Stocks in Motion: Marsh & McLennan
Updated from 11:23 a.m. EDT
Shares of Multimedia Games (MGAM) were among the Nasdaq's losers Friday after the company warned that fourth-quarter numbers won't meet Wall Street expectations.
The maker of casino games now expects earnings of 22 cents to 24 cents a share on sales of $139.1 million. Previously, the company expected earnings of 37 cents to 42 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 36 cents a share on sales of $147.9 million. Multimedia Games said that lower-than-expected sales of its player terminals led to the shortfall. Shares traded down $2.37, or 16.5%, to $11.98.
Bob Evans Farms (BOBE) fell 6.6% after the company warned that second-quarter earnings would fall short of expectations. The restaurant operator expects earnings of 25 cents to 30 cents a share, which is below analysts' forecast of 40 cents a share. The company said that recently launched customer satisfaction initiatives led to higher food and labor costs during the quarter. Bob Evans plans to release second-quarter earnings results on Nov. 15. Shares traded down $1.70 to $24.26.Shares of NSD Bancorp (NSDB) rose 52% after the company agreed to be acquired by FNB (FNB) for about $135.8 million in stock. NSD shareholders will receive 1.8 shares of FNB in a stock swap that is worth about $39 a share. The price represents a premium of about 62% to Thursday's closing price of $24.15. The deal, which is expected to close during the first quarter of 2005, will be accretive to FNB's earnings during 2005. Shares of NSD traded up $12.55 to $36.70. Shares of FNB traded down 48 cents to $21.19. EMC Insurance (EMCI) fell 11.4% after the company announced it would sell 3.8 million shares of its stock at $18.75 a share in a secondary offering. The company will sell 2 million shares in the offering and a selling shareholder, Employers Mutual Casualty, will sell 1.8 million shares. The offering price represents an 11.4% discount to Thursday's closing price of $21.16. Shares traded down $2.41 to $18.75.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV