RadioShack(RSH Quote) was among the NYSE's losers Monday, as the electronics retailer dipped 11% after posting a drop in net sales, despite swinging to a second-quarter profit.
The company earned $47 million, or 34 cents a share, compared to a loss of $3.2 million, or 2 cents a share, in the year-ago period. But revenue slipped to $934.8 million, from $1.1 billion. Analysts polled by Thomson Financial expected earnings of 25 cents a share on sales of $982.5 million. Shares fell $3.07 to $25.73. Graham Corp.(GHM Quote) jumped 34% after the maker of industrial products like pumps and vacuum systems easily outpaced expectations. Graham's fiscal first-quarter sales increased to $20 million, from $14.6 million in the year-ago period. Profits more than doubled to $2.7 million, or 66 cents a share, from $1.1 million, or 28 cents a share. The single-analyst estimate noted by Thomson Financial predicted earnings of 28 cents a share. Graham also said it expected top-line growth near the top of the 10% to 15% range it earlier had provided. Shares jumped $9.26 to $36.06. Clothing maker lululemon athletica(LULU Quote) continued to soar another 7.1% after its initial public offering Friday. The stock, which priced at $18, gained 50% Friday before gaining another $1.98 to $29.98. Ratings upgrades benefited a couple of stocks. Mine Safety Appliances(MSA Quote) climbed 9.9% after Robert W. Baird upgraded the stock to outperform from neutral. Shares advanced $4.07 to $45.21. Nordstrom(JWN Quote) jumped 6.9% after Citigroup upgraded the department store's stock to buy from hold. Shares climbed $3.04 to $46.95. Jarden(JAH Quote) fell 5.4% after the maker of paint brushes, matches and other household products posted disappointing earnings. The company reported net sales of $1.05 billion, compared to $962 million in the year-ago quarter and earned $16.7 million, or 23 cents a share, compared to $13.3 million, or 20 cents a share, in the comparable 2006 quarter. Analysts polled by Thomson Financial expected earnings of 57 cents a share on revenue of $1.06 billion. Shares dipped $2.06 to $36.80.- Loading Comments...
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