Los Angeles Business Journal

LA FINANCE

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

Defeasance Firm in Debt To Hot Real Estate Market

FINANCE: AST expects business boom to continue as interest rates rise.Hot real estate market lights fire under firms providing debt-clearing defeasance services.

By Matt Pressberg July 28, 2014 midnight   $$ Share

Molina Net Income Falls Short

Molina Healthcare Inc. reported meager earnings after markets closed Wednesday, falling well short of Wall Street expectations on profits.

EARNINGS: Dine Equity, Stamps.com, TetraTech

Dine Equity Inc., Stamps.com and TetraTech Inc. were among firms reporting earnings.

Dow Jones Down; S&P 500 Flat; Nasdaq, LABJ Up

The Dow Jones industrial average fell 32 points in Wednesday’s trading to close at 16,880. The S&P 500 was flat at 1,970. The Nasdaq gained 20 points to close at 4,463. The LABJ Stock Index gained 2 points to close at 200.

'Dragon' a Drag for DreamWorks

Weak box office results for “How to Train Your Dragon 2” put a drag on DreamWorks Animation SKG Inc. second quarter earnings, which failed to match analysts’ expectations.

Aecom Buys Hunt Construction Group

Los Angeles engineering and construction firm Aecom has purchased Hunt Construction Group for an undisclosed sum in a deal announced on Tuesday.

EARNINGS: Big 5, CBRE, Jacobs

Local companies Big 5 Sporting Goods Corp., CBRE Group Inc. and Jacobs Engineering Group Inc. were among firms reporting earnings.

Stocks Fall

The Dow Jones industrial average lost 70 points in Tuesday trading to close at 16,912. The S&P 500 lost 9 points to close at 1,970. The Nasdaq lost 2 points to close at 4,443. The LABJ Stock Index lost a point to close at 199.

Herbalife Stock Price Falls on Earnings

Shares of Herbalife fell in after-hours trading Monday after the Los Angeles company reported a decline in net income.

EARNINGS: Alexandria Real Estate Equities, Ducommun; Mercury General

Public companies reporting quarterly earnings Monday included Alexandria Real Estate Equities Inc., Ducommun Inc. and Mercury General Corp.

Dow Jones, S&P 500 and LABJ Up, Nasdaq Down

The Dow Jones industrial average rose 22 points in Monday’s trading to close at 16,983. The S&P 500 rose half a point to close at 1,979. The Nasdaq fell 5 points to close at 4,445. The LABJ Stock Index edged up by nearly a point to 200.

Stocks Fall

The Dow Jones industrial average fell 123 points in Friday’s trading to close at 16,961. The S&P 500 fell 10 points to 1,978. The Nasdaq fell 23 points to 4,450. The LABJ Stock Index edged down a point to 199.

Breitburn Energy Hits Gusher in $2 Billion Deal

Los Angeles oil company Breitburn Energy Partners announced Thursday that it has agreed to buy QR Energy of Houston for nearly $2 billion in cash and stock.

City National Beats Expectations

City National Corp. reported strong second-quarter earnings after markets closed Thursday, posting net income of $66.7 million ($1.11 a share), up 12 percent over the same period a year ago.

VCA Inc. Beats Expectations

L.A. animal health care company VCA Inc. reported earnings on Thursday that beat analysts’ expectations.

Puma Shares Skyrocket

Shares of Westwood pharmaceuticals firm Puma Biotechnology Inc. increased by nearly 300 percent Wednesday after the firm reported a successful test of a drug being developed to treat breast cancer.