Los Angeles Business Journal

Jakks, Joe’s Among Week’s Biggest Movers

Friday, July 19, 2013

The Los Angeles Business Journal’s index of largest local public companies saw gains for the second week in a row, with shares of most companies on the list rising.

The weighted LABJ Stock Index rose 1 percent to 169.54 for the trading week ended July 19. Gainers outpaced decliners 101 to 55, with 8 companies unchanged.

Among the gainers was Arden Group Inc., up 14 percent to $130.21. The parent company of the Gelson’s Market supermarket chain announced it was considering a potential sale of itself.

Response Genetics Inc. gained 13 percent to $1.79. The Los Angeles biotech testing company said it had renewed an agreement with a large customer.

The biggest decliner was Jakks Pacific Inc., plummeting 41 percent to $6.67. The Malibu toymaker reported a second quarter loss on lower sales, cut its full-year forecast and announced plans to cut jobs.

Joe’s Jeans Inc. fell 24 percent to $1.32. The Commerce apparel company reported lower than expected earnings and announced it would acquire Hudson Clothing Holdings Inc., another Commerce apparel company, for $97.6 million.