Tuesday, April 16, 2024

Cree, Cato, Ply Gem each slid more than 6% last week.

Fifteen Carolinas-based stocks lost at least 4% last week; only one gained that much. These were the best performers included in the Capital Investment Cos./Nottingham Index of public companies for the week ended April 7 among companies with shares trading for at least $10.

Qrvo (QRVO) 4% — A BMO Capital Markets analyst raised his price target to $67 from $58. Key supplier for Samsung and Apple smart phones.

Highwoods (HIW) — 3.7% – Shares trade near record level and Raleigh-based real-estate investment trust is now valued at more than $5 billion.

Speedway Motorsports (TRK) — 2.9% – Shares have bounced between $17 and $23 over the last two years, now at about $19. Peaked at $43 in 1999.

Biggest decliners

Cree CREE  (-7.6%) — Two of 16 industry analysts tracking the LED lighting maker recommend buying its shares.

Cato CATO (-6.3%) — Charlotte-based apparel retailer is getting hammered by online rivals and what CEO John Cato called “merchandise assortment missteps.” Same-store sales declined 21% in April.

Ply Gem (PGEM) — (-6.1%) – Cary-based siding and window-maker hasn’t been able to attract a hoped-for $2 billion bid, the New York Post says. Fredrick Iseman, who owns two-thirds of the shares, wants to sell.

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

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