Dec. 12
–Kevin Costelloe
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Dec. 11
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Dec. 10
HEALTHCARE
Brea-based dental products maker Envista Holdings Corp. (NYSE:NVST) is up 5% to $21.65 apiece with a market cap of $3.6 billion. Shares are up after Barclays initiated coverage on the stock with an ‘overweight’ rating and a $24 price target, according to financial publication StockStory.
Irvine-based Eledon Pharmaceuticals (Nasdaq: ELDN) is up 9.2% to $1.71 a share with a market cap of $128 million. The drug research company’s shares are still down 5.5% from a month ago when it announced a $50 million public offering where the proceeds would be used to support clinical development, advance its pipeline programs, and for general corporate purposes.
Staar Surgical Co. (Nasdaq: STAA) is down 5.4% to $24.03 per share with a market cap of $1.2 billion. Yunqi Capital Limited, which owns a 5.1% stake in the Lake Forest-based medical device maker, released a letter to shareholders today stating its opposition to Alcon’s recent revised bid for the company. The new offer adds $150 million to Alcon’s original offer of $28 per share, or $1.5 billion.
ENVIRONMENT
Shares of Clean Energy Technologies Inc. (Nasdaq: CETY) are up 5.2% to $1.01 with a market cap of about $7.5 million. The Irvine firm today unveiled a new energy platform that integrates with anaerobic digestion (AD) plants and renewable natural gas (RNG) facilities that turn organic waste into biogas, improving the overall efficiency and economics of RNG production, the company said.
RETAIL
Compass Diversified (NYSE: CODI) is down 7% to $5.42 apiece with a market cap of $410 million. Earlier this week, the parent company of troubled local retailer Lugano filed restated financial results for fiscal years 2022, 2023 and 2024. The updated filings follow allegations of accounting irregularities tied to its former chief executive and founder Moti Ferder.
-Nancy Luna
Dec. 9
FITNESS
Xponential Fitness Inc. (NYSE: XPOF) jumped 15% to $7.90 a piece with a market cap of $387 million. The Irvine-based fitness boutique today announced it has entered into a new credit agreement to refinance the company’s existing debt with a new five year term loan of $525 million.
SPACE
Virgin Galactic Holdings Inc. (Nasdaq: SPCE) fell 17% to $3.77 per share with a $238 million market cap. Shares in the Tustin-based space tourism company are down after announcing a capital realignment plan today. The company said it would repurchase and retire about $355 million of its existing convertible notes in order to reduce debt.
INDEXES
Crude oil decreased 1.1% to $58.23 per ounce.
–Yuika Yoshida
Dec. 8
HEALTHCARE
Staar Surgical Co. (Nasdaq: STAA) was down 3.7% to $24.43 per share with a market cap of $1.2 billion. The Lake Forest-based medical device maker reported on Dec. 8 that its go-shop period ended Saturday, during which Staar Surgical engaged with 21 third parties potentially interested in acquisition deals. None of the firms submitted a competing proposal to the standing Alcon merger agreement.
Following the report, proxy advisory firm Egan-Jones Ratings Company reiterated its recommendation that shareholders vote “AGAINST” the Alcon deal.
TECHNOLOGY
Irvine-based Lantronix Inc. (Nasdaq: LTRX) rose 4.2% to $5.78 with a $229 million market cap. Shares are up since Lantronix founder Bernhard Bruscha announced a donation of 3 million shares of common stock from his individual holdings to the TL Foundation based in Germany on Dec. 3
Bruscha still holds more than 2.3 million shares.
MARKETS/INDEXES
Crude oil was down 1.8% to $59 a barrel.
–Emily Santiago-Molina
Dec. 5
RETAIL
Compass Diversified (NYSE: CODI), owner of local firms 5.11 Tactical and Lugano Diamonds, dropped 20% to $5.89 per share with a market cap of $445 million. In a Dec. 4 conference call, the Westport, Conn.-based company said its current priority is to reduce debt and has started to consider selling subsidiaries to do so, Bloomberg reported.
Compass is preparing to restate financials for fiscal years 2022 to 2024 after reporting alleged fraud at Newport Beach-based jeweler Lugano.
AI
Irvine-based AI company Veritone (Nasdaq: VERI) fell 2.8% after investor website Simply Wall St said earlier today “the most pressing issue remains Veritone’s ongoing losses and cash needs, which still pose dilution and funding risks in the near term.”
EMPLOYMENT
FreshRealm told California state officials that 53 employees will lose their jobs on Jan. 31 due to a permanent closure in San Clemente.
–Kevin Costelloe and Emily Santiago-Molina
Dec. 4
MEDTECH
Edwards Lifesciences Corp. (NYSE: EW) rose 1.3% to $85.04 and a $49 billion market cap. The Irvine-based medical device maker today reaffirmed its previously increased constant currency growth guidance of 9% to 10% and gave other company updates during its annual investor conference.
TECHNOLOGY
Aliso Viejo-based indie Semiconductor Inc. (Nasdaq: INDI) rose 3.6% to $4.51 per share with a $919 million market cap. It was announced today that San Jose-based Mixel’s mixed-signal intellectual property (IP) cores have been integrated into indie’s automotive radar processor and monolithic microwave integrated circuit (MMIC) products.
RETAIL
Tilly’s Inc. (Nasdaq: TLYS) fell 6.1% to $1.69 apiece with a $51.5 million market cap. Shares in the Irvine-based apparel company are down after yesterday reporting third quarter results, despite beating analysts’ expectations. Total net sales decreased 2.7% to $139.6 million, compared to the 4.6% decrease expected by analysts.
INDEXES
The yield on a 10-year Treasury bond increased 1% to 4.098%
Crude oil rose 1.5% to $59.86 per barrel.
–Yuika Yoshida
Dec. 3
RETAIL
Shares of Tilly’s Inc. (Nasdaq: TLYS) are up 14% to $1.67 apiece with a $51 million market cap. The post Black Friday boost comes as the Irvine-based retailer is set to report fiscal third-quarter results today after the market closes.
TECHNOLOGY
Aliso Viejo-based indie Semiconductor Inc. (Nasdaq: INDI) rose 9.7% to $4.19 per share with a $846 million market cap. Investing site Wall Street Zen recently upgraded it from a “sell” to a “hold.”
ENVIRONMENT
Shares of Clean Energy Technologies Inc. (Nasdaq: CETY) dropped 8.4% to $1.10 with a market cap of about $5.9 million. The stock is down 56% since regaining full compliance with the Nasdaq’s minimum bid price requirement on Oct. 23.
–Nancy Luna
Dec. 2
PHARMACEUTICALS
Newport Beach-based beauty products company Evolus Inc. (Nasdaq: EOLS) fell 6.3% to $6.39 per share for a market cap of $414 million. Investor website Simply Wall St. said last week that “consensus from 7 of the American Pharmaceuticals analysts is that Evolus is on the verge of breakeven.”
TECHNOLOGY
Irvine-based AI company Veritone (Nasdaq: VERI) rose 14% to $4.90 per share for a market cap of $450 million. Earlier today Needham reiterated its Buy rating for the stock and set the price target at $10.
MARKETS
Gold fell 1.2% to $4,224.80.
EMPLOYMENT
Verizon told California officials the company plans to permanently lay off 139 employees in Irvine as of Jan. 23.
Van Law Food Products Inc. said it plans to lay off 50 employees in Fullerton as of Jan. 23.
–Kevin Costelloe
Dec. 1
TECHNOLOGY
Netlist Inc. (OTCQB: NLST) jumped 15% to 72 cents per share with a market cap of $218 million. The Irvine-based computer memory products maker announced on Monday that the United States Patent and Trademark Office (USPTO) and the United States Department of Justice (USDOJ) have filed a joint public interest comment related to Netlist’s complaint against Samsung, Google and Super Micro before the ITC.
RETAIL
Shares of Tilly’s Inc. (Nasdaq: TLYS) were up 4.3% to $1.43 apiece with a $44 million market cap. The Irvine-based retailer is scheduled to report fiscal third quarter results on Wednesday, Dec. 3.
One analyst is forecasting a sales decrease of 4.6% to $136.9 million for the third quarter, a potential improvement compared to Tilly’s sales decrease of 7.1% in the fiscal second quarter.
MARKETS/INDEXES
Crude oil was up 1.4% to $59.38 a barrel.
The yield on a 10-year Treasury bond rose 1.92% to 4.094%.
–Emily Santiago-Molina
Nov. 28
MEDTECH
Eledon Pharmaceuticals Inc. (Nasdaq: ELDN) jumped 4.8% to $1.63 and a $122 million market cap. Shares in the Irvine-based company are up 6% since reporting preliminary data from its first six patients with Type 1 Diabetes treated with its Tegoprubart medication on Nov. 18.
TECHNOLOGY
TTM Technologies Inc. (Nasdaq: TTMI) rose 3.2% to $70.49 with a market cap of $7.2 billion. The Santa Ana-based printed circuit board manufacturer announced that Chief Executive and President Edwin Roks and Chief Financial Officer Dan Boehle will participate in upcoming conferences next month.
INDEXES
Gold increased 1% to $4,243 an ounce.
Crude oil rose 1.4% to $59.48 per barrel.
–Yuika Yoshida
Nov. 27
