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.