Shares of Expedia(EXPE Quote) were among Nasdaq's winners Friday, rising 8% after the online travel company posted third-quarter results that beat Wall Street forecasts.
The company earned $82 million, or 23 cents a share, on sales of $584.7 million. Excluding items, Expedia would have earned $126.9 million, or 35 cents a share. Analysts polled by Thomson First Call were expecting earnings of 31 cents a share, before items, and sales of $570.7 million. The company's year-earlier earnings were $58.1 million, or 17 cents a share, on sales of $503.8 million. Excluding items, the company would have earned $110.2 million, or 32 cents a share, in last year's quarter. Shares recently traded up $1.74 to $22.45. Honeywell(HON Quote) rose 1% after the company announced a $3 billion buyback plan. "Excellent operating and financial performance, coupled with a strong balance sheet, provide us with the flexibility to launch an expanded share repurchase program," the company said. Since the fourth quarter of 2003, Honeywell has repurchased about 42 million shares, or about $1.5 billion in stock. Shares were trading up 44 cents to $35.87. Shares of Boyd Gaming(BYD Quote) rose 8% after the casino operator posted third-quarter earnings that topped forecasts. The company reported earnings of $32.9 million, or 36 cents a share. Excluding items, the company would have earned $51.4 million, or 57 cents a share, above analysts' estimates of 51 cents. Boyd posted sales of $536.5 million, below Wall Street's forecast of $542.5 million. Last year, Boyd's third-quarter earnings totaled $35.5 million, or 40 cents a share, on sales of $522.5 million. Excluding items, the company would have earned $33.3 million, or 38 cents a share, a year ago. Shares recently traded $3.43 higher to $46.60. Shares of Pope & Talbot (POP Quote) tumbled nearly 11% after the company posted a third-quarter loss and suspended its dividend. The pulp and wood products company swung to a loss of $8.8 million, or 54 cents a share, compared with a year-earlier profit of $7.8 million, or 48 cents a share. Still, the loss was narrower than analysts' mean estimate of 63 cents a share. Revenue rose to $212.7 million from $199.1 million a year earlier. The company attributed the red bottom line to market price decreases for its pulp and lumber businesses, as well as increases in cost of goods sold.- Loading Comments...
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