Los Angeles Business Journal

LA FINANCE

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

Lots of Sales

AUTOMOTIVE: Dealerships’ margins have taken back seat as incentives, low interest rates have revved up business.Dealerships have been riding a steady rise in sales, but incentives and low interest rates have driven down margins.

By Matt Pressberg June 29, 2015 midnight   $$ Share

Stocks Rise; Portsmouth Climbs, Qualstar Dives

The Dow Jones industrial average climbed 23 points Tuesday to close at 17,620.

Silver Lake Buys Entertainment Payroll Firm

Silver Lake Partners is increasing its focus on the silver screen.

Stocks Fall; Ducommun Rises, Second Sight Slips

The Dow Jones industrial average fell 350 points in Monday trading to close at 17,596. The S&P 500 fell 44 points to 2,058. The Nasdaq fell 122 points to 4,958. The LABJ Stock Index fell five points to 230.

Green Dot, MRV Communications Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was flat for the week. The weighted LABJ index held steady at 235, with losers outpacing gainers 87 to 58. Thirteen companies closed the week unchanged.

Stocks Mixed

The Dow Jones industrial average rose 57 points in Friday trading to close at 17,947. The S&P 500 fell one point to 2,102. The Nasdaq fell 32 points to 5,081. The LABJ Stock Index was flat at 235.

Stocks Fall; Qualstar Rises, Spark Networks Fizzles

The Dow Jones industrial average fell 76 points in Thursday trading to close at 17,890. The S&P 500 fell six points to 2,102. The Nasdaq fell 10 points to 5,112. The LABJ Stock Index was flat at 235.

Stocks Fall; ReachLocal Climbs, Global Eagle Sinks

The Dow Jones industrial average fell 178 points in Wednesday trading to close at 17,966. The S&P 500 fell 16 points to 2,109. The Nasdaq fell 38 points to 5,122. The LABJ Stock Index fell two points to 235.

Coalition Pulls Opposition to City National-RBC Deal

Another advocacy group has signed off on the sale of Downtown L.A.’s City National Bank to Toronto’s Royal Bank of Canada, potentially easing the deal’s approval by regulators.

Magic Johnson Enterprises Buys Life Insurance Firm

Magic Johnson Enterprises, the Beverly Hills investment firm founded by the Laker legend, announced Monday that it has completed the acquisition of a controlling stake in EquiTrust Life Insurance Co. in West Des Moines, Iowa.

Stocks Rise; Green Dot Soars, 1st Century Bancshares Falls

The Dow Jones industrial average rose 24 points in Tuesday trading to close at 18,144. The S&P 500 rose one point to 2,124. The Nasdaq rose six points to 5,160. The LABJ Stock Index rose one point to 237.

Green Dot Re-Ups Vital Wal-Mart Deal

Pasadena prepaid debit card firm Green Dot Corp. announced Monday that it has signed a new five-year deal with its most important customer, Wal-Mart Stores Inc.

Stocks Rise; Qualstar Climbs, Broadway Slips

The Dow Jones industrial average rose 104 points in Monday trading to close at 18,120. The S&P 500 rose 13 points to 2,123. The Nasdaq rose 37 points to 5,154. The LABJ Stock Index rose one point to 236.

Kythera, Cadiz Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies rose for the week. The weighted LABJ index climbed 2 percent to close at 235, with gainers outpacing losers 94 to 59. Five companies closed the week unchanged.

Stocks Fall

The Dow Jones industrial average fell 102 points in Friday trading to close at 18,014. The S&P 500 fell 11 points to 2,110. The Nasdaq fell 16 points to 5,117. The LABJ Stock Index fell one point to 235.

PE Roundup: Private Equity Deals Announced This Week

Century City firm Ares Management announced Wednesday that its subsidiary, Ares EIF Management, along with Genesis Power in Needham, Mass., have sold the soon-to-be-built Keys Energy Center in Maryland to PSEG Power in Newark, N.J.