surged Tuesday after
Jim Cramer named it his stock of the week on
"Mad Money" television program. Cramer, who cofounded the company that operates this Web site, said the communications chip maker could earn up to 40 cents a share next year, making it a relative bargain at Monday's closing price of $1.63. On Instinet, the shares were recently up almost 15% to $1.87.
Procter & Gamble
reaffirmed its earnings guidance of 75 cents to 76 cents a share for the first quarter. The consumer products giant said it expects sales growth toward the upper end of 6% to 8% for the quarter. The company cited its beauty and health businesses and developing markets for the strong sales growth. The segments' performance should offset the impact of Hurricane Katrina, which is expected to cut earnings by up to 2 cents a share. The stock was up 47 cents, or 0.85%, to $56.03 in after-hours trading.
signed separate agreements to acquire the Javelina gas processing and fractionation plant in Corpus Christi for a total of about $355 million. The enterprise is being purchased from its three owners,
( EP) and
. The deals should close in the fourth quarter.
cut its earnings and sales estimates. The maker of premium mattresses said it now expects to post sales of $845 million to $855 million for the full year versus its previous forecast of $880 million to $890 million. For the third quarter, the company expects GAAP earnings of 21 cents to 22 cents a share and pro forma earnings of 22 cents to 23 cents a share. Revenue is expected to be $203 million to $207 million. The stock was down $2.35, or 13.35%, to $14.03 in after-hours trading.
announced that it will sell $125 million aggregate amount of its convertible notes due 2012. The company expects net proceeds of $95 million after the issuance of the notes. Cyberonics said it plans to use a portion of the proceeds to purchase up to $20 million of its common stock. The stock was down $1.73, or 4.82%, to $34.17 in after-hours.
( CHTT) said it earned $9.4 million, or 46 cents a share, for the third quarter ended Aug. 31, compared with $87 million, or 43 cents a share, a year ago. Revenue for the quarter rose 4% to $68.2 million from $66.1 million last year. Excluding items, the company earned 55 cents a share. Analysts polled by Thomson First Call expected a profit of 52 cents a share on sales of $70 million. For the fourth quarter, the company expects to earn 43 cents to 45 cents a share on revenue of $63 million to $65 million, excluding possible Dexatrim litigation settlement items. The stock was up $1.68, or 4.49%, to $39.13 in after-hours trading.
( MYG) said that third quarter and full-year 2005 financial result will be significantly lower than expected due to higher costs. Maytag expects a loss for the third quarter before restructuring charges. The company said since it does not expect the merger with Whirlpool closing prior to the first quarter, it has decided to move forward to complete a new asset-based $600 million five-year, senior secured credit facility. The stock was down 50 cents, or 2.7%, to $18.04 in after-hours.