Thursday's Early Winners & Losers
Herman Miller (MLHR) plunged some 7% in after-hours trading Wednesday on disappointing results for the quarter ended March 3. The Michigan-based interior-furnishings maker said it earned $32.3 million, or 50 cents a share, which misses Thomson Financial estimates by 2 cents despite its sharp rise from a year-ago profit of 33 cents a share. Sales were up 14.3% to $484.8 million, which was slightly under the $491.4 million average projection.
Looking ahead, Herman Miller expects next-quarter earnings to range between 47 cents and 51 cents a share -- at least a penny under the consensus. Shares were down $2.85 to $35.
RCM Technologies (RCMT) surged more than 25% on word the business-technology firm made $2.3 million, or 19 cents a share, in the fourth quarter -- a 12-cent per-share leap from last year. The analyst who follows the company was looking for 9 cents a share. The New Jersey-based small-cap was rising $1.62 to $8.
Komag (KOMG) was higher on news it intends to repurchase an unspecified number of its shares. In order to do this, the maker of hard-disk-drive components will offer $200 million in convertible subordinated bonds, along with an additional $30 million worth for initial purchasers to cover any overallotments. Shares of the San Jose, Calif., company were gaining 88 cents, or 2.7%, to $33.45.IHS (IHS), a business-software firm based in Englewood, Colo., gained after it reported per-share earnings of 32 cents for the quarter ended Feb. 28 -- a 23.1% increase from last year. Revenue rose 17.5% from last year to $152.6 million, topping the $148 million consensus estimate. In addition, the company now expects year-over-year sales growth at a percentage-point higher than before -- 11% to 13% -- meaning a top line of between $611.4 million and $622.4 million, based on 2006 figures. This is in line with Wall Street targets. Shares were trading up $1.02, or 2.6%, to $40.98.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV