Los Angeles Business Journal


Markets Rebound

In Monday trading, the Dow Jones industrial average closed up 146 points, or 1 percent, to16,173. The Nasdaq rose 23 points, half a percent, to 4,023. The S&P 500 rose 15 points, or 1 percent, to 1,831. The LABJ Stock Index rose 2 points to 184.

Herbalife Drops on Report of Criminal Probes

A report that both the U.S. Department of Justice and the FBI are investigating Herbalife sent shares of the nutritional supplement company sliding 14 percent on Friday.

City Zones May Bury L.A. Waste Haulers

The city of L.A.’s plan to create franchised zones for commercial trash hauling promises to dramatically scramble a long-established market, creating winners and losers.

Carriers Say Price of Dodger Channel Will Drive Away Customers

After doing the math, pay-TV providers appear to be sticking to their story that carrying the all-Los Angeles Dodgers channel SportsNet LA on Time Warner Cable’s terms doesn’t pencil out.

Providence Saint Joseph Completes MRI Test

Providence Saint Joseph Medical Center announced it is the first hospital in the nation to conduct an MRI scan of a patient with a new MRI-compatible heart pacemaker.

Markets Slide

In Friday trading, the Dow Jones industrial average closed down 143 points, or 1 percent, to 16,027. The Nasdaq fell 54 points, or 1 percent, to 4,000. The S&P 500 fell 17 point, or 1 percent, to 1,816. The LABJ Stock Index fell 3 points, or 1.5 percent, to 183.

IAC Increases Stake in Tinder, Size of Deal Disputed

Barry Diller’s IAC/InterActiveCorp has upped its stake in West Hollywood hookup app Tinder Inc.

Evolve Media Hires New Chief Technology Officer

Integrated digital media company Evolve Media has brought on former CareerArc Group executive Travlin McCormack as its new chief technology officer.

Blackstone Unit to Invest in Rentech

Shares of Rentech Inc. jumped 13 percent on Thursday after the company said that a Blackstone Group unit would invest $150 million in its wood fiber business. It also announced a settlement with a dissident investor group.

Suit Seeks to Block Maker Studio Acquisition by Disney

Former officers with Maker Studio Inc., including the chief executive, are seeking a court order to stop a shareholder vote on the company’s $500 million acquisition by Walt Disney Co.

Zumbox to Shut Down

Digital postal mail startup Zumbox has informed users that it will shut down operations next week.

SEC Halts Trading of GrowLife Shares

Trading in shares of GrowLife Inc. was halted Thursday for two weeks after the Securities and Exchange Commission questioned some of the company’s stock transactions.

Stocks Drop

In Thursday trading, the Dow Jones industrial average closed down 267 points, or more than 1 percent, to 16,170. The Nasdaq fell 130 points, or 3 percent, to 4,054. The S&P 500 fell 39 points, or 2 percent, to 1,833. The LABJ Stock Index fell 5 points, or more than 1 percent, to 185.

Commission Recommends Combining Ports, Regulating DWP

A commission of civic leaders on Wednesday recommended combining the ports of Los Angeles and Long Beach, creating a regional tourism authority and setting up an independent rate-setting body for the Los Angeles Department of Water & Power.

State Chamber Lists Job-Killer Bills

The California Chamber of Commerce released its annual list of “job killer” bills on Wednesday – and the current tally of 26 is fewer than in recent years.

Loss Narrows for Joe's Jeans

Joe's Jeans Inc. on Wednesday reported a smaller fiscal first-quarter net loss and a boost in sales, both attributed to its acquisition of Hudson Clothing Holdings Inc.

Teledyne Buys Lab Equipment Firm

A subsidiary of Teledyne Technologies Inc. acquired Photon Machines Inc., a Montana company that makes lab instrumentation equipment.

Gores Group Sells Security Company

Gores Group on Wednesday said it has sold an Alabama security products company to Cornerstone Detention Products in the same state.

Stocks Rise

In Wednesday trading, the Dow Jones industrial average closed up 181 points, or 1 percent, to 16,437. The Nasdaq rose 71 points, or 2 percent, to 4,184. The S&P 500 rose 20 points, or 1 percent, to 1,872. The LABJ Stock Index rose more than 1 point to 190.

Weather Channel to Return to DirecTV

DirecTV on Tuesday said that it will once again offer the Weather Channel to subscribers after reaching a carriage deal with the cable channel’s owner.