Research Solutions, Skechers Among Week’s Biggest MoversFriday, April 25, 2014
The Los Angeles Business Journal’s index of largest local public companies closed down for the week.
The weighted LABJ Stock Index closed down 1.3 percent to 184.68 for the trading week ended April 25. Decliners outnumbered gainers 92 to 59, with nine companies unchanged.
The biggest decliner was Research Solutions of Encino. Shares fell 19 percent to $1.10 as investors remained unimpressed with the document-finding company’s plans to execute a reverse stock split to boost its share price and gain eligibility for a listing on the Nasdaq.
Among the biggest gainers was Manhattan Beach shoe company Skechers USA Inc. Shares rose 14 percent to $40.05 as the company announced better-than-expected first quarter earnings.