Early Stocks in Motion
LMI Aerospace (LMIA) said it signed a $170 million tentative five-year agreement with Gulfstream Aerospace for wing and fuselage components and kits for the Gulfstream G450, G500 and G550. "With the execution of this agreement, we will have approximately 80% of our total expected revenue for 2006 under long-term agreements," said Ronald Saks, LMI's president and chief executive, in a statement. The stock jumped $2.33, or 33%, to $9.39 in after-hours trading.
American Eagle Outfitters (AEOS) said its October same-store sales rose 17.4%, while its total sales rose to $157 million from $127.9 million in the year-ago period. The teen-apparel retailer raised its third-quarter earnings forecast to 45 cents to 46 cents a share from its previous estimate of 43 cents to 44 cents. The company attributed the higher outlook to strengthened sales trends in October and a lower effective tax rate. The stock was up $1.89, or 7.7%, to $26.45 in after-hours trading.
Hot Topic's (HOTT) October same-store sales fell 5.7%. Total sales for the month rose 6% to $59.5 million. Based upon the sales results, the retailer now expects earnings to be at the low end of its previous guidance range of 15 cents to 18 cents a share. The stock dropped $1.02, or 6.8%, to $13.97 after hours.
Skyworks Solutions (SWKS) said it earned $3.1 million, or 2 cents a share, for the fourth quarter ended Sept. 30, down from $14.6 million, or 9 cents a share, a year ago. Excluding items, the company earned $8.9 million, or 4 cents a share. Revenue for the quarter dropped to $190.2 million from $218.1 million last year. Analysts expected the company to earn 4 cents a share on $190.6 million. The stock was down 35 cents, or 6.3%, to $5.20 in after-hours trading.
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