Irvine-based CorVel Corp., which helps employers and insurers check workers’ compensation costs, is Orange County’s top stock of 2006.
CorVel saw its shares rise nearly 280% in 2006, topping gains among OC-based public companies with market values of $50 million or more.
With a recent market value of nearly $700 million, CorVel offers software and services for managing workers’ compensation claims and reviewing bills.
Customers include Wal-Mart Stores Inc. UAL Corp.’s United Airlines, Domino’s Pizza Inc. and Kellogg Co.
The second best stock of 2006: Santa Ana-based memory products maker SimpleTech Inc.
SimpleTech’s shares are set to close the year up some 225% with a market value of about $600 million.
The growing use of flash memory to store data at businesses has boosted SimpleTech.
The county’s third best stock of 2006: Newport Beach-based travel services company Ambassadors International Inc.
Its shares rose 205% with a recent market value of about $500 million.
The cruise, travel and event-management company benefited from a handful of acquisitions.
The year’s biggest losers were in once-hot markets that since have cooled or delivered disappointing results.
They include United PanAm Financial Corp., a Newport Beach-based maker of auto loans to borrowers with imperfect credit. For the year, United PanAm is off about 45% with a recent market value of $230 million.
For more on this story, see the Jan. 1 edition of the Business Journal.
