Los Angeles Business Journal


Sluggish North American Sales Drag on Guess Earnings

Guess Inc. reported Monday that weakness in the North American market contributed to a drag on second quarter earnings.

Port of Long Beach to Increase Small Business Contracting

Port of Long Beach officials on Wednesday announced plans to spend a larger percentage of their contracting dollars on goods and services provided by small business.

Amgen Gets FDA 'Fast-Track' Status

Amgen Inc. announced on Wednesday that the Food and Drug Administration has granted priority review to ivabradine, an oral drug for the treatment of chronic heart failure.

The Honest Co. Prepares for IPO with $70 Million Series C Round

The Honest Co., co-founded by actress Jessica Alba and L.A. entrepreneur Brian Lee, has raised $70 million as it prepares to file for an IPO.

Snapchat Valued at $10 Billion with New VC Investment

Early-stage VC firm Kleiner Perkins Caufield & Byers has invested in Snapchat, giving the photo and video messenger app a valuation just shy of $10 billion, according to the Wall Street Journal.

USC, UCLA and CalTech Receive $3.75 Million Federal Grant

Southern California’s tech scene is getting federally funded. The National Science Foundation has awarded a three-year $3.75 million grant to establish an innovation hub, or “node,” in Southern California.

Brentwood Associates Acquires Marshall Retail Group

Brentwood Associates, a Los Angeles private equity firm, said Tuesday it had acquired Marshall Retail Group, a Las Vegas owner and operator of stores in casinos and airports.

Former President of Long Beach Pilotage Firm Dies

Richard Jacobsen, former president of Jacobsen Pilot Service Inc., died Friday at the age of 82, the Port of Long Beach announced.

Disney Store Headquarters in Pasadena Acquired

The Pasadena building housing the world headquarters of Disney Stores USA has been acquired by Swig Co., a San Francisco real estate investment firm, it was announced Tuesday.

Stocks Rise

The Dow Jones industrial average rose 30 points in Tuesday’s trading to 17, 107. The S&P 500 rose 2 points to 2, 000. The Nasdaq rose 13 points to 4,571. The LABJ Stock Index rose one point to 206.

Evolve Media Hires Moat

Evolve Media, the digital publisher behind men and women’s lifestyle sites CraveOnline and TotallyHer, has hired Moat to audit its metrics for display and video ads.

ZipRecruiter Gets $63 Million in Series A Money

ZipRecruiter, a hiring platform for small- and medium-sized businesses, has secured $63 million in Series A funding, the first raise for the Santa Monica company since launching in 2010.

Amazon Buys Twitch for $970 Million

In a transaction with potential local implications, Amazon announced Monday it will buy live-streaming video game site Twitch for $970 million in cash.

Disney Files Three Drone Patents

Walt Disney Co. has filed three patents to use unmanned aircraft in entertainment productions at its theme parks.

OSI Systems’ Revenue, Net Income Rise

Hawthorne’s OSI Systems reported net income of $22.1 million ($1.07 a share) for the fourth quarter ended June 30, compared to net income of $11.8 million (58 cents) in the same period a year earlier. Revenue for the maker of medical diagnostic equipment and security scanners rose 14 percent, to $260 million. The results analysts’ projections of earnings of $1.17 a share on revenue of $246 million.

Stocks Rise

The Dow Jones industrial average rose 76 points in Monday’s trading to 17, 077. The S&P 500 rose 10 points to 1,998. The Nasdaq rose 19 points to 4,557. The LABJ Stock Index rose one point to 205.

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Online Shows Tapping TV Talent

internet: YouTube producer channels small-screen vets, sponsor.

Content & Co. looks to channel TV veterans and corporate sponsorship into a successful YouTube show.

Compound Interest Spurs Offer for Chip Maker

TECHNOLOGY: Shares of International Rectifier rise as suitor pursues coating.

German suitor sparks to International Rectifier’s high-voltage product for semiconductor chips.

KFWB Newstalk Format Ends Early

KFWB-AM (980) is ending its newstalk format a week earlier than planned.

San Fernando Valley Audio Book Producer Passes

Bob Deyan, who grew his San Fernando Valley business into one of the largest independent audiobooks producers, died on Tuesday in Santa Monica from complications of ALS. He was 56.