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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.
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.
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.
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.
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.
The Los Angeles Business Journal’s index of largest local public companies closed lower for the week.
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.
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.
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.
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.
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.
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.
Technology: Shares of Mandalay Digital surge after deal with Verizon.
Investors ring up stock of Mandalay Digital after Verizon signs up for its products.
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.
Russell Goldsmith lists the assets that L.A. leaders should bank on as they look to improve the economy.