Green Dot, Mattel Among Week’s Biggest MoversFriday, January 31, 2014
The Los Angeles Business Journal’s index of largest local public companies closed lower for the week.
The weighted LABJ Stock Index dropped 2.5 percent to 178 for the trading week ended Jan. 31. Decliners outpaced gainers 96 to 58, with seven companies unchanged.
The biggest loser was Monrovia prepaid debit card provider Green Dot Corp. Shares fell 12 percent to $22.55 as the company missed Wall Street expectations for the fourth quarter and full fiscal year, citing higher costs.
Also losing was El Segundo toy maker Mattel Inc. Shares dropped 12 percent to $37.84 as that company also missed Wall Street expectations for its fourth quarter due to disappointing sales for its Barbie dolls and other toys during the holiday season.
The biggest gainer was Pasadena pharmaceutical company Arrowhead Research Corp. Shares jumped 31 percent on continuing enthusiasm following positive preclinical results for its hepatitis B treatment, ARC-520.
Also gaining was Calabasas real estate brokerage Marcus & Millichap. Shares were up 12 percent to $16.67 as the company announced it arranged the sale of two multifamily properties near Chicago.