Wednesday's Winners & Losers: Superior Offshore
Updated from 12:13 p.m. EDT
Superior Offshore (DEEP) was among the Nasdaq's losers Wednesday, tumbling 11% after the provider of underwater construction services posted disappointing second-quarter results and warned that full-year revenue would be below Wall Street's forecast.
The company reported a loss of $10.8 million, or 50 cents a share, on revenue of $41.8 million. Results included pretax charges that knocked earnings down by $3.9 million, or 18 cents a share. Analysts polled by Thomson Financial expected earnings of 24 cents a share on revenue of $58.8 million. During the year-earlier quarter, the company earned $12.1 million, or 82 cents a share, on revenue of $60.6 million.
Looking ahead, Superior Offshore sees full-year revenue of $265 million to $285 million. Analysts project revenue of $294.3 million. Shares were down $1.48 to $11.98.Fossil (FOSL) rose 5.7% after Piper Jaffray upped shares of the watchmaker to outperform from market perform. The broker said that international growth will allow the company to attain outsized earnings growth. The upgrade comes just a day after the company posted blowout second-quarter earnings. Shares closed up $1.69 to $31.15. Shares of Deere (DE) rose 3% after the maker of tractor equipment posted third-quarter earnings that topped forecasts. The company earned $537.2 million, or $2.37 a share, on revenue of $6.63 billion. Analysts expected earnings of $1.99 a share on revenue of $6.65 billion. During the year-earlier period, the company earned $436 million, or $1.85 a share, on revenue of $6.27 billion. Shares closed up $3.51 to $120.60.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV