Welcome to ...

The place where the world comes together in honesty and mirth.
Windmills Tilted, Scared Cows Butchered, Lies Skewered on the Lance of Reality ... or something to that effect.

Thursday, January 1, 2009

Carolinas firms reflect a U.S. market in tatters

Family Dollar was one of 7 companies among the region's major 50 stocks to end '08 in the plus column.

  • Carolinas Stocks
  • The Carolinas 50

    Name

    2007 close

    2008 close

    Price change

    Total return

    Family Dollar Stores Inc.

    $ 19.23

    $ 26.07

    $ 6.84

    38.62%

    Piedmont Natural Gas Co. Inc.

    $ 26.16

    $ 31.67

    $ 5.51

    25.49%

    Old Dominion Freight Line Inc.

    $ 23.11

    $ 28.46

    $ 5.35

    23.15%

    Unifi Inc.

    $ 2.42

    $ 2.82

    $ 0.40

    16.53%

    Lance Inc.

    $ 20.42

    $ 22.94

    $ 2.52

    16.21%

    First Citizens Bancshares Inc.

    $ 145.85

    $ 152.80

    $ 6.95

    5.58%

    The Cato Corp.

    $ 15.66

    $ 15.10

    $ (0.56)

    0.56%

    Lowe's Cos. Inc.

    $ 22.62

    $ 21.52

    $ (1.10)

    -3.33%

    BB&T Corp.

    $ 30.67

    $ 27.46

    $ (3.21)

    -4.31%

    SCANA Corp.

    $ 42.15

    $ 35.60

    $ (6.55)

    -11.30%

    Progress Energy Corp.

    $ 48.43

    $ 39.85

    $ (8.58)

    -12.93%

    Laboratory Corp. of America

    $ 75.53

    $ 64.41

    $ (11.12)

    -14.72%

    VF Corp.

    $ 68.66

    $ 54.77

    $ (13.89)

    -17.51%

    Pantry Inc.

    $ 26.13

    $ 21.45

    $ (4.68)

    -17.91%

    Ruddick Corp

    $ 34.67

    $ 27.65

    $ (7.02)

    -19.07%

    Nucor Corp.

    $ 58.65

    $ 46.20

    $ (12.45)

    -19.31%

    Coca-Cola Bottling Co. Consolidated

    $ 58.88

    $ 45.96

    $ (12.92)

    -20.21%

    Duke Energy Corp.

    $ 20.17

    $ 15.01

    $ (5.16)

    -21.65%

    Martin Marietta Materials Inc.

    $ 132.60

    $ 97.08

    $ (35.52)

    -25.74%

    Sonoco Products Inc.

    $ 32.68

    $ 23.16

    $ (9.52)

    -26.43%

    Pharmaceutical Product Development Corp.

    $ 40.37

    $ 29.01

    $ (11.36)

    -27.30%

    Alliance One International Inc.

    $ 4.07

    $ 2.94

    $ (1.13)

    -27.76%

    Ingles Markets Inc.

    $ 25.39

    $ 17.59

    $ (7.80)

    -28.73%

    EnPro Industries Inc.

    $ 30.65

    $ 21.54

    $ (9.11)

    -29.72%

    Reynolds American Inc.

    $ 65.96

    $ 40.31

    $ (25.65)

    -34.70%

    AVX Corp

    $ 13.42

    $ 7.94

    $ (5.48)

    -39.95%

    ScanSource Inc.

    $ 32.35

    $ 19.27

    $ (13.08)

    -40.43%

    Carlisle Cos. Inc

    $ 37.03

    $ 20.70

    $ (16.33)

    -42.91%

    Goodrich Corp.

    $ 70.61

    $ 37.02

    $ (33.59)

    -46.55%

    Speedway Motorsports Inc.

    $ 31.08

    $ 16.11

    $ (14.97)

    -46.87%

    Denny's Corp.

    $ 3.75

    $ 1.99

    $ (1.76)

    -46.93%

    Hanesbrand Inc.

    $ 27.17

    $ 12.75

    $ (14.42)

    -53.07%

    Medcath Corp.

    $ 24.56

    $ 10.44

    $ (14.12)

    -57.49%

    SPX Corp.

    $ 102.85

    $ 40.55

    $ (62.30)

    -60.01%

    Bank of America Corp.

    $ 41.26

    $ 14.08

    $ (27.18)

    -63.14%

    Commscope Inc.

    $ 49.21

    $ 15.54

    $ (33.67)

    -68.42%

    FairPoint Communications Inc

    $ 13.02

    $ 3.28

    $ (9.74)

    -69.42%

    The South Financial Group Inc.

    $ 15.63

    $ 4.32

    $ (11.31)

    -71.39%

    Polymer Group Inc.

    $ 21.00

    $ 5.50

    $ (15.50)

    -73.81%

    Centerplate Inc.

    $ 9.02

    $ 1.71

    $ (7.31)

    -76.96%

    Sealy Corp.

    $ 11.19

    $ 2.51

    $ (8.68)

    -77.39%

    Sonic Automotive Inc.

    $ 19.36

    $ 3.98

    $ (15.38)

    -78.25%

    Advance America, Cash Advance Centers Inc.

    $ 10.16

    $ 1.89

    $ (8.27)

    -79.42%

    Horizon Lines Inc.

    $ 18.64

    $ 3.49

    $ (15.15)

    -80.28%

    Wachovia Corp.

    $ 38.03

    $ 5.54

    $ (32.49)

    -84.73%

    RF Micro Devices Inc.

    $ 5.71

    $ 0.78

    $ (4.93)

    -86.34%

    Xerium Technologies Inc.

    $ 5.20

    $ 0.66

    $ (4.54)

    -87.31%

    Kemet Corp.

    $ 6.63

    $ 0.27

    $ (6.36)

    -95.93%

    International Textile Group Inc.

    $ 3.00

    $ 0.05

    $ (2.95)

    -98.33%

    R.H. Donnelly Corp.

    $ 36.48

    $ 0.37

    $ (36.11)

    -98.99%

    Bloomberg News

Family Dollar stock rebounded several times in 2008 to end with a total return of nearly 39 percent, one of just seven major Carolinas stocks ending a miserable year on an up note.

The Matthews-based discount retailer, with 6,600 stores in 44 states, has been a rare retail winner in a recession decimating consumer spending. The company, with 45,000 employees, expects to open about 200 stores this year.

“It's a good time for us,” said spokesman Joshua Braverman. “We're excited to be able to help people out.”

Nationwide, stock prices withered across all industries last year as mortgages failed, jobs and credit disappeared, home prices sagged and food costs rose.

Carolinas results mirrored the broader market. Stock in 50 of the states' largest companies registered a hefty average decline of 38 percent in total return, which includes price changes and dividends. That compares with 2007's loss of 7.35 percent for about the same roster.

Besides Family Dollar, four other companies in the Carolinas 50 had impressive double-digit gains.

Piedmont Natural Gas returned more than 25 percent as its base of more than 1 million customers grew. Charlotte snack maker Lance ended the year with a 16 percent return as increased capital spending, management changes and acquisitions paid off; budget-trimming consumers also boosted sales of the company's extensive private label brands. Old Dominion Freight Line and textile firm Unifi also were top gainers.

Three companies posted losses of more than 95 percent, including telephone directory publisher R.H. Donnelly in last place.

Among the Charlotte region's Fortune 500 companies, Family Dollar was the only gainer. Wachovia, the group's poorest performer, is leaving the roster of Carolinas companies following its sale to San Francisco's Wells Fargo. Bank of America, the nation's largest consumer bank and one of the relatively healthiest, saw its stock pummeled, too.

Home-improvement retailer Lowe's held its losses to a comparatively small 3 percent, a much better showing than rival Home Depot.

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)