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April 9
MEDTECH
Shares of medical device maker Masimo Corp. (Nasdaq: MASI) are down 3.4% to $140.15 apiece with a market cap of $7.6 billion. Medtech stocks tumbled across the U.S. today as China tariffs went into effect. Investors are concerned over supply chain disruptions and added costs.
During its Feb. 25 earnings call, the Irvine-based firm said it has “taken the necessary steps to have appropriate contingency plans in place and we’ll continue to reassess and modify our plans as the situation merits.”
HEALTHCARE
Shares of Tarsus Pharmaceuticals Inc. (Nasdaq:TARS) decreased 8% to $41 apiece with a market cap of $1.7 billion. On Tuesday, President Donald Trump indicated that tariffs on pharmaceutical imports, which typically have been exempt, are coming.
Also down on the news: AbbVie (Nasdaq: ABBV), the parent company of Irvine-based Botox maker Allergan, dropped 4.4% to $168.20 a share with a market cap of $297.4 billion.
MARKETS
Nasdaq is up 1.4% to 15,476. Gold is up 2.8% to $114.90.
Crude oil is down 3.6% to $57.43 a barrel.
EMPLOYMENT
ActiveCare Living LLC is laying off 56 employees effective June 4 due to a permanent closure, according to a state labor department filing issued on April 4. The memory care facility is at 2629 E. Chapman Ave. in Orange.
April 8
RESTAURANTS
Costa Mesa-based restaurant chain El Pollo Loco Holdings (Nasdaq: LOCO) jumped 12% to $10.36 apiece for a market cap of $308 million. The company said it had received an unsolicited, non-binding indication of interest from Biglari Capital Corp. to acquire all of the company’s issued and outstanding shares of common stock that it does not already own.
FINANCE
Banc of California (NYSE: BANC), which moved its headquarters to Los Angeles but maintains a large presense in Orange County, rose 4.8% to $12.69 apiece for a market cap of $2 billion, making up some of the last ground after touching a 52-week low of $11.70 the day before as markets crashed. The bank said it will release first-quarter earnings on April 23.
HEALTHCARE
Orange-based Alignment Healthcare Inc. (Nasdaq: ALHC), a provider of Medicare plans to seniors, rose 9% to $19.50 each for a market cap of $3.8 billion. Stifel earlier today raised the company’s target price to $23 from the previous $18.
INDEXES
The S&P 500 rose 1.8% to 5,150.94
Dow 30 was jumped 2% to 38,707.23
Nasdaq was up 1.7% at 15,874.53
Gold increased 1.3% to $3,011.50
Major stock market indexes rose after Treasury Secretary Scott Bessent said the U.S. was negotiating tariffs that could result in “good deals,” according to the Wall Street Journal.
April 7
FINANCE
First American Financial Corp. (NYSE: FAF) fell 5.3% to $58.36 and a market cap of $6 billion. The Santa Ana-based title insurer is scheduled to report first-quarter results on April 24, where analysts expect Q1 revenue to grow 7.3% to $1.53 billion.
TECHNOLOGY
Aliso Viejo-based Indie Semiconductor Inc. (Nasdaq: INDI) is up 11% to $1.79 per share with a market cap of $338 million following an almost 19% drop on Friday. The semiconductor hit its 52-week low during midday trading today at $1.53, its lowest share price ever.
INDEXES
Gold decreased 1.9% to $2,977.
Oil is down 1.1% to $61.32 per barrel.
The yield on a 10-year Treasury bond jumped 4.6% to 4.168%.
–Emily Santiago-Molina
April 4
DEFENSE
Huntington Beach-based Karman Holdings Inc. (NYSE: KRMN) declined 13.5% to $28.38 with a market cap of $3.8 billion. Karman’s stock dropped despite announcing it acquired Metal Technology Inc., a supplies of high-temperature alloy systems for strategic missile programs.
SEMICONDUCTORS
Indie Semiconductor Inc. (Nasdaq: INDI) is down 18.5% to $1.56 with a market cap of $300 million. The Aliso Viejo semiconductor company reported year-over-year decline in revenue and weak projections for the start of 2025.
MEDTECH
Shares of Masimo Corp. (Nasdaq: MASI) dove 5.7% to $143.76 with a market cap of $7.8 billion. Stocks of Irvine-based Masimo and related companies were hit hard after Pres. Trump applied tariffs to pacemakers, X-ray machines and other medical devices made outside of the country and imported into the U.S.
AEROSPACE
Tustin-based Virgin Galactic Holdings Inc. (NYSE: SPCE) stock also dropped 5.1% to $2.63 with a market cap of $93.5 million. Pres. Trump’s tariffs caused small caps to enter a bear market, with Virgin Galactic one of the major companies in decline. Shares of Virgin Galactic declined by nearly 11% since Tuesday.
INDEXES
Indexes are now down significantly in the past two trading days following the announcements of widespread higher tariffs by President Trump and reciprocal tariffs by China.
The Dow is down 4% to 38,906.40 and Nasdaq dipped nearly 5% to 15,732.22. The S&P 500 is down 4.8% to 5,138.39.
Crude oil declined 7.8% to $61.73.
Gold is also in negative territory and decreased by 2.5% to $3,043.50.
— Parimal M. Rohit
April 3
HEALTHCARE
RxSight Inc. (Nasdaq: RXST) plunged 40% to $15.83 and a $635.7 million market cap. Shares in the Aliso Viejo-based maker of cataract lenses hit a 52-week low of $14.37 today after the company lowered its 2025 revenue guidance from $185 million to $197 million to $160 million to $175 million.
AUTOMOTIVE
Rivian Automotive Inc. (Nasdaq: RIVN) fell 6.2% to $11.72 and a $13.2 billion market cap. The Irvine-based electric vehicle maker yesterday reported manufacturing 14,611 vehicles for the first quarter, up 4.5% from a year ago. Deliveries, however, decreased 36% to 8,640 vehicles on lower demand for EVs, the company said.
INDEXES
The S&P 500 was down 3.4% to 5,476.18, the Dow 30 decreased 2.7% to 41,087.10 and the Nasdaq fell 4.7% to 16,772.16 during midday trading. Stocks plummeted following President Trump’s tariff announcement on Wednesday, implementing a baseline tariff of 10% on imported goods to the U.S.
Crude oil fell 6.8% to $66.78 per barrel.
Gold fell 1.1% to $3,130.10.
The yield on a 10-year Treasury bond was down 3.1% to 4.066%.
–Yuika Yoshida
April 2
MEDTECH
CG Oncology Inc. (Nasdaq: CGON), a leader in bladder cancer immunotherapy, is up 3.5% to $22.83 with a market cap of $1.7 billion. The Irvine-based firm, which went public last year, announced Monday that it will discuss later this month the latest updates of its experimental bladder cancer treatment at the 120th American Urological Association Annual Meeting, the world’s largest urology conference.
MANUFACTURING
Shares of Pro-Dex Inc. (Nasdaq: PDEX) are up 7.8% to $55.40 with a market cap of $180.7 million. The contract manufacturer’s stock is up 57% since it reported second quarter earnings Jan. 30, where revenue increased by 33% to $16.8 million for the three months ended Dec. 31, 2024. The Irvine firm was the fourth fastest growing small public company in Orange County, according to the Business Journal’s latest list published in this week’s edition.
RESTAURANTS
Shares of Yoshiharu Global Co. (Nasdaq: YOSH) increased 13% to $16.54 with a market cap of $28.6 million. The Buena Park-based ramen chain announced yesterday that it has regained compliance with Nasdaq’s minimum stockholders’ equity requirement. The company also reported fourth quarter revenue increasing 47% to $3.7 million.
–Nancy Luna
April 1
AUTOMOTIVE
Irvine-based EV maker Rivian Automotive (Nasdaq: RIVN) rose 8% to $13.44 apiece for a market cap of $15 billion. Investor website The Motley Fool said yesterday that “Rivian stock is a buy before May 6,” which is the day after the company is expected to release its first-quarter earnings.
ADVERTISING
Digital ad software maker Viant Technology Inc. increased 4.8% to $13.01 per share for a market cap of $820 million. Zacks Equity Research said yesterday that the company’s first-quarter revenues “ are expected to be $66.5 million, up 94.9% from the year-ago quarter.”
INDEXES
The yield on a 10-year Treasury bond fell 1.8% to 4.171%
–Kevin Costelloe
March 31
RESTAURANTS
Yoshiharu Global Co. (Nasdaq: YOSH) fell 12% to $12.33 and a market cap of $21.3 million. The Buena Park-based ramen chain last week reported an additional $1.65 million in capital commitments, increasing the stockholders’ equity above the $2.5 million threshold required for continued listing on the Nasdaq, the company said. Its appeal hearing is scheduled for tomorrow.
HEALTHCARE
Eledon Pharmaceuticals Inc. (NYSE: ELDN) decreased 4.2% to $3.21 and a $191.3 million market cap. Shares in the Irvine-based drug research company have fallen 6.7% since reporting fourth quarter and full year results on March 20.
INDEXES
Gold was up 1.1% to $3,147.80.
The Nasdaq decreased 1.3% to 17,101.89.
Crude oil rose 2.8% to $71.35.
–Yuika Yoshida
March 28:
MEDTECH:
Shares of Irvine-based Beta Bionics (Nasdaq: BBNX) decreased 7.4% to $11.75 with a market cap of $508.7 million. The Irvine-based maker of an automated insulin delivery system for people with type 1 diabetes reported this week a net loss of $54.8 million for 2024 on top annual sales of $65.1 million. On Thursday, the company appointed Gerard Michel, CEO of Delcath Systems (Nasdaq: DCTH), to its board.
See the March 31 print edition for more Beta Bionic news.
RETAIL
Irvine-based Boot Barn Holdings Inc. (NYSE: BOOT) dropped 3.5% to $103.49 apiece with a market cap of $3.2 billion. The retailer’s shares have fallen about 36% since it announced the Nov. 22 departure of CEO Jim Conroy, who is now leading Ross Stores.
INDEXES
The Nasdaq was down 2.35% to 17,377.95 while the S&P 500 fell 1.8% to 5,591.91 and the Dow 30 dropped 1.5% to 41,671.54 as consumer sentiment declined amid fears on inflation and jobs, the Wall Street Journal reported.
MARKETS
Crude oil declined 1% to $69.22 a barrel.
–Nancy Luna
March 27
AUTOMOTIVE
Rivian Automotive Inc. (Nasdaq: RIVN) rose 6.1% to $12.84 and a $14.5 billion market cap. The Irvine-based electric vehicle maker yesterday announced it’s spinning out its micromobility business into a new company called Also Inc. Rivian founder and CEO RJ Scaringe will serve as chairman.
For more on Rivian, read next week’s issue of the Business Journal.
HEALTHCARE
RxSight Inc. (Nasdaq: RXST) rose 11.1% to $27.08 and a $1 billion market cap. Shares in the Aliso Viejo-based maker of cataract lenses may benefit as rival Bausch + Lomb has announced a recall on its lenses, according to a Bank of America analyst.
–Yuika Yoshida
March 26
RESTAURANTS
Yoshiharu Global Co. (Nasdaq: YOSH) dropped 12% to $14.47 with a market cap of $25.1 million. The Buena Park-based restaurant chain specializing in Japanese ramen and rolls announced today it entered additional financial commitments with certain investors for $1.65 million, allowing the company to continue its listing on Nasdaq.
FITNESS
Shares of Xponential Fitness Inc. (Nasdaq: XPOF) dropped by 4.3% to $7.83 with a market cap of $380.5 million. The Irvine-based franchisor of fitness centers had its stock decline 35% this month after forecasting revenue lower than investors expected.
MARKETS
Nasdaq is down 1.8%% to 17,939.80 on worries about the impact of higher tariffs and crude oil jumped 1.3% to $69.89 per barrel.
–Parimal M. Rohit
March 25
AEROSPACE
Space tourism company Virgin Galactic Holdings (NYSE: SPCE) was down 6.2% at $3.79 per share for a market cap of $109 million. Investor website Simply Wall St. said yesterday that shareholders have been substantially diluted in the last year, while citing the Tustin-based company’s “volatile share price” over the past three months.
RESTAURANTS
Ramen chain Yoshiharu Global Co. (Nasdaq: YOSH) fell 6.6% to $16.59 per share for a market cap of $22.5 million. The Buena Park-based company last week reported $1.9 million in capital commitments in an attempt to ward off a possible delisting from the Nasdaq.
BEAUTY PRODUCTS
Newport Beach-based aesthetics company Evolus Inc. (Nasdaq: EOLS) was down 4.4% at $12.44 per share for a market cap of $787 million. The company announced earlier today that members of its management team will participate in a fireside chat and investor meetings at the Needham Annual Virtual Healthcare Conference on April 8.
–Kevin Costelloe
March 24
RETAIL
Irvine-based Boot Barn Holdings Inc. (NYSE: BOOT) jumped 6.4% to $111.43 apiece with a market cap of $3.4 billion. However, shares have fallen around 37% since its 52-week high in late January.
TECHNOLOGY
Viant Technology Inc. (Nasdaq: DSP) rose 5.8% to $13.19 and a market cap of $832 million. Shares of the Irvine-based firm are recovering from falling 33% since reporting Q4 results on March 3.
INDEXES
The S&P 500 is up 1.6% to 5,755.78, the Dow 30 increased 1.2% to 42,476.01 and the Nasdaq rose 2% to 18,144.86 during midday trading. Stocks rallied on news that President Trump, once again, pivoted on tariffs with news reports saying the administration might exclude a “set of sector specific tariffs” come April 2, such as imports in industries like automobiles, semiconductors and pharmaceuticals.
Oil is up 1.3% to $69.19 per barrel.
The yield on a 10-year Treasury bond rose 1.43% to 4.313%.
–Emily Santiago-Molina
March 21
DEFENSE
Shares of Karman Holdings Inc. (Nasdaq: KRMN) declined by nearly 7.5% to $3331 with a market cap of $4.4 billion. The Huntington Beach-based fabricator of space and defense systems was down nearly 10% since March 19 when it hit its highest price ever. The company went public in February.
RESTAURANTS
Clean Energy Fuels Corp. (Nasdaq: CLNE) stock decreased by 4.3% to $1.68 with a market cap of $373 million. The Newport Beach-based oil and gas company has now fallen 62% since reporting Q4 results on Feb. 24.
–Parimal M. Rohit
March 20
HEALTHCARE
Staar Surgical Co. (Nasdaq: STAA) decreased 3.7% to $17.57 and a $866.6 million market cap. The Lake Forest-based maker of implantable lenses on Monday announced changes to its leadership structure, including the creation of new positions of president and chief operating officer for Warren Foust.
“When I stepped into the CEO role a few weeks ago, I began the process of aligning and streamlining our organizational structure and management team to drive revenue growth,” said Chief Executive Steve Farrell, who became CEO on Feb. 26.
RETAIL
Tilly’s Inc. (Nasdaq: TLYS) dropped 5% to $2.34 and a $70.4 million market cap. Shares in the Irvine-based retail chain fell about 30% since reporting what CEO and President Hezy Shaked referred to as disappointing fourth quarter results on March 12.
INDEXES
Crude oil rose 1.6% to $68.20 a barrel.
–Yuika Yoshida