The Los Angeles Business Journal’s weighted index of the largest local public companies closed up for the week ended Oct. 1, as investors reacted to some positive news on manufacturing trends.
The weighted LABJ index rose 1 percent to 116.12, with gainers outpacing decliners 132 to 41.
Among the biggest gainers was Trio-Tech International, which jumped nearly 50 percent after saying it moved to a profit in its fiscal fourth quarter on strong sales of the Van Nuys company’s semiconductor test equipment.
Great American Group Inc. gained 25 percent to 45 cents, after the Woodland Hills provider of liquidation services said it would be handling a sale for a large Temecula kitchen cabinet manufacturer.
American Apparel Inc. rose 14 percent to $1.43 after the Los Angeles apparel manufacturer and retailer announced the successful renegotiation of a key credit agreement in order to avoid breaching a loan covenant.
Most companies closing down for the week saw only mild declines. Studio City ticketing loan and events promotion company Tix Corp. fell nearly 9 percent to 62 cents after announcing it would move its stock from the Nasdaq to the Pink Sheet’s new OTCQX market in order to save money.
DreamWorks Animation SKG Inc. dropped 4.5 percent to $31.51, after an analyst downgraded the Glendale animated film maker’s stock.
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