The Los Angeles Business Journal’s index of largest local public companies eked out a small gain for the week ended Oct. 15, despite investor worries about the effect on banks of the foreclosure crisis.
The weighted LABJ index rose 0.3 percent to 115.42, with gainers outpacing decliners 120 to 58.
Among the biggest gainers was Crown Media Holdings Inc., which jumped 40 percent to $3.32 after the Studio City operator of the Hallmark Channel benefited from analyst speculation about a possible buyout.
Rentech Inc. gained 17.5 percent to $1.21 after the Los Angeles alternative-fuels developer announced it had brought on a seasoned chief development officer.
One of the largest decliners was Joe's Jeans Inc., which fell 12 percent to $1.85 after the Commerce apparel maker reported a 70 percent drop in third-quarter profit, hurt by increased expenses and a higher tax rate.
99 Cents Only Stores fell 10 percent to $15.87 after the Commerce discount retailer reported second quarter sales that missed analysts’ expectations.
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