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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UCI Set for $3M to Study Jains, Sikhs

University of California-Irvine confirmed two $1.5 million donation agreements to endow chairs in studies of Sikhs and Jains signed last week in Buena Park at the Jain Center of Southern California.

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Banc of CA CFO to Leave

The chief financial officer of Irvine-based Banc of California is stepping down, according to a document filed with the Securities and Exchange Commission.

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$749M in Hotel Sales in First Half of 2015

Eleven Orange County hotels sold for a total of $749 million in the first half of 2015, according to Irvine-based Atlas Hospitality Group’s mid-year survey of hotel sales.

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Toba Backs Software Startup

Newport Beach-based venture capital firm Toba Capital has partnered with an information technology company to invest $20 million in WSO2, a software developer in Mountain View.

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El Pollo Loco Down on Revenue Miss

Costa Mesa-based El Pollo Loco Holdings Inc. shares fell more than 18% in midday trading after the company reported quarterly revenue yesterday that was below analyst expectations.

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Habit to Enter Idaho

Irvine-based Habit Restaurants Inc. will debut in its seventh state with a restaurant opening this year in Meridian, Idaho, a news report said.

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WD Names New Chairman

Former Western Digital Corp. Chairman and Chief Executive Matthew Massengill will regain the top board seat following the retirement of Tom Pardun later this year, the Irvine-based storage products maker announced.

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Irvine Brewery Set to be Sold

Evans Brewing Co. Inc. in Santa Ana said in a regulatory filing it plans to buy Bayhawk Ales Inc. in Irvine and to exchange shares in Evans, one-for-one, for those in Bayhawk.

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Microsemi Donates $1M to Chapman

Aliso Viejo-based semiconductor maker Microsemi Corp. has given $1 million to Chapman University to support a center set to open in 2018 as part of the Orange-based school’s new Schmid College of Science and Technology.

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Wet Seal Has New CEO

The Wet Seal LLC in Foothill Ranch named Melanie Cox its new chief executive.

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JenaValve Nabs $26.5M Financing

Irvine-based startup device maker JenaValve Technology Inc. said today it completed a $26.5 million found of financing.

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Marriott Boutique Hotel for SJC

Rivendell Land Co. said Marriott International will operate Mission Inn San Juan Capistrano, which is set to break ground by early 2016.

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Autobytel Shares Up On Q2

Shares in Autobytel Inc. in Irvine rose in midday trading as the company surpassed Wall Street’s expectations on revenue for the second quarter of fiscal 2015 ended June 30.

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LH Software Company Gets $3.5M

Laguna Hills-based Centercode Inc. has received $3.5 million in equity financing, according to a filing with the Securities and Exchange Commission.

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UCI Physician Receives $3.1M Grant

UC Irvine Health, the medical enterprise of the University of California-Irvine, said today that Dr. Shaista Malik received a five-year, $3.1 million grant from the National Institutes for Health’s National Heart, Lung and Blood Institute.

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Del Taco Resets $164M Debt

Lake Forest-based Del Taco Restaurants Inc. refinanced $164 million in debt under a new five-year, $250 million credit facility, cutting its borrowing costs by 3 percentage points and its annual interest payments by $5.4 million.

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Clean Energy Misses Q2 Targets

Newport Beach-based Clean Energy Fuels Corp. reported revenue and adjusted profits in the second quarter that missed Wall Street expectations.

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Juice, Food Chain Sets SoCal Growth

Scottsdale-based fast food and juice chain Grabbagreen said it signed an area developer agreement with Oceanside-based ConeHead Investments Inc. for 95 locations in Southern California, including 15 to 20 restaurants in Orange County.

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Habit Shares Down on Mixed Q2

Shares in Irvine-based Habit Restaurants Inc. fell about 7.5% in midday trading Thursday to a market cap of $750 million after a mixed quarterly report Wednesday.

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Disney, Knott’s Owners Post Quarterly Results

The Walt Disney Co. and Cedar Fair Entertainment Co.—owners respectively of Disneyland Resort and Knott’s Berry Farm—posted strong quarterly numbers in reports released after markets closed Tuesday.

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Masimo Q2 Beats Projections

Irvine-based patient monitor maker Masimo Corp. today topped Wall Street forecasts with its second-quarter financial results.

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Boot Barn Misses on Earnings

Boot Barn Holdings Inc. on Tuesday after markets closed reported an increase in revenue but fell below Wall Street’s expectation on earnings for the June quarter.

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Newport Corp. to Cut Jobs

Newport Corp. will lay off workers and take other cost cutting measures, the Irvine-based company announced at the close of intraday trading Tuesday, after missing revenue and profit targets for the June quarter.

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First Foundation to Raise $100M

Irvine-based First Foundation Inc. has kicked off an initial public offering of its common stock for $100 million.

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Ensign Buys in Wisconsin

Mission Viejo-based Ensign Group Inc. said today that it bought 15 assisted living facilities in the suburbs of Milwaukee and other areas in Wisconsin.