The Week’s Big MoversFriday, February 17, 2012
The Los Angeles Business Journal’s index of largest local public companies gained slightly for the week as investors awaited a decision on Greece’s bailout plan.
The weighted LABJ Stock Index closed up 0.89 percent to 130.88 for the week ended Feb. 17. Gainers outpaced decliners 88 to 74, with 10 companies unchanged.
One of the top gainers was Simulations Plus Inc., soaring 31.4 percent to $4.10. Directors of the Lancaster pharmaceutical software company voted to distribute a cash dividend.
Demand Media Inc. jumped nearly 30 percent to $7.76. The Santa Monica online content publisher reported better-than-expected fourth-quarter earnings and provided an upbeat outlook for this year.
On Assignment Inc. rose 16 percent to $13.80. The Calabasas health care and technology staffing firm also reported fourth-quarter profit that beat analysts’ expectations and gave better-than-expected guidance.
Among the biggest decliners was True Religion Apparel Inc., which slid nearly 27 percent to $26.88. The Vernon premium denim maker reported lower-than-expected quarterly profit.
ReachLocal Inc. dropped nearly 10 percent to $15.21. The Woodland Hills Internet marketing company reported better than expected fourth quarter profit but provided guidance below expectations.
K-Swiss Inc. fell 8.5 percent to $3.35. The Westlake Village casual shoe maker reported a wider fourth-quarter loss and gave a cautious revenue forecast.