SPX, Albemarle shares leap to record levels
The Standard & Poor’s 500 Index gained another 1.3% last year, reaching a record level. Many Carolinas-based stocks participated in the rally. These were the best performers included in the Capital Investment Cos./Nottingham Index of public companies for the week ended July 14 among companies with shares trading for at least $10.
SPX (SPXC ) 7. 6% $27.57 — Shares of Charlotte-based industrial products company have more than doubled since September 2015 spinoff of its SPX Flow unit. SPX has more than 5,000 employees in 15 nations.
Alliance One Inernational (AOI) — 7.1% -$16.55 – Shares of tobacco merchant have gained 20% in the last month. Three investment companies each own 10% shares in the company.
Albemarle (ALB) — 6.9% -$ 117.15 Lithium sales make up about 40% of company revenue, and increasing efforts by automakers to make lithium-ion batteries is boosting demand. Shares trade at record level. Market cap tops $13 billion.
G1 Therapeutics (GTHX) -8.8% $15.42— Biotech company went public at $16 in May. North Carolina investment groups Eshelman Ventures and Hatteras Venture Partners are large investors.
CommScope (COMM) -7.9% — $35.13 – Hickory-based cable maker is buying Cable Exchange of Santa Ana, Calif., which makes connectors used in data centers. Terms weren’t disclosed. Shares have traded between $28 and $42 over the last year.
Babcock & Wilcox (BW) — -7.6% – $10.60 – The Charlotte-based industrial products company is 150 years old in 2017 and employs more than 5,000 people. Shares have declined 32% in the last year. The company is trading near its lowest level over the last five years.