Lebda’s LendingTree soaring as revenue gains 40%
LendingTree’s shares are on fire, tacking on a 14% gain following a 9% increase the previous week. CEO Doug Lebda told analysts that the company has been one of the three best performers on the Nasdaq exchange over the last five years. During that period LendingTree increased from about $8.50 to more than $140.
It was the best performer in the Capital Investment Cos./Nottingham Index of Carolinas-based public companies for the week ended April 28 among companies with shares trading for at least $10.
LendingTree (TREE) — 13.7% — $140.90 – Profit of $11.5 million and a 40% increase in revenue propelled the Charlotte-based online loan marketplace. Shares have gained 62% over the last year and are now trading at a record level.
Live Oak Bancshares (LOB) — 11.6% — $24.15 – Bank stocks in the Carolinas got a boost with the newly announced sales of Charlotte’s Park Sterling and Raleigh-based Paragon.
Benefitfocus (BNFT) — 8.2% — $31.50 Software company moved closer to making money with an earnings report that impressed. Shares have gained 14% over the last month.
Cree (CREE) (-11.7%) $21.88 — Cree lost $99 million in the most recent quarter due to costs incurred in its failed effort to sell its Wolfspeed business segment to Germany’s Infineon Technologies for $850 million. Federal regulators nixed the sale on concerns over national security implications.
Tanger Factory Outlet (SKT) (-4.8%) $31.19 — Mall operator has declined 11% over the last year, not bad given the fear that Amazon has posed for most of the retail sector. Now operating 43 malls, it plans new ones in Fort Worth, Texas and Nashville, Tenn. It canceled a site near Detroit in April because of a lack of retailer interest.
LabCorp (LH) (-4.1%) — $140.15 Adjusted earnings increased 8% from a year earlier. Analysts were disappointed that the testing company’s revenues were slightly lower than expected. Shares of the Burlington-based company have gained 11% over the last year.