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Despite questions about slowing user growth and a $500 million loss on its 2016 balance sheet, Snap Inc. priced its initial public offering at $17 a share Wednesday, a day before it starts trading on the New York Stock Exchange.
Restaurant company DineEquity Inc.’s share price plunged today with the announcement that the company expects sales at Applebee’s Neighborhood Grill & Bar to continue their decline this year.
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.
Homeowners make room for secondary dwellings under a more lenient California law.
With property valuations hitting highs not seen since before the Great Recession, Brentwood real estate investment firm Partners Capital decided 18 months ago to do something a little different: bet on debt.
SALE: CityView originally pictured Wilmington project as condos before recession.
Developer and investment management firm CityView has sold a Wilmington apartment complex it built last year to Redfern Family Trust for $75 million, according to public records.
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.
ECONOMY: LAEDC’s team of forecasters put to test by stream of pronouncements.
Los Angeles Economic Development Corp. forecasters try to figure in Donald Trump’s future impact. 4
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.