Drinks distributor Leading Brands (LBIX - Get Report) was jumping 40% following its latest quarterly financial report. The company said it earned $265,000, or 2 cents a share, in the first quarter, compared with $300,000 and 2 cents a share a year ago. Gross revenue totaled $13.2 million, up from $9.2 million last year.
Leading Brands Chairman and CEO Ralph McRae said he was "extremely pleased with the pace at which our sales continue to grow. When you reflect upon the fact that we are still a relatively small company in an extremely large industry, the potential for additional growth is really quite amazing." Shares of Leading Brands advanced $1.35 to $4.70.
Digital Music Group (DMGI) has acquired Chancellor Records, including the master recordings of its entire catalog that consists of more than 2,000 tracks. Chancellor was founded in 1957 by Bob Marcucci and Pete DeAngelis, and produced hits from artists like Fabian and Frankie Avalon.
Digital, a distributor of digital-music recordings focused on past hits and out-of-print recordings, said the catalog features two No. 1 singles, 13 top-10 songs and 27 top-40 recordings. Digital's shares were up by 46 cents, or 9.9%, to $5.10.Shares of Landry's Restaurants (LNY) gained after it was upgraded by Sanders Morris Harris to buy from hold. Analysts said the restaurant operator's positives include a strong portfolio of well-organized brands, such as Joe's Crab Shack, Rainforest Cafe and the Golden Nugget, substantial real estate holdings and solid cash flow generation. Landry's climbed $1.52, or 5%, to $31.66. Leaf-tobacco merchant Alliance One International (AOI - Get Report) slumped after the company posted a wider fourth-quarter loss than it did last year. After Friday's close, Alliance One said it lost $323.4 million, or $3.76 a share, compared with a loss of $3.81 million, or 8 cents a share, a year ago. Revenue totaled $581.3 million, down from $318.4 million. The underlying loss for the quarter was $14.4 million, or 17 cents a share, compared with a loss of $1.3 million, or 3 cents a share, a year ago. Looking ahead, the company said it expects underlying earnings of 18 cents to 25 cents a share for the fiscal year ending March 31, 2007. Shares slipped 34 cents, or 7.8%, to $4. InterOil (IOC) was higher following news from the company that it had a gas and liquids discovery at its Elk #1 facility in Papua, New Guinea. While information from the well to date is positive, the company said in a statement, the data and the current interpretation are provisional and subject to confirmation after further drilling and testing. Shares gained $1.54, or 9.4%, to $18.