The Week’s Big MoversFriday, November 2, 2012
The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week as the broader markets reacted to mixed earnings and economic reports.
The weighted LABJ Stock Index fell less than 1 percent to close at 135.23 for the week ended Nov. 2. Gainers outpaced decliners 84 to 79, with 13 companies unchanged.
The biggest movers generally were prompted by earnings reports. Among the largest decliners was Monrovia implantable eye lens maker Staar Surgical Co. which dropped 19 percent to $5.09 after being downgraded by analysts following a third-quarter net loss of $90,000.
Last week’s largest decliner, North Hollywood physician practice operator IPC The Hospitalist Company Inc., fell another 15 percent to $35.48 a week after the reporting a worse-than-expected quarter and lowering its earnings guidance.
Santa Monica online content and social media company Demand Media Inc. ended the week down 12 percent to $8.24 in advance of its quarterly report on Monday.
The biggest gainers reported quarters that were significantly better than expected.
El Segundo retailer Big 5 Sporting Goods Corp. jumped 34 percent to 12.02. Westlake Village shoe company K-Swiss Inc. gained 33 percent to close at $3.11. El Segundo online postage services provider Stamps.com Inc. added 27 percent to $27.62