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Tuesday, Jul 5, 2022

The Week’s Big Movers

The Los Angeles Business Journal’s index of largest local public companies closed up for the week ended Dec. 3 as investors saw a weaker dollar as a positive for U.S. exports.

The weighted LABJ index fell 0.42 percent to 115.94, with gainers outpacing decliners 101 to 73.

Green Dot Corp. jumped 17.5 percent to $28.91 as the Monrovia prepaid debit card company, which went public in July, commenced a secondary offering of stock held by existing shareholders, including at least one insider.

Camarillo power management product developer Power-One Inc., which launched a new power inverter for the Asian market, gained nearly 14 percent to $10.57.

Los Angeles’ Reliance Steel & Aluminum Co., the largest metals service center company in North America, announced a pair of related acquisitions in Portland, Ore. Shares rose 11 percent to $49.52.

Among the largest decliners was CyberDefender Corp., which dropped 13 percent to $2.91 after disclosing it had received a warning letter from Nasdaq regulators. The Los Angeles Internet security software developer was late in filing its recent quarterly report.

Ixia fell 10 percent to $14.75 after the Calabasas maker of network hardware announced a larger-than-expected $175 million offering of convertible senior notes.

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