March 18
AUTOMOTIVE
Irvine-based electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) rose 4.5% to $11.50 for a market cap of $13 billion. The company’s “long-term trajectory remains intact” despite near-term headwinds, according to Benchmark analysts. The company has also been gaining as Elon Musk’s Tesla stock declines.
SEMICONDUCTORS
Indie Semiconductor Inc. (Nasdaq: INDI) of Aliso Viejo fell 8% to $2.29 per share for a market cap of $463 million, following the tech-heavy Nasdaq lower. Shares of chipmaker Nvidia (Nasdaq: NVDA) dropped 2.1%.
MARKETS
The S&P 500 was down 1.1 % to 5,611.12.
Nasdaq slid 1.5% to 17,534.05.
Gold was up 1.1% at $3,039.30.
–Kevin Costelloe
—
March 17
FRANCHISING
Irvine-based Xponential Fitness Inc. (NYSE: XPOF) jumped 21% to $9.02 apiece with a market cap of $447 million, recovering from an almost 40% plunge last Friday after reporting fourth-quarter results that disappointed investors of the fitness studio franchisor.
FINANCE
Loandepot Inc. (NYSE: LDI) increased 9.1% to $1.50 and a market cap of $491 million. Shares of the non-bank provider of mortgages are also recuperating from a double-digit drop last week following its fourth-quarter financial results on top of a change in CEO.
See this week’s issue of the Business Journal to read more about LoanDepot Inc.
INDEXES
The Dow 30 increased 1% to 41,908.65 during midday trading.
EMPLOYMENT
- Hearthside Food Solutions is permanently closing its Anaheim facility at 1153 Ocean Circle, impacting 175 employees and effective by April 27, according to Worker Adjustment and Retraining Notification Act (WARN) report.
–Emily Santiago-Molina
March 14
FITNESS
Xponential Fitness Inc. (NYSE: XPOF) plunged 38% to $7.52 with a market cap of $363.3 million. Shares of the Irvine-based franchisor of fitness centers fell after the company reported fourth quarter losses and lowered expectations for 2025 during its March 13 earnings call.
RESTAURANTS
GEN Restaurant Group Inc. (Nasdaq: GENK) jumped 9.8% to $6.20 with a market cap of $205.1 million. The board of directors of the Cerritos-based casual dining concept for Korean barbecue, which got its start in Tustin, announced a stock repurchase program. The program authorizes GEN Restaurant Group to repurchase up to $5 million of its outstanding Class A common stock.
MEDTECH
Shares of Glaukos Corp. (Nasdaq: GKOS) increased 5.5% to $101.94 with a market cap of $5.8 billion. Analysts expect the Aliso Viejo-based manufacturer of eye treatments to grow based on favorable clinical trials and its positive production pipeline.
MARKETS
Nasdaq is up 2.4% to 17,710 and the Dow jumped 1.7% to 41,486.
-–Parimal M. Rohit
March 13
RETAIL
Shares in Tilly’s Inc. (NYSE: TLYS) dropped 30% to $2.33 and a $70.1 million market cap after yesterday’s “disappoint[ing]” fourth quarter results, according to Chief Executive and President Hezy Shaked. The Irvine-based retail chain reported that net sales decreased 15% to $147.3 million, while full-year sales fell 8.6% to $569.5 million.
PHARMACEUTICALS
Tarsus Pharmaceuticals Inc. (Nasdaq: TARS) fell 3.4% to $45.49 and a $1.7 billion market cap. The Irvine-based maker of medication to treat eyelid inflammation today announced the pricing of an upsized $125 million public offering. It’s offering 2.8 million shares of its common stock priced at $44.50 per share.
INDEXES
The Nasdaq fell 1.6% to 17,360.19. Gold increased 1.5% to $2.989.90. Crude oil fell 1.2% to $66.85 a barrel. Indexes fell as President Trump threatened Europe with more tariffs, the Wall Street Journal reported.
–Yuika Yoshida
March 12
FRANCHISING
Shares of Xponential Fitness Inc. (NYSE: XPOF) fell 8% to $12.45 with a $601.4 million market cap. The Irvine-based boutique fitness chain plans to release fourth quarter and full-year earnings for 2024 on Thursday. Analysts expect fourth quarter revenue of $81.12 million, down 10% from $90.19 million a year ago for the same period. Yesterday, the Irvine-based company said CEO Mark King and CFO John Meloun will participate in the 37th Annual Roth Conference, held March 17-18 in Dana Point.
FINANCE
Shares of Irvine-based LoanDepot (Nasdaq: LDI) dropped by 16% to $1.35 apiece with a market cap of $439.8 million. The company, one of the nation’s largest non-bank providers of mortgages, reported a Q4 net loss of $67 million, up from a $60 million loss in the prior year. Fourth quarter revenue increased 13% to $257 million. Last week, the company said Frank Martell will step down as chief executive effective June 4.
For more details on loanDepot, see the March 17 issue of the Business Journal.
INDEXES
Nasdaq is up 1.6% to 17,715.58. Crude oil is up 2.4% to $67.82 a barrel.
–Nancy Luna
March 11
SEMICONDUCTORS
Irvine-based chip company Skyworks Solutions Inc. (Nasdaq: SWKS) fell 6% to $67.80 per share for a market cap of $11 billion, giving back some of the 8.5% gain registered on March 7.
HEALTHCARE
Staar Surgical Co. (Nasdaq: STAA), the Lake Forest-based maker of implantable lenses, decreased 7% to $18.27 per share for a market cap of $902 million. Volume was over the daily average. The company faces declining sales in China.
–Kevin Costelloe
March 10
MEDICAL DEVICES
Lake Forest-based Staar Surgical Co. (Nasdaq: STAA) jumped 12% to $20.50 apiece with a market cap of $1 billion. Shares of the maker of implantable eye lenses were up almost 20% since announcing Stephen C. Farrell as its new chief executive on Feb. 26, who replaced Tom Frinzi after two years.
See this week’s issue of the Business Journal to read more about Staar Surgical and its new CEO.
HEALTHCARE
ICU Medical Inc. (Nasdaq: ICUI) decreased 7.7% to $130.98 with a market cap of $3.2 billion. The San Clemente firm reported 2024 fourth quarter results and 2025 annual guidance in February that caused mixed reactions among analysts, who are now estimating revenue of $2.34 billion for the year showing a 1.66% decrease.
Evolus Inc., headquartered in Newport Beach (Nasdaq: EOLS), fell 9.8% to $12.28 and a market cap of $779 million. Shares of the medical aesthetics firm were down around 14% since reporting 2024 fourth quarter results on March 4.
INDEXES
The S&P 500 fell 2.4% to 5,629.28, the Dow 30 decreased 1.4% to 42,193.92 and the Nasdaq is down 3.9% to 17,485.03 during midday trading. Markets are down because President Trump said his economic agenda could cause short-term turbulence, according to the Wall Street Journal.
The yield on a 10-year Treasury bond fell 1.97% to 4.232%.
–Emily Santiago-Molina
March 7
ENGINEERING
Shares of Willdan Group Inc. (Nasdaq: WLDN) increased by 24% to $39.92 with a market cap of $562 million. The Anaheim-based engineering consulting firm reported higher-than-expected adjusted earnings and revenue for its fourth quarter. The company’s outlook for 2025 also beat Wall Street forecasts.
RESTAURANTS
GEN Restaurant Group Inc. (Nasdaq: GENK) jumped 32% to $6.72 with a market cap of $223.7 million. The Cerritos-based casual dining concept for Korean barbecue reported year-over-year increase for its fourth quarter and positive growth for the first two months of 2025.
–Parimal M. Rohit
March 6
TECHNOLOGY
Broadcom Inc. (Nasdaq: AVGO) fell 5.3% to $181.46 and a $855 million market cap. The Palo Alto-based chipmaker, with offices in Irvine, is scheduled to report first quarter earnings after market close today. Analysts are expecting Broadcom to report first-quarter revenue of $14.6 billion and adjusted earnings per share of $1.51.
PHARMACEUTICALS
Tarsus Pharmaceuticals Inc. (Nasdaq: TARS) fell 2.2% to $43.55 and a $1.7 billion market cap. Shares in the Irvine-based maker of medication to treat eyelid inflammation caused by mites have fallen 8% since reporting fourth quarter results on Feb. 25.
INDEXES
The Nasdaq is down 2.1% to 18,172.96.
The yield on a 10-year Treasury bond is up 1.1% to 4.313%.
EMPLOYMENT
- CBRE Group Inc. plans to lay off 34 employees at its Santa Ana and Irvine offices, effective May 2, according to a Feb. 28 state employment filing.
–Yuika Yoshida
March 5
TECHNOLOGY
Indie Semiconductor (Nasdaq: INDI) is up 10% to $2.88 apiece with a market cap of $543 million. Yesterday, the Aliso Viejo-based automotive solutions tech company announced a partnership with GlobalFoundries to develop high-performance radar systems-on-chip (SoC) solutions for advanced driver assistance systems and adjacent industrial applications.
HEALTHCARE
Alignment Healthcare Inc. (Nasdaq: ALHC) is down 1% to $15.54 apiece with a $3 billion market cap. Shares of the Orange-based provider of Medicare Advantage insurance remained up 18% since reporting fourth quarter revenue last week of $701.2 million, topping analyst consensus revenue of $677 million.
INDEXES
Crude oil is down 4.3% to $65.33. Prices declined for a third day as OPEC confirmed it will boost production, causing concern over increased supply and weak demand.
–Nancy Luna
March 4
HEALTHCARE
Shares in Masimo Corp. (Nasdaq: MASI) dropped 5% to $181.16 apiece for a market cap of $9.8 billion. Joe Kiani, founder and former CEO of the medical device maker, last week filed notice seeking $100 million in statutory penalties from Masimo.
SOFTWARE
Advertising software company Viant Technology Inc. (Nasdaq: DSP) was down 28% to $14.32 apiece for a market cap of $909 million. The Irvine-based company yesterday released earnings results that missed analysts’ estimates.
MARKETS
The S&P 500 was down 1.3% at 5,775.14
Dow30 fell 1.5% to 42,548.34
–Kevin Costelloe
March 3
TECHNOLOGY
Irvine-based Pro-Dex Inc. (Nasdaq: PDEX) rose 9.9% to $38.17 apiece with a market cap of $126 million. On Friday, Zacks Equity Research rated the stock a strong buy based on an upward trend in earnings estimates.
However, shares of the maker of powered surgical products have fallen 11% since reporting fiscal 2025 second quarter results on Jan. 30.
RESTAURANT CHAIN
GEN Restaurant Group Inc. (Nasdaq: GENK) increased 5.2% to $6.10 with a market cap of $200 million. Shares are up for the owner of the all-you-can-eat Korean BBQ chain, based in Cerritos, ahead of reporting fourth quarter and full year results on March 6.
Three analysts are estimating quarterly revenue of $49.77 million, showing 10% growth, and total revenue of $203.04 million for 2024, up an estimated 12% from a year prior.
INDEXES
The Nasdaq is down 1.3% to 18,607.14 during midday trading.
Gold increased 1.9% to $2,903.
The yield on a 10-year Treasury bond fell 1.09% to 4.185%.
EMPLOYMENT
- Forever 21 is permanently closing two stores in Orange and Santa Ana, impacting 44 employees. The “anticipated job losses” for the Forever 21 stores at The Outlets in Orange and the MainPlace Mall will occur starting April 25 and may continue through May 9, the retailer told the state in a Worker Adjustment and Retraining Notification Act (WARN) letter.
–Emily Santiago-Molina
Feb. 28
MEDTECH
Adagio Medical Holdings Inc. (Nasdaq: ADGM) stock dropped by nearly 26% to $1.14 with a market cap of $18 million. The Laguna Hills-based maker of treatments for cardiac arrhythmias announced today a strategic restructuring that includes layoffs and pausing the European launch of a catheter.
Shares of San Clemente-based ICU Medical Inc. (Nasdaq: ICUI) dropped by 6.1% to $140 with a market cap of $3.5 billion. ICU Medical yesterday forecast 2025 profit of $6.55 to $7.25 while the consensus was $7.13. The medical technology company’s stock has dipped more than 16% since late January.
Alignment Healthcare Inc. (Nasdaq: ALHC) is up 15% to $15.45 with a $3 billion market cap. The Orange-based provider of Medicare Advantage insurance plans reported fourth quarter revenue yesterday of $701.2 million, topping analyst consensus revenue of $677 million. Its 16-cent per share loss, came in lower than the 18 cents per share loss estimated by analysts.
MARKETS
The price of gold was down 1.3% to $2,859.30.
Feb. 27
HEALTHCARE
Alignment Healthcare Inc. (Nasdaq: ALHC) rose 2.7% to $13.51 and a $2.6 billion market cap. The Orange-based provider of Medicare Advantage insurance plans is scheduled to report fourth quarter earnings after market close today. Analysts are forecasting a 46% increase in revenue to $677 million and a quarterly loss of 18 cents per share.
SEMICONDUCTORS
Indie Semiconductor (Nasdaq: INDI) fell 2% to $3.14 and a $577.4 million market cap. Shares in the Aliso Viejo-based automobile tech company are down approximately 20% since reporting fourth quarter results on Feb. 20.
ENVIRONMENTAL
Montrose Environmental Group (NYSE: MEG) rose 28% to $22.27 and a $764 million market cap. The environmental consulting firm, which has its principal office in Irvine, yesterday reported fourth-quarter adjusted profit of 29 cents, topping the 14 cents consensus of analysts.
INDEXES
Gold fell 1.4% to $2,890.70.
Crude oil was up 2.04% to $70.02.
–Yuika Yoshida
