( ICO) were among the
losers Wednesday, plunging 18% after the coal producer slashed its 2006 bottom-line projection.
The company now sees a full-year loss of 7 cents to 10 cents a share on revenue of $900 million. Previously, the company predicted a profit of 15 cents to 21 cents a share. Analysts polled by Thomson First Call project earnings of 19 cents a share on revenue of $1.01 billion. International Coal attributed the revision to the idling of its Sycamore 2 mine and continued cost pressures at mines in the central and northern Appalachian regions.
"This year has been an extraordinarily trying one for our management group with our focus diverted among several problems during the first half," International Coal said. Shares were trading down $1 to $4.53.
Energy Conversion Devices
( ENER) jumped 12% after the battery maker posted fiscal fourth-quarter results that beat forecasts. The company reported a loss of $769,000, or 2 cents a share, narrowed from $6.9 million, or 23 cents a share, a year earlier. Analysts expected a wider loss of 15 cents a share for the recent quarter. Revenue rose to $27.9 million from $20.9 million, compared with Wall Street's forecast of $27.8 million. Energy Conversion shares rose $4.17 to $37.16.
shot up 14% after the maker of filtration products reported fourth-quarter results that topped Wall Street's expectations. For the period ended July 31, Pall earned $62.8 million, or 50 cents a share, up from $43.4 million, or 34 cents a share, a year earlier. Analysts, on average, anticipated earnings of 46 cents a share. Sales increased to $597.3 million from $524.5 million a year earlier, surpassing analysts' mean estimate of $555.6 million.For fiscal 2007, Pall forecast earnings of $1.47 to $1.60 a share. Analysts target a profit of $1.48 a share. Shares recently changed hands at $30.76, up $3.76.
shares slid 3% after the shopping-center developer cut its funds-from-operations forecast. The company now sees third-quarter FFO of 34 cents to 36 cents a share, down from its prior projection of 40 cents to 43 cents. For the full year, Equity One lowered its FFO guidance to $1.54 to $1.58 a share from a previous forecast of $1.65 to $1.72. Analysts predict third-quarter FFO of 41 cents a share and full-year FFO of $1.68 a share. Equity One shares were off 79 cents to $24.45.
( ACF) were active after the auto-finance company announced the pricing of its $500 million convertible senior notes offering and announced a $300 million stock repurchase plan. The company said about $254 million of the stock buyback will be funded from proceeds of the notes offering. Shares recently were up 37 cents to $24.78 on volume of more than 16 million shares, compared with the daily average of 1.3 million shares.
( JOYG) rose 3% after the mining-equipment maker sharply boosted its stock buyback plan. The company now plans to repurchase up to $1 billion in stock, compared with its previous authorization of $300 million. Joy Global also extended the buyback program to the end of calendar 2008 from May 2007. Additionally, the company's board authorized debt borrowings of up to $400 million.
"We are very pleased with the actions taken by the board of directors today," the company said late Tuesday. "Our current stock buyback program is nearly completed. Given our continued ability to generate strong free cash flow and our commitment to increasing shareholder value, we believe that reauthorization is appropriate." Shares were up $1.27 to $39.27.
rose modestly after the retailer boosted its stock buyback plan by $500 million. The new authorization is in addition to the $118 million in shares that the company has left to repurchase under its prior $1.5 billion plan. Since September 2005, Sears has repurchased about 11 million shares at an average cost of $126.14 a share. Shares were up 97 cents to $156.81.
NYSE volume leaders included
, up 42 cents to $9.48;
( NT), up 1 cent to $2.33;
Advanced Micro Devices
, up 47 cents to $26.95;
( LU), unchanged at $2.36;
, down 7 cents to $34.60;
, down 41 cents to $23.93;
( MOT), down 41 cents to $23.93;
, up 69 cents to $52.01; and
, up 94 cents to $23.14.
volume leaders included
, up 7 cents to $2.25;
, unchanged at $5.19;
, up 1 cent to $22.66;
, up 10 cents to $16.40;
, down 5 cents to $19.70;
, up 39 cents to $73.02; and
, down 11 cents to $28.34.