The Los Angeles Business Journal’s index of largest local public companies closed down for the week, as worries about private-sector hiring trends triggered a late-week decline.
The weighted LABJ Stock Index closed down 3.4 percent to 127.94 for the week ended May 4. Decliners outpaced gainers 108 to 58, with 9 companies unchanged.
Much of the movement was related to quarterly earnings reports. Among the largest decliners was Herbalife Ltd., sliding 35 percent to $46.94. Despite reporting a record first quarter, shares of the Los Angeles nutritional supplement marketing company fell after an investor questioned the company’s disclosure practices during a conference call.
ValueClick Inc. fell 20.9 percent to $16.69. The Westlake Village Internet-advertising company forecast second-quarter revenue that fell below analysts’ estimates.
K-Swiss Inc. dropped 18 percent to $18.04. The Westlake Village shoemaker reported a smaller first-quarter loss, but provided a full-year sales projection below the Wall Street consensus.
Among the biggest gainers was Demand Media Inc., which jumped nearly 20 percent to $8.36. The Santa Monica operators of specialty information web sites benefited from an analyst’s upgrade.
U.S. Auto Parts Network Inc. rose 17 percent to $3.71. Shares rose in advance of the Carson retailer of automotive aftermarket parts’ scheduled first quarter report on Tuesday.
Physicians Formula Holdings Inc. rose 16 percent to $3.79. The Azuza cosmetics company reported first-quarter profit that significantly beat analysts’ expectations, and raised its full-year guidance.