The Week’s Big MoversFriday, February 10, 2012
The Los Angeles Business Journal’s index of largest local public companies made strong gains for a second straight week despite mixed earnings reports.
The weighted LABJ Stock Index closed up 1.73 percent to 129.72 for the week ended Feb. 10. Gainers outpaced decliners 87 to 76, with nine companies unchanged.
The top gainer was Guidance Software Inc., which soared 37 percent to $10.77. The Pasadena developer of digital forensics and e-discovery software swung to a profit in the fourth quarter, announced an acquisition and received an analyst’s upgrade.
Lions Gate Entertainment Corp. gained 14 percent to $11.82. The Santa Monica film studio reported lower fiscal third quarter revenue because of no major releases, but investors responded to upbeat prospects for upcoming releases.
Among the biggest decliners was True Religion Apparel Inc., which dropped 26.5 percent to $26.61. The Los Angeles premium denim company reported disappointing fourth quarter earnings and gave weak full-year guidance, prompting at least two analysts to downgrade the stock.
People’s Liberation Inc. fell 24 percent to 35 cents. The Los Angeles apparel company said it will change its name and business model in conjunction with a $14.5 million infusion from a private equity firm.
THQ Inc. fell nearly 24 percent to 58 cents. The Agoura Hills video game publisher, which has been scaling back less profitable operations, was hurt by reports that the industry suffered slow U.S. game sales in January.