June 28, 2022
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PennyMac reports earnings jump, tops $2B in income in 2020

By   /  Thursday, February 4th, 2021  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PennyMac reports earnings jump, tops $2B in income in 2020

PennyMac Financial Services hit a record high with pretax income of more than $2 billion last year as the company saw a sharp increase in both its fourth quarter and year-end results. The Westlake Village-based mortgage firm reported a net income of $452.8 million for the fourth quarter of 2020, or $5.97 per share on Read More →

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Deckers shares jump after strong earnings report

By   /  Thursday, February 4th, 2021  /  Banking & Finance, Earnings, Latest news, middle, South Coast, Top Stories, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Deckers shares jump after strong earnings report

Deckers Brands, a fashion and footwear company based in Goleta, posted record-setting earnings for the quarter ended Dec. 31 and beat analysts’ expectations with ease behind the strength of its most recognizable brand, Ugg, and its latest rising star, Hoka One One. Deckers reported a 14.8% increase in revenue compared to the same quarter a Read More →

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Amgen reports rising revenue, warns of flat 2021

By   /  Tuesday, February 2nd, 2021  /  Banking & Finance, Earnings, East Ventura County, Health Care & Life Science, Latest news, Technology, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Amgen reports rising revenue, warns of flat 2021

Amgen, one of the world’s largest biotech companies, saw rising revenue in the fourth quarter of 2020, but the COVID-19 pandemic could dampen the outlook for the company and its investors in 2021, according to earnings released Feb. 2. The Thousand Oaks-based biotech firm had $6.6 billion in revenue in the fourth quarter, a 7% Read More →

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Inphi reports record revenue, declining losses in 2020

By   /  Tuesday, February 2nd, 2021  /  Banking & Finance, Earnings, East Ventura County, Latest news, Technology, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Inphi reports record revenue, declining losses in 2020

Inphi, a Santa Clara semiconductor company with sizable operations in Thousand Oaks, reported record revenue for the fourth quarter of 2020 and a smaller net loss than the same quarter a year earlier. Inphi, which reported its earnings on Feb. 2, is in the midst of being acquired by Marvell Technology Group, a larger competitor Read More →

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Arcutis stock soars on drug trial news; company announces $150M capital raise

By   /  Monday, February 1st, 2021  /  Banking & Finance, East Ventura County, Health Care & Life Science, Latest news, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Arcutis stock soars on drug trial news; company announces $150M capital raise

Stock of Arcutis Biotherapeutics, a Westlake Village-based company developing dermatological treatments, shot up more than 30% on Feb. 1 after the company released positive results from a recent clinical trial. Later in the day, Arcutis said it plans to sell $150 million worth of its common stock. Before stock trading opened, the company announced positive Read More →

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Community West reports income growth in 2020

By   /  Monday, February 1st, 2021  /  Banking & Finance, Banking Industry, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Community West reports income growth in 2020

Community West Bancshares saw its net income rise in 2020, even as it fell slightly in the fourth quarter of the year. The parent company of Goleta-based Community West Bank reported a net income of $8.2 million, or 97 cents per diluted share, for all of 2020, as compared to $8 million, or 93 cents Read More →

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PPP loans drove income growth at American Riviera Bank

By   /  Thursday, January 28th, 2021  /  Banking & Finance, Banking Industry, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PPP loans drove income growth at American Riviera Bank

Net income at American Riviera Bank increased in both the fourth quarter and full year of 2020, on the back of high loan growth and other positive factors, the bank announced Jan. 28. The Santa Barbara-based bank said its annual unaudited net income was up 15% from the previous year. In 2019, American Riviera Bank Read More →