The Los Angeles Business Journal’s index of the largest local public companies closed up for the week ended Sept. 6 as markets rallied on an improved jobs report.
The weighted LABJ index closed up 1.8 percent to 117.99, with gainers outpacing decliners 137 to 37.
Among the top gainers was Cogent Inc., a Pasadena security systems company, which announced that it was being acquired by 3M for more than $900 million. Shares jumped 25 percent to $11.01.
DineEquity Inc., the Glendale parent of the IHOP and Applebee’s chains, gained 20 percent to $38.77, as the restaurant industry reacted to news that Burger King Holdings Inc. was being acquired by a private investment firm for $3.3 billion.
KB Home rose 17 percent to $11.92 after the Los Angeles homebuilder said that the Securities and Exchange Commission had completed its investigation into potential accounting and disclosure violations and would not recommend any enforcement action.
Motorcar Parts of America Inc. ended the week up 16 percent to $9.04. The Torrance online retailer of refurbished car alternators and starters said it invested $1.9 million in Fenwick Automotive Products, a manufacturer of steering, brake and clutch components.
Among the largest decliners was Ever-Glory International Group Inc., a Chinese apparel maker based in West Covina. Shares fell 7.8 percent to $3.90 after the company said its chief financial officer was resigning for personal reasons, but that a replacement had been appointed.