The Los Angeles Business Journal’s index of the largest local public companies was down for the week. The weighted LABJ index fell three percent to close at 238, with losers outpacing gainers 91 to 62. Four companies closed the week unchanged.
Among stocks trading above a dollar, North Hollywood’s IPC Healthcare was the week’s top gainer. Shares rose 43 percent to close at $79.37 after Team Health Holdings Inc. in Knoxville, Tenn., announced plans to buy the firm for $1.6 billion in cash. Both IPC and Team Health provide doctors to hospitals and other medical facilities.
El Segundo online postage retailer Stamps.com Inc. was another big winner. Its shares spiked 23 percent this week to close at $84.40 after announcing big revenue gains for the most recent quarter.
Tutor Perini Corp. was among the week’s losing stocks. Shares of the Sylmar construction company fell 19 percent for the week, closing at $17.01 Friday, a day after the company reported second-quarter earnings that were below analysts’ expectations.
DreamWorks Animation SKG Inc. was another losing stock this week. Shares of the company fell 16 percent on the day, closing at $20.20 after the company reported second-quarter earnings that included a larger-than-expected loss.
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