Inphi completes sale of Rambus
Inphi completed the sale of its memory product business to Sunnyvale-based Rambus Aug. 4. The Santa Clara-based Inphi, which designs chips aimed at packing more memory onto Internet servers and increasing bandwidth, employs a large engineering force in Thousand Oaks. The sale will allow it to focus on its communications business. As part of the Read More →
PennyMac Financial beats analyst estimates for second quarter
Westlake Village-based PennyMac Financial Services reported a net income of $74.3 million for the second quarter of 2016 on revenue of $207.8 million, exceeding analyst projection 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 Read More →
Goleta-based Yardi Systems has 5,000 employees
Goleta-based Yardi Systems said Aug. 4 that it now has 5,000 employees. Yardi, a software developer that makes software and apps for small and large real estate managers, said in a news release it hired its 5,000th employee and now has large offices in India, Romania and Canada. The company provides tenant-management software for some Read More →
CVS Health will not cover Amgen’s Neupogen in favor of Novartis biosimilar
CVS Health will no longer cover Thousand Oaks-based Amgen’s Neupogen on its standard drug plan in 2017, favoring the biosimilar Zarxio from Novartis. CVS, which is the second largest benefits manager behind Express Scripts and also owns the largest chain of drug stores in the U.S., said Aug. 2 it will choose biosimilar drugs over Read More →
Amgen buying rights to Advaxis cancer treatment
Thousand Oaks-based biotech giant Amgen said it will buy the rights to develop and commercialize a cancer immunotherapy treatment Aug. 2. Under the agreement, Amgen will pay Princeton, N.J.-based Advaxis $40 million and buy $25 million worth of Advaxis common stock for the rights to develop and commercialize a preclinical cancer immunotherapy, which is designed Read More →
Lands commission sued over lease extensions for Diablo Canyon Power Plant
The World Business Academy, a Santa Barbara non-profit think tank that lobbies for renewable energy use, sued the California State Lands Commission on Aug. 2 in state court in Los Angeles over the approval of temporary land lease extensions at the Diablo Canyon Power Plant. On June 28, the lands commission granted Diablo Canyon owner Read More →
Heritage Oaks Bank beats second quarter projections
Paso Robles-based Heritage Oaks Bank surpassed analyst estimates on both earnings per share and revenue in its second quarter earnings. The bank reported net income of $4.2 million, or 12 cents per diluted share, for the second quarter of 2016 compared to $3.7 million, or 11 cents per share, in the second quarter of 2015. Read More →
