The Los Angeles Business Journal’s index of the largest local public companies fell for the week. The weighted LABJ index fell 1 percent to close at 216, with losers outpacing gainers 86 to 64. Ten companies closed the week unchanged.
Among stocks trading above a dollar, downtown L.A. legal newspaper publisher Daily Journal Corp. was one of the week’s leading gainers. Shares rose 18 percent to close at $240.00 on Friday after the company announced that it will restate some financial results after hiring a new auditor this year.
Pasadena biotechnology company Arrowhead Research Corp. also had a good week. Shares rose 18 percent to close at $7.71 after it was rumored that Gilead Sciences Inc. in Foster City was looking into buying the company.
RadNet Inc., a Los Angeles medical imaging business, was among the week’s losing stocks. Shares fell 10 percent to close the week at $8.66.
