The Los Angeles Business Journal’s index of the largest local public companies fell for the week. The weighted LABJ index fell around 1 percent to close at 224 with gainers outpacing losers 78 to 69. Ten companies closed the week unchanged.
Los Angeles-based supplement seller Herbalife Ltd. had a good week, as shares rose 10 percent to close at $36. The Federal Bureau of Investigation and federal prosecutors are investigating people hired by hedge fund manager William Ackman, who has been campaigning against the company, to find out if Herbalife stock has possibly been manipulated.
Santa Monica’s Macerich Co. saw its shares rise 9 percent to close the week at $94 after Indianapolis mall operator Simon Property Group offered to buy the company for $14.4 billion.
Sylmar-based Second Sight Medical Products Inc., a maker of an artificial retina for blind patients, was one of the week’s leading losers. Shares fell 18 percent to close the week at $14.28 after the company announced it had a net loss of $13.6 million in the fourth quarter of last year on revenue of just $1.5 million.
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