gained after the Pittsburgh-based company, which produces chemicals, carbon compounds and treated wood products, swung to a third-quarter profit. The company posted earnings of $12.4 million, or 59 cents a share, and revenue increased 17% to $314.4 million. The company also confirmed its full-year guidance of 13% to 15% increases in revenue and adjusted earnings before items. Shares were trading up 81 cents, or 4%, to $21.22.
Columbia Equity Trust
rose after the Washington, D.C.-based company agreed to be acquired by JPMorgan Asset Management's Special Situation Property Fund for $19 a share. The purchase price is a 12.4% premium over Columbia's closing price on Nov. 3. The merger is expected to be completed during the first quarter of 2007. Shares were climbing $1.88, or 11.1%, to $18.79.
( ANTP) soared more than 30% after the company's Antenna Products unit received a $798,617 contract from the General Services Administration in Fort Worth, Texas. Shares of Phazar were up $1.53 to $6.20.
American States Water
slumped after the San Dimas, Calif.-based company reported a drop in third-quarter earnings. The company posted earnings of $5.6 million, or 32 cents a share, down from $12.2 million, or 72 cents a share, a year ago. Revenue increased 8.3% to $73.7 million. The company said last year's results included a favorable regulatory decision that added about $4.3 million, or 25 cents a share, to net income, while this year, American States took a pretax unrealized loss on purchased power contracts totaling $2.8 million, or 10 cents a share. Shares were trading down $2.02, or 4.9%, to $38.88.