The Los Angeles Business Journal’s index of largest local public companies closed down for the week.
The weighted LABJ Stock Index fell 2 percent to close at 135.73 for the week ended Oct. 26. Decliners outpaced gainers 123 to 43, with 10 companies unchanged.
Among the biggest decliners was IPC the Hospitalist Co. Inc., which sank 22 percent to $34.83. The North Hollywood operator of hospital-based physician groups missed Wall Street’s profit and revenue expectations and lowered its full-year earnings guidance.
Ixia Inc. fell 13 percent to $13.94. The Calabasas maker of networking testing equipment reported a 32 percent rise in third quarter profit that was in line with analyst expectations.
Among the biggest gainers were companies reporting better than expected quarterly earnings. Among them was El Segundo online postage services provider, Stamps.com Inc., which jumped 25 percent to $26.20. Long Beach Medicaid health services provider Molina Healthcare Inc. gained nearly 13 percent to $25.55. Pasadena labeling office products maker Avery Dennison Corp. rose 4.5 percent to $32.25.