5 July Florida Continues to Deliver Evidence - Best for Business July 5, 2017 By Laura Pavlus General Florida , Economic Development, Strategic Advantages 0 University of Miami's 'Florida 50' Stock Index Significantly Outperformed Broader Market - Full Story Here The University of Miami’s Florida 50 Index, the bellwether on the state economy owned by the School of Business, gained 7.2% in the second quarter of 2017, outperforming both the S&P 500 and S&P 1500 by more than double. The Florida 50 index, which tracks all Florida firms in the S&P Composite 1500® Index, beat the S&P 500 by 4.63% and the S&P 1500 by 4.74% for the quarter. For the year, the Florida 50 Index was up 18.33% compared to 8.24% for the S&P 500 and 7.81% for the S&P 1500. The top-10 Florida performers for the second quarter included PetMed Express Inc., up 102.58%; ILG Inc., up 31.87%; WellCare Health Plans Inc., up 28.07%; Office Depot Inc., up 21.44%; PGT Innovations Inc., up 19.07%; Marriott Vacations Worldwide Corp., up 18.18%; CSX Corp., up 17.64%; Rayonier Advanced Materials Inc., up 17.40%; Parkway Inc., up 15.59%; and Sykes Enterprises Inc., up 14.05%. “The 12 largest companies in the Florida 50 Index have a combined market capitalization of almost $300 billion. 10 of these 12 companies have boasted double-digit returns year-to-date, with seven of the 12 boasting returns of more than 20%,” said Seth Levine, an accounting lecturer at the School. “The strong performance of FP&L’s parent company, NextEra Energy, railroad conglomerate CSX Industries, cruise companies Carnival and Royal Caribbean, Darden Restaurants, and real estate leader Lennar each contributed to helping the index outperform the S&P 500 for the first two quarters of 2017.” The University of Miami’s Florida 50 Index, which was established by the School of Business in 2016, is based on the capitalizations of all Florida-based large-, mid- and small-cap companies included in the S&P 1500 index having common stock listed on the NYSE or NASDAQ. It is the first custom S&P Dow Jones index to be owned by a university and the only index that focuses solely on public companies headquartered in an individual U.S. state. The index is available under the ticker symbol UMIAMIFL through the S&P website at: www.umiamifl.com. The performance can be monitored in real time on Yahoo Finance. The full list of index components can be found here. Learn more about Clay's strategic business advantages here! Related Florida Named No. 2 Best State for Business The best place to do business in the United States is Texas, followed by No. 2 Florida and, in a tie, No. 3 North Carolina and South Carolina, according to Chief Executive’s 2018 “Best and Worst States for Business.” Florida has the Country's Second-best Business Climate Florida ranks as having the second-best business climate in the country, still nipping at the heels of perennial No. 1 Texas. Jacksonville Competing in the Top of the Pack for Small Business Jacksonville placed 30th out of more than 100 major metropolitan areas in an American City Business Journals study of small business vitality across America. Florida's Unemployment Rate Continues to Drop No debate here: Florida's unemployment rate continues to drop — even as more people move to Florida and enter the workforce. What's not to like? Business Leaders Get Glimpse of Florida's Aerospace Industry at Clay EDC Q2 Luncheon Presentation Frank DiBello, CEO of Space Florida, was the keynote speaker for the June 8 quarterly luncheon sponsored by the Clay County Economic Development Corp., which works to bring high-skill, high-wage jobs to Clay County. Clay County Business Owner, Amy Pope-Wells, Participates in Roundtable with President Trump Amy Pope-Wells, successful Clay County business owner of Link Staffing and Tira Diva, joins women small business owners at a roundtable with President Trump and Vice President Pence. Showing 0 Comment Comments are closed.