Los Angeles Business Journal

LA FINANCE

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

Stocks Rise

The Dow Jones industrial average gained 79 points in Wednesday’s trading to close at 16,986. The S&P 500 rose 9 points to 1,973. The Nasdaq increased by 28 points to 4,419. The LABJ Stock Index edged up a point to 200.

United Oil Sold to Fortress Investment Group

United Oil, the Gardena-based gas station and convenience store operator, has been sold to the asset management firm Fortress Investment Group for an undisclosed price.

Westwood Law Firm Acquired

Washington law firm Venable has acquired Westwood firm Weingarten Brown, the firms announced Tuesday.

Stocks Fall

The Dow Jones industrial average fell 44 points in Monday’s trading to close at 17,024. The S&P 500 dipped 8 points to close at 1,978. The Nasdaq dropped 34 points to close at 4,452. The LABJ Stock Index lost 2 points to close at 198.

Ares Management to Buy Majority of London Builder

Ares Management-controlled funds are poised to obtain a majority stake in English homebuilder London Square in a deal worth more than $171 million.

Reed’s, Sport Chalet Among Week’s Big Movers

The Los Angeles Business Journal’s weighted index of the area’s largest public companies rose for the week.

Stocks Rise

The Dow Jones closed above 17,000 for the first time Thursday, gaining 92 points to 17,068. The S&P 500 rose by 11 points to close at 1,985. The Nasdaq climbed 28 points to close at 4,486. The LABJ Stock Index gained 1 point to close at 200.

Dow Jones, S&P 500 Up, Nasdaq, LABJ Down

The Dow Jones industrial average rose 20 points in Wednesday’s trading to close at 16,976. The S&P 500 gained 1 point to close at 1,975. The Nasdaq fell by less than a point to 4,458. The LABJ Stock Index edged down by a fraction of a point to 199.

Sport Chalet Sells for $70 Million

Sport Chalet Inc. will be acquired by Vestis Retail Group for about $17 million plus accumulated debt, the company announced Tuesday.

American Homes to Buy Beazer Rentals

American Homes 4 Rent on Tuesday announced it will acquire Beazer Pre-Owned Rental Homes Inc. for a little more than $260 million in debt and stock.

Stocks Rise

The Dow Jones industrial average rose 129 points in Tuesday’s trading to close at 16,956. The S&P 500 gained 13 points to close at 1,973. The Nasdaq climbed 50 points to close at 4,459. The LABJ Stock Index rose 1 point to 199.

Dow Jones, S&P 500 Down; Nasdaq, LABJ Up

The Dow Jones industrial average fell 25 points in Monday’s trading to close at 16,827. The S&P 500 dropped less than a point to 1,960. The Nasdaq rose 10 points to 4,408. The LABJ Stock Index rose shy of a point, to 198.

Dispute Sinks Ocean Eco-Charity

For a moment in 2011, charity organization Seathos Foundation was Venice’s celebrity cause de jour. Its mission to spread awareness of the human impact on oceans drew such supporters as actors Julia Roberts and Jeff Bridges and surfer Kelly Slater. But while the goodwill poured in, its co-founders were allegedly discussing ways that Seathos could promote their own business activities – ambitious plans that ultimately resulted in a nasty partnership breakup.

Stocks Up

The Dow Jones industrial average rose 6 points in Friday’s trading to 16,852. The S&P 500 rose 4 points to 1,961. The Nasdaq rose 19 points to 4,398. The LABJ Stock Index rose slightly to 197.

Dow, S&P, Nasdaq Fall; LABJ Rises

The Dow Jones industrial average fell 21 points to 16,846. The S&P 500 fell 2 points to 1,957. The Nasdaq fell slightly to 4,379. The LABJ Stock Index went up slightly to 197.