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Midday Stock Roundup: Envista Jumps 16%

Major U.S. indexes down on investor concerns of AI capital expenditures, tech layoffs

Feb. 6

HEALTHCARE

Shares of Envista Holdings Corp. are up 16% to $28.67 with a market cap of $4.8 billion (NYSE: NVST). The Brea-based maker of dental products yesterday reported fourth-quarter profit of 38 cents a share, which topped analyst consensus for 32 cents. Sales grew 11% to $750.6 million, which also beat the consensus.

ENERGY

Shares for Newport Beach-based Clean Energy Fuels soared 12% to $2.81 with a market cap of $613 million (Nasdaq CLNE).  Volume at provider of renewable natural gas was 1.78 million shares compared to daily average of 1.18 million. The company is scheduled to report fourth-quarter earnings on Feb. 24.

TECHNOLOGY

indie Semiconductor Inc. is up 9.6% to $4 a piece for a market cap of $809 million (Nasdaq: INDI).In a Feb. 3 investment report, the Baron Funds highlighted Aliso Viejo-based maker of semiconductors and software for the building of autonomous vehicles.

MARKETS/INDEXES

Nasdaq is up 1.9% to 22,966.43 while the Dow Jones Industrial Average climbed 2.1% to 49,932 and the S&P 500 increased 1.6% to 6,909.95. The market rebounded following several days of heavy selling in technology sector, according to CNBC.

                                                                                             –Joseph Pimentel

Feb. 5

HEALTHCARE

The Ensign Group Inc. (Nasdaq: ENSG) jumped 13% to $194.84 a share with a market cap of $11.3 billion after announcing fourth quarter earnings that surpassed estimates yesterday. The San Juan Capistrano-based provider of skilled nursing and senior living services came out with earnings per share of $1.82, beating the Zacks Consensus Estimate of $1.75 per share.

RETAIL

Boot Barn Holdings Inc. (NYSE: BOOT) was up 2.4% to $187.55 and a $5.7 billion market cap. The Irvine-based Western wear retailer reported a 16% increase in third quarter net sales to $706 million, above analysts’ expectations of $705 million.

TECHNOLOGY

Lantronix Inc. fell 4%  $5.97 with a market cap of $235 million. The Irvine-based company that makes computing and connectivity products for the Internet of Things (IoT) reported that second quarter revenue fell 4% to $29.8 million, in line with analysts’ estimates, yesterday.

For further details, see the Feb. 9 edition of the Business Journal.

INDEXES

The Nasdaq decreased 1% to 22,673.22, gold fell 1% to $4,898.80 per ounce, crude oil was down 2.5% to $63.53 per barrel and the yield on a 10-year Treasury bond was down 1.4% to 4.216%. Major U.S. indexes are lower today due to massive projected AI capital expenditures by Alphabet as well as high tech layoffs, according to The Economic Times.

–Yuika Yoshida


Feb. 4:

TECHNOLOGY

Mobix Labs increased 27% to 23 cents per share for a market cap of $24 million. The Irvine-based 5G chipmaker said Wednesday that it has entered the field deployment phase for its drone-based airborne sensing platform, beginning customer pilots and real-world operations focused on critical infrastructure inspection. The move follows FAA certification of the next-generation system. (Nasdaq: MOBX)

Skyworks Solutions is up 3.8% to $58.04 a share with a market cap of $8.7 billion. The Irvine-based chipmaker posted fiscal first quarter revenue of $1.04 billion. Eight analysts surveyed by Zacks Investment Research expected $998.6 million, according to AP. (Nasdaq: SWKS)

Shares of Lantronix Inc. are down 12%  $6.30 with a market cap of $248 million. The Irvine-based company that makes computing and connectivity products for the Internet of Things (IoT) is scheduled to release its fiscal second-quarter earnings today after the market closes. (Nasdaq: LTRX)

SOFTWARE 

Irvine-based Veritone Inc. is down 11% to $3.30 with a market cap of $304 million. Shares have fallen since the AI and software company reported last week growth in its Veritone Data Refinery platform and expanding customer adoption. (Nasdaq:VERI)

MARKETS/INDEXES

The Nasdaq is down 1.6% to 22,888.01.

EMPLOYMENT

American Eagle Outfitters said it is laying off 108 people starting April 3 due to the permanent closure of a warehouse facility in La Palma, according to a Worker Adjustment and Retraining Notification (WARN) letter sent to state labor officials on Feb. 2. The company said it was ceasing operations at the facility “due to a change in business strategy and priorities.”

–Nancy Luna


Feb. 3

AEROSPACE

Rocket Lab rose 5.4% to $78.09 per share for a market cap of $42 billion after announcing two Electron launches within eight days, bolstering its position as a frequent small-satellite launch provider. The Long Beach-based company got its start in Huntington Beach.(Nasdaq: RKLB)

SEMICONDUCTORS

Indie Semiconductor fell 8.2% to $3.64 per share for a market cap of $736 million, giving back recent gains as investors sell across the board. (Nasdaq: INDI)

MARKETS

Gold surged 6.7% to $4,962.40 after heavy losses in previous days

The price for a barrel of oil increased 1.8% to $63.25

INDEXES

The S&P 500 fell 1.1% to 6,897.18

Nasdaq lost 1.8% to 23,160.37

EMPLOYMENT:

Amazon told California state officials it is permanently closing four sites in Orange County at the end of April, affecting 738 workers. The sites are in Huntington Beach, Irvine, Fullerton and Fountain Valley. Amazon said last week it plans to lay off 16,000 people across the company.

–Kevin Costelloe


Feb. 2

FITNESS

Xponential Fitness Inc. jumped 14% to $9.06 per share with a market cap of $444 million (NYSE: XPOF). Volume on Feb. 2 was up 58% from the daily average. Shares of the Irvine-based fitness studio franchisor have increased 68% since a 52-week low of $5.38 in late November.

TECHNOLOGY

Shares of TTM Technologies Inc. increased 6.5% to $104.62 apiece and a $11 billion market cap (Nasdaq: TTMI). The printed circuit board maker announced on Feb. 2 that its former President and Chief Executive Officer Thomas Edman and fellow director John Mayer will retire from the board, effective May 7. 

Two new directors, aerospace executive Daniel Korte and the 24th Secretary of the Army Ryan McCarthy, have been appointed to fill the vacancies. 

HEALTHCARE

Lake Forest-based Staar Surgical Co. was down 3.6% to $18.26 apiece and a market cap of $901 million (Nasdaq: STAA). The medical device maker’s board of directors on Monday named Chief Operating Officer and President Warren Foust and Chief Financial Officer Deborah Andrews as interim co-chief executives.

MARKETS/INDEXES
The Dow 30 increased 1% to 49,380.95.
Gold was down 1.1% to $4,692.60 per ounce.
Crude oil dropped 5.2% to $61.81 a barrel.

–Emily Santiago-Molina


Jan. 30

MANUFACTURING

Shares of Shimmick Corp. are up 9% to $3.70 for a market cap of $134 million (Nasdaq: SHIM). Shares of the Irvine-based builder of water infrastructure projects have more than doubled since August.

TECHNOLOGY
Santa Ana-based TTM Technologies’ shares increased 4.5% to $100.82 and a market cap of $10.4 billion (Nasdaq: TTMI). The global manufacturer of technology products secured a multi-year agreement to provide electronic hardware, circuit boards and radio frequency assemblies with Raytheon, potentially valued at $200 million over three years.
REAL ESTATE
Five Point Holdings dropped 5% to $5.31 per share and a market cap of $782 million (Nasdaq: FPH). The Irvine-based real estate development company yesterday reported fourth quarter consolidated net income of $58.7 million. Officials discussed headwinds in the housing market citing affordability, fluctuating interest rates and economic uncertainty.
INDEXES
Indexes fell due to President Trump’s pick of Kevin Warsh as the next chairman of the Federal Reserve, according to the Wall Street Journal. Nasdaq was off 1% to 23,445.12 while the Dow 30 was also off 1% to 48,594.58.
MARKETS
Gold dropped 9.4% to $4,854 an ounce.

                                                                                –Joseph Pimentel


Jan. 29

RETAIL

Boot Barn Holdings Inc. (NYSE: BOOT) increased 1.2% to $174.40 and a $5.3 billion market cap. The Irvine-based Western wear retailer is set to report third quarter results on Feb. 4. Analysts expect the company to post revenue of $705.6 million, representing a 16% increase from a year ago. The consensus earnings per share estimate for Boot Barn has also been revised 9.9% higher to $2.79 per share.

HEALTHCARE

CareTrust REIT Inc. (NYSE: CTRE) rose 1.4% to $37.02 per share with a market cap of $8.3 billion. The San Clemente-based real estate investor in healthcare facilities this week reported the tax status of its 2025 dividends paid to shareholders. CareTrust is scheduled to release fourth quarter and full year results on Feb. 12 after the market closes.

INDEXES

The Nasdaq is down 1.5% to 23,496.87.

Crude oil is up 3.2% to $65.21 per barrel.

–Yuika Yoshida


Jan. 28
MEDTECH
Aliso Viejo-based Glaukos is up 7% to $126.88 apiece with a market cap of $7.3 billion (NYSE: GKOS). Shares of the medical device maker are up after it announced today FDA approval for a labeling enhancement for iDose TR, which should help expand access for glaucoma patients who may benefit from repeat treatment, CEO Thomas Burns said.
TECHNOLOGY
Shares of Lantronix Inc. rose 4.5% to $7.20 with a market cap of $284 million (Nasdaq: LTRX). On Tuesday, the Irvine-based computer networking products and connectivity company said it signed a memorandum of understanding and a master services agreement with a Florida developer of AI-enabled defense and security solutions. Shares are up 94% from a year ago.
RETAIL
V.F. Corp., the parent company of Costa Mesa-based Vans, is down 8.8% to $18.50 apiece with a market cap of $7.3 billion (NYSE: VFC). Today the apparel and footwear company forecast fourth-quarter revenue above analysts’ estimate, but executives also warned that tariffs were “just starting to hit” its business, according to Reuters.
INDEXES/MARKETS
Gold is up 3.6% to $5,302.20 an ounce, setting new records amid concerns about the U.S. dollar’s latest decline.
–Nancy Luna

Jan. 27

HEALTHCARE 
Alignment Healthcare, a provider of Medicare Advantage plans to seniors, fell 15% to $20.20 per share for a market cap of $4 billion, after the Trump administration proposed a lower-than-expected increase to 2027 Medicare Advantage plans.
RETAIL
Compass Diversified Holdings (NYSE: CODI) rose 11% to $7 for a market cap of $519 million. The company’s shares are up about 41% over the last month. Compass was once the parent company OC-based Lugano Diamonds, which in November voluntarily filed for Chapter 11 relief in the U.S. Bankruptcy Court for the District of Delaware to commence the sale process for all its assets.
MARKETS
The price for a barrel of oil rose 2.5% to $62.16.

–Kevin Costelloe


Jan. 26

HEALTHCARE 

Irvine-based Pro-Dex Inc. was up 5.6% to $41.30 per share with a market cap of $135 million (Nasdaq: PDEX). Simply Wall St reported on Jan. 25 data that shows hedge funds own 37% of the medical device maker, adding that “having a considerable amount of institutional money invested in a company is often regarded as a desirable trait.” Pro-Dex Rises 5.6%   

MEDICAL 

Evolus Inc. was down 4.1% to $4.72 apiece with a $306 million market cap (Nasdaq: EOLS). Two analyst firms have lowered price targets for the medical aesthetics firm this month. Since Stifel downgraded Evolus from $20 to $17 on Jan. 13 and BTIG altered its forecast from $18 to $15 on Jan. 22, shares have fallen 17%.  

MARKETS/INDEXES 

Gold was up 2.2% to $5,087.60 per ounce, reaching record levels, Reuters reported.  

–Emily Santiago-Molina


Jan. 23

INFRASTRUCTURE

Shimmick Corp. fell 7.4% to $3.55 and a $127 million market cap (Nasdaq: SHIM). Volume of 10,000 shares was about a fourth of the daily average for the Irvine-based provider of infrastructure projects.

TECHNOLOGY

Lantronix Inc. dropped 5.6% to $6.44 and a $253 million market cap (LTRX). Volume of 633,000 shares surpassed the daily average of 458,000 for the Irvine-based maker of Internet connectivity devices.

MARKETS

Crude oil rose 2.7% to $60.96 a barrel.

Gold climbed 1.5% to $4,986 an ounce.

  –Peter J. Brennan


Jan. 22

HEALTHCARE

Irvine-based MDxHealth SA (Nasdaq: MDXH) jumped 9% to $4.23 per share with a $216 million market cap. Shares of the medical diagnostics company are up 23% since reporting preliminary fourth quarter and full year revenue on Jan. 12. It expects fourth quarter revenue and full year revenues of $30.5 million and $109 million, respectively. The company also issued 2026 revenue guidance of $137 million to $140 million, representing growth between 26% to 28%.

Glaukos Corp. (NYSE: GKOS) rose 4.3% to $129.48 and a market cap of $7.4 billion. The Aliso Viejo-based maker of products to treat glaucoma is set to release fourth quarter and full year financial results on Feb. 17 after the market closes.

AEROSPACE

Shares of Karman Holdings Inc. (NYSE: KRMN) are up 6.7% to $118.82 with a market cap of $14.7 billion. The Huntington Beach-based aerospace company yesterday boosted its 2025 revenue guidance and raised its 2026 revenue forecast.

INDEXES

The Nasdaq rose 1.1% to 23,489.67.

Gold is up 1.3% to $4,898 per ounce.

Crude oil fell 2.3% to $59.23 per barrel.

–Yuika Yoshida

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