RSS FeedThis Week's Big Movers
The Los Angeles Business Journal’s index of the largest local public companies closed up for the week ended July 23 as investors reacted to reassuring news about the economy and some good earnings reports.
The weighted LABJ index closed up 1.7 percent to 116.61, with gainers outpacing decliners 96 to 77.
Among the biggest gainers was Reliance Steel & Aluminum Co., which rose 10 percent to $40.66 after the Los Angeles metals processor swung from a loss to a profit in the second quarter.
Reading International Inc. gained 8.6 percent to $$4.40 after the Commerce real estate company announced that a subsidiary had settled an outstanding tax issue with the Internal Revenue Service.
DineEquity Inc. gained 8 percent to $37.61 after the Glendale operator of the Applebee’s and IHOP restaurants said it sold 63 company-operated restaurants to its largest franchisee in order to reduce its debt.
Among the worse decliners was VCA Antech Inc., which fell 15 percent to $20.75 after the Los Angeles owner of veterinary hospitals and laboratories reported lower-than-expected second quarter net income and cut its full-year outlook.
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