Springtime is often regarded as the season of hope, growth and optimism.
But the second quarter has proved far different for investors in many of Chattanooga’s publicly traded companies.
Shares in most of Chattanooga’s biggest companies have dropped – some by double-digit amounts – after the businesses reported their second quarter earnings in the past couple of weeks.
The total market value of Chattanooga’s stock-traded companies declined by more than $3.5 billion in market value over the past two weeks as the earnings reports were released.
Shares of CBL Properties fell Thursday by more than 10.2 percent after the shopping center developer reported second quarter results. CBL earnings beat expectations, but the company’s profits fell by 8 percent from a year ago and the company warned it may cut its dividend.