The Los Angeles Business Journal’s index of largest local public companies closed up slightly after Italian lawmakers approved economic reforms, easing investors' fears about the European debt crisis.
The weighted LABJ index rose 1.15 percent to close at 120.01 for the week ended Nov. 11. Decliners outpaced gainers 107 to 59, with nine companies unchanged.
ReachLocal Inc. jumped 25 percent to $9.45. The Woodland Hills online marketing services company for small and medium-sized businesses announced a $20 million share repurchase program. It also said that it opened a new European headquarters in Amsterdam.
Thomas Properties Group Inc. gained 20 percent to $2.88. The Los Angeles real estate company said it would resume paying a quarterly cash dividend for the first time since the commercial real estate downturn.
RealD Inc. rose nearly 12 percent to $9.89. Shares of the Beverly Hills developer of 3-D film projection systems appeared to experience a “dead cat bounce” after an earlier mixed earnings report sent the stock plummeting.
The largest decliner was Cereplast Inc., which plunged nearly 46 percent to $1.38. The El Segundo producer of environmentally friendly plastic resins for packaging reported mixed preliminary quarterly results, and announced a dilutive stock offering to be sold to institutional investors.
U.S. Auto Parts Networks Inc. slid 23 percent to $4.05. The Carson online seller of aftermarkets automotive parts and accessories reported a worse-than-expected third quarter, prompting an analyst’s downgrade.
Kennedy-Wilson Holdings Inc. fell 11 percent to $10.95. The Beverly Hills real estate company on Friday priced a 6-million-share stock offering at a 4.6 percent discount to Thursday's close.
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