were among the
winners Thursday, soaring 16% after the banking concern agreed to be acquired by
for $3.6 billion in cash and stock.
The deal values Sky Financial at $30.22 a share, a 25% premium to its closing price of $24.29 on Wednesday. Excluding one-time items, the purchase is expected to immediately add to Huntington's 2007 earnings.
"This is an exciting transaction that provides Sky shareholders with immediate value, as well as the opportunity to participate in the upside potential created by bringing together our two strong financial institutions," Sky Financial said in a press release. The deal is expected to close in the third quarter of 2007. Shares of Sky Financial were up $3.78 to $28.07, while shares of Huntington fell $1.78, or 7%, to $22.92.
slid 6% after the metal processing company posted second-quarter results that missed expectations. For the quarter ended Nov. 30, the company earned $26.9 million, or 31 cents a share, on revenue of $729.3 million. Analysts polled by Thomson First Call expected earnings of 39 cents a share and revenue of $782.5 million. During the year-earlier quarter, the company earned $39 million, or 44 cents a share, on revenue of $699.5 million.
Looking ahead, Worthington said that third-quarter results could be very weak. "Both margins and volume should begin to improve somewhat in January, with the volume recovery in Steel Processing being more predictable, but consolidated results for the third quarter may be very weak," the company said. "The depth of the weakness in the third quarter will largely depend on pricing and the pace at which demand recovers in Metal Framing." Shares were trading down $1.16 to $18.53.
fell 8% after the steel company's first-quarter results and second-quarter guidance came in below Wall Street's forecast. For the first quarter ended Nov. 30, the company earned $85.4 million, or 71 cents a share, on revenue of $2 billion. Analysts expected earnings of 74 cents a share and a top line of $1.94 billion. A year earlier, the company earned $69.6 million, or 57 cents a share, on revenue of $1.6 billion.
Commercial Metals projected second-quarter earnings of 57 cents to 67 cents a share. Analysts forecast earnings of 69 cents a share. Shares were trading at $25.34, down $2.19.
jumped 9% after the glass products company posted better-than-expected third-quarter results and boosted its full-year guidance. For the period ended Dec. 2, the company earned $9.9 million, or 35 cents a share, on revenue of $209.8 million. Analysts expected earnings of 27 cents a share and revenue of $203.7 million. A year earlier, Apogee earned $9 million, or 32 cents a share, on revenue of $177.4 million.
For fiscal 2007, Apogee forecast earnings of 98 cents to $1.04 a share, up from an earlier projection of 92 cents to 98 cents. Analysts project earnings of 93 cents a share. The company sees revenue of growth of 12% to 15%. Shares recently were up $1.55 to $18.30.
rose 4% after the office furniture maker posted in-line second-quarter earnings and issued a third-quarter guidance that topped expectations. For the period ended Dec. 2, the company earned $36.6 million, or 56 cents a share, up from $27.9 million, or 40 cents a share, a year earlier. Revenue rose to $499.1 million from $438.2 million. Analysts, on average, expected earnings of 56 cents a share and revenue of $503.6 million.
Looking ahead, Herman Miller forecast third-quarter earnings of 50 cents to 54 cents a share and revenue of $480 million to $500 million. The estimate includes a tax credit of a penny a share. Analysts project earnings of 44 cents a share, with revenue of $459.5 million. Shares of Herman Miller were adding $1.57 to $36.80.
rose 6% after Standard & Poor's said it will add the watch designer to its S&P SmallCap 600 index on a to-be-determined date. The company will replace
, which is being acquired by Stiefel Laboratories. Shares of Movado were adding $1.50 to $27.58.
volume leaders included
, up 5 cents to $7.38;
, down 68 cents to $24.22;
, up 4 cents to $34.99;
, up 11 cents to $13.69;
, unchanged at $26.21;
( BLS), up 29 cents to $45.84;
, down 9 cents to $16.59;
, unchanged at $21.96; and
, up 7 cents to $37.94.
Nasdaq volume leaders included
( MAMA), up $1.01 to $8.32;
, down 12 cents to $20.48;
Sirius Satellite Radio
, up 5 cents to $3.84;
, down 8 cents to $30.01;
, up 1 cent to $5.59;
, down 20 cents to $25.39;
, up 11 cents to $27.50; and
, up 15 cents to $84.91.