Business

Martin Marietta rocks along, missing earnings estimate

February 10, 2016

The U.S. infrastructure crisis story hasn't panned out for Martin Marietta shareholders over the past decade. The Raleigh-based company reported earnings slightly below estimates Tuesday.

Tyson Foods adding 56 jobs in Monroe

February 10, 2016

(The Charlotte Observer)

Springdale, Ark.-based Tyson Foods will proceed with a $5 million expansion at its chicken processing plant in Monroe. The expansion will add 56 jobs; the company currently employs about 1,500 people at the plant. The city of Monroe and Union County are offering about $225,000 in incentives.

Ingles reports first quarter results

February 10, 2016

(Asheville Citizen-Times)

Net sales declined 1.4% to $951.1 million, but gross profit increased to $225.6 million from $224.4 million during the first quarter of fiscal 2016 at Ingles Markets. The Asheville-based grocery chain is planning capital investments of $100 million to $140 million in 2016.

Highwoods plans $40.9M office building in Cary

February 10, 2016

(The News & Observer, Raleigh)

Highwoods Properties will begin construction of a 167,000-square-foot office building in Cary in the second quarter. The $40.9 million project, in the Weston area, should be complete by the third quarter of 2017. The Raleigh-based REIT reported fourth-quarter earnings that beat Wall Street estimates by a penny a share.

BioCryst shares slump after failed drug trial

February 9, 2016

(The News & Observer, Raleigh)

Shares fell 71% Monday after Durham drug developer BioCryst Pharmaceuticals reported that its experimental treatment for a rare genetic disorder failed to help patients in a clinical trial.

Perdue adding jobs at Rockingham processing plant

February 9, 2016

(Richmond County Daily Journal)

Perdue Foods will invest $10.9 million in its poultry processing plant in Rockingham, adding 30 jobs over the next three years. Maryland-based Perdue is Richmond County's largest private employer with more than 1,000 workers.

Wilmington seeks public input on short-term rentals

February 9, 2016

(StarNews, Wilmington)

Wilmington residents appear to be divided over short-term rentals, such as those offered on VRBO.com and Airbnb. It joins other N.C. cities, including Asheville and Raleigh, that will consider developing new rules for the practice.

Triangle Town Center sells for $174M

February 9, 2016

(The News & Observer, Raleigh)

A joint venture has acquired Triangle Town Center, a shopping mall in north Raleigh, for $174 million. DRA Advisors is the majority owner with a 90% stake; CBL & Associates, which previously held a 50% stake in the mall, now owns 10%. Anchors include Saks Fifth Avenue, Macy's and Sears.

Aquesta preps to open first Wilmington branch

February 9, 2016

(The Charlotte Observer)

Cornelius-based Aquesta Bank received regulatory approval to open its first branch outside the Charlotte metro area. The new Wilmington branch will allow it to build on its presence there; Aquesta opened an insurance-services office there more than eight years ago. Aquesta has seven branches and had $293 million in assets at the end of 2015.

President of NewDominion Bank steps down

February 9, 2016

(The Charlotte Observer)

Marc Bogan, president and chief operating officer of Charlotte-based NewDominion Bank, is leaving to pursue other opportunities, specifically to pursue his dream of becoming CEO of a community bank.