The Day's Winners
jumped 61% to $5.31 on news that aluminum producer
plans to buy the company's aerospace fastener unit for $657 million in cash. The sale is expected to close in the fourth quarter.
climbed 5% to $73.77 after posting a 67% profit increase, driven by its antidepressant drug Celexa. The company earned $123.8 million, or 67 cents a share, up from $74 million, or 40 cents a share, a year ago. Analysts had been looking for 58 cents. Revenue was up 33% from the second quarter of 2001, as sales of Celexa increased 48%.
shot up 25% to $12.91 after the company posted better-than-expected second-quarter results. The digital projection technology maker earned $1.1 million, or 3 cents a share, down sharply from $7.8 million, or 20 cents a share, in the year ago quarter.Excluding restructuring charges, the company earned $2 million, or 5 cents a share, beating the consensus estimate of a loss of 3 cents. Revenue for the quarter was $165 million, also ahead of estimates of $157 million. The company expects earnings and revenue in the third quarter to be flat with the second quarter, but InFocus said fourth-quarter revenue should improve sequentially.
added 11% to $37.97 after reporting stronger than expected second-quarter results. The company earned $25.7 million, or 33 cents a share, down from $34.5 million, or 45 cents a share, a year ago but ahead of Wall Street's estimate of 25 cents. The company predicted earnings of 43 cents to 47 cents in the third quarter, compared with estimates of 43 cents. Many analysts pointed to the strong results as indicative of a recovery in the temporary employment market.
was up 13% to $4.25 on news that the U.S. Postal Service has approved NetStamps, a new form of postage that can be used just like regular stamps. Customers can print sheets of postage in any denomination and for any class of mail using NetStamps.
The Day's Losers
plunged 33% to $5.60 after the company posted a second-quarter loss Tuesday night and warned of a probable decline in third-quarter revenue. Excluding items, the company lost $789,000, or 6 cents a share, in the quarter, compared with a profit of $902,000, or 7 cents a share, in the year-ago period. Analysts had been expecting a loss of 6 cents. Revenue fell to $6.9 million from $10.2 million a year ago. August, a maker of inspection equipment for the microelectronics industry, warned that revenue could fall as much as 15% in the third quarter. The stock was also downgraded to buy from strong buy at Adams Harkness.
shed 6% to $19.75 on a warning from Lehman Brothers that the company might lower its guidance for the second half of the year due to weakness in the Ethernet market and a weak
Capital One Financial
fell about 32% to $34.26 on concerns over a planned agreement with regulators, despite the fact that the company posted a 37% increase in quarterly earnings. The memorandum of understanding with bank regulators dictates certain precautions the subprime lender must take with respect to capital and loan reserves. The stock was downgraded to neutral from buy by Salomon Smith Barney, to market perform from buy by Deutsche Securities, and to hold from buy by AG Edwards.
Credit card provider
dropped 37% to $3.80 after the company posted a second-quarter loss on a higher credit delinquency rate. The company said it lost 74 cents a share in the quarter, compared with a profit of 64 cents a share in the year-ago period. Analysts had been looking for a profit of 22 cents in the quarter, according to Thomson Financial/First Call. Going forward, Metris warned that it won't issue guidance for the rest of the year.