Good times in Mount Airy: Insteel shares rocket 27%
These were the best performing Carolinas-based stocks included in the Capital Investment Cos./Nottingham index of public companies for the week that ended Nov. 25.
Insteel Industries IIIN 26.8% – Wire maker was added to S&P Small Cap Index, attracting index-fund buyers. Expected infrastructure spending gains also benefit Mount Airy-based company, with 16% profit increase expected in 2017.
SPX SPXC 8.6% — Charlotte-based company is selling its European power generation division. Shares have tripled since January.
First Bancorp FBNC 8.3% – Southern Pines-based community bank run by former State Treasurer Richard Moore has run up 28% in last month.
Cempra CEMP (-9%) – Cowen biotech analyst Ritu Baral downgrades drug developer, noting “profound uncertainty” and “a significant lack of clarity.” Shares closed at $6.60.
BioDelivery Sciences International BDSI (-5.4%) – Volatile company closed Nov. 25 at $1.75 per share.
Cato CATO (-3.4%) – Charlotte-based apparel retailer ‘s weaker-than-expected earnings report weighs on its stock. Traded at $40.50 earlier this year, closed Nov. 25 at $31.31