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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
March 19
HEALTHCARE
Shares of ICU Medical Inc. (Nasdaq: ICUI) increased 2.3% to $151.52 apiece with a market cap of $3.7 billion. The San Clemente supplier of infusion therapy-related medical equipment participated in a virtual fireside chat this morning at the KeyBanc Healthcare Forum.
Tarsus Pharmaceuticals Inc. (Nasdaq:TARS) rose 2.2% to $47.21 with a market cap of $1.95 billion. Last week, the Irvine-based maker of medication to treat eyelid inflammation caused by mites announced the pricing of an upsized $125 million public offering at $44.50 a share. The stock is up 50% compared to a year ago.
RESTAURANTS
Chipotle Mexican Grill (NYSE:CMG) is up 1.7% to $48.60 with a market cap of $66 billion. The Newport Beach-based fast-casual restaurant said yesterday that it plans to release first quarter earnings April 23. Analysts forecast sales to grow by 10.3% in the first quarter.
MARKETS
The Nasdaq is up 1.1% to 17,703.81.
— Nancy Luna
March 18
AUTOMOTIVE
Irvine-based electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) rose 4.5% to $11.50 for a market cap of $13 billion. The company’s “long-term trajectory remains intact” despite near-term headwinds, according to Benchmark analysts. The company has also been gaining as Elon Musk’s Tesla stock declines.
SEMICONDUCTORS
Indie Semiconductor Inc. (Nasdaq: INDI) of Aliso Viejo fell 8% to $2.29 per share for a market cap of $463 million, following the tech-heavy Nasdaq lower. Shares of chipmaker Nvidia (Nasdaq: NVDA) dropped 2.1%.
MARKETS
The S&P 500 was down 1.1 % to 5,611.12.
Nasdaq slid 1.5% to 17,534.05.
Gold was up 1.1% at $3,039.30.
–Kevin Costelloe
March 17
FRANCHISING
Irvine-based Xponential Fitness Inc. (NYSE: XPOF) jumped 21% to $9.02 apiece with a market cap of $447 million, recovering from an almost 40% plunge last Friday after reporting fourth-quarter results that disappointed investors of the fitness studio franchisor.
FINANCE
Loandepot Inc. (NYSE: LDI) increased 9.1% to $1.50 and a market cap of $491 million. Shares of the non-bank provider of mortgages are also recuperating from a double-digit drop last week following its fourth-quarter financial results on top of a change in CEO.
See this week’s issue of the Business Journal to read more about LoanDepot Inc.
INDEXES
The Dow 30 increased 1% to 41,908.65 during midday trading.
EMPLOYMENT
- Hearthside Food Solutions is permanently closing its Anaheim facility at 1153 Ocean Circle, impacting 175 employees and effective by April 27, according to Worker Adjustment and Retraining Notification Act (WARN) report.
–Emily Santiago-Molina
March 14
FITNESS
Xponential Fitness Inc. (NYSE: XPOF) plunged 38% to $7.52 with a market cap of $363.3 million. Shares of the Irvine-based franchisor of fitness centers fell after the company reported fourth quarter losses and lowered expectations for 2025 during its March 13 earnings call.
RESTAURANTS
GEN Restaurant Group Inc. (Nasdaq: GENK) jumped 9.8% to $6.20 with a market cap of $205.1 million. The board of directors of the Cerritos-based casual dining concept for Korean barbecue, which got its start in Tustin, announced a stock repurchase program. The program authorizes GEN Restaurant Group to repurchase up to $5 million of its outstanding Class A common stock.
MEDTECH
Shares of Glaukos Corp. (Nasdaq: GKOS) increased 5.5% to $101.94 with a market cap of $5.8 billion. Analysts expect the Aliso Viejo-based manufacturer of eye treatments to grow based on favorable clinical trials and its positive production pipeline.
MARKETS
Nasdaq is up 2.4% to 17,710 and the Dow jumped 1.7% to 41,486.
-–Parimal M. Rohit
March 13
RETAIL
Shares in Tilly’s Inc. (NYSE: TLYS) dropped 30% to $2.33 and a $70.1 million market cap after yesterday’s “disappoint[ing]” fourth quarter results, according to Chief Executive and President Hezy Shaked. The Irvine-based retail chain reported that net sales decreased 15% to $147.3 million, while full-year sales fell 8.6% to $569.5 million.
PHARMACEUTICALS
Tarsus Pharmaceuticals Inc. (Nasdaq: TARS) fell 3.4% to $45.49 and a $1.7 billion market cap. The Irvine-based maker of medication to treat eyelid inflammation today announced the pricing of an upsized $125 million public offering. It’s offering 2.8 million shares of its common stock priced at $44.50 per share.
INDEXES
The Nasdaq fell 1.6% to 17,360.19. Gold increased 1.5% to $2.989.90. Crude oil fell 1.2% to $66.85 a barrel. Indexes fell as President Trump threatened Europe with more tariffs, the Wall Street Journal reported.