Los Angeles Business Journal

Ceres, Dole Among Week’s Biggest Gainers

By Deborah Crowe Friday, June 14, 2013

The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week, in line with the larger markets.

The weighted LABJ Stock Index fell 1 percent to 161.28 for the trading week ended June 14. Gainers outpaced decliners 86 to 72, with eight companies unchanged.

Among the biggest gainers was Ceres Inc., soaring 82 percent $3.73. The Thousand Oaks developer of genetically modified seeds for biofuel crops is expected to report strong harvest yields for crops now being tested in Brazil, a key market.

Dole Food Co. rose 30 percent to $12.78. Chief Executive David Murdock made an unsolicited $12-a-share offer to buy the 60 percent of Westlake Village fresh food and vegetable company that he does not already own.

Motorcar Parts of America Inc. rose 20 percent to $7.40. The Torrance rebuilder of alternators and starters finally wrote off a failed 2011 acquisition of a Canadian parts builder and related affiliates, which were broken off from the company. The companies then filed for bankruptcy with plans to liquidate.

Among the decliners was Internet hotspot provider Boingo Wireless Inc., which fell 6 percent to $6.42.