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

Wednesday's Early Winners & Losers

Shares of Secure Computing (SCUR) plummeted in late trading Tuesday after the network security-products maker cut its second-quarter projections. The company predicts revenue of $38.5 million to $39 million, down from its May guidance of $43 million to $45 million.

Secure Computing expects to report a loss of $2.3 million to $2.8 million, prior to the recognition of a gain related to a tax-valuation allowance, compared with the company's prior forecast for a profit of $600,000 to $900,000. Excluding items, the company cut its EPS forecast to 5 cents to 6 cents from an earlier projection of 10 cents to 12 cents. Analysts polled by Thomson First Call had forecast earnings of 11 cents a share and revenue of $44.2 million.

Separately, the company said it is buying messaging-security company CipherTrust for $273.6 million. The price consists of $185 million in cash, 10 million Secure Computing shares and a $10 million seller note that is subject to certain performance obligations. CipherTrust shareholders will have a roughly 14% ownership position in Secure Computing. Shares tumbled $3.08, or 38%, to $4.99 after hours.

Shares of Ruby Tuesday (RI) moved higher after the restaurant operator posted better-than-expected fourth-quarter earnings and hiked its dividend. For the quarter ended June 6, Ruby Tuesday's profit rose to $31.7 million, or 53 cents a share, from $26 million, or 40 cents a share, a year earlier. Wall Street expected earnings of 51 cents a share. Revenue rose to $364.3 million from $295.4 million, while same-restaurant sales at company-owned restaurants increased 2.9%.

Looking ahead, Ruby Tuesday sees first-quarter earnings of 34 cents to 38 cents a share. For all of fiscal 2007, the company expects earnings of $1.70 to $1.75 a share. Analysts have an average estimate for earnings of 40 cents a share in the first quarter and $1.74 a share for the year.

Ruby Tuesday also said it plans to pay a semiannual dividend of 25 cents a share, a sharp increase over its previous payment of 2.25 cents. The company said the move is "prudent" based on its continued projected and increasing free cash flow. Shares jumped $1.02, or 4.4%, to $24.40 in after-hours trading.

1 of 2

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AT $2.92 0.00%
CTB $41.79 0.00%
MNST $136.90 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs