Updated from 2:35 p.m. EDT
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.
( KWD) 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.
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.
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
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.
rose 3.1% to close at $91.59 after saying its quarry on Mexico's Yucatan Peninsula is in full operation following Hurricane Dean. Operations at the plant and adjacent harbor were suspended as part of the company's hurricane preparedness plan.
Production and ship loading resumed on Aug. 22, the Birmingham, Ala., construction aggregates producer said.
climbed 4.5% to close at $42.03 on news that its board approved an increase of $150 million to its previously approved buyback, raising the total to $450 million.
The company, a Los Angeles-based marketer of weight-management products and nutritional supplements, has been actively purchasing its common shares in the open market since the initial $300 million authorization in April 2007.