Radnet, ReachLocal Among Week’s Biggest MoversFriday, May 9, 2014
The Los Angeles Business Journal’s index of largest local public companies closed higher for the trading week.
The weighted LABJ Stock Index closed up 1.5 percent to 189.69 for the trading week ended May 9. Decliners outnumbered gainers 99 to 56, with six companies unchanged.
The biggest gainer was Radnet Inc., jumping 36 percent to $6.48. The Los Angeles operators of medical imaging centers reported a better-than-expected first quarter and its stock was upgraded by an analyst.
Cadiz Inc. rose 38 percent to $7.91. The downtown Los Angeles land and water resource development company benefitted from a favorable court ruling on its desert water project.
The biggest decliner was ReachLocal Inc., plunging 33 percent to $6.78. The Woodland Hills online advertising company reported a worse-than-expected first quarter and was downgraded by an analyst.
Capstone Turbine Corp. fell 25 percent to $1.33. The Chatsworth micro-turbine company reported a worse-than-expected fiscal fourth quarter.