After eking out a small gain last week, the Los Angeles Business Journal's index of the 200 largest public companies dipped slightly this week, losing 0.38 percent. In all, 120 of the companies lost ground or stayed flat.
Dropping 12 percent for the week was Westlake Village-based shoe an apparel retailer K-Swiss Inc. The retailer saw shares dip due to a downgrade from investment firm Brean Murray, which came ahead of the company's fourth quarter earnings scheduled to be released Feb. 26. Shares closed the week at $16.73.
Online postage retailer Stamps.com Inc. also dropped 12 percent after the Los Angeles-based company reported poor earnings at the end of last week. Shares closed at $8.64 hitting a 52-week low of $8.47 during trading Friday.
Finally, Pasadena-based lender IndyMac Bancorp dropped 11 percent after the Mortgage Bankers Association reported mortgage volume plunged for the previous week. Shares closed the week at $7.15. However, the stock price of the lender is up 20 percent for the year.
On the upswing was denim retailer Joes Jeans Inc., which saw shares surge 32 percent to $1.07 ahead of the City of Commerce-based company's fourth quarter earnings, which are expected to be announced Feb. 28.
Malibu-based toy maker Jakks Pacific Inc. gained 13 percent after the company reported surprisingly good fourth quarter earnings. Shares closed at $27.50.
Finally, Torrance-based alternative power equipment maker Enova Systems Inc. added 11 percent after the company announced a contract from a Danish environmentally friendly vehicle maker. Shares closed at $4.
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