Los Angeles Business Journal

LA FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Special Report Banking & Finance: Driving Interest

Investors tired of spinning their wheels in pursuit of returns have turned to packaged securities of auto loans, some even made to the riskiest borrowers.Hunt for returns drives lenders and investors to portfolios of auto loans, some to subprime borrowers.

By Matt Pressberg December 15, 2014 midnight   $$ Share

Stocks Rise

The Dow Jones industrial average rose 288 points in Wednesday trading to close at 17,357. The S&P 500 rose 40 points to 2,013. The Nasdaq rose 96 points to 4,644. The LABJ Stock Index rose four points to 213.

OneWest Expected to Receive Over $2.4 Billion From FDIC

Livingston, N.J., finance firm CIT Group Inc. is expected to collect $1.4 billion from federal regulators to cover future losses should its purchase of Pasadena’s OneWest Bank be approved, according to a report from a group trying to hold up the deal.

Stocks Down

The Dow Jones industrial average fell 112 points in Tuesday trading to close at 17,069. The S&P 500 fell 17 points to 1,973. The Nasdaq fell 57 points to 4,548. The LABJ Stock Index fell one point to 209.

Stocks Fall

The Dow Jones industrial average fell 100 points in Monday trading to close at 17,181. The S&P 500 fell 13 points to 1,990. The Nasdaq fell 48 points to 4,605. The LABJ Stock Index fell three points to 210.

Kite Pharma, Medbox Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies fell for the week. The weighted LABJ index fell 3 percent to close at 213, with losers outpacing gainers 111 to 44. Five companies closed the week unchanged.

Stocks Fall

The Dow Jones industrial average fell 316 points in Friday trading to close at 17,281. The S&P 500 fell 33 points to 2,002. The Nasdaq fell 55 points to 4,654. The LABJ Stock Index fell two points to 213.

Stocks Rise

The Dow Jones industrial average rose 63 points in Thursday trading to close at 17,596. The S&P 500 rose nine points to 2,035. The Nasdaq rose 24 points to 4,708. The LABJ Stock Index was flat at 215.

Stocks Fall

The Dow Jones industrial average fell 268 points in Wednesday trading to close at 17,533. The S&P 500 fell 34 points to 2,026. The Nasdaq fell 82 points to 4,684. The LABJ Stock Index fell 3 points to 215.

Cherokee Shares Rise After Earnings Beat Expectations

Cherokee Global Brands announced third-quarter financials significantly higher than expectations, causing shares to jump nearly 11 percent.

Stocks Mixed

The Dow Jones industrial average fell 51 points in Tuesday trading to close at 17,801. The S&P 500 stayed flat at 2,060. The Nasdaq gained 26 points to 4,766. The LABJ Stock Index fell one point to 218.

Stocks Fall

The Dow Jones industrial average fell 106 points in Monday trading to close at 17,852. The S&P 500 fell 15 points to 2,060. The Nasdaq fell 40 points to 4,741. The LABJ Stock Index was flat at 219.

ImmunoCellular Therapeutics, UTi Worldwide Among Week's Big Gainers

The Los Angeles Business Journal’s index of the largest local public companies rose for the week. The weighted LABJ index climbed 1 percent to close at 219. Losers just outpaced gainers 82 to 72. Six companies closed the week unchanged.

Stocks Rise

The Dow Jones industrial average rose 59 points in Friday trading to close at 17,959. The S&P rose 3 points to 2,075. The Nasdaq rose 11 points to 4,781. The LABJ Stock Index rose one point to 219.

Chicago Lender Monroe Drops Suit Against L.A. Exec

Chicago lender Monroe Capital has dropped a lawsuit it filed this summer against Los Angeles dealmaker Warren Woo and his new investment firm, Breakaway Capital.

Stocks Fall

The Dow Jones industrial average fell 13 points in Thursday trading to close at 17,900. The S&P 500 fell two points to 2,072. The Nasdaq fell five points to 4,769. The LABJ Stock Index fell one point to 218.