PennyMac beats profit expectations but misses on revenue
Moorpark-based PennyMac Financial Services reported a $68.9 million profit on revenue of $187.2 million for the fourth quarter, beating Wall Street expectations on profit but missing on revenue. PennyMac Financial, which was founded by former Countrywide Financial Services executives after that company was acquired by Bank of America, reported a profit 58 cents per share Read More →
Read More →Oxnard-based CalAmp buys LoJack for $134 million
Oxnard-based CalAmp completed its hostile takeover of Canton, Mass.-based LoJack on Feb. 1 by buying LoJack for $134 million. CalAmp makes wireless devices for the vehicle and transportation industries while LoJack makes theft recovery systems for cars, trucks and construction equipment. CalAmp had discussions with LoJack for 14 months prior to December 2015 and made Read More →
Read More →Heritage Oaks Bancorp misses fourth-quarter estimates
Paso Robles-based Heritage Oaks Bancorp earnings missed analyst estimates for the fourth quarter but earnings were significantly up on the year. Heritage Oaks reported net income of $3.5 million, or 10 cents per share, for the fourth quarter. That missed analyst expectations of 11 cents per share and was down from $4.2 million net earnings, Read More →
Read More →Decron Properties buys 391 Thousand Oaks apartment units for $126.5 million
Los Angeles-based developer Decron Properties acquired a 391-unit multifamily apartment portfolio in Thousand Oaks for $126.5 million. The deal with Prometheus Real Estate Group included the 249-unit Los Robles Apartments and the 142-unit Marlowe Apartments located about a mile apart near Moorpark Road. The complexes feature swimming pools, clubhouses, fitness centers and large amounts of Read More →
Read More →Vandenberg AFB launches ground-based interceptor missile
Vandenberg Air Force Base’s 30th Space Wing conducted a successful test Jan. 28 of an unarmed ground based interceptor missile. It launched at 1:57 p.m. from the northern part of the base to destroy a mock enemy warhead launched from the Marshall Islands over the Pacific Ocean just west of Hawaii, the U.S. Missile Defense Read More →
Read More →