Houston's Stage Stores (SSI - Get Report), a department-store operator, announced a 3-for-2 stock split and set plans to buy back up to $50 million worth of its shares. Stage also said it will likely bring in 2007 revenue between $1.61 billion and $1.64 billion, above the $1.57 billion consensus. Earnings per share, which reflect the stock split, are expected at $1.47 to $1.57. Shares were adding $2.85, or 9.6%, to $32.48.
CanTV (VNT) plummeted after Venezuelan President Hugo Chavez said he would put the telecom company under government control. Verizon (VZ) owns a quarter of the Venezuelan firm. CanTV shares were sinking $4.58, or 27%, to $12.26.
Spectrum Control (SPEC) sank after the electronics-systems maker posted disappointing fiscal fourth-quarter earnings. The Fairview, Pa., company nearly doubled its profits to $2 million, or 15 cents a share, from $1.1 million, or 8 cents a share, a year ago, but the results fell short of the company's prior guidance. Revenue, at $35 million, represents a 38% climb and beat Spectrum's previous forecast by $1 million. Shares were down 97 cents, or 9%, to $9.78.