The Los Angeles Business Journal’s weighted index of the largest local public companies closed up for the week ended Sept. 24 as a reported rise in capital spending buoyed investors distressed about lackluster home sales.
The LABJ index gained 1 percent to 115.76, with gainers outpacing decliners 118 to 57.
Among the largest movers was El Segundo’s media firm Internet Brands Inc., which soared 43 percent to $13.16 after announcing it was being acquired by a private equity firm for $640 million.
ValueClick Inc., an online advertising company in Westlake Village, gained 13 percent to $13.82 after an analyst’s upgrade.
PC Mall Inc. rose 38 percent to $6.42 after the Torrance online provider of computer and other technology products held its annual shareholders’ meeting.
General Finance Corp. gained 14 percent to $1.22 after the Pasadena provider of portable storage and freight containers said it had improved pro-forma results in its fiscal fourth quarter, despite having to report a GAAP net loss for the period.
Among the largest decliners was National Technical Systems Inc., a Calabasas technology engineering firm whose directors approved a “poison pill” shareholder rights plan to discourage unfriendly takeover attempts. Shares fell 7 percent to $6.98.
Camarillo religious and family broadcaster Salem Communications Corp. fell 4.8 percent to $22.11 after announcing that its Salem Web Network division had acquired Samaritan Fundraising, a company that helps church-based groups and organizations raise money.
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