Stocks to Watch: Jo-Ann Stores Rises, Reliant Resources Drops - TheStreet

Winners

American Greetings

(AM) - Get Report

was climbing more than 11% to $21.68 after the greeting card maker said it expects earnings of $1.45 to $1.55 a share for the full year, compared with a profit of $1.09 last year. For the first quarter, the company expects earnings, excluding a gain, of 40 cents to 45 cents a share, up from 29 cents a year ago.

Hanger Orthopedic

(HGR)

was gaining 7% to $11.90 ahead of the company's first-quarter earnings report. Hanger, a provider of orthotics and prosthetics patient care services, plans to release its results Monday.

Imax

(IMAX) - Get Report

was rising 15% to $5.73 a day after the company reported earnings of 32 cents a share for the first quarter. The owner of theaters with giant movie screens said earnings from continuing operations totaled 6 cents a share in the quarter, reversing a loss of 42 cents in the prior-year period.

Jo-Ann Stores

( JAS.A) was rising 8% to $24.99, a 52-week high, a day after the seller of fabric and crafts said April same-store sales increased 19.6%. The company also raised its guidance for the first quarter and full year.

Select Comfort

(SCSS)

was up more than 7% to $5.46 after research firm Adams Harkness initiated coverage of the stock with a buy rating. Select Comfort, a maker of mattresses, hit a 52-week high of $5.74 earlier in the day.

Losers

Cooper Tire & Rubber

(CTB) - Get Report

was falling 14% to $21.97 on reports the tiremaker could face court sanctions for destroying evidence in a wrongful death lawsuit against the company.

Neose Technologies

(NTEC) - Get Report

was plunging 47% to $11 after the company said

Wyeth

( WYE) doesn't plan to continue clinical development of their compound, rPSGL-Ig, for myocardial infarction because of disappointing results in Phase II clinical trials. Neose said the decision wasn't related to the performance of its GlycoAdvance technology.

Reliant Resources

(RRI)

was falling 16% to $12.25 after the company canceled a $500 million debt placement that was priced Thursday. Reliant, in response to reports about

Dynegy's

(DYN)

transactions involving simultaneous purchases and sales with the same counterparty at the same price, undertook a review of its own dealings. The company believes it had "similar transactions" and is working to quantify the amount and assess the impact of the arrangements. The company is a majority-owned unit of

Reliant Energy

(REI) - Get Report

, which for its part was falling 13% to $21.51.