This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Friday's Winners & Losers: RadioShack

Shares of LaBranche (LAB) were among the NYSE's losers Friday, tumbling 21% after the specialist trading firm warned of a big second-quarter loss.

The company sees a loss of about $23 million, with an operating loss of about $5 million, or 8 cents a share. LaBranche also said its loss would include noncash costs of about $17 million related to a decline in the estimated fair value of the restricted shares of NYSE Group (NYX) that it owns. The company attributed the operating loss to a decline in principal trading revenue in its specialist and market-making business. LaBranche expects to post principal trading revenue of about $20 million, down significantly from the $47 million it posted during the year-earlier quarter. "These lower principal trading results were due to adverse market conditions in May and June 2006," the company said. Shares were trading down $2.65 to $9.79.

3M (MMM - Get Report) slid 7% after the consumer and industrial conglomerate warned that second-quarter earnings would miss its previous guidance. The company continues to expect earnings of $1.14 to $1.17 a share, but that now includes one-time gains of 8 cents to 10 cents a share. Without the one-time items, earnings would be below earlier guidance. On the top line, 3M sees revenue of about $5.7 billion. Analysts polled by Thomson First Call project second-quarter earnings of $1.17, excluding the one-time items, and revenue of $5.71 billion. "This second quarter performance was impacted in large part by lower than expected sales volumes and higher than anticipated new capacity start-up costs in the optical systems division, a part of 3M's display and graphics business segment," the company said.

For all of 2006, 3M anticipates earnings of $4.55 to $4.65 a share, including the one-time gains of 8 cents to 10 cents a share. Analysts project earnings of $4.66 a share. Shares were down $5.96 to $75.43.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
RSH $0.31 12.76%
AMH $16.83 0.00%
AMD $2.31 0.00%
MMM $157.68 0.00%
SHLD $40.52 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs