Strong earnings lead to an unexpected drop in shares while the subprime mortgage mess continued to beat up on two local lenders. Those on the rise were fueled by a sale and an upgrade.

AeroVironment Inc. reported huge gains in profit and sales but its shares lost 7 percent for the week to close at $20.61. There was no apparent reason why shares in the Monrovia aerial drone maker shares dipped.

Fremont General corp. and IndyMac Inc. lost 10 percent and 7 percent, respectively, due to investors being spooked by the Bear Sterns hedge fund collapse. Santa monica-based Fremont closed the week at $10.76 while Pasadena-based IndyMac closed the week out at $29.17.

It was all upside for Westlake Village-based retailer Guitar Centers Inc. The music equipment seller was acquired and shares shot up as much as 20 percent. Shares in guitar Center gained 17 percent for the week to $59.81.

Shares in electronic components maker Diodes Inc. also got a boost thanks to an upgrade from an analysts, closing the week up 5 percent to $41.77.