Los Angeles Business Journal

LA FINANCE

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

Green Dot, RealD Among Week’s Biggest Movers

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

Earnings Roundup: CBRE, Macerich, PennyMac

CBRE Group Inc. and Macerich Co. reported adjusted fourth quarter results that beat Wall Street forecasts, but PennyMac Financial Services came in below expectations. PennyMac Mortgage Investment Trust also reported quarterly results.

Thomas Properties Veterans Form New Firm

Three former senior executives at recently acquired Thomas Properties Group Inc. have formed Coretrust Capital Partners, an investment management firm with dual headquarters in Los Angeles and Philadelphia.

Great American Secures $35 Million Credit Facility

GA Capital, a division of Great American Group Inc., said Tuesday it closed a $35 million financing facility for its client Reichhold, a chemical manufacturer.

Stocks Up

In Tuesday trading, the Dow Jones industrial average was up 72 points, or 0.5 percent, to 15,445. The Nasdaq rose 35 points, or 0.9 percent, to 4,032. The S&P 500 ticked up 13 points, or 0.8 percent, to 1,755. The LABJ Stock Index rose 1 point to 175.

Stocks Drop

In Monday trading, the Dow Jones industrial average dropped 326 points, or 2.1 percent, to 15,373. The Nasdaq fell 107 points, or 2.6 percent, to 3,997. The S&P 500 lost 41 points, or 2.3 percent, to 1,742. The LABJ Stock Index was down 4 points to 174.

Green Dot, Mattel Among Week’s Biggest Movers

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

Stocks Drop

In Friday trading, the Dow Jones industrial average fell 150 points, or 0.9 percent, to 15,699. The Nasdaq lost 19 points, or 0.5 percent, to 4,104. The S&P 500 dropped 12 points, or 0.7 percent, to 1,783. The LABJ Stock Index was down 2 points to 178.

Stocks Up

In Thursday trading, the Dow Jones industrial average rose 110 points, or 0.7 percent, to 15,849. The Nasdaq ticked up 72 points, or 1.8 percent, to 4,132. The S&P 500 climbed 20 points, or 1.1 percent, to 1,794. The LABJ Stock Index rose 3 points to 180.

Markets Fall

In Wednesday trading, the Dow Jones industrial average fell 188 points, or 1.2 percent, to 15,739. The Nasdaq dropped 47 points, or 1.1 percent, to 4,051. The S&P 500 was down 18 points, or 1 percent, to 1,774. The LABJ Stock Index lost 1 point to 177.

Wilshire Bank Profit Narrows

The parent company of Koreatown lender Wilshire Bank announced after the close of the markets Monday that its profit narrowed in the last quarter of last year as it closed on two acquisitions.

Markets Make Gains

In Tuesday trading, the Dow Jones industrial average rose 91 points, or 0.6 percent, to 15,929. The Nasdaq was up 14 points, or 0.4 percent, to 4,098. The S&P 500 ticked up 11 points, or 0.6 percent, to 1,793. The LABJ Stock Index was up 1 point to 179.

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New Interest

Investor says it’s finally time to bet on L.A. banking

California Business Bank’s owner looks to be L.A.’s first new player in banking in almost five years.

Wall Street Gets With Software Maker’s Program

Technology: Shares of Mandalay Digital surge after deal with Verizon.

Investors ring up stock of Mandalay Digital after Verizon signs up for its products.

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Doughnut Company Sees Holes to Fill in SoCal

Food: Krispy Kreme’s area franchisee plans to open 20 shops in next seven years.

Krispy Kreme plans to go hole hog in Southern California with 20 new stores.