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Thursday, Feb 2, 2023
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CBRE, DreamWorks Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies fell slightly for the week. The weighted LABJ index was down less than 1 percent to close at 226, though gainers outpaced losers 90 to 58. Ten companies closed the week unchanged. Markets were closed Friday in observance of Good Friday.

Among stocks trading above a dollar, downtown L.A. commercial real estate giant CBRE Group Inc. was one of the week’s leading gainers. Shares rose 8 percent to close at $38.89 on Thursday after CBRE purchased the Global Workplace Solutions unit of Milwaukee’s Johnson Controls Inc. for $1.5 billion.

DreamWorks Animation SKG Inc. was also among the week’s leading stocks after the Glendale animation studio’s newest release, “Home,” scored big at the box office, bringing in $54 million in the United States over its opening weekend. Shares rose 9 percent to close the week at $24.63.

Santa Monica biotech firm Kite Pharma was among the week’s losing stocks. Shares fell 10 percent to close the week at $53.95 after the company recently reported a wider-than-expected fourth-quarter loss. The company lost $13 million in the quarter, compared to a loss of $3 million in the same quarter a year earlier.

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