Los Angeles Business Journal


Briefs: TrueCar Revs, Motorcar Parts Sued, Commonwealth Splits, City National Expands

TrueCar Shares Rise Shares of Santa Monica car-buying site TrueCar Inc. climbed more than 6 percent in Thursday trading in advance of the company’s latest earnings announcement. After markets closed, TrueCar reported fourth-quarter earnings that were in line with analysts’ expectations: Revenue of $55.5 million and a net loss of $9.8 million (13 cents a share). Shares rose 6.4 percent Thursday before the announcement, closing at $20.77, but fell 2 percent to $20.36 in after-hours trading.

Air China to Add Third Daily L.A.-Beijing Flight

Beijing airline Air China Ltd. will increase its nonstop service between Beijing and Los Angeles by adding a third daily nonstop flight each way, airline representatives announced Thursday.

Markets Mixed

The Dow Jones industrial average fell 44 points in Thursday trading to close at 17,986. The S&P 500 fell two points to 2,097. The Nasdaq rose 18 points to 4,925. The LABJ Stock Index was flat at 224.

Labor Fight Cuts Into Long Beach Cargo Numbers

The amount of cargo that moved through the Port of Long Beach in January took a nearly 19 percent nosedive compared to the same month last year because of ongoing congestion and labor strife, officials said late Wednesday.

Culver City’s DataPop Sold to French Firm

Culver City ad tech firm DataPop has been acquired by Criteo, a marketing analytics firm in Paris, according to the French company’s fourth quarter earnings report released Wednesday. The terms were not disclosed.

Stocks Mixed

The Dow Jones industrial average fell 18 points in Wednesday trading to close at 18,030. The S&P 500 fell one point to 2,100. The Nasdaq rose seven points to 4,906. The LABJ Stock Index was flat at 224.

Poll: What do you think Paula Schneider’s biggest challenge is in stepping into the top management role at American Apparel?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition. Our latest poll is available on the bottom right column of our home page.

L.A. Firm to Buy Fresno’s Security First Bank

Downtown Los Angeles investment company SunPac Financial announced Wednesday that it has agreed to acquire Security First Bank in Fresno, its first step in establishing a new bank serving Los Angeles.

Downtown Developer Buys Site of Popular USC Watering Hole

The site of popular USC hangout 901 Bar & Grill has been sold, and the deal might portend changes coming to the corner of South Figueroa and 30th streets.

Air Advisory Issued After Torrance Refinery Blast, Gas Prices Rise

A Wednesday morning explosion at the Exxon Mobil Corp. refinery in Torrance injured four workers and pushed up the local price of wholesale gasoline. The workers suffered only minor injuries, according to an Exxon spokesperson.

Jukin Media Launches Newsfeed for Publishers

Culver City’s Jukin Media, which acquires and licenses user-generated viral videos, has launched a product that makes it easier for digital publishers to find and upload its content to their websites.

Stocks Down

The Dow Jones industrial average was down 39 points in Wednesday morning trading to 18,008. The S&P 500 fell five points to 2,095. The Nasdaq fell three points to 4,896. The LABJ Stock Index was flat at 224.

L.A. Economy to Grow, See Record Employment Level this Year

The good times should continue to roll for the local economy.

Demand Media’s President Resigns

Santa Monica Web publisher Demand Media said in a Securities and Exchange Commission filing Tuesday that co-founder and President Shawn Colo had resigned.

Freeplay Music Accuses YouTube Networks of Copyright Infringement

New York music rights holder Freeplay Music has sued two local multichannel networks, claiming the companies illegally used its copyrighted songs in YouTube videos.

Zealot Networks Buys Two Creative Marketing Companies

Venice digital media firm Zealot Networks has continued its recent string of acquisitions by purchasing two local creative marketing companies for an undisclosed sum.

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Mattel, Needing a Hit, Introduces Siri-Like Barbie

Mattel has been in desperate need of a hit toy. After reporting that Barbie sales had plunged, again, in the final quarter of last year, the El Segundo toymaker’s interim Chief Executive Christopher Sinclair told investors the company would make changes “with a heightened sense of urgency.”

Air China Likely to Expand LAX Service

Beijing-based airline Air China Ltd. on Thursday will announced changes to its nonstop service between Beijing and Los Angeles – likely the addition of more flights – at a press conference that will be attended by Los Angeles Mayor Eric Garcetti.

Stocks Rise

The Dow Jones industrial average rose 28 points in Tuesday trading to close at 18,048. The S&P 500 rose three points to 2,100. The Nasdaq rose five points to 4,899. The LABJ Stock Index rose one point to 224.

CIM Turns Big Profit in Off-Market Deal

The former Beverly Grove home of the pension and health fund for the Directors Guild of America has been sold for $24 million by CIM Group Inc.