The Los Angeles Business Journal’s index of largest local public companies rose 5.5 percent for the week ended Oct. 14 after more optimistic investors fueled a Wall Street rally.
The weighted LABJ index closed up 5.5 percent to close at 112.92. Gainers outpaced decliners 126 to 43, with 6 companies unchanged.
OriginOil Inc. jumped 29 percent to $2.35. The Los Angeles developer of biomass production technology for algae said it will issue licenses for its technology, which is supposed to enable biofuel and chemicals producers to cut carbon emissions.
Hanmi Financial Corp. rose 12 percent $1.04 The struggling Koreatown bank holding company said it had hired a new chief financial officer.
Green Dot Corp., a Monrovia provider of prepaid debit cards, gained 11.4 percent to $34.17 after announcing a partnership with a competitor.
99 Cents Only Stores Inc. rose 7.6 percent to $21.56, The commerce discount retailer announced it would be acquired by a management group backed by a private equity firm for $1.6 billion.
Among the decliners was DTS Inc., which fell 7 percent to $25.76. An analyst cut his rating on the shares of the Calabasas audio format company from "buy" to “neutral,” and questioned the current growth prospects for Blu-ray disc players using the format.
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