The Los Angeles Business Journal’s index of largest local public companies fell slightly for the week ended April 15 as investors reacted to mixed earnings and economic reports.
The weighted LABJ index closed down 1.9 percent to 125.81, with decliners outpacing gainers 108 to 56.
Farmer Bros. Co. sank 16 percent to $10.99 after the Torrance coffee roaster and distributor said that its chief executive was leaving. It also announced cost-cutting measures to combat rising prices for coffee, chocolate and other commodities.
CyberDefender Corp. fell 11 percent to $1.74 even as the Los Angeles developer of Internet security software issued an upbeat annual letter to shareholders.
Power-One, a Camarillo maker of electrical equipment for the alternative energy market, cut its first quarter outlook, citing uncertainty over whether European governments would be cutting renewable-energy subsidies. Shares fell 10.5 percent to $7.45.
Among the largest gainers were American Apparel Inc, Hot Topic Inc. and True Religion Apparel Inc., which benefitted from generally positive monthly retail sales figures. American Apparel shares jumped 18 percent to $95 cents, Hot Topic gained 11 percent to $6.52 and True Religion rose 7 percent to $26.65.
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