Sale of Carson Refinery Approved
Tesoro Corp. on Friday said it received approval from state and federal regulators to buy BP Plc’s oil refinery in Carson and other assets.
Puma, Mannkind Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies continued to gain this week, in line with the larger markets.
Ticketmaster Settles Lawsuit Over Rewards Program
Ticketmaster will settle claims for up to $23 million, after customers claimed they were charged $9 a month for a rewards program when they bought concert tickets but did not get any benefit, according to a news report.
Kite Pharma Gains New Backer
Kite Pharma Inc., a cancer drug developer, has raised $20 million in a private placement of preferred stock that included its existing backers and a new investor.
Ernst & Young Names Entrepreneur of the Year Finalists
Ernst & Young LLP has announced the Los Angeles area finalists for its Entrepreneur of the Year award.
Tryperion Partners Raises $50 Million Fund
Tryperion Partners LLC, a West L.A. real estate investment and advisory firm announced Monday that it had closed its first $50 million fund.
Alexandria Real Estate Plans Stock Sale
Alexandria Real Estate Equities Inc. late Monday said that it plans to pay down debt by selling 6 million new common shares in a public offering.
KPMG Scandal Delays Skechers’ Filing
Skechers USA Inc. on Friday told the Securities and Exchange Commission that it would be late in filing its quarterly report with the regulator because it had to switch auditors due to the KPMG insider trading scandal.
Sport Chalet, Ducommun Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies rose strongly for the week in line with the larger markets.
PennyMac Financial Raises $200 Million in IPO
Residential mortgage company PennyMac Financial Services Inc. raised $200 million in an initial public offering that began trading on Thursday.
Broadway Financial Sells More Non-Performing Loans
Broadway Financial Corp., which has been working to clear its books of long-standing bad debt, has completed the sale of another $8.7 million worth of non-performing loans.
Mercury Casualty Loses Battle Over Rates
Mercury Casualty Co. has lost a court battle to immediately block state Insurance Commissioner Dave Jones’s order to lower its rates by 8 percent for 270,000 homeowner policyholders.
Farmer Bros. Narrows Quarterly Loss
Farmer Bros. Co. reported a smaller net loss in its fiscal third quarter as the Torrance coffee roaster benefitted from a drop in coffee bean prices.
Entravision Reportedly Seeking $405 Million for Debt Refinancing
Spanish-language TV and radio station owner Entravision Communications Corp. reportedly plans to refinance its debt by seeking $405 million in loans.
Arrowhead Research Gets Private Equity Infusion
Arrowhead Research Corp. on Monday said that it raised $36 million in a private offering.
Colony American Homes Files for IPO
L.A. billionaire Thomas Barrack Jr.’s Colony Capital LLC is spinning off another business to the public markets, with Colony American Homes, a buyer of rental homes, filing with securities regulators for an initial public offering.
Staar Surgical, Big 5 Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies gained strongly for the week.
Staar Surgical Jumps on Revenue Improvement
Shares of Staar Surgical Co. jumped nearly 29 percent on Thursday after the ophthalmology products company reported a better-than-expected first quarter
Strong Quarter for Big 5
Favorable weather and a strong uptick in sales of guns and ammunition propelled Big 5 Sporting Goods Corp. to a better-than-expected first quarter, with shares jumping more than 9 percent on Wednesday.
United Online’s Goldston Plans to Leave after FTD Spinoff
Shares of United Online Inc. fell 8 percent in late trading Tuesday after its longtime chief executive said he would leave the Internet services company after its FTD floral delivery business is spun off later this year.
International Rectifier Stock Rises on Forecast
Shares of International Rectifier Corp. rose 8 percent on Tuesday after the semiconductor company reported a smaller-than expected net loss in its fiscal third quarter and was optimistic about the current quarter.
Personnel Costs Lower Green Dot’s Quarter
Shares of Green Dot Corp. were up more than 5 percent in after-hours trading Tuesday after the prepaid debit card company reported lower but better-than-expected net income in the first quarter.
Herbalife Posts Better-Than-Expected Profit
Herbalife Ltd. late Monday reported adjusted first quarter earnings significantly better than Wall Street expected, raising its full-year profit forecast.
PennyMac Financial Provides IPO Details
PennyMac Financial Services said Monday it planned to raise $200 million though a previously announced initial offering by selling 11.1 million shares at a price range of $17 to $19.
Thomas Properties to Move to NYSE
Thomas Properties Group Inc. said it would transfer its stock listing from the Nasdaq Global Market to the New York Stock Exchange next week in an effort to boost investor interest in its common shares.
K-Swiss Shareholders Approve Acquisition
K-Swiss Inc. on Friday said that announced that its stockholders had approved its $170 million acquisition by South Korean retailer E. Land World.
Acquisition Targets Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies gained strongly for the week as two companies announced they were being acquired.
Lower Oxy Profit Better Than Expected
Occidental Petroleum Corp on Thursday reported higher-than-expected net income as the oil and gas company employed cost cutting domestically to offset the impact of lower natural gas prices.
Caruso Announces Changes for Americana at Brand
Caruso Affiliated on Wednesday announced more than $60 million in renovations at Americana at Brand, largely aimed at the Brand Boulevard side of the Glendale shopping center.
Profit Enhances OSI Systems’ Quarter
Shares of OSI Systems Inc. rose nearly 10 percent on Wednesday after the company reported lower-than-expected fiscal third-quarter earnings but a larger stock buyback.
Amgen Reports Lower-Than-Expected Sales
Shares of Amgen Inc. fell 6 percent in after-hours trading Tuesday after the biotech giant reported first-quarter sales that fell short of Wall Street expectations.
PennyMac To Offer Residential Mortgage Bonds
PennyMac Mortgage Investment Trust said it plans to issue its first residential-mortgage bonds starting in the third quarter.
Rothenberg To Head L.A. Sports Council
The Los Angeles Sports Council has named L.A. business leader Alan Rothenberg interim chairman to replace former KPMG partner Scott London.
Swiss Company To Acquire Power-One
Shares of Power-One Inc. soared 57 percent on Monday after Swiss industrial giant ABB Ltd. said it signed a deal to buy the Camarillo power-conversion technology company for roughly $1 billion.
Virco Shares Fall on Weak Quarter
Shares of Virco Mfg. Corp. fell almost 13 percent on Friday after the institutional furniture maker reported a larger quarterly loss and warned of continuing volatility and weaker demand in its core K-12 public school market.
Joe's Jeans, Virtual Piggy Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies fell slightly for the week.
Cherokee Delays Year-End Report
Cherokee Inc. said that it had delaying filing of its annual report due to unspecified financial reporting issues that occurred before its new chief financial officer started.
Better-Than-Expected Quarter for East West
East West Bancorp Inc. on Wednesday reported higher net income in the first quarter as loan growth and quality improved.
Higher PacWest Profit Lower Than Expected
PacWest Bancorp on Wednesday said that its first-quarter net income more than doubled, but the results still fell short of Wall Street expectations.
Cathay General Profit Falls
Cathay General Bancorp on Tuesday reported lower first quarter net income as the company continued to pay down money it borrowed from the U.S. Treasury during the recession.
Analyst Upgrades DreamWorks
A local stock analyst on Tuesday upgraded shares of DreamWorks Animation SKG Inc. from “sell” to “buy,” saying that the filmmaker’s prospects over the next year are brighter than expected.
Mandalay Digital Announces Reverse Stock Split
Shares of Mandalay Digital Group Inc. rose more than 13 percent on Monday after the company announced a reverse stock split and said two directors invested an additional $1 million.
Expenses Move Joe's Jeans to Loss
Joe's Jeans Inc. on Monday moved from a profit to a loss in the first quarter on higher operating expenses.
Medical Pot Dispenser Looks to Expand Delivery
ACQUISITION: Medbox buys maker of medicinal vaporizing products.
Medbox Inc., which makes ATM-like devices that dispense medical marijuana and other pharmaceuticals after-hours, recently announced an acquisition that’s in line with its founders’ ambitions to increase the respectability of the medical marijuana industry.
Contact Lens Maker Draws Wall Street’s Focus
Health Care: Staar’s stock shoots up on strength of quarterly revenue.
Investors like what they see in contact lens maker Staar’s increased revenue.
Signature CEO Resigns
Signature Group Holdings Inc. said that Craig Noell has resigned as chief executive and Chairman Chris Colville will take his place.
Staar, RealD Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies gained strong for the week.
Pair Charged in KPMG Case
Federal criminal and civil charges were filed Thursday against former KMPG partner Scott London and his friend who allegedly traded on insider information about KPMG clients that included Herbalife Ltd. and Skechers USA Inc.
Reliance Steel’s Largest Acquisition Nears Completion
Reliance Steel & Aluminum Co. acquisition target Metals USA Holdings Corp. on Thursday said that its shareholders had approved the $766 million deal by an overwhelming margin.
Soon-Shiong Adds to Stake in Jakks
An investment company controlled by Patrick Soon-Shiong has bought more than 3 million shares of Jakks Pacific Inc., increasing the Los Angeles billionaire’s stake in the Malibu toymaker from 9 percent to nearly 14 percent.
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