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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Costa Mesa VCers Do It Differently

FINANCE: CerraCap pair tries to hit all out of the parkCerraCap Ventures LLC co-founders Saurabh Ranjan and Saurabh Suri decided to try a different model when they began the venture capital firm in 2015.

Select Interior 3Q Sales Up 35%

Select Interior Concepts Inc., an Anaheim-based building products and services company, reported third quarter sales increased 35% to $127.6 million from the same period a year earlier.

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Kofax Buys Unit for $400M

Irvine-based Kofax Inc. is paying $400 million in cash to obtain the document imaging division of Nuance Communications Inc. (Nasdaq: NUAN).

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Cylance Being Sold for $1.5B?

Irvine’s Cylance Inc. may be sold to BlackBerry Ltd for as much as $1.5 billion, according to a Business Insider report that cited unidentified people familiar with the matter.

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Allied Universal Names CFO

Santa Ana-based Allied Universal, the largest U.S. security firm, named Andrew Vollero incoming chief financial officer to replace Bill Torzolini, who retires next year after 15 years in the role.

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Midday Stock Roundup

The S&P 500 declined 1.1% in midday trading to 2,774.09.

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AutoWeb Q3 Revenue Down, Stock Slides

AutoWeb Inc. (Nasdaq: AUTO), an Irvine-based marketing firm for automakers and dealers, reported a third quarter loss of $18 million, or $1.41 per share, compared to net income of $69,000 a year ago.

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Skyworks Shares Down on Guidance

Shares of Skyworks Solutions Inc. are down after the chipmaker provided December quarter revenue and earnings targets below Wall Street expectations.

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Disney Resorts Q4 Revenue Up 9%

Walt Disney Co.’s parks and resorts division, which includes Anaheim’s Disneyland Resort, said fourth quarter profit climbed 11% to $829 million as revenue rose 9% to $5.1 billion from the same period a year earlier.

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OC Hotel Occupancy Dips in September

Several Orange County hotel submarkets in September showed lower average daily rates and revenue per available room year-over-year, and five of seven showed lower occupancy, which also fell countywide to 77% from 80% for the same month last year.

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Alteryx Q3 Revenue Up

Alteryx Inc. reported revenue increased 59% year-over-year to $54.2 million while posting a narrower loss of $244,000, compared to a loss of $3.3 million in the same period a year ago.

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Beacon Pointe Hires UBS Exec

Newport Beach’s Beacon Pointe Advisors, which has more than $9 billion in assets under management, hired Michael Dow, an executive at UBS Global Asset Management, as chief investment officer and chairman of its investment committee.

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AVD Sales, Income Up

Newport Beach-based American Vanguard Corp. (NYSE: AVD) reported third quarter sales climbed 24% to $111.8 million while net income jumped 60% to $6.5 million.

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Habit Names Marriott Creative Exec to Board

Habit Restaurants Inc. (Nasdaq: HABT) in Irvine added Karin Timpone to its board of directors, which now has eight members.

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El Pollo Loco 3Q Sales, Profit Rise

El Pollo Loco Holdings Inc. (Nasdaq: LOCO) in Costa Mesa reported third quarter net income of $6.8 million on revenue of $106.7 million, compared with a loss of $4 million on revenue of $101.2 million in the same period a year ago.

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Masimo 3Q Sales up 8.9%

Masimo Corp. (Nasdaq: MASI) reported third quarter revenue climbed 8.9% to $210.6 million. Product sales grew 12% to $202.1 million for the quarter while royalty and other revenue declined 38% to $8.5 million.

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Taco Bell Strong; Yum Mixed

Irvine-based Taco Bell Corp. sales rose 8% to $2.6 billion in its most recent quarter, making it the top-performing chain in Louisville-based parent company Yum Brands Inc. (Nasdaq: YUM) portfolio for the period.

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Duck, Duck Donuts

Two down, three to go: Duck Donuts plans five locations in Orange County; two are open, in Huntington Beach and Irvine, the latter at Trade Food Hall.

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Habit Revenue, Swings to Loss on Charge

Habit Restaurants Inc. (Nasdaq: HABT) in Irvine reported a $600,000 net loss, including a one-time charge, on revenue of about $105 million in its most recent quarter, compared with $400,000 in net income on revenue of $85 million, year-over-year.

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BJ’s Revenue, Income Up

BJ’s Restaurants Inc. (Nasdaq: BJRI) in Huntington Beach earned nearly $9 million in net income on $270 million in revenue in its most recent quarter, up 257% and 10% respectively.

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Habit Taps QSR Vet for Brand Post

Habit Restaurants Inc. (Nasdaq: HABT) in Irvine named Iwona Alter chief brand officer; she joins the fast-casual burger chain December 10 from San Diego-based Jack in the Box Inc. (Nasdaq: JACK).

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Chipotle Revenue Up

Chipotle Mexican Grill Inc. (NYSE: CMG) in Newport Beach said revenue increased nearly 9% to $1.2 billion and adjusted net income was 60% higher to about $60 million in its most recent quarter.

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Lantronix Reports Higher Revenue, Lower Loss

Irvine-based Lantronix Inc. (Nasdaq: LTRX) reported net revenue of $12.3 million, up 16% year-over-year, and a net loss of $83,000, an 87% improvement, in its most recent quarter.

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Edwards: Sales Up, Shares Dip

Edwards Lifesciences Corp. (NYSE: EW) earned $226 million on sales of $907 million in its most recent quarter. Sales rose 10% year-over-year but missed expectations and its shares dipped 2% to a $30 billion market cap.

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UCI Gets $14.7M Grant

The University of California-Irvine said Tuesday it received a five-year grant for $14.7 million from the U.S. Department of Education.

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Opus Shares Plummet on Q3 Report

Shares of Opus Bank (Nasdaq: OPB) closed more than 20% Monday after the Irvine bank reported third quarter earnings that missed analyst estimates; shares leveled off in Tuesday midday trading.

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