Flamemaster, Ducommun Among Week’s Biggest MoversFriday, November 1, 2013
The Los Angeles Business Journal’s index of largest local public companies fell for the week.
The weighted LABJ Stock Index closed down 0.5 percent to 176.66 for the trading week ended Nov. 1. Decliners outpaced gainers 94 to 63, with 5 companies unchanged.
The biggest mover was Pacoima industrial coatings maker Flamemaster Corp., which jumped 152 percent to $15 despite the lack of market-moving news.
Green Dot Corp. rose 24 percent to $25.46. The Pasadena company announced a new deal with longtime partner Wal-Mart Stores Inc. that expands its line of Wal-Mart MoneyCard prepaid debit cards.
United Online Inc. rose 16 percent to $12.99. The Woodland Hills online company completed the spinoff of its FTD unit.
Some companies gained on better-than-expected third-quarter earnings, among them Glendale filmmaker DreamWorks Animation SKG Inc., rising 20 percent to $33.77 and Glendale restaurant operator DineEquity Inc., up 11 percent to $80.81.
Among the largest decliners was Carson aerospace manufacturer Ducommun Inc. Shares fell 18 percent to $25.07 after the company reported lower-than-expected earnings.
Ixia fell 14 percent to $13.52. The Calabasas technology company agreed to purchase Net Optics Inc., a network monitoring software company, for $190 million. It also announced that its chief executive had resigned because he had inflated his resume.