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: Pentair

Shares of MTC Technologies (MTCT) were among the Nasdaq's losers Tuesday, falling 20% after the company posted second-quarter earnings that fell short of expectations and warned that third-quarter results would fall short of Wall Street forecasts.

The company, which provides system engineering, technical and management services to the federal government, earned $5.1 million, or 32 cents a share, on sales of $89.7 million. Analysts polled by Thomson First Call were expecting earnings of 34 cents a share on sales of $91.1 million. A year ago the company earned $4.2 million, or 27 cents a share, on sales of $62.7 million.

Looking ahead, MTC Technologies forecast third-quarter earnings of $5.05 million to $5.55 million, or 32 cents to 35 cents a share, on sales of $96.2 million to $101.2 million. Analysts had been expecting earnings of 41 cents a share on sales of $110.7 million. "The ongoing global war on terror and other factors are causing delays in the bidding/award process and are affecting funding availability and the availability of assets to be repaired or upgraded," the company said. Shares were trading down $7.68 to $30.05.

Pentair (PNR) fell 9% after the company posted second-quarter earnings that matched forecasts but warned that third-quarter earnings would be well below analysts' expectations. The water-treatment products company earned $64.5 million, or 63 cents a share, on sales of $788.5 million. Analysts were expecting earnings of 63 cents a share on sales of $786.8 million. A year ago the company earned $42 million, or 42 cents a share, on sales of $530.4 million. Looking ahead, Pentair forecast third-quarter earnings of 43 cents to 47 cents a share. Analysts had been expecting earnings of 54 cents a share. Shares were trading down $4.09 to $40.39.

Shares of Rent-A-Center (RCII) fell 6% after the rent-to-own operator posted second-quarter earnings that were a penny short of expectations and said that third-quarter earnings would be weaker than expected. The company reported pro forma earnings of $39.6 million, or 52 cents a share, on sales of $580.6 million. Analysts were expecting earnings of 53 cents a share on sales of $575.1 million. A year ago the company earned $51.2 million, or 62 cents a share, on sales of $573 million. The company said the year-over-year decline in earnings was attributed to a decrease in same-store sales and higher operating expenses.

Looking ahead, Rent-A-Center said that its business environment remains challenged. "We currently have fewer agreements on rent relative to our prior expectations due to weaker than expected demand in June and to date in the month of July," it said. The company forecast third-quarter earnings of 38 cents to 42 cents a share on sales of $572 million to $580 million. Analysts had been expecting earnings of 51 cents a share on sales of $571.7 million. Shares were trading down $1.47 to $21.86.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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