Thursday's Winners & Losers: OfficeMax
Updated from 11:03 a.m. EDT
OfficeMax (OMX) was among the NYSE's losers Thursday, as shares tumbled 15.5% after the office-supplies retailer posted first-quarter results that fell short of expectations.
The company earned $57.5 million, or 76 cents a share, on revenue of $2.44 billion. Excluding items, the company earned $59.7 million, or 77 cents a share. Analysts polled by Thomson Financial expected earnings of 93 cents a share on revenue of $2.46 billion. During the year-earlier quarter, the company reported adjusted earnings of $55.7 million, or 77 cents a share, on revenue of $2.42 billion. Shares closed down $7.67 to $41.79.
Tesoro (TSO) fell 7.2% after the oil refiner posted disappointing first-quarter earnings. The company earned $116 million, or $1.67 a share, on revenue of $3.88 billion. Analysts expected earnings of $1.86 a share on revenue of $4.07 billion. During the year-earlier quarter, the company earned $43 million, or 61 cents a share, on revenue of $3.88 billion. Shares closed down $8.88 to $114.95.Shares of Emergency Medical Services (EMS) jumped 10.1% after the provider of ambulance and emergency medical services posted better-than-expected first-quarter results. The company earned $16.6 million, or 39 cents a share, on revenue of $523.3 million. Excluding items, the company earned 42 cents a share. Analysts expected earnings of 26 cents a share on revenue of $504.2 million. During the year-earlier period, the company earned $7.3 million, or 17 cents a share, on revenue of $469.1 million. Looking ahead, the company now sees full-year earnings of $1.30 to $1.37 a share, up from an earlier forecast of $1.11 to $1.18 a share. Analysts project earnings of $1.17 a share. Shares closed up $3.39 to $36.86.
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