Home Back Issues February 2009 Stocks that went up

Stocks that went up

| Print |  Email
Archives - February 2009
Sunday, February 01, 2009

STATEWIDE —You know times are hard when you can count on one hand the public companies that gained over the past year. The overwhelming majority of the public companies with major presences in Oregon have seen their stock prices plummet, but five stalwarts  —  including, believe it or not, two banks — defied the downturn.


San Francisco-based Wells Fargo, the largest home mortgage holder in Oregon and a major employer here, slid 25% between January and July of 2008, but recovered powerfully while snapping up former rivals on the cheap, gaining 2% over the past year.

Cincinnati-based Kroger, parent company of the Oregon mega-store powerhouse Fred Meyer, capitalized on the trend to stock up on the basics in bulk and boosted its stock price 5% in the process.

Wilsonville-based FLIR Systems continued to pull in fat military contracts for its infrared cameras, pulling in more than a billion dollars in revenue for the first time in 2008. Its stock has fallen from its summer peak of over $43 per share, but even with that drop it still increased 4% over a year ago.  

Northwest Pipe, a longtime Portland fixture that recently relocated across the river to Vancouver, fared even better amid the downturn, building up a backlog of orders for water transmission systems. Its stock price soared to an all-time high of $63 in September, and even after a steep drop-off in October it still rose 25% over the past year.

The only company to beat that performance was Pacific Continental Bank, a Eugene-based bank that resisted the temptation to chase the speculators into California, Bend, and other boom-and-then-bust towns. The bank also avoided the subprime and stated-income "liar loans" that brought down other banks, most notably Seattle-based Washington Mutual, the largest bank failure in U.S. history.

"We did a very good job of sticking to our principles and not getting into markets that were risky," says Pacific Continental vice president Maecey Castle.

The strategy paid off. Pacific Continental's percentage of nonperforming assets is about one fifth of the industry average and its stock price recovered from a low of $10.42 Jan 4, 2008, to $14.90 a year later, a 44% rise. Not a bad showing over a year when the typical stock moved 35% in the opposite direction.               

BEN JACKLET



Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

More Articles

Tech makes the world go round

Contributed Blogs
Thursday, March 20, 2014
03.20.14 thumb internetBY JASON NORRIS | GUEST BLOGGER

I don’t think anyone can (or should) remember what it was like to get things done without the internet. This milestone in technology has certainly benefited brick-and-mortar companies and subsequently launched a new era of businesses.


Read more...

Powerlist: Meeting perspectives

March 2014
Tuesday, February 25, 2014

BY BRANDON SAWYER

A conversation about the event-planning industry with sales directors from McMenamins and the Portland Art Museum. 


Read more...

Banishing oil burners reaps benefits for schools

News
Tuesday, April 01, 2014
04.02.14 thumb co2schoolsBY APRIL STREETER | OB CONTRIBUTOR

Three years ago, PPS set out to begin to convert the 1930s-era boilers from diesel/bunker fuel to cleaner-burning natural gas. Oregon’s largest school district has realized impressive carbon dioxide emissions reductions, setting an example for public and private institutions.


Read more...

Are millennials reshaping politics in the Pacific Northwest?

News
Wednesday, April 02, 2014

MillennialsThumbA new report explores the impact of millennials on Oregon's business and political climate.


Read more...

The 2014 List: The Top 33 Large Companies to Work, For in Oregon

March 2014
Thursday, February 27, 2014

100best14logoWebOur 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.

 


Read more...

Wheel man

March 2014
Tuesday, February 25, 2014
BY LINDA BAKER

Les Schwab has put a premium on customer service since 1952, when legendary namesake Les Schwab founded the company with one store in Prineville. (Schwab died in 2007.) But if the corporate principles remain essentially the same, the world around this iconic Oregon business has changed dramatically.


Read more...

The 2014 100 Best Companies to Work for in Oregon

News
Friday, February 28, 2014

100best14logo ThumbnailThe 21st annual 100 Best Companies to Work For in Oregon list was announced Thursday night at an awards dinner at the Oregon Convention Center.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS