The Los Angeles Business Journal’s index of the largest public companies rose for the week.
The weighted LABJ stock index climbed about a point to close at 201. Laggers edged gainers by 76 to 75, with 10 companies unchanged.
Among stocks trading above a dollar, clinical-stage biotech company Kite Pharma Inc. of Santa Monica was the week’s leading gainer. The company’s shares rose 31 percent to close $34.86 after Guggenheim Securities initiated coverage on Thursday, giving the stock a “buy” rating, with a target price of $73 a share.
Beverly Hills 3-D movie technology company RealD Inc. also had a strong week. Shares rose 23 percent to close $11.69 on Friday after it was reported that the company received a $12 a share takeover bid from Starboard Value.
Van Nuys equipment maker and semiconductor testing company Trio Tech International was among the week’s losing stocks. Shares fell 18 percent to close at $3.44.
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