gained $1.23, or 3.3%, to $38.27 after the company
for the first quarter and reported strong growth in its wireless and high-speed Internet divisions. Verizon reported adjusted earnings of $1.74 billion, or 61 cents a share, a nickel better than a year ago. Analysts were expecting earnings of 61 cents a share in the quarter. Sales rose 5.5% from a year ago to $23.8 billion and were roughly in line with expectations of $23.85 billion.
Making one of the biggest moves Monday was
. Shares of the medical-device company soared more than 70% after the company said that the Food and Drug Administration granted 510(k) clearance in the U.S. to market its ADVANCE System, a device for physicians to test nerve conduction and perform invasive electromyography procedures. Shares of the Waltham, Mass., company were trading up $1.20, to $2.91 on more than 10 times the stock's average trading volume.
GPS-based navigation systems maker
gained $1.67, or 3.6%, to $47.76 ahead of the company's earnings report Wednesday. Analysts are expecting Garmin to report earnings of 75 cents a share on revenue of $712.11 million in the quarter. For the second quarter, it is expected to report EPS of $1.12 on revenue of $1.02 billion.
Old National Bancorp
shares jumped 8% after the regional bank's first quarter earnings came in 81% over the year-ago period's. Although the net income was down sequentially, investors rewarded the bank for its balance sheet restructuring and staff reductions, sending shares up $1.26 to $17.06.
Citigroup initiated coverage of
with a buy rating. CardioNet, a heart-monitor-device maker that came public last month in a lackluster IPO that priced on the low end of management's expectations, is slated to report first-quarter earnings before the opening bell Tuesday. Shares of the San Diego, Calif.-based company were trading up 9% to $ 23.44 Monday.
It hasn't been an easy ride as of late for student loans, but on Monday
Student Loan Corp.
( STU) ticked up 10.5% on no discernable news. The student lender saw it shares move up $11.63 to $122.05.
, an Israeli developer of application delivery and network security solutions, fell 15% to $9.05. The company posted a non-GAAP loss of $6.3 million, or 32 cents a share, vs. a loss of $1.2 million, or 6 cents a share, a year ago. Analysts were looking for an EPS loss of 5 cents.
, a Tokyo provider of financial services, saw shares climb 12% to $10.51. The company announced 2007 net income of 5.16 billion yen, down from 12.08 billion yen a year ago. Mizuho also announced that it would postpone a merger with Shinko Securities until 2009. The merger has been postponed several times in part because of Mizuho's exposure to the U.S. subprime crisis.
This article was written by a staff member of TheStreet.com.