Nova LifeStyle, BreitBurn Energy Among Week’s Big Movers

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The Los Angeles Business Journal’s index of the largest local public companies rose for the week. The weighted LABJ index climbed 4 percent to close at 220. Gainers outpaced losers 111 to 39. Eight companies closed the week unchanged.

Nova LifeStyle Inc. of Commerce was one of the week’s leading gainers. Shares rose 30 percent to close at $2.41 on Friday a week after the furniture manufacturer announced it would expand the number of products it sells to Ikea Group.

L.A. oil and gas company BreitBurn Energy Partners also had a good week. Shares rose 28 percent to close at $8.38 as oil prices spiked 9 percent this week, the largest weekly gain since 2011.

Medbox Inc., a maker of marijuana dispensing machines, was among the week’s losing stocks. Shares fell 62 percent to close the week at $1.56. A number of law firms last month announced class action lawsuits against the West Hollywood company, which appears to have resolved tension between management and its founder and largest shareholder Vincent Mehdizadeh.

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