The Week’s Big MoversFriday, January 4, 2013
The Los Angeles Business Journal’s index of largest local public companies gained for the week, as the broader markets reacted to passage of federal “fiscal cliff” legislation.
The weighted LABJ Stock Index rose nearly 4 percent to close at 139.88 for the week ended Jan.4. Gainers outpaced decliners 130 to 27, with eight companies unchanged.
Among the biggest movers was Herbalife Ltd., rising 31 percent to $37. Shares of the Los Angeles weight loss and nutritional supplement maker began recovering from attacks by a noted hedge fund trader who was shorting the stock.
On Assignment Inc. rose 15 percent to $22.63. The Calabasas staffing company was among several executive search firms whose stock was boosted by Friday’s jobs report.
American Apparel Inc. of Los Angeles and Hot Topic Inc. of Vernon rose 15 percent and 13 percent respectively. The apparel companies benefitted from reports of better-than-expected holiday sales.
Among the biggest decliners was Dole Food Co. Inc., which fell 13 percent to $9.83. An analyst downgraded shares of the Westlake fruit and vegetable grower and packager after the company said profit from its fruit unit was declining.
THQ Inc. fell 7 percent to 29 cents. The Agoura Hills video game developer is facing opposition to its Chapter 11 bankruptcy plan from a group of unsecured note holders and from the U.S. Trustee.