Los Angeles Business Journal

LA FINANCE

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

Rapper Cues Up Career In Venture Capital Sector

INVESTMENT: Nas, partner assure musician takes serious approach to funding firms.Rapper Nas is looking to spin his music-made money into hefty returns as a venture capitalist.

By Matt Pressberg October 27, 2014 midnight   $$ Share

Pacific Commerce Bank to Acquire Vibra Bank

Pacific Commerce Bank in Little Tokyo announced Thursday that it had reached an agreement to buy Chula Vista’s Vibra Bank, becoming the latest L.A.-area bank to hop onboard the merger train.

Earnings: Live Nation Beats, Oaktree Falls Short

Downtown Los Angeles investment manager Oaktree Capital Group reported third quarter earnings that missed estimates as it sold fewer holdings.

Hudson Pacific Snaps Up Playa Vista Building

A vacant ’80s-era office building in Playa Vista sold last week for $38 million. West L.A. real estate investment trust Hudson Pacific Properties Inc. paid nearly $373 a square foot for the 102,000-square-foot Marina Corporate Center at 12655 W. Jefferson Blvd. in a sale that closed Oct. 20.

Stocks Rise

The Dow Jones industrial average rose 221 points in Thursday trading to close at 17,195. The S&P 500 rose 12 points to 1,995. The Nasdaq rose 17 points to 4,566. The LABJ Stock Index rose two points to 212.

Stocks Down

The Dow Jones industrial average fell 31 points in Wednesday trading to close at 16,974. The S&P 500 fell three points to 1,982. The Nasdaq fell 15 points 4,549. The LABJ Stock Index was flat at 209.

Stocks Rise

The Dow Jones industrial average rose 188 points in Tuesday trading to close at 17,006. The S&P 500 rose 23 points to 1,985. The Nasdaq rose 78 points to 4,564. The LABJ Stock Index rose five point to 209.

Markets Mixed

The Dow Jones industrial average rose 13 points in Monday trading to close at 16,818. The S&P 500 fell three points to 1,962. The Nasdaq rose two points to 4,486. The LABJ Stock Index was flat at 205.

Medbox, Jakks Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest public companies rose for the week. The weighted LABJ index rose 5 percent to close at 204. Gainers outpaced losers by 109 to 40, with 10 companies unchanged.

Stocks Rise

The Dow Jones industrial average rose 128 points in Friday trading to close at 16,805. The S&P 500 rose 14 points to 1,965. The Nasdaq rose 31 points to 4,484. The LABJ Stock Index rose one point to 204.

Jakks, OSI, City National Beat on Earnings

Hawthorne security systems maker OSI Systems Inc. reported strong earnings Thursday, beating Wall Street expectations and topping last year’s third quarter.

Stocks Rise

The Dow Jones industrial average rose 217 points in Thursday trading to close at 16,678. The S&P 500 rose 24 points to 1,951. The Nasdaq rose 70 points to 4,453. The LABJ Stock Index rose two points to 204.

Mercury General Acquires Workmen’s Auto Insurance

Los Angeles auto and property insurer Mercury General Corp. has agreed to purchase Workmen's Auto Insurance Company of Los Angeles for $8 million, Mercury announced Thursday.

Stocks Fall

The Dow Jones industrial average fell 153 points in Wednesday trading to close at 16,461. The S&P 500 fell 14 points to 1,927. The Nasdaq fell 37 points to 4,383. The LABJ Stock Index fell one point to 201.

Stocks Rise

The Dow Jones industrial average rose 215 points in Tuesday trading to close at 16,615. The S&P 500 rose 37 points to 1,941. The Nasdaq rose 103 to 4,419. The LABJ Stock Index rose five points to 202.

Stocks Rise

The Dow Jones industrial average rose 19 points in Monday trading to close at 16,400. The S&P 500 rose 17 points to 1,904. The Nasdaq rose 58 points to 4,316. The LABJ Stock Index rose three points to 197.