With electronic items on many shopping lists this holiday season, Circuit City Stores Inc. may take cheer from a 16 percent rise in its stock last week.
Shares of Circuit City closed Friday at $9.76, about a week after hitting a 52-week low of $8.08 a share. The Richmond company closed at a 52-week high of $19.21 on Jan. 9. In early November Circuit City said it would report a bigger-than-projected loss for the third quarter, which ended Nov. 30, because consumers were shying away from big-ticket items, such as digital satellite systems. However, preliminary reports indicated that some big retailers did well this past weekend, with sales up sharply over last year.
The Washington Post-Bloomberg regional stock index closed at 164.88 Friday, up 1.15 in an abbreviated trading week. The NVTC Potomac Tech 60, an index made up of 60 technology companies with a large presence in the Washington area, closed at 617.63, up 18.32 for the week.
Anteon International Corp., a Fairfax government contractor, said it was awarded a contract with the U.S. Army Intelligence Center that is potentially worth $37 million. Under the six-year contract, Anteon will train military users how to operate and maintain unmanned aerial vehicles to be used for combat and intelligence purposes. Shares of Anteon closed at $23.35 Friday, up 11 percent for the week.
FTI Consulting Inc., an Annapolis firm that provides financial restructuring and bankruptcy consulting services, said last week it would defer a planned equity offering. The company said it would postpone the 2.1 million-share offering because of volatile conditions in the market. FTI's stock gained 11 percent to close at $41.01 Friday.
VSE Corp. of Alexandria was awarded a contract with the Navy that could be worth as much as $160.5 million over five years.
The contract calls for VSE to provide engineering and technical support services to the Naval Sea Systems Command (NAVSEA) Shipbuilding Support Office. Shares of VSE closed at $11.19, up 8 percent last week.
Allegheny Energy Inc. has lost 69 percent of its value in the last three months and was the biggest loser again last week.
The troubled Hagerstown energy company said two of its units received extensions on credit agreements from bank lenders through Dec. 31. The units received an earlier waiver through Nov. 29.
Despite the extensions, shares of Allegheny fell 15 percent to close at $6.89.