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

Cooper Companies (COO - Get Report) tumbled 10.5% following the closing bell Tuesday after the California-based outfit posted a drop in full-year 2006 earnings and deflated its 2007 outlook.

The company, which makes health care supplies, did earn more in the quarter ended Oct. 31 -- $13.6 million, or 30 cents a share -- compared with year-ago income of $8.6 million, or 19 cents a share. But fourth-quarter revenue dipped 2%, and full-year fiscal 2006 earnings fared even worse, dropping to $66.2 million, or $1.44 a share, compared with $91.7 million, or $2.04 a share, in 2005. Full-year revenue edged up only 6% to $859 million, missing Wall Street estimates by some $20 million, according to Thomson Financial.

The company now expects its 2007 earnings to range between $2.90 to $3.05 a share, excluding items, down from its previous forecast of $3.35 to $4. Revenue guidance was cut, as well, to range between $920 million and $960 million, from its previous prediction of $948 million to $1 billion. This still covers Wall Street's $958.9 million expectations, but shares were down $5.20, or 10.5%, to $44.25, in after-hours trading.

Martek Biosciences (MATK) shot up on increased revenue for the quarter and year ended Oct. 31, despite plunging GAAP profits largely blamed on a one-time $3 million restructuring charge. The Columbia, Md.-based company posted fourth-quarter GAAP income of $641,000, or 2 cent a share, compared with $4.9 million, or 15 cents a share, a year ago. But non-GAAP income, which takes into account the charge and stock-based compensation, came to $4 million, or 12 cents a share.

Revenue increased 20% to $56 million for the quarter, with full-year 2006 revenue swelling 24% to $270.7 million. GAAP income for the year totaled $17.8 million, or 55 cents a share, compared with $15.3 million, or 48 cents a share, last year. But non-GAAP 2006 earnings reflect a more dramatic increase -- a total of $22.9 million, or 71 cents a share -- without the charges. Shares were up $1.19, or 5.1%, to $24.55.

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
COO $181.04 0.40%
PRLS $6.96 -0.29%
AAPL $128.02 2.60%
FB $84.02 4.00%
GOOG $537.50 2.60%

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs