Stocks to Watch: Perry Ellis Pops, EGL Tumbles
WinnersEnergy trader Dynegy (DYN) was rising 11% to $9.58 a day after the company said its board named a "lead director" as part of the overall effort to regain credibility with investors. J. Otis Winters, who will hold the newly created position, has served on Dynegy's board since 1993. Winters is the retired co-founder and chairman of PWS Group, a Dallas-based consulting and crisis management firm. NS Group (NSS), a supplier of tubular products to the energy industry, was climbing 10% to $8.87 after Raymond James upgraded the company to strong buy from market perform.
Perry Ellis (PERY) reported first-quarter earnings of 75 cents a share, up from 58 cents in the year-ago period, and the clothing designer's shares jumped 17% to $16.87. Domestic sales increased 3.9% to $77.7 million, but worldwide sales decreased 2.8% to $78.6 million.
LosersDycom (DY) revised its third-quarter financial guidance up slightly, but the company said it had been notified by a major customer to suspend work on all of that customer's pending projects. The company, which provides engineering, construction and maintenance services to telecom providers, saw its shares slide 7% to $13.08. EGL (EAGL) was sinking 10% to $16.48 after Morgan Stanley downgraded the transportation and supply chain management company to underweight from equal-weight. Epix Medical (EPIX), a developer of specialty pharmaceuticals for magnetic resonance imaging, was falling 9% to $10.45 after the company posted a first-quarter loss of 28 cents a share. The company lost 36 cents in the year-ago period. Revenue totaled $2.1 million.
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