Reed’s, Motorcar Parts of America Among Week’s Big MoversFriday, August 15, 2014
The Los Angeles Business Journal’s index of the area’s largest public companies rose for the week.
The weighted LABJ Stock Index went up 3 percent to close at 202. Gainers outpaced laggers by 106 to 50 with eight companies unchanged.
Soft drink company Reed’s Inc. of Los Angeles was among the week’s leading gainers. The company’s shares rose 29 percent to end the week at $6.54 on strong earnings driven by increased sales.
Motorcar Parts of America also had a strong week. Shares rose 21 percent to close $28.18 on Friday. The Torrance manufacturer of aftermarket auto parts also reported strong quarterly earnings.
Capstone Turbine of Chatsworth was among the week’s losing stocks. Shares fell 18 percent to close at $1.16 after the company reported that revenue have fell 5 percent in its most recent quarter. The company’s loss was deeper than analysts had expected.