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BUSINESS
April 29, 1997 | Dow Jones
I-Flow Corp. said Monday that it has retained investment banker Wedbush Morgan Securities to help identify and evaluate potential acquisitions and strategic partnerships. I-Flow said it plans to expand in the ambulatory infusion pump market and expects acquisitions and strategic partnerships to play an important role in its growth. I-Flow designs, develops and markets ambulatory infusion systems.
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BUSINESS
September 16, 2009 | Ben Fritz
Blockbuster is looking lackluster. Facing increasing pressure from Redbox, Netflix Inc. and its own debt problems, the video rental giant is doubling the number of stores it is likely to close by the end of next year, the company revealed in a regulatory filing Tuesday. Struggling Blockbuster was previously aiming to shut 410 to 450 of its most unprofitable stores this year and next. A series of "accelerated closures" brings that target to 810 to 960. Blockbuster also said it might convert an additional 250 to 300 locations to outlets that focus on used DVDs.
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BUSINESS
February 7, 2008 | From Times Wire Services
Warner Music Group Corp. closed out 2007 with a best-selling holiday album by Josh Groban and a surge in digital music sales. But the company reported Wednesday that its fiscal first quarter ended in a loss after it booked expenses and a charge from the shutdown of Bulldog Entertainment, a services firm it acquired less than a year ago. Warner Music reported a loss of $16 million, or 11 cents a share, in the quarter ended Dec. 31, after a profit...
BUSINESS
August 14, 2009 | Alex Pham
The video game industry experienced a stomach-churning 29% drop in U.S. sales in July, its third-worst year-over-year slide since January 1995, when NPD Group Inc. first began tracking sales data. The monthly decline, the industry's fifth consecutive drop, means game console and software sales are now down 14% from January through July this year compared with the first seven months of 2008. To climb out of the red zone, sales from August through December would need to grow 11% from a year earlier, NPD analyst Anita Frazier said.
BUSINESS
April 25, 2008 | From Times Staff and Wire Reports
Investors sent Skechers USA Inc. shares up 20% after the Manhattan Beach shoemaker said its first-quarter profit jumped a better-than-expected 37%. Earnings rose to $32.8 million, or 70 cents a share, from $23.9 million, or 52 cents, a year earlier. Sales climbed 11.6% to $384.9 million on growing international demand and favorable exchange rates. But sales at U.S. stores open at least a year, a key measure of retail health, declined. Shares of Skechers rose $3.64 to $21.67. "They did a nice job on the expense end of the business," said Christopher Svezia, an analyst with Susquehanna Financial Group.
BUSINESS
March 3, 1998 | DEBORA VRANA, TIMES STAFF WRITER
Gary Wedbush, the 33-year-old son of Edward Wedbush, founder of Wedbush Morgan Securities, has joined the firm in its Los Angeles headquarters as manager of the trading division. Most recently, the younger Wedbush was director of convertible securities for NationsBanc Montgomery Securities. While still in high school Wedbush worked one summer in the mail room at his father's firm and said he was especially drawn to the trading floor. "I feel so lucky that my father is in this business.
BUSINESS
February 13, 2009 | Alex Pham
Seeking to avoid mortal combat with its creditors, Midway Games Inc. filed for Chapter 11 bankruptcy protection Thursday. This probably isn't game over for the Chicago game publisher. Midway would have tipped over years ago if not for Sumner Redstone, whose family owns National Amusements Inc., a holding company that has controlling stakes in Viacom Inc. and CBS Corp. Redstone, who has his own financial troubles, pumped hundreds of millions of dollars into Midway before he was forced to sell it last year, for pennies on the dollar, to an investor named Mark Thomas.
BUSINESS
June 8, 1999 | WALTER HAMILTON
Los Angeles-based brokerage firm Wedbush Morgan Securities will announce today a plan to sell initial public offerings to individual investors via the Internet. Wedbush Morgan plans to follow in the footsteps of high-profile upstarts such as Wit Capital Corp. and W.R. Hambrecht & Co., which have specialized in making IPOs available electronically to small investors. Previously, brokerage houses doled out coveted IPOs only to powerful institutional investors such as mutual funds.
BUSINESS
August 14, 2009 | Alex Pham
The video game industry experienced a stomach-churning 29% drop in U.S. sales in July, its third-worst year-over-year slide since January 1995, when NPD Group Inc. first began tracking sales data. The monthly decline, the industry's fifth consecutive drop, means game console and software sales are now down 14% from January through July this year compared with the first seven months of 2008. To climb out of the red zone, sales from August through December would need to grow 11% from a year earlier, NPD analyst Anita Frazier said.
BUSINESS
August 28, 2008 | Andrea Chang, Times Staff Writer
Orange County surf-wear giant Quiksilver Inc. said Wednesday that it had reached an agreement to sell Rossignol, its flagging winter sports equipment division, in a deal valued at $147 million. That was less than half what Quiksilver paid just three years ago to acquire Rossignol. The bid by Chartreuse & Mont Blanc, which is majority owned by Macquarie Group of Australia, comes after Quiksilver announced in January that it was looking to unload Rossignol after several quarters of weak earnings.
BUSINESS
February 13, 2009 | Alex Pham
Seeking to avoid mortal combat with its creditors, Midway Games Inc. filed for Chapter 11 bankruptcy protection Thursday. This probably isn't game over for the Chicago game publisher. Midway would have tipped over years ago if not for Sumner Redstone, whose family owns National Amusements Inc., a holding company that has controlling stakes in Viacom Inc. and CBS Corp. Redstone, who has his own financial troubles, pumped hundreds of millions of dollars into Midway before he was forced to sell it last year, for pennies on the dollar, to an investor named Mark Thomas.
BUSINESS
August 28, 2008 | Andrea Chang, Times Staff Writer
Orange County surf-wear giant Quiksilver Inc. said Wednesday that it had reached an agreement to sell Rossignol, its flagging winter sports equipment division, in a deal valued at $147 million. That was less than half what Quiksilver paid just three years ago to acquire Rossignol. The bid by Chartreuse & Mont Blanc, which is majority owned by Macquarie Group of Australia, comes after Quiksilver announced in January that it was looking to unload Rossignol after several quarters of weak earnings.
BUSINESS
April 25, 2008 | From Times Staff and Wire Reports
Investors sent Skechers USA Inc. shares up 20% after the Manhattan Beach shoemaker said its first-quarter profit jumped a better-than-expected 37%. Earnings rose to $32.8 million, or 70 cents a share, from $23.9 million, or 52 cents, a year earlier. Sales climbed 11.6% to $384.9 million on growing international demand and favorable exchange rates. But sales at U.S. stores open at least a year, a key measure of retail health, declined. Shares of Skechers rose $3.64 to $21.67. "They did a nice job on the expense end of the business," said Christopher Svezia, an analyst with Susquehanna Financial Group.
BUSINESS
February 7, 2008 | From Times Wire Services
Warner Music Group Corp. closed out 2007 with a best-selling holiday album by Josh Groban and a surge in digital music sales. But the company reported Wednesday that its fiscal first quarter ended in a loss after it booked expenses and a charge from the shutdown of Bulldog Entertainment, a services firm it acquired less than a year ago. Warner Music reported a loss of $16 million, or 11 cents a share, in the quarter ended Dec. 31, after a profit...
BUSINESS
March 10, 2004 | Marc Lifsher, Times Staff Writer
After being threatened with possible sanctions, Los Angeles investment bank Wedbush Morgan Securities said Tuesday that it was moving quickly to clear up a miscommunication with Treasurer Phil Angelides over a new state code of financial conduct. Wedbush Morgan and two other firms, Edward Jones of St. Louis and CIBC World Markets of Toronto, have been sent sanction letters.
BUSINESS
June 8, 1999 | WALTER HAMILTON
Los Angeles-based brokerage firm Wedbush Morgan Securities will announce today a plan to sell initial public offerings to individual investors via the Internet. Wedbush Morgan plans to follow in the footsteps of high-profile upstarts such as Wit Capital Corp. and W.R. Hambrecht & Co., which have specialized in making IPOs available electronically to small investors. Previously, brokerage houses doled out coveted IPOs only to powerful institutional investors such as mutual funds.
BUSINESS
March 10, 2004 | Marc Lifsher, Times Staff Writer
After being threatened with possible sanctions, Los Angeles investment bank Wedbush Morgan Securities said Tuesday that it was moving quickly to clear up a miscommunication with Treasurer Phil Angelides over a new state code of financial conduct. Wedbush Morgan and two other firms, Edward Jones of St. Louis and CIBC World Markets of Toronto, have been sent sanction letters.
BUSINESS
September 16, 2009 | Ben Fritz
Blockbuster is looking lackluster. Facing increasing pressure from Redbox, Netflix Inc. and its own debt problems, the video rental giant is doubling the number of stores it is likely to close by the end of next year, the company revealed in a regulatory filing Tuesday. Struggling Blockbuster was previously aiming to shut 410 to 450 of its most unprofitable stores this year and next. A series of "accelerated closures" brings that target to 810 to 960. Blockbuster also said it might convert an additional 250 to 300 locations to outlets that focus on used DVDs.
BUSINESS
March 3, 1998 | DEBORA VRANA, TIMES STAFF WRITER
Gary Wedbush, the 33-year-old son of Edward Wedbush, founder of Wedbush Morgan Securities, has joined the firm in its Los Angeles headquarters as manager of the trading division. Most recently, the younger Wedbush was director of convertible securities for NationsBanc Montgomery Securities. While still in high school Wedbush worked one summer in the mail room at his father's firm and said he was especially drawn to the trading floor. "I feel so lucky that my father is in this business.
BUSINESS
April 29, 1997 | Dow Jones
I-Flow Corp. said Monday that it has retained investment banker Wedbush Morgan Securities to help identify and evaluate potential acquisitions and strategic partnerships. I-Flow said it plans to expand in the ambulatory infusion pump market and expects acquisitions and strategic partnerships to play an important role in its growth. I-Flow designs, develops and markets ambulatory infusion systems.
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