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Friday, Sep 30, 2022

Staar, RealD Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies gained strong for the week.

The weighted LABJ Stock Index rose 3 percent to $160.02 for the trading week ending April 12. Decliners outpaced gainers 113 to 51, with 7 companies unchanged.

Among the biggest gainers was Staar Surgical Co., jumping 19 percent to $6.41. The Monrovia maker of implantable lenses to correct vision forecast first quarter revenue growth that was better than Wall Street expected.

RealD Inc. rose 13 percent to $14.70. The Beverly Hills licensor of stereoscopic 3D technologies benefitted from upgrades by analysts who cited strong box-office sales from theaters using RealD’s technology.

Among the largest decliners was Cere Inc., down 14 percent to $3.03. The Thousand Oaks developer of genetically modified feedstocks for renewable energy production reported a disappointing fiscal second quarter.

Tetra Tech Inc, fell 11.5 percent to $25.45. The Pasadena engineering and technical service firm gave lower revenue projections for the second half of the year.

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