Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Billabong to Sell Swell.com in Irvine

Australia-based Billabong International Ltd. said it plans to sell its surf apparel retailer Swell.com in Irvine to a consortium of investors in a spinoff that also includes a 51% sale of SurfStitch, its other e-commerce business.

Texas Firm to Buy OC Device Maker

Aliso Viejo-based WaveTec Vision Systems Inc. will be bought by Alcon Inc., according to a statement.

Edwards Lifesciences Continues Wall Street Resurgence

Analysts Like Its Recent Showing, Suit Settlement

Irvine-based heart valve maker Edwards Lifesciences Corp. received kudos on Wall Street as it continues its yearlong market surge.

ViewSonic Shows Off HQ as It Makes OC Its Home

Brea Building Showcases Tech Firm’s Offerings

ViewSonic Corp.’s new 25,000-square-foot headquarters in Brea was designed to showcase the company’s new line of touch-screen projectors and virtual desktops that are drawing strong demand in the classroom and at businesses.

Furniture Maker Expands With $12.6M Fullerton Buy

Michael Nicholas Puts Buena Park HQ on Market

Michael Nicholas Designs Inc., a family-owned furniture manufacturer in Buena Park, is expanding its manufacturing operations after buying a big industrial building in Fullerton.

AllDigital Holdings CEO Dies Suddenly

Paul Summers, the chairman and chief executive of Irvine-based AllDigital Holdings Inc., has died unexpectedly.

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PacSun’s Shares Down on Q2 earnings, Q3 Forecast

Shares of Pacific Sunwear of California Inc. were down 4.3% in after-hours trading Thursday after the retailer said it anticipates a third-quarter loss between 4 cents and 9 cents a share, and revenue between $203 million and $208 million.

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Tilly’s Shares Fall on Q2 Numbers

Shares of Tilly’s Inc. fell 9% to about $7.70 and a market cap of about $212 million in after-hours trading Wednesday after the retailer posted a 70% drop in earnings for the second quarter that ended Aug. 2.

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Trial Date on Special Allergan Meeting Set

A Delaware Chancery Court judge today set a Oct. 6 date for a trial over the timing of a special meeting of Irvine-based Allergan Inc. shareholders.

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Aliso Viejo-Based Device Maker Sold

Aliso Viejo-based WaveTec Vision Systems Inc. will be bought by Alcon Inc., according to a statement issued today.

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NB Management Consultant Acquired

Beacon Resources LLC in Newport Beach has been acquired by Woodland Hills-based professional services firm DLC.

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Wisconsin Firm Hiring 700 in Brea

Alta Resources, a Neenah, Wis.-based business process outsourcing company, is planning to hire some 700 workers for its Brea facility.

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Allergan Sets Special Shareholder Meeting

Irvine-based Allergan Inc. will host a special shareholders’ meeting on Dec. 18, according to a court filing today.

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Corinthian to Sell Assets; Second Deal Blocked

Santa Ana-based Corinthian Colleges Inc. said it would sell some assets to raise money to fund the winding down of its operations but that federal regulators had blocked a second deal.

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Santa Ana Ed Marketer Gets $8M

Santa Ana-based Greenwood Hall Inc. said it received $8 million in debt and equity financing to “recapitalize” the company.

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Western Digital Taps New CFO

Irvine-based memory products maker Western Digital Corp. has named Amgen Inc. executive Olivier Leonetti its next chief financial officer.

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Patent Office Weighs in for Netlist

Shares of Netlist Inc. jumped Monday after the Irvine-based computer memory products maker announced it had prevailed in a long-running patent feud with a competitor in Santa Clara.

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Allergan Confirms Shareholder Meeting Request

Irvine-based Allergan Inc. has confirmed it received written requests from shareholders to call a special meeting requested by activist investor Bill Ackman’s Pershing Square Capital Management LP.

Downtown Santa Ana’s Next Act

Food Hall Latest Twist for East End

The developer who’s driving downtown Santa Ana’s makeover is doubling down on dining.

Lyon Communities Reaches Peak in Silicon Valley

REAL ESTATE: Tops price for big OC complexes by $100,000 per unit

A bet on Silicon Valley’s apartment market has paid off handsomely for Newport Beach-based Lyon Communities.

Ups & Downs for Allergan; Devil of a Case; Augie on Ice

Last week had some wags wondering if Allergan CEO David Pyott might be forced into an error by spending too much on an acquisition in hopes of putting the Irvine-based drug maker out of reach of hostile pursuers Valeant Pharmaceuticals and New York hedge funder Bill Ackman.

Security Firm Grows in Anaheim, SD

Anaheim-based Firstline Security Inc. has expanded its facilities in Orange County and San Diego in line with its fast-growing business.

Pennsylvania Firm to Buy Skilled Healthcare

Foothill Ranch-based Skilled Healthcare Group Inc. said it’s being bought in an all-stock deal by Kennett Square, Pa.-based Genesis HealthCare.

Restaurant Chain Receives Funding

Irvine-based restaurant chain and franchisor LYFE Kitchen received a minority investment from Carlisle Corp. and will move to that company’s Memphis, Tenn., headquarters, according to news reports.

Multimillion-Dollar Mobile Homes New Beachfront Niche

Most Potential Buyers Live Within 75 Miles of Coast

The waterfront home on North El Camino Real in San Clemente boasts all the accoutrements buyers expect from a house with a million-dollar-plus price tag: It has direct access to the beach, hardwood floors, exquisite tile work in the kitchen, high-end stainless appliances, a luxurious spa-like master bath, and floor-to-ceiling windows in the living room that frame the blue of the ocean just steps from the brand-new brick deck.