The Week’s Big MoversFriday, August 10, 2012
The Los Angeles Business Journal’s index of largest local public companies closed up slightly for the week as investors reacted to mixed economic and quarterly financial reports.
The weighted LABJ Stock Index rose 1.1 percent to 137.21 for the week ended Aug. 10. Gainers outpaced decliners 114 to 54, with eight companies unchanged.
One of the biggest movers was Ducommun Inc., which jumped 36 percent to $13.18. The Carson aerospace components maker reported better-than-expected second quarter profit.
Aecom Technology Corp. gained 21 percent to $18.85. The Los Angeles engineering services provider reported lower third-quarter net income but saw a significant increase in free cash flow and reaffirmed its guidance for the full year.
Reed's Inc. rose 14 percent to $4.78. The Los Angeles specialty soda maker, which will announce second quarter financials on Monday, pre-released revenue growth of 27 percent for the period.
RadNet Inc. added 13 percent to $2.61. The Los Angeles operator of diagnostic imaging services reported a better-than-expected second quarter..
One of the biggest decliners was Boingo Wireless Inc., which dropped 24 percent to $6.88. The Los Angeles operator of Wi-Fi hotspots provided guidance for the current quarter that was below Wall Street expectations.
U.S. Auto Parts Network Inc. fell 8 percent to $3.95. An analyst downgraded shares of the Carson online retailer of automotive parts when it reported lower second-quarter sales.