The Los Angeles Business Journal’s index of the largest local public companies closed up for the week ended April 9. Investors in the overall markets were heartened by new signs that the economy continues to recover.
The weighted LABJ index closed up 1 percent to 119.58, with gainers outpacing decliners 122 to 56.
Response Genetics Inc., a Los Angeles maker of test kits used in cancer treatment, was the top local gainer, soaring more than 65 percent to $2.35 after reporting strong quarterly earnings.
Maguire Properties Inc. ended the week up 34 percent to $4.13. Shares of the Los Angeles real estate investment trust have fluctuated since its founder and former chief executive, Robert Maguire, offered to take over three prominent Los Angeles-area office buildings that he is concerned could wind up in default. The REIT’s board so far has not voted on the offer.
California Pizza Kitchen Inc. shares jumped 23.5 percent to $20.74 after a news report, citing unnamed sources, said that the Century City restaurant chain is shopping itself to potential buyers.
K-Swiss Inc. rose 26 percent to $26.44 on an analyst’s upgrade and an announcement by the Westlake Village athletic shoe maker that it had signed a global multi-year endorsement deal with “Biggest Loser” TV fitness trainer Jillian Michaels.
Among decliners, Aerovironment Inc. fell 5.6 percent to $24.64 after the Monrovia manufacturer of unmanned aerial vehicles announced the resignation of its chief financial officer.