The stunning ascent of LendingTree continues as its quarterly earnings smashed expectations. Old Dominion Freight Line gained more than 10%. Tougher news came from Speedway Motorsports, which reported less profit and revenue than expected as demand for Nascar and other auto racing events remained sluggish. Here are the major movers in the Capital Investment Cos./Nottingham Index of Carolinas-based public companies for the week ended Oct. 27. The index includes companies with shares trading for at least $10.
The biggest gainers:
LendingTree (TREE) 19% $266.40 — Charlotte-based online marketplace reported revenue gained 81% compared with the same period last year. Shares have soared 243% in the last year.
Blackbaud (BLKB) 10.1% $102.39 — Charleston, S.C.-based company designs software for education and other nonprofit organizations. Subscriptions, a recurring source, now make up 65% of revenue. Shares have gained 70% in the last year.
Old Dominion Freight Line (ODFL) 10.1% $123.84 —High Point-based trucking company is benefiting from the strengthening economy, CEO David Congdon said. Shares have gained 65% in the last year and trade at record levels.
Biggest decliners:
Speedway Motorsports (TRK) (-15.5%) $19.51 — Earnings per share came in 20% below expectations, while revenue was $4 million short. On the Charlotte-based company’s conference call, an unidentified analyst criticized the company for not providing more details on admission and pricing trends.
Tanger Factory Outlets (SKT) (-8.5%) $23.06 — Shares of the Greensboro-based mall operator are trading at their lowest level since 2010, reflecting continued worries about the “Amazon Effect.” The company opened its 44th mall with a new site in Fort Worth, Texas.
Benefitfocus (BNFT) (-8.2%) $27.55 —Zachs Investment Research cut its rating on the Charleston, S.C.-based cloud-benefits administrator to sell. It has declined 18% in the last year.
