Orange County Business Journal


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

Irvine-based Banc of California named James McKinney its chief financial officer as part of a shuffle that included appointments to newly created chief investment officer and chief strategy officer positions.

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Broadcom Shareholders Approve $37B Sale

Broadcom Corp. shareholders today approved the Irvine-based chipmaker’s $37 billion sale to Avago Technologies Ltd. in Singapore.

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Mobilitie Raises $325M in Debt Funding

Newport Beach’s Mobilitie LLC said that it had raised $325 million to fund the deployment of its wireless infrastructure projects.

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PMC Board Behind Microsemi Bid

Chipmaker Microsemi Corp.’s latest cash-and-stock bid to acquire PMC-Sierra Inc. has been deemed a “superior proposal” by the board of the Sunnyvale-based target company.

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Irvine Startup Gets $6M

Irvine-based startup Pop has raised $6 million in venture capital funding. The company develops a mobile application called POPin, which aims to provide a “crowd-solving” platform to enable input sharing among employees, customers and others.

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Kashkari Named Minneapolis Fed President

Neel Kashkari, former Pacific Investment Management Co. executive, has been named president of the Federal Reserve Bank of Minneapolis.

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WD, Unisplendour Form China JV

Irvine-based Western Digital Corp. will sell its data center storage systems through a joint venture with Beijing-based Unisplendour Corp. Ltd.

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NB Wealth Advisor in Two Buys

Newport Beach-based wealth management firm United Capital Financial Advisers LLC has completed two acquisitions.

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Habit Holders to Sell $137M in Shares

Shareholders of Habit Restaurants Inc. plan to sell up to 5.75 million shares for an estimated $137.7 million, a U.S. Securities and Exchange Commission filing shows.

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Montage to Manage Non-Branded $60M Hotel

Irvine-based Montage Hotels & Resorts will manage a $60 million hotel in Baltimore being developed by Kevin Plank, founder of apparel company Under Armour Inc., according to the Baltimore Business Journal.

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Hotels Drive Disney, Cedar Fair Results

The two companies that own and operate Disneyland Resort in Anaheim and Knott's Berry Farm in Buena Park reported higher revenue and income in their most recent quarters, driven partly by a strong hotel market.

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ICU Medical Beats Street

San Clemente-based ICU Medical Inc. today reported an adjusted third-quarter profit that beat analysts’ forecasts.

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Masimo Surpasses Expectations

Irvine-based Masimo Corp. today reported third-quarter results that exceeded Wall Street expectations.

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ChromaDex in Proctor & Gamble Deal

Irvine-based ChromaDex Corp. said today it signed a joint development deal with Cincinnati-based conglomerate Proctor & Gamble Co.

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Fluidmaster Buys in Turkey

San Juan Capistrano-based toilet tank component manufacturer Fluidmaster Inc. acquired Istanbul-based Key Teknik, a sanitary equipment business with a large market presence in the Middle East and Europe.

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Pimco Global Head of Product Management to Retire

Wendy Cupps, global head of product management at Pacific Investment Management Co., announced plans to retire at the end of the year.

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Habit Revenue, Earnings Up

Habit Restaurants Inc. in Irvine said after markets closed today that it earned $2.2 million on revenue of $58.6 million in its most recent quarter.

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LoanDepot Sets IPO Terms

LoanDepot Inc. has outlined details of its initial public offering, which appears to value the company at about $2.5 billion.

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PennySaver Expected Back Online

PennySaver will resurface as an online-only entity in the near future, according to the officials from MonetizeMore, a Victoria, Canada-based company that purchased the PennySaverUSA domains and other intellectual property in a bankruptcy auction held on Sept. 23.

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Irvine IT Provider Sold

Irvine-based IT provider Synoptek LLC has been acquired by San Francisco private equity firm Sverica Capital Management LLC.

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Soros Pulls $500M from Gross-Managed Fund

Billionaire hedge fund manager George Soros has reportedly pulled the $500 million investment he made about a year ago in a fund managed by Bill Gross at Janus Capital Group Inc.

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El Pollo Loco Maps North Texas

Costa Mesa-based El Pollo Loco Holdings Inc. has chosen the first six sites to start its expansion into North Texas next year, a news report said.

Fastest-Growing Public Companies Get Faster

Revenue Up 41%, Local Hires Double Overall Economy

Orange County’s fastest-growing public companies got faster this year.

Homebuilder Tops List After 2 Years Back in Public Market

Industry Watchers Speculate It Could Be Ripe for Consolidation Trend

Improving fortunes in the housing market and a disciplined operating plan have provided a boost to the fortunes of William Lyon Homes Inc. during its return to the public markets.

Endologix Pays Twice for Fellow Device Maker

HEALTHCARE: $211M deal trims market capitalization by 30% in day

Endologix Inc.’s bid to grow market share through a newly struck deal to acquire a competitor appears to have set investors in the Irvine-based medical device maker on edge.