Winners & Losers

Return to Article

Wednesday's Late Winners & Losers

Sarina Penn

One of the most pronounced losers after the closing bell Wednesday among many stumbling stocks was plastic shoe maker Crocs (CROX Quote).

Shares of the Niwot, Colo., company plummeted 25.1% in heavy trading, despite a more-than-doubled third-quarter profit of 66 cents a share. That came in only 3 cents above analyst estimates from Thomson Financial. Crocs has tended to pummel quarterly expectations. Revenue of $256.3 million was a hair shy of the mean.

The company also raised its full-year guidance, now projecting earnings of $1.94 to $1.98 a share on revenue of between $820 million and $830 million. But the earnings forecast still leans to the lower end of consensus, and sales would just miss projections. Shares were sinking $18.75 to $56.

Smith Micro Software (SMSI Quote), which makes wireless communications software, slid 18.2% after third-quarter earnings plunged to $472,000, or 2 cents a share, from 9 cents a share last year. Excluding special items, that came to an in-line 21 cents a share. Still, shares of the Aliso Viejo, Calif., company shed $2.81 to $12.60.

Another couple of Californian tech names, Rambus (RMBS Quote) and JDS Uniphase (JDSU Quote), were also losing ground.

Chipmaker Rambus sharply narrowed its third-quarter loss from last year to 6 cents a share, but the sole analyst's estimate called for a profit of 2 cents a share. JDS, which makes communications test products and optical products, beat fiscal first-quarter estimates. But it also projected next-quarter revenue of $372 million to $394 million, which trends to the bottom end of the Street's consensus.

Rambus was down 2.6% to $19.28. JDS gave up 27 cents, or 1.8%, to $14.99.

On the other hand, Unum Group (UNM Quote) climbed 7.5% to $25.10 after the Chattanooga, Tenn.-based insurer swung to a profit from last year's GAAP-based loss. On an adjusted basis, continuing-operations income ratcheted up 30.4% to 60 cents a share, which flies past Wall Street's 51-cent targets. In addition, the company upped its 2007 earnings outlook by 13 cents to between $2.14 and $2.17 a share.

And Plexus (PLXS Quote), which offers product-realization services to original equipment manufacturers, surged 16.7% on positive earnings. The Wisconsin-based company pocketed a non-GAAP profit of $25.6 million, or 55 cents a share. That's a penny more per share than last year and exceeds Wall Street estimates by 7 cents a share. Shares were trading at $30.10.