The Week’s Biggest MoversWednesday, July 3, 2013
The Los Angeles Business Journal’s index of largest local public companies rose slightly for the week ending Wednesday as the broader markets did the same.
The weighted LABJ Stock Index was up less than one-fifth of a percent to 161 for the week ending July 3. Gainers outpaced decliners 83 to 59, with 13 companies unchanged.
Among the biggest gainers was Calabasas audio technology firm DTS Inc. Shares were up 8 percent to $21.85 as the company announced a deal to expand its business in Asia.
Also, shares of Malibu toy company Jakks Pacific Inc. were up 8 percent to $11.26. The company announced the expansion of a motocross toy line last week.
The losers included Downtown L.A. oil and gas company Breitburn Energy Partners. Shares were down 15 percent to $15.47 due to concerns that an SEC inquiry into a competitor would force Breitburn to restate its finances.
Westwood homebuilder KB Home declined 5 percent to $18.71 as investors reacted to the prospect of higher interest rates.