Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Stocks mixed

The Dow Jones industrial average rose 9 points on Thursday to close at 17,720. The S&P 500 stayed flat at 2,064. The Nasdaq fell 23 points to 4,737. The LABJ stock index stayed the same at 230 points.

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Univision Launches New Unit Making Multicultural Projects, Signs HBO Deal

Univision Communications Inc. has launched a new Los Angeles unit to create multi-cultural projects. Story House will develop and produce content in both English and Spanish for various Univision channels and other networks.

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Hyperloop Technologies Raises $80 Million, Runs First Test in Las Vegas

Hyperloop Technologies Inc. has closed an $80 million Series B funding round and secured development partnerships with several large engineering firms.

Stocks Fall

The Dow Jones industrial average fell 217 points on Wednesday to close at 17,711. The S&P 500 fell 20 points to 2,064. The Nasdaq fell 49 points to 4,761. The LABJ stock index fell 5 points to 230.

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Walt Disney CEO Robert Iger Won't Extend Contract After 2018

Walt Disney Co.’s Chief Executive and Chairman Robert Iger does not “currently plan” to extend his contract after June 2018, he told investors today.

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Global Eagle Buys Satellite Communications Firm for $550M

Global Eagle Entertainment Inc., an in-flight Wi-Fi and entertainment provider, announced Monday it had reached an agreement to acquire satellite communications firm Emerging Markets Communications for $550 million in cash and stock.

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Public Storage Defeats Shareholder Class Action Seeking $41 Million

Public Storage and its founder B. Wayne Hughes have finally beaten back a securities class action after nearly five years of litigation.

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Online Consignment Shop Tradesy Raises $30 Million

Online consignment shop Tradesy of Santa Monica announced on Monday it received a $30 million Series C round.

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Apple Nabs Retail Space in Downtown Los Angeles

Apple Inc. is in the in the process of securing a lease for retail space at the historic Tower Theater downtown, according to sources familiar with the transaction. When complete, the lease for an Apple store at the building, at 800 S. Broadway, could spark dramatic changes along a corridor that has long been in flux.

Stocks Up

The Dow Jones industrial average rose 222 points on Tuesday to close at 17,928. The S&P 500 rose 26 points to 2,084. The Nasdaq rose 60 points to 4,810. The LABJ stock index rose one point to 235.

SBE Buying Morgans Hotel Group

Hotel and nightclub mogul Sam Nazarian is buying a boutique hotel group in a deal that will give billionaire investor Ron Burkle a significant stake in the new company.

Latin Everywhere Sells Stake to Revolution Studios

Revolution Studios of Santa Monica has acquired a stake in Latino digital-content network Latin Everywhere. Terms of the deal were not disclosed, but Latin Everywhere said the deal was worth seven figures.

L.A. Tech Calendar: May 9 - 23

Roundup of L.A. tech events in the next two weeks.

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Soon-Shiong’s NantHealth Files IPO

Billionaire Patrick Soon-Shiong’s health care IT firm NantHealth has announced that it filed for a $92 million initial public offering late Friday.

Redstone Competency Case Dismissed; New Suit Filed Against Daughter

A Los Angeles judge has dismissed the lawsuit challenging the mental competency of Viacom and CBS Corp. controlling shareholder Sumner Redstone filed by his former live-in girlfriend.

Stocks Mostly Rise

The Dow Jones industrial average fell 35 points in Monday trading to 17,705. The S&P 500 rose 2 points to 2,059. The Nasdaq rose 14 points to 4,750. The LABJ stock index rose one point to 234.

PE Roundup: Private Equity Deals and Funds Announced This Week

Private equity firms Platinum Equity of Beverly Hills and Clearlake Capital Group of Santa Monica announced Monday that funds managed by affiliates of Apollo Global Management will acquire Clearlake portfolio company AmQuip Crane Rental and Platinum portfolio company Maxim Crane Works.

Silicon Beach Deal Flow: May 6

A weekly roundup of must-read L.A. tech investments and acquisitions.

Silicon Beach Launch List: May 6

A weekly roundup of L.A. tech company and product launches.

Redstone ‘Severely Impaired,’ Says Physician

Media tycoon Sumner Redstone is suffering from dementia, according to an expert witness physician who testified today in Los Angeles Superior Court.