The Los Angeles Business Journal’s index of largest local public companies closed up slightly for the week ended Oct. 8, as investors saw signs that the Fed may act to stimulate the economy.
The weighted LABJ index rose 0.44 percent to 115.40, with gainers outpacing decliners 129 to 45.
Among the biggest gainers was Power-One Inc., which rose 14 percent to $10.38. The Camarillo maker of power devices acquired Fat Spaniel Technologies Inc. That company’s software can be used with Power-One’s renewable energy products.
Cadiz Inc. gained 14 percent to $11.68. The Los Angeles company announced that Suburban Water Systems, a water utility, had signed onto Cadiz’ water conservation and storage project in eastern San Bernardino County.
NetSol Technologies Inc. rose 13 percent to $1.81 after the Calabasas technology company announced it returned to compliance with Nasdaq listing requirements.
Among the largest decliners was Los Angeles discount chain 99 Cents Only Stores, which announced second quarter revenue that fell short of analyst expectations. Shares dropped 18 percent to $15.52.
