Activision, Big 5 Among Week’s Biggest MoversFriday, August 2, 2013
The Los Angeles Business Journal’s index of largest local public companies closed up for the week.
The weighted LABJ Stock Index rose less than 1 percent to 170.22 for the trading week ended Aug. 2. Gainers outpaced decliners 86 to 71, with seven companies unchanged.
Among the biggest gainers was Activision Blizzard Inc. which jumped 19 percent to $18.08 after the Santa Monica video game developer announced a deal with majority shareholder Vivendi to buy out most of its shares.
Other significant movers were tied to second-quarter financial reports and guidance. Santa Monica Spanish-language TV and radio station owner Entravision Communications Corp. gained 15 percent to $6.52. Monrovia eye products maker Staar Surgical Co. rose 14 percent to $12.32. Monrovia prepaid debit card provider Green Dot Corp. added 13 percent to $23.59.
Among the largest decliners related to worse-than-expected results was Los Angeles retailer Big 5 Sporting Goods Corp., dropping 19 percent to $20.07. Westlake Village online advertising agency ValueClick Inc. fell more than 12 percent to $21.37.