Triangle

Argos Therapeutics wants Durham to open its wallet for expansion

August 7, 2014

(The News & Observer, Raleigh)

Argos Therapeutics has asked the Durham City Council for a $924,676 incentive for an expansion that could lead to the creation of 236 new jobs and a $41 million capital investment. Durham County commissioners approved a $925,000 incentive last week. The company says five other counties and several locations outside of North Carolina have expressed interest in the project.

Art Pope named to most powerful billionaires list

September 9, 2014

(The News & Observer, Raleigh)

Former state budget director Art Pope is ranked No. 15 on a list of the country's top billionaires who wield the most political influence. Charles and David Koch of Koch Industries tied for first place on the list, compiled by Darrell M. West. West is the author of an upcoming Brookings Institution Press book titled "Billionaires: Reflections on the Upper Crust."

ChannelAdvisor shares fall 30%

August 6, 2014

(The News & Observer, Raleigh)

Shares of Morrisville-based ChannelAdvisor fell 30% on Tuesday after the company released second-quarter results showing it added new customers at a slower pace than anticipated. The software company added 108 customers in the second quarter, compared with 136 in the first quarter.

ChannelAdvisor raises guidance after strong second quarter

August 5, 2014

(The News & Observer, Raleigh)

Morrisville-based ChannelAdvisor reported revenue of $20.8 million in the second quarter, up 30% from the same period a year ago and higher than analysts' projections. The e-commerce software company increased its guidance for the full year to between $86 million and $86.7 million, up from $85 million to $86 million.

Cary's Ignite Social Media loses major client, plans layoffs

August 5, 2014

(The News & Observer, Raleigh)

Ignite Social Media will lay off roughly half of its 110 employees after losing a major client. The Cary-based marketing agency lost its account with Chrysler Group, its largest client since 2011. Most of the job cuts will be in the agency's Detroit office.

Carolina Trace Country Club sold to Texas group

August 4, 2014

(The Fayetteville Observer)

Texas-based Escalante Golf, which owns and operates golf clubs across the United States, purchased Carolina Trace Country Club in Sanford and plans $2 million in renovations. The club had been member-owned since the mid-1980s. 

Quintiles down despite exceeding expectations

August 1, 2014

(News and Observer, Raleigh)

Quintiles shares closed at $54.93, down $1.89, despite the Durham pharmaceutical services company beating analysts' earnings expectations in the second quarter.

Triangle unemployment hits six-year low

July 31, 2014

(News and Observer, Raleigh)

The jobless rate in Raleigh-Durham fell to 5% in June, its lowest level in six years and down from 7.2% the year before.

The Pantry soars on earnings report

July 31, 2014

(News and Observer, Raleigh)

Shares of the Cary-based convenience-store chain skyrocketed 15% Wednesday after it reported third-quarter earnings above analysts' expectations.

Martin-Marietta beats earnings estimates

July 30, 2014

(News and Observer, Raleigh)

Martin-Marietta Materials earned $1.34 per share in the second-quarter, beating analyst estimates of $1.29.

Variety Wholesalers plans southeast Raleigh grocery

July 30, 2014

(News and Observer, Raleigh)

Variety Wholesalers, the retail-store chain owned by Art Pope, bought a Kroger store in southeast Raleigh with plans to open a Rose's store and an adjacent supermarket.

Duke deal expected to lower power costs in eastern N.C.

July 29, 2014

(The Charlotte Observer)

Duke Energy agreed to pay $1.2 billion for North Carolina Eastern Municipal Power Agency's stake in four power plants.The deal should allow Raleigh-based ElectriCities, which manages the agency, to eliminate 70% of its debt and lower power costs to its 270,000 retail customers.

American Underground to double space in downtown Durham

July 25, 2014

(WRAL TechWire)

American Underground, which operates three business incubators in the Triangle area, will double the size of its downtown Durham location, creating space for 50 additional startups. 

Eshelman resigns from UNC Board of Governors

July 25, 2014

(StarNews, Wilmington)

Fred Eshelman resigned from the UNC Board of Governors a year before his term was set to expire. Eshelman founded Wilmington-based PPD and Morrisville-based Furiex Pharmaceuticals, which was acquired by Dublin-based Actavis on July 2 for $1.1 billion.

PowerSecure gains new contracts totaling $140 million

July 24, 2014

(The News & Observer, Raleigh)

PowerSecure International announced contracts totaling $140 million, including $120 million of utility-scale solar projects. The Wake Forest-based company provides technology products and services to electric utilities. Its stock rose 12% on Wednesday.

Raleigh earns top spot on Forbes' list of best places for business

July 24, 2014

(The News & Observer, Raleigh)

Raleigh is No. 1 on Forbes magazine's list of best places for business and careers, up from the third spot last year. The city's high number of college-educated residents, proximity to Research Triangle Park and fewer regulations for small businesses were listed as reasons for earning the top spot.

VantageSouth, Yadkin post strong second quarter results

July 24, 2014

(The News & Observer, Raleigh)

Statesville-based Yadkin Bank and Raleigh-based VantageSouth Bank both posted gains in net income for the second quarter, with VantageSouth reporting a 67% increase from a year ago. The banks have a combined 74 branches after completing a merger on July 4. Combined, the two banks would have generated operating income of $15.5 million, excluding taxes and merger costs.

Zipper maker expanding in Oxford

July 23, 2014

(The News & Observer, Raleigh)

Ideal Fastener Corp. will invest more than $5.7 million in its Granville County plant and will add 155 jobs over five years. The second-largest zipper manufacturer in the world, Ideal employs 226 at its manufacturing headquarters in Oxford.

Morrisville's Gentris acquired by Cancer Genetics

July 23, 2014

(The News & Observer, Raleigh)

Rutherford, N.J.-based Cancer Genetics completed its $6.25 million acquisition of Gentris Corp. The Morrisville-based company works with pharmaceutical companies to integrate pharmacogenomics into clinical trials. Gentris' 40 employees will keep their jobs.

UNC Health Care poised for rebound in 2015

July 22, 2014

(The Herald-Sun, Durham)

The UNC Health Care board of directors expects the system will post a profit of $104 million for fiscal 2015. The hospital system, which includes eight medical centers, has projected a loss of $12.2 million for fiscal 2014, largely due to its investment in a new electronic health record system.