Friday's Winners & Losers: Saia
Updated from 11:13 a.m. EDT
Shares of Saia (SAIA) were among the Nasdaq's winners Friday, soaring 19.5% after the trucking company posted first-quarter results above Wall Street's forecast.
The company earned $3 million, or 21 cents a share, on revenue of $231.8 million. Excluding items, the company earned 31 cents a share. Analysts polled by Thomson Financial expected earnings of 24 cents a share on revenue of $216.9 million. During the year-earlier quarter, the company earned $2.4 million, or 16 cents a share, on revenue of $204.6 million. Shares closed up $4.83 to $29.64.
Hub Group (HUBG) jumped 16.4% after the provider of transportation logistic services posted better-than-expected first-quarter results. The company earned $11.4 million, or 29 cents a share, on revenue of $393.3 million. Analysts expected earnings of 25 cents a share on revenue of $379.4 million. During the year-earlier quarter, the company earned $9.1 million, or 22 cents a share, on revenue of $356.8 million.Looking ahead, Hub Group sees 2007 earnings of $1.31 to $1.40 a share. Analysts project earnings of $1.37 a share. Shares closed up $4.99 to $35.48. Shares of Genesco (GCO) climbed 15.1% after it confirmed that it received an unsolicited offer from Foot Locker to buy the company for $46 a share in cash. Genesco said that its board would consider the proposal, with the help of its financial adviser Goldman Sachs, and respond in due course. The total value of the deal would be worth about $1.2 billion and represents a 6% premium to Genesco's closing price of $43.41 on Thursday. Shares closed up $6.57 to $49.98.
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