The Week’s Big MoversFriday, March 2, 2012
The Los Angeles Business Journal’s index of largest local public companies closed up marginally for the week as the market pulled back over uncertainty about Europe and the Middle East.
The weighted LABJ Stock Index rose 0.27 percent to 130.85 for the week ended March 2. Decliners outpaced gainers 101 to 64, with six companies unchanged.
Ceres Inc. joined the LABJ Index this week, closing down 7.5 percent to $13.95. The Thousand Oaks agricultural biotech began trading on the Nasdaq last week after a long delayed initial public offering that raised about $65 million.
Among the largest decliners again was CyberDefender Corp., which lost 25 percent to close at 6 cents after plunging 71 percent last week. The Los Angeles provider of computer security software plans to sell most of its assets to a unit of Guthy-Renker Corp. as part of a prepackaged Chapter 11 reorganization.
U.S. Auto Parts Network Inc. sank nearly 19 percent to $4. The Carson online supplier of aftermarket auto parts reported a larger fourth quarter loss and an analyst downgraded shares.
THQ Inc. fell nearly 17 percent to 50 cents. The Agoura Hills video game publisher last month cut its annual earnings forecast and said it would continue to scale back less profitable operations.
Big 5 Sporting Goods Corp. dropped 16 percent to $7.51. The El Segundo sporting goods chain said it moved to a loss in the fourth quarter, hurt by warm weather that was lowering sales of winter products.
Live Nation Entertainment Inc. lost 11 percent to $9.38. The Beverly Hills concert and artist promoter narrowed its net loss for the fourth quarter as its Ticketmaster unit benefited from increased online sales.
Among the biggest gainers was Joe's Jeans Inc., which jumped 44 percent to 91 cents. The Commerce maker of denim apparel reported a better-than-expected fourth quarter and announced the launch of a new line to be sold exclusively at Macy's department stores.
K-Swiss Inc. rose 19.6 percent to $3.44. The Westlake Village casual shoe maker bounced back after falling last week following a disappointing fourth quarter financial report.