The Los Angeles Business Journal’s index of the largest local public companies fell slightly for the week. The weighted LABJ index fell less than 2 percent to close at 230, with losers outpacing gainers 113 to 37. Seven companies closed the week unchanged.
Among stocks trading above a dollar, Tetra Tech Inc. in Pasadena was one of the week’s leading gainers. Shares rose 7 percent to close at $26.81 on Friday after the company posted its quarterly earnings and announced that it is acquiring an environmental engineering firm in Middletown, N.Y.
El Segundo’s Big 5 Sporting Goods Corp. was also one of the week’s leading gainers. Shares rose 10 percent to close at $13.69 Friday after the retailer reported strong first-quarter earnings and revised its slate of nominees for the company’s board of directors as part of an agreement with activist investor Stadium Capital Management of New Canaan, Conn.
West L.A. cancer drug developer CytRx Corp. was among the week’s losing stocks. Shares fell 28 percent for the week, closing at $3.70 Friday, after the company reported a larger-than-expected loss for the first quarter.
Other local biotech stocks were also down: Westwood’s Puma Biotechnology, Santa Monica’s Kite Pharma and Valencia’s Mannkind Corp. all posted double-digit percentage losses for the week.
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