Mobile and Alabama stocks see red
Wall Street and companies throughout our Mobile and Alabama Stock Report were left seeing red at the close of markets Wednesday. Nine companies saw losses of 2.3% or greater.
Louisiana-Pacific Corp. took the biggest hit, dropping nearly $9, or 11.8%. Founded in 1972, the Nashville-based company operates more than 20 manufacturing facilities across North and South America, including two in Alabama – one in Hanceville and one in Thomasville. Both Alabama sites make oriented strand board.
Johnson Controls plummeted 9.3%. It offers the world’s largest portfolio of building technology, software and services. It has facilities throughout Alabama, including Huntsville, Birmingham and Mobile.
Other major decliners included Community Health Systems (5.9%), Enviva (5.1%) and U.S. Steel (4.8%).
Encompass Health Corp. was the biggest winner on the day, gaining a gawdy 5.1%. Headquartered in Birmingham, it is the nation’s largest system of rehabilitation hospitals. It has seven hospitals across Alabama: Huntsville, Gadsden, Birmingham, Pelham, Montgomery, Phenix City and Dothan.
Overall, Wall Street tumbled to its worst drop in months on Wednesday as its torrid rally that critics called overdone lost more momentum.