Odyssey HealthCare (ODSY Quote) was up after the hospice-care company was upgraded by Deutsche Securities to buy from hold. Noting that the company is in the middle of a turnaround, analysts said "we believe (the company's) operational strategy is fundamentally stronger and new senior management should be able to deliver on better (year-over-year) results."
Shares of Odyssey gained $1.31, or 8%, to $17.72. American Railcar Industries (ARII Quote) slipped after the railcar maker said an April 2 tornado had destroyed part of its Marmaduke, Ark., facility. The tornado also destroyed a nearly completed structure that was to receive inbound material and store inventory. The company said the clean-up of debris is almost finished. American Railcar expects to begin the reconstruction shortly. Also, Morgan Keegan downgraded the stock to market-perform from outperform. Shares dropped $2.71, or 6.9%, to $36.32. Industrial Services of America (IDSA Quote), a logistics-management firm that offers waste and recycling services, jumped more than 50% after the company said its first-quarter earnings rose to $416,526, or 12 cents a share, from $149,088 and 4 cents a share last year. Revenue for the first quarter fell to $14.5 million from $29.7 million last year because of a reduction in management-fee revenue. Shares of Industrial Services were up $2.61 to $7.58. Rotech Healthcare (ROHI Quote), a provider of home medical-care services and equipment, was sinking more than 10% after the company's shares were downgraded. CIBC World Markets cut its rating on the stock to sector-underperform from sector perform and said Rotech will probably report a loss for the year. The downgrade follows an announcement from Rotech last week in which the company said it received Medicare reimbursement payments for compounded budesonide at a lower rate. If the new reimbursement rate is upheld by regulatory authorities, Rotech said it would reduce the company's revenue for 2006 by roughly $30 million and its earnings by 68 cents a share. Shares of Rotech were losing 66 cents to $5.86.- Loading Comments...
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