T San Diego for $85 million in a cash-and-stock deal.

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Tribune to Buy SD Paper

Chicago-based Tribune Publishing Co., the parent of the Los Angeles Times, said it entered into agreement to buy U-T San Diego for $85 million in a cash-and-stock deal.

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Too Faced to Estée Lauder?

Estée Lauder Cos. has surfaced among the bidders for Too Faced Cosmetics LLC in Irvine, according to Women’s Wear Daily.

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Too Faced to Estée Lauder?

Estée Lauder Cos. has surfaced among the bidders for Too Faced Cosmetics LLC in Irvine, according to Women’s Wear Daily.

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Blizzard Posts Big Subscription Drop

Irvine-based video game maker Blizzard Entertainment Inc. reported a big loss of online subscribers for its flagship World of Warcraft franchise that led to a steep drop in first-quarter revenue and operating profits.

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iPourIt Gets $350K, Dog Haus

Lake Forest-based iPourIt Inc. said its self-serve beer dispensing system would be in two Dog Haus restaurants in Orange County, and that it closed on an additional $350,000, after a $1 million angel investment from January.

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Disney's Parks Revenue Up

The Disneyland Resort in Anaheim helped drive a quarterly increase in revenues at Burbank-based parent Walt Disney Co., the company said.

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Ingram Micro Q1 Mixed

Santa Ana-based Ingram Micro Inc. after the close of trading today reported first-quarter revenue that just beat Wall Street expectations, and adjusted profits that narrowly missed estimates.

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Pimco’s Total Return Loses ‘Biggest’ Title

Pacific Investment Management Co.’s signature fund, the Total Return, is no longer the world’s biggest bond fund.

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Banc of CA Posts Q1 Profit

Irvine-based Banc of California Inc. swung to a profit in the first quarter, logging $11.7 million in net income versus a loss of $161,000 in the same period last year.

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Corinthian Files for BK

Santa Ana-based Corinthian Colleges Inc. filed for bankruptcy, the company said.

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Vans, Parent Revenue Up in Q1

Vans Inc. revenue was up 8% for the first quarter ended April 4, according to its parent, Greenboro, N.C.-based VF Corp., whose revenue also rose.

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Morgan Drexen Files for BK

Costa Mesa-based debt settlement services company Morgan Drexen Inc. has filed for bankruptcy.

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Ensign Buys 3 Nursing Facilities

Mission Viejo-based Ensign Group Inc. said today it bought one skilled nursing facility in Washington and a subsidiary bought two skilled nursing facilities in Utah, on undisclosed terms.

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22 Del Taco Sites to Sell

A number of limited partnerships plan to sell four portfolios of land and buildings that house a total of 22 Del Taco fast food restaurants in California, according to Newport Beach-based CBRE, the listing broker for the portfolios.

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Habit Revenue, Income Up

Shares in Irvine-based Habit Restaurants Inc. were up about 4% in midday trading Friday to a market cap of $850 million after the company reported it earned $3 million in its most recent quarter, an increase of 20% over $2.5 million in the same period last year.

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UCI Gets Up To $5 Million for Blood Work

University of California-Irvine said it will get up to $5 million over five years from the federal National Institute of Allergy & Infectious Diseases to further develop a bloodstream infection-detection system that speeds diagnosis times and improves accuracy.

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American Vanguard Buys Herbicide Unit from DuPont

American Vanguard Corp., a Newport Beach-based maker of agricultural chemicals, has through its Netherlands-based international subsidiary, acquired the assets of an herbicide business from E. I. du Pont de Nemours and Co.

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Bernanke Joins Pimco

Pacific Investment Management Co. has tapped former Federal Reserve Chairman Ben Bernanke as a senior adviser.

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Oakley Taps Raj in Swimwear Deal

Oakley Inc. selected Raj Manufacturing LLC in Tustin to develop, manufacture and distribute its women’s swimwear worldwide.

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Crowdfunded Hotel Investor Plans to Raise $2 Million

Newport Beach-based Hotel Innvestor LLC plans to use crowdfunding to raise about $2 million.