Los Angeles Business Journal


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

Sport Chalet Tender Offer Prolonged

Sport Chalet Inc. shareholders received a deadline extension until midnight Aug. 15 to approve the sale of the sporting goods retailer at the highest price being offered by a Connecticut sporting goods company.

Merger Creates Beverly Hills Law Firm

A new law firm called Tepper & Takvoryan was formed by a merger between a Beverly Hills firm and another in Glendale.

Stocks Rise

The Dow Jones industrial average rose 76 points in Monday’s trading to close at 16,569. The S&P 500 rose 14 points to close at 1,939. The Nasdaq rose 31 points to close at 4,384. The LABJ Stock Index rose 3 points to close at 199.

Reliance Steel & Aluminum Co. Buys Illinois Firm

Reliance Steel & Aluminum Co. of Los Angeles announced Friday that it had acquired Northern Illinois Steel Supply Co. for an undisclosed price.

Rubicon, Green Dot Among Week’s Big Movers

The LABJ Stock Index fell nearly 4 percent in the trading week that ended Friday to close at 196. Losers outpaced gainers by 120 to 36 with eight companies unchanged.

Stocks Down

The Dow Jones industrial average lost 70 points to close on Friday at 16,493. The S&P 500 lost 6 points to close at 1,925. The Nasdaq lost 17 points to close at 4,353. The LABJ Stock Index lost a point to close at 196.

CBRE Group Buys Australian Firm

CBRE Group Inc. of Los Angeles bought Paragon Project Management for an undisclosed price, the company announced Thursday.

Bank of America's Countrywide Unit to Pay $1.3 Billion

The Countrywide Financial mortgage lender unit owned by Bank of America has been ordered to pay $1.3 billion in damages for selling thousands of defective loans.

EARNINGS: DirecTV, Edison, Oaktree, Occidental, PS Business Parks, Ryland, Superior

DirecTV, Edison International, Oaktree Capital Group, Occidental Petroleum, PS Business Parks Inc., Ryland Group Inc. and Superior Industries International Inc. were among firms reporting earnings.

Stocks Fall

The Dow Jones industrial average lost 318 points in Thursday’s trading to close at 16,563. The S&P 500 lost 39 points to close at 1,931. The Nasdaq lost 93 points to close at 4,370. The LABJ Stock Index lost 3 points to close at 197.

Molina Net Income Falls Short

Molina Healthcare Inc. reported meager earnings after markets closed Wednesday, falling well short of Wall Street expectations on profits.

EARNINGS: Dine Equity, Stamps.com, TetraTech

Dine Equity Inc., Stamps.com and TetraTech Inc. were among firms reporting earnings.

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

The Dow Jones industrial average fell 32 points in Wednesday’s trading to close at 16,880. The S&P 500 was flat at 1,970. The Nasdaq gained 20 points to close at 4,463. The LABJ Stock Index gained 2 points to close at 200.

'Dragon' a Drag for DreamWorks

Weak box office results for “How to Train Your Dragon 2” put a drag on DreamWorks Animation SKG Inc. second quarter earnings, which failed to match analysts’ expectations.

Aecom Buys Hunt Construction Group

Los Angeles engineering and construction firm Aecom has purchased Hunt Construction Group for an undisclosed sum in a deal announced on Tuesday.