Tuesday's Early Winners & Losers
Palm (PALM) dropped after the mobile-device maker forecast slashed results for the quarter ended Dec. 1 due to a delay of the launch of its Treo 750 product.
The Sunnyvale, Calif.-based company now expects GAAP earnings of 10 to 11 cents a share, which compares with its previous guidance of 15 to 16 cents a share. Revenue guidance was cut to a range between $390 million and $395 million from the prior outlook of $430 million to $450 million. Palm had expected the Treo 750 to ship during the current quarter, but due to certification delays it now expects the product to ship during the following quarter. Shares were down 69 cents, or 4.5%, to $14.68.
Chicago-based Stratos International (STLW) ballooned 7% in after-hours trading Monday after the company shot past Wall Street's downside expectations for the quarter ended Oct. 31 and swung to a respectable profit.
The company earned $748,000, or 5 cents a share, beating the 4-cents-a-share loss predicted by analysts, according to Thomson Financial. The results compare with a loss of $434,000, or 3 cents a share, a year ago. Top-line figures increased 22% year over year, totaling $23.2 million, including $200,000 in license fees and royalties. Analysts were looking for revenue of $22 million. Shares were trading up 49 cents to $7.49.Donaldson (DCI) shares jumped on improved results for the quarter ended Oct. 31. The Minneapolis-based maker of filtration products met Wall Street earnings projections, posting income of $36 million, or 43 cents a share, compared with $32.2 million, or 37 cents a share, a year ago. Sales for the quarter climbed 11% from a year ago to $446.4 million, topping the $442 million consensus estimate. Looking ahead, the company expects full-year fiscal 2007 earnings of $1.72 to $1.82 a share, in line with analysts' mean estimate of $1.76 a share. Shares were up $1.91, or 5.2%, to $38.91.
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