Los Angeles Business Journal

LA FINANCE

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

BizFed Opposes L.A. Minimum Wage Hike, Berkeley Study

The Los Angeles County Business Federation, or BizFed, on Wednesday formally announced its opposition to proposals to hike the minimum wage in the city of Los Angeles to at least $13.25 an hour.

Stocks Fall

The Dow Jones industrial average fell 187 points in Wednesday trading to close at 17,427. The S&P 500 fell 12 points to 2,011. The Nasdaq fell 22 points to 4,639. The LABJ Stock Index fell one point to 214.

Stocks Fall

The Dow Jones industrial average fell 27 points in Tuesday trading to close at 17,614. The S&P 500 fell five points to 2,023. The Nasdaq fell three points to 4,662. The LABJ Stock Index was flat at 214.

Infineon Closes Purchase of International Rectifier

Infineon, a German semiconductor giant, on Tuesday announced that it had finalized its purchase of El Segundo power management technology company International Rectifier. The deal, which was for about $3 billion, was announced Aug. 20.

Stocks Fall

The Dow Jones industrial average fell 97 points in Monday trading to close at 17,641. The S&P 500 fell 17 points to 2,028. The Nasdaq fell 39 points to 4,665. The LABJ Stock Index was flat at 215.

Kite Pharma, CytRx Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies fell for the week. The weighted LABJ index fell 1 percent to close at 215, with losers outpacing gainers 96 to 58. Seven companies closed the week unchanged.

Stocks Fall

The Dow Jones industrial average fell 171 points in Friday trading to close at 17,737. The S&P 500 fell 17 points to 2,045. The Nasdaq fell 32 points to 4,704. The LABJ Stock Index fell one point to 215.

PE Roundup: Private Equity Deals Announced This Week

West L.A. private equity firm Brentwood Associates announced Tuesday that it had acquired Excelligence Learning Corp. in Monterey, which manufactures and sells children’s educational products such as arts and crafts sets to schools and parents. Terms of the deal were not disclosed.

Labor Unions Take On El Super Grocery Chain

Labor unions in Los Angeles are going head to head with Paramount-based grocery chain El Super, again.

Stocks Rise

The Dow Jones industrial average rose 323 points in Thursday trading to close at 17,908. The S&P 500 rose 36 points to 2,062. The Nasdaq rose 86 points to 4,736. The LABJ Stock Index rose two points to 216.

Stocks Rise

The Dow Jones industrial average rose 213 points in Wednesday trading to close at 17,585. The S&P 500 rose 23 points to 2,026. The Nasdaq rose 58 points to 4,650. The LABJ Stock Index rose three points to 214.

Herbalife Continues to Plummet

Herbalife’s stock took a dive on Tuesday for the second consecutive day, indicating more bad news for the embattled Los Angeles nutritional supplement company and more good news for hedge fund manager Bill Ackman.

Stocks Fall

The Dow Jones industrial index fell 130 points in Tuesday trading to close at 17,372. The S&P 500 fell 18 points to 2,003. The Nasdaq fell 60 points to 4,593. The LABJ Stock Index fell three points to 211.

Stocks Fall

The Dow Jones industrial average fell 331 points in Monday trading to close at 17,502. The S&P 500 fell 38 points to 2,021. The Nasdaq fell 74 points to 4,653. The LABJ Stock Index fell three points to 213.

Arrowhead, RadNet Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies fell for the week. The weighted LABJ index fell 1 percent to close at 216, with losers outpacing gainers 86 to 64. Ten companies closed the week unchanged.