Sports-technology company gains funding, new CEO
F5 Sports Inc., a Winston-Salem-based sports technology company, said Thursday that it has secured $2.1 million in seed funding and has hired David Rose as chief executive.
Rose has more than 20 years of leadership experience with Fortune 500, high-growth and start-up companies, most recently as chief executive of Prsonas.
F5 Sports has developed the pitchLogic baseball and mobile app, which allow pitchers at all levels to access information that until now has been limited primarily to professional pitchers. The technology is being used by pitchers from all 30 Major League Baseball teams.
The company said it plans to use the funding to accelerate product development and scale up marketing and operations that includes expanding awareness and facilitating adoption of pitchLogic in the marketplace.
Hibbett Sports opens second Winston-Salem store
Hibbett Sports said Thursday it has opened its second Winston-Salem store at 1223 Silas Creek Parkway in Parkway Plaza shopping center.
The 5,600-square-foot store will offer services that include buy and reserve online, pick up in store and curbside pickup.
GNC closes Greensboro store as part of five in N.C.
The GNC retail chain has said it will close its store at Four Seasons Town Center in Greensboro as part of five in North Carolina.
The company filed for Chapter 11 bankruptcy protection Tuesday night in response to the COVID-19 pandemic’s impact on its business.
It plans to close between 800 and 1,200 stores as it pursues a potential buyer, including 248 shortly.
The other N.C. stores are: The Arboretum Shopping Center, Blakeney Shop Center and Southpark Mall, all in Charlotte; and Cross Pointe Center in Jacksonville.
Banks lead gains for stocks in jumpy trading
Financial companies led stocks broadly higher on Wall Street Thursday as traders welcomed news that the Federal Reserve and other regulators are removing some limits on the ability of banks to make investments.
The S&P 500 climbed 1.1% following a jumpy day of trading. At one point, the index was down 0.9% before the rally strengthened toward the end of the day. The gains reversed some of the S&P 500’s losses from a day earlier, when the market had its biggest drop in nearly two weeks.
Banks surged after the Fed and four regulatory agencies announced they’re going to change a rule that has limited banks’ ability to make investments in such areas as hedge funds.
The rule change could free up billions of dollars in capital in the banking industry.
Technology and health care stocks also helped lift the market, outweighing losses in utilities.
Bond yields fell, a sign of caution in the market.