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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Golden State Foods Buys Salad Supplier in NZ

Irvine-based food manufacturer and distributor Golden State Foods Corp. has acquired a vegetable supplier in New Zealand.

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Wet Seal Opens ‘Plus’ Stores

Wet Seal Inc. said it will celebrate the opening of 31 Wet Seal Plus stores across the country on Aug. 16, including one Orange County location at The Shops at Mission Viejo.

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Real Mex Names Yum Vet CFO

Cypress-based Real Mex Restaurants Inc. said on Monday it named Laurie Lawhorne its new chief financial officer.

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Does Dual Dip Point to Diminished Prospects for Allergan Deal?

HEALTHCARE: Valeant bid valued just above target’s market value

Investor sentiment appears to be quietly moving away from the increasingly noisy takeover attempt of Irvine-based Allergan Inc.

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Sources Say Harrah Bids $27 Million for Register Building

REAL ESTATE: Lease-back an option for newspaper’s operations

Santa Ana developer Mike Harrah is closing in on a deal to buy the headquarters of the Orange County Register, according to sources.

Niagara Distributing Sells Delivery Routes to Nestlé

SERVICES: Peykoff family retains bottling operation in IE

Niagara Distributing LLC in Irvine has sold its home and office delivery routes to Glendale-based competitor Nestlé USA.

Pignatelli Resigns From Biolase Board

Federico Pignatelli, a director of Irvine-based Biolase Inc., resigned from the company’s board and withdrew his nomination for election at its upcoming annual meeting.

Confie Makes Trio of Brokerage Buys

Huntington Beach-based Confie Seguros Insurance Services Inc. acquired three brokerages to add to its growing list of offices nationwide. Terms were undisclosed for all three transactions.

Software Maker Bought By Texas Firm

A company in Austin, Texas, acquired San Clemente-based Benesan Corp., which makes specialized software for in-home, nonmedical patient care.

Luxury Market Embraces Multigenerational Homes

International Buyers Seek Private-Communal Combo

Overseas buyers are driving the latest luxury homebuilding trend: multigenerational living.

Allergan Keeps Analysts Busy On Possible Scenarios

Company Would Buy With Cash; Docs Eschew Valeant

Irvine-based Allergan Inc.’s ongoing attempt to beat back Valeant Pharmaceuticals International Inc.’s hostile takeover bid has provided plenty of grist for the analyst mill in recent weeks.

Smith Micro, Sprint Team to Boost Digital Art Training

Teachers Get Free Licenses for Students’ Designs

Sprint Corp. and Smith Micro Software Inc. have joined forces to groom the next generation of digital artists.

Sales Hot for Most Expensive Orchard Hills Homes

23 Have Sold for $50M+ In Just Two Months

Orchard Hills’ priciest homes have had strong sales since the Irvine development opened a little more than two months ago.

OC’s Wealthiest

Orange County’s wealthiest person has been putting a fair amount of his fortune back into his business over the past year—but we’re figuring that he’s still likely to have seen a boost to his bottom line of about $1 billion.

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Masimo Slides on Earnings Miss

Shares of Irvine-based Masimo Corp. fell sharply today, one day after its second-quarter results missed analysts’ forecasts.

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Buena Park Footwear Brand Sells Majority Stake

Evolv Sports & Designs LLC said Bruckmann, Rosser, Sherrill & Co. in New York acquired a majority stake in the Buena Park-based manufacturer of climbing footwear.

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Emulex Shares Rise on Quarterly Report, Outlook

Shares of Emulex Corp. rose in after-hours trading after the Costa Mesa-based networking equipment maker reported June quarter revenue and adjusted profits that beat Wall Street expectations and provided financial targets in the current quarter that were above estimates.

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Masimo Q2 Misses Forecasts

Irvine-based medical device maker Masimo Corp. today posted second-quarter results that missed Wall Street expectations.

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Advisory Firms Call for Allergan Special Meeting

Two proxy advisory firms now are backing activist investor Bill Ackman in his efforts to call a special meeting of Irvine-based Allergan Inc. shareholders as part of a hostile takeover bid from Valeant Pharmaceuticals International Inc.

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Laguna Hills Tech Company Gets $4M

OpenSignal, a technology startup in Laguna Hills, got $4 million in a recent funding round led by Qualcomm Ventures, the investment arm of San Diego-based chipmaker Qualcomm Inc.

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Pignatelli Resigns From Biolase’s Board

Federico Pignatelli, a director of Irvine-based Biolase Inc., said today he was resigning from the company’s board and withdrawing his nomination for election at its upcoming annual meeting.

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Confie Buys 3 Insurance Brokerages

Huntington Beach-based Confie Seguros Insurance Services Inc. has acquired three brokerages to add to its growing list of offices nationwide.

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San Clemente Software Company Acquired

An Austin, Texas company has acquired San Clemente-based Benesan Corp., which makes specialized software for in-home, nonmedical patient care.

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Ensign Group Buys Angeles Home Health Care

The Ensign Group Inc. in Mission Viejo has purchased Angeles Home Health Care of Los Angeles for an undisclosed amount.

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Tustin Engineering Firm Acquired

Tustin-based engineering firm Hall & Foreman Inc. has been acquired by David Evans and Associates Inc. in Portland.