
Wednesday's Winners & Losers: Chaparral Steel
Updated from 11:35 a.m. EDT
Chaparral Steel
(CHAP) - Get Report
was among the
Nasdaq's
winners Wednesday, as shares jumped 12.3% after the steel-beam maker said that it is exploring strategic alternatives, including the possible sale of the company.
The company, which has hired Goldman Sachs to help in the review process, said other alternatives include strategic partnerships, acquisitions, recapitalizations or mergers. "The company will only pursue transactions that reflect the full value of this great company," the company said. "To capture that value, all strategic alternatives will be considered." Shares closed up $7.90 to $71.87.
Arkansas Best
(ABFS)
rose 5.9% after the transportation company posted better-than-expected first-quarter results. The company earned $4.8 million, or 19 cents a share, on revenue of $422.6 million. Analysts polled by Thomson Financial expected earnings of 15 cents a share on revenue of $414.8 million. During the year-earlier quarter, the company earned $5.8 million, or 23 cents a share, on revenue of $425 million. Shares closed up $2.32 to $41.52.
Shares of
O'Reilly Automotive
(ORLY) - Get Report
jumped 5.8% after the auto-parts retailer posted first-quarter results that were better than expected. The company earned $48.4 million, or 42 cents a share, on revenue of $613.1 million. Analysts expected earnings of 40 cents a share on revenue of $604.5 million. During the year-earlier period, the company earned $40.6 million, or 35 cents a share, on revenue of $536.5 million. Shares closed up $2.03 to $36.92.
Western Union
(WU) - Get Report
fell 5.8% after the company posted in-line first-quarter earnings on lower-than-expected revenue. The company earned $193.2 million, or 25 cents a share, on revenue of $1.13 billion. Analysts had expected earnings of 25 cents a share on revenue of $1.15 billion. During the year-earlier period, the company earned $219.8 million, or 29 cents a share, on revenue of $1.04 billion.
Looking ahead, Western Union still expects full-year earnings of $1.07 to $1.11 a share but now sees revenue growth of 10% to 11%. Previously, the company expected revenue growth of 11% to 13%. Shares closed down $1.34 to $21.59.
Shares of
Teledyne Technologies
(TDY) - Get Report
soared 11.2% after the maker of aerospace equipment posted first-quarter earnings that were well above expectations. The company earned $20.5 million, or 57 cents a share, on revenue of $385.6 million. Analysts expected earnings of 50 cents a share on revenue of $383.3 million. During the year-earlier quarter, the company earned $17.9 million, or 51 cents a share, on revenue of $330.2 million.
Looking ahead, Teledyne sees second-quarter earnings of 58 cents to 61 cents a share, above the 57 cents a share that analysts projected. Shares closed up $4.62 to $45.81.
NYSE
volume leaders included
Corning
(GLW) - Get Report
, up $1.25 to $24.98;
Motorola
( MOT), up 27 cents to $17.91;
Pfizer
(PFE) - Get Report
, up 17 cents to $26.32;
Alcoa
(AA) - Get Report
, up $1.81 to $35.76;
Advanced Micro Devices
(AMD) - Get Report
, up 8 cents to $14.65;
Ford
(F) - Get Report
, up 6 cents to $7.88; and
General Electric
(GE) - Get Report
, up 65 cents to $35.41.
Nasdaq volume leaders included
Sun Microsystems
(SUNW) - Get Report
, down 67 cents to $5.27;
Amazon.com
(AMZN) - Get Report
, up $12.06 to $56.81;
Charming Shoppes
(CHRS) - Get Report
, down 2 cents to $12.69;
Intel
(INTC) - Get Report
, up 32 cents to $22.26;
Cisco Systems
(CSCO) - Get Report
, up 45 cents to $26.78;
Sirius Satellite Radio
(SIRI) - Get Report
, up 6 cents to $2.83; and
Microsoft
(MSFT) - Get Report
, up 20 cents to $28.99.