Updated from 11:57 a.m. EDT
(UFS - Get Report)
was among the
losers Monday, sinking 8% after the paper maker posted disappointing second-quarter results.
The company reported earnings of $11 million, or 2 cents a share, on revenue of $1.62 billion. Analysts polled by Thomson Financial expected earnings of 10 cents a share on revenue of $1.73 billion. During the year-earlier quarter, the company posted a loss of $12 million, or 4 cents a share, on revenue of $809 million. Shares closed down 72 cents to $8.24.
(SHLD - Get Report)
rose 5.6% after the retailer narrowed its second-quarter guidance and announced a $1.5 billion share repurchase plan. The company now sees second-quarter earnings of $170 million to $185 million, or $1.13 to $1.23 a share. Previously, the company said that it would earn between $160 million and $200 million, or $1.06 to $1.32 a share. Analysts project earnings of $1.13 a share.
The company also announced a stock repurchase plan of an additional $1.5 billion. The company only had some $19 million remaining under its previous share repurchase plan. "The company has a strong balance sheet and generates significant free cash flow, allowing us to invest in our business, consider other alternative investment opportunities, pay down debt, and repurchase our shares, each as appropriate given our objective of increasing shareholder value," Sears said. Shares closed up $7.45 to $140.55.
(SYY - Get Report)
rose 3.6% after the food distributor posted better-than-expected fourth-quarter results. The company earned $303.4 million, or 49 cents a share, on revenue of $9.23 billion. Analysts expected earnings of 46 cents a share on revenue of $9.15 billion. During the year-earlier period, the company earned $254.1 million, or 41 cents a share, on revenue of $8.51 billion. Shares closed up $1.16 to $33.56.
(VAL - Get Report)
rose modestly after the maker of paints and coatings posted third-quarter results that topped expectations. The company earned $53.2 million, or 52 cents a share, on revenue of $893.5 million. Excluding items, the company earned 57 cents a share. Analysts expected earnings of 56 cents a share on revenue of $868.6 million. During the year-earlier period, the company earned $52.6 million, or 51 cents a share, on revenue of $797.4 million.
For the full year, Valspar sees adjusted earnings of $1.80 a share. Analysts project earnings of $1.78 a share. Shares closed up 6 cents to $27.74.
(DBD - Get Report)
fell 4.4% after Keybanc downgraded shares of the maker of electronic voting machines to hold from buy. The firm said that Diebold's election business faces pressure. The company is less likely to sell the division, the broker said, which could hurt shares of the stock. Shares closed down $2.21 to $47.60.