The Los Angeles Business Journal’s index of largest local public companies rose for the week as positive economic data outweighed concerns about the federal government sequester.
The weighted LABJ Stock Index closed up 2 percent to 147.26 for the trading week ending March 1. Gainers outpaced decliners 94 to 69, with nine companies unchanged.
Internet hotspot provider Boingo Wireless Inc. fell nearly 24 percent to $6.10 after an analyst downgraded shares following a disappointing fourth quarter and weak outlook. Toymaker Jakks Pacific Inc. also was hurt by downgrades following its year-end financial report, losing more than 10 percent to $11.41.
Enterprise software developer NetSol Technologies Inc. hit a 52-week high and ended up 18 percent to $11.45 following its positive earnings report and second quarter outlook. A strong fourth quarter also boosted shares of retailer Big 5 Sporting Goods Corp. by 10 percent to $15.30.