Friday, October 10, 2014

Los Angeles, Calif Area Company 2013 Audited Earnings Up 293% Over 2008, Stock Market Prices Up 358% Since March 6, 2009 and 34 IPOs Under Obama

Since President Obama has been in the Los Angeles Area both last night and today, I think it makes sense to research what has been going on with Los Angeles Area Company earnings, stock market prices and Initial Public Offerings during the Obama Administration.

I found 48 Los Angeles Area Headquartered Companies with Market Capitalizations now of at least $2 bil each and with annual audited financial statements filed with the SEC covering all years from 2007 to 2013.

The Total Audited 2013 Net Income from Continuing Operations of these 48 Los Angeles Area Companies was $39.8 bil, an increase of a very impressive 293% over the comparable earnings of $10.1 bil in the financial meltdown year of 2008, the last year of the George W Bush/Dick Cheney Presidency.

In addition, the Total Audited Earnings of these 48 largest Los Angeles Area Companies in 2013 of $39.8 bil were up an exceptional 87% increase over the comparable earnings in 2007 of $21.3 bil, which was the peak year earnings before the disastrous effects of the 2008 financial meltdown hit......these Los Angeles Area Companies not only recouped the earnings they lost with the financial meltdown, but they also added another very high 87% of earnings.

Below here are the Audited Net Income (Loss) From Continuing Operations for each of these 48 Los Angeles Area Companies in 2013, 2012, 2011, 2009, 2008 and in 2007:



2013 2012 2011 2009 2008 2007



Audited Audited Audited Audited Audited Audited


Most Net Net Net Net Net Net


Recent Income Income Income Income Income Income


FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
California Company HQs
mil $s mil $s mil $s mil $s mil $s mil $s









Los Angeles Area







…..Technology







Western Digital Irvine Jun 14          1,617              980          1,612          1,382              470              867
Activision Blizzard Santa Monica Dec 13          1,010          1,149          1,085              113           (107)              227
Broadcom Irvine Dec 13              424              719              927                65              215              213
Ingram Micro Santa Ana Dec 13              311              306              244              202           (395)              276
CoreLogic Santa Ana Dec 13              130                91                21                  4              (10)                47
j2 Global Los Angeles Dec 13              108              122              115                67                73                68
Conversant Westlake Village Dec 13                90                79                85                62           (195)                40
International Rectifier El Segundo Jun 14                59              (89)              (55)                81           (247)              (59)
Microsemi Aliso Viejo Sep 13                44              (30)                56              (27)                50                10









…..Health Care







Amgen Thousand Oaks Dec 13          5,081          4,345          3,683          4,605          4,052          3,078
Allergan Irvine Dec 13          1,273          1,101              950              624              565              487
Edwards Lifesciences Irvine Dec 13              392              293              237              229              129              113
Questcor Pharmaceuticals Anaheim Dec 13              293              198                80                27                41                38
Health Net Woodland Hills Dec 13              170                26                61              (49)                95              194
MannKind Valencia Dec 13           (191)           (169)           (161)           (220)           (303)           (293)









…..Finance







Oaktree Capital Group Los Angeles Dec 13          6,211          6,672           (309)        11,874        (7,638)              931
Public Storage Glendale Dec 13          1,057              930              833              799              980              489
HCP Inc Long Beach Dec 13              911              801              536              106              231              136
CBRE Group Los Angeles Dec 13              322              304              240              (28)        (1,076)              400
East West Bancorp Pasadena Dec 13              295              282              245                77              (50)              161
City National Los Angeles Dec 13              233              209              176                52              110              232
CapitalSource Los Angeles Dec 13              165              491              (52)           (894)           (260)              129
Macerich Santa Monica Dec 13              159              303              239              175                87                80
Alexandria Real Estate Equities Pasadena Dec 13              135                95              117              136              101                76
Mercury General Los Angeles Dec 13              112              117              191              403           (242)              238
Douglas Emmett Inc Santa Monica Dec 13                53                28                  2              (34)              (36)              (19)
PacWest Bancorp Los Angeles Dec 13                45                57                51                (9)           (728)                90
Sunstone Hotel Investors Aliso Viejo Dec 13                22                  1                41           (151)                36                43
Kilroy Realty Los Angeles Dec 13                16                (4)              (16)                36                46                45









…..Services







Walt Disney Co Burbank Sep 13          6,636          6,173          5,258          3,307          4,427          4,674
DIRECTV El Segundo Dec 13          2,885          2,977          2,636          1,007          1,607          1,445
Jacobs Engineering Group Pasadena Sep 13              440              391              335              400              421              287
AECOM Technology Los Angeles Sep 13              243              (57)              284              187              147              100
Lions Gate Entertainment Santa Monica Mar 14              152              232              (39)              (28)           (178)              (87)
VCA Antech Inc Los Angeles Dec 13              143                51              100              136              137              125
Cheesecake Factory Calabasas Dec 13              114                98                96                43                52                74
DreamWorks Animation SKG Glendale Dec 13                56              (36)                87              151              142              218
Live Nation Entertainment Beverly Hills Dec 13              (36)           (162)              (70)           (126)           (333)              (62)









…..Other Sectors







Occidental Petroleum Los Angeles Dec 13          5,922          4,635          6,640          2,978          6,955          5,153
Mattel El Segundo Dec 13              904              776              769              529              380              600
Herbalife Los Angeles Dec 13              528              464              415              203              221              191
Monster Beverage Corona Dec 13              339              340              286              209              108              149
Reliance Steel & Aluminum Los Angeles Dec 13              325              408              349              149              484              408
Avery Dennison Pasadena Dec 13              244              158              142           (747)              266              304
Standard Pacific Irvine Dec 13              189              531              (16)              (13)        (1,231)           (695)
Teledyne Technologies Thousand Oaks Dec 13              185              163              142              114              114              102
Skechers USA Manhattan Beach Dec 13                61                11              (68)                51                53                76
Breitburn Energy Partners LP Los Angeles Dec 13              (44)              (41)              111           (107)              378              (60)









Total all 48

       39,833        36,519        28,691        28,150        10,144        21,339









% Earnings Increase







…..2013 Over 2008

293%




…..2013 Over 2007

87%





I found 131 Companies Headquartered in the Los Angeles Area in Google or Yahoo's superb Finance websites with current Total Stock Market Capitalizations of at least $100 mil and which also had their common stocks trading on each of the following three dates:
  • On December 31, 2007 during President Bush's second term.....before the 2008 financial meltdown
  • On March 6, 2009, very early in President Obama's first term, which was the lowest point for the US stock market due to the spillover effects resulting from the 2008 financial meltdown, and 
  • also on the most recent date October 10, 2014
I included in the 131 Companies 3 of them which were sold in 2014 and 2 of them which had their common stock first started trading in 2008.

The historical stock prices of these companies were obtained from the following two excellent internet resources....  Google Finance and MarketWatch Big Charts.

These 131 Los Angeles Area Companies had their equally-company-weighted average stock market prices decline by a huge 54% from December 31, 2007 during President Bush's second Presidential term, to March 6, 2009, very early in President Obama's first term, which was the very lowest point for the overall stock market due to the spillover effects resulting from the disastrous 2008 Financial Meltdown.

But in the five years and seven months since March 6, 2009 through October 10, 2014, the equally-company-weighted average stock market prices of these same 131 Los Angeles Area Companies have increased by an explosive 358%, especially impressive since there has been a stock market collapse in the most recent two weeks, particularly for smaller health care and technology stocks.
    
In addition, in the six years and nine months from December 31, 2007 before the 2008 financial meltdown to the most recent date October 10, 2014, the equally-company-weighted average stock market prices of these same 131 Los Angeles Area Companies have increased by an impressive 60%...... yeah, these Los Angeles Area Companies have not just recouped what they lost with the 2008 financial meltdown, but also added another 60%.

Below here are the stock market prices of each of these 131 Los Angeles Area Companies on October 10, 2014, on March 6, 2009, and on December 31, 2007, along with the related Stock Market Price Percentage Changes:





Market Market Market





Price Price Price





% % %





Change Change Change


Market Market Market 3-6-09 12-31-07 12-31-07


Price Price Price to to to
California Company HQs 10-10-14 3-6-09 12-31-07 6-13-14 3-6-09 10-10-14


$s $s $s


Los Angeles Area





…..Technology





CalAmp Oxnard           17.18             0.39             2.78 4305% -86% 518%
Western Digital Irvine           90.46           14.55           30.21 522% -52% 199%
Conversant Westlake Village           33.78             5.84           21.90 478% -73% 54%
Newport Irvine           16.61             3.19           12.79 421% -75% 30%
OSI Systems Hawthorne           59.12           14.07           26.47 320% -47% 123%
Stamps.com El Segundo           31.94             8.15           12.18 292% -33% 162%
International Rectifier El Segundo           39.20           11.59           33.97 238% -66% 15%
j2 Global Los Angeles           48.97           18.62           21.17 163% -12% 131%
Microsemi Aliso Viejo           22.44             9.29           22.14 142% -58% 1%
Ingram Micro Santa Ana           23.61             9.95           18.04 137% -45% 31%
CoreLogic Santa Ana           26.01           11.37           19.47 129% -42% 34%
Broadcom Irvine           36.05           16.97           26.14 112% -35% 38%
Guidance Software Pasadena             6.26             3.09           13.96 103% -78% -55%
Ixia Calabasas             8.62             4.36             9.48 98% -54% -9%
Semtech Camarillo           22.64           11.84           15.52 91% -24% 46%
Activision Blizzard Santa Monica           18.71           10.33           14.85 81% -30% 26%
DTS Inc Calabasas           25.88           15.35           25.57 69% -40% 1%
TTM Technologies Costa Mesa             5.98             4.29           11.66 39% -63% -49%
Emulex Costa Mesa             4.46             4.72           16.32 -6% -71% -73%
Qlogic Aliso Viejo             8.93             9.70           14.20 -8% -32% -37%
Quality Systems Irvine           13.49           17.75           15.25 -24% 16% -12%
Multi-Fineline Electronix Irvine             9.34           13.05           17.34 -28% -25% -46%







…..Health Care





Avanir Pharmaceuticals Aliso Viejo           11.50             0.38             1.26 2926% -70% 811%
Questcor Pharmaceuticals Anaheim           93.60             5.02             5.77 1765% -13% 1522%
STAAR Surgical Monrovia           10.78             1.25             2.64 762% -53% 308%
Endologix Irvine           10.88             1.38             2.80 688% -51% 289%
Allergan Irvine         187.61           36.52           64.24 414% -43% 192%
The Ensign Group Mission Viejo           34.42             7.82             7.86 340% 0% 338%
Health Net Woodland Hills           45.58           10.93           48.30 317% -77% -6%
Edwards Lifesciences Irvine         104.59           27.45           23.00 281% 19% 355%
Molina Healthcare Long Beach           42.26           11.43           25.80 270% -56% 64%
Amgen Thousand Oaks         137.39           46.38           46.44 196% 0% 196%
IPC The Hospitalist Co North Hollywood           44.28           15.30           20.48 189% -25% 116%
ICU Medical San Clemente           65.25           28.41           36.01 130% -21% 81%
MannKind Valencia             4.68             2.17             7.96 116% -73% -41%
Arrowhead Research Pasadena             6.37             4.30           37.80 48% -89% -83%
CytRx Los Angeles             2.39             1.96           19.88 22% -90% -88%
Masimo Irvine           21.85           24.08           39.45 -9% -39% -45%
Peregrine Pharmaceuticals Tustin             1.29             1.60             2.22 -19% -28% -42%
Skilled Healthcare Group Foothill Ranch             6.26             8.00           14.63 -22% -45% -57%
Alliance Healthcare Services Newport Beach           21.74           34.35           48.10 -37% -29% -55%







…..Finance





Consumer Portfolio Services Irvine             6.39             0.35             3.35 1726% -90% 91%
CapitalSource Los Angeles           15.50             1.01           17.59 1435% -94% -12%
CBRE Group Los Angeles           28.43             2.52           21.55 1028% -88% 32%
Macerich Santa Monica           66.04             6.79           67.32 872% -90% -2%
East West Bancorp Pasadena           32.25             3.69           24.23 774% -85% 33%
Sunstone Hotel Investors Aliso Viejo           13.61             2.11           18.29 545% -88% -26%
BBCN Bancorp Los Angeles           14.37             2.25           11.67 539% -81% 23%
Pacific Premier Bancorp Irvine           14.06             2.80             6.91 402% -59% 103%
Preferred Bank Los Angeles           23.58             5.35           26.02 341% -79% -9%
Douglas Emmett Inc Santa Monica           26.05             6.45           22.61 304% -71% 15%
PacWest Bancorp Los Angeles           39.15             9.78           41.24 300% -76% -5%
Kilroy Realty Los Angeles           60.79           15.52           54.96 292% -72% 11%
CorVel Irvine           32.65             9.25           11.51 253% -20% 184%
Public Storage Glendale         168.51           48.83           73.41 245% -33% 130%
Provident Financial Holdings Riverside           14.68             4.80           16.46 206% -71% -11%
City National Los Angeles           72.25           23.68           59.55 205% -60% 21%
Cathay General Bancorp Los Angeles           24.20             8.08           26.49 200% -69% -9%
Sabra Health Care REIT Irvine           24.36             8.24           17.17 196% -52% 42%
Hanmi Financial Los Angeles           19.54             6.64           69.96 194% -91% -72%
American Business Bank Los Angeles           31.00           11.65           16.53 166% -30% 88%
HCP Inc Long Beach           41.91           16.08           34.78 161% -54% 21%
CU Bancorp Encino           19.10             7.65           14.00 150% -45% 36%
Wilshire Bancorp Los Angeles             9.03             3.65             7.85 147% -54% 15%
CVB Financial Ontario           13.81             5.77           10.34 139% -44% 34%
Simplicity Bancorp Covina           16.23             6.80           10.09 139% -33% 61%
Alexandria Real Estate Equities Pasadena           77.54           32.83         101.67 136% -68% -24%
LTC Properties Westlake Village           38.29           16.74           25.05 129% -33% 53%
Pacific Mercantile Bancorp Costa Mesa             7.14             3.15           12.31 127% -74% -42%
Mercury General Los Angeles           49.54           23.53           49.81 111% -53% -1%
Banc of California Irvine           11.30             5.63           18.00 101% -69% -37%
California First Natl Bancorp Irvine           14.77             7.53             9.74 96% -23% 52%
Anworth Mortgage Asset Santa Monica             5.07             5.54             8.26 -8% -33% -39%







…..Services





Entravision Communications Santa Monica             4.18             0.20             7.83 1990% -97% -47%
Salem Communications Camarillo             7.02             0.34             6.59 1965% -95% 7%
On Assignment Calabasas           26.65             1.44             7.01 1751% -79% 280%
DineEquity Glendale           78.64             5.93           36.58 1226% -84% 115%
Live Nation Entertainment Beverly Hills           22.79             2.89           14.52 689% -80% 57%
Collectors Universe Santa Ana           22.44             3.38           11.18 564% -70% 101%
Cheesecake Factory Calabasas           45.25             7.15           23.71 533% -70% 91%
General Finance Corp Pasadena             8.55             1.46             9.08 486% -84% -6%
Acacia Research Corp Newport Beach           14.28             2.50             8.98 471% -72% 59%
Lions Gate Entertainment Santa Monica           30.11             5.32             9.42 466% -44% 220%
Walt Disney Co Burbank           86.27           15.83           32.28 445% -51% 167%
Daily Journal Los Angeles         184.86           34.32           41.25 439% -17% 348%
DIRECTV El Segundo           86.21           19.68           23.12 338% -15% 273%
BJs Restaurants Huntington Beach           33.94           10.66           16.26 218% -34% 109%
Korn/Ferry Intl Los Angeles           25.40             8.30           18.82 206% -56% 35%
PCM Inc El Segundo             9.23             3.24             9.31 185% -65% -1%
Reading Intl Los Angeles             8.31             3.05             9.99 172% -69% -17%
United Online Woodland Hills           10.72             4.06           11.82 164% -66% -9%
VCA Antech Inc Los Angeles           38.45           18.06           44.23 113% -59% -13%
Big 5 Sporting Goods El Segundo             9.47             4.46           14.42 112% -69% -34%
Crown Media Holdings Studio City             3.08             1.62             6.50 90% -75% -53%
Spark Networks Los Angeles             4.44             2.44             4.98 82% -51% -11%
Guess? Inc Los Angeles           20.69           13.29           37.89 56% -65% -45%
Arden Group Compton         126.38           83.86         154.69 51% -46% -18%
Jacobs Engineering Group Pasadena           46.71           32.71           95.61 43% -66% -51%
AECOM Technology Los Angeles           29.27           21.17           28.57 38% -26% 2%
Cherokee Sherman Oaks           17.22           13.27           32.27 30% -59% -47%
Pacific Sunwear California Anaheim             1.63             1.32           14.11 23% -91% -88%
Tetra Tech Pasadena           24.95           21.17           21.50 18% -2% 16%
DreamWorks Animation SKG Glendale           20.65           18.56           25.54 11% -27% -19%
Resources Connection Irvine           13.50           13.02           18.16 4% -28% -26%







…..Other Sectors





Standard Pacific Irvine             7.33             0.69             3.35 962% -79% 119%
Skechers USA Manhattan Beach           50.37             5.71           19.51 782% -71% 158%
Herbalife Los Angeles           46.44             6.47           20.14 618% -68% 131%
Motor Parts America Torrance           24.03             3.45           10.96 597% -69% 119%
Monster Beverage Corona           94.84           17.68           22.15 437% -20% 328%
Kaiser Aluminum Foothill Ranch           72.67           16.70           79.48 335% -79% -9%
Teledyne Technologies Thousand Oaks           92.39           22.29           53.33 314% -58% 73%
Calavo Growers Santa Paula           44.82           10.99           18.95 308% -42% 137%
Universal Electronics Santa Ana           49.00           15.75           33.44 211% -53% 47%
Mattel El Segundo           30.73           10.82           19.04 184% -43% 61%
Reliance Steel & Aluminum Los Angeles           62.25           22.44           54.20 177% -59% 15%
Rentech Los Angeles             1.55             0.56             1.81 177% -69% -14%
Breitburn Energy Partners LP Los Angeles           16.20             6.11           28.90 165% -79% -44%
Ryland Group Westlake Village           31.13           12.33           27.55 152% -55% 13%
Avery Dennison Pasadena           41.96           17.40           53.14 141% -67% -21%
Tutor Perini Sylmar           23.97           10.77           41.42 123% -74% -42%
Ducommun Inc Carson           26.40           11.96           38.00 121% -69% -31%
Capstone Turbine Chatsworth             0.92             0.43             1.63 114% -74% -44%
Superior Industries Intl Van Nuys           17.44             9.48           18.17 84% -48% -4%
Occidental Petroleum Los Angeles           91.56           50.54           76.99 81% -34% 19%
Farmer Brothers Torrance           27.37           15.19           22.99 80% -34% 19%
KB Home Los Angeles           14.08             8.27           21.60 70% -62% -35%
Quiksilver Huntington Beach             1.51             0.99             8.58 53% -88% -82%
Chromadex Irvine             1.01             0.70             3.75 44% -81% -73%
AeroVironment Monrovia           27.75           31.78           24.20 -13% 31% 15%
American Vanguard Newport Beach             9.58           11.73           17.35 -18% -32% -45%
JAKKS Pacific Malibu             7.86           10.80           23.61 -27% -54% -67%







Average % Change all 131 LA Area Companies


358% -54% 60%

Further, the number of Los Angeles Area Company Initial Public Offerings (IPOs) since the beginning of 2009, or during the Obama Administration, with current stock market capitalizations of at least $100 mil was 34 as compared with the above 131 Los Angeles Area Companies with current stock market capitalizations of at least $100 and which had their common stock trading before 2009, or before the Obama Administration.
 
Of these 34 IPOs, 10 were Financial, Health Care 6, Services 6 and Technology 5.

With the collapse of the stock market in the most recent two weeks, these 34 Los Angeles IPOs had an average stock market price appreciation of 16% from their Initial Offering Price for the short period of time their common stock has been trading.

Below here are these 34 Los Angeles Area IPOs filed during the Obama Administration:







%








Market








Price






10-10-14
Change






Stock Initial From
IPO Los Angeles Area Company IPO City State

Market Offering Offering
Date During Obama Administration HQs Area Sector Industry Price Price Price





$ $








7-25-14 El Pollo Loco Holdings Costa Mesa LA Consumer Services Restaurants 35.58 15.00 137%
3/17/11 Cornerstone OnDemand  Santa Monica LA Technology Application Software 30.38 13.00 134%
10/31/13 Marcus & Millichap   Calabasas LA Financial Real Estate Development 27.24 12.00 127%
5-16-14 TrueCar Santa Monica LA Technology Internet Service Provider 19.67 9.00 119%
10/11/12 KYTHERA Biopharmaceuticals  Calabasas LA Healthcare Drug Manufacturers- Major 31.70 16.00 98%
6-20-14 Kite Pharma Santa Monica LA Health Care Biotechnology 32.56 17.00 92%
12/3/13 Xencor  Monrovia LA Health Care Biotechnology 9.90 5.50 80%
6-25-14 Amphastar Pharmaceuticals Rancho Cucamonga LA Health Care Other Drug Manufacturers 10.94 7.00 56%
6/24/10 Hudson Pacific Properties  Los Angeles LA Financial REIT-Office 25.26 17.00 49%
2/14/14 Inogen  Goleta LA Health Care Medical Instruments&Supplies 20.45 16.00 28%
4/18/11 Air Lease  Los Angeles LA Services Rental & Leasing Services 31.84 26.50 20%
1/31/14 New Home Company (The)  Aliso Viejo LA Industrial Goods Residential Construction 12.80 11.00 16%
4/12/12 Oaktree Capital Group  Los Angeles LA Financial Asset Management 47.72 43.00 11%
7/28/11 Wesco Aircraft Holdings  Valencia LA Services Industrial Equipment Wholesale 16.45 15.00 10%
4-16-14 TriVascular Technologies Santa Rosa LA Health Care Medical Instruments & Supplies 13.06 12.00 9%
10-23-09 Dole Foods Westlake Village LA Consumer Goods Food 13.50 12.50 8%
9-24-14 Smart & Final Stores Commerce LA Consumer Goods Retail Grocery Stores 12.96 12.00 8%
9/24/09 Colony Financial  Santa Monica LA Financial REIT-Diversified 21.47 20.00 7%
8/1/13 American Homes 4 Rent   Malibu LA Financial REIT-Residential 16.71 16.00 4%
7/30/09 PennyMac Investment Trust  Moorpark LA Financial REIT-Residential 20.40 20.00 2%
4-16-14 Opus Bank Irvine LA Financial Bank 29.98 30.00 0%
7/19/13 Rexford Industrial Realty  Los Angeles LA Financial REIT-Diversified 13.82 14.00 -1%
5-2-14 Ares Management LP Los Angeles LA Financial Asset Management 16.60 19.00 -13%
5/16/13 William Lyon Homes  Newport Beach LA Industrial Goods Residential Construction 20.73 25.00 -17%
1/31/2013 TRI Pointe Homes  Irvine LA Industrial Goods Residential Construction 12.81 17.00 -25%
5/10/12 Western Asset Management Capital  Pasadena LA Financial REIT-Mortgage Investment 14.16 20.00 -29%
7/16/10 RealD  Beverly Hills LA Services Movie Production Theatres 11.13 16.00 -30%
4-2-14 Rubicon Project Los Angeles LA Technology Application Software 9.30 15.00 -38%
7/22/10 Green Dot  Pasadena LA Services Business Services 20.94 36.00 -42%
11/4/11 Rentech Nitrogen Partners, L.P.  Los Angeles LA Basic Materials Agriculture Chemicals 10.52 20.00 -47%
5/4/11 Boingo Wireless  Los Angeles LA Technology Information Technology Services 6.97 13.50 -48%
5/4/12 Tillys  Irvine LA Services Apparel 6.90 15.50 -55%
1/26/11 Demand Media  Santa Monica LA Technology Internet Media&Domain Services 7.53 17.00 -56%
5/20/10 ReachLocal  Woodland Hills LA Services Advertising Agencies 3.61 13.00 -72%










Total all 34





16%





















More details to come.