The Los Angeles Business Journal’s index of the largest local public companies fell for the week. The weighted LABJ Index fell 3 percent to close at 211, with losers outpacing gainers 110 to 39. Nine companies closed the week unchanged.
Among the stocks trading above a dollar, Westwood oil giant California Resources Corp., recently spun off from Occidental Petroleum Corp., was one of the week’s leading gainers. Shares rose 26 percent to close at $5.12 after oil prices began to rise on Friday. The company also announced Monday that it has dropped plans for a major drilling project in Carson.
Los Angeles oil and gas drilling partnership BreitBurn Energy Partners also had a good week. Its shares, which have been tumbling as oil prices fall, rose 21 percent to close at $6.56 as oil prices rebounded slightly.
Pasadena prepaid debit card provider Green Dot Corp. was among the week’s losing stocks. Shares fell 24 percent to close the week at $15.24 after the company reported a fourth quarter loss.
