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Am I crazy or is Wall Street beginning to resemble a Fellini movie? Here we are trying to make sense of one crazy scene after another and just when it seems as if the puzzle parts are coming together there's suddenly this interplay between an elephant and a midget and we're back to being totally lost. Today's 890-point climb was that elephant and midget moment. On a day when the Consumer Confidence index plunged to its lowest level on record in October and general gloom permeated the markets, who would have imagined a company like L.A.-based Maguire Properties climbing 38.3 percent? The bad news, of course, is that Maguire is now trading at $4.15 a share, which is a shade lower than its 52-week high of $30.73. Watch those percentages, class! With that in mind, a quick summary of local issues and their percentage gains:
Activision 12.4%
Amgen 9.6%
Disney 11.9%
Guess 18.3%
Hot Topic 17.7%
KB Home 8.5%
99 Cents Only 12.2%
Northrop 9.7%
Oxy 18.1%
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.