April 16
MEDTECH
Biomerica Inc. rose 4.7% to $2.20 apiece and a $6.8 million market cap. The Irvine-based medical diagnostics firm today announced that its test which identifies irritable bowel syndrome (IBS) is eligible for Medicare coverage on an individual, claim-by-claim basis (Nasdaq: BMRA).
AUTOMOTIVE
Rivian Automotive Inc. increased 3.5% to $16.99 with a market cap of $21 billion after the Irvine-based electric vehicle maker announced yesterday that it’s partnering with energy technology company Redwood Materials to power its manufacturing facility in Normal, Illinois (Nasdaq: RIVN).
INDEXES
Crude oil jumped 2.7% to $90.51 per barrel.
–Yuika Yoshida
April 15
HEALTHCARE
Irvine-based Beta Bionics, a maker of insulin delivery systems, rose 10% to $13.01 per share for a market cap of $579 million. The shares have increased after the company reported a 2-year revenue jump of 736% on April 6 (Nasdaq: BBNX).
CONSTRUCTION
Shimmick Corp., a builder of large water infrastructure projects, rose 7.2% to $5.07 per share for a market cap of $183 million (Nasdaq: SHIM). Earlier today investor website Simply Wall St cited the Irvine-based company’s “new targets and project wins.” (Nasdaq: SHIM)
TECHNOLOGY
Viant Technology in Irvine rose 8.2% to $11 per share for a market cap of $698 million after announcing an agreement to acquire TVision (Nasdaq: DSP).
—Kevin Costelloe
April 14
MEDTECH
Laguna Hills-based Adagio Medical is up 19% to $1.58 apiece with a $35 million market cap (Nasdaq: ADGM). The company’s management is participating this week at the 25th Annual Needham Virtual Conference one week after the FDA approved an Investigational Device Exemption to expand the firm’s FULCRUM-VT trial evaluating its next-generation ventricular ablation system for treating sustained monomorphic ventricular tachycardia.
Irvine-based Beta Bionics Inc. is up 10% to $11.69 apiece with a market cap of $523 million. Shares of the developer of diabetes management solutions rose in the double digits for a second consecutive trading day ahead of its April 21 earnings report. (Nasdaq: BBNX)
Staar Surgical Co. declined 5.4% to $25.40 with a market cap of $1.3 billion. (Nasdaq: STAA). Shares of the Lake Forest-based lens maker pulled back after a sharp run-up last week, when it reported preliminary net sales of more than $90 million, up from $42.6 million a year earlier.
For more on the biomed industry in OC, read the Business Journal’s April 20 issue.
TECHNOLOGY
Shares of Veritone Inc. rose 12% to $2.26 with a market cap of $208 million. Last week, Insider Monkey called the AI and software company based in Irvine one of the fastest-growing agentic AI stocks to buy. (Nasdaq: VERI)
INDEXES/MARKETS
- Nasdaq is up 1.7% to 23,587.55
- S&P 500 is up 1.05% to 6,958,45
- Gold is up 1.4% to $4,833.50 an ounce
- Crude oil dropped 6.8% to $92.39
–Nancy Luna
April 13
AEROSPACE
Karman Holdings Inc. was up 6.7% to $88.06 per share and a $12 billion market cap (NYSE: KRMN). Simply Wall St listed the Huntington Beach space and defense company on Monday as a leading growth company with high insider ownership, stating that identifying such firms “can be key as it often signals confidence in their long-term potential and alignment of interests between management and shareholders.”
TECHNOLOGY
Veritone Inc. rose 7.5% to $2.02 with a $184 million market cap (Nasdaq: VERI). Shares have increased 10% since the AI firm announced on April 2 that its software would include Thorn Detect, a child sexual abuse material (CSAM) detection tool.
MEDTECH
Irvine’s Beta Bionics Inc. jumped 19% to $10.53 apiece with a market cap of $467 million (Nasdaq: BBNX). There was no publicly available news, and volume was below the daily average of 1.1 million shares. The stock is still off by about two thirds year to date.
MARKETS/INDEXES
Crude oil was up 2.7% to $99.18 a barrel as the U.S. blockade of the Strait of Hormuz began on Monday.
EMPLOYMENT
South Coast Behavioral Health told state officials it plans to permanently close two offices in Huntington Beach and Costa Mesa as of May 29, affecting 37 employees.
–Emily Santiago-Molina
April 10
TECHNOLOGY
TTM Technologies Inc. rose 13% to $121 with a market cap of $12.4 billion (NASDAQ: TTMI). The shares of the Santa Ana-based manufacturer of printed circuit boards are reaching all-time highs due to demand for its products in new technology markets.
CONSTRUCTION
Shimmick Corporation is up 10% to $4.08 with a market cap of $147.6 million (NASDAQ: SHIM). Shares of the Irvine-based heavy civil construction firm are up about 42% since March 17th when it announced it secured $256 million in new infrastructure projects in California and Texas.
INDEXES/MARKETS
Crude oil is up 0.8% to $98.69 as oil traffic through the Strait of Hormuz, a key corridor for global oil supply, remains low despite the U.S. and Iran’s two-week ceasefire.
–Joseph Pimentel
April 9
MEDTECH
Shares of Staar Surgical Co. rose 26% to $26.28 with a market cap of $1.3 billion after reporting preliminary net sales for the first quarter. (Nasdaq: STAA). The Lake Forest-based lens maker posted net sales of more than $90 million, up from US $42.6 million for the same period a year earlier. Sales, driven by growth in the China market, beat analysts’ expected $67.6 million.
RETAIL
Tilly’s Inc. is up 8% to $5 apiece with a $155 million market cap. (Nasdaq: TLYS). Shares of the Irvine-based retailer are up more than 200% since reporting earnings March 11, when the company reported seven consecutive months of comparable net sales growth.
TECHNOLOGY
Shares of Mobix Labs Inc. fell 11% to $2.70 with a market cap of $29 million. The Irvine-based 5G semiconductor company on April 6 implemented a 1-for-10 reverse stock split, which increased its share price by reducing the number of outstanding shares.
INDEXES/MARKETS
Crude oil rose 3.6% to $97.81 as the Strait of Hormuz, a key corridor for about 20% of global oil supply, remains restricted despite a two-week ceasefire announced between the U.S. and Iran.
–Nancy Luna
April 8
RESTAURANTS
Kura Sushi USA Inc. dropped 14% to $62.61 apiece with a $736 million market cap. The Irvine-based sushi chain yesterday reported second quarter earnings that beat analysts’ expectations and updated guidance to sales between $333 million and $335 million, up from the previous range of $330 million and $334 million. TD Cowen analyst Andrew Charles issued a Hold rating for Kura, saying updated outlook only slightly surpasses consensus, according to TipRanks. The company yesterday also announced Chief Financial Officer Jeff Uttz will leave to accept a new job within the restaurant industry (Nasdaq: KRUS).
HEALTHCARE
Shares in Glaukos Corp. rose 5% to $120.73 apiece for a market cap of $7 billion. The Aliso Viejo-based medical device company is scheduled to release first quarter results after the market closes on April 29. Citi yesterday raised the price target on Glaukos to $135 from $125 and kept a Buy rating on the shares, the Fly website reported (NYSE: GKOS).
TECHNOLOGY
Irvine-based WM Technology Inc., the software company behind cannabis platform Weedmaps, plummeted 48% to 36 cents apiece with a $63 million market cap. Yesterday, the company announced its voluntary delisting from the Nasdaq, citing constraints on the company’s ability to provide services to the cannabis market (Nasdaq: MAPS).
MARKETS/INDEXES
Major stock markets rose today after the U.S. and Iran agreed to a two-week ceasefire, causing crude oil to drop 16% to $94.62 per barrel.
- The S&P 500 is up 2.4% to 6,772.79
- The Dow Jones rose 2.6% to 47,791.89
- The Nasdaq increased 2.8% to 22,6389.60
- The yield on a 10-year Treasury bond decreased 1.6% to 4.277%
- Gold is up 2.1% to $4,785.10 per ounce
–Yuika Yoshida
April 7
–Kevin Costelloe
April 6
AEROSPACE
Tustin’s Virgin Galactic Holdings Inc. soared 21% to $2.98 apiece and a $242 million market cap (NYSE: SPCE). Shares are up 37% since March 30 when the space tourism firm said it would resume selling seats on upcoming flights for $750,000 apiece, after a two-year break in service.
RETAIL
Shares of Boot Barn Holdings Inc were up 8.1% to $146.18 with a $4.4 billion market cap (NYSE: BOOT). Analyst firm Jefferies upgraded its rating of the Western wear retailer on Monday from “Hold” to “Buy” and maintained its price target of $195.
The research note said that “the stock’s valuation has ‘meaningfully reset,’ while the company’s execution and underlying demand trends remain intact,” The Fly reported.
–Emily Santiago-Molina
April 3
The U.S. stock markets (NYSE and Nasdaq) are closed today in observance of Good Friday. The market will resume normal hours on Monday, April 6.
— Joseph Pimentel
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
