The Los Angeles Business Journal’s index of largest local public companies gained for the week as investors reacted to a significant increase in U.S. jobs last month. Quarterly reports drove most of the biggest local movers.
The weighted LABJ Stock Index closed up 0.73 percent to 135.74 for the week ended Aug. 3. Gainers outpaced decliners 105 to 61, with 10 companies unchanged.
Cadiz Inc. jumped 31 percent to $9.28. The Santa Margarita Water District in Orange County approved plans to purchase water from the Los Angeles company.
United Online Inc. rose nearly 19 percent to $51.12. The Woodland Hills Internet services company’s board approved a preliminary plan to spin off its FTD floral delivery service into a separate public company.
DineEquity Inc. gained 16 percent to $52.49. The Glendale owner of IHOP and Applebee’s restaurant chains reported better-than-expected second quarter earnings.
One of the largest decliners was RealD Inc., which dropped nearly 20 percent to $9.87. The Beverly Hills 3-D film technology company reported second quarter financials that missed analysts’ estimates.
Obagi Medical Products Inc. fell 19 percent to $12.21. An analyst downgraded shares to “hold” after the Long Beach medical skin care company said in a conference call that it was not planning to hire a financial advisor to explore a possible sale.
True Religion Apparel Inc. fell nearly 16 percent to $21.75. An analyst downgraded shares to “hold” after the Vernon designer denim maker and retailer reported a mixed second quarter and lowered its full-year guidance.
For reprint and licensing requests for this article, CLICK HERE.