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Saturday, Oct 1, 2022
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The Week’s Big Movers

The Los Angeles Business Journal’s index of largest local public companies ended slightly on the positive side in a shortened trading week as investors reacted to mixed earnings and economic reports.

The weighted LABJ index closed up 0.68 percent to 126.21 on Thursday, with gainers outpacing decliners 102 to 58. The markets were closed for Good Friday.

Struggling clothing manufacturer and retailer American Apparel Inc. was one of the biggest gainers. Shares jumped 57 percent to $1.24 amid reports that the company has received additional financing from a group of Canadian investors.

Calabasas homebuilder Ryland Group Inc. benefitted from an industry report of improved monthly home sales. Shares gained 8 percent to $17.22.

Among the decliners was CyberDefender Corp., which fell 6 percent to $1.78, despite the Los Angeles developer of Internet security software issuing an upbeat annual letter to shareholders.

Farmer Bros. Co. shares declined again as the coffee roaster and distributor continues to be hurt by rising coffee bean and other raw material costs. Shares fell 5 percent to $10.93.

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