Stocks Up; Mattel Rises, Cadiz Sinks

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The Dow Jones industrial average rose 304 points in Monday trading to close at 16,776.

The S&P 500 rose 36 points to 1,987.

The Nasdaq rose 73 points to 4,781.

The LABJ Stock Index rose three points to 223.

Gainers and Losers

El Segundo toymaker Mattel Inc. was one of Monday’s biggest local gainers among stocks trading above $1. Shares of the company rose 9 percent on the day, closing at $21.62 as the company readies the November release of its new high-tech Hello Barbie Doll.

Cadiz Inc. was Monday’s biggest loser. Shares plunged 38 percent Monday to close at $4.91 after the Los Angeles water marketer received notification from the federal Bureau of Land Management that it would need an environmental permit to build a pipeline to convey water from its desert aquifer to the regional water grid. Cadiz had hoped to invoke an obscure federal provision allowing the pipeline to be built without further environmental review because it would be within a railroad right-of-way.

For previous LABJ coverage, see Aquifer Operator Sinks Money Into Train.

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Howard Fine
Howard Fine is a 23-year veteran of the Los Angeles Business Journal. He covers stories pertaining to healthcare, biomedicine, energy, engineering, construction, and infrastructure. He has won several awards, including Best Body of Work for a single reporter from the Alliance of Area Business Publishers and Distinguished Journalist of the Year from the Society of Professional Journalists.

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