Tuesday, September 26, 2023

SPX, Albemarle shares leap to record levels

The Standard & Poor’s 500 Index gained another 1.3% last year, reaching a record level. Many Carolinas-based stocks participated in the rally. These were the best performers included in the Capital Investment Cos./Nottingham Index of public companies for the week ended July 14 among companies with shares trading for at least $10.

SPX (SPXC ) 7. 6%  $27.57 — Shares of Charlotte-based industrial products company have more than doubled since September 2015 spinoff of its SPX Flow unit. SPX has more than 5,000 employees in 15 nations.

Alliance One Inernational (AOI) — 7.1% -$16.55 –  Shares of tobacco merchant have gained 20% in the last month. Three investment companies each own 10% shares in the company.

Albemarle (ALB) — 6.9% -$ 117.15  Lithium sales make up about 40% of company revenue, and increasing efforts by automakers to make lithium-ion batteries is boosting demand.  Shares trade at record level. Market cap tops $13 billion.

Biggest decliners:

G1 Therapeutics (GTHX)  -8.8%  $15.42— Biotech company went public at $16 in May. North Carolina investment groups Eshelman Ventures and Hatteras Venture Partners are large investors.

CommScope  (COMM)  -7.9% — $35.13  – Hickory-based cable maker is buying Cable Exchange of Santa Ana, Calif., which makes connectors used in data centers. Terms weren’t disclosed. Shares have traded between $28 and $42 over the last year.

Babcock & Wilcox (BW) — -7.6% – $10.60 – The Charlotte-based industrial products company is 150 years old in 2017 and employs more than 5,000 people. Shares have declined 32% in the last year. The company is trading near its lowest level over the last five years.

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

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