Los Angeles Business Journal


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Trump’s Talk Makes It Tough to Sound Out Future

ECONOMY: LAEDC’s team of forecasters put to test by stream of pronouncements.Los Angeles Economic Development Corp. forecasters try to figure in Donald Trump’s future impact. 4

By Howard Fine February 17, 2017 midnight   Share

L.A. Times-Parent Tronc Reports Yearly Profit Despite Revenue Drop

Tronc Inc., the parent company of the Los Angeles Times and Chicago Tribune, reported a profit of roughly $6.5 million (19 cents a share) in 2016 compared to a loss of $2.8 million (-11 cents a share) the year before.

Movers for Week Ending February 17, 2017

Beverly Hills-based Capricor Therapeutics Inc. was this week’s biggest mover, gaining 18 percent to end at $3.11. Puma Biotechnology was also among the week’s biggest movers. The Los Angeles pharmaceutical company gained 10 percent to end at $40.25. Commerce-based lifestyle furniture company Nova Lifestyle Inc. was the week’s biggest loser, dropping 25 percent to end at $1.26.

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Snap Control Structure Could Hinder IPO Price

TECHNOLOGY: Snapchat parent could be valued at up to $22 billion in offering.

Concentration of voting shares with the co-founders could prove costly for Snap’s IPO.

Movers for Week Ending February 10, 2017

Manhattan Beach-based shoe company Skechers was this week’s biggest mover, gaining 18 percent to end at $27.78. Activision Blizzard was also among the week’s biggest movers. The Santa Monica-based gaming and entertainment company gained 18 percent to end at $47.23. Wesco Aircraft Holdings Inc. of Valencia was the week’s biggest loser, dropping 15 percent to end at $12.95.

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Ad Tech Firm Buys in to Sealing Deals for Clients

INVESTMENT: Centerfield expands service in sales with Qology Direct acquisition.

Ad tech firm Centerfield lands $156 million to help step into consumer sales side of scene.

Survey: L.A. Consumer Sentiment Plunged During 4th Quarter

Stung by the surprise election of Donald Trump as president, L.A. consumers turned bearish on the economy during the fourth quarter, sending a new consumer sentiment index plunging 12 percent from the previous quarter.

Clippers’ Chris Paul Teams With Turner Impact Capital on Workforce Housing Fund

Los Angeles Clippers’ point guard Chris Paul has partnered with Santa Monica-based real estate investment firm Turner Impact Capital to invest $264 million into affordable workforce housing.

Movers for Week Ending February 3, 2017

Century City’s Ritter Pharmaceuticals Inc. was the week’s biggest gainer, jumping 22.3 percent to close at $3.57. MGM Holdings Inc. of Beverly Hills, the parent company of Metro-Goldwyn-Mayer Studios Inc., also was up, gaining 13.3 percent to close at $96.75. The week’s biggest laggard was Nova Lifestyle Inc., which dropped 15.18 percent to close at $1.62.

Flower Vendor Hits Pay Dirt in C Round

E-tailer Bouqs scores $24 million with intent to further grow roots in field packed with competitors.

C Series investors take a $24 million rooting interest in online flower vendor Bouqs Co.

Equipment Financer Powered Up By Private Equity Firm

While helping a farmer harvest corn doesn’t seem like something the financial tech industry is clamoring to address, the rise of companies such as West L.A.’s Currency Capital proves online banking solutions are pushing further afield.

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UPDATE: Snap Inc. Files for $3 Billion IPO; Discloses 158 Million Daily Active Users

Snap Inc., parent company of ephemeral photo-sharing and messaging app Snapchat, has filed for a $3 billion initial public offering of its stock on the New York Stock Exchange in March.

Houlihan Reports Earnings of $0.51 a Share

Houlihan Lokey announced its financial results for the third quarter Wednesday with the investment bank reporting earnings of $0.51 a share. The company had $248 million in total revenue, up 21 percent year-over-year.

InvestCloud Moving to Headquarters in West Hollywood

Fintech platform developer InvestCloud Inc. is moving into new West Hollywood digs as the company looks to expand operations.

Movers for Week Ending January 27, 2017

Downtown real estate developer Cadiz Inc. was the week’s biggest gainer, shooting up 18.4 percent to close at $14.80. Internet advertiser and marketer Social Reality Inc. also made a big jump. The arts district-based company gained 13.9 percent to close at $3.69. Beverly Hills-based kids entertainment outfit Genius Brands International Inc. was the week’s biggest loser, dropping 14.8 percent to $4.35.