These 74 Largest Pennsylvania Corps filing with the SEC generated Externally Audited US GAAP Total After-tax Net Income from Continuing Operations of $24,357 mil in the most recent fiscal year 2011, which was a profit improvement of a massive $16,549 mil, or up 212%, over the Total After-tax Net Income of $7,808 mil generated by these same 74 companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.
Pennsylvania Largest Corp 2011 Earnings
Since corporate earnings drive stock prices, in this post I turn my attention to just how well the stock market prices of these Pennsylvania Corps have performed since President Obama took office.
Of these 74 Pennsylvania Corps, 62 of them had their common stock trading on both January 16, 2009, which is the last day stocks traded before President Obama took office, and also on yesterday's date, Friday, October 12, 2012.
I retrieved all of the below stock market closing price information from the excellent Big Charts.com website.
These 62 Pennsylvania Corps had an average stock market price increase of a very robust 133% since President Obama took office on January 20, 2009. This is roughly double the increase in both the S&P 500 Index, which increased by 69%, and the Dow Industrials Index, which increased by 61%, both during the same time span.
So what this means in simplistic terms is that if you invested the same amount of money.....say $1,000.....in the common stock of each of these 62 Pennsylvania companies at the closing market price on January 16, 2009, this would have cost you initially $62,000, ignoring any transaction costs, and this stock portfolio would now be worth $144,460.
There are many financially astute Pennsylvania citizens, and they already had this all figured out. They probably just didn't previously have the precise average percentage increases tied down.
Pennsylvania citizens have to be extremely happy with the stock market performance of their many fine Pennsylvania companies during the Obama Administration.
And Pennsylvania citizens also must be very pleased with how the Obama Administration worked so hard and very effectively on so many fronts to create a US economic environment that permitted these Pennsylvania companies to flat out flourish. This highly successful effort created a robust US economic environment which was quite a change from what existed in the just horrible financial meltdown, near Depression year of 2008.
When I think of the Obama Administration, the thought that comes top of mind to me is widespread competence, all throughout the upper ranks of the US government. But frankly, it's also pretty clear to me that the Obama Administration is just not very good at selling its many significant accomplishments, particularly on the economic front.
About the only thing I hear from the Obama Administration on the economic front is the positive effect of the auto rescue on the US economy. Granted, this did positively and substantially impact US states like Michigan, whose Corps had an average stock price increase of 344% since President Obama took office, and also like Ohio, whose Corps average stock prices were up 161%, and Indiana, whose Corps average stock prices were up 131%.
But of the 27 Michigan Corps comprising this 344% average stock price increase, 20 of them were Non-Auto Industry companies, and they had an average stock price increase of an exceptional 314%.
And the very successful auto rescue had little to do with Pennsylvania Corps 133% average stock price increase, with North Carolina Corps 99% average stock price increase, with Iowa Corps 99% average stock price increase, with Virginia Corps 97% average stock price increase, with Nevada Corps 178% average stock price increase, with Colorado Corps 179% average stock price increase, and with Florida Corps 137% average stock price increase....all occurring during the Obama Administration.
There is something else very positive going on in the US economy since President Obama has taken over, and the Obama Administration has very modestly taken no credit for it. But when you think of the overall US economy in 2008 and now, there is clearly a substantial turnaround that has occurred, and the Obama Administration played a key role here in this massive economic revival from the depths of a near Depression.
Below here are the common stock market closing prices of each of these 62 Pennsylvania companies at both the most recent date, and also at the date just before President Obama took office, as well as the percentage stock market price changes for this period of time.
| Market | Market | Percentage | ||
| Pennsylvania | Price | Price | Increase | |
| HQs | 10-12-12 | 1-16-09 | (Decrease) | |
| S&P 500 Index | 1,428.59 | 850.12 | 68% | |
| Dow Industrials Index | 13,328.85 | 8,281.22 | 61% | |
| Pennsylvania Largest Corps | ||||
| Atlas Energy LP | Pittsburgh | $35.68 | $3.11 | 1047% |
| Sunoco | Philadelphia | $7.75 | $0.78 | 896% |
| Kulicke & Soffa | Philadelphia | $9.65 | $1.67 | 478% |
| Dick's Sporting Goods | Coraopolis | $50.39 | $12.18 | 314% |
| Safeguard Scientifics | Wayne | $15.40 | $3.78 | 307% |
| EnerSys | Reading | $32.37 | $9.26 | 250% |
| Vishay Intertechnology | Malvern | $8.59 | $2.51 | 242% |
| Triumph Group | Berwyn | $62.40 | $19.80 | 215% |
| Wesco Intl | Pittsburgh | $56.11 | $18.08 | 210% |
| Sunoco Logistics Partners | Philadelphia | $48.32 | $16.34 | 196% |
| Ansys | Canonsburg | $69.55 | $24.64 | 182% |
| PPG Industries | Pittsburgh | $114.23 | $41.43 | 176% |
| Rite Aid | Camp Hill | $1.16 | $0.43 | 170% |
| Pennsylvania Real Estate Investment Trust | Philadelphia | $16.49 | $6.28 | 163% |
| Carpenter Technology | Wyomissing | $51.10 | $19.47 | 162% |
| Westinghouse Air Brake | Wilmerding | $83.60 | $33.26 | 151% |
| Gardner Denver | Wayne | $57.55 | $22.90 | 151% |
| Universal Health Services | King of Prussia | $45.33 | $18.94 | 139% |
| FMC | Philadelphia | $53.63 | $22.57 | 138% |
| Armstrong World Industries | Lancaster | $46.20 | $19.52 | 137% |
| Ametek | Berwyn | $34.11 | $14.44 | 136% |
| Comcast | Philadelphia | $35.78 | $15.33 | 133% |
| Unisys | Blue Bell | $21.72 | $9.40 | 131% |
| Urban Outfitters | Philadelphia | $36.61 | $16.14 | 127% |
| Mylan Inc | Canonsburg | $23.78 | $11.00 | 116% |
| Viropharma | Exton | $28.77 | $13.38 | 115% |
| American Eagle Outfitters | Pittsburgh | $21.54 | $10.06 | 114% |
| AmeriSource Bergen | Chesterbrook | $39.50 | $18.71 | 111% |
| Penn National Gaming | Wyomissing | $40.82 | $19.71 | 107% |
| TE Connectivity Ltd | Philadelphia Area | $32.75 | $15.82 | 107% |
| Kennametal | Latrobe | $36.09 | $17.57 | 105% |
| Airgas | Radnor | $80.11 | $39.05 | 105% |
| Hershey | Hershey | $69.53 | $35.03 | 98% |
| Crown Holdings | Philadelphia | $37.22 | $18.87 | 97% |
| Penn Virginia Resource Partners | Radnor | $25.57 | $13.36 | 91% |
| Liberty Property Trust | Malvern | $36.93 | $20.00 | 85% |
| RAIT Financial Trust | Philadelphia | $5.05 | $2.75 | 84% |
| EQT | Pittsburgh | $60.32 | $33.00 | 83% |
| Toll Brothers | Horsham | $32.71 | $19.11 | 71% |
| PNC Financial | Pittsburgh | $62.73 | $37.54 | 67% |
| Erie Indemnity | Erie | $63.20 | $37.84 | 67% |
| HJ Heinz | Pittsburgh | $56.34 | $36.08 | 56% |
| SEI Investments | Oaks | $21.17 | $13.57 | 56% |
| ACE Ltd | Philadelphia | $77.01 | $49.77 | 55% |
| Amerigas Partners | Valley Forge | $44.51 | $30.07 | 48% |
| Air Products & Chemicals | Allentown | $82.00 | $57.02 | 44% |
| Endo Pharmaceuticals | Chadds Ford | $30.48 | $22.27 | 37% |
| Dentsply | York | $37.01 | $27.15 | 36% |
| Teleflex | Limerick | $68.41 | $51.25 | 33% |
| CONSOL Energy | Canonsburg | $35.14 | $26.48 | 33% |
| Fulton Financial | Lancaster | $10.40 | $7.90 | 32% |
| Lincoln National | Radnor | $23.76 | $18.21 | 30% |
| InterDigital | King of Prussia | $34.77 | $26.73 | 30% |
| Radian Group | Philadelphia | $4.35 | $3.53 | 23% |
| Allegheny Technologies | Pittsburgh | $31.42 | $26.34 | 19% |
| Federated Investors | Pittsburgh | $20.44 | $18.62 | 10% |
| Black Box | Lawrence | $25.17 | $24.53 | 3% |
| Alcoa | Pittsburgh | $8.69 | $9.43 | -8% |
| Natl Penn Bancshares | Boyertown | $8.89 | $10.63 | -16% |
| Harsco | Camp Hill | $20.20 | $26.94 | -25% |
| United States Steel | Pittsburgh | $21.19 | $32.58 | -35% |
| Penn Virginia Corp | Radnor | $4.89 | $23.41 | -79% |
| Average Increase: all 62 Pennsylvania Corps | 133% | |||
| S&P 500 Index | 1,428.59 | 850.12 | 68% | |
| Dow Industrials Index | 13,328.85 | 8,281.22 | 61% |
It should be pointed out that the above earlier period stock prices of Unisys has been adjusted to reflect the effect of a one-for-ten reverse stock split, and of Safeguard Scientifics has been adjusted for a one-for-six reverse stock split.
