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Wednesday, June 12, 2024

Seven Carolinas stocks plunge 10% in the last week

It was a crazy week for several Carolinas stocks, with seven sliding more than 10%, including Sonic Automotive, Triangle Capital and CommScope. But a grand slam for Denny’s, the best performer in the Capital Investment Cos./Nottingham Index of Carolinas-based public companies for the week ended Aug. 4. The index includes companies with shares trading for at least $10.

Here are the biggest gainers:

Denny’s  (DENN) — 7.1% — $12.21 – Pride of Spartanburg, S.C., soared after reporting an $8.7 million profit in recent quarter, compared with a loss last year.

LendingTree (TREE) — 5.6% — $229.25 – The online marketplace stock’s move is amazing: Shares have gained 108% over the last year. Market value is $2.75 billion for company, which has reported net profit of about $28 million over last four quarters.

Hanesbrands (HBI) — 4.4% — $24.29 Apparel company reported a profit of $172.5 million in the second quarter. Revenue is expected to top $6.4 billion this year.

Biggest decliners:

Benefitfocus (BNFT)  (-24.8%) $27.50 — Slower sales growth at the Charleston, S.C.-based company caused investors to run. Reported a $4.5 million net loss in the quarter.

3D Systems (DDD) (-20.3%) $13.47  — Disappointing earnings scared investors. Shares of the Rock Hill, S.C.-based company have declined 9% over the last year.

Triangle Capital (TCAP) (-15.7%) — $14.63  — Raleigh-based business-development company’s shares sunk after reporting second-quarter operating income of 41 cents per share, below its current dividend of 45 cents.

David Mildenberg
David Mildenberg
David Mildenberg is editor of Business North Carolina. Reach him at dmildenberg@businessnc.com.

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