Los Angeles Business Journal

The Week’s Big Movers

By Deborah Crowe Originally published June 1, 2012 at 2:10 p.m., updated June 4, 2012 at 11:42 a.m.

The Los Angeles Business Journal’s index of largest local public companies closed down for the week, as a weak national jobs report scared investors on Friday.

The weighted LABJ Stock Index closed down 2.6 percent to 121.47 for the week ended June 1. Decliners outpaced gainers 123 to 46, with six companies unchanged.

Among the largest decliners was Internet-based postage site Stamps.com Inc., which fell almost 12 percent to $22.82.

On Assignment Inc. also dropped almost 12 percent to $15.23. The Los Angeles specialty employment agency was hurt by the May jobs report.

Homebuilders also were affected by the troubling economic data. Los Angeles’ KB Home dropped 14 percent to $6.94 and Calabasas’ Ryland Group Inc. fell more than 11 percent to $20.45.

The biggest gainer was Reeds Inc., which jumped 25 percent to $3.15. The Los Angeles specialty soda maker was among several noncyclical consumer products stocks to climb after the employment data was released.

CytRx Corp. rose 19 percent to $3.88. The West. L.A. cancer drug developer released positive findings for one of its experimental drugs and said it had regained compliance with Nasdaq listing requirements.

Thomas Properties Group Inc. added 14 percent to $4.73. The Los Angeles real estate company benefited from a private placement of stock that raised $50 million.