Tri-county stocks up amid market rally
Stocks rebounded sharply Mar. 2 on the Central Coast, mirroring the S&P 500, which jumped nearly 4 percent.
The most impactful moves were among the mid- and large-cap stocks that make up the majority of publicly traded wealth for tri-county companies. They included Thousand Oaks-based Amgen, up 6.14 percent, and Teledyne Technologies, up 2.54 percent, as well as Westlake Village-based PennyMac Financial Services, up 1.63 percent.
Several other public stocks tracked by the Business Times saw a steady 1-5 percent increase over the day, following steep declines the prior week as rising concerns over the global health crisis related to the coronavirus outbreak triggered widespread selloffs.
Two notable exceptions were The Trade Desk, down 3.55 percent and Calavo Growers down 15.3 percent amid the announcement of several executive changes.
In a filing with the Securities and Exchange Commission, Calavo said Chief Financial Officer, John Lindeman, and Chief Accounting Officer, James Snyder will both be resigning and taking jobs elsewhere. Shares for AppFolio also declined 3.8 percent in after-hours trading, following the announcement that co-founder and chief strategist Klaus Schauser plans to retire in May.
- Contact Cage Englander at intern@pacbiztimes.com.
