Reading International, Demand Media Among Week’s Biggest MoversFriday, May 16, 2014
Gainers outpaced decliners 94 to 63 on th Los Angeles Business Journal’s index of largest local public companies for the week ending Friday.
The weighted LABJ Stock Index was unchanged at 188 for the week.
The biggest gainer was Reading International Inc. Shares rose 17 percent to $7.19 as the L.A. movie theater operator announced that it sold 51 acres of land in Australia. It also announced a stock buyback.
The next biggest gainer was Marcus & Millichap. Shares rose 16 percent to $18.24 after the Calabasas real estate brokerage firm reported strong earnings.
Research Solutions fell 8 percent to $1.25 after the Encino document-finding service reported lower revenue and a wider first quarter net loss than in the same period a year ago.
Demand Media Inc. fell 6 percent to $3.83 after the Santa Monica Web content publisher missed revenue forecasts in its most recent earnings.