Today's Winners and Losers: Wolverine World Wide

Shares of Wolverine World Wide(WWW Quote) were among the NYSE's winners Wednesday, jumping 15% after the footwear maker posted better-than-expected first-quarter results.

The company earned $19.6 million, or 34 cents a share, on revenue of $262.8 million. Analysts polled by Thomson First Call expected earnings of 30 cents a share and revenue of $261.4 million. During the year-earlier quarter, the company earned $16.1 million, or 27 cents a share, on revenue of $245.2 million. The company attributed the jump to strong growth at its Merrell brand and gross margin expansion.

Looking ahead, Wolverine World Wide now sees 2006 earnings at the top half of its previously projected range of $1.34 to $1.40 a share. The company continues to expect full-year revenue of $1.11 billion to $1.13 billion. Analysts project earnings of $1.36 a share on revenue of $1.13 billion. Shares were trading up $3.02 to $23.75.

Knight Capital (NITE Quote) shares climbed 16% after the financial services company posted first-quarter results that blew past estimates. The company earned $49.1 million, or 47 cents a share, on revenue of $276.5 million. Excluding items, the company earned $53.8 million, or 52 cents a share, above analysts' forecast of 30 cents. Revenue totaled $276.5 million, easily surpassing Wall Street's target of $194 million. During the year-earlier period, the company earned $5.8 million, or 5 cents a share, on revenue of $137.6 million.

"Knight employees' intense and concerted efforts over the last year implementing the strategic changes to our business model made our outstanding performance in the first quarter of 2006 possible," the company said. Shares were trading at $16.61, up $2.23.

Shares of Sonoco(SON Quote) slumped 9% after the packaging company posted mixed first-quarter results and projected second-quarter earnings below Wall Street expectations. For the first quarter, the company earned $45.1 million, or 44 cents a share, on revenue of $818.8 million. Sonoco posted adjusted earnings of $46.5 million, or 46 cents a share, which excluded a restructuring charge of 2 cents a share and included a favorable tax adjustment of 3 cents a share.

Analysts expected earnings of 45 cents a share and revenue of $859.5 million. During the year-earlier quarter, the company earned $37 million, or 37 cents a share, on revenue of $814.4 million. Excluding items, Sonoco's year-earlier earnings were $40.1 million, or 40 cents a share.