Los Angeles Business Journal

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

Jump in Mortgage Rates Hits Home With Hunters

REAL ESTATE: Prospect of continued rise has some buyers in rush to move in. Some house hunters fear rising mortgage rates may lock them out of a dream home.

By Helen Zhao January 13, 2017 midnight   Share

Movers for Week Ending January 13, 2017

Los Angeles-based VCA Antech Inc. was this week’s biggest mover, gaining 29 percent to end at $91.25. ImmunoCellular Therapeutics Ltd was also among the week’s movers. The Calabasas-based clinical-stage immune-based therapy company gained 27 percent to end at $2.75. Los Angeles internet advertising and marketing technology company Social Reality Inc. was the week’s biggest loser, dropping 21 percent to end at $3.94.

Mars Offers $9.1 Billion for West L.A. Veterinary Chain VCA

VCA Inc., the West Los Angeles-based chain of veterinary clinics received a buyout offer Monday from Mars Inc. valued at $9.1 billion, according to the companies.

Movers for Week Ending January 6, 2017

Glendale-based Apollo Medical Holdings Inc. was the week’s biggest gainer jumping 33.3 percent to close the week at $10. Arrowhead Pharmaceuticals Inc. also posted big gains. The Pasadena biotech firm ticked up 26.4 percent to close at $1.96. Downtown advertising firm Social Reality Inc. was the week’s biggest loser, dropping 18.6 percent to close at $5.

Banks Bonding With New Year

Bankers are investing in expansion in expectation of a strong year of growth.

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DWP, city of L.A. draft plan to speed water, power hook-ups.

A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

Seth Manheimer sure wishes the “bill of rights” for customers of the Los Angeles Department of Water and Power that will be voted on Jan. 17 had been around a year ago when he was trying to open a yoga studio in Hollywood.

Terminated Growth Exec Returns Fire at Snapchat

INTERNET: Ex-employee alleges company misled him on app user metrics.

Fired executive claims Snap misstated growth to present better image for IPO.

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Lawsuit Aims to Uproot County Park Measure

TAXES: BizFed supports action against levy that hits developed properties.

A local business group is welcoming a legal challenge to a park tax measure approved by voters in November.

OpenGate Capital Sells South American Telecom Company for Undisclosed Sum

OpenGate Capital announced today it sold its portfolio company Getronics LATAM to a South American private investment firm Southern Cross Group for 11 times what they paid for the company in 2012. The Century City-based private equity shop did not disclose financial details of the transaction.

Movers for Week Ending December 30, 2016

West Los Angeles patent portfolio holding company Marathon Patent Group Inc. was this week’s biggest gainer, shooting up 12.4 percent to close at $1.72. Fulgent Genetics Inc., the Temple City-based genetic testing company, also was up big, gaining 11.8 percent to close at $11.57. The week’s biggest loser was Differential Brands Group Inc. of Commerce, which lost 16.3 percent to close at $2.35.

Movers for Week Ending December 23, 2016

Pasadena-based Arrowhead Pharmaceuticals Inc. was this week’s biggest mover, gaining 28 percent to end at $1.59. Ares Management LP was also among the week’s movers. The Los Angeles-based global alternative asset manager gained 15 percent to end at $18.45. Malibu toy marketing company Jakks Pacific, Inc. was this week’s biggest loser, dropping 28 percent to end at $5.05.

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San Diego Chargers Agree to Orange County Office Lease

Although the San Diego Chargers have not yet pulled the plug on their hometown, the team is making plans for a possible move to Los Angeles.

Atar Capital Acquires Team Inc. Energy Division

Beverly Hills-based Atar Capital has acquired Furmanite’s Midstream Quality Assurance Business, a carveout from Tulsa’s Team Inc.

Drug Maker Puma Biotechnology Inc. Moves Stock Listing to Nasdaq

Puma Biotechnology Inc. announced Tuesday that the company would move its stock listing from the New York Stock Exchange to the Nasdaq effective Jan., 3.

Movers for Week Ending December 16, 2016

West Los Angeles intellectual property licensing firm Marathon Patent Group Inc. was the week’s big winner, gaining 13 percent to close at $1.74. Following closely behind was Santa Monica cancer treatment research firm Kite Pharma Inc., which gained 12.8 percent to close at $51.76. The week’s biggest laggard was Nova Lifestyle Inc. The Commerce-based furniture maker’s stock price was down 15.2 percent to close at $1.96.