Qiao Xing Universal Telephone
( XING) shares surged Wednesday after the Chinese telecommunications company said 2005 earnings per share before extraordinary gains would "increase significantly" to well above $1 from 17 cents in 2004. The company plans to release its 2005 financial results on June 20.
The company also said it closed a $40 million convertible bond transaction with two strategic investors on Tuesday. ''We are glad that transaction has been completed and are confident that the investors will be pleased with our upcoming 2005 financial results on June 20th," Rick Xiao, the company's head of investor relations said in a statement. "We hope this investment and the result will prove to the market that Qiao Xing Universal Telephone Inc. has turned the corner in 2005." Shares gained $1.17, or 16.2%, to $8.38 in recent trading.
( UIC) climbed after the Hunt Valley, Md.-based military contractor was upgraded by Kaufman Brothers to buy from hold. Shares gained $3.38, or 7.6%, to $47.61 in recent trading.
gained after the Denver-based company, which offers combined energy, environmental and economic solutions to coal-fired power-generating facilities, said it signed an agreement for the first unit train shipment of K-Fuel from its commercial Ft. Union plant with
. The company also said it entered into a long-term marketing, distribution and transportation logistics services agreement with
DTE Coal Services
. Shares gained $1.17, or 10%, to $12.82 recently.
Barrett Business Services
gained as the Vancouver, Wash.-based human-resource management company reaffirmed its second-quarter guidance. The company said it expects earnings to range from 33 cents to 35 cents a share and gross revenue to range from $250 million to $255 million, up about 37.5% from a year ago and consistent with the company's prior disclosure on April 26. Shares gained $1.09, or 6%, to $19.39 in recent trading.
( MDTH) shares advanced after the Charlotte, N.C.-based company, which owns and operates hospitals in partnership with physicians, was upgraded by Stifel Nicolaus to hold from sell. The stock gained $1.27, or 8.9%, to $15.61 in recent trading.