Wednesday's Late Winners & Losers
Rio Narcea Gold Mines (RNO) climbed nearly 9% after the closing bell Wednesday as the Spain-based company swung to a 2006 profit of $70.7 million, or 43 cents a share, compared with a 27-cent per-share loss in 2005. Sales more than doubled to $225.7 million, buoyed mostly by soaring nickel-operations revenue. Shares were up 34 cents to $4.19 in recent after-hours action.
Altera (ALTR) gained after initiating a 4-cent per-share dividend and adding 50 million shares to its current stock-repurchase program. There are now 57 million shares remaining for buyback. The San Jose, Calif., semiconductor firm was recently up 45 cents, or 2.2%, to $20.50.
Chipmaker RF Micro Devices (RFMD) slid after hours on word the Greensboro, N.C., company will offer about $300 million in convertible subordinated bonds. Half the bonds are due 2012 and the other half are due 2014. There's a $25 million initial-purchaser option for each set to cover any overallotments. Shares were sinking 38 cents, or 5.4%, to $6.69.
Resources Connection (RECN), a California-based management services firm, said per-share income slipped by a penny from last year to 26 cents a share, or $13.1 million, for the quarter ended Feb. 28. Analysts polled by Thomson Financial were looking for flat year-over-year earnings. Shares were off $1.52, or 4.4%, to $32.75.Clothing maker Eddie Bauer (EBHI) will privately offer around $75 million in convertible senior bonds. Shares of the Redmond, Wash., company were down 42 cents, or 3.9%, to $10.50, in recent after-hours trading.
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