FINANCE

Fitch Raises Toll Road Agency Rating

Fitch Ratings upgraded $2.19 billion in debt of the San Joaquin Hills Transportation Corridor Agency, citing rising traffic and revenue.

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UCI Wealth Management Center Picks New Director

Christopher Schwarz has been named director of the Center for Investment and Wealth Management at the University of California-Irvine, replacing Andy Policano.

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PHILANTHROPY

The inaugural Heroes & Living Legends Gala, held on July 17 at The Duke Hotel in Newport Beach, brought together more than 200 business leaders, sponsors and supporters to help raise $729,000 to benefit Open Gate International, which provides vulnerable populations with vocational training for long-term economic stability.

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Willdan Buys Data Firm

Willdan Group Inc. in Anaheim bought Integral Analytics Inc. in Cincinnati.

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Allergan Q2 Strong, Raises Guidance

Allergan plc reported revenue of $4 billion for its most recent quarter, up 9% year-over-year and driven primarily by its Irvine-based aesthetic portfolio that includes Botox and dermal filler Juvederm.

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Panattoni Plans 1M SF Center in Va.

Panattoni Development Co. in Newport Beach bought 62 acres in Richmond, Va., to build a 1-million-square-foot distribution center, a local news report said.

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Emerald Posts Mixed Q2

Shares of Emerald Expositions Events Inc. are down 4% to $21 and a market value of about $1.52 billion after the San Juan Capistrano-based trade show operator posted revenue for the June quarter below Wall Street expectations.

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Ten-X to Sell for $1B+

Ten-X LLC in Irvine will be bought by private equity firm Thomas H. Lee Partners LP in Boston for more than $1 billion, news reports said.

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Callaway Buys Surf City Sportswear Maker

TravisMathew LLC in Huntington Beach was sold to Carlsbad-based Callaway Golf Co. in a $125.5 million cash-and-debt deal expected to close in the third quarter.

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Masimo Beats Q2, Stock Slides 9%

Masimo announced strong second quarter results, total revenue rose 11.8% from $172.6 million to $192.9 million, including royalties. Product revenue rose 11.1% to 182.8 million.

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American Vanguard Beats, Shares Pop

Shares of American Vanguard Corp. rose about 16% over the last two trading sessions to more than $20 apiece and a $613 million market cap after the company’s second-quarter profits exceeded Wall Street forecasts.

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Alteryx Shaves Loss on Revenue Gain

Shares of Irvine-based Alteryx Inc. were up more than 15% to a $1.3 billion market cap in after-hours trading on improved quarterly numbers reported after markets closed Wednesday.

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Boot Barn Up in Q1

Shares of Boot Barn Holdings Inc. rose about 17% to $9 and a $242 million market cap during Wednesday trading, after the company reported revenue and profits for the June quarter that beat Wall Street expectations.

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Senior Living Dampens HCP Q2

Irvine-based healthcare real estate investment trust HCP Inc. reported funds from operations—FFO, the REIT equivalent of earnings—of $0.35 per share, down from $0.51 per share in the first quarter and $0.71 per share a year ago.

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CombiMatrix Sells for $33M

CombiMatrix Corp. in Irvine said it will be bought by Invitae Corp. in San Francisco for $33 million in stock.

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Western Avionics Bought

Mike Manclark bought Santa Ana-based Western Avionics Inc. with plans to rename it and expand its services in Southern California.

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Toll Road Rating Raised

Fitch Ratings upgraded $2.19 billion in debt of the San Joaquin Hills Transportation Corridor Agency, citing rising traffic and revenue.

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NB Property in Record $55M Sale

A 3.5-acre Newport Beach property overlooking the harbor sold for an Orange County record of $55 million.

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Ubiquity Agrees to Stock Revocation

Irvine-based Ubiquity Inc. has agreed to the Securities and Exchange Commission’s division of enforcement’s recommendation that its stock be revoke

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Edwards Q2 Beats Expectations

Irvine-based Edwards Lifesciences Corp. reported $186 million in profit on sales of $842 million—up 47% and 11% respectively—for the quarter ended June 30.

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Apparel Brand Posts Mixed Results

Costa Mesa-based Volcom Inc. posted $123.2 million in revenue for the first half of 2017, a 4.4% decrease compared to the same period last year, according to Kering, its Paris-based parent.

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Sunstone Buys Key West Resort

Aliso Viejo-based Sunstone Hotel Investors Inc. has paid $175 million for a newly-built resort property in Key West, Fla.

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Fish House Files Furlough Notice

King’s Fish House in Laguna Hills plans a temporary layoff of 92 workers, according to a Worker Adjustment and Retraining Notice (WARN) it filed with the state Employment Development Department July 17.

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United Capital Buys 3 Firms

United Capital Financial Advisers LLC of Newport Beach said it bought three wealth advisory firms with a combined $758 million in assets under management and offices in four states.

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Incubator Gets $4.5M for Okami

Aliso Viejo-based Inceptus Medical LLC said it helped Okami Medical Inc. raise a $4.5 million series B financing from U.S. Venture Partners in Menlo Park and other individual investors.

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