Wednesday's Winners & Losers: H.B. Fuller

Shares of H.B. Fuller(FUL) were among the NYSE's losers Wednesday, slumping 12% after the company posted disappointing second-quarter results.

The company, a maker of adhesives, sealants and other specialty chemical products, posted earnings of $19.5 million, or 65 cents a share, for the period ended June 3. Excluding a one-time item associated with an acquisition, the company would have earned 68 cents a share. Analysts polled by Thomson First Call expected earnings of 69 cents a share. H.B. Fuller's revenue totaled $388.5 million, below analysts' target of $422.2 million. During the year-earlier period, the company earned $16.2 million, or 56 cents a share, on revenue of $387.9 million. The year-ago earnings included several one-time items that added 4 cents a share to the bottom line.

Looking ahead, H.B. Fuller continues to forecast 2006 earnings of $2.49 to $2.59 a share, including settlement-related charges of 6 cents a share. Without the charge, the company expects earnings of $2.55 to $2.65 a share. Analysts project earnings of $2.66 a share. Shares were trading down $5.68 to $42.20.

Hexcel(HXL) fell 5% after the company cut its 2006 revenue outlook, citing the production delays for the new Airbus A380 jet. Hexcel, a maker of lightweight materials used in the commercial aerospace and defense industries, said revenue growth for the year could now be in the low-single-digit range. Previously, the company forecast revenue growth of 10%. Analysts project 2006 revenue of $1.28 billion, or growth of about 10%.

Hexcel said the Airbus delay will likely reduce commercial-aerospace revenue growth for the second half of 2006 and first half of 2007. "The amount and timing of the impact will depend upon the instructions from Airbus to its suppliers to this program regarding continued part production during the period of delay," Hexcel said. Shares were trading down 67 cents to $14.72.