The Los Angeles Business Journal’s index of the largest local public companies fell slightly for the week. The weighted LABJ index fell around 3 percent to close at 227, with losers outpacing gainers 101 to 52. Five companies closed the week unchanged.
Among stocks trading above a dollar, El-Segundo’s Stamps.com was one of the week’s leading gainers. Shares rose 15 percent to close at $67.58 after the postage seller announced it will acquire Palo Alto’s Endicia, a provider of shipping technologies and a subsidiary of Atlanta’s Newell Rubbermaid Inc., for $215 million in cash.
Motorcar Parts of America was also up this week. Shares rose 7 percent to close at $27.96 after an insider reportedly bought additional shares in the Torrance manufacturer and distributor of aftermarket automotive parts.
Santa Monica biotech firm Kite Pharma was among this week’s losing stocks. Shares fell 17 percent to close the week at $59.78 after the company reported a 2014 net loss of $43.7 million compared to a net loss of $7.8 million for the previous year.
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