The Los Angeles Business Journal’s index of the 200 largest local public companies closed up for the week ended March 13, as investors began feeling more confident that markets will continue to recover.
The weighted LABJ index rose nearly 11 percent to 78.50 Friday compared to a week ago, with gainers outpacing decliners 132 to 51.
En Pointe Technologies Inc. soared 146 percent to $2.19 after the Gardena business-to-business software firm said it has agreed to be acquired by a company owned by its founder and chief executive.
American Apparel Inc. jumped 54 percent after announcing it received around $80 million in financing from a British private equity firm, enabling L.A. apparel maker to pay off debts that were soon to come through.
MannKind Corp. rose 42 percent after the Valencia developer of an inhaled insulin treatment said it plans to buy Pfizer Inc.’s insulin factory in Germany and related assets for about $33 million, much of which could be paid in stock.
Among the decliners was Monrovia drone aircraft maker Aerovironment Inc., which dropped 36 percent after reducing its guidance for 2009.