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Nova Lifestyle Inc. of Commerce was this week’s biggest mover, gaining 79 percent to end at $2.26. Ares Management was also among the week’s biggest movers. The Los Angeles global alternative asset manager gained 10 percent to end at $23.25. Marina del Rey inflight entertainment company Global Eagle Entertainment Inc. was the week’s biggest loser, dropping 31 percent to end at $4.32.
Tronc Inc., the parent company of the Los Angeles Times and Chicago Tribune, reported a profit of roughly $6.5 million (19 cents a share) in 2016 compared to a loss of $2.8 million (-11 cents a share) the year before.
Beverly Hills-based Capricor Therapeutics Inc. was this week’s biggest mover, gaining 18 percent to end at $3.11. Puma Biotechnology was also among the week’s biggest movers. The Los Angeles pharmaceutical company gained 10 percent to end at $40.25. Commerce-based lifestyle furniture company Nova Lifestyle Inc. was the week’s biggest loser, dropping 25 percent to end at $1.26.
TECHNOLOGY: Snapchat parent could be valued at up to $22 billion in offering.
Concentration of voting shares with the co-founders could prove costly for Snap’s IPO.
Manhattan Beach-based shoe company Skechers was this week’s biggest mover, gaining 18 percent to end at $27.78. Activision Blizzard was also among the week’s biggest movers. The Santa Monica-based gaming and entertainment company gained 18 percent to end at $47.23. Wesco Aircraft Holdings Inc. of Valencia was the week’s biggest loser, dropping 15 percent to end at $12.95.
INVESTMENT: Centerfield expands service in sales with Qology Direct acquisition.
Ad tech firm Centerfield lands $156 million to help step into consumer sales side of scene.
Stung by the surprise election of Donald Trump as president, L.A. consumers turned bearish on the economy during the fourth quarter, sending a new consumer sentiment index plunging 12 percent from the previous quarter.
Los Angeles Clippers’ point guard Chris Paul has partnered with Santa Monica-based real estate investment firm Turner Impact Capital to invest $264 million into affordable workforce housing.
Century City’s Ritter Pharmaceuticals Inc. was the week’s biggest gainer, jumping 22.3 percent to close at $3.57. MGM Holdings Inc. of Beverly Hills, the parent company of Metro-Goldwyn-Mayer Studios Inc., also was up, gaining 13.3 percent to close at $96.75. The week’s biggest laggard was Nova Lifestyle Inc., which dropped 15.18 percent to close at $1.62.
E-tailer Bouqs scores $24 million with intent to further grow roots in field packed with competitors.
C Series investors take a $24 million rooting interest in online flower vendor Bouqs Co.
While helping a farmer harvest corn doesn’t seem like something the financial tech industry is clamoring to address, the rise of companies such as West L.A.’s Currency Capital proves online banking solutions are pushing further afield.
Snap Inc., parent company of ephemeral photo-sharing and messaging app Snapchat, has filed for a $3 billion initial public offering of its stock on the New York Stock Exchange in March.
Houlihan Lokey announced its financial results for the third quarter Wednesday with the investment bank reporting earnings of $0.51 a share. The company had $248 million in total revenue, up 21 percent year-over-year.
Fintech platform developer InvestCloud Inc. is moving into new West Hollywood digs as the company looks to expand operations.