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

Unique Period in History Unites Wealth Managers

INVESTMENT: Firms come together to cope with costs, as old guard opts to retireRange of factors brings together wealth management firms through mergers and acquisitions.

Movers for Week Ending June 23, 2017

Clinical diagnostic sequencing company Fulgent Genetics Inc. was this week’s biggest mover, gaining 32.63 percent to end at $6.95. Patrick Soon-Shiong’s Culver City-based NantHealth Inc. was also among the week’s biggest movers. The health care company gained 28.29 percent to end at $4.58. Oil and gas exploration and production company California Resources Corporation was this week’s biggest loser, dropping 10.91 percent to end at $9.23.

Electronics Retailer, Chinese Firm Reconnect with $179 Million Investment

A technology company in China announced in a regulatory filing last week that it is paying $179 million to increase its stake in online electronics retailer Newegg Inc. to almost 94 percent.

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Patrick Soon-Shiong Pulls Out of Phoenix Biomedical Complex Plan

Biotech billionaire Patrick Soon-Shiong’s plan to build a 7-acre biomedical complex in Phoenix in partnership with the city and Arizona State University is not moving forward, according to local media.

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Baby Food Company Gobbles Up $4.1 Million in Venture Funding

Organic baby-food startup Caer Inc., which does business as Yumi, announced a $4.1 million seed round last week, taking money from a mix of angel investors and venture capital outfits.

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Scopely Raises $60 Million

Mobile game producer and distributer Scopely has closed a $60 million Series C funding round led by former AOL executives at Washington, D.C.-based Revolution Growth, according to a press release filed Wednesday.

Movers for Week Ending June 9, 2017

Arts District-based Social Reality Inc. was the week’s biggest gainer, jumping 16.4 percent to close at $1.43. Santa Monica’s Kite Pharma Inc. was close behind, adding 16.3 percent to close at $87.79. The week’s biggest laggard was Fulgent Genetics Inc. of Temple City, which dropped 20.3 percent to close at $4.94.

Entertainment Takes Lead Role in CEO Pay

COMPENSATION: Disney’s Robert Iger at top despite dip.

The entertainment sector made a big production out of exec pay last year, with Disney’s Robert Iger and Activision’s Robert Kotick leading the CEO list.

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Movers for Week Ending June 2, 2017

Patrick Soon-Shiong’s Culver City-based NantHealth Inc. was this week’s biggest mover, gaining 13 percent to end at $3.48. Apollo Medical Holdings was also among the week’s biggest movers. The health care company gained 12.82 percent to end at $10.99. Internet advertising and marketing technology company Social Reality Inc. was this week’s biggest loser, dropping 17.45 percent to end at $1.23.

Hotel Partnership Makes Some Room for Investor

SALE: New York billionaire pays $100 million to buy out a co-owner in Sunset Tower.

The storied Sunset Tower Hotel in West Hollywood has a new partial owner.

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Four Seasons Residences Begins Construction with $239 Million Loan

Construction began this week on Four Seasons Residences, 58 ultra-luxury condominiums and townhouses on the outskirts of Beverly Hills, after developer Genton Property Group raised $239 million for the project.

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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.

Brentwood Associates On Target for $1.1B Fund

Firm continues busy acquisitions run, but sees personnel turnover.

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.

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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.

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