The Los Angeles Business Journal’s index of largest local public companies closed up for the week as the broader markets reacted positively to strong fourth quarter corporate earnings and a temporary deal to extend the nation’s debt limit.
The weighted LABJ Stock Index gained 1.7 percent to close at 142.94 for the week ended Jan. 25. Gainers outpaced decliners 93 to 65, with 13 companies unchanged.
Among the gainers was Los Angeles homebuilder KB Home, which closed the week up nearly 14 percent to $18.55. The company announced a deal to offer mortgage services as part of a partnership with Nationstar Mortgage Holdings Inc. of Dallas.
Also gaining was Calabasas audio technology company DTS Inc., which closed the week up nearly 10 percent to $19.01. The company announced a deal to expand the use of its audio technology on mobile devices.
The largest decliner was Agoura Hills video game publisher THQ Inc., which dropped 63 percent to 11 cents as the company’s assets were split and sold at a bankruptcy auction.
Also declining was Hawthorne’s OSI Systems Inc., which fell 11 percent to $59.88 after it missed Wall Street’s expectations on revenue. The week before, it was disclosed that its body-scanning machines will be phased out of U.S. airports.