LA BUSINESS JOURNAL DAILY NEWS
TSA Cancels OSI Deal for Baggage Scanners
Shares of OSI Systems Inc. fell nearly 10 percent on Friday after the company announced that the U.S. Transportation Security Administration canceled a $60 million order for its airport screening machines.
Puma, OSI Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week.
Stocks Gain
In Friday trading, the Dow Jones industrial average closed up 199 points, or 1 percent, to 16,020. The Nasdaq rose 29 points to 4,063. The S&P 500 rose 20 points, or 1 percent, to 1,805. The LABJ Stock Index rose more than 1 point to 176.
Riot Bars Pro Gamers From Other Titles
Under the new contract, Riot’s professional players will not be allowed to stream their gameplay of other Massive Multiplayer Online Games such as “Defense of the Ancients 2” and “World of Warcraft.”
Rubicon Reportedly Mulling IPO
The Playa Vista ad tech firm is looking to debut on the stock market next year and has hired Morgan Stanley and Goldman Sachs to lead the initial public offering, Bloomberg News reported late Thursday.
Drug Trials Boost Puma Stock
Shares of Puma Biotechnology Inc. surged 68 percent on Thursday after the cancer drug developer previewed clinical trial results from its lead drug candidate.
ATK to Consolidate Local Operations
The defense electronics system division of Alliant Techsystems Inc. will begin relocating from Woodland Hills to Northridge at the end of the month.
Earnings Roundup: UTi, Guess, Korn-Ferry
UTi Worldwide Inc. fell to a loss in its fiscal third quarter, largely due to higher expenses, but its adjusted earnings met Wall Street expectations. Guess Inc.reported lower fiscal third quarter earnings and cut its full-year revenue forecast. Korn/Ferry International's fiscal second-quarter net income beat analyst expectations, boosted by growth in the staffing company's leadership and talent consulting business.
Stocks Decline
In Thursday trading, the Dow Jones industrial average closed down 68 points to 15,822. The Nasdaq fell 5 points to 4,033. The S&P 500 fell 8 points to 1,785. The LABJ Stock Index fell less than 1 point to 175.
Poll: Have You Stayed at B&Bs?
READER POLL
The Los Angeles Business Journal has posted a new weekly poll for readers on issues in the news.
Card.com Raises $3 Million to Issue Credit Cards
The round was led by QED Investors, the private fund of Capital One co-founder Nigel Morris.
Virtual Piggy Rebrands to Lure Teens
Oink offers kids a secure, credit card-free way to make online purchases at partnered e-commerce sites such as Toys R Us and Gamestop.
Coffee Bean Names New CEO, Elias Moves to Board
Coffee Bean & Tea Leaf has named John Dawson president and chief executive, replacing Mel Elias, who served in those roles for five years.
Cities Crack Down on E-Cigarettes
City councils in both Los Angeles and Long Beach have voted to restrict sales and use of electronic cigarettes.
Disney Teams Up With Chinese Firm
Walt Disney Co. has formed a joint venture with Chinese new media firm BesTV that could help the Burbank entertainment giant increase its digital distribution in China. The deal was announced Wednesday.
Suit Reveals Details of Activision Buyout Battle
Robert Kotick reportedly threatened to quit as Activision Blizzard Inc.’s chief executive unless the board accepted his vision of the buyout of most of Vivendi’s stake in the company, according to claims in a shareholder lawsuit over the deal.
Dow, S&P Fall, Nasdaq, LABJ Rise
In Wednesday trading, the Dow Jones industrial average closed down 25 points to 15,890. The Nasdaq rose 1 point to 4,038. The S&P 500 fell 2 points to 1,793. The LABJ Stock Index rose less than 1 point to 175.
Intuit to Acquire Docstoc, Document Firm Serving Small Business
Terms of the deal, which is expected to close by the end of January, were not disclosed.
Startup Releases Software to Exercise Your Mind
The Santa Monica startup has released what it describes as a "personal fitness program for the mind." It was built as a Web app for computers, with an iPhone app set to be released next year.
Belgian Court Rules in Herbalife’s Favor
Shares of Herbalife Ltd. rose on Tuesday after an appeals court in Belgium handed the Los Angeles supplements company a victory in its battle against charges it runs an unlawful pyramid scheme.
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