During a week where the Dow Jones industrial average closed above the 13,000 mark for the first time since Jan. 3, the Business Journal's index of 200 largest local public companies saw its second straight week of gains adding 1.9 percent. Of the companies, 120 either gained or stayed flat.
Leading the way was Wilshire Bancorp Inc., which surged 39 percent after reporting solid first quarter earnings. Shares in the Los Angeles-based bank company closed the week at $8.60 less than two weeks after hitting a 52-week low of $6.02.
Shares in Los Angeles-based American Apparel Inc. added 19 percent after shares in the company were called a bargain by analysts. Shares closed the week at $8.41, less than three weeks after hitting a 52-week low of $6.65 because of an unflattering article in the Wall Street Journal.
Finally, shares in water infrastructure systems engineer Tetra Tech International Inc. gained 13 percent to $24.24 after the Pasadena-based company reported stellar second quarter earnings.
On the way down was Rancho Cucamonga-based PFF Bancorp Inc., which saw shares shrink 52 percent after the company forecast earnings lower than investors predicted. Shares closed the week at $1.83, hitting a 52 week low of $1.52 along the way.
Shares in media company Gemstar-TV Guide International Inc. lost 16 percent after it was rumored its proposed acquisition by Macrovision Inc. may not be consummated. The deal was closed May 2. Shares in Los Angeles-based Gemstar closed the week at $4.41 just two days after hitting a 52-week low of $3.98.
Lastly, shares in Spanish-language advertising company Entravision Corp. dropped 15 percent to $6.15 after the company reported poor first quarter earnings.
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