The Los Angeles Business Journal’s index of the 200 largest local public companies closed up for the week ended June 5, despite mixed economic data that slowed the overall markets late in the week.
The weighted LABJ index rose for a second straight week, closing up 4 percent to 100.07, with gainers outpacing decliners 132 to 47.
Cadiz Inc. soared 69 percent to $12.50 after the Los Angeles natural resources company said it had agreements with five regional water providers to share the costs of developing a water storage project at an aquifer in San Bernardino County.
Guess Inc. gained 16 percent to $28.0 after the Los Angeles apparel retailer reported better-than-expected first quarter earnings.
K-Swiss Inc. rose 14 percent to $9.73 after the Westlake Village shoe company said it acquired the remaining 43 percent equity stake in a French footwear company, which has a line K-Swiss plans to launch in the United States this summer.
Among the biggest decliners was Crown Media Holdings Inc. which fell 36 percent to $1.94. The Studio City owner and operator of the Hallmark Channel said the company’s primary debt holder, Hallmark Cards Inc., wants to recapitalize the majority of the debt, potentially gaining a larger equity stake in the company.