The Week’s Biggest MoversFriday, March 29, 2013
The Los Angeles Business Journal’s index of largest local public companies rose for the week, as the broader markets posted gains as well.
The weighted LABJ Stock Index closed up 2.6 percent to 154.15 for the shortened trading week ending March 28. Gainers outpaced decliners 98 to 58, with 15 companies unchanged.
The biggest mover was real estate private equity firm Evoq Properties, which surged 34 percent to $3.85 as the company secured a $78 million loan to refinance its Alameda Square project in downtown Los Angeles.
Also gaining for the week was Torrance coffee roaster Farmer Brothers, which was up 10 percent to close at $14.70.
The biggest decliner for the week was downtown Los Angeles soft drink maker Reed’s, which dropped 8 percent to $4.08 as the company reported a 2012 net loss.
Also declining was Monrovia aerospace firm AeroVironment Inc., which dropped 4 percent to $18.13 as the federal budget impasse led to uncertainty regarding the company’s government contracts.