This Day On The Street
Continue to site
ADVERTISEMENT
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

Today's Winners and Losers: Manitowoc

Shares of ElkCorp (ELK) were among the NYSE's losers Tuesday, falling 7% after the maker of roofing and building products cut its third-quarter earnings guidance.

The company now projects earnings of 40 cents to 43 cents a share for the March quarter, down from an earlier forecast of 50 cents to 53 cents a share. Analysts polled by Thomson First Call project earnings of 53 cents a share. For the full fiscal year, the company sees earnings at the low end of its previous range of $2.25 to $2.40 a share. Analysts project earnings of $2.35 a share.

"The reduced earnings per diluted share estimate for the third quarter is primarily attributed to slower than anticipated ramp-up of sales into the Florida storm areas, higher asphalt and transportation costs and lower than expected decking shipments in the composites business," the company said in a statement. ElkCorp plans to release third-quarter results on April 25. Shares were trading down $2.64 to $33.60.

Manitowoc (MTW - Get Report) rose 8% after the maker of heavy-lifting equipment said that first-quarter earnings would be well above Wall Street expectations. The company sees first-quarter earnings topping analysts' average estimate by at least 20 cents a share. Analysts project earnings of 62 cents a share, according to First Call. "The crane business has continued to outperform even our own high expectations," the company said. "We are extremely pleased with our success in working through production challenges common in this high demand environment."

For 2006, the company now sees earnings of $3.75 to $4 a share, up from an earlier view of $3.30 to $3.60 a share. Analysts project earnings of $3.65 a share. Manitowoc shares recently traded up $6.64 to $88.49.

Shares of Intermec (IN - Get Report) rose 3% after the company announced a $100 million share repurchase plan. The company, which makes supply-chain management systems, said it will use available cash and cash equivalents to fund the stock buyback. At the end of 2005, cash and equivalents stood at about $257 million. Intermec shares were up 90 cents to $31.74.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
IN $10.00 -0.10%
EMC $27.12 0.00%
F $15.81 0.00%
HYGS $12.11 0.00%
MTW $19.80 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs