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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Taco Bell to Open First Store in China

Irvine-based Taco Bell Corp. is planning to open its first store in Shanghai, China by the end of the year.

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Aliso Viejo Device Maker Gets $3.8M

Aliso Viejo-based Focal Therapeutics Inc. has raised about $3.8 million in venture capital, according to a Securities and Exchange Commission filing.

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OC Resorts Have New China-Based Owner

Two luxury hotels in Orange County – the Montage Laguna Beach in Laguna Beach and the Ritz-Carlton Laguna Niguel in Dana Point—have a new China-based owner.

Ubiquity Says New Licensing Deal a ‘Turning Point’

Software Agreement Could Help Reverse 2-Year Slide

Irvine-based Ubiquity Inc. has signed its first major licensing agreement to integrate its operating system software after years of development and patent approvals.

Real Estate Real

Sales and leases of offices, industrial buildings, retail space and apartments

Hamilton Center, a multitenant shopping center in Huntington Beach, was sold for $3.3 million, or about $485.29 per square foot.

Steve Harvey Hatches Partnership on Branded Eggs

Comedian Partners With San Juan Startup

Comedian Steve Harvey recently announced that he and business partner Greg Calhoun have teamed up with San Juan Capistrano-based TEN Ag Tech to launch a line of food products under the brand name Just Ordinary.

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Freedom Auction Gets Stalking Horse

Digital First Media’s $45.5 million offer has been selected as the stalking horse, or starting, bid for Wednesday’s bankruptcy auction of Freedom Communications Inc. in Santa Ana.

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PIMCO to Get Allianz Overseer

Newport Beach-Based Pacific Investment Management Co. will have a new “overseer” on July 1.

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Moe’s Plans 13 OC Sites

Moe’s Southwest Grill said a franchisee will open 13 restaurants in Orange County over the next several years.

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Cottage Cheese Maker Gets $2M

Irvine-based Good Culture LLC got $2.1 million in seed funding led by Cavu Venture Partners in New York City with participation from 301 Inc. in Minneapolis.

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Carl’s Jr. Parent to Nashville

CKE Restaurants Inc.— based in Carpinteria, Calif., near Santa Barbara, but with a sizable presence in Anaheim, where it has its roots—is moving its headquarters to Nashville.

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Taylor-Dunn Acquired

Minneapolis-based Polaris Industries Inc. acquired Taylor-Dunn Manufacturing Co. in Anaheim on undisclosed terms.

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Bridgford Reports $2 Million Profit

Shares in Anaheim-based Bridgford Foods Corporation jumped 9.9% to $10 per share and a $91.8 million market cap.

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Unemployment Drops; Jobs, Too

Orange County’s nonseasonally adjusted unemployment rate dropped from 4.1% to 4% in January as the U.S. Department of Labor’s annual review said the county lost 30,300 jobs, said the California Employment Development Department.

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PacSun Hires Restructuring Specialist

Pacific Sunwear of California Inc. has hired Washington, D.C.-based restructuring firm FTI Consulting Inc. and investment bank Guggenheim Securities in New York to deal with $160 million in debt payable at the end of this year, according to The Wall Street Journal.

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Clean Energy Reports Losses

Newport Beach-based Clean Energy Fuels Corp. reported lower annual revenue and income and its stock declined in trading Friday.

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Habit Falls on Weak Guidance

Irvine-based Habit Restaurants Inc. shares fell about 10% to a market cap of $508 million in heavy trading after the fast causal burger chain issued lower than expected guidance for this year.

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Willdan Acquires NY Consultant

Anaheim-based engineering consultant Willdan Group Inc. plans to acquire Pelham, N.Y.-based Genesys Engineering PC on undisclosed terms in a deal expected to close this month.

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HB Hilton in $140M Deal

The Waterfront Beach Resort, a Hilton Hotel in Huntington Beach put together a $140 million financing and land acquisition deal for its long-planned expansion.

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Peregrine Drops Trial; Shares Crash

Shares of Tustin-based drug developer Peregrine Pharmaceuticals Inc. fell sharply today, a day after the company said it would discontinue a third-phase clinical trial.

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Hotel Sales Dollars Doubled in 2015

Fewer hotels sold for more money last year in Orange County.

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Pacifica Adds to Cambria Holdings

Irvine-based Pacifica Hotels bought the San Simeon Pines Seaside Resort in Cambria, Calif.

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Gaming Products Maker Gets $75M

Irvine-based Razer Inc. sold a 5% stake in the gaming technology company for $75 million to China-based LianLuo, an affiliate of Hangzhou Liaison Interactive Technology, news reports and Hangzhou said.

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Masimo Q4 Profits, Revenues Up

Irvine-based patient monitor maker Masimo Corp. today reported financial results.

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Newport Corp. Bought for $980M

Irvine-based Newport Corp. has agreed to a $980 million all-cash sale to Massachusetts-based MKS Instruments. The deal is expected to close in the second quarter.