The Week’s Big Movers
The Los Angeles Business Journal’s index of largest local public companies closed down for the week as the broader markets reacted to post-election fears that Congress won’t be able to reach a budget compromise to avoid spending cuts and tax increases early next year.
The weighted LABJ Stock Index fell 3 percent to close at 131.88 for the week ended Nov. 9. Decliners outpaced gainers 122 to 45, with 11 companies unchanged.
The largest decliner was Agoura Hills video game publisher THQ Inc., which dropped 53 percent to $1.36 after it delayed games, dropped its 2012 guidance and is evaluating strategic and financing options.
Also among the decliners was Calabasas audio technology company DTS Inc., which fell nearly 32 percent to $14.80 after it missed Wall Street’s expectations for the and reporter a loss.
Some of the biggest gainers reported quarters that were better than expected. Sylmar construction company Tutor Perini Corp. rose nearly 22 percent to $12.43 after beating Wall Street expectations. El Segundo bank Manhattan Bancorp gained 43 percent to close at $3.65 after it reported that it had moved to profit.
El Segundo retailer Big 5 Sporting Goods Corp., which was one of last week’s biggest gainers, continued to soar. Shares increased 50 percent to $13.30.