Los Angeles Business Journal

LA FINANCE

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

Movers for Week Ending February 10, 2017

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.

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Ad Tech Firm Buys in to Sealing Deals for Clients

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.

Survey: L.A. Consumer Sentiment Plunged During 4th Quarter

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.

Clippers’ Chris Paul Teams With Turner Impact Capital on Workforce Housing Fund

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.

Movers for Week Ending February 3, 2017

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.

Flower Vendor Hits Pay Dirt in C Round

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.

Equipment Financer Powered Up By Private Equity Firm

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.

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UPDATE: Snap Inc. Files for $3 Billion IPO; Discloses 158 Million Daily Active Users

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 Reports Earnings of $0.51 a Share

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.

InvestCloud Moving to Headquarters in West Hollywood

Fintech platform developer InvestCloud Inc. is moving into new West Hollywood digs as the company looks to expand operations.

Movers for Week Ending January 27, 2017

Downtown real estate developer Cadiz Inc. was the week’s biggest gainer, shooting up 18.4 percent to close at $14.80. Internet advertiser and marketer Social Reality Inc. also made a big jump. The arts district-based company gained 13.9 percent to close at $3.69. Beverly Hills-based kids entertainment outfit Genius Brands International Inc. was the week’s biggest loser, dropping 14.8 percent to $4.35.

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Arts District industrial property owners sold on big paydays

Healthy sale prices for industrial spaces pay off for Arts District landlords willing to depart.

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Snap Decisions

INVESTMENT: Will tech giant Snap Inc. fight suits to clear IPO path?

Snap could be courting more lawsuits as the tech giant moves forward on going public.

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BID Assessment Hits Home for Venice Residents

DEVELOPMENT: Couple headed to court to fight fees on live-work property

Residents file suit to have their live-work property zoned out of Venice’s new BID.

Investment Manager Puts Money on Exec Influx

EXPANSION: Aristotle unit headquartered in New York lands Deutsche departures

Rumors have swirled that Deutsche Bank, reeling after agreeing to a $7.2 billion settlement with the feds over its handling of mortgage securities in the run-up to the 2008 market collapse, was interested in spinning off its asset management unit as a separate public company.