May 10
ADVERTISING
American Vanguard Corp. (NYSE: AVD) fell 25% to $9.46 a share and a $263 million market cap. The Newport Beach-based agricultural products company yesterday reduced its projected annual sales growth from as much as 12% to a maximum of 9% after the company suspended sales of its Dacthal herbicide “in light of concerns raised by the U.S. Environmental Protection Agency,” CEO Eric Glenn Wintemute told analysts.
ENERGY
Clean Energy Fuels Corp. (Nasdaq: CLNE) climbed 9.8% to $2.65 a share and a $580 million market cap. The Newport Beach-based renewable natural gas supplier today released first-quarter results that beat analysts’ estimates.
INDEXES
The yield on a 10-year Treasury bond rose 1.2% to 4.50%.
–Kaitlin Aquino
May 9
BIOPHARMA
CG Oncology Inc. (Nasdaq: CGON) fell 2.5% to $31.64 and a $2.1 billion market cap. The Irvine-based immunotherapy company today reported first-quarter loss of 36 cents a share, wider than the 31-cent loss expected by four analysts. See Monday’s print issue of the Business Journal for more details.
HEALTHCARE
ICU Medical Inc. (Nasdaq: ICUI) rose 4.5% to $105.14 and a $2.5 billion market cap. The San Clemente-based maker of devices for IV infusion reported first-quarter revenue of $566.7 million on May 7, topping analysts’ consensus of $522.3 million.
                                                      — Raymond Dinh
May 8
MEDTECH
Staar Surgical Co. (Nasdaq: STAA) declined 15% to $39.55 and a $2 billion market cap. The Lake Forest-based provider of implantable eye lenses yesterday maintained its 2024 sales forecast, citing a macroeconomic headwinds.
Masimo Corp. (Nasdaq: MASI) fell 14% to $116.92 and a $6.2 billion market cap. The Irvine-based maker of oxygen monitoring devices yesterday forecast revenue and adjusted profit for the second quarter and year that may not meet some analysts’ expectations.
                                                  —Peter J. Brennan
May 7
—
May 6
AEROSPACEÂ
Virgin Galactic Holdings Inc. (NYSE: SPCE) increased 12% to $1.07 per share with a market cap of $438 million. The space tourism company today began operations at its newly opened testing facility in Irvine for Virgin’s Delta Class spaceships. Â
TECHNOLOGYÂ
Irvine-based Lantronix Inc. (Nasdaq: LTRX) rose 6.9% to $3.89 apiece and a $146 million market cap. The firm’s shares are now up 13% since April 29 when it reported third quarter results.Â
MARKETSÂ
Gold increased 1.1% to $2,335.Â
–Emily Santiago-Molina
May 3
HEALTHCARE
Alignment Healthcare Inc. (Nasdaq: ALHC) soared 26% to $6.63 per share with a market cap of $1.3 billion. The Orange-based firm yesterday reported first quarter revenue of $629 million showing a 43% increase year over year, which surpassed its Q1 revenue forecast of $590 million to $600 million.
RESTAURANTS
Costa Mesa-based El Pollo Loco Holdings Inc. (Nasdaq: LOCO) jumped 16% to $9.95 apiece and a $310 million market cap. The restaurant chain’s first quarter sales profit beat analysts’ average estimate of 14 cents per share. Yesterday, El Pollo Loco reported net income of $5.9 million, or 19 cents per diluted share, for the quarter ended March 27, 2024.
INDEXES
The S&P 500 rose 1.2% to 5,125.12, the Dow was up 1.2% to 38,665.37 and the Nasdaq increased 1.9% to 16,148.93 during midday trading.
The Labor Department reported today a slowdown in hiring with U.S. employers adding 175,000 jobs in April, which was below expectations.
The yield on a 10-year Treasury bond fell 1.33% to 4.51%.
–Emily Santiago-Molina
May 2
HEALTHCARE
The Ensign Group Inc. (Nasdaq: ENSG) fell 2.3% to $116.73 apiece and a $6.6 billion market cap. The San Juan Capistrano-based healthcare services firm yesterday reported first quarter adjusted revenue of $1 billion, up 14% over the prior year, and diluted earnings per share of $1.19, an increase of 13% from a year ago.
While the company’s adjusted first quarter profit exceeded consensus estimates, Ensign reiterated its full year forecast. The shares last month reached an all-time high of $127.58.
TECHNOLOGY
Santa Ana-based TTM Technologies Inc. (Nasdaq: TTMI) jumped 9.8% to $16.23 per share with a market cap of $1.6 billion. The tech manufacturer yesterday reported first quarter net sales of $570 million and net income of 10 cents per diluted share, which beat the general analyst consensus.
INDEXES
The Nasdaq increased 1.2% to 15,785.13 during midday trading.
–Emily Santiago-Molina
May 1
TECHNOLOGY
Skyworks Solutions Inc. (Nasdaq: SWKS) declined 15% to $90.17 and a $14.5 billion market cap. The Irvine-based chipmaker yesterday forecast third-quarter results that will miss analysts’ consensus estimates. For more on Skyworks, see the May 6 print issue of the Orange County Business Journal.
TECHNOLOGY
Computer network products maker Lantronix Inc. (Nasdaq: LTRX) in Irvine surged 11% to $3.84 per share for a market cap of $144 million, a day after posting third-quarter earning results that beat analysts’ estimates.
FINANCE
Irvine-based mortgage lender LoanDepot Inc. (NYSE: LDI) fell 3% to $2.08 per share for a market cap of $677 million. The shares have dropped 15% since April 3 when data showed the Federal Reserve was unlikely to cut interest rates.
                                               –Kevin Costelloe
April 29
CONSTRUCTION
Shimmick Corp. (Nasdaq: SHIM) decreased 12% to $3.52 and a $92 million market cap. Shares in the Irvine-based construction firm have fallen by half since March 28 when it reported fourth-quarter results that disappointed investors.
HEALTHCARE
Santa Ana-based NKGen Biotech Inc. (Nasdaq: NKGN) rose 8.7% to $1.75 and a $40 million market cap. The clinical-stage biotech firm today announced that the Food and Drug Administration cleared its application for Parkinson’s disease cell therapy treatment.
INDEXES
Oil fell 1.06% to $82.96 per barrel.
The yield on a 10-year bond decreased 1% to 4.63%.
–Yuika Yoshida
April 26
HEALTHCARE
Santa Ana-based NKGen Biotech Inc. (Nasdaq: NKGN) dropped 16% to $1.66 apiece and a $37 million market cap. The clinical-stage biotech firm announced an update on a current trial entitled “Evaluating Adoptive Cellular Immunotherapy for Neurodegeneration with Autologous SNK01.”
“We believe the ability of SNK01 to have a positive impact on all three proteins suggests that it could have clinical utility for numerous neurodegenerative diseases well beyond just Alzheimer’s and Parkinson’s,” Chief Executive Dr. Paul Y. Song said in a statement.
Irvine-based Aeon Biopharma Inc. (NYSE: AEON) jumped 10% to $4.67 per share with a market cap of $178 million. Shares have been volatile in the past two months, falling from a 52-week high of $16.29 in March 18 to as low as $3.81 on April 24 before rebounding in the past two days.
On March 19, the company announced the end of forward purchase agreements.
INDEXES
The S&P 500 rose 1.3% to 5,112.51 and the Nasdaq increased 2.3% to 15,973.57 during midday trading.
–Emily Santiago-Molina
April 25
RETAIL
Chipotle Mexican Grill Inc. (NYSE: CMG) rose 5.5% to $3,087.72 and a $84.8 billion market cap. The Newport Beach-based restaurant chain raised its outlook for the full year after yesterday reporting first-quarter revenue rose 14% to $2.7 billion, exceeding the average analyst estimate.
HEALTHCARE
Santa Ana-based NKGen Biotech Inc. (Nasdaq: NKGN) increased 18% to $2.02 and a $46 million market cap. The biotech firm is presenting a publication at the 2024 American Society of Clinical Oncology Annual Meeting from May 31 to June 4.
INDEXES
The S&P 500 fell 1% to 5,021.08.
The Dow 30 decreased 1.3% to 37,945.37.
The Nasdaq was down 1.3% to 15,506.70.
The yield on a 10-year bond rose 1.2% to 4.71%
–Yuika Yoshida
