The Los Angeles Business Journal’s index of the 200 largest public companies followed the Dow Jones industrial average on its rollercoaster ride this week, but managed to close down just a fraction of 1 percent with about half of the companies losing ground and half gaining or staying the same.
Getting hit the hardest was Pasadena-based lender IndyMac Bancorp, which was shut down Friday by federal regulators. Shares lost 58 percent last week to 28 cents per share.
FirstFed Financial Corp. was also down as investors shed shares of local lenders. The Santa Monica-based finance compay, which saw shares shed 32 percent to $4.91 on Friday, hitting a 52 week low of $4.71 along the way. Shares in Rancho Cucamonga-based PFF Bancorp Inc. also lost 29 percent to 76 cents per share amid the banking exodus also hitting a 52-week low Friday of 61 cents.
On the way up was IT products provider En Pointe Technologies Inc., which gained 25 percent to $2.62 after announcing it sold a majority interest in one of its subsidiaries.
Shares in Torrance-based coffee company Farmer Bros. added 14 percent after rumors circulated that the company was buying the coffee route business from Sara Lee. Shares closed the week at $23.79
Finally, shares in Monrovia-based medical device maker Staar Surgical Co. added 13 percent after the company’s chief executive gave an optimistic guidance for the upcoming year. Shares closed at $3.44 for the week.