In this past recent post, I also found that these 98 Largest Virginia Corps filing with the SEC had Audited under US Generally Accepted Accounting Principles (US GAAP) Total After-tax Net Income of $10.5 bil in the most recent fiscal year 2011, which was a profit improvement of a massive $57.1 bil as compared with the $46.6 bil of After-tax Net Loss generated by these same 98 Virginia companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.
Virginia Corp 2011 Earnings
Included in the above total earnings and loss numbers are those related to Freddie Mac. If Freddie Mac is excluded, the remaining 97 Largest Virginia Corps generated a Total After-tax Net Income of $15.7 bil in the most recent fiscal year 2011, up $12.2 bil, or 351% above the comparable Net Income amount of $3.5 bil earned by these same 97 Virginia companies three years earlier in 2008.
Since corporate earnings drive stock prices, in this post I turn my attention to just how well the stock market prices of these Virginia Corps have performed since President Obama took office.
Of these 98 Virginia Corps, 80 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 at today's close.....Wednesday, October 10, 2012.
I retrieved all of the below stock market closing price information from the excellent Big Charts.com website.
These 80 Virginia Corps had an average stock market price increase of a very robust 97% since President Obama took office on January 20, 2009. This is far better than 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 identical 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 80 Virginia companies at the closing market price on January 16, 2009, this would have cost you initially $80,000, ignoring any transaction costs, and this stock portfolio would now be worth $157,600.
Virginia is loaded with so many very perceptive and financially astute citizens, thus most of them already had this all figured out. They probably just didn't previously have the precise average percentage increases tied down.
Virginians have to be extremely happy with the stock market performance of their many fine Virginia companies during the Obama Administration.
And Virginia 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 Virginia 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 horrible financial meltdown, near Depression year of 2008.
Frankly, it's pretty clear to me that the Obama Administration is just not very good at selling its many accomplishments, particularly on the economic front. After all, playing a very helpful role in turning a stock portfolio of 80 Virginia companies from $80,000 to $157,600 in only 3 3/4 years is clearly something you want to write home about.
Below here are the common stock market closing prices of each of these 80 Virginia companies at today's (October 10, 2012) closing price, 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 | ||
| Virginia | Price | Price | Increase | |
| HQs | 10-10-12 | 1-16-09 | (Decrease) | |
| S&P 500 Index | 1,432.56 | 850.12 | 69% | |
| Dow Industrials Index | 13,344.97 | 8,281.22 | 61% | |
| Companies Headquartered in Virginia | ||||
| Sunrise Senior Living | McLean | $14.46 | $1.27 | 1039% |
| Newmarket Corp | Richmond | $237.44 | $29.20 | 713% |
| Measurement Specialties | Hampton | $33.41 | $5.69 | 487% |
| Arlington Asset Investment | Arlington | $22.65 | $4.00 | 466% |
| Comstock Homebuilding | Reston | $1.37 | $0.28 | 389% |
| Lumber Liquidators | Toano | $49.14 | $10.21 | 381% |
| Bassett Furniture Industries | Bassett | $11.50 | $2.90 | 297% |
| CarMax | Richmond | $31.34 | $8.11 | 286% |
| ePlus Inc | Herndon | $38.90 | $10.46 | 272% |
| Portfolio Recovery Associates | Norfolk | $102.11 | $27.88 | 266% |
| Deltek | Herndon | $12.99 | $3.71 | 250% |
| Dollar Tree | Chesapeake | $46.91 | $14.44 | 225% |
| Amerigroup | Virginia Beach | $91.64 | $28.32 | 224% |
| MicroStrategy | Tysons Corner | $119.21 | $37.75 | 216% |
| Maximus | Reston | $57.35 | $18.24 | 215% |
| MeadWestvaco | Richmond | $30.06 | $10.49 | 187% |
| Access National | Chantilly | $13.00 | $4.93 | 164% |
| Verisign | Reston | $47.68 | $18.61 | 156% |
| Cardinal Financial | McLean | $14.18 | $5.56 | 155% |
| C&F Financial | West Point | $39.37 | $16.00 | 146% |
| AvalonBay Communities | Arlington | $134.72 | $55.23 | 144% |
| Capital One Financial | McLean | $58.23 | $24.10 | 142% |
| Neustar | Sterling | $39.85 | $16.57 | 140% |
| Gannett | McLean | $17.72 | $7.59 | 133% |
| Intersections | Chantilly | $9.47 | $4.09 | 132% |
| Genworth Financial | Richmond | $5.47 | $2.38 | 130% |
| Corporate Executive Board | Arlington | $51.03 | $22.94 | 122% |
| Advance Auto Parts | Roanoke | $69.11 | $31.72 | 118% |
| Altria Group | Richmond | $33.34 | $16.84 | 98% |
| Trex Co. Inc | Winchester | $33.04 | $16.89 | 96% |
| NVR | Reston | $872.21 | $453.60 | 92% |
| Virginia Commerce Bancorp | Arlington | $8.70 | $4.58 | 90% |
| Media General | Richmond | $5.24 | $2.88 | 82% |
| Norfolk Southern | Norfolk | $66.40 | $37.81 | 76% |
| National Bankshares | Blacksburg | $32.22 | $19.12 | 69% |
| TNS | Reston | $14.63 | $9.09 | 61% |
| Smithfield Foods | Smithfield | $20.38 | $12.72 | 60% |
| Universal Corp | Richmond | $50.62 | $31.96 | 58% |
| Xenith Bankshares | Richmond | $5.48 | $3.50 | 57% |
| Northrop Grumman | Falls Church | $68.21 | $44.12 | 55% |
| Markel | Glen Allen | $456.36 | $297.50 | 53% |
| GeoEye | Herndon | $26.83 | $17.51 | 53% |
| ComScore | Reston | $15.33 | $10.76 | 42% |
| American National Bankshares | Danville | $22.60 | $16.05 | 41% |
| Dynex Capital | Glen Allen | $9.87 | $7.02 | 41% |
| Monarch Financial Holdings | Chesapeake | $9.85 | $7.27 | 35% |
| American Woodmark | Winchester | $20.61 | $16.53 | 25% |
| AES | Arlington | $10.64 | $8.56 | 24% |
| General Dynamics | Falls Church | $65.16 | $54.59 | 19% |
| Owens & Minor | Mechanicsville | $29.44 | $26.25 | 12% |
| K12 Inc | Herndon | $21.57 | $19.30 | 12% |
| CACI Intl | Arlington | $49.31 | $45.40 | 9% |
| Brinks | Richmond | $26.31 | $24.81 | 6% |
| Tredegar | Richmond | $16.67 | $17.89 | -7% |
| StellarOne | Charlottesville | $13.24 | $14.23 | -7% |
| USA Mobility | Springfield | $11.25 | $12.11 | -7% |
| Community Bankers Trust | Glen Allen | $2.64 | $2.97 | -11% |
| Computer Sciences Corp | Falls Church | $31.33 | $36.98 | -15% |
| Iridium Communications | McLean | $7.58 | $9.32 | -19% |
| Orbital Sciences | Dulles | $14.36 | $17.86 | -20% |
| Union First Market Bankshares | Richmond | $15.67 | $19.65 | -20% |
| ICF Intl | Fairfax | $18.81 | $24.48 | -23% |
| FBR & Co | Arlington | $3.15 | $4.17 | -24% |
| Towne Bank | Portsmouth | $15.75 | $21.25 | -26% |
| Stanley Furniture | Stanleytown | $4.78 | $6.63 | -28% |
| Shenandoah Telecommunications | Edinburgh | $18.22 | $25.51 | -29% |
| Ntelos Holdings | Waynesboro | $16.70 | $23.55 | -29% |
| SAIC | McLean | $11.05 | $19.34 | -43% |
| VSE Corp | Alexandria | $25.10 | $46.44 | -46% |
| Alpha Natural Resources | Bristol | $7.31 | $14.17 | -48% |
| Eastern Virginia Bankshares | Tappahannock | $5.00 | $9.80 | -49% |
| NII Holdings | Reston | $7.71 | $19.55 | -61% |
| ManTech Intl | Fairfax | $21.83 | $56.93 | -62% |
| Freddie Mac | McLean | $0.25 | $0.70 | -64% |
| Strayer Education | Herndon | $65.91 | $219.44 | -70% |
| Village Bank & Trust Financial | Midlothian | $1.01 | $4.30 | -77% |
| James River Coal | Richmond | $3.16 | $14.69 | -78% |
| NCI Inc | Reston | $5.93 | $31.97 | -81% |
| Central Virginia Bankshares | Powhatan | $0.75 | $4.61 | -84% |
| Hampton Roads Bankshares | Norfolk | $1.33 | $8.87 | -85% |
| Average Increase: all 80 Virginia Corps | 97% | |||
| S&P 500 Index | 1,432.56 | 850.12 | 69% | |
| Dow Industrials Index | 13,344.97 | 8,281.22 | 61% |
It should be pointed out that the above earlier period stock price of Arlington Asset Investment has been adjusted to reflect the effect of a one-for-twenty reverse stock split.
A late addition above was Comstock Homebuilding, which resulted in an increase in the all 80 Virginia Largest Corps average stock price increase during the Obama Administration from 93% to 97%.
OK, so that is three of the US Battleground States down, and a handful yet to go. So let's see.....here's the average stock market price increases for these three.....Ohio Corps up 161%, Florida Corps up 137%, and now Virginia Corps up 97%.....all substantially higher than the overall stock market increases over the same period. Next up.....Colorado.
