OC BUSINESS JOURNAL DAILY NEWS
BJ’s Income Up; Shares Down on Earnings Miss
Shares in Huntington Beach-based BJ’s Restaurants Inc. (Nasdaq: BJRI) declined 12% to a market cap of $1 billion in after-hours trading as the casual dining chain missed quarterly earnings estimates by a penny a share.
Blackberry Completes Cylance Buy
Canada’s Blackberry Ltd (NYSE: BB) completed the previously announced $1.4 billion acquisition of Irvine’s Cylance Inc., a provider of Internet security using artificial intelligence.
Midday Stock Roundup
The S&P 500 fell 0.2% in midday trading to 2,779.92.
PIMCO’s $300B Man: King of the Short-Term Portfolio
On any given weekend, Jerome Schneider may dress like a typical surfer dude hanging out in Newport Beach with a scraggly beard and a vintage T-shirt from his high school days.
OC 500: Lynsi Snyder
Heiress to 70-year-old chain founded by grandparents … 3rd-largest OC-based, $910M annual sales, 335 locations, six states … opens distribution centers before expansion to ensure fresh food … no franchising … fourth on Glassdoor best companies list … guest on Jay Leno’s ‘Garage’ car show with 1941 Willys Coupe … Business Journal OC’s Wealthiest; OC 50
Midday Stock Roundup
The S&P 500 was up 0.2% in midday trading at 2,783.90.
Feds Sue Ex-Reg Owners for $55M
The federal Pension Benefit Guaranty Corp. sued the former owners of the Orange County Register on Feb. 14 alleging “breach of fiduciary duties” related to the newspaper’s employee pension fund.
Sundt, Cypress, Begin $80M ‘SEM’ Building
Irvine-based Sundt Construction broke ground on an $80 million project at Cypress College.
Ingram Micro’s Latest Push: B2B Incubator
Ingram Micro Inc., which grew to become Orange County’s largest revenue producer—not to mention the world’s largest wholesale technology distributor—by shipping software and other tech products to a network of nearly 300,000 resellers—is once again adapting its business model to thrive in the digital age, while potentially boosting the likelihood of another sale of the Irvine-based firm later this year.
OC 500: Donald Vodra
Second man at OC’s second-biggest land owner, master planner, developer … named president 2017 when Anthony Moiso (see entry) named chairman … Moiso held title 45 years … Vodra: banking career, then 20+ years RMV … college Cornhusker … charitable beneficiaries: Orangewood Laura’s House
Midday Stock Roundup
The S&P 500 was up 0.2% in midday trading to 2,781.93.
Applied Innovation Doubling Cove Footprint at UCI Park
The Cove, the University of California-Irvine’s tech facility and office space that is home to the school’s Applied Innovation business and entrepreneur incubator program, is gearing up to expand its presence in Orange County’s startup scene.
OC 500: Manouch Moshayedi
Partners with brothers Mike, Mark (see entry) … owns blocks of real estate, buildings along Mariner’s Mile, PCH … early stages of redevelopment … co-founded, ran, computer storage device maker STEC Inc. sold to Western Digital, 2013, $340M … likes sailing … MBA, Long Island U; CSUF bachelor’s, structural engineering … Mike has same bachelor’s, CSULB
Security Blanket
Palmer Luckey's Anduril Touts Border Technology, Refines Irvine HQ Plans
Anduril Industries, one of Orange County’s more closely watched startup firms, is ramping up its public profile, not to mention its defense and security-focused technology offerings, while shedding more light on its local growth plans.
Midday Stock Roundup
U.S. markets are closed for Presidents Day.
OC 500: William A. Shopoff
Master developer, Uptown Newport, 1K+ residential units … seeking entitlements for nearby residential towers; HB property down the line … sold Anaheim industrial land to Tri Pointe (see Doug Bauer) for 232-home infill; retained multifamily parcel … roots for Texas Longhorns football … first car: lime green Mercury Comet … first job: landscaping, pool cleaning at 12
Midday Stock Roundup
The S&P 500 was up 0.8% in midday trading to 2,767.97.
Women Entrepreneurs Take Center Stage
INNOVATION: $1.1B in deals, job growth, more in store
Don’t tell Kristine Smith that Orange County’s a tough market for entrepreneurs to get their visions realized, projects funded, and companies launched.
OC 500: Jeff Moorad
Private equity sports investor ... ran Diamondbacks, Padres ... previously: top sports agent … has co-founded, invested in, sold companies with partners incl. Peter Ueberroth (see entry) … backs ALS research (see Augie Nieto) … MLB one of largest U.S. law firms, $2B revenue, 2,000 attorneys … earned bachelor’s, UCLA; JD, Villanova … endowed baseball scholarship, Bruins; founded eponymous sports law center ’Nova
Ex-Fairmont GM Gets Wineries Post
Carter Hospitality Group in Santa Ana named former Fairmont Newport Beach General Manager Karl Kruger to run two Temecula winery resorts it owns.
Midday Stock Roundup
The S&P 500 was flat at 2,752.55.
Skyworks Replicates Broadcom Success
Philip Carter in two short years has helped push the accounting department at Skyworks Solutions Inc. further into the digital age, just as he did in his previous role at Broadcom Inc.
OC 500: Erwin Raphael
Previously GM, West Region director, Hyundai Motor North America … named to lead luxe brand Genesis, 2016, year after launch … reports sales separately … prior: exec roles, Chrysler, Toyota … U.S. Army vet … serves Army Advisory, Executive Leadership Councils … bachelor’s, chem, math; master’s, econ, Ohio State U … raised St. Croix, U.S. Virgin Islands
Midday Stock Roundup
The S&P 500 rose 0.3% in midday trading to 2,753.69.
Sunstone Quarterly Revenue Up
Aliso Viejo-based hotel REIT Sunstone Hotel Investors Inc. (NYSE: SHO) reported better-than-expected fourth-quarter results Tuesday, with revenue increasing 3.2% to $280.9 million in the period.
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