Midday Stock Roundup: Evolus Down 5.7%

April 2

HEALTHCARE

Evolus Inc. was down 5.7% to $4.06 apiece with a $265 million market cap (Nasdaq: EOLS). Analyst firm HC Wainwright this week reduced its full year earnings per share estimate for the Newport Beach-based aesthetics company, according to MarketBeat.

AUTOMOTIVE

Rivian Automotive Inc. rose 1.6% to $15.19 with a market cap of $18.8 billion (Nasdaq: RIVN). The Irvine-based electric vehicle maker today announced that it delivered 10,365 vehicles for the first quarter, surpassing Visible Alpha’s 9,678 estimate. Rivian also reaffirmed its 2026 delivery range guidance of 62,000 to 67,000 vehicles.

INDEXES

Gold fell 2.6% to $4,685.80 per ounce while crude oil shot up 11.4% to $111.52 per barrel after President Donald Trump said that the war in Iran will last another two to three weeks in a national address yesterday.

–Yuika Yoshida

April 1 

TECHNOLOGY
Western Digital is up 12% to $301.73 apiece with a market cap of $103 billion (Nasdaq: WDC). Shares of the San Jose-based memory products maker, which has a large presence in Irvine, shot up after Bernstein upgraded its stock to Outperform this week, hiking its price target to $340 from $170, according to Investing.com.

RETAIL
Brea-based Reborn Coffee is up 9% to $2.15 apiece with a market cap of $16 million. The specialty coffee retailer recently opened a flagship location in Shenzhen, China, on the campus of Tencent Holdings, the world’s largest video game publisher and the parent company of WeChat. Year to date, the stock is up 44%. (Nasdaq: REBN)

Read more in the April 6 issue of the Business Journal

RESTAURANTS
Shares of Cerritos-based GEN Restaurant Group Inc. are down 15% to $1.56 with a market cap of $52 million. On Tuesday, the company said same-store sales, a key restaurant chain metric, dropped 11.6% in the fourth quarter due, in part, to reduced traffic from its core Hispanic customer as “they have been put under extreme pressure through the immigration enforcement,” CEO David Kim told investors (Nasdaq: GENK).

MARKETS/INDEXES
The markets rallied and oil dropped on Wednesday after President Trump signaled that the war with Iran might end soon.

• The S&P 500 is up 1.17% to 6,605.03
• Nasdaq is up 1.67% to 21,950.40
• Gold is up 2.7% to $4,804.70
• Crude oil is down 1.16% to $100.20 a barrel

–Nancy Luna

MARCH 31

AEROSPACE

Space tourism company Virgin Galactic in Tustin rose 15% to $2.49 per share for a market cap of $182 million after saying that it is on track to resume commercial flights toward the end of this year, while ticket price has gone up to $750,000 apiece. (NYSE: SPCE)

ENVIRONMENT

Irvine-based Clean Energy Technologies fell 11% to 96 cents apiece for a market cap of $12 million after signing a non-binding letter of intent with a Canadian power company to evaluate and advance the deployment of the company’s proprietary High Temperature Ablative Pyrolysis technology for waste-to-energy applications. (Nasdaq: CETY)

INDEXES

Major stock markets rose after President Trump apparently signaled flexibility on the future of the strategically vital Strait of Hormuz waterway along the Iranian coast.

The S&P 500 rose 2.1% to 6,477.27

Dow 50 up 1.6% at 45,948.84

Nasdaq increased 2.9% to 21,398.61

MARKETS

The price for a barrel of oil fell 2.7% to $100.13 amid apparent signs of easing tensions in the Middle East

Price of gold was up 2.2% at $4,657.00

EMPLOYMENT

Experian told state officials that it plans to permanently lay off 35 people in Costa Mesa on May 22.

Primo Brands told state officials it plans to lay off 23 people in Santa Ana as of July 1.

Waymakers told state officials it plans to lay off a total of 70 people in Irvine and Fountain Valley as of June 30.

NSI-Lynn Electronics told state officials it will permanently close its facility in Anaheim as of May 22, affecting 52 people.

–Kevin Costelloe

March 30

TECHNOLOGY 

Irvine’s Veritone Inc. fell 6.8% to $1.72 apiece and a $156 million market cap (Nasdaq: VERI). Shares of the AI firm are down 34% since announcing its preliminary, unaudited financial results for the fourth quarter on March 26.  

MANUFACTURING 

Shares of American Vanguard Corp., a Newport Beach provider of products to protect crops, jumped 17% to $2.42 with a $73 million market cap (NYSE: AVD). Volume is more than double the daily average of 289,691.  

MARKETS/INDEXES 

Crude oil was up 3.1% to $102.74 a barrel. 

The yield on a 10-year Treasury bond decreased 2.39% to 4.334%. 

–Emily Santiago-Molina

March 27

ENERGY

Shares of Clean Energy Fuels Corp. rose 6.5% to $2.51 with a market cap of $549 million (CLNE). The Newport Beach-based company, known for providing natural gas as an alternative fueling solution for vehicles, has seen its shares rise 18% since March 20.

DEFENSE

Mobix Labs Inc.’s shares dropped 8% to 35 cents and a $36 million market cap (Nasdaq: MOBX). Trading volume was 5.7 million shares, significantly below its usual average of 67.3 million.

MARKETS/INDEXES

The S&P 500 fell 1% to 6,412.97, and the Nasdaq also dropped 1.4% to 21,099.59 during midday trading, both six-month lows as Middle East tensions drag on the markets, according to Reuters.

Crude oil jumped 4% to $98.23 a barrel as Iran blocked two Chinese ships.

— Joseph Pimentel

March 26

TECHNOLOGY 

Irvine’s Lantronix Inc. was down 5.4% to $5.75 apiece and a $228 million market cap (Nasdaq: LTRX). Shares of the computer networking products maker are still off 7.8% since announcing its partnership with Unusual Machines Inc. “to develop next-generation autonomous drone components integrating edge AI compute” on March 19 (NYSE American: UMAC). The stock initially dropped 13% the day after the news.  

This past weekend at the 38th Annual Roth Conference in Dana Point, CEO Saleel Awsare spoke of Lantronix’s drone business ramp and its expectation to increase drone revenue to $8 million to $12 million in the current fiscal year, according to MarketBeat.  

RETAIL 

Shares of Lanvin Group Holdings, parent company of Anaheim’s St. John Knits, fell 9.1% to $1.37 with a $191 million market cap (NYSE: LANV). The stock has fallen 28% since the luxury retail operator reported preliminary 2025 revenue decreased 18% year-over-year on March 17.  

Lanvin Group hit an all-time low of $1.03 per share on Feb. 9.  

MARKETS/INDEXES 

The S&P 500 was down 1.1% to 6,521.37 and Nasdaq decreased 1.7% to 21,558.44 during midday trading.  

Gold fell 3.8% to $4,379.20 per ounce. 

Crude oil jumped 5% to $94.87 a barrel. 

The yield on a 10-year Treasury bond increased 1.89% to 4.41%.   

–Emily Santiago-Molina

March 25

March 24

TECHNOLOGY

Printed circuit board maker TTM Technologies in Santa rose 4% to $105.58 apiece for a market cap of $11 billion. Investor website MarketBeat.com said earlier today  the company has an average rating of “Buy” and a consensus price target of $117.25. (Nasdaq: TTMI)

SEMICONDUCTORS

Aliso Viejo-based Indie Semiconductor was up 7% to $2.78 apiece for a market cap of $575 million, a day after releasing its first Ultraviolet Visible Distributed Feedback  399 nm single-frequency laser diode optimized for quantum computing systems based on cooled Ytterbium atoms. (Nasdaq: INDI)

HEALTHCARE

Laguna Hills-based Adagio Medical Holdings Inc. rose 15% to $1.30 apiece for a market cap of $28 million after announcing publication of results of its technology showing “significant functional improvements in ablation catheter performance” (Nasdaq: ADGM)

–Kevin Costelloe

March 23

HEALTHCARE 

Eledon Pharmaceuticals Inc. jumped 10% to $3.17 apiece with a $252 million market cap (Nasdaq: ELDN). Shares of the Irvine-based biotechnology company are up 11% since reporting its fourth quarter and full year operating results for 2025. Among the company updates included updated data from its islet cell transplant study, which showed that a majority of patients achieved 100% insulin independence.

For more on Eledon, read this week’s issue of the Business Journal.

RESTAURANTS

Kura Sushi USA Inc. rose 8.5% to $60.65 apiece with a $734 million market cap (Nasdaq: KRUS). The restaurant company today participated in a fireside chat at the 38^th Annual Roth Conference in Dana Point. Kura is scheduled to report its second quarter earnings on April 7.

INDEXES

The S&P 500 rose 1.2% to 6,582.91, Dow Jones was up 1.4% to 46,232.34 and Nasdaq increased 1.2% to 21,909.33. Gold also fell 4.2% to $4,382.80 an ounce while crude oil decreased 9% to $89.32 per barrel. Markets and indexes moved today after President Trump announced a pause in the bombing campaign because of negotiations with the Iranian government. 

–Yuika Yoshida

MARCH 20

DEFENSE

Mobix Labs Inc.’s shares fell 15% to 48 cents with a market cap of $49 million (Nasdaq: MOBX). Volume at the Irvine-based semiconductor maker of 19 million was about a third of the daily average.

TECHNOLOGY

Shares of Lantronix Inc. dropped 11% to $5.56, with a market cap of $221 million (Nasdaq: LTRX). The stock is still more than doubled its 52-week low of $1.91 a year ago.

AUTOMOTIVE

Shares of Irvine-based Rivian Automotive Inc. declined  7% to $15.02, with a market cap of $18.6 billion (Nasdaq: RIVN). The stock had risen by 3.8% yesterday on news that the electric vehicle maker partnered with Uber to launch up to 50,000 autonomous R2 robotaxis, expected to be available by 2028.

MARKETS

Crude oil prices rose 2.5% to $97.90 amid the ongoing war in the Middle East.

— Joseph Pimentel

March 19

ELECTRIC VEHICLES

Rivian Automotive (Nasdaq: RIVN) rose 3.5% to $16.08 apiece for a market cap of $20 billion. Shares in the Irvine-based electric vehicle maker are up after Uber announced today that it’s investing up to $1.25 billion in Rivian through 2031 to deploy up to 50,000 fully autonomous R2 robotaxis. An initial deployment of 10,000 robotaxis are expected to begin in San Francsico and Miami in 2028 and expand to 25 cities by 2031.

TECHNOLOGY

Lantronix Inc., an Irvine-based IoT and AI company, was up 5.7% to $6.28 and a $249 million market cap (Nasdaq: LTRX). The company today announced a partnership with Orlando, Fla.-based drone component manufacturer Unusual Machines Inc. to deliver AI-autonomous drone components for U.S. defense programs.

INDEXES

Gold fell 5.7% to $4,617.90 an ounce while crude oil increased 3% to $98.43 per barrel.

EMPLOYMENT

Global data and tech company Experian permanently laid off 28 employees in Costa Mesa on March 11, according to the California Employment Development Department.

–Yuika Yoshida