gained after the company said the Sullivan County, N.Y., legislature passed a resolution approving a local mitigation agreement between the county and the St. Regis Mohawk Tribe regarding a casino at Monticello Raceway. Empire operates the raceway and other gaming venues.
The agreement stipulates that the tribe will make annual payments of $15 million to the county to offset any potential impact from the casino.
"We believe there will be many substantial benefits to Sullivan County and the surrounding community from a casino and look forward to working with the local leadership to make this dream a reality," Empire said. Shares advanced 45 cents, or 7.6%, to $6.37.
reported lower third-quarter earnings, but the recreational vehicle maker still rose after beating Wall Street's expectations. The company posted earnings of $13.2 million, or 40 cents a share, compared with $17.6 million, or 52 cents a share, a year ago. The company said earnings were cut by 2 cents a share by option expenses.
Sales dropped 13.6% to $220.3 million. Analysts were looking for earnings of 38 cents a share on revenue of $231.9 million.
"Results for the third quarter and first nine months of fiscal 2006 were negatively impacted by a continued shift in product mix toward lower priced motor homes, as well as by lower motor home deliveries as a result of decreased industry demand," Chairman and CEO Bruce Hertzke said in a statement. Shares gained $2.65, or 9.3%, to $31.08.
( BNHNA) was higher after the restaurant chain's fourth-quarter earnings rose. The company earned $3.9 million, or 35 cents a share, compared with $2.2 million, or 22 cents a share, last year. Revenue increased 11.8% to $61.2 million. Same-store sales rose 10%.
Analysts polled by Thomson First Call were expecting the company to post earnings of 35 cents a share. For the first quarter, Benihana expects a profit of 37 cents to 41 cents a share. Wall Street is looking for 36 cents. Benihana climbed $1.72, or 7%, to $26.22.
( DOVP) was dropping a day after
said it might need to conduct more trials on safety issues to get approval of its insomnia drug Indiplon. Dov licenses Indiplon to Neurocrine.
Shares of Dov were losing 32 cents, or 11.5%, to $2.46.
Blonder Tongue Laboratories
fell on word the company has ended a joint venture agreement with Master Gain International Industrial, a Hong Kong corporation.
The company, a provider of equipment to broadband-service providers, cited the venture's failure to meet certain quarterly financial milestones, partly because Master Gain didn't contribute $5.85 million to the arrangement. Blonder Tongue also said the venture didn't get certain governmental approvals and licenses.
Shares of Blonder Tongue fell 19 cents, or 10.7%, to $1.63.