Banc of California acquires PacWest in an all-stock deal
Santa Ana-based Banc of California is acquiring Beverly Hills-based PacWest Bancorp in an all-stock deal, the companies jointly announced on July 25. The deal, expected to close in the fourth quarter of 2023 or the first quarter of 2024, will create a combined $36 billion in total loans and assets. The bank will be based Read More →
Teledyne shares fall despite solid earnings beat
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Community Bank of Santa Maria notes key increases in second quarter
The Community Bank of Santa Maria announced its earnings for the second quarter on July 10, finding that it had recorded increases in net income and net loans. In the second quarter, the bank saw net income increase 50.7% year-over-year to $1.3 million. Similarly, net loans increased 8.9% from the second quarter of last year Read More →
Amgen’s $28B merger bid gets tougher
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Ag stocks remain optimistic despite economic headwinds
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Sonos sheds 7% of its workforce
In an effort to restructure its fiscal plan amid economic uncertainty, Santa Barbara-based Sonos announced it would be laying off 7% of its workforce, or roughly 130 employees, in a filing with the U.S. Securities and Exchanges unit on June 14. In an October 2022 filing, Sonos employed 1,844 people globally, the last time the Read More →
Semtech shares rise in after-hours trading following earnings beat
Camarillo-based Semtech saw its shares rise nearly 15% in after-hours trading on June 7, hours following the company’s first-quarter earnings announcement in which it beat analyst expectations in both revenue and net income. Semtech, which specializes in the Internet of Things applications, generated revenue worth $236.5 million, an increase of 41.2% sequentially, which means from Read More →
