Early Stocks in Motion
Citi Trends (CTRN) posted third-quarter net income of $2.6 million, or 18 cents a share, up from $165,000, or 2 cents a share, a year ago. The earnings easily beat analysts' projection of 6 cents a share. The specialty clothing retailer reported revenue of $69.9 million, a rise of 52% from $46 million last year. Same-store sales increased 25%. For the full fiscal year, the company boosted its earnings forecast to $1 to $1.03 a share. Analysts predicted a profit of 85 cents a share. Citi Trends rose $3.20, or 9.2%, to $38 after hours.
Aetrium (ATRM), a supplier of technology and equipment used by the semiconductor industry, said it has received customer orders for multiple units of its 55V gravity feed test handlers, valued at more than $6 million. The company said the orders were placed by two U.S. integrated device manufacturers with facilities in Asia. The stock jumped 19 cents, or 6.3%, to $3.19 in after-hours.
Western Digital (WDC) said its board has authorized the purchase of an additional $150 million common shares. The new buyback is in addition to the original $100 million repurchase program initiated in May 2004. Under the original program, Western Digital has repurchased 8.78 million shares for about $87 million. Shares were higher by 13 cents, or 1%, to $13.68, after hours.
Hasbro (HAS) said that E. David Wilson, president of the Hasbro Games Segment, will retire on Dec. 31. Mr. Wilson has been Hasbro Games president since 1999 and will be replaced by Frank Bifulco, Jr., current president of U.S. Games. Hasbro was unchanged at $20.22.DaimlerChrysler (DCX) announced that it has reached an agreement with the Ontario and federal governments to invest $640 million in its Canadian operations. The plans include new investments in certain facilities, flexible manufacturing and automotive research and development. The stock was unchanged at $51.83.
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