The Los Angeles Business Journal's index of the 200 largest local public companies closed up slightly for the week ended Sept. 12 after a volatile trading week. Optimism over lower energy prices and the government takeover of Fannie Mae and Freddie Mac eroded late in the week over concerns about the fate of Lehman Bros. investment bank.
The local index was up 0.59 percent to $138.45 Friday compared to a week ago, with gainers outpacing losers 99 to 84.
Physicians Formula Holdings Inc. jumped 18 percent to $6.45. The Azuza cosmetics maker announced plans to buy back up to $10 million in shares.
The government bailout of two mortgage giants boosted local lender and homebuilder shares. Among the top gainers were Los Angeles-based Nara Bancorp Inc., up 22 percent to $13.44; Anworth Mortgage Asset Corp., up 13 percent to $7.47; and Calabasas-based Ryland Group Inc., up 15 percent to $26.06.
Losing ground last week was DineEquity Inc., plunging 20 percent to $17.53. The Glendale owner of the IHOP and Applebee's restaurant chains said its chief financial officer had resigned effective immediately to "pursue other opportunities" amid poor performance of the company's recently acquired Applebee's restaurants
Cheesecake Factory Inc. fell 5 percent to $14.55. An analyst downgraded shares, saying the Calabasas upscale casual restaurant chain hadn't been aggressive enough in offering promotions to lure customers in a slowing economy.
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