Shares of Deckers Outdoor Corp. hopped 5.6 percent in after-hours trading on July 24 as the footwear firm reported better-than-expected sales and raised its outlook for the full year. The firm’s loss widened to $37.1 million, or $1.07 per share, compared to a loss of $29.3 million in the same period a year earlier. Read More →
A New York investor relations executive has been charged with insider trading for using knowledge gained preparing press releases for Oxnard-based Clean Diesel Technologies for personal profit.
Allergan will close its Goleta facility and eliminate about 300 positions there as part of a broader cost tightening effort as the Irvine company fends off a hostile takeover attempt. Allergan makes Botox and other cosmetic drugs and devices. The company became a major South Coast employer in 2005 when it bought breast implant maker Read More →
Michael Phlaum, chief operating officer at Goleta-based Community West Bank, died Friday evening from complications related to a stroke, the bank said on July 21. Phlaum joined the bank in February 2012 and was promoted to COO and executive vice president in February of this year. “This is a tragic loss for me personally and Read More →
Santa Paula-based Santa Clara Valley Bank is being acquired by Sierra Bancorp for $15.3 million in an all-cash deal announced July 17. The Ventura County bank operates branches in Fillmore, Santa Paula and Valencia. With assets of about $127 million, the bank is the second-smallest bank headquartered in the Tri-Counties.
PennyMac, the Moorpark-based firm founded by former top brass at Countrywide Financial Corp., has inked a $550 million loan repurchasing deal with Bank of America. The deal forms a half-billion-dollar pact among three companies that have been intimately connected since shortly after Countrywide, the firm at the heart of the subprime loan meltdown, was Read More →