G-III Apparel Group
raised its fiscal year forecast, lifting its stock 17% to $20.05. The outlook came as the company reported fiscal second-quarter sales of $83.9 million, up 21% from a year ago. G-III had a loss of $884,000, or 5 cents a share, compared with last year's loss of $1.7 million, or 14 cents a share.
For the full fiscal year ending Jan. 31, the New York-based apparel distributor is looking for earnings of 98 cents to $1.03 a share, up from its previous profit guidance of 90 cents to 95 cents. Sales should be around $510 million, $10 million above its prior projection.
U.S. Xpress Enterprises
( XPRSA) jumped 12% to $19.02 after Patrick Quinn and Max Fuller, who are leading a buyout effort for the Chattanooga, Tenn., truckload carrier, said they expect to pay $20.10 for each share of the company, or 10 cents higher than the old bid.
Quinn and Fuller founded U.S. Xpress in 1985 and serve as co-chairmen of the board. Fuller is the company's CEO, and Quinn is the President.
( TXU) said the Nuclear Regulatory Commission has approved the company's acquisition by a group of investors led by Kohlberg Kravis Roberts and Texas Pacific Group.
Shares of TXU rose 0.7% to $67.90.
, based in St. Louis, is acquiring Brazilian corn seed company Agroeste Sementes for slightly more than $100 million.
Agroeste focuses on hybrid corn seed production and serves farmers throughout Brazil, the world's third-largest corn production area. Under the terms of the agreement, Monsanto bought all of Agroeste's businesses, including its corn seed brands. Monsanto financed the transaction with cash. Shares of Monsanto were up 1.4% to $71.51.
Pemco Aviation Group
( PAGI) slumped 33% to $7 after the company said its Pemco Aeroplex unit wasn't selected for a new KC-135 maintenance contract from the Air Force. Birmingham, Ala.-based Pemco performs maintenance and modifications of aircraft for the U.S. government and commercial customers.
"We have requested a debriefing from the Air Force to try to understand the reasons for the award decision," Pemco said. "Depending upon the information provided by the Air Force, and upon our assessment of the entire situation, we will decide on the next steps to be taken in connection with the KC-135 PDM contract. In addition, we will move forward with other programs with the Air Force and Navy."
( SHRP) was losing 12.5% to $4.21 following the electronics retailer's latest quarterly results.
The San Francisco-based company said that for the quarter ended July 31, revenue declined to $80.3 million from $107.2 million in the previous year, a decrease of 25%. Sharper Image had a loss of $20.6 million, or $1.36 a share, compared to the year-earlier loss of $14.6 million, or 98 cents a share.
Sharper Image also disclosed plans to shut its Richmond, Va., distribution center.