On Monday, Shares of Bank of America Corporation (NYSE:BAC), gained 0.24% to $16.49.
Seven years after the Great Recession, 60 percent of Los Angeles small business owners report their businesses are still recovering, according to the spring 2015 Bank of America Small Business Owner Report, a semi-annual study exploring the concerns, aspirations and perspectives of small business owners in Los Angeles and around the country. Though many are still in the process of recovering, Los Angeles small business owners are far more optimistic about the economy, business growth, revenue expectations and hiring plans than they were a year ago, based on survey results.
According to survey results, about 61 percent of Los Angeles small business owners are confident that the local economy will improve over the next year; this is up 8 percent from spring 2014 and is the highest of all markets surveyed and also higher than the national average (49 percent). Los Angeles small business owners are also more confident about growth in the national economy (57 percent, as compared to 46 percent in spring 2014 and 48 percent nationally), and the global economy (42 percent, as compared to 33 percent in spring 2014 and 35 percent nationally).
Los Angeles entrepreneurs also feel positive about the future of their businesses. Survey results indicate that more than two-thirds (67 percent) of Los Angeles small business owners plan to grow their business over the next five years, up 9 percent from last spring. In addition, 63 percent of local entrepreneurs expect an enhance in revenue over the next 12 months, contrast to 57 percent one year ago.
When looking at staffing, nearly half of Los Angeles entrepreneurs (48 percent) say they expect to hire more employees this year, up 7 percent from those surveyed one year ago. This is a higher number than counterparts in San Francisco (40 percent). Despite these hiring projections, the majority (51 percent) of Los Angeles small business owners say that it’s difficult to find qualified candidates, which is 10 percent higher than the national average. They say the top challenges in finding qualified staff are attributed to a skills gap (63 percent) and high salary demands (49 percent).
Bank of America Corporation, through its auxiliaries, provides banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, large corporations, and governments worldwide. The company operates through Consumer & Business Banking; Consumer Real Estate Services; Global Wealth & Investment Administration; Global Banking; Global Markets; and Legacy Assets & Servicing segments.
Shares of zulily, Inc. (NASDAQ:ZU), inclined 5.15% to $13.98, during its last trading session.
zulily, stated financial results for its first quarter ended March 29, 2015.
Financial Highlights
- First Quarter 2015 net sales raised to $306.6 million, up 29% year over year.
- First Quarter 2015 gross profit raised to $92.2 million, up 45% year over year.
- Non-GAAP adjusted EBITDA for the First Quarter 2015 raised to $4.4 million, up 66% year over year.
- Non-GAAP diluted net income per share for the First Quarter 2015 was $0.01 contrast to non-GAAP diluted net income per share of $0.00 for the First Quarter 2014.
- At the end of the First Quarter 2015, cash, cash equivalents, and short-term investments totaled $314.8 million.
- During the First Quarter 2015, zulily repurchased about 2.3 million shares of Class A common stock for $31.3 million.
zulily, inc. operates as an online retailer in the United States, Canada, Australia, the United Kingdom, and internationally. The company provides merchandise to moms purchasing for their children, themselves, and their homes.
At the end of Monday’s trade, Shares of NorthStar Realty Finance Corp. (NYSE:NRF), gained 0.42% to $18.91, after the real estate finance company stated its first-quarter earnings results before the opening bell Friday .
The company stated a net loss of $10.5 million, or a loss of 10 cents per share, which missed analysts’ consensus estimates of earnings of 11 cents per share by 21 cents.
Revenue for the quarter was $402.1 million, which topped analysts’ expectations of $398 million.
NorthStar Realty Finance Corp., a real estate investment trust (REIT), operates as a commercial real estate (CRE) investment and asset administration company in the United States.
Finally, Speed Commerce, Inc. (NASDAQ:SPDC), ended its last trade with 9.38% gain, and closed at $0.30.
Speed Commerce, declared that it has reached agreement with its bank syndicate group to amend its credit agreement.
Among other things, the amendment reduces the merged adjusted EBITDA required during fiscal year 2016 to be compliant with the credit agreement’s financial covenants. The changes provide the company with greater financial flexibility as it continues to attract, expand and retain relationships with leading ecommerce customers.
Speed Commerce has also declared that it has signed five new clients in the past several months, with additional key engagements predictable by the 2015/2016 holiday season. The company also confirmed that it has re-signed seven key customers whose contracts were up for renewal in 2015, setting the stage for double-digit revenue growth in fiscal 2016 and beyond.
Speed Commerce, Inc. provides e-commerce and fulfillment services to retailers and manufacturers in the United States and Canada. It offers Web platform development and hosting, order administration, fulfillment, logistics, and contact center services, which provide customers with transaction-based services and information administration tools.
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