The Week’s Biggest MoversFriday, January 18, 2013
The Los Angeles Business Journal’s index of largest local public companies was nearly flat for the week, as investors reacted to mixed fourth-quarter earnings.
The weighted LABJ Stock Index ended the trading week of Jan. 18 up less than one-half percent to 140.43. Gainers outpaced decliners 95 to 67, with nine companies unchanged.
The biggest mover was K-Swiss Inc., jumping 50 percent to $4.71. The Westlake Village sports brand agreed to be acquired by South Korean retailer E. Land World for $170 million.
L.A. brand licensing company Sequential Brands Group Inc. rose 17 percent to $6.01 and Los Angeles apparel company American Apparel Inc. gained 15 percent to $1.30. Both companies made well-received presentations at the same investor conference earlier in the week.
Herbalife Ltd. rose nearly 11 percent to $43.50. The L.A. nutritional supplement company announced preliminary fourth-quarter net income that topped analysts’ estimates and said it would resume buying back shares.
One of the largest decliners was Power-One Inc., falling 9 percent to $3.79. The Camarillo maker of the solar power equipment forecast a fourth-quarter loss and cut its revenue forecast.
Amgen Inc. fell 6.5 percent to $82.09. The Thousand Oaks biotech reported that its Aranesp anemia treatment didn’t help patients with heart problems.