Monday's Late Winners & Losers
Stocks were relatively quiet after the bell Monday despite a flowering earnings season, but among the winners was Robbins & Myers (RBN).
The Dayton, Ohio, company, which makes equipment for the pharmaceutical, energy and industrial markets, said fiscal fourth-quarter earnings jumped 64.1% year-over-year to $1.05 a share, excluding items. Analysts polled by Thomson Financial were looking for just 84 cents a share. Robbins stock added $3.66, or 6%, to $64.75.
Trucking company Werner Enterprises (WERN), based in Omaha, Neb., pocketed third-quarter income of $21.9 million, or 30 cents a share, a penny over the average Street estimate. Shares, however, were recently trading lower 0.5% to $17.50 in choppy post-bell trading.
Zila (ZILA), which makes oral-disease treatments, was in the green after narrowing its fourth-quarter continuing-operations loss to $5.8 million, or 9 cents a share, vs. 17 cents a share last year. The sole analyst's estimate called for a loss of a nickel a share, excluding items. Shares of the Phoenix-based company added 13.9% to $1.15 in light trading.On the other hand, OSI Pharmaceuticals (OSIP) slipped after reporting an "unusually high" rate of expiring product returns for its Tarceva cancer treatment, which necessitated about a $13 million reserve adjustment in the third quarter. OSI nonetheless reaffirmed its prior full-year Tarceva sales guidance of between $855 million and $860 million. Still, OSI shares fell 1.6% to $35.10. Genentech (DNA), Tarceva's U.S. distributor, was off 1% to $76.76, even though the South San Francisco, Calif., biotech posted a non-GAAP profit of 73 cents a share in that quarter. That's a penny over earnings targets. Revenue, at $2.91 billion, was a hair under.
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