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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Big Data Start-Up Gets $5M

Irvine-based Levyx Inc. closed $5.4 million in Series A funding.

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Broadcom Sells IoT Lines

Broadcom Ltd. has sold its Internet of Things business and related assets for $550 million to Cypress Semiconductor Corp. in San Jose

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Quality Systems Cutting Jobs, Restructuring

Irvine-based Quality Systems Inc. will cut 150 jobs, or about 6% of its U.S. workforce, as part of an operational realignment.

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Edwards Beats Estimates

Irvine-based Edwards Lifesciences Corp. today reported better-than-expected first-quarter profit and revenue.

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Anaheim Hotelier in 2nd SD Buy

An affiliate of Anaheim-based Marwaha Group Inc. bought the 94-room TownePlace Suites hotel in Vista from Carlsbad-based TMACK Melrose LLC for $15 million, according to CoStar Group and public data.

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Auction of Baseball Rules Sets Record

Baseball’s oldest rule book fetched a record $3.2 million this weekend as part of the 2016 Spring Premier auction run by Laguna Niguel-based SCP Auctions.

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PacMerc Posts 1Q Profit

Costa Mesa-based bank holding company Pacific Mercantile Bancorp reported net income of $284,000 for the quarter ended March 31.

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Opus 1Q Profit Up 56%

Irvine-based Opus Bank posted $17.3 million in first-quarter net income, up 56% from the same period a year earlier.

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PHG to Add 145 Rooms in Napa

Irvine-based Pacific Hospitality Group plans to break ground April 29 on a four-story, 145-room hotel across the street from its Meritage Resort & Spa in Napa, according to a local news report.

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BJ’s Profit Up 21%

Shares in Huntington Beach-based BJ’s Restaurants Inc. jumped about 9% to a market cap of $1.1 billion in Friday morning trading following a positive quarterly report after markets closed yesterday.

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Allergan Makes $85M Buy

Allergan Plc bought Topokine Therapeutics for $85 million and certain milestone payments.

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Acorns Raises $30M Series D

Irvine-based Acorns Grow Inc. raised $30 million in Series D funding that includes investments from Palo Alto-based PayPal and Rakuten Fintech Fund, the investment arm of an e-commerce company in Tokyo.

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PacPremier Profit, Loans, Deposits Up

Shares in Irvine-based Pacific Premier Bancorp Inc. closed up 1.7% to $21.68 and a market cap $597 million after the company reported first quarter net income of $8.6 million, a 387% increase from the same period a year ago.

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Chinese Company Buys in Santa Ana

Santa Ana-based point-of-sale terminal maker ExaDigm Inc. merged on undisclosed terms with Shenzhen Xinguodu Technology Co., Ltd., a China-based maker of POS systems and electronic payments products.

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Kaiser Aluminum Misses on Revenue

Shares in Foothill Ranch-based Kaiser Aluminum Corporation close down about 1% to $86.58 and a market cap of $1.6 billion after the company reported first quarter net income of $26 million.

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Busch Family Gives $15M

The Busch Family Foundation in Irvine gave $15 million to Catholic University of America, news reports said.

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SJC Company Buys in Europe

San Juan Capistrano-based toilet component maker Fluidmaster, Inc. acquired on undisclosed terms WISA BV, a restroom components designer and maker in the Netherlands.

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Santa Margarita Toyota Sold

Jim Graham, owner of Santa Margarita Ford, acquired Santa Margarita Toyota from John Dinsmore.

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Unemployment Unchanged

Orange County added 8,800 jobs in March to maintain a 4% unemployment rate.

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Stone Firm Enters Two States

Anaheim-based Bedrosians bought Oregon Tile & Marble, in Medford, Ore.

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Anaheim Food Co. Names CEO

Anaheim-based food maker Nellson Nutraceutical named Jamie Better its Chief Executive.

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Opus Makes $104M Buy

Irvine-based Opus Bank bought PENSCO Trust Company, an IRA services firm in San Francisco, in a cash and stock deal worth about $104 million.

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Johnny Rockets in Rebranding

Johnny Rockets Restaurant Group plans to recast the retro burger chain for a changing customer base.

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Appraiser Buys in Reno

Orange-based real estate appraisal company LRES acquired InsideValuation, a commercial and residential appraisal company in Reno, Nevada, on undisclosed terms.

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Textile Maker Sold to Ohio PE Firm

Irvine-based textile supplier Momentum Group has been acquired on undisclosed terms by private equity company the Riverside Company, which is headquartered in Cleveland, Ohio.