The Week’s Big Movers

0

The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week ended June 24 as investors continued to worry about the domestic and international economy.

The weighted LABJ index fell 0.54 percent to 122.51, with gainers outpacing decliners 94 to 70 and 18 companies unchanged.

AeroVironment Inc., a Monrovia developer of unmanned aircraft systems, was the biggest gainer after beating earnings estimates and reporting increased sales for electric car charging equipment in its fiscal fourth-quarter. Shares jumped 26 percent to $34.40.

MannKind Inc. rose 10 percent to $3.99 after a widely read online investor blog speculated that the Valencia biotech, whose first drug has been delayed in obtaining Food and Drug Administration approval, may be a good acquisition target.

One of the largest decliners, Koreatown bank Hanmi Financial Corp., which on Monday launched a $75 million secondary stock offering, fell 13 percent to $89 cents.

Three stocks that were added to the Russell 3000 and Russell Global indexes on Friday closed down as investors shifted their positions. Century City jetliner leasing company Air Lease Inc. dropped 8.5 percent to $23.55. Los Angeles medical imaging center operator RadNet Inc. fell 6.2 percent to $4.10. Los Angeles Internet hotspot provider Boingo Wireless Inc. lost 6 percent to $9.

Conversely, Bidz.com Inc., a Culver City online retailer of jewelry that was dropped from the Russell indexes, rose 9.4 percent to $1.02.

No posts to display