LA FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
Downtown Los Angeles money manager Oaktree Capital Group reported fourth-quarter earnings that fell short of the previous year’s numbers, citing lower investment and incentive income in a challenging environment for distressed investing, the firm’s bread and butter.
The Dow Jones industrial average fell 95 points in Monday trading to close at 17,729. The S&P 500 fell nine points to 2,047. The Nasdaq fell 18 points to 4,726. The LABJ Stock Index fell one point to 219.
The Federal Reserve and Office of the Comptroller of the Currency announced Friday that they would hold a public hearing on the proposed acquisition of Pasadena’s OneWest Bank by lending company CIT Group in Livingston, N.J., responding to pressure from community groups opposing the union.
Marlin Equity Partners of Hermosa Beach announced Monday that it has acquired Pendum, an Elmhurst, Ill., ATM service provider. Pendum will be combined with another Marlin portfolio company, payments processing technology firm Burroughs Inc. of Plymouth, Mich. Terms of the deal were not disclosed.
The Los Angeles Business Journal’s index of the area’s largest public companies rose for the week.
The Dow Jones industrial average fell 61 points in Friday trading to close at 17,824. The S&P 500 fell seven points to 2,055. The Nasdaq fell 21 points to 4,744. The LABJ Stock Index fell two points to 220.
The Dow Jones industrial average rose 212 points in Thursday trading to close at 17,885. The S&P 500 rose 21 points to 2,063. The Nasdaq rose 48 points to 4,765. The LABJ Stock Index rose three points to 222.
The Dow Jones industrial average rose seven points in Wednesday trading to close at 17,673. The S&P 500 fell nine points to 2,042. The Nasdaq fell 11 points to 4,717. The LABJ Stock Index rose four points to 220.
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The Dow Jones industrial average rose 305 points in Tuesday trading to close at 17,666. The S&P 500 rose 29 points to 2,050. The Nasdaq rose 51 points to 4,728. The LABJ Stock Index rose three points to 215.
West L.A. brokerage and investment bank B. Riley Financial Inc. announced Monday that it has acquired MK Capital Advisors, a New York financial advisory firm that caters to ultra-high net worth clients. It’s B. Riley’s first foray into the wealth-management business. Terms of the deal were not disclosed.
The San Gabriel Valley Economic Partnership announced Monday the launch of a new regional economic development website aimed at companies considering relocating or expanding in the San Gabriel Valley.
The Dow Jones industrial average rose 196 points in Monday trading to close at 17,361. The S&P 500 rose 26 points to 2,021. The Nasdaq rose 41 points to 4,677. The LABJ Stock Index rose one point to 212.
The Los Angeles Business Journal’s index of the largest local public companies fell for the week. The weighted LABJ Index fell 3 percent to close at 211, with losers outpacing gainers 110 to 39. Nine companies closed the week unchanged.
The Dow Jones industrial average fell 252 points in Friday trading to close at 17,165. The S&P 500 fell 26 points to 1,995. The Nasdaq fell 48 points to 4,635. The LABJ Stock Index fell four points to 211.