Stock markets delivered a volatile performance in the first quarter of 2022, and that turbulence was reflected in the Arkansas Index, which tracks the 14 largest publicly traded companies in the state.
The year began with some distress as the S&P 500 recorded its worst January since 2009 and officially hit correction territory — a decline of more than 10% — in February.
Some Arkansas stocks were able to weather the storm. Dillard’s Inc. shares rallied 9.5% in the first three months of the year while shares of Walmart Inc. hung on for a 2.9% gain.
“Despite a 10% decline in the Dow Jones U.S. Retail Index, shares of Walmart and Dillard’s finished the first quarter higher,” Chris Harkins, managing director of Raymond James & Associates, said Thursday. “Shares of Dillard’s continue to impress investors with shares up 190% over the past 12 months.
Tyson Foods Inc. also finished the quarter on the upside, rising 2.83% in the first quarter and shares are up 20% over the past year. The Springdale-based company said that it is adjusting its pricing based on an outlook of higher expenses, while employee turnover has stabilized.
It was a different story in the transportation industry.
“Arkansas transportation companies mostly sold-off in the first quarter, with ArcBest suffering the worst – down 33% in the first quarter,” Harkins said.
Shares of USA Truck Inc., however, rose 3.6% during the first three months of the year. “As a comparison, the Nasdaq Transportation Index fell 7.6%…
