This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks to Watch: Benchmark Climbs, but Genesis Micro Drops

The Day's Winners

  • A.C. Moore (ACMR) was gaining 4% to $44.74 after the company boosted its second-quarter outlook. The company, which operates arts and crafts stores, said its second-quarter sales were up 23% to $82.9 million from $67.1 million a year ago, while same-store sales were up 10%. Based on the sales performance, A.C. Moore said it now expects to exceed both Wall Street's consensus estimate of earnings of 2 cents a share and its own previous guidance of 2 cents to 3 cents.

  • Benchmark Electronics (BHE - Get Report) was climbing 6% to $27.72 after the company raised its sales and profit expectations for the second quarter. The circuit board and telecommunications equipment maker said it will earn between 29 cents and 31 cents a share on revenue of $380 million to $390 million. Wall Street had been looking for 26 cents a share. Benchmark also said that its third-quarter results should be flat to slightly up from the second-quarter's numbers.

  • Forest products company Georgia-Pacific (GP) tacked on 3.4% to $23.59 on an upgrade from CIBC World Markets. The brokerage firm moved Georgia-Pacific to buy from hold due to the company's ongoing restructuring efforts and what it called the company's "compelling valuation." CIBC said the stock appears to be priced too low to be ignored, despite the ongoing uncertainty with unresolved asbestos litigation and the company's debt level.

  • Shares of Noven Pharmaceuticals (NOVN) were rising 2% to $19.97 after the company said its second-quarter earnings will exceed its earlier forecast. Noven, which makes drug delivery skin patches, said it expects to earn more than its earlier 14 cents to 17 cents guidance, but the company didn't offer any more details. Analysts are looking for 17 cents a share in the quarter.

    The Day's Losers

  • Shares of Aspen Technology (AZPN) were plunging 40% to $4.19 after the company warned of a fourth-quarter revenue shortfall. Aspen said its revenue will be between $84 million and $85 million, down 8% from prior guidance of $92 million and below the consensus estimate of $86 million. Aspen said that, based on these numbers, it expects to post a loss of $4 million to $6 million for the quarter. The company blamed customer order delays and the uncertain market for the shortfall.

  • Genesis Microchip (GNSS) was dropping 7% to $6.82 on a downgrade from Prudential. The brokerage house cut its rating on Genesis to hold from buy based on a negative pricing outlook for Genesis' 15-inch IC products. Prudential also slashed its price target on the stock to $5 from $15.

  • Knight Trading Group (NITE) was shedding 8% to $4.29 after announcing a 10% workforce reduction and warning of lower than expected second-quarter results. The company expects to lose 4 cents to 6 cents a share in the quarter, excluding charges. Wall Street had been looking for break-even results. Knight also said it will take charges up to 15 cents a share, including up to 4 cents for the staff reduction. Knight added that its domestic equity operations remained profitable, but market conditions continued to affect all of its other businesses.

  • Overland Storage (OVRL) slid 5% to $13.78 after warning that order delays will cause its fourth-quarter results to be lower than expected. The company sees revenue in excess of $34 million for the quarter, but that's still below the company's original forecast and the consensus estimate of $41.9 million. Going forward, Overland said it has added a new customer that will contribute to earnings and revenue in the first half of 2003.

    Check Out Our Best Services for Investors

    Action Alerts PLUS

    Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

    Product Features:
    • $2.5+ million portfolio
    • Large-cap and dividend focus
    • Intraday trade alerts from Cramer
    Quant Ratings

    Access the tool that DOMINATES the Russell 2000 and the S&P 500.

    Product Features:
    • Buy, hold, or sell recommendations for over 4,300 stocks
    • Unlimited research reports on your favorite stocks
    • A custom stock screener
    Stocks Under $10

    David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

    Product Features:
    • Model portfolio
    • Stocks trading below $10
    • Intraday trade alerts
    14-Days Free
    Only $9.95
    14-Days Free
    Dividend Stock Advisor

    David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

    Product Features:
    • Diversified model portfolio of dividend stocks
    • Updates with exact steps to take - BUY, HOLD, SELL
    Trifecta Stocks

    Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

    Product Features:
    • Model Portfolio
    • Intra Day Trade alerts
    • Access to Quant Ratings
    Real Money

    More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

    Product Features:
    • Access to Jim Cramer's daily blog
    • Intraday commentary and news
    • Real-time trading forums
    Only $49.95
    14-Days Free
    14-Days Free
    OVRL $3.48 -7.93%
    AZPN $30.78 2.10%
    BHE $21.53 1.30%
    FB $101.82 -0.09%
    GOOG $680.70 -0.35%


    Chart of I:DJI
    DOW 15,929.84 +269.66 1.72%
    S&P 500 1,862.45 +33.37 1.82%
    NASDAQ 4,334.5250 +67.6880 1.59%

    Free Reports

    Top Rated Stocks Top Rated Funds Top Rated ETFs