The Week’s Big MoversFriday, April 20, 2012
The Los Angeles Business Journal’s index of largest local public companies closed up for the week, as the markets reacted to positive earnings reports.
The weighted LABJ Stock Index closed up 1.22 percent to 128.45 for the week ended April 20. Gainers outpaced decliners 84 to 81, with 10 companies unchanged.
The biggest gainer was THQ Inc., which soared more than 55 percent to 75 cents. The struggling Agoura Hills video game developer said it expects to report a smaller-than-expected loss for its fourth quarter.
Capstone Turbine Corp. gained 16 percent to $1.15. Shares of the Chatsworth maker of micro turbines benefited from upbeat comments made Thursday by Chief Executive Darren Jamison on the CNBC cable network.
Reed’s Inc. rose 13 percent to $2.21. The Los Angeles beverage maker announced new distribution agreements in Utah and Tennessee.
Skechers USA Inc. gained 11 percent to $14.74. The Manhattan Beach shoemaker received favorable press in advance of its first quarter earnings report next Wednesday.
Among the largest decliners was Motorcar Parts of America, which dropped 16.5 percent to $8.17. The Torrance maker of aftermarket automotive alternators and starters announced at $15 million private placement of stock.
Guidance Software Inc. fell 14 percent to $9.29. The Pasadena developer of digital forensics software said that it had registered $8.63 million shares of common stock so that shareholders who had received the shares in connection with an acquisition could sell them on the open market.
Ceres Inc. fell 13 percent to $14.76. The Thousand Oaks developer of specialty crops for the biofuels industry reported a net loss in the first quarter.
Dole Food Co. lost 12 percent to $8.57. The Westlake Village fresh fruit and vegetable company said its fresh vegetables division recalled 756 cases of bagged salad because they could be contaminated with salmonella.