Los Angeles Business Journal

LA FINANCE

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

U.S. Auto Parts Network Inc., Stamps.com Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies rose slightly for the week. The weighted LABJ index rose 1 percent to close at 232, with gainers outpacing losers 83 to 67. Six companies closed the week unchanged.

Stocks Rise

The Dow Jones industrial average rose 267 points in Friday trading to close at 18,191. The S&P 500 rose 28 points to 2,116. The Nasdaq rose 58 points to 5,004. The LABJ Stock Index rose three points to 232.

Stocks Rise

The Dow Jones industrial average rose 82 points in Thursday trading to close at 17,924. The S&P 500 rose eight points to 2,088. The Nasdaq rose 26 points to 4,946. The LABJ Stock Index rose one point to 229.

Stocks Fall

The Dow Jones industrial average fell 86 points in Wednesday trading to close at 17,842. The S&P 500 fell nine points to 2,080. The Nasdaq fell 20 points to 4,920. The LABJ Stock Index fell one point to 228.

Stocks Fall

The Dow Jones industrial average fell 142 points in Tuesday trading to close at 17,928. The S&P 500 fell 25 points to 2,089. The Nasdaq fell 78 points to 4,939. The LABJ Stock Index fell three points to 229.

Local Factoring Firms to Combine

Calabasas specialty finance firm Fast A/R Funding announced Monday that it has acquired Continental Business Credit in Woodland Hills, a fellow specialty finance firm and asset-based lender. Terms of the deal were not disclosed.

Stocks Rise

The Dow Jones industrial average rose 46 points in Monday trading to close at 18,070. The S&P 500 rose six points to 2,114. The Nasdaq rose 12 points to 5,017. The LABJ stock index rose one point to 232.

PE Roundup: Private Equity Deals Announced This Week

Beverly Hills firm Platinum Equity announced Monday that it has acquired Ying Shing Enterprises Ltd., a Hong Kong injection molding and metal stamping company. Terms of the deal were not disclosed.

Tetra Tech, Big 5 Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies fell slightly for the week. The weighted LABJ index fell less than 2 percent to close at 230, with losers outpacing gainers 113 to 37. Seven companies closed the week unchanged.

Stocks Rise

The Dow Jones industrial average rose 184 points in Friday trading to close at 18,024. The S&P 500 rose 23 points to 2,108. The Nasdaq rose 64 points to 5,005. The LABJ Stock Index rose two points to 230.

Stocks Fall

The Dow Jones industrial average fell 195 points in Thursday trading to close at 17,841. The S&P 500 fell 21 points to 2,086. The Nasdaq fell 82 points to 4,941. The LABJ Stock Index fell three points to 228.

Stocks Fall

The Dow Jones industrial average fell 75 points in Wednesday trading to close at 18,036. The S&P 500 fell eight points to 2,107. The Nasdaq fell 32 points to 5,024. The LABJ stock index fell one point to 231.

Stocks Mixed

The Dow Jones industrial average rose 72 points in Tuesday trading to close at 18,110. The S&P 500 rose six points to 2,115. The Nasdaq fell five points to 5,055. The LABJ Stock Index was flat at 232.

City National Sued by Labor Department

The Department of Labor announced Tuesday that it has filed a lawsuit against downtown L.A.’s City National Bank and several of the company’s officers, alleging the bank charged the company’s retirement plan excessive fees that cost employees more than $4 million, violating the federal Employee Retirement Income Security Act.

Community Bank Reports Profitable Quarter

Pasadena’s Community Bank reported strong first quarter earnings after markets closed Friday, growing its net income by 8 percent from the same period last year.