Updated from 12:31 p.m. EDT
was among the
winners Wednesday, as shares rose after the maker of electric motors posted better-than-expected first-quarter results and reaffirmed its 2007 forecast.
The company earned $19.5 million, or 63 cents a share, on revenue of $577.2 million. Analysts polled by Thomson First Call expected earnings of 61 cents a share, on revenue of $567.3 million. During the year-earlier quarter, the company earned $15.5 million, or 50 cents a share, on revenue of $459.2 million.
Looking ahead, A.O. Smith continues to see 2007 earnings of $2.75 to $2.95 a share, in line with the $2.87 a share that analysts project. Shares were trading up $1, or 2.6%, earlier in the day and closed up 25 cents, or 0.7%, at $38.95.
( ESLR) fell 10.6% after the company posted better-than-expected first-quarter results, but warned it would post a wider second-quarter loss. The company posted a loss of $6.2 million, or 9 cents a share, on revenue of $14.1 million. Analysts expected a bigger loss of 11 cents a share on revenue of $13.6 million. During the year-earlier period, the company reported a loss of $8.1 million, or 13 cents a share, on revenue of $11.6 million.
Looking ahead, Evergreen Solar sees a second-quarter loss of $8 million to $8.3 million, or 10 cents a share, on product revenue of $12.5 million to $13.5 million. Other revenue is expected to be between $1.5 million to $1.75 million. Guidance includes start-up costs of $1.25 million. Analysts project a loss of 8 cents a share on revenue of $14.2 million. Shares closed down $1.26 to $10.64.
rose 3.8% after the banking giant posted better-than-expected first-quarter results. The company earned $4.8 billion, or $1.34 a share, on revenue of $18.97 billion. Results included a one-time gain of 11 cents a share. Analysts expected earnings of $1.02 a share on revenue of $16.9 billion. During the year-earlier quarter, the company earned $3.1 billion, or 86 cents a share, on revenue of $15.2 billion.
In addition to posting blowout first-quarter results, the company also announced a $10 billion share repurchase plan. JPMorgan also boosted its dividend by 4 cents a share to 38 cents a share. The share repurchase plan replaces an $8 billion plan under which the company had purchased about $7.2 billion. Shares closed up $1.89 to $52.07.
( OMM) rose 5.3% after the oil tanker operator agreed to be acquired by
for about $1.8 billion in cash, or $29.25 a share. The deal represents a 5% premium to OMI's closing price of $27.74 on Tuesday. The acquisition is expected to be immediately accretive to Teekay's earnings in 2007 and add 10% to 2008 earnings. The deal is expected to close during the second quarter. Shares of OMI closed up $1.46 to $29.20.
slid 5% after the packaging company posted first-quarter earnings that fell below expectations. The company earned $16 million, or 10 cents a share, on revenue of $1.71 billion. Analysts expected earnings of 16 cents a share on revenue of $1.62 billion. During the year-earlier quarter, the company earned $10 million, or 6 cents a share, on revenue of $1.52 billion. Year-ago results included a charge of $6 million, or 3 cents a share. Shares were down $1.28 to $24.22.
NYSE volume leaders included
( MOT), up 27 cents to $18.22;
, down 85 cents to $21.30;
, up 13 cents to $15.35;
Advanced Micro Devices
, up 44 cents to $13.91;
, down $2.32 to $94.80; and
, down 7 cents to $35.13.
volume leaders included
, down $3.78 to $28.31;
, up 37 cents to $21.35;
, up $3.19 to $5.19;
( LWSN), up 9 cents to $8.99;
Sirius Satellite Radio
, down 1 cent to $3.02;
, down 25 cents to $28.60; and
, down 1 cent to $5.94.