EGL (EAGL) was climbing higher after main shareholder and CEO James Crane renewed his $36-a-share bid to take the freight company private, this time leading a group consisting of Centerbridge Partners and The Woodbridge Co.
Earlier this month shares of the Houston-based firm plunged after General Atlantic, Crane's former partner in the buyout offer, backed out in a reaction to soft fourth-quarter guidance. EGL also officially issued those weak numbers -- income of $10.9 million, or 27 cents a share, compared with $19.1 million, or 47 cents a share, last year. But EGL shares were rising $1.89, or 5.7%, to $35.36.
Novatel Wireless (NVTL) said after the market close Tuesday that fourth-quarter non-GAAP profits rose to $4.4 million, or 14 cents a share, up from break-even last year. Revenue surged 58% to $77 million. The Street expected income at 6 cents a share on $76.1 million sales. The San Diego-based wireless-equipment maker was gaining 50 cents, or 3.9%, to $13.26.
Syniverse (SVR), which sells services to the wireless-telecom industry, slid on dwindling profits. The Tampa, Fla., company posted adjusted fourth-quarter income of $11.5 million, or 17 cents a share, on sales that inched up 2.7% from last year to $85.8 million. Year-ago income came to $14.8 million, or 22 cents a share. Analysts were seeking 24 cents a share on $85.1 million in revenue.Looking ahead, Syniverse expects 2007 sales of between $325 million and $335 million, at least $23 million under expectations. Shares were falling $2.17, or 15.5%, to $11.87.