Onyx Gains Are Soar Point as Shares Zip Upward by 37%

Shares in Onyx Acceptance Corp., the Foothill Ranch automobile finance company, surged 37% Thursday after the company said its first-quarter net income nearly tripled. Onyx said profits rose to $2.2 million, or 34 cents a share, from $742,360, or 12 cents a share, for the like period last year. Revenue increased 66% to $19.6 million from $11.8 million. The company’s stock closed Thursday at $8.63 a share, up $2.31.