The Day's WinnersVending machine food distributor and name brand food marketer International Multifoods (IMC) was climbing about 3% to $27.57 after the company said its earnings and sales were up for the quarter. The company earned $4.9 million, or 25 cents a share, on an operating basis, up from $2.1 million, or 11 cents a share, a year ago and ahead of the consensus estimate of 21 cents. Sales rose 17%, mainly on the strength of its recently acquired Pillsbury dessert business. Going forward, the company said it still expects to earn $1.90 to $2 a share for the year excluding charges, in line with the consensus forecast of $1.95. Shares of metal manufacturer Material Sciences (MSC) rose 5% to $13.35 in on news that its first-quarter profits more than doubled. The company earned $2.2 million, or 15 cents a share, from continuing operations in the quarter, up from $800,000, or 6 cents a share, a year ago. Sales were up 8.6%. Material said that, including its recent sale of its Pinole Point Steel division, it earned $5.85 million, or 40 cents a share, in the quarter, up from a year-ago loss of $1.65 million, or 12 cents a share.
Meade Instruments (MEAD - Get Report), a maker of binoculars and telescopes, tacked on 3% to $5.40 after posting a narrower first-quarter loss on increasing sales. The company said it lost $507,000, or 3 cents a share, in the quarter, compared with a loss of $798,000, or 5 cents a share, a year ago. Excluding charges, Meade lost 2 cents a share, in line with the consensus estimate. Sales increased 24% to $20.1 million, and the company said it expects its second-quarter results to improve upon last year's. Riverstone Networks (RSTN) was gaining 6% to $2.50 on signs of business stability, despite posting a wider first-quarter loss that missed the consensus estimate. The company lost $15.3 million, or 12 cents a share, excluding charges, compared with a loss of $3.6 million, or 3 cents a share, a year ago. The results were in line with the company's lowered guidance, but missed the consensus estimate of 11 cents a share. Riverstone said it expects the second-quarter's revenue to be flat with the first.