Stocks in Motion: Zions
Shares of Pilgrim's Pride (PPC) were among the NYSE's winners Monday, rising 9% after the company raised its third-quarter earnings guidance.
The poultry company now expects earnings of $1.17 to $1.22 a share, up from earlier guidance of 81 cents to $1 a share. Analysts polled by Thomson First Call had been expecting earnings of 93 cents a share. The company attributed the revised guidance to better results at its U.S. and Mexico chicken operations.
Looking ahead, Pilgrim's Pride left its fourth-quarter earnings guidance of 73 cents to 91 cents a share intact. Analysts are expecting earnings of 85 cents a share. Shares were recently trading up $3.36 to $39.33.
Helen of Troy (HELE) fell 6% after the personal care products company posted first-quarter earnings that fell short of expectations. The company earned $10.5 million, or 33 cents a share, on sales of $127.4 million. Analysts were expecting earnings of 39 cents a share. A year ago the company earned $14.5 million, or 44 cents a share, on sales of $107 million. Despite the first-quarter earnings shortfall, Helen of Troy reaffirmed its full-year earnings guidance of $2.50 to $2.60 a share on sales of $615 million to $640 million. Analysts are expecting earnings of $2.39 a share. Shares were trading down $1.62 to $24.33.Shares of Dreamworks (DWA) fell 14% after the company cut its second-quarter earnings outlook; said the Securities and Exchange Commission is informally probing trading in its stock; and announced the withdrawal of a $500 million secondary offering. The animation studio now expects to post a loss of 7 cents to 9 cents a share, down from earlier guidance that called for break-even results. Analysts had been expecting a profit of 9 cents a share. Regarding the SEC probe, the company said the informal inquiry concerns trading in its stock and the disclosure of its financial results on May 10.
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