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
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