Jakks, Joe’s Among Week’s Biggest MoversFriday, July 19, 2013
The Los Angeles Business Journal’s index of largest local public companies saw gains for the second week in a row, with shares of most companies on the list rising.
The weighted LABJ Stock Index rose 1 percent to 169.54 for the trading week ended July 19. Gainers outpaced decliners 101 to 55, with 8 companies unchanged.
Among the gainers was Arden Group Inc., up 14 percent to $130.21. The parent company of the Gelson’s Market supermarket chain announced it was considering a potential sale of itself.
Response Genetics Inc. gained 13 percent to $1.79. The Los Angeles biotech testing company said it had renewed an agreement with a large customer.
The biggest decliner was Jakks Pacific Inc., plummeting 41 percent to $6.67. The Malibu toymaker reported a second quarter loss on lower sales, cut its full-year forecast and announced plans to cut jobs.
Joe’s Jeans Inc. fell 24 percent to $1.32. The Commerce apparel company reported lower than expected earnings and announced it would acquire Hudson Clothing Holdings Inc., another Commerce apparel company, for $97.6 million.