This week’s stock performers: The best and the worst locally
Biggest gainer: American Pacific Corp.
During a week that saw the Standard & Poor’s 500 Index fall 2.2 percent, just a few local stocks posted gains including Wynn Resorts Ltd., which was up 2 cents from its Oct. 5 close; and Allegiant Travel Co., up 1.9 percent. The biggest gainer was chemical maker American Pacific Corp., which closed the week at $12.42, up 2 percent. Analyst commentary on the company this week focused on insiders buying more stock. In the quarter ended June 30, American Pacific posted revenue of $57.6 million, up from $41.8 million in the year-ago quarter. It earned $4.7 million or 61 cents per share, a turnaround from the 2011 quarter when it lost $6.2 million or 82 cents per share.
Biggest loser: Galaxy Gaming Inc.
The penny stock company's shares fell 7 cents to 18 cents per share, a decline of 28 percent. Galaxy Gaming Inc., a casino supplier, was sued by Bank of America over allegations it was involved in a "fraudulent transfer" of assets from predecessor company Galaxy Gaming LLC.
Galaxy Gaming hasn't commented on those allegations. It did disclose Friday that Richard Baldwin had resigned as an independent director of the company effective Oct. 8. Galaxy noted that Baldwin had accepted a position with Union Gaming Group as the managing director for the firm’s analytics business and elected to resign from the Galaxy Gaming board to avoid any potential conflicts of interest in this new role.