Sport Chalet, Ducommun Among Week’s Biggest MoversFriday, May 10, 2013
The Los Angeles Business Journal’s index of largest local public companies rose strongly for the week in line with the larger markets.
The weighted LABJ Stock Index rose 2.8 percent to 167.33 for the trading week ending May 10. Gainers outpaced decliners 112 to 50, with nine companies unchanged.
One of the biggest movers was Sport Chalet Inc., soaring 48 percent to $2.15. The La Canada sporting goods chain made two marketing-related announcements.
Point.360 jumped 39 percent to $1.35. The Los Angeles integrated media management services announced a better-than-expected fiscal third quarter.
Reed’s Inc. gained 25 percent to $5.13. The Los Angeles specialty soda maker, which will report first quarter results on Tuesday, pre-released a 24 percent increase in revenue.
Among the biggest decliners was Ducommun Inc., down 25 percent to $19.02. The Carson aerospace manufacturer was downgraded by an analyst after missing first quarter revenue and earnings expectations.
NetSol Technologies Inc. fell 19 percent to $10.11. The Calabasas enterprise software developer reported lower fiscal third quarter profit on higher expenses, although revenue was up 21 percent and the company raised its guidance.