Red Hat was formed in 1993 by Bob Young, who wanted to democratize software development. The company has proven since then that it also can make lots of money: The stock market now values the company at more than $17 billion.
These were the best performers included in the Capital Investment Cos./Nottingham Index of public companies for the week ended June 23 among companies with shares trading for at least $10.
Red Hat (RHT) 13.2% — $99.42— Raleigh-based software company had a great first quarter with revenue gaining 20% from a year earlier. Stock is up 35% in the last year. Topped $100 for first time since 1999 tech bubble.
LabCorp (LH) 7.7% — $151.62 — Shares hit a record level as investors bought health care stocks as a defensive move. Burlington-based drug testing company is now valued at $15.5 billion.
LendingTree (TREE) 7.2% – $182.05 — Charlotte-based online marketplace is on fire with shares gaining 135% in the last year. Company has made two acquisitions totaling about $70 million in last two weeks to broaden its offerings.
Biggest decliners:
SPX Flow (FLOW) (-6.4%) – $36.21 — Among the state’s most volatile stocks, the Charlotte-based industrial-products manufacturer has gained 32% in the last year.
Bojangles’ (BOJA) (-6.2%) – $15.85 — Charlotte’s favorite chicken-and-biscuit chain trades at near record low since May 2015 initial public offering. Eight of 13 analysts rate it a buy. Enterprise value is about $900 million.
Ingles (IMKTA) (-5.9%) – $31.95 — Traditional grocers such as Asheville-based Ingles scare investors after Amazon said it would buy Whole Foods Markets for $13 billion. Buyout rumors had pushed shares above $50 in 2015.