The Week’s Big MoversFriday, September 28, 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 signs of weakness in the economy.
The weighted LABJ Stock Index closed down 0.85 percent to 138.15 for the week ended Sept. 28. Decliners outpaced gainers 100 to 64, with 12 companies unchanged.
Among the biggest decliners: Chatsworth entertainment programming distributor Image Entertainment Inc., which last week had gained after announcing shareholders approval of its merger with RLJ Acquisition Inc., ended this week down 28 percent to 5 cents. Van Nuys semiconductor maker Trio-Tech dropped 23 percent to $1.42. Thousand Oaks agricultural biotech Ceres Inc. lost 21 percent to $5.68. Agoura Hills video game developer THQ Inc. fell 12 percent to $3.70.
The biggest gainer was Broadway Financial Corp. The L.A. parent of Broadway Federal Bank announced that it moved from a loss to a profit in its fiscal second quarter, causing shares to jump 104 percent to $2.35.
El Segundo retail chain Big 5 Sporting Goods Corp. benefited from positive analyst comments, with shares gaining 11 percent to $9.99.
Los Angeles homebuilder KB Home rose 9.5 percent to $14.35 after positive analyst reports about the broader homebuilding industry.
Westwood Wi-Fi Internet provider Boingo Wireless Inc. ended the week up 8 percent to $7.94 after announcing a partnership to provide wireless Internet services for an association of rural telecommunications companies.