Friday's Winners & Losers: Cascade

Cascade(CAE) was among the NYSE's winners Friday, as shares jumped 9.9% after the company posted better-than-expected first-quarter results.

The farm and construction industry machinery maker posted earnings of $23.8 million, or $1.90 a share, on revenue of $135.5 million. Excluding a one-time gain, the company earned $13.4 million, or $1.07 a share. Analysts polled by Thomson Financial expected a profit of 93 cents a share on revenue of $128 million. During the year-earlier quarter, the company reported a profit of $11 million, or 84 cents a share, on revenue of $117.8 million. Shares were trading up $6.59 to $72.29.

McDonald's(MCD) rose 1.4% after the fast food giant posted solid May sales. The company posted system-wide sales growth of 11.9% during May on a worldwide basis. For the U.S., the company posted same-store sales growth of 7.4%. In Europe, the company posted sales of 8.9%. "May marks another month of strong sustained sales and shows how well we are providing solutions for today's busy lifestyles, with the convenience and value that customers expect from McDonald's," the company said. Shares were trading up 85 cents to $51.06.

Shares of Nordstrom(JWN) rose 1.6% after Bear Stearns upgraded the department store operator to outperform from peer perform. The firm said that the company's stock price does not reflect its strong sales and earnings growth. Bear Stearns has a $60 price tag on the stock. Shares were recently trading up 73 cents to $52.20.

Nike(NKE) slipped 3.4% after Banc of America Securities downgraded the athletic shoemaker to neutral from buy. The firm said that the U.S. market could see heavier discounting, slower growth and increased inventory levels. Banc of America also downgraded shares of Foot Locker(FL), citing the same issues that confront Nike. Shares of Nike were trading down $1.79 to $52.31, while shares of Foot Locker were trading down 23 cents to $21.31.

Shares of Administaff(ASF) rose 3.3% after the human resources firm boosted its stock buyback program. The company is now authorized to buy up to 10.5 million shares, up from its previous authorization of 9.5 million shares. Year to date, the firm has bought more than 1.2 million shares. Shares were trading up $1.22 to $35.67.

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