The Los Angeles Business Journal’s index of largest local public companies gained for the week on positive corporate earnings and news that the U.S. trade deficit narrowed.
The weighted LABJ Stock Index closed up 1.5 percent to 146.93 for the trading week ending Feb. 8. Gainers outpaced decliners 108 to 54, with eight companies unchanged.
Earnings reports and guidance fueled many of the biggest local movers.
Santa Monica video game publisher Activision Blizzard Inc. rose nearly 18 percent to $13.41 after exceeding Wall Street forecasts for its fourth quarter profit and revenue. Aecom Technology Corp., a Los Angeles provider of professional and technical services, rose 13 percent to $28.84. Los Angeles commercial real estate services provider CBRE Group Inc. gained 12 percent to $24.18.
True Religion Apparel Inc. rose 17 percent to $27.71 following an analyst’s report that the Vernon denim maker was negotiating a sale of the company.
Reliance Steel & Aluminum Co. added 10 percent to $71.44 after the Los Angeles metals service center operator announced the $766 million acquisition of a competitor, the biggest such deal in the company’s history.
Among the biggest decliners was Guidance Software Inc., which ended the week down 25 percent to $9.59 after the Pasadena developer of forensic analysis software reported lower fourth quarter earnings.
Calabasas homebuilder Ryland Group Inc. fell 7 percent to $36.99 after an analyst downgraded shares.
DreamWorks Animation SKG Inc. ended the week down 6 percent to $16.30 after the Glendale animation studio reported disappointing quarterly earnings and it shelved a film.