UTi, Jakks Among Week’s Biggest MoversFriday, February 28, 2014
The Los Angeles Business Journal’s index of largest local public companies rose for the week.
The weighted LABJ Stock Index rose more than 1 percent to 190.64 for the trading week ended Feb. 28. Gainers outpaced decliners 97 to 52, with 11 companies unchanged.
The biggest mover was UTi Worldwide Inc., which fell 36 percent to $9.84. The Long Beach freight forwarding company announced a debt refinancing plan, disclosed it had breached some debt covenants and warned that it expects to report a fourth quarter loss.
Among the biggest gainers was Jakks Pacific Inc., which rose 23 percent to $7.16. The Malibu toy maker reported earnings that beat analysts’ expectations.
Demand Media Inc. fell 14 percent to $4.85. The Santa Monica Web content publisher reported earnings in line with analysts’ expectations, but missed revenue forecasts.
Evoq Properties Inc. gained 12 percent to $7.90. The downtown L.A. developer announced that it was exploring strategic alternatives, including a possible sale of the company.