OC BUSINESS JOURNAL DAILY NEWS
Edwards Q2 Report Sends Shares Up
Irvine-based Edwards Lifesciences Corp. (NYSE: EW), the most valuable publicly traded company based in Orange County, reported second-quarter sales climbed higher-than-expected 15% on increasing demand for its transcatheter aortic valve replacements.
Chipotle 2Q Tops Analysts’ Expectations
Newport Beach’s Chipotle Mexican Grill Inc. (NYSE: CMG) reported second quarter revenue and adjusted profit that beat analysts’ consensus estimates.
Toshiba, AEG Extend Deal
Toshiba America Business Solutions Inc. in Irvine and sports entertainment company AEG are extending a partnership.
Great Park Developer to Issue $100M Debt
Five Point Holdings LLC plans to issue via two of its units $100 million in senior notes paying 7.875%.
Midday Stock Roundup
The S&P 500 was up 0.3% to 2,993.28 during midday trading.
Sushi Seller Sets IPO Terms
Irvine’s Kura Sushi USA, which operates 22 U.S. revolving sushi bar restaurants, has set the terms for what could be Orange County’s first initial public offering this year.
Synoptek’s Technology Offerings in Overdrive
SERVICES: $100M now; CEO Britt seeks more
Synoptek LLC looks poised to become Orange County’s next tech company with sales topping $100 million this year.
OC 500: Geoffrey Stack
Portfolio value $2B massive Long Beach project … co-runs firm with William Thormalen, John Hagestad (see entry) … new JWA area apts., 520-unit The Royce … recently stepping back … supports Georgetown Hoyas b-ball … First job: ‘watering plants, Boething Treeland Nursey, 1953’ … community: South Coast Rep, UCI Merage Center … can’t miss: November 10th Association: USMC b-day group … bucket list: Antarctica
Glaukos Licenses Eye Care Tech
San Clemente-based Glaukos Corp. (NYSE: GKOS) licensed technology from Intratus Inc. in San Diego to develop and sell new eye care drugs.
BioLargo Gets USAF Work
Environmental engineering firm BioLargo Inc. (OTC BLGO) in Westminster said a unit won two subcontracts to provide air quality environmental engineering work for five United States Air Force bases in Texas and Arizona.
ShiftPixy Revenue, Losses Up
Irvine-based ShiftPixy Inc., (Nasdaq: PIXY), a tech-based temp agency for restaurants, said third-quarter revenue increased 53% to $14.3 million, compared to $9.4 million for the third quarter of fiscal 2018.
Midday Stock Roundup
The S&P 500 was up 0.3% to 2,985.23 during midday trading.
NB Bayview Marriott Sells for $78M
HOSPITALITY: Local buyer Clearview plans upgrades
The Newport Beach Marriott Bayview has been sold to a local investor, in the priciest hotel transaction seen in Orange County in nearly a year.
OC 500: Patty Arvielo
2018 Business Journal Women in Business honoree … co-owns, -runs firm with husband, CEO Rick … 26th-largest nonbank U.S. mortgage lender, $8.5B in originations … $443M revenue, 800+ workers … competes with LoanDepot (see Tony Hsieh) … backs Big Brothers Big Sisters of OC … 2017 gave one ton of food to Second Harvest … first job: entering data, TransUnion
Remediation Firm Adds Execs
American Technologies Inc. in Anaheim named several new executives.
Iteris Gets $3M
Santa Ana-based Iteris Inc. (Nasdaq: ITI) received $2.95 million, part of a five-year, $19.5 million contract to help build “intelligent transportation systems” for the Federal Highway Administration.
Overwatch League Expands Travel Plans
Blizzard Entertainment’s eSports league, based on its Overwatch franchise, will expand its travel schedule next year, its third season, to include two weekends of homebased gaming competitions each of its 20 teams in six countries.
NB Marriott Sells for $78M
Newport Beach Bayview Marriott was sold for $78 million, or about $307,000 per key for the 254-room property.
OC Unemployment Rate Rises to 3%
Orange County’s unadjusted jobless rate rose to 3% in June, up from a revised 2.4% in May and below the year-ago estimate of 3.2%, according to the state Employment Development Department.
Midday Stock Roundup
The S&P 500 was up 0.1% in midday trading to 2,997.27.
SchoolsFirst Moves Ahead on New HQ
SchoolsFirst Federal Credit Union got the city of Tustin’s nod to build its new corporate headquarters.
Epson’s OC Move to Bring 600+
Epson America Inc.’s move of its headquarters from Long Beach to Los Alamitos next year will bring 600 workers to OC, the company said, with room to grow that to more than 700 over time.
UCI Prof Gets $15M Grant
University of California-Irvine professor of pediatrics, neurology, and anatomy Dr. Tallie Baram received a five-year, $15 million National Institutes of Health grant.
Bixby Buys Beyond Cali
Newport Beach-based Bixby Land Co. bought nearly 900,000 square feet of industrial space in Atlanta and Dallas on undisclosed terms.
Veritone Expands Radio Deals
Costa Mesa-based Veritone Inc. (Nasdaq: VERI) said it expects more broadcast clients of its artificial intelligence-based ad tracker.
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