Pacific Sunwear is an Anaheim-based company that makes clothes inspired from surfing. On Monday, the company saw a decline in its share prices as a response to the third quarter loss reported by the company. The loss reported was three times to what the analysts on Wall Street had thought of. The share price came down by 20% and closed at a market value of $330 million.

For the coming quarter, Pacific has set the loss at around $17.9 million to $22.4 million, whereas the analysts were hoping for a loss of around $7 million only. The reason for this outlook has been attributed to the fact that the sales of clothes for both men and women saw a “precipitous decline” in the last three weeks only. The same-store sales of the company are expected to be reduced by 20% from the previous year this time. On October 31, the company issued this outlook along with its third quarter results.

The analysts were hoping for a loss of $12.8 million but the company showed a loss of approximately $10.9 million. The sales were also a bit ahead of the analyst’s expectations of $260 million to $268.3 million. Gary Schoenfeld, who has joined Pacific as the Chief Executive at the beginning of the year only, is making his best attempts to improve the stores and is also shifting the focus to brand clothing’s of stores like Quicksilver Inc. and Volcom Inc.

TTM Technologies Inc., which is a Santa Ana-based contract manufacturer, saw a substantial rise in the share prices of the company on Monday. The hike came in response to the agreement made by the company to buy the $521 million business of Hong Kong’s Meadville Holdings Ltd. The Hong Kong-based company is into making printed circuit boards. The deal is supposed to be finalized in the first quarter and would be done in cash and stock.

In these kinds of acquisitions generally, the stock of the buyer company falls down but this is not the case with TTM Technologies. The market value rose by 8% to $525 million in after hour trading in New York. TTM had issued a statement that the sales would double once the deal gets closed. That is why the investors have sent the shares up.

In the year 2008, the sales of the company were about $600 million. Since June 2008 to June 2009, the revenue of the printed circuit board manufacturing company reached around $640 million. The Chief Executive of TTM Technologies, Kent Alder has said that the deal would prove to be beneficial for both the companies and would bring them good market value as well. Also, the client base will widen and that would bring in great market exposure to both the companies.

On Friday, Irvine-based Microsemi Corp.’s shares continued to rise after the stock was upgraded by an analyst. The stock rose 9% higher to a market value of $1.3 billion in the early afternoon trading in New York. The stock was updated from hold rating to “buy” rating by an analyst of Needham & Co. This all is due to the enthusiastic outlook offered by the company for the current quarter. The outlook offered more of a hike than the analysts on Wall Street had expected.

On sales of around $111 million to $114 million, profits are expected at about $20 million to $21 million for the current quarter. The analysts have set the profit at $20 million on sales of approximately $112 million. Microsemi’s amazing third quarter results have boosted the spirits of the company as they were way ahead of the expectations of the analysts.

The analysts had been expecting sales of $109 million, whereas the company reported profits of $19 million on sales of $110 million. Though it was 19% lower than the previous year, still it beat the analyst’s expectations. Almost all the analysts praised Microsemi for its outstanding performance and growth.

On Wednesday, the real estate and brokerage firm Grubb & Ellis Co. announced a small loss in the third-quarter. The loss was a result of the measures used by the company to cut down costs and write-downs in the real estate prices. A net loss of $21.4 million was reported by Grubb, which was lower in comparison with the previous year’s loss of $56.3 million. The analysts had not announced any specific amount for the net loss.

The administrative expenses saw a 36% downfall at $22.5 million from the previous year and the write-downs came down to $2.4 million from last year’s $35 million. A decline in revenue of around 11% was also seen, though the revenue for the real estate brokerage and consulting was up by 6% from the second-quarter. Executive vice president and chief financial officer, Richard W. Pehlke said that the investments made in the first half of the year are actually paying off now at this time of the year.

This is the worst downturn faced by the real estate firm till date. In October only, the company paid off its 2 credit lines with the help of $900 million from institutional investors.

On Wednesday, Chief Executive of Edwards Lifesciences Corp., Michael Mussallem said that the revenue of the company is expected to grow beyond 10% by the year 2010. The Irvine-based company deals in making heart valves. At the Reuters Health Summit in New York, Mussallem told all the people present in the Summit that “We are tracking above the 10% rate … and would expect that to continue. I do not think Wall Street will be disappointed.”

Wall Street is backing this fully and this outlook presented by Edwards Lifesciences Corp. had topped Wall Street’s expectations. Analysts on Wall Street are expecting that the company will report revenue of approximately $1.42 billion in the coming year. This would mark an 8% hike in comparison with the current year as the revenue for the present year has been projected at $1.31 billion.

Earlier the company had announced that the revenue for the current year would come in at around $1.30 billion to $1.35 billion for the year 2009. Mussallem said that in the year 2010, the heart valves, heart surgery devices and critical-care products would be in great demand and this would increase the sales and help in generating higher revenue.

Alliance Health Care Services, which is a Newport Beach-based company, is planning to rework on its finances. On Thursday, it has announced a proposal to issue a sum of $200 million in debt for refinancing purposes. The Newport Beach-based company basically runs medical imaging and cancer treatment centers.

Alliance is also planning to start a new credit deal along with a bunch of its lenders. The deal is expected to finalize a term loan of $450 million and a credit line of around $120 million. It will help the company in refinancing its finances. The chief financial officer of Alliance, Howard Aihara, said that Alliance also has an existing term loan of $350 million. The term loan is due to be paid in the year 2011.

The revenue from the debt and term loan would be used for paying out another outstanding debt of $300 million by Alliance. The $300 million debt is due to be paid in the year 2012.

Michael Mussallem, Chief Executive of the Irvine based heart valve making company Edwards Lifesciences Corp. has said that the firm is expecting a revenue growth of 10% in the year 2010.

Mussallem told the attendees at Reuters Health Summit in New York that, “Presently, we are tracking a growth rate above 10% and expect that it will continue to remain the same. We are hoping that Wall Street will not be disappointed with our performance”.

It is also true that the forecast is topping Wall Street’s view.

Analysts are expecting the revenue of Edwards to rise at $1.42 billion in the year 2010 that will be 8% up from a $1.31 billion revenue projection for the current year.

Earlier Edwards Lifesciences Corp. also said that it is expecting a full-year 2009 revenue between $1.30 billion to $1.35 billion.

Mussallem also said that the increasing demand for the company’s heart valves, critical-care products and heart surgery devices will increase the sales in the year 2010.

The unsecured creditors of Freedom Communications Inc., the Irvine based company are planning to fight against the bankruptcy reorganization of the company. It is also said that they might be submitting their own competing plan.

The court-appointed committee of unsecured creditors has asked the judge handling Freedom’s bankruptcy case to issue orders for the company to handover its confidential financial details. The creditors will draft an alternative plan based on the reports.

Freedom is the parent company of the Orange County Register. It filed for bankruptcy in the month of September, 2009. The company has plans to turn over about 90% of its share to New York based JP Morgan Chase & Co. & 26 other secured creditors.

Raymond Cyrus Hoiles, family founder of the company and two other private equity investors will be seeing their stakes slashed to a combined 2% & will have an option to buy back 10% of the company. The step is going to cut Freedom’s debt from about $1 billion to $325 million.

The company came into debt in the year 2004 during the buyout by two private equity firms Providence Equity Partners LLC and Blackstone Group LP. The two of them kept the family members of Freedom in control.

In most of the cases it is seen that the unsecured creditors and shareholders end up getting the shorter end of the stick during the reorganization fights in a bankruptcy court.

As mentioned in the plan, the unsecured creditors will claim an amount of $300 million out of which, $5 million will be split between the shareholders & former employees. If unsecured creditors will vote against the plan, they will not get anything.

Alan Bell, former Freedom Chief Executive and a committee member said, “It is immoral and wicked that we will not get consideration of more than $5 million. The bankruptcy code gives exclusive right to the company to propose a reorganization plan but the creditors have the right to ask the court to terminate it”.

The creditors committee has requested the court to hear the request on Monday.

On Tuesday, Irvine-based drug maker, Spectrum Pharmaceuticals Inc., has announced a deal with Nippon Kayaku Co. The deal with the Japanese company includes the production and commercialization of a cancer drug. The drug named apaziquone would be used for curing patients affected with bladder cancer that is limited up to a certain level and hasn’t affected the muscle layer of the bladder. It would be produced and used in the Asian market.

In a recent research, it has been discovered that 70% of the recently diagnosed bladder cancer patients are suffering from cancer that hasn’t yet invaded the muscle layer of their bladders.

The company said that the deal with Nippon Kayaku will fetch over $151 million to Spectrum. Nippon would be providing $15 million up front to Spectrum and around $136 million would be paid in milestone payments and royalties by Kayaku.

Spectrum had also signed a deal with Irvine-based Allergan Inc. for developing the cancer drug in the year 2008. They are also presently working together to make apaziquone. Spectrum had then announced that Allergan is expected to pay around $345.5 million to Spectrum. The deal authorizes Allergan Inc. with the full rights to share and manufacture apaziquone in countries like U.S., Canada, Europe and many more.

On Tuesday, FMR LLC, which is a Boston-based fund manager, announced that it has an ownership stake of 13% in Grubb & Ellis Co., which is a Santa Ana-based company. FMR Fidelity’s investments amount to more than $1.4 trillion in terms of assets under management. It is the first investor firm that has disclosed its stake in Grubb & Ellis Co. after the real estate brokerage and investor firm had declared a refinancing plan of around $90 million at the end of October. This share investment was completed last week only.

The refinancing plan of Grubb will actually prove to be of help in paying off the two credit lines of the company that amounts to a gross $67 million. It would also double the amount of outstanding shares of the company.

On Monday, Grubb had announced that Thomas D’Arcy would be leading it as the chief executive and president in a week’s time. But the company hadn’t shared any details about the institutional investors who were involved in the refinancing plan.

FMR shared its ownership details in the company while submitting reports to the Securities and Exchange Commission. FMR has been long involved in Orange County investments. It has been an investor with many other companies as well like Abbott Medical Optics and Foothill Ranch’s Wet Seal Inc. and on Tuesday only it reported an increased stake in the Irvine-based Epicor Software Corp.