were among the
winners Friday, rising 5% after the provider of helicopter services to the oil and gas industry posted better-than-expected fiscal fourth-quarter results.
For the period ended March 31, the company earned $17.8 million, or 75 cents a share, on revenue of $201.3 million. Analysts polled by Thomson First Call expected earnings of 56 cents a share on revenue of $193.3 million. During the year-earlier period, the company earned $13.2 million, or 56 cents a share, on revenue of $170.5 million. Bristow Group said its earnings were driven by strength in Europe and Southeast Asia, which offset declines in North America. Shares were trading up $1.70 to $37.22.
sank 13% after the chemicals company announced an agreement to buy
Royal Group Technologies
( RYG) in a deal valued at $1.6 billion. Georgia Gulf will pay $11.82 a share for Royal Group, a Canadian producer of vinyl building and construction products. That price represents a 48% premium over Royal Group's close of $8 Thursday. Shares of Royal Group recently shot up $3.50, or 44%, to $11.50, while Georgia Gulf shares fell $3.86 to $26.63.
rose 7% after the energy transportation services company announced a $300 million stock buyback plan. At current prices, the buyback represents about 15% of the company's outstanding shares. "Today's announcement demonstrates our confidence in OSG and its future, and represents a meaningful step in our ongoing commitment to further enhance value for shareholders," the company said. "It also reflects our strong belief that the company's current share price does not adequately reflect the fundamental value of the firm as measured by our substantial locked-in levels of earnings as well as future earnings prospects of our business." Shares were up $3.46 to $54.46.
fell 1% after the arts-and-crafts retailer said it would delay the filing of its fiscal first-quarter report because of an internal review into its option grant practices. The company said the review is focused on the period of 1990 to 2001. "At this time, the company is unable to determine whether any accounting adjustment might be required, the final amount of any accounting adjustment, if required, or whether such an adjustment will require a restatement of prior period financial statements or will be reflected in its fiscal 2006 results of operations," the company said. Michaels has notified its independent accounting firm and the
Securities and Exchange Commission
about the internal review. The company said it is working to file its quarterly report with the SEC by the fifth calendar day following the filing deadline
Meanwhile, Michaels said that its board continues to explore strategic alternatives aimed at enhancing shareholder value, which include the possible sale of the company. Shares were trading down 46 cents to $38.25.
fell 1% after the company completed a follow-on stock offering. The shipping transportation company priced 7 million shares of stock at $9.50 a share, representing a 5% discount to Thursday's closing price of $10.02. The company also granted underwriters a 30-day option to buy an additional 1.05 million shares to cover over-allotments.
Separately, Diana Shipping also said it signed an agreement that grants the company an option to acquire a new Panamax dry bulk carrier. The company expects to take delivery of the vessel in July. Shares were trading down 13 cents to $9.89.
rose 8% after the sports-related apparel company posted in-line fiscal second-quarter earnings. For the quarter ended April 30, the company earned $3.7 million, or 3 cents a share, on sales of $516.9 million. Analysts expected earnings of 3 cents a share on sales of $527.3 million. A year earlier, the company earned $34.7 million, or 28 cents a share, on sales of $426.9 million.
Looking ahead, Quiksilver continues to see fiscal 2006 earnings of 87 cents to 88 cents a share and sales of $2.25 billion to $2.27 billion. The guidance excludes 11 cents a share in stock-based compensation costs. Analysts project earnings, including stock-based compensation costs, of 76 cents a share, with sales of $2.27 billion. Shares were trading up 95 cents to $12.95.
NYSE volume leaders included
( LU), up 1 cent to $2.43;
, down 59 cents to $30.13;
, down 30 cents to $23.56;
, up $1.16 to $22.90;
, down 53 cents to $59.04;
, down 29 cents to $34.28; and
, up 10 cents to $6.76.
volume leaders included
, up 9 cents to $17.20;
, up 10 cents to $4.33;
Level 3 Communications
, up 3 cents to $4.56;
, up 4 cents to $2.79;
, down 3 cents to $22.08;
, up 26 cents to $20.15;
, down 87 cents to $59.89;
, down 5 cents to $13.48; and
, up 10 cents to $3.46.