Orange County-based companies recently experienced a period of mixed market activity, with some firms announcing significant business developments that influenced their stock performance.
Irvine-based Five Point Holdings LLC saw its shares fall nearly 8% to $4.14, bringing its market capitalization to $613 million. The housing developer slashed its 2026 net income forecast by 80%, from $100 million to $20 million. Five Point cited weakening housing demand and indicated plans to defer certain land sales rather than sell into a less favorable market condition.
Santa Ana-based TTM Technologies Inc., a printed circuit board maker, experienced notable fluctuations. Shares initially rose 4% to $77.07, rebounding after a sharp selloff from the previous day. The company reported record third-quarter revenue of $1.2 billion, marking a 60% increase. However, shares had plunged 27% to $74.05 the previous day, despite the record earnings, as investors considered slower-than-expected data center sales, fourth-quarter guidance, and rising debt from recent acquisitions. Management attributed the data center shortfall to customer project timing rather than weakening demand. Later, TTM Technologies shares rose 4.5% to $98.09 during midday trading following its announcement of acquiring the Ophir Optics business for approximately $650 million. Despite these gains, the company's shares also fell 3.6% to $97.79 amid investor concerns about rising debt and capital spending. This followed recent announcements of a $400 million expansion of manufacturing capacity in China and Malaysia, aimed at AI infrastructure and defense electronics projects. Earlier in the week, reports indicated an 11% drop on Monday, associated with a $400 million investment to expand capacity across four facilities in China and its strategic plant in Penang, Malaysia.
In the healthcare sector, Lake Forest-based Staar Surgical Co., a maker of implantable eye lenses, saw its shares rise 4% to $22.52, giving the company a market capitalization of $1.1 billion. The company is set to report its third-quarter results on November 4, with analysts expecting $78.74 million in revenue.
Irvine-based MDxHealth SA, a medical diagnostics firm, saw its shares drop 16% to 17 cents per share on Monday, reducing its market cap to $17 million. Shares have been declining since last Thursday, when the company reported preliminary unaudited revenue would be flat for the third quarter and suspended its 2026 annual guidance.
Orange-based Alignment Healthcare, a provider of Medicare Advantage for seniors, also experienced contrasting movements. Shares increased 9.7% to $8.27 after the company announced a new plan, Central Health Harmony (HMO), launching January 1, 2027, in Los Angeles and Orange counties. However, the company also fell nearly 16% to $7.33 a share after the Centers for Medicare & Medicaid Services downgraded its largest California health plan from four stars to 3.5 stars. The company stated its belief that the rating does not accurately reflect the contract’s "longstanding performance on evidence-based measures of quality, clinical outcomes and member experience."
Also in Irvine, enVVeno Medical Corp., a medical device maker, rose 4.8% to $8.86. The company recently showcased its experimental replacement venous valve at a medical conference, following FDA approval earlier this year for a pivotal U.S. clinical trial, with patient enrollment expected in the fourth quarter.
Restaurant chains based in Orange County also saw movement. Newport Beach fast-casual chain Chipotle Mexican Grill Inc. dropped 4.5% to $28.35 after analysts downgraded the stock to Hold from Buy, citing weak sales at the start of the fourth quarter. Costa Mesa-based El Pollo Loco shares fell 4% to $15, trading at 81% below its average daily volume.
In the defense and technology sectors, Huntington Beach-based Karman Holdings Inc. initially rose 3% to $34.90 after receiving an outperform rating and a $65 price target from Macquarie, which cited its exposure to growing defense and space markets. However, Karman Space & Defense, also in Huntington Beach, later fell 4.7% to $30.40, nearing a 52-week low. An investor website reported analysts were warning the "entire space trade is sitting in neutral" awaiting developments. Irvine-based Marwynn Holdings Inc. increased 12% to $2.22 per share after signing a preliminary agreement to explore artificial intelligence computing services and infrastructure for trading securities backed by real-world assets. Aliso Viejo-based automotive chipmaker Indie Semiconductor Inc. fell 9.8% to $2 per share despite its revenue rising 24% year over year to $64 million and matching analysts’ expected loss of 5 cents per share. Analysts noted the company remains unprofitable with a negative net margin.
Other notable movements include Newport Beach-based Evolus Inc. which rose 5.8% to $7.64 after announcing an option agreement to potentially add an injectable hair restoration treatment to its aesthetics portfolio. Clean Energy Fuels Corp., also in Newport Beach, increased 4.8% to $1.41 per share following the appointment of Sean Wine to the newly created position of chief revenue officer, with third-quarter results set for release on November 5. Irvine mortgage lender loanDepot Inc. shares dropped 11% to 49 cents. While the company recently announced plans to expand its use of AI, its stock is down 74% over the past six months.