Shares of Headwaters(HW Quote) were among the NYSE's losers Thursday, falling 7% after the natural-resources company cut its 2006 earnings forecast.
The company now sees earnings of $2 to $2.70 a share, down from an earlier view of $2.60 to $2.75 a share. Analysts polled by Thomson First Call project earnings of $2.64 a share. "Due to the uncertainty surrounding oil prices and legislative action, we believe it is prudent to widen the band of our earnings forecast for the 2006 fiscal year," Headwaters said. Shares were trading down $2.05 to $29.35.
Home Depot(HD Quote) rose 1% after the home-improvement retailer boosted the number of shares it could buy under its stock-repurchase plan. The company is now authorized to buy up to $14 billion in stock, up from $12 billion. What's more, the company plans to immediately repurchase $2 billion in stock through an accelerated buyback. Home Depot signed an agreement with Lehman Brothers to immediately buy about 53 million shares. Shares were trading up 37 cents to $38.38. ...
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