LA BUSINESS JOURNAL DAILY NEWS
Santa Monica’s Bitium announced Friday it had raised $6.5 million in a series A round. The company, which develops products to help companies manage passwords for employees to access various apps, has raised nearly $9 million to date.
The Los Angeles City Council on Friday voted overwhelmingly to ban fracking at oil and gas wells in the city until it could be shown the activity would not harm the environment or public health. The vote makes Los Angeles the largest city in the nation to impose a moratorium on the controversial drilling practice.
Toymaker Mattel Inc. has agreed to purchase Montreal-based Mega Brands Inc., seller of children’s building blocks, for about $460 million including the assumption of debt.
Eden Memorial Park in Mission Hills has settled a class-action lawsuit for $35 million that accused it of digging up and dumping remains in order to reuse burial sites – though when all costs are included the total could reach $80 million, according to media reports on Friday.
Rexford Industrial Realty Inc. has acquired a six-building industrial complex in the South Bay area of Los Angeles for $6.6 million.
The Los Angeles Business Journal’s index of largest local public companies rose for the week.
In Friday trading, the Dow Jones industrial average closed up 49 points to 16,322. The Nasdaq fell 11 points to 4,308. The S&P 500 rose 5 points to 1,859. The LABJ Stock Index rose 1 point to 191.
Providence Health & Services, Southern California on Thursday said it has received approvals from church and state officials to take over Santa Monica's Saint John’s Health Center and the John Wayne Cancer Institute from SCL Health System.
Shares of Air Lease Corp. climbed in after-hours trading Thursday after the aircraft leasing company reported better-than-expected fourth quarter earnings and revenue.
Platinum Equity on Thursday said it completed the sale of fleet equipment rental company Nesco to an affiliate of Energy Capital Partners.
The Sylmar Square Shopping Center has sold for $16.8 million – the largest retail sale in the northeast San Fernando Valley in more than a year.
In Thursday trading, the Dow Jones industrial average rose 74 points to 16,273. The Nasdaq climbed 27 points to 4,319. The S&P 500 gained 9 points to 1,854. The LABJ Stock Index rose 1 point to 190.
Downtown L.A. developer Evoq Properties Inc. announced today that it was exploring “strategic alternatives,” including a possible sale of the company.
Shares of Jakks Pacific Inc. jumped 23 percent on Wednesday after the toymaker reported a smaller-than-expected fourth quarter loss and said it expects a return to profitability this year.
South Bay residential real estate brokerage Shorewood Realtors Inc. has been acquired by Denver real estate holding company Herman Group for an undisclosed price.
Shares of UTi Worldwide Inc. sank nearly 30 percent Wednesday after the logistics company said it had breached debt covenants and expected to report a fourth quarter loss.
DineEquity Inc. reported fourth quarter earnings on Wednesday in line with analysts’ estimates, but announced the departure of an executive at its Applebee’s chain, which saw same-store sales fall.
Mercedes-Benz USA plans to use a leased 1.1 million-square-foot former Boeing facility in Long Beach for a training center, vehicle preparation facility and its western U.S. regional office.
In Wednesday trading, the Dow Jones industrial average closed up 19 points to 16,198. The Nasdaq rose 4 points to 4,292. The S&P 500 rose less than 1 point to 1,845. The LABJ Stock Index fell less than 1 point to 188.
Web content publisher Demand Media on Tuesdays reported fourth quarter earnings that were in line with analysts’ expectations.