Portfolio watch
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Ag stocks remain optimistic despite economic headwinds
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Vital signs: Ventura County workers make higher per-hour income
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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 →
Portfolio watch
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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 →
Montecito Bank remains “well-capitalized” after the first quarter
Montecito Bank & Trust reported a 30% increase in net income for the first quarter of 2023 on June 6, even despite a drop in total deposits. Montecito Bank & Trust generated $4.8 million in the first quarter while assets closed at $2.1 billion. According to the bank, it remains well-capitalized as its total risk-based Read More →
