Edwards Lifesciences employs over 5,000 people locally, the most of any medical device maker

Feb. 12

MEDICAL DEVICES

Shares of Edwards Lifesciences (NYSE: EW) are up 5.9% to $75.06 with a market cap of $44.3 billion. The Irvine-based maker of transcatheter aortic heart valves (TAVR) reported yesterday fourth quarter earnings, saying it expects sales to accelerate in the second-half of the year. The company reported TAVR sales of $1.04 billion, which grew 6% versus the prior year.

FINANCE

Irvine-based loanDepot (NYSE: LDI) is down 3.4% to $1.59 apiece with a market cap of $518.3 million. The company, one of the nation’s largest mortgage originator, introduced today new 10- and 30-year fixed-term home equity loan options, expanding on the company’s existing 20-year fixed-rate loan and a suite of first- and second-lien HELOCs.

The government today reported consumer prices higher than expected in January, causing concern that the Federal Reserve might not lower interest rates as quickly as previously believed.

BIOMEDICAL

Shares of Staar Surgical Co. were down 25% to $16.35 with a market cap of $806 million. The Lake Forest-based eye lens maker reported yesterday a fourth quarter loss of $34.2 million driven by weak demand in China, the largest market in the world for refractive procedures.

 

INDEXES

Crude oil is down 2.3% to $71.64 a barrel.

–Nancy Luna

 

FEB. 11

TECHNOLOGY

TTM Technologies (Nasdaq: TTMI) in Santa Ana rose 4.4% to $26.27 per share for a market cap of $2.7 billion. Stifel analysts have initiated coverage on TTM Technologies  with a Buy rating, setting a price target of $33, industry website Investing.com reported earlier today..

RETAIL

Western-themed retailer Boot Barn Holdings (NYSE: BOOT) in Irvine fell 5.3% to $130.96 apiece for a market cap of $4 billion. Despite today’s slide, the shares are up more than 45% over the last 12 months.

MARKETS

The price for a barrel of oil rose 1.3% to $72.23.

EMPLOYMENT

Infineon Technologies Americas Corp. plans to lay off eight employees at its Irvine site as of Feb. 14, according to a WARN notice filed with California state labor authorities.

Kevin Costelloe

 

FEB. 10

MEDTECH

Biomerica Inc. (Nasdaq: BMRA) jumped 33% to 70 cents and a $12.7 million market cap. Volume of 5.5 million was about two-thirds of the daily average. Shares have more than doubled since Jan. 15 when the company announced its prostate screening test won approval in the United Arab Emirates.

Oncocyte Corp. (Nasdaq: OCX) climbed 3.5% to $2.08 and a $35 million market cap. The Irvine-based maker of diagnostic tools today priced its $29.1 million offering at $2.05 a share.

MARKETS

Nasdaq climbed 1.1% to 19,744.17.

Crude oil was up 1.9% to $72.35 a barrel while gold increased 1.5% to $2,930 an ounce.

–Peter J. Brennan


FEB. 7

TECHNOLOGY

Shares of Lantronix Inc. (Nasdaq: LTRX) tumbled 23% to $3.25 with a market cap of $123 million. The Irvine-based maker of computer products said it’s receiving fewer orders from its largest automotive customer. The company forecast fiscal third quarter adjusted profit of 1 cent to 5 cents a share on revenue of $27 million to $31 million; analysts expected a profit of 8 cents a share on revenue of $34.5 million. Also, the company announced Philip Brace left the board of directors to become CEO at Skyworks Solutions Inc. See the Business Journal’s Feb. 10 issue for more details. 

MEDTECH

Envista Holdings Corp. (NYSE: NVST) dropped 3.9% to $21 with a market cap of $3.6 billion. The Brea-based dental equipment company missed its earnings, with its $2.51 billion of revenue for the most recent fiscal year down 2.2% from FY 2023 and a reported net loss of $1.12 billion.

MARKETS

Nasdaq is down 1.1% to 19,569.09.

–Parimal M. Rohit


Feb. 6

CHIPMAKERS

Skyworks Solutions Inc. (Nasdaq: SWKS) dropped 24% to $66.06 and a $10.6 billion market cap. The Irvine-based chipmaker yesterday announced that Chief Executive Liam Griffin is stepping down and will be replaced by Philip Brace, effective Feb. 17. The company also forecasted a revenue decline in the fourth quarter due to the “competitive landscape.”

SEMICONDUCTORS

TTM Technologies Inc. (Nasdaq: TTMI) rose 12% to $27.70 and a $2.8 billion market cap. The Santa Ana-based maker of printed circuit boards yesterday reported fourth-quarter adjusted profit of 60 cents per share for revenue of $651 million, exceeding analysts’ expectations of 43 cents.

–Yuika Yoshida


Feb. 5

RESTAURANTS

Newport Beach-based Chipotle Mexican Grill (NYSE: CMG) declined 2.3% to $57.66 apiece with a market cap of $78.5 billion after missing revenue estimates from yesterday’s 4th quarter earnings call. CFO Adam Rymer also noted that “if the recently announced tariffs go into full effect, it would have an ongoing impact of about 60 basis points on our cost of sales.” The company said it sources avocados, tomatoes and limes from Mexico, which account for 2% of sales.

HEALTHCARE

Shares of Tarsus Pharmaceuticals Inc. (Nasdaq:TARS) increased 4.44% to $57 with a market cap of $2.2 billion.  The Irvine biopharmaceutical company, maker of medication that treats eyelid inflammation caused by mites, is scheduled to present tomorrow at the Guggenheim SMID Cap Biotech Conference at 6 a.m. PT/9 a.m. ET.

INDEXES

Crude oil is down 2% to $71.19 a barrel.

–Nancy Luna


Feb. 4

ENERGY
Newport Beach-based Clean Energy Fuels (Nasdaq: CLNE) rose 10% to $3.40 per share for a market cap of $768 million. The stock has surged significantly so far in 2025 “due to a financial turnaround and breakthrough contract wins with DHL, NICE Transit, and Noble Environmental,” Insider Monkey said today.
AUTOMOTIVE
Irvine-based EV maker Rivian Automotive Inc. (Nasdaq: RIVN)  was up 3% to $12.76 per share for a market cap of $13 billion. Motley Fool said today that in a comparison to Tesla “if you’d rather invest in an EV start-up with the potential to carve its own path in the electric vehicle market, Rivian is a great option.”
Kevin Costelloe

Feb. 3

RETAIL 

Boot Barn Holdings Inc. (NYSE: BOOT) fell 6.8% to $149.83 and a $4.6 billion market cap. Analyst firm UBS today lowered its price target for the Irvine-based retailer from $210 to $200.  

RESTAURANTS 

Brea-based Reborn Coffee Inc. (Nasdaq: REBN) surged 68% to $5.51 per share with a market cap of $20 million. Volume on Monday jumped to 62,631,622 compared to its average of 1,104,680.  

Shares of the coffee chain are up around 250% since announcing its official approval as a franchisor in the U.S. on Jan. 23.  

INDEXES  

The Nasdaq fell 1.1% to 19,408.05 during midday trading.  

The yield on a 10-year Treasury bond was down 1.01% to 4.523%. 

–Emily Santiago-Molina


Jan. 31

RETAIL

Shares of Boot Barn (Nasdaq: BOOT) dropped 2.4% to $170.30 with a market cap of $5.2 billion. The Irvine-based maker of Western wear yesterday reported fiscal third quarter rose 17% to $608.2 million. Shares are still up 37% since November. 

AUTOMOTIVE

Rivian Automotice (Nasdaq: RIVN) rose 2.1% to $12.77 with a market cap of $13 billion.  Shares of the Irvine-based electric vehicle manufacturer are now up 34% since late November. Volume today was about a fourth of the daily average. 

MARKETS

Nasdaq jumped 1.3% to 19,936.53.

–Parimal M. Rohit


Jan. 30

MEDTECH

Irvine-based Masimo Corp. (Nasdaq: MASI) rose 2% to $180.99 and a $9.7 billion market cap. Piper Sandler analysts Jason Bednar and Joseph Downing today released a report to investors saying that they see the medical device company “sustaining its position as one of the premium growers in mature medtech on the back of continued pulse ox share gains, contributions from incremental hospital contracting, and faster growth from advanced parameter offerings.”

AUTOMOTIVE

Mullen Automotive Inc. (Nasdaq: MULN) dropped 9.5% to 26 cents apiece and a $16 million market cap. The Brea-based EV maker today announced that it completed additional purchases of battery line equipment from Nikola Corp. to further battery production capabilities at its Fullerton operations.

MARKETS

Gold increased 1.63% to $2,839.

–Yuika Yoshida


Jan. 29

AEROSPACE

Virgin Galactic Holdings Inc. (NYSE: SPCE) dropped 2.3% to $4.48 apiece with a market cap of $129 million. Shares have plunged 87% from a year ago. The Tustin-based space tourism firm is burning through cash “as it continues to navigate through a period of financial turbulence and operational setbacks,” according to a Jan. 27 Investing.com report.

TOURISM

Shares of The Walt Disney Company (NYSE: DIS) dropped 1.71% with a market cap of $206 billion. The operator of Disneyland Resort theme parks in Anaheim is slated to report earnings Feb. 5. A consensus of 23 analysts expect revenue for the quarter ended December 2024 to increase by 4.31% to an average of $24.6 billion. While Walt Disney based in Burbank, the Disneyland Resort is Orange County’s largest employer with 36,000 employees.

MARKETS

The Nasdaq is down 1.2% to 19,495.54. Crude oil is down 1.6% to $72.56 a barrel.

–Nancy Luna


Jan. 28

HEALTHCARE

Edwards Lifesciences Corp. (Nasdaq: EW) rose 3% to $71.23 and a $42 billion market cap. The Irvine-based medical device maker is scheduled on Feb. 4 to report fourth quarter results. Analysts are projecting an 11% decline to $1.36 billion, according to the Zacks Consensus estimate. 

AUTOMAKER

Irvine-based Rivian Automotive Inc. (Nasdaq: RIVN) fell 2.1% to $12.58 and a $12.9 billion market cap. Rivian expects the $7,500 tax credit for electric vehicles to be repealed by the Trump administration, according to chief executive RJ Scaringe.

MARKETS

The Nasdaq is up 1.01% to 19,536.33.

–Yuika Yoshida


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Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.