were among the
losers Wednesday, tumbling 15% after the steel products company posted fourth-quarter earnings that were below Wall Street's forecast.
The company earned $94.9 million, or $1.01 a share, on sales of $1.28 billion. Excluding items, the company earned $50.6 million, or 54 cents a share. Analysts polled by Thomson First Call expected earnings of 63 cents a share, before items, on sales of $1.28 billion.
Earnings were lower than anticipated due to higher manufacturing costs, a write-off of obsolete and slow-moving inventory and increased reserves for automotive industry credit exposure," the company said. During the year-earlier quarter, the company earned $64.4 million, or 71 cents a share, on sales of $1.19 billion. Excluding items, the company earned $39.9 million, or 44 cents a share, a year earlier.
Timken sees first-quarter earnings, excluding items, of 55 cents to 60 cents a share. For all of 2006, the company expects earnings of $2.65 to $2.80 a share. Analysts project full-year earnings of $2.86 a share. Shares were trading down $5.49 to $30.68.
jumped 19% after the mattress maker reported fourth-quarter earnings that were ahead of expectations. The company earned $15.8 million, or 42 cents a share, on sales of $187.9 million. Analysts expected earnings of 37 cents a share on sales of $185.1 million. A year earlier, the company earned $10.4 million, or 27 cents a share, on sales of $148.6 million.
Looking ahead, Select Comfort sees 2006 earnings of $1.30 to $1.37 a share, including stock-based compensation expenses of 10 cents to 11 cents a share. Analysts project earnings, including stock-based compensation expenses, of $1.30 a share. The company expects full-year sales growth that will be at the high end of its long-term growth range of 15% to 20%. Shares were trading up $5.36 to $32.96.
fell 8% after the company reported weaker-than-expected fourth-quarter earnings. The foodmaker earned $9.7 million, or 32 cents a share, down from $16.6 million, or 55 cents a share, a year earlier. Sales rose to $464 million from $440.1 million. Analysts expected earnings of 49 cents a share and sales of $463.9 million. The company said the earnings decline was caused by "increases in the costs of raw materials, freight and energy, slightly offset by earnings added by the recent acquisitions and the limited effect of pricing increases." Ralcorp shares were down $3.29 to $36.01.
rose 3% after the bakery operator posted solid January sales. The company reported a 10.2% jump in systemwide same-store sales for the four weeks ended Jan. 24, while posting a gain of 10.9% at company-owned stores. Franchised bakery stores, meanwhile, had a same-store sales increase of 9.9%. Shares were trading up $2.16 to $70.26.
rose another 8% after the chemical company confirmed that it has received an "indication of interest" regarding the acquisition of its company. "In response to this indication of interest, the board of directors engaged financial and legal advisors to assist it in evaluating a sale of the company and other alternatives to enhance shareholder value, including continuing to execute its business plan," the company said.
Huntsman shares jumped 11% Tuesday after
The Wall Street Journal
reported that the company is in "serious discussions" to be sold for more than $4.3 billion. Buyout firm Apollo Management is considered a leading candidate, the
said. Shares of Huntsman were recently up $1.78 to $23.40.
NYSE volume leaders included
, up 43 cents to $17.96;
, up 2 cents to $2.66;
, down 3 cents to $32.72;
, up 7 cents to $3.07;
, down 27 cents to $28.96;
, up 18 cents to $26.23; and
, down 14 cents to $46.44.
volume leaders included
, up 14 cents to $4.64;
, down $1.45 to $16.93;
, down 12 cents to $18.45;
Sirius Satellite Radio
, down 9 cents to $5.58;
, up $4.61 to $77.50;
, up 3 cents to $21.28;
, down 18 cents to $27.97;
, down $38.78 to $393.88; and
, down 7 cents to $18.98.