Los Angeles Business Journal


Ares, Wells Make Deals With Guitar Center

Guitar Center has announced deals with debtor Ares Management and lender Wells Fargo Capital Finance that the Westlake Village-based music retailer said puts it in a significantly stronger financial position.

MannKind, Mandalay Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies gained slightly for the week.

Stocks Drop

In Friday trading, the Dow Jones industrial average closed down 160 points, or 1 percent, to 16,413. The Nasdaq fell 110 points, or 2.6 percent, to 4,128. The S&P 500 fell 24 points, or 1 percent, to 1,865. The LABJ Stock Index fell 3 points, or 2 percent, to 189.

Amgen Ends GlaxoSmithKline Partnership

Amgen Inc. on Thursday said it would pay GlaxoSmithKline more than $275 million to get out of a co-marketing agreement with the British drug company to promote Amgen’s osteoporosis drug Prolia in certain regions outside the United States.

Response Genetics Adds More Health Plans to Client List

Shares of Response Genetics Inc. jumped 18 percent on Thursday after the cancer diagnostic test company signed agreements with six additional health plans and two large health care groups.

Solid Concepts Is Acquired

Stratasys, an international 3-D printing company, said it plans to buy Valencia’s Solid Concepts Inc. and another private company in Texas, and will merge them with its own manufacturing subsidiary.

Stocks Fall

In Thursday trading, the Dow Jones industrial average closed down less than 1 point to 16,573. The Nasdaq fell 39 points to 4,238. The S&P 500 fell 2 points to 1,889. The LABJ Stock Index fell less than 1 point to 193.

Rubicon Project Goes Public

Shares of Rubicon Project Inc. on Wednesday rose more than a third in its New York Stock Exchange debut.

New CEO at ReachLocal

Internet advertising company ReachLocal Inc. has named Sharon Rowlands as its chief executive, the company announced Wednesday.

AwesomenessTV Buys Multi-Channel Network Big Frame

Los Angeles content maker and distributor AwesomenessTV has acquired Hollywood YouTube network Big Frame in a $15 million cash deal, marking yet another acquisition in the red-hot multichannel network market.

Platinum Equity Sells Tech Holding

Platinum Equity on Wednesday said that has sold Truesense Imaging to On Semiconductor Corp., a Phoenix maker of chips for electronic systems.

Stocks Gain

In Wednesday trading, the Dow Jones industrial average closed up 40 points to 16,573. The Nasdaq rose 8 points to 4,276. The S&P 500 rose 5 points to 1,890. The LABJ Stock Index rose less than 1 point to 193.

FDA Panel Recommends Approval of MannKind's Afrezza

MannKind Corp.'s share price more than doubled in after-hours trading Tuesday, following news that an FDA advisory panel had finally recommended approval of the Valencia company's Afrezza insulin inhaler.

L.A. Council Passes Trash Franchise Program

The Los Angeles City Council on Tuesday approved a controversial program to turn commercial trash hauling in the city into an exclusive franchise system.

PacWest Acquisition Gets Final OK

The Federal Reserve board on Tuesday approved a deal that will create the fourth biggest local bank: Century City’s PacWest Bancorp’s acquisition of downtown L.A. CapitalSource Inc.

Gamblit Gaming Raises $12 Million

Gamblit Gaming in Glendale has raised $12 million in financing that will be used to prepare for launching its online gambling software this year, the company said Tuesday.

Mobile Video Game Studio Gets $5 Million From Accel

Pasadena mobile game maker Industrial Toys announced Tuesday that it has secured $5 million in Series A funding from Accel Ventures, according to a statement.

Former Turner Animation Marketing Exec Joins DreamWorks

DreamWorks Animation SKG Inc. on Tuesday said Brenda Freeman, a former marketing executive at Turner Animation, will be become its head of television marketing.

Stocks Rise

In Tuesday trading, the Dow Jones industrial average closed up 75 points to 16,533. The Nasdaq rose 69 points, or 1 percent, to 4,268. The S&P 500 rose 13 points, or 1 percent, to 1,886. The LABJ Stock Index rose 2 points, or 1 percent, to 193.

Machinima Names New Chief Executive

YouTube multichannel network Machinima announced Monday that Chad Gutstein, former chief operating officer at Ovation television network, will become the company’s new chief executive