The Week’s Big MoversFriday, September 9, 2011
The Los Angeles Business Journal’s index of largest local public companies fell for the week ended Sept. 9 as job worries and the European debt crisis pulled the broader stock market lower.
The weighted LABJ index declined 4.5 percent to close at 106.01. The index showed 137 companies that lost value for the week compared with only 27 that gained value. Twelve companies were unchanged.
Korn Ferry International, the executive search firm, was among the biggest losers, falling 68 percent to end the week at $1.74 per share. Analyst predictions for a weak labor market hurt Korn Ferry’s investor appeal.
Other big losers included Internet advertising firm Demand Media, which declined 14 percent; airport scanner manufacturer OSI Systems, which fell 13 percent; and coffee-maker Farmer Bros. Co., which also fell 13 percent.
The biggest gainers were mostly real estate stocks. InterGroup Inc., an owner of hotels and undeveloped land, rose 11 percent to close at $25 and Meruelo Maddux Properties, the owner of downtown Los Angeles residences and offices, rose 6 percent to $4.20.