Los Angeles Business Journal

The Week’s Biggest Movers

By Deborah Crowe Friday, January 18, 2013

The Los Angeles Business Journal’s index of largest local public companies was nearly flat for the week, as investors reacted to mixed fourth-quarter earnings.

The weighted LABJ Stock Index ended the trading week of Jan. 18 up less than one-half percent to 140.43. Gainers outpaced decliners 95 to 67, with nine companies unchanged.

The biggest mover was K-Swiss Inc., jumping 50 percent to $4.71. The Westlake Village sports brand agreed to be acquired by South Korean retailer E. Land World for $170 million.

L.A. brand licensing company Sequential Brands Group Inc. rose 17 percent to $6.01 and Los Angeles apparel company American Apparel Inc. gained 15 percent to $1.30. Both companies made well-received presentations at the same investor conference earlier in the week.

Herbalife Ltd. rose nearly 11 percent to $43.50. The L.A. nutritional supplement company announced preliminary fourth-quarter net income that topped analysts’ estimates and said it would resume buying back shares.

One of the largest decliners was Power-One Inc., falling 9 percent to $3.79. The Camarillo maker of the solar power equipment forecast a fourth-quarter loss and cut its revenue forecast.

Amgen Inc. fell 6.5 percent to $82.09. The Thousand Oaks biotech reported that its Aranesp anemia treatment didn’t help patients with heart problems.