Staar Surgical, Big 5 Among Week’s Biggest MoversFriday, May 3, 2013
The Los Angeles Business Journal’s index of largest local public companies gained strongly for the week.
The weighted LABJ Stock Index rose 2.5 percent to 164.80 for the trading week ending May 3. Gainers outpaced decliners 103 to 59, with eight companies unchanged.
Earnings reports fueled the big movers. Among the largest gainers was Staar Surgical Co., jumping 29 percent to $8.60. The Monrovia ophthalmology products company reported better-than-expected first quarter sales for its implantable eye lenses.
Big 5 Sporting Goods Corp. rose 25 percent to $19.44. Favorable weather and a strong uptick in sales of guns and ammunition propelled the El Segundo retailer to better-than-expected net income and sales in the first quarter.
Wesco Aircraft Holdings Inc. gained 13 percent to $16.70. The Valencia aerospace supply chain management company topped earnings estimates for its fiscal second quarter and boosted earnings guidance for the full year.
One of the biggest decliners was Guidance Software Inc., falling 18 percent to $8.85. The Pasadena digital software maker reported a bigger-than-expected first quarter loss.