While many chain restaurants aimed at middle America have struggled in recent years, Denny’s is enjoying a quiet rebound as more diners gobble down the South Carolina-based company’s eggs and pancakes. It tops the list of best performing Carolinas-based stocks included in the Capital Investment Cos./Nottingham Index of public companies for the week ended Feb. 17. (Shares trading under $10 are excluded.)
Denny’s (DENN) 9.6% While many chain restaurants are struggling, the Spartanburg-based diner reported higher comp-store sales than a year earlier. Shares have tripled in the last five years, reaching record levels.
Bank of America (BAC) 6.2% Hope for higher interest rates is buoying bank stocks. Such is the optimism at giant BofA that CEO Brian Moynihan received a $20 million pay package, including some incentive-based pay. That’s 25% higher than a year earlier. Shares have climbed 50% in the last two years.
Yadkin (YDKN) 5.9% Shares have jumped 27% since the day after the Raleigh-based bank’s sale to FNB Corp. was announced in July. The reason: banks stocks have soared since last summer, including Pennsylvania-based FNB, which is paying stock for Yadkin.
The weakest performers:
Enpro (NPO) –6.5% The Charlotte-based industrial products company said it lost $40 million last year, following a $21 million loss in 2015. Pre-tax earnings in the fourth quarter declined 21% from a year earlier.
Martin Marietta (MLM) -5.5% Revenues topped expectations at the Raleigh-based aggregates company, while net income was well below estimates. Shares have jumped 60% in the last year on hopes that state and federal spending on infrastructure will soar.
Scana (SCG) -5.2% South Carolina’s biggest utility slumped the most in a year and a half after Toshiba said it may sell its Westinghouse nuclear unit, which is making a reactor for a new power plant. Shareholders may be on the hook if Westinghouse can’t meet its commitments, analysts said.