A.G. Edwards( AGE) reported a 40% rise in quarterly profits, but the broker's results fell short of analyst expectations.
The St. Louis-based broker earned $66 million, or 86 cents a share in its second quarter, compared with $47 million, or 61 cents a share, in the year-ago period. Revenue rose 6% to $713 million in the quarter ended Aug. 31. But the results fell short of Wall Street expectations. Analysts, as surveyed by Thomson Financial, were looking for earnings of 87 cents a share on revenue of $734 million. Shares fell $2.36, or 4.23%, to $53.32 recently.
gained after James Cramer included the New York-based brokerage in his "Mad Money Lightning Round" picks. Cramer said Jeffries was "an unknown stock to people ... this company is the sleeping brokerage stock..." Cramer is one of the founders of
, publisher of this Web site. Shares climbed 67 cents, or 2.42%, to $28.33 recently.
slipped after the Bethesda, Md.-based REIT said it agreed to sell 5.75 million shares of common stock to
DiamondRock said it intends to use the roughly $100 million in proceeds to finance the acquisition of the Conrad Chicago Hotel and other potential acquisitions. Shares dropped 74 cents, or 4.21%, to $16.85 recently.
, parent company of Gabelli & Co., sank after the Rye, N.Y.-based company was downgraded by Matrix Research to hold from buy. Shares fell $1.57, or 4%, to $37.65 recently.
slipped after Citigroup initiated coverage of the Pittsburgh-based financial services company with a hold rating. Shares dropped 64 cents to $72.49.