Inari’s Defiance clinical trial is treating patients with deep vein thrombosis using its ClotTriever system

Dec. 12

MEDTECH

Inari Medical Inc. (Nasdaq: NARI) fell 5.3% to $55.15 and a $3.2 billion market cap. Shares of the Irvine-based maker of devices to remove blood clots are still up about 6% since announcing a joint venture with 6 Dimensions Capital and VFLO Medical to meet unmet needs in Greater China on Dec. 2.

ELECTRIC VEHICLES

Mullen Automotive (Nasdaq: MULN) rose 3.4% to $1.79 and a $16 million market cap. The Brea-based EV maker today announced that it’s subsidiary, Boiling Motors, has generated $4.1 million in nearly three months since beginning production of its first 25 B4 trucks.

MARKETS

The price of oil fell 1.44% to $69.28 per barrel.

Gold decreased 1.96% to $2,702.60.

–Yuika Yoshida


Dec. 11

AEROSPACE

Aerospace and defense component maker Ducommun Inc. (NYSE: DCO) is up 4.4% to $64.60 apiece with a market cap of $955 million. The Costa Mesa-based company announced earlier this week that it had been recognized by British defense-equipment manufacturer BAE Systems for its exceptional performance and commitment to operational excellence this year. BAE Systems’ Partner2Win program recognizes suppliers for their achievements in operations, quality and procurement.

BIOMEDICAL

Shares of CG Oncology Inc. (Nasdaq: CGON) are down 9.3% to $30.57 with a market cap of $2.1 billion. On Wednesday, the Irvine-based biomedical company proposed an underwritten public offering of 7.3 million shares of its common stock.

MARKETS

Crude oil is up 2% to $69.94 a barrel. The Nasdaq is up 1.7% to 20,016. Gold is up 1.3% to $2,753.40.

–Nancy Luna


Dec. 10

SEMICONDUCTORS

Broadcom Inc. (Nasdaq: AVGO), based in Palo Alto and the largest semiconductor employer in Orange County, fell 4% to $171.79 per share for a market cap of $799 million, after presenting 3.5D chip packaging technology to boost AI processor performance earlier today. Volume was half of daily average.

PHARMACEUTICAL

Irvine-based Aeon Biopharma Inc. (NYSE: AEON), a clinical-stage biopharmaceutical firm, fell 8.8% to 60 cents apiece for a market cap of $24 million. Volume was a third of the normal daily average; the shares have fallen in half in the last two months.

MARKETS

The price of gold rose 1.3% to $2,698.20.

                                                                                –Kevin Costelloe


Dec. 9

AUTOMOTIVE 

Irvine-based Rivian Automotive Inc. (Nasdaq: RIVN) surged 12% to $14.62 apiece and a $15 billion market cap. Analyst firm Benchmark initiated coverage of the local EV maker on Monday with a ‘buy’ rating and a price target of $18 – “about 38.5% above Friday’s closing price,” according to The Motley Fool.  

Rivian also opened its second charging outpost in Joshua Tree over the weekend. 

HEALTHCARE 

CareTrust REIT Inc. (NYSE: CTRE) is off 2.4% to $28.63 per share with a market cap of $5.4 billion. The San Clemente-based firm has acquired a 46-facility skilled nursing and seniors housing collection, counting 3,820 beds, in the Midwest for approximately $97 million.

BMO Capital today downgraded CareTrust. 

MARKETS 

Oil rose 2% to $68.55 per barrel.  

Gold increased 1% to $2,687. 

The yield on a 10-year Treasury bond is up 1.06% to 4.195%. 

–Emily Santiago-Molina


Dec. 6

APPAREL

Shares of Tilly’s Inc. (NYSE: TYLS) dropped 9.8% today with a market cap of $119.1 million. The Irvine-based clothing retailer said fiscal fourth quarter sales to date have been disappointing and it forecast a wider loss and lower sales than the two analysts covering the company were expecting.

TECHNOLOGY

Indie Semiconductor (Nasdaq: INDI) jumped 9.1% to $4.33 and a $788 million market cap. The shares are now up 13% in the past two trading sessions. The shares had dropped 5% on Dec. 4 because of a new private offering of convertible senior notes.

MARKETS

Crude Oil declined by 1.2% today to $67.47 per barrel.

–Parimal M. Rohit


Dec. 5

AUTOMOTIVE

Electric vehicle maker Rivian Automotive (Nasdaq: RIVN) rose 5.6% to $12.63 and a $13 billion market cap. Shares are up 9% since Rivian announced it received a loan of up to $6.6 billion from the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program on Nov. 25.

Aliso Viejo-based Indie Semiconductor Inc. (Nasdaq: INDI) increased 4.8% to $4.00 per share for a market cap of $730 million. The automobile tech company yesterday announced the pricing of its $190 million convertible senior notes offering due 2029.

–Yuika Yoshida


Dec. 4

RESTAURANTS

Shares of Chipotle Mexican Grill are up 4.5% to $63.67 a piece with a market cap of $86.7 billion. On Wednesday, the company told the Business Journal that it is raising menu prices to offset inflation.

“For the first time in over a year, we have taken a modest price increase of approximately 2% nationally to offset inflation,” Laurie Schalow, chief corporate affairs officer, told the Business Journal in an email statement.

HEALTHCARE

Shares of Irvine-based CG Oncology, Inc. (Nasdaq: CGON) were up 3.7% to $36.20 a piece with a market cap of $2.4 billion. The late-stage clinical biopharmaceutical company is focused on developing and commercializing new ways to treat bladder cancer is hosting a conference call Thursday to discuss results from the Phase 3 BOND-003 trial of cretostimogene monotherapy in high-risk BCG-unresponsive non-muscle invasive bladder cancer.

Edwards Lifesciences Corp. (Nasdaq: EW) increased 4.5% to $73.34 with a market cap $43.3 billion. Orange County’s second largest publicly traded company held its annual shareholder conference today, where the maker of artificial heart valves detailed its strategy for sustained long-term growth and innovations in structural heart therapies. The company said it expects to close 2024 with projected sales growth of 8% to 10%.


Dec. 3

AUTOMOTIVE
Indie Semiconductor (Nasdaq: INDI) fell 17% to $4.37 per share for a market cap of $882 million, a day after the Aliso Viejo-based company announced a proposed convertible senior notes offering. Volume was four times the daily average.
SEMICONDUCTORS
Irvine-based chip startup Mobix Labs (Nasdaq: MOBX) was down 21% to $1.10 per share  for a market cap of $34 million. Volume was two times the daily average. The shares have plummeted from $11.34 each a year ago.
MARKETS
The price for a barrel of oil rose 2.6% to $69.88

–Kevin Costelloe


Dec. 2

TECHNOLOGY 

Irvine-based WM Technology Inc. (Nasdaq: MAPS) jumped 12% to $1.33 apiece and a $231 million market cap. Shares of the company, a technology provider for the cannabis industry, are up 86% since reporting third-quarter results on Nov. 12 that beat analyst forecasts.  

RETAIL 

Boot Barn Holdings Inc. (NYSE: BOOT) is up 5.8% to $145.06 per share with a market cap of $4.4 billion. However, shares of the Irvine-based apparel company are down 10% since reporting fiscal second-quarter results and the departure of CEO Jim Conroy on Oct. 28. 

–Emily Santiago-Molina

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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.