The Week’s Big MoversFriday, February 24, 2012
The Los Angeles Business Journal’s index of local public companies closed down slightly for the week as local companies reported mixed quarterly financial reports.
The weighted LABJ Stock Index closed down 0.29 percent to 130.50 for the week ended Feb. 24. Decliners outpaced gainers 92 to 74, with 6 companies unchanged.
The biggest decliner was CyberDefender Corp., which plunged 71 percent to 5 cents. The Los Angeles provider of computer security software filed for Chapter 11 bankruptcy protection and said it plans to sell most of its assets to a unit of infomercial marketer Guthy-Renker Corp.
Sport Chalet Inc. dropped 16 percent to $1.81. The La Canada Flintridge sporting goods chain, which earlier this month reported a larger fourth quarter loss, was hurt by reports that warm weather was depressing winter sales in certain markets.
K-Swiss Inc. fell 13 percent to $3.25. The Westlake Village casual shoe maker reported a larger fourth-quarter loss and provided a cautious revenue forecast.
The Ryland Group closed down nearly 9 percent to $18.11. The Calabasas homebuilder was downgraded by an analyst and new U.S. housing figures from the National Association of Realtors that came in below economists’ expectations.
Among the largest gainers continued to be Demand Media Inc., which went up 14 percent to $6.80 after it jumped nearly 30 percent the previous week. The Santa Monica online content publisher reported better-than-expected fourth-quarter earnings and provided an upbeat outlook for this year.
Herbalife Ltd. rose nearly 11 percent to $66.45. The Los Angeles nutritional supplements company reported better-than-expected quarterly reports and upgraded its guidance.