Thursday's Winners & Losers: OfficeMax
Unum Group (UNM) climbed 9.7% after the insurance company posted first-quarter earnings that were better than expected. The company posted an operating profit of $174.6 million, or 50 cents a share, on revenue of $2.6 billion. Analysts expected earnings of 45 cents a share. During the year-earlier quarter, the company earned $129.2 million, or 40 cents a share, on revenue of $2.6 billion.
Looking ahead, Unum now sees full-year operating earnings of $1.91 to $1.95 a share, up from an earlier forecast of $1.83 to $1.87 a share. Analysts project earnings of $1.86 a share. Shares closed up $2.41 to $27.33.
Shares of Blount International (BLT) tumbled 11.3% after the maker of industrial and power equipment posted first-quarter results that fell below expectations. The company earned $4.7 million, or 10 cents a share, on revenue of $144 million. Analysts expected earnings of 17 cents a share on revenue of $156.3 million. "This year's first-quarter results were adversely impacted by weak conditions in the North American timber markets," the company said. During the year-earlier quarter, the company earned $8.4 million, or 18 cents a share, on revenue of $163.8 million.
Looking ahead, Blount sees full-year revenue of $630 million to $655 million. Analysts project revenue of $638.9 million. Shares closed down $1.62 to $12.68.NYSE volume leaders included Advanced Micro Devices (AMD), up 6 cents to $13.69; Avon Products (AVP), down 13 cents to $40.89; General Motors (GM), down $1.75 to $30.69; EMC (EMC), up 16 cents to $15.35; General Electric (GE), up 3 cents to $37.34; Ford (F), up 2 cents to $8.19; and Pfizer (PFE), up 27 cents to $26.87. Nasdaq volume leaders included Symantec (SYMC), up 88 cents to $19.05; Intel (INTC), down 8 cents to $21.74; Charter Communications (CHTR), up 12 cents to $3.39; Microsoft (MSFT), up 36 cents to $30.97; JDSU (JDSU), down $2.31 to $14.33; Sun Microsystems (SUNW), up 3 cents to $5.18; Level 3 Communications (LVLT), up 20 cents to $5.62; and Cisco Systems (CSCO), up 3 cents to $27.70.
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