After a decline of more than 2 percent last week, the Los Angeles Business Journal’s index of 200 largest public companies in L.A. County gained 2.7 percent. In all, 136 of the companies either gained or stayed flat.
Leading the way up was Beverly Hills Bancorp, which added 60 percent for the week after hitting a 52-week low Monday ahead of surprising first quarter earnings. Shares closed the week at $2.82.
Also gaining was Rancho Cucamonga-based PFF Bancorp, which added 25 percent after being upgraded by B. Riley & Co. on Monday. Shares closed the week at $1.70.
Lastly, shares in Cougar Biotechnology Inc. gained 20 percent to $23.75 after the Los Angeles-based biotech firm reported it had narrowed its first quarter loss.
Declining the most this week was IndyMac Bancorp, which shed 42 percent after the company posted a quarterly loss of $184 million Monday and was downgraded the next day by an investment firm. Shares closed the week at $1.93.
After a week that saw shares surge more than 200 percent, shares in Los Angeles-based business-to-business financial services provider Cash Technologies Inc. dropped 36 percent to 25 cents per share.
Finally, shares in Preferred Bank Los Angeles dropped 19 percent after an investment firm expressed concern about the Los Angeles-based independent commercial bank’s debt holdings. Shares closed the week at $8.54 and have dropped nearly 70 percent so far this year.