LA Biz Observed
 
Bio • Email • Archive
Follow Mark on Twitter • 
Hear Mark Lacter on KPCC
 

There's nothing like a steep drop in oil prices and a strong showing by McDonald's to get Wall Street excited. The Dow was up 101 points today, or 0.89 percent. But a bunch of Los Angeles-area companies did far better on a percentage basis, with several up four, five and even six percent (that's very unusual for the Socal stocks). There's not much secret to their success - if gas prices drop, it frees up more spending money for consumers. And consumer spending makes up 70 percent of the economy. Actually, one of the few local issues to fall today - though not by much - was L.A.-based Occidental Petroleum - no doubt influenced by oil prices that are under $64 a barrel. For many others, though, today was a good day.

Activision +5.14%
Cheesecake Factory +6.33%
Countrywide Financial +4.24% (this one probably related to news that Angelo Mozilo will stay on as CEO).
California Pizza Kitchen +4.39%
Gemstar +5.68%
Guess +4.63%
Hot Topic +5.51%
KB Home +6.84%
99 Cents +5.93%
CB Richard Ellis +5.58%

> | More
© 2003-2010   •  About LA Observed  •  Email the editor
Follow LAO
Kevin Roderick blog
10:15 PM Sat | Marathon organizers are advising runners to get out early Sunday since getting to Dodger Stadium could prove difficult: "ARRIVE EARLY! We suggest you be there by 5:30am.," says an official tweet. Plus street closures, bus changes and more.
8:54 PM Sat | The Hump shuts its doors
Mark Lacter, LA Biz Observed
2:26 PM Fri | You might recall his being sent off for secretly paying clients to pursue shareholder lawsuits.
Sponsors
Jewish Journal logo
California Wellness Foundation
For information on becoming a sponsor, email the editor.
Sign up for email

Enter your email address:

Delivered by FeedBurner


Blogads Los Angeles network

Get RSS Feeds
of LA Observed
LA Observed publishes several Real Simple Syndication feeds for easy scanning of headlines. If you wish to subscribe to a feed, most popular RSS readers will do it for you. You can also enter the web address from the XML button below or click on a specific feed. For more help with RSS, try here or here.




Add to Google