After getting off to a great start (gaining almost 5 percent by mid-week), the Los Angeles Business Journal's index of the 200 largest public companies settled down and finished up 1.6 percent for the week.
Surprisingly, leading the way was Los Angeles-based bank Wilshire Bancorp, which posted strong earnings Tuesday. It was subsequently upgraded by two investment firms. Shares rose 33 percent to $11.97.
Shares in Los Angeles online music retailer, Naspter Inc., also gained ground adding 30 percent to $1.42 after being upgraded.
Lastly, shares in Teledyne Technology Inc. increased 21 percent to $65.17 after the Thousand Oaks technology company posted surprisingly strong second quarter earnings.
On the way down was Los Angeles-based bank First Regional Bancorp, which shed 24 percent after the bank company posted a second-quarter loss. Shares closed the week at $4.24.
Calabasas-based homebuilder Ryland Group Corp. was also stung by poor earnings, dropping 18 percent to $20.61.
Finally, the bad-earnings bug also bit Manhattan Beach-based shoe and apparel maker Skechers USA Inc., which posted disappointing second-quarter results. Shares lost 18 percent to $18.06.
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