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Saturday, Mar 2, 2024

The Week’s Big Movers

The Los Angeles Business Journal’s index of largest local public companies was nearly flat for the week, even as European Union leaders agreed agreement on addressing the region’s debt crisis and U.S. consumer confidence rose to its highest level in six months.

The weighted LABJ index closed down 0.17 percent to 118.58 for the week ended Dec. 9. Gainers outpaced decliners 97 to 71, with 5 companies unchanged.

One of the biggest gainers was Entravision Communications Corp., closing up 258 percent to $1.77. The Santa Monica Spanish-language media company repurchased $16.2 million in senior notes and announced a special dividend.

Cadiz Inc. rose 16.5 percent to $9.90. The Los Angeles renewable energy and water resource company made a private placement of shares that raised $6 million.

THQ Inc. was the biggest local loser, falling 43 percent to 92 cents. The Agoura Hills Video game maker cut its outlook due to poor sales of its game tablet.

Manhattan Bancorp closed down 25 percent to $2.90. The El Segundo bank holding company was the biggest mover the previous week after announcing a merger with Pasadena’s Professional Business Bank.

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