Shares of toymaker RC2 (RCRC Quote) fell in after-hours trading even though the company said it expects 2005 earnings to be at the higher end of its previously announced range of $2.40 to $2.50 a share. Analysts polled by Thomson Financial had forecast earnings of $2.52 a share. The company estimated full-year sales, excluding discontinued items, up 7%. RC2 shares were down 77 cents, or 2.26%, in after-hours trading to $33.33.
Bermuda-based reinsurer Everest Re(RE Quote) increased its loss estimates for hurricanes Katrina, Rita and Wilma. The company said total pretax losses from the storms, which previously had been estimated at $1 billion, are now expected to reach $1.2 billion. For all of 2005, the net after-tax cost of these storms is estimated at $962 million. Everest Re shares were unchanged after hours.
Macerich(MAC Quote) agreed to buy Valley River Center, a mall in Eugene, Ore., from a private real estate development and investment company for $187.5 million. The Santa Monica, Calif.-based real estate investment trust expects the deal to close in early February. Shares of Macerich fell $3.66, or 5%, to $69.75 in after-hours trading. ...
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