Los Angeles Business Journal

Rubicon, Green Dot Among Week’s Big Movers

Friday, August 1, 2014

The LABJ Stock Index fell nearly 4 percent in the trading week that ended Friday to close at 196. Losers outpaced gainers by 120 to 36 with eight companies unchanged.

Rubicon Project was the week’s biggest gainer. Shares of the Playa Vista tech company rose 19 percent through the week to close at $11.92. Rubicon Project, which runs an automated online advertising marketplace, on Tuesday reported that its quarterly revenue rose 49 percent to $28.3 million for the three months ending June 30. The company reported a loss of $9.4 million (29 cents a share), but Analysts had predicted a deeper loss of nearly 61 cents a share.

Green Dot Corp. was another big mover. Shares of the Pasadena prepaid debit card company rose 15 percent to close at $19.70 on Friday.

Green Dot reported an adjusted quarterly net income of $18.7 million (41 cents a share) for the quarter ending June 30, up 27 percent from last year. Revenue rose 5 percent to $147 million. The company’s earnings exceeded forecasts of about 26 cents a share.

On Assignment Inc. was the week’s biggest loser. Shares dropped 23 percent to close at $26.80. The Calabasas staffing firm’s earnings were below expectations.