The Los Angeles Business Journal's index of the 200 largest public companies eked out a slight rise this week, with local real estate-affiliated firms helping the index finish in the positive albeit a slight 0.47 percent gain for the week. This despite 114 of the companies either losing ground or staying flat.
The Federal Reserve's cutting of a key prime interest rate as well as the government injecting liquidity into the market helped boost local firms, especially Calabasas-based Countrywide Financial Corp., which climbed 21 percent to $5.78.
Westlake Village-based online real estate listing service provider Move.com Inc. gained 20 percent to $2.92, while Calabasas-based homebuilder Ryland Group Corp. rose 15 percent to $32.83.
On the way down was Los Angeles-based health care services management company Hythiam Inc. which shed 48 percent for the week on poor fourth quarter earnings. Shares closed the week at $1.44.
Also falling victim to poor earnings was Calabasas-based Beverly Hills Bancorp, which saw shares drop 41 percent to $2.40.
Lastly, poor earnings also took a bite out of Chatsworth-based medical device maker North American Scientific Inc. whose shares fell 21 percent to $0.33.
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