San Fernando Valley Business Journal

American Homes Chairman to Invest $50 Million

American Homes 4 Rent announced Wednesday that Chairman B. Wayne Hughes will purchase $50 million of the company’s common shares in a private offering.

Ixia Releases Report on Big Security Breaches

Ixia has released a report detailing the biggest security breaches of last year and suggestions on how to avoid them in the future.

Glendale Banker Convicted of Money Laundering

The former manager of a Wells Fargo Bank in Glendale was convicted Friday of money laundering and false bank entry charges in connection with a trademark scam.

Public Storage Opens Biggest Facility in U.S.

Public Storage this week will open its largest facility in the United States.

Marcus & Millichap Partners With Prudential

Marcus & Millichap’s financing subsidiary Marcus & Millichap Capital Corp. has broadened its network of lenders through a preferred correspondent agreement with PGIM Real Estate Finance, a unit of Prudential Financial Inc.

Conejo Boys & Girls Clubs Adds to Board

The Boys & Girls Clubs of Greater Conejo Valley has added Barbara Impellizzeri to its board of governors.

CRC Drops 13 Percent on Lower Oil Prices

Shares of California Resources Corp. dropped nearly 13 percent Wednesday as oil prices fell.

The Number

West Valley crime spree focuses on contractors’ white vans.

Moorpark Warehouse Sold for $22.8 Million

Real estate investment bank Continental Partners has secured financing for the $22.8 million purchase of an industrial building in Moorpark.

Van Nuys Apartment Complex Sold for $5 Million

An 18-unit apartment complex in Van Nuys has traded hands for $5 million, according to brokerage Marcus & Millichap.

Tutor Perini to Build Saudi Air Base

Tutor Perini Corp. has won an $80 million design-build contract from the U.S. Air Force to design and construct facilities for the Royal Saudi Air Force.

B. Riley in $160 Million Merger

B. Riley Financial announced Tuesday it will merge with FBR & Co in a $160 million transaction.

MannKind Contemplates Reverse Stock Split

BIOTECH: Chief executive hopes new sales strategy will lift share price.

MannKind formulates strategies to reverse stock price decline.

The Number

Did the Aliso Canyon gas leak dent housing prices? Apparently not.

California Resources Announces Losses, Joint Venture

California Resources Corp. announced fourth-quarter losses that nevertheless beat analyst expectations.

Disney to Acquire Rest of Paris Theme Park

Walt Disney Co. announced Friday plans to acquire the minority portion of its Euro Disney operation that it doesn’t already own.

Court Rejects Anthem’s Takeover of Cigna

A federal judge ruled in favor of the Justice Department in a civil antitrust lawsuit to block health insurer Anthem, Inc.’s acquisition of Cigna Corp.

Brains Meet On Innovative Web Portal

Camarillo firm aims to match corporations with R&D solutions.

Entrepreneur finds an innovative way to connect innovators.

Amgen Promises Trump 1,600 Jobs

President Donald Trump met with pharmaceutical chief executives Tuesday, including Amgen Inc.’s Robert Bradway, who promised to add 1,600 jobs, according to a tweet from White House Press Secretary Sean Spicer.

L.A. City Council to Regulate Street Vending

The Los Angeles City Council voted Tuesday to decriminalize and regulate street vendors.

Avison Young Adds Three Brokers

Real estate brokerage Avison Young has hired three new brokers for its Los Angeles North office.

City, County Officials Seek Answers About Aliso Canyon

Los Angeles City and county officials have submitted motions endorsing a state legislative bill to prohibit gas injection at Aliso Canyon until the last year’s leak is explained.

Smart Mirror: A Makeover With Makeup

Augmented reality overlays color on image at CES debut.

Mirror, mirror: FaceCake’s new mirrors try makeup on for women so they don’t have to.

Salem Syndicates ‘Good Clean Fun’ in 60 Markets

Salem Media Group announced Tuesday that its show “Good Clean Fun with Kevin and Taylor” will launch in 60 markets across the United States.

Great American Finances Luxury Watch Website

Great American Capital Partners will provide a $20 million secured loan to Eleven James Inc. to support the company’s growth.

Simulations Plus Beats Estimates

Simulations Plus reported results that beat Wall Street expectations.

Semtech Invests in myDevices

Semtech Corp. has invested about $3 million in myDevices, an internet of things solutions company.

Galpin Rocket Car Returns to Production

Galpin Motors announced Thursday that the sports car VLF Rocket V8, formerly known as the Galpin Rocket, is in production at a Michigan speed shop.

El Torito in Burbank Closes

Real Mex Restaurants Inc. announced Monday it will close six locations in Southern California, including the El Torito eatery in Burbank, according to media reports.

High Home Prices Keep Sales Flat

New home sales in the San Fernando Valley have reached a plateau because of high prices, according to a report from the Southland Regional Association of Realtors.

Caruso Changes Name

Caruso Affiliated, the development company behind the shopping centers Americana at Brand in Glendale and Commons at Calabasas, has changed its name to simply Caruso.

Amgen, Allergan Seek Approval for Avastin Biosimilar

Amgen Inc. and Allergan plc have submitted paperwork for permission to sell a biosimilar version of cancer drug Avastin in Europe.

Ixia Rises on Buyout Report

Shares of Ixia rose nearly 15 percent Friday after Reuters published an article saying the company was looking for a potential buyer.

Princess Cruises to Pay $40 Million Penalty for Pollution

Princess Cruise Lines Ltd. will plead guilty to seven charges of deliberate pollution of the seas and pay $40 million in penalties, the Justice Department announced Thursday.

California Resources Rises 44 Percent on OPEC News

Shares of California Resources Corp. (CRC) soared 44 percent Wednesday as hopes of higher prices revived the entire oil sector.

DTS Lands New Car Customers

High-definition radios made by DTS Inc. (DTSI) will appear in 17 new car models in 2017, the company announced Wednesday.

Dispensaries Delighted by Prop 64 Vote

Legalization brings banking question to forefront for industry.

Now that all pot is legal in California, challenges still face industry.

B. Riley Creates New Corporate Finance Position

B. Riley Financial Inc. (RILY) has promoted Perry Mandarino to the new position of senior managing director and head of corporate finance.

California Resources Jumps 20 Percent on Soros Buy

The share price of California Resources Corp. rose nearly 20 percent Tuesday on higher prices for crude oil and news that billionaire George Soros increased his stake in the company.

Earnings: Monster Digital, Tix, ApolloMed, Talon

Shares of Monster Digital Inc. rose nearly 40 percent after reporting quarterly financial results.

Earnings: NetSol, B. Riley, Trio-Tech

NetSol announced widening losses, while B. Riley and Trio-Tech report profitable quarters.

Preview: Fastest Growing Companies

Skies are looking sunny for LA Solar Group, despite a hoard of competitors and signs of slowing in its industry.

Capstone Launches Distributor Finance Program

Capstone Turbine Corp. announced Tuesday a partnership with finance company Acresis to put together as much as $100 million for a product-financing program for Capstone distributors.

Wesco Wins Chemical Supply Contract

Wesco Aircraft Holdings Inc. has won a multi-year agreement with Science Applications International Corp. to support a recently awarded prime contract with the Defense Logistics Agency.

Earnings: DTS, Salem Media

DTS reports what could be its final quarter as an independent company, while Salem Media misses expectations.

Earnings: PennyMac Financial, MRV

PennyMac Financial Services Inc. reported record quarterly revenue, while MRV Communications narrowed its loss during the third quarter. Expands Cuba Flights has added 280 weekly Cuba flights to its product offerings.

On Assignment Misses Estimates

On Assignment Inc.’s net income for the third quarter fell short of analyst expectations

Tutor Perini to Raise $500 Million in Debt

Tutor Perini Corp. will sell $500 million worth of senior notes in a private offering, the company announced Monday.

The Number

North American companies expect to trade more this year.


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