Los Angeles Business Journal

LA FINANCE

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

Briefs

Restraining Order Closes Collective, Shareholders Approve Pacific Commerce Bank Purchase, Blackline Hires CFO, Lion to List on Nasdaq

Stocks Rise

The Dow Jones industrial average rose 92 points in Tuesday trading to close at 18,209. The S&P 500 rose six points to 2,115. The Nasdaq rose seven points to 4,968. The LABJ Stock Index fell one point to 225.

San Dimas Man Arrested in $9 Million Scheme to Defraud East West Bank

The Department of Justice announced Tuesday that it has arrested Chung Yu “Louis” Yeung of San Dimas for his alleged role in a scheme that Pasadena’s East West Bank said cost it more than $9 million. Yeung’s alleged co-conspirator, Guo Xiang “David” Fan, remains at large.

Stocks Mixed

The Dow Jones industrial average fell 24 points in Monday trading to close at 18,117. The S&P 500 fell one point to 2,110. The Nasdaq rose five points to 4,961. The LABJ Stock Index rose one point to 226.

Stocks Down

The Dow Jones industrial average was down 42 points in Monday morning trading to 18,100. The S&P 500 was down three points to 2,107. The Nasdaq was down nine points to 4,947. The LABJ Stock index was flat at 225.

PE Roundup: Private Equity Deals Announced This Week

West L.A. private debt firm Crescent Capital announced Monday that it has provided a credit facility for the recapitalization of Interfloor Group Ltd., a Lancashire, England, flooring accessories company. Loan terms were not disclosed.

Nova Lifestyle, United Online Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies rose slightly for the week. The weighted LABJ index edged up less than 1 percent to close at 225, with gainers outpacing losers 85 to 64. Nine companies closed the week unchanged.

Stocks Rise

The Dow Jones industrial average rose 155 points in Friday trading to close at 18,140. The S&P 500 rose 13 points to 2,110. The Nasdaq rose 31 points to 4,956. The LABJ Stock Index rose one point to 225.

Briefs: TrueCar Revs, Motorcar Parts Sued, Commonwealth Splits, City National Expands

TrueCar Shares Rise Shares of Santa Monica car-buying site TrueCar Inc. climbed more than 6 percent in Thursday trading in advance of the company’s latest earnings announcement. After markets closed, TrueCar reported fourth-quarter earnings that were in line with analysts’ expectations: Revenue of $55.5 million and a net loss of $9.8 million (13 cents a share). Shares rose 6.4 percent Thursday before the announcement, closing at $20.77, but fell 2 percent to $20.36 in after-hours trading.

Markets Mixed

The Dow Jones industrial average fell 44 points in Thursday trading to close at 17,986. The S&P 500 fell two points to 2,097. The Nasdaq rose 18 points to 4,925. The LABJ Stock Index was flat at 224.

Stocks Mixed

The Dow Jones industrial average fell 18 points in Wednesday trading to close at 18,030. The S&P 500 fell one point to 2,100. The Nasdaq rose seven points to 4,906. The LABJ Stock Index was flat at 224.

L.A. Firm to Buy Fresno’s Security First Bank

Downtown Los Angeles investment company SunPac Financial announced Wednesday that it has agreed to acquire Security First Bank in Fresno, its first step in establishing a new bank serving Los Angeles.

Stocks Down

The Dow Jones industrial average was down 39 points in Wednesday morning trading to 18,008. The S&P 500 fell five points to 2,095. The Nasdaq fell three points to 4,896. The LABJ Stock Index was flat at 224.

Stocks Rise

The Dow Jones industrial average rose 28 points in Tuesday trading to close at 18,048. The S&P 500 rose three points to 2,100. The Nasdaq rose five points to 4,899. The LABJ Stock Index rose one point to 224.

Herbalife’s Fifth-Largest Shareholder Sells

New York hedge fund manager Richard Perry, who recently became the fifth-largest shareholder of multi-level marketer Herbalife Ltd., liquidated his 5.6 million share stake in the company during the fourth-quarter, according to a Feb. 13 Securities and Exchange Commission filing.