Wednesday's Winners & Losers: Foster Wheeler
Updated from 12:02 p.m. EDT
Foster Wheeler (FWLT) was among the Nasdaq's winners Wednesday, as shares rose 20% after the engineering services company posted first-quarter results that easily beat Wall Street's forecast.
The company earned $114.8 million, or $1.60 a share, on revenue of $1.15 billion. Analysts polled by Thomson Financial expected earnings of 75 cents a share on revenue of $1.04 billion. "Both of our business groups delivered performance breakthroughs from the year-ago quarter," the company said. Shares closed up $14.60 to $87.75.
CompuCredit (CCRT) slid 9.3% after the finance company posted an unexpected first-quarter loss. The company reported a loss of $9.5 million, or 19 cents a share. Analysts had expected a profit of 21 cents a share. During the year-earlier quarter, the company posted a profit of $54.8 million, or $1.09 a share. "Factors adversely affecting our first quarter results included lower than expected fee assessments due to lower than expected delinquencies, the timing and extent of our marketing efforts, and the final transitional effects of implementing our previously announced decision to discontinue billing finance charges and fees on credit card accounts that become over 90 days delinquent," CompuCredit said. Shares closed down $3.57 to $34.75.Shares of eFunds (EFD) jumped 12% after the payments services company said that it is reviewing its strategic options. The news helped offset disappointing first-quarter earnings results. The company said that it was recently approached by parties who are interested in exploring strategic alternatives that include merger opportunities. As for the company's earnings, eFunds posted first-quarter earnings of $10.5 million, or 22 cents a share, on revenue of $134 million. Analysts expected earnings of 26 cents a share on revenue of $144.9 million. During the year-earlier period, the company earned $10.7 million, or 23 cents a share, on revenue of $139.7 million. Looking ahead, eFunds sees full-year earnings falling to the low end of $1.30 to $1.42 a share. It sees revenue falling to the low end of $591 million to $613 million. Analysts project earnings of $1.35 a share on revenue of $599.7 million. Shares closed up $3.42 to $31.91.
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