Shares of Irvine-based chipmaker Skyworks Solutions Inc. fell almost 10% after forecasting third-quarter results that will miss analysts’ consensus estimates. Shares dropped 9.5% in after-hours trading to $96.50 each. The company had a $17.1 billion market cap in regular trading before the results were released. The company, which makes semiconductors for companies like Apple Inc., forecast third-quarter sales of $900 million, below the $1 billion expected by analysts. The company also predicted adjusted profit will be $1.21, below the $1.47 expected by analysts. “During the March quarter, in ..read more

Xperience Restaurant Group (XRG) has promoted Chief Operating Officer Mike Johnson as its newest chief executive, effective immediately. Johnson succeeds previous executive Randy Sharpe, who exited the Cypress-based company in February to become CEO of Wahlburgers, the restaurant chain of celebrity brothers Mark, Donnie and Chef Paul Wahlberg. Johnson joined XRG in 2018 and moved up to chief operating officer in 2022; he was previously working for XRG’s former iteration, Real Mex Restaurants, before private equity firm Z Capital Partners acquired the company out of bankruptcy and reorganized i ..read more

By KEVIN COSTELLOE The U.S. economy will likely see growth slowing to below 2% over the longer term while inflation will stay within a range of 3% and 4%, according to economists at California State University, Fullerton in their annual Spring Economic Forecast. The economists, led by Anil Puri and Mira Farka, called it a “stagflation-like” environment. Stagflation, a term coined in the 1970s, denotes slower economic growth, high unemployment and climbing inflation. Still the economists said the U.S. economy is “humming along so far this year.” They said that similar to California as a whole ..read more

Thousands of sailing-apparelled people, many with VIP wristbands, waited in line for their appointments to board the 128-foot yacht Bellissima, with an eye-catching royal blue hull, five staterooms, living room and dining room, and top deck lounging areas, at the Newport Beach International Boat Show at the Lido Marina Village shopping center in Newport Beach from April 19 to 21. Its owner, Milan Panic, founder and former chief executive of Costa Mesa-based ICN Pharmaceuticals, and former Prime Minister of Yugoslavia, had purchased the Francesco Paszkowski and William Dailey-designed yacht fro ..read more

Smart TV maker Vizio Holding Corp. said today the Federal Trade Commission will review Walmart Inc.’s deal to buy the Irvine-based company. Vizio disclosed in a regulatory filing that the companies on Monday received a so-called second request from the federal agency seeking additional information. Such an in-depth review can lengthen the regulatory process by months or years, depending on the complexity of the transaction, Bloomberg News reported. Walmart said in February that it agreed to buy Vizio for about $2.3 billion. The post FTC to Review Vizio-Walmart Deal appeared first on Orange Cou ..read more

MicroVention Terumo, Orange County’s seventh largest medical device maker by local employee count, is undertaking an aggressive expansion. The Aliso Viejo-based maker of stroke treatments last month paid Pacific Life Insurance Co. $44 million for a 242,706-square-foot office tower in its home city at 45 Enterprise. The nine-story building is adjacent to MicroVention’s current headquarters at 35 Enterprise, a 205,000-square-foot four-story office. Both properties are part of Summit Office Campus, a 1.7 million-square-foot master-planned office complex of 16 buildings, next to the San Joaquin Hi ..read more

The corporate war is not over. At stake: control of one of California’s oldest companies. Undeterred by rejection of its $878 million buyout offer for Ducommun Inc. (NYSE: DCO) earlier this month, private equity firm Albion River LLC said it’s taking its case directly to shareholders of the Santa Ana-based aerospace and defense company that traces its origin to California’s gold rush. “Albion continues to believe that public markets are not an appropriate setting for Ducommun to execute its strategy and maximize shareholder value,” the suburban Washington-based acquirer of technical defense in ..read more

Liberated Brands has taken an additional 41,055 square feet of subleased office space at The Met campus on Anton Boulevard in Costa Mesa, about half a mile from South Coast Plaza. The sublease, to start in May, runs through 2027. The company’s headquarters remain on Monrovia Avenue in Costa Mesa. JLL represented Liberated in the deal, which closed in March, for all of the sixth and seventh floors of the 12-story building at 555 Anton Blvd. Synchrony Financial is subletting the space and will stay in the project. The bank was represented by Cushman & Wakefield’s Steve Wagner, executive dire ..read more

It’s been a mixed bag for sales of prominent freeway-fronting Orange County shopping centers of late. Costa Mesa’s South Coast Collection, just off the 405 Freeway, traded hands in 2023 for a respectable $110 million and $377 per square foot, while Mission Viejo’s long-troubled Kaleidoscope center that overlooks the 5 Freeway last year sold for just $35 million and $138 PSF. The current owners of Huntington Beach’s Bella Terra shopping center are hoping to get a PSF price that falls on the high end of that range for their roughly 840K-SF property at the intersection of Beach Boulevard and the ..read more

Chief Executive Kurt Busch says he’s aiming for a public listing of his chip startup Syntiant Corp. by 2027. Irvine-based Syntiant’s latest tech advance is the new NDP250 chip that works five times faster than previous models, the company said, for uses including person detection, automatic speech recognition and motion tracking, among others. “The first quarter exceeded plan and this year looks like it’s going to be another year of north of 100% growth,” Busch said. Busch said the current plan is to go public via an IPO, rather than the reverse merger path increasingly favored by some compani ..read more