The Los Angeles Business Journal’s index of the 200 largest local public companies rose for the week ended Sept. 4 when a light week of pre-holiday trading was boosted by a government report showing job losses slowed in August.
The weighted LABJ index closed up 1.9 percent to 102.75, with gainers outpacing decliners 99 to 75.
DreamWorks Animation SKG Inc. rose 8 percent to $34.27 after news of Walt Disney Co’s acquisition of Marvel Entertainment Inc. fueled takeover speculation about the Glendale animation studio.
UTi Worldwide Inc. closed up 6.5 percent to $13.62, despite lower-than-expected second quarter earnings after the Long Beach logistics company said the economic environment for its industry appears more stable.
United Online Inc. added 4 percent to $7.32. The Woodland Hills online services provider said that its FTD.com subsidiary had signed a multi-year agreement with the United Services Automobile Association to be the exclusive floral provider to the association’s 7.2 million members.
Among the decliners was health care real estate investment trust HCP Inc., which declined 9 percent to $26.64. The Long Beach company said a Kentucky jury awarded Ventas Inc. approximately $101 million in compensatory damages. Ventas had sued HCP for interfering with its 2007 acquisition of Sunrise Senior Living REIT.
Macerich Co. fell 8 percent to $26.18. Its operating partnership announced a joint venture that involves a private equity firm taking over majority ownership of one of the Santa Monica real estate investment trust’s Colorado shopping centers.