Thursday, July 18, 2024

3D Systems, Triangle Capital and ChannelAdvisor shares slump 20%

The overall stock market continues to show gains, but it was a terrible week for several Carolinas-based stocks. Eight posted declines of 8% or more, including three with 20% collapses. The big winner was Alliance One International, which jumped 27%. Here are the major movers in the Capital Investment Cos./Nottingham Index of Carolinas-based public companies for the week ended Nov. 3. The index includes companies with shares trading for at least $10.

The biggest gainers:

Alliance One International  (AOI) 27%   $13.65 — Morrisville -based tobacco wholesaler reported a quarterly profit following a loss in the same period last year. Its shares still trade well below its high this year of $19.50.

G1 Therapeutics  (GTHX) 7%   $23.40 —  Durham-based cancer-drug researcher has been a strong performer since its IPO earlier this year. Much of its inital research occurred at UNC Chapel Hill.

CommScope  (COMM)  5.7%   $33.51 —Hickory-based telecom equipment maker reported better-than-expected earnings. Shares have gained 4% over the last 52 weeks.

Biggest decliners:

3D Systems (DDD) (-22%)  $8.99— Rock Hill, S.C.-based 3D printing company missed its earnings expectations “by a country mile,” according to Barron’s. It announced a major management shakeup. Shares traded at $23.70 earlier this year.

Triangle Capital (TCAP)  (-21%)  $9.82 — Raleigh-based business lender missed its earnings estimate and slashed its quarterly dividend by 33%. Shares now trade a third below book value.

ChannelAdvisor (ECOM)  (-20%)  $8.85 —Morrisville-based e-commerce company reported disappointing earnings and said it expects operating earnings of as much as $5 million next year, down from a previous maximum target of $7 million.

David Mildenberg
David Mildenberg
David Mildenberg is editor of Business North Carolina. Reach him at

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