FINANCE

OCTANe Pivots to Later-Stage Cos.

Plans to Move Upmarket And Grow Reg’l Presence

OCTANe was created in 2002 to bring together resources, expertise and capital to help grow biomedical and information technology startups.

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Online Bank CalFirst to Voluntarily Delist From Nasdaq

FINANCE: Compliance costs cited for move to OTCQX

Troubled California First National Bancorp in Irvine is giving up on Wall Street’s main stage, citing regulatory costs.

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New Owners for Costa Mesa’s Triangle, $55M Sale

REAL ESTATE: Caps $150M in deals for Greenlaw Partners

The Triangle, the Costa Mesa entertainment center that’s home to some of the city’s busiest nightspots, restaurants and other venues, has been sold to a Los Angeles-based real estate investor who’s no stranger to the dating scene.

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Hoag Orthopedic Taps St. Joseph Hoag CFO to Lead

HEALTHCARE: Plans to partner to grow outpatient care

Irvine-based Hoag Orthopedic Institute, a unique for-profit joint venture comprised of two groups of orthopedic surgeons and a nonprofit hospital, is positioned for growth with a new chief executive at the helm.

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CalChoice Seeks to Remain Competitive on Price

Launch Rate Parity Plan From Kaiser Next Year

The current healthcare bill debate primarily impacts the individual market, but uncertainty remains for insurers and carriers.

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Allergan Q3 Beats, Street Not Impressed

Allergan PLC grew sales by 11% in the third quarter, led once again by its flagship drug BOTOX.

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Broadcom Buying Qualcomm?

Broadcom Ltd. is exploring a bid for San Diego-based Qualcomm Inc., according to news reports.

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HCP to Reduce Brookdale Concentration

HCP Inc. fronted its quarterly earnings report by giving some specific ways it will cut from 27% to about 16% the amount its Brookdale Senior Living unit contributes to earnings.

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Clean Energy Tanks on Q3

Shares of Clean Energy Fuels Corp. (Nasdaq; CLNE) plummeted in afterhours trading after the Newport Beach company reported a steep sales drop and loss for the third quarter, and a big charge-off related to underperforming and unprofitable stations.

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AutoWeb Revenue, Earnings Down

AutoWeb Inc. in Irvine had net income of $100,000 on revenue of about $37 million in its most recent quarter, down from adjusted net income of $2.6 million on adjusted revenue of about $42 million in the same period last year.

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Masimo Reports Strong Q3, Guides Higher

The Irvine device maker reported total revenue of $193.7 million, including $12.4 million in royalties and other revenue, up more than 15% from the same period a year ago.

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Broadcom Charter to Delaware

Chipmaker Broadcom Ltd. plans to move its official headquarters to the U.S. from Singapore, the company announced today at a press conference that included Broadcom Chief Executive Hock Tan and President Donald Trump.

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El Pollo Loco Q3 Mixed

El Pollo Loco Holdings Inc. in Costa Mesa reported a net loss of $4 million on revenue of about $101 million in its most recent quarter, compared with net income of about $5 million on revenue of $96 million last year.

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Resources Connection Makes $19M Buy

Resources Connection Inc. (NASDAQ: RECN) in Irvine bought Accretive Solutions Inc. in Chicago for $19.4 million and 1.15 million shares of restricted common stock.

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HVAC Firm Buys Into Wis.

CoolSys in Brea bought Certified Refrigeration and Mechanical Inc. in Madison, Wis., on undisclosed terms.

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CareTrust Buys SoCal Skilled Nursing Assets

San Clemente-based CareTrust REIT Inc. acquired a three-facility 529-bed skilled nursing portfolio in Southern California from Providence Group for $69 million. The portfolio will yield approximately $6.1 million in initial annual cash rent.

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Most OC Carmakers Down in October

Most OC-based automakers saw lower car sales in October and year-to-date.

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Ducommun Q3 Mixed, Invokes Restructuring

Santa Ana-based Ducommun Inc. reported mixed results for the third quarter and announced a restructuring plan.

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LoanDepot Starts JV

LoanDepot LLC, the nation’s second largest non-bank consumer lender, announced a joint venture with OfferPad, a real estate investment company, to speed up the process of mortgage approval.

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Habit Revenue Up, Profit Down

Habit Restaurants Inc. for its most recent quarter reported revenue up about 18% but earnings were cut in half.

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Lennar Buys CalAtlantic

CalAtlantic Group Inc. in Irvine is being purchased by Lennar Corp. in a $9.3 billion deal, one of the largest on Wall Street this year.

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Microsemi in $130M Strategic Buy

Aliso Viejo-based Microsemi Corp. has reached a deal to acquire the timing device business of Vectron International for $130 million.

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St. John Cuts Include Boutique

St. John Knits International Inc. will cut 72 jobs in Irvine effective December 11, according to a Worker Adjustment and Retraining Notification it filed with the state Employment Development Department.

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BJ’s: Revenue Up, Earnings Down

BJ’s Restaurants Inc. in Huntington Beach reported revenue of $247 million in its most recent quarter, up about 6% year-over-year. Net income was $2.4 million—down two-thirds from the same period last year, when net income was $7.2 million.

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Record Grant for Vanguard

Vanguard University in Costa Mesa has been awarded a five-year, $3.75 million grant through the U.S. Department of Education’s Developing Hispanic-serving institutions program.

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