Capstone, U.S. Auto Parts Among Week’s Biggest MoversFriday, August 9, 2013
The Los Angeles Business Journal’s index of largest local public companies fell for the week.
The weighted LABJ Stock Index fell less than 1 percent to 169.02 for the trading week ended August 9. Decliners outpaced gainers 90 to 70, with three companies unchanged. Many of the most significant movers were tied to quarterly financial reports and guidance that differed from expectations.
Chatsworth microturbine maker Capstone Turbine Corp. dropped 21 percent to $1.16 and Carson aftermarket auto parts retailer U.S. Auto Parts Network Inc. fell 20 percent to 97 cents after reporting disappointing quarterly financials. Westlake Village online advertising services provider ValueClick Inc. lost more than 15 percent to close at $21.19 after missing analysts’ profit and revenues expectations.
Aecom Technology Corp. dropped 14 percent to $30.06 after the downtown Los Angeles professional technical services company cut its full-year earnings guidance.
Cornerstone OnDemand Inc. rose more than 15 percent to 52.72 after the Santa Monica provider of human resources management software reported better-than-expected revenue. Ducommun Inc. rose 15 percent to $26.59 after the Carson aerospace components maker beat second-quarter earnings forecasts.
Also among the biggest gainers was Los Angeles’ Daily Journal Corp. which publishes city legal newspapers and law magazines in California and Arizona. Like some other print media properties, shares of the chain backed by billionaire Charlie Munger got a 17 percent bounce to $162.50 on news that Amazon.com founder Jeff Bezos had purchased the Washington Post for $250 million.