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 Fall; BreitBurn Energy Surges, CytRx Tanks

The Dow Jones industrial average fell 181 points in Tuesday trading to close at 17,919. The S&P 500 fell nine points to 2,119. The Nasdaq fell 11 points to 5,208. The LABJ Stock Index fell one point to 240.

Regulators OK CIT-OneWest Deal

Just shy of a year after the deal was first announced, federal banking regulators have signed off on New Jersey lender CIT Group Inc.’s purchase of Pasadena’s OneWest Bank.

Preferred Bank Goes Bi-Coastal

Downtown L.A.’s Preferred Bank, which focuses on lending to Chinese-American businesses, announced Monday that it has signed an agreement to acquire United International Bank in Flushing, N.Y.

Stocks Rise; U.S. Auto Parts Revs Up, BreitBurn Energy Stalls

The Dow Jones industrial average rose 14 points in Monday trading to close at 18,100. The S&P 500 rose two points to 2,128. The Nasdaq rose nine points to 5,219. The LABJ Stock Index rose one point to 241.

Guess, Kite Pharma 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 rose 2 percent to close at 240, with gainers outnumbering losers 97 to 53. Six companies closed the week unchanged.

Markets Mixed

The Dow Jones industrial average fell 34 points in Friday trading to close at 18,086. The S&P 500 rose two points to 2,127. The Nasdaq rose 47 points to 5,210. The LABJ Stock Index fell one point to 240.

PE Roundup: Private Equity Deals Announced This Week

El Segundo firm Century Park Capital Partners announced Tuesday that it has acquired Better Life Technology, a Lenexa, Kan., manufacturer of specialized vinyl flooring products. Terms of the deal were not disclosed.

Stocks Rise; Mannkind Climbs, Nova Lifestyle Sinks

The Dow Jones industrial average rose 70 points in Thursday trading to close at 18,120. The S&P 500 rose 17 points to 2,124. The Nasdaq rose 64 points to 5,163. The LABJ Stock Index rose two points to 241.

Stocks Fall; Research Solutions Rises, Ducommun Sinks

The Dow Jones industrial average fell three points in Wednesday trading to close at 18,050. The S&P 500 fell two points to 2,107. The Nasdaq fell six points to 5,099. The LABJ Stock Index rose less than one point to 239.

Stocks Rise; Simulations Plus Soars, General Finance Tumbles

The Dow Jones industrial average rose 76 points in Tuesday trading to close at 18,054. The S&P 500 rose nine points to 2,109. The Nasdaq rose 33 points to 5,105. The LABJ Stock Index rose one point to 238.

Milkens Sell U.S. Education Business

This story has been updated from a previous version. L.A. billionaires Michael and Lowell Milken have struck a deal to sell their early-childhood education business, Knowledge Universe Education, to Swiss private equity firm Partners Group.

Stocks Rise; General Finance Climbs, BreitBurn Sinks

The Dow Jones industrial average rose 217 points in Monday trading to close at 17,978. The S&P 500 rose 23 points to 2,100. The Nasdaq rose 74 points to 5,072. The LABJ Stock Index rose two points to 237.

PE Roundup: Private Equity Deals Announced This Week

Brentwood firm Corbel Structured Equity Partners announced Wednesday that it has invested in Culver City nail products company Cosmetic Design Group alongside Newport Beach firm Five Crowns Capital. Irvine’s Opus Bank provided financing for the deal. Terms were not disclosed.

TrueCar, Nova Lifestyle Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies rose slightly for the week. The weighted LABJ Stock Index ticked up 1 percent to 234, with an equal number of losers and gainers: 74. Seven companies closed the week unchanged.

Stocks Rise

The Dow Jones industrial average rose 212 points in Friday trading to close at 17,760. The S&P 500 rose 25 points to 2,077. The Nasdaq rose 75 points to 4,998. The LABJ Stock Index rose two points to 234.