The Los Angeles Business Journal’s index of the largest local public companies was up for the week. The weighted LABJ index rose 3 percent to close at 227, with gainers outpacing losers 119 to 30. Seven companies closed the week unchanged.
Among stocks trading above a dollar, logistics firm UTi Worldwide Inc. was the week’s leading gainer. Shares were up 60 percent to close at $7.13 after news Friday that Denmark’s DSV Group, a transport and logistics firm, has agreed to buy the company for $1.35 billion.
Westwood oil giant California Resources Corp. was also one of this week’s leading gainers. Shares rose 56 percent to close at $4.71 as a result of the higher oil prices.
Los Angeles water marketer Cadiz Inc. was among the week’s losing stocks. Shares of the company fell 62 percent for the week, closing at $3.01 after it was notified by the federal Bureau of Land Management that it would need an environmental permit to build a pipeline in order to convey water from its desert aquifer to the regional water grid.
