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Sunday, Feb 23, 2025

This Week’s Big Movers

The Los Angeles Business Journal’s index of the 200 largest local public companies closed up for the week ended Feb. 19, as investors were heartened by a Federal Reserve decision to start dismantling emergency lending programs to banks.

The weighted LABJ index rose more than 2 percent to 111.28, with gainers outpacing decliners 130 to 51.

Zenith National Insurance Corp. jumped more than 35 percent to $38.05 after the Woodland Hills workers compensation insurer said it was being acquired by Toronto-based Fairfax Financial Holdings Ltd. in a deal valued at $1.4 billion.

Portsmouth Square Inc. rose 19 percent to $25 after the Los Angeles real estate investment company reported a smaller fourth quarter loss.

Macerich Co. added 12 percent to $33.64 after the Santa Monica shopping mall reported a fourth-quarter loss that was better than analysts expected.

Among decliners, Trio-Tech International fell 5 percent to $3.80 after the Van Nuys semiconductor testing product company reported a larger fiscal second quarter loss than a year earlier.

Qualstar Corp., a Simi Valley data management company, also fell 5 percent to $1.99 after reporting a larger net loss in its second quarter.

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Deborah Crowe Author