Friday's Winners & Losers

Updated from 2:35 p.m. EDT

American Woodmark (AMWD Quote - Cramer on AMWD - Stock Picks) rose 8.2% to close at $30.06 after the company set plans to buy back stock and boosted its quarterly dividend.

The Winchester, Va., maker of kitchen and bath cabinets said its board has authorized a new $100 million stock repurchase program. The previous $50 million program announced in November 2006 has nearly been completed.

In addition, the company decided to increase its dividend by 50% to 9 cents a share from the previous 6 cents.

Kellwood's (KWD Quote - Cramer on KWD - Stock Picks) Phat Fashions division signed a deal with Longstreet Industries, a division of Stretch-O-Rama, to design and market sportswear and outerwear under the Phat Farm and XV brand names. Kellwood also said Russell Simmons has stepped down as Phat Fashions CEO.

Shares of St. Louis-based Kellwood, a clothing marketer, rose 1.4% to close at $20.82.

Pittsburgh foodmaker H.J. Heinz (HNZ Quote - Cramer on HNZ - Stock Picks) traded actively after offering optimistic projections for the full year.

The company's first-quarter earnings grew 8.6% from last year to 63 cents a share, and sales increased 9.1% to $2.25 billion.

For the fiscal year, Heinz expects its earnings to be near the top of its previously announced range of $2.54 to $2.60 a share. Shares of Heinz were down 0.4% earlier in the day but closed up 0.5%, or 21 cents, at $45.43.

Packaging producer MeadWestvaco (MWV Quote - Cramer on MWV - Stock Picks) reached a deal to sell 62,000 acres of forestland in West Virginia for $93.1 million to a unit of Penn Virginia Resource Partners (PVR Quote - Cramer on PVR - Stock Picks).

MeadWestvaco, of Glen Allen, Va., expects to complete the transaction in the third quarter of this year. Its shares slipped earlier in the day but closed up 0.6% to $31.73.

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