The Week’s Big MoversFriday, February 3, 2012
The Los Angeles Business Journal’s index of largest local public companies rose sharply for the week as investors reacted to a better-than-expected national jobs report on Friday.
The weighted LABJ Stock Index closed up 2.35 percent to 130.06 for the week ended Feb. 3. Gainers outpaced decliners 121 to 42, with nine companies unchanged.
Among the top gainers was RealD Inc., which jumped 37 percent to $12.23. The Beverly Hills licensor of 3D technologies for theaters said it moved to a fiscal third quarter profit on lower costs.
Ixia rose 21 percent to $14.55. The Calabasas maker of computer networking products reported better-than-expected fourth quarter profit and revenue.
Preferred Bank rose 15 percent to $9.23. The Los Angeles Chinese-American bank also reported a profitable fourth quarter.
The largest decliner was MannKind Inc., which was last week’s biggest gainer. The Valencia biotech dropped 36 percent to $2.17 after announcing plans to raise capital through debt and stock offerings.
THQ Inc. fell 25 percent to 53 cents. The Agoura Hills video game company cut its annual earnings forecast and gave guidance that it would become a much smaller video game company with half the volume of sales next year.
American Apparel Inc. fell 11 percent to 73 cents. The cash-strapped Los Angeles apparel manufacturer and retailer was hurt by media speculation that much of its December sales gain was driven by heavy promotions.