This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Stocks in Motion: SCS Transport

Updated from 11:42 a.m. EDT

Shares of SCS Transportation (SCST) were among the Nasdaq's losers Monday after the company warned that third-quarter earnings would not meet Wall Street's expectations.

The transportation company now expects third-quarter earnings of 41 cents to 47 cents a share vs. previous guidance of 51 cents to 57 cents a share. Analysts polled by Thomson First Call were expecting earnings of 55 cents a share. SCS cited lower-than-anticipated revenue growth -- caused by slower tonnage growth and declines in weight per shipment -- and higher operating expenses. Shares of SCS traded down $6.70, or 27.4%, to $17.80.

Robert Mondavi (MOND) rose after the California company said it would eliminate its class B shares as part of a reincorporation and approved a $30 million repurchase plan. Eliminating the class B shares would effectively reduce the controlling voting rights that are held by the Mondavi family. Their supervoting rights would be exchanged for 1.165 shares of the company, which is being reincorporated in Delaware. If the plan were approved, class B shareholders' financial interest would increase to 39.5% from 35.9%. However, their voting power would be reduced to 39.5% from 84.9%. The winemaker's $30 million repurchase plan would become effective after the elimination of its class B shares. Shares of Robert Mondavi traded up $3.51, or 9.4%, to $40.69.

Shares of Hastings Entertainment (HAST) fell after the company posted second-quarter earnings that were weaker than expected. The retailer earned 4 cents a share during the second quarter on sales of $122.4 million. Analysts were expecting Hastings to earn 8 cents a share. Hastings also reiterated its full-year earnings outlook of 50 cents to 53 cents a share. Wall Street, however, is expecting full-year earnings of 55 cents a share. Shares of Hastings Entertainment traded down 78 cents, or 10%, to $7.02.

Arch Coal (ACI) rose after it completed its $364 million acquisition of Triton Coal. The Federal Trade Commission had previously attempted to block the merger. The FTC made a last-ditch effort late last week to get an emergency injunction to block the transaction, but a U.S. appeals court denied its request. In addition to the merger news, Arch also reaffirmed earnings guidance of 15 cents to 25 cents a share during the third quarter. Analysts are expecting third-quarter earnings of 21 cents a share. Shares of Arch Coal traded up 37 cents, or 1.2%, to $32.21.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,400.07 +208.70 1.21%
S&P 500 2,017.51 +15.35 0.77%
NASDAQ 4,670.0640 +32.07 0.69%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs