Los Angeles Business Journal

LA FINANCE

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

Reed’s, Motorcar Parts of America Among Week’s Big Movers

The Los Angeles Business Journal’s index of the area’s largest public companies rose for the week.

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

The Dow Jones industrial average fell 51 points in Friday’s trading to close at 16,663. The S&P 500 was flat at 1,955. The Nasdaq rose 12 points to close at 4,465. The LABJ Stock Index was flat at 202.

Stocks Rise

The Dow Jones industrial average rose 62 points in Thursday’s trading to 16,714. The S&P 500 rose 8 points to 1,955. The Nasdaq rose 19 points to 4,453. The LABJ Stock Index rose 2 points to 201.

Wash Multifamily Laundry Systems Buys Seattle Firm

Wash Multifamily Laundry Systems of El Segundo has acquired American Meter & Appliance in a deal that will allow the company to expand in the Pacific Northwest and Alaska. Wash Multifamily, which is privately held, announced the deal on Wednesday. Terms were not disclosed. Both companies provide design services and laundry equipment to apartment complexes and college campuses. As a result of its acquisition, Wash Multifamily will be able to expand to Washington, Oregon, Idaho, Montana and Alaska. The company plans to establish branch offices in Seattle and Anchorage.

Ares Management Reports Rise in Net Income

Century City private equity firm Ares Management reported strong second-quarter growth in profits and managed assets on Wednesday.

Stocks Rise

The Dow Jones industrial average gained 91 points in Wednesday’s trading to close at 16,652. The S&P 500 gained 13 points to close at 1,947. The Nasdaq gained 45 points to close at 4,434. The LABJ Stock Index gained a point to close at 199.

Stocks Fall

The Dow Jones industrial average fell 9 points in Tuesday’s trading to 16,561. The S&P 500 fell 3 points to 1,934. The Nasdaq fell 12 points to 4,389. The LABJ Stock Index fell a point to 198.

Petitioners Oppose Downtown Water Slide

Petitioners demanding the cancellation of a 1,000-foot Slip ‘N Slide-like attraction in downtown Los Angeles have collected more than 2,500 online signatures.

Stocks Rise

The Dow Jones industrial average gained 16 points in Monday’s trading to close at 16,570. The S&P 500 gained 5 points to close at 1,937. The Nasdaq gained 30 points to close at 4,401. The LABJ Stock Index gained a point to close at 199.

RadNet, Cherokee Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest public companies rose for the week. The weighted LABJ Stock Index climbed about a point to 198. Gainers outpaced losers by 81 to 76, with seven companies unchanged.

Stocks Rise

The Dow Jones industrial average rose 186 points in Friday’s trading to close at 16,554. The S&P 500 rose 22 points to close at 1,932. The Nasdaq rose 36 points to close at 4,371. The LABJ Stock Index rose 2 points to close at 198.

IPC The Hospitalist Company Completes Acquisition

IPC The Hospitalist Company Inc. announced Thursday that it has acquired GeriCare LLC, a post-acute medical group practice with operations throughout Connecticut.

Stocks Down

The Dow Jones industrial average lost 75 points in Thurday’s trading to close at 16,368. The S&P 500 lost 11 points to close at 1,910. The Nasdaq lost 20 points to close at 4,335. The LABJ Stock Index lost 2 points to close at 196.

Vance Street Buys Irish Aviation Firm

West L.A. private equity firm Vance Street Capital announced Wednesday that it had bought aviation coating company Eirtech Aviation in Shannon, Ireland. Vance plans to combine the new business with two existing portfolio companies to create a major international player in aircraft painting and interior care. Terms of the deal were not disclosed.

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

The Dow Jones rose 14 points in Wednesday’s trading to close at 16,443. The S&P 500 was flat at 1,920. The Nasdaq rose 2 points to close at 4,355. The LABJ Stock Index was flat at 197.