Lowe’s, HomeGoods coming to Santa Maria
Central Coast, Latest newsA new retail project will bring Lowe’s and HomeGoods to Santa Maria and re-establish the city as a regional retail hub. That was the message City Manager Rick Hayden brought to the UCSB North County Economic Summit on May 6. He said that Betteravia Plaza will host a relocated Costco and other shops. The Read More →
PennyMac Financial misses Wall Street estimates
Earnings, Latest news, Tri-County Public CompaniesMoorpark-based PennyMac Financial Services reported a $26.5 million profit on revenue of $143.4 million for the first quarter of 2016, missing Wall Street expectations on earnings per share and revenue. PennyMac Financial, which was founded by former Countrywide Financial Services executives after that company was acquired by Bank of America, reported earnings of 23 cents Read More →
Breast implant maker Sientra loses $11.9 million in first quarter
Earnings, Latest news, Technology, Tri-County Public CompaniesSientra, the Goleta-based breast implant company which resumed sales in March after suspending them last fall, posted a loss of $11.9 million for the first quarter. With its core products back on the market after a months long hiatus, the company said it hopes that resumption of marketing efforts will help it resume its prior Read More →
Montecito Bank & Trust loans grew but net income down for first quarter
Banking & Finance, Banking Industry, Latest newsMontecito Bank & Trust reported total assets of $1.3 billion in an April 27 statement. Loans grew to $722 million for the first quarter of 2016, up 1.5 percent from the previous quarter and 12 percent year-over-year. Net income for the bank was $3.6 million, a decline from first quarter earnings of $3.8 million in Read More →
Teledyne Technologies reports lower first quarter sales
Earnings, Latest news, Technology, Tri-County Public CompaniesTeledyne Technologies, based in Thousand Oaks, announced a drop in first quarter sales compared to the same period last year. In a May 5 statement, the company said first quarter sales fell from $565 million in 2015 to $530.5 million in 2016. Net income fell from $43.7 million, or $1.20 per diluted share, to $38.4 Read More →
U.S. unlikely to experience negative interest rates
Banking Industry, Latest newsStory updated at 10:30 a.m.: The U.S. is unlikely to experience negative interest rates, Federal Reserve Bank of St. Louis President and CEO James Bullard said at the UC Santa Barbara Economic Summit at the Granada Theater on May 5. He said U.S. labor market strength justifies the Fed’s vision of gradually rising rates and Read More →
Salem Media beats revenue estimates but misses on earnings per share
Earnings, Latest news, Tri-County Public CompaniesSalem Media Group beat analyst revenue estimates but missed earnings per share estimates when it reported first quarter earnings May 4. Salem Media Group, a Camarillo-based Christian and conservative radio operator, reported revenues of $64.6 million, up from $61.9 million in 2015, which topped analyst estimates of $63.43 million, according to S&P Capital IQ. Net Read More →
