Tuesday's Early Winners & Losers
Shares of American Commercial Lines (ACLI) rose in late trading Monday after the marine transportation and service company raised its fiscal-year earnings projections, citing a strong demand and rate environment. American Commercial Lines now sees 2006 earnings of $2 to $2.20 a share, up from a previous estimate of $1.70 to $1.90. For the second quarter, the company forecast earnings of 48 cents to 53 cents a share. Analysts polled by Thomson First Call were looking for a profit of $1.92 a share for the year and 40 cents a share for the second quarter. The company also announced a new $3 million employee wage and enhanced benefit package. Shares jumped $3.85, or 7.5%, to $54.99 after hours.
Cytokinetics (CYTK) gained after the biopharmaceutical company said it extended the research term under its strategic alliance with GlaxoSmithKline (GSK) for an additional year. The strategic alliance, initiated in June 2001, included a minimum five-year research term. The companies have been focusing on developing inhibitors for mitotic kinesins, which play a role in cancer development. The alliance so far has generated two drug candidates. Cytokinetics shares gained 45 cents, or 6.6%, to $7.25 after hours.
Shares of Omnova Solutions (OMN) rose after the specialty chemicals company said second-quarter income jumped to $5.3 million, or 13 cents a share, from $3.6 million, or 9 cents a share, a year earlier. Revenue for the quarter ended May 31 declined 2.2% to $204.6 million. Wall Street was looking for earnings of 11 cents a share. The company credited the higher earnings to margin improvements. Shares gained 24 cents, or 4%, to $6.19 after hours.
Progressive Gaming (PGIC ) shares sank after the maker of systems for the gaming industry posted worse-than-expected first-quarter results. The company reported a loss of $8.8 million, or 26 cents a share, compared with income of $400,000, or 2 cents a share, a year earlier. The most recent quarter included charges totaling about $5.5 million, or 16 cents a share. Revenue fell to $16.9 million from $22.9 million a year ago. Analysts expected the company to post break-even results, with revenue of $21.1 million.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV