LA FINANCE

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

Orbiting Stars

INVESTMENT: Celeb clients can be tough acts to manage.Wealth managers for entertainment industry clients say their oversight role can wax and wane.

Movers for Week Ending May 26, 2017

Los Angeles-based Puma Biotechnology Inc. was this week’s biggest mover, gaining 110.98 percent to end at $79.75. Clothing brand Guess? Inc. was also among the week’s biggest movers. The Los Angeles clothing brand and retailer gained 18.60 percent to end at $11.67. Calabasas-based software solutions company NetSol Technologies Inc. was this week’s biggest loser, dropping 13.33 percent to end at $3.90.

Brentwood Associates On Target for $1.1 Billion Fund

Private equity firm Brentwood Associates has raised $984 million of a targeted $1.1 billion fund, according to documents filed with the Securities and Exchange Commission last week.

L.A. Unemployment Rate Falls to New Low of 4.5 Percent as Job Growth Weakens

L.A. County’s unemployment rate fell to another new low of 4.5 percent in April, but in a sign that the local economy is close to full employment, employers in the county reversed their hiring trends and shed a net 7,000 jobs last month, state figures released Friday show.

Movers for Week Ending May 19, 2017

Glendale-based Apollo Medical Holdings Inc. was this week's biggest mover, gaining 137.5 percent to end at $9.50. Los Angeles-based Cadiz Inc. was also among the week’s biggest movers. The water supply company gained 68 percent to end at $15.65. Internet advertising and marketing technology company Social Reality Inc. was this week’s biggest loser, dropping 74.4 percent to end at $1.60.

Report: New York City Tops L.A. in Creative Jobs

While California leads the nation in creative jobs, according to a new report from Westchester’s Otis College of Art and Design, Los Angeles trails New York as the city with most jobs in the sector.

L.A. Council Passes $9.2 Billion Budget

The Los Angeles City Council on Thursday unanimously passed a $9.2 billion budget for the 2017-18 fiscal year beginning July 1, a 5 percent increase over the current fiscal year, and nearly $500 million more than what Mayor Eric Garcetti proposed last month.

Billionaires Bloom in Big Year

The Wealthiest Angelenos were enriched at a healthier rate than all U.S. households in 2016.

Tease photo

Soon-Shiong Plans Nant IPO

BIOTECH: Venture would roll up several pharma units.

Patrick Soon-Shiong will continue to nurse his presence in the sector by forming the NantBio entity.

Tease photo

Movers for Week Ending May 12, 2017

Patrick Soon-Shiong’s Culver City-based biotech company NantKwest Inc. was the week’s biggest gainer, jumping 35.8 percent to close at $3.98. Real Industry Inc. of Sherman Oaks also saw big gains, adding 30.6 percent to its share price to close at $3.20. The week’s biggest laggard was Beverly Hills’ Capricor Therapeutics Inc., which dropped 62.6 percent to close at $1.16.

NantHealth President Robert Watson Steps Down

NantHealth Inc. announced Monday that President Robert Watson will step down and become a consultant for the company.

Movers for Week Ending May 5, 2017

Long Beach’s Molina Healthcare Inc. was the week’s biggest gainer after firing two top executives, jumping 33.4 percent to close at $66.43. Carson-based aerospace components maker Ducommun Inc. also had a big week, rising 17.3 percent to close at $34.46. Westwood’s Puma Biotechnology Inc. was the week’s biggest laggard, dropping 24.4 percent to close at $30.70.

‘Subscription Lines’ Stir Concern for Some Firms

INVESTMENT: Increasingly common use of bank loans to fund deals may pose risk.

Popularity of using bank loans to fund acquisitions has raised concern at some firms.

Tease photo

Investor At Home in Medical Buildings, Senior Housing

Kayne Anderson Capital Advisors bolstered its medical building and senior housing holdings last week, acquiring real estate investment trust Sentio Healthcare Properties of Orlando, Fla., for $825 million.

Tease photo

Kayne Anderson Acquires Sentio Healthcare Properties for $825 Million

Kayne Anderson Capital Advisors bolstered its medical building and senior housing holdings last week, acquiring real estate investment trust Sentio Healthcare Properties of Orlando, Fla., for $825 million.

Prev