78.5 F
San Fernando
Friday, Aug 19, 2022
-Advertisement-

Market Downturn Moves Valley Stocks Lower

Share prices for large-cap companies in the Valley region moved lower as the Dow Jones Industrial Average dropped 1.8 percent Monday. Walt Disney Co. in Burbank, the Valley company with the largest capitalization, fell 2.5 percent to $125.41, while Amgen Inc. in Thousand Oaks, the second largest company, fell 1.8 percent to close at $243.19. The losses were distributed widely in terms of sector and size. Media companies fell harder than most, with Salem Media Group Inc. in Camarillo losing 6.6 percent of its value and Cinedigm Corp. in Encino declining 6.7 percent. But even food producer Limoneira Co. in Santa Paula decreased by 6.7 percent. Other decliners were restaurateurs Cheesecake Factory Inc. in Calabasas and Dine Brands Global Inc. in Glendale dropping 5 percent and 5.6 percent, respectively. Financial institution Mission Valley Bancorp in Sun Valley lost 5.9 percent. The biggest loser in percentage terms was construction firm Tutor Perini Corp. in Sylmar, down 11.2 percent.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-