Veritone One sold to Insignia

July 17

TECHNOLOGY

Veritone Inc. (Nasdaq: VERI) jumped 11% to $2.21 per share with a market cap of $104.8 million. The provider of enterprise AI solutions, which began in Costa Mesa and is now based in Denver, today announced that it has achieved “Awardable” status by the Platform One Solutions Marketplace, making its technologies accessible to Department of Defense customers.

Lantronix Inc. (Nasdaq: LTRX) is up 2.4% to $3.20 and a $124.6 million market cap. The Irvine-based computer components maker today launched a new industrial-grade 5G router. The company said the product launch is a direct result of its $6.5 million acquisition of NetComm Wireless last year.

Mobix Labs Inc. (Nasdaq: MOBX) went up 8.8% to 83 cents and a $42 million market cap. The Irvine-based chipmaker startup announced that its subsidiary, EMI Filer Solutions, experienced a sharp uptick in high-value production orders during the second quarter.

AUTOMOTIVE

Rivian Automotive Inc. (NYSE: RIVN) rose 6% to $13.13 with a $15.7 billion market cap. The Irvine-based EV maker yesterday held a groundbreaking ceremony for a new 28,000-square-feet service center in Quebec. Rivian’s new R2 model is set to launch in Canada in 2026.

AEROSPACE

Tustin-based space tourism company Virgin Galactic Holdings Inc. (NYSE: SPCE) rose 16% to $3.76 and  $156.5 million market cap. Share volume of 13.5 million was three times the daily average.

INDEXES

Crude oil increased 1.2% to $67.20 per barrel.

–Yuika Yoshida


July 16:

AEROSPACE

Karman Holdings Inc. (NYSE: KRMN) is up 9% to $52.61 apiece with a market cap of $7 billion. Shares of the Huntington Beach-based fabricator of defense and space systems are up nearly 13% since its stock was highlighted by Jim Cramer last week. The popular CNBC personality and former hedge fund manager said “the missile story is good” with companies like Karman making a lot of people money. Karman went public in February.

RESTAURANTS

Shares of Yoshiharu Global Co. (Nasdaq: YOSH) fell 5.2% to $7.51 with a market cap of $13.2 million. The Japanese ramen chain announced yesterday a rebrand under the new name Vestand Inc., reflecting the company’s shift to pursue restaurant real estate development and digital asset ventures. The chain, whose ticker symbol is expected to change, also moved its headquarters from Buena Park to Brea.

–Nancy Luna


July 15

HEALTHCARE 
Glaukos Corp. (NYSE:GKOS), which makes medical devices for glaucoma treatment,  fell  4.7% to $99.49 per share for a market cap of $5.7 billion after investor website SimplyWallSt.com said the Aliso Viejo-baed company will have a final loss in 2026 before turning a profit in 2027.
SEMICONDUCTORS
Aliso Viejo-based Indie Semiconductor (Nasdaq: INDI) rose 5.6% to $4.05 per share for a market cap of $791 million after President Trump approved Nvidia AI chip sales to China.
MARKETS
The yield on a 10-year Treasury bond increased 1.1% to 4.45%.
                                                                                —Kevin Costelloe

July 14

TECHNOLOGY

Eledon Pharmaceuticals Inc. (Nasdaq: ELDN) jumped 17% to $3.99 apiece with a market cap of $239 million. Volume was up almost four times more than the average. Shares of the Irvine-based biotechnology firm have increased 47% in the past month.

Zacks Equity Research gave the company a #1 ranking and said it “possesses a Momentum Score of A.” 

AUTOMOTIVE

Shares of Irvine-based Rivian Automotive Inc. (NYSE: TLYS) fell 2.8% to $12.66 with a $15 billion market cap. Analyst firm Guggenheim downgraded the EV maker from ‘buy’ to ‘neutral’ on Monday without setting a price target. The report cited “softer long-term R2/R3 assumptions” and “negative U.S. Electric Vehicle and Emissions policy changes.”

MARKETS

Oil was down 1.5% to $67.39 per barrel.

EMPLOYMENT

  • Activision Blizzard reported it was laying off 73 employees from Blizzard’s headquarters in Irvine, according to the latest Worker Adjustment and Retraining Notification (WARN) report.

–Emily Santiago-Molina


July 11

AEROSPACE

Shares of Karman Holdings Inc. (NYSE: KRMN) were up 2.9% to $48.80 with a market cap of $6.4 billion. The Huntington Beach-based fabricator of defense and space systems was one of 13 stocks highlighted by Jim Cramer this week, with the television personality and former hedge fund manager saying Karman is “making a lot of people a lot of money.” Shares have almost doubled since the company went public in February. See the July 14 print issue for more on the company. 

MEDTECH

Staar Surgical Co. (Nasdaq: STAA) was down 2.9% to $17.29 a piece with a market cap of $856 million. Anthony Lee, a senior equity analyst for StockStory, recommended selling shares of the Lake Forest-based maker of implantable eye lenses, citing eroding capital returns and a 27% drop in cash flow margin.

INDEXES

Gold was up 1.2% to $3,367 per ounce. Crude oil increased 2.8% to $68.41 per barrel.

–Parimal M. Rohit


July 10

DENTAL

Envista Holdings Corp. (NYSE: NVST) rose 2.8% to $20.94 and a $3.5 billion market cap. Shares are now up 47% since a 52-week low in April. The Brea-based maker of dental products has scheduled its second quarter earnings call for July 31. Analysts on average are estimating $638.2 million in revenue, implying flat growth from a year ago.

FINANCE

First American Financial Corp. (NYSE: FAF) fell 8% to $55.10 and a market cap of $5.6 billion. Shares in the Santa Ana-based title insurer are down after Barclays analyst Terry Ma lowered the firm’s price target on the stock from $72 to $70.

RESTAURANTS

Chipotle Mexican Grill Inc. (NYSE: CMG) increased 2% to $57.01 and a $76.8 billion market cap. The Newport Beach-based restaurant chain is expected to post better-than-expected second quarter results on July 23, according to MT Newswires.

INDEXES

Crude oil fell 2.6% to $66.63 per barrel.

–Yuika Yoshida


July 9:

MEDTECH:

RxSight Inc. (Nasdaq: RXST) fell 38% to $7.95 and a $327 million market cap. The Aliso Viejo maker of implantable eye lenses yesterday forecast 2025 sales of $120 million to $130 million, below the prior guidance for $160 million to $175 million; analysts expected $167.6 million.

FINANCE:

Irvine-based loanDepot (NYSE: LDI), one of the nation’s largest non-bank providers of mortgages, is up 4% to $1.45 apiece with a market cap of $476.7 million. On Wednesday, the Mortgage Bankers Association reported a 9.4% increase in mortgage applications for the week ended July 4. Mortgage rates also moved lower last week, with the 30-year fixed rate decreasing to 6.77%, its lowest level in three months, the association said.

MEDTECH:

Shares of Evolus Inc. (Nasdaq: EOLS) increased 6.6% to $9.87 apiece with a market cap of $636.4 million. The Newport Beach maker of facial injections announced today that it is launching in France its product Nuceiva, a treatment used to temporarily reduce the appearance of deep frown lines between the eyebrows, through a partnership with Symatese.

RESTAURANTS

Shares of sushi restaurant chain Kura Sushi (NASDAQ:KRUS) fell nearly 12% to $76.44 with a market cap of $923.8 million.  The Irvine-based chain reported yesterday guest traffic decline of 2.9%, which drove same-store sales to drop by 2.1% for the quarter.

INDEXES:

The yield on a 10-year Treasury bond declined 1.1% to 4.4%.

–Nancy Luna


July 8

SEMICONDUCTORS

Aliso Viejo-based Indie Semiconductor (Nasdaq: INDI) rose 8.3% to $3.84 per share for a market cap of $747 million, regaining ground after yesterday’s drop. A PWC report said that by 2035, a third of global semiconductor production could face significant disruptions due to climate change-related copper supply shortages. Disruptions could have the effect of raising chip prices.

TECH DISTRIBUTION

Tech and electronics distributor Ingram Micro (NYSE: INGM) was up 1.4% to $20.48 per share for a market cap of $4.8 billion, after declining 8% yesterday following disclosure of a ransomware attack against the Irvine-based company.

MARKETS

The price for a barrel of oil increased 1.1% to $68.69.

                                                           —Kevin Costelloe


July 7TECHNOLOGY

Indie Semiconductor Inc. (Nasdaq: INDI) dropped 5.4% to $3.53 per share with a market cap of $692 million. Investment management firm Frontier Capital Management said in a Q1 letter released on Monday that the semiconductor maker “was the worst performer” in its technology stock selection citing tariff uncertainty.

Frontier added that indie “remains a potential acquisition candidate if an industry slowdown persists.”

RESTAURANTS

Irvine-based Kura Sushi USA Inc. (Nasdaq: KRUS) fell 5.5% to $85.76 apiece with a $1 billion market cap.  Ahead of the restaurant chain’s fiscal third quarter results to be released on July 8, the general analyst consensus is a loss of 1 cent per share and 14% growth to $71.8 million in Q3 revenue.

StockStory reported that the expected jump is “slowing from the 28.1% increase it recorded in the same quarter last year.”

FRANCHISE

Shares of Xponential Fitness Inc. (NYSE: TLYS) decreased 11% to $8.94 with a $436 million market cap, following a 32% surge last Thursday. The Irvine-based fitness studio franchisor announced last week that the SEC concluded its 18-month investigation with no action taken.

For more on Xponential, see the July 14 issue of the Business Journal.

INDEXES

The S&P 500 fell 1% to 6,221.28, the Dow 30 decreased 1.1% to 44,316.85 and the Nasdaq is down 1% to $20,405.10 during midday trading. President Trump announced a 25% tariff on all Japanese and Korean goods, effective August 1.

Oil is up 1.3% to $67.88 per barrel.

–Emily Santiago-Molina


July 4

The Nasdaq and the New York Stock Exchange are closed today in observance of Independence Day and will reopen Monday, July 7. The U.S. bond market is also closed today, according to the Securities Industry and Financial Markets Association.

–Parimal M. Rohit


July 3

ELECTRONICS

EACO Corp. (OTCPK: EACO) rose 28% to $53.88 and a $262 million market cap. The Anaheim-based electronics distributors on July 1 reported record quarter net sales of $111.4 million and net income of $9.5 million for the three months ended May 31, 2025.

FITNESS

Xponential Fitness (NYSE: XPOF) jumped 32% to $9.85 and a $478.6 million market cap. Shares in the Irvine-based fitness company are up after yesterday’s announcement that the SEC concluded its 18-month investigation into Xponential with no action taken.

INDEXES

The Nasdaq is up 1% to 20,612.37 as investors embraced a stronger than expected jobs report today.

–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.