Updated from 3:52 p.m. EST
closed up $2.10, or 35%, to $8.06 on Friday, a day after the sporting goods company beat Wall Street estimates on stronger firearm sales. Cabela's reported a 12% decline in profit in the fourth quarter.
"Our improved retail execution with a particular emphasis on sales of firearms and related accessories, along with an aggressive merchandise strategy to take market share, increase inventory turns and improve cash flow, is working," Dennis Highby, Cabela's president and CEO, said in Thursday's earnings release. "We are pleased to see these improved sales results continuing into 2009 and expect first-quarter same store sales to be positive as well."
Group One Automotive
saw its shares rise $2.22, or 29.9% to $9.64 after a Wachovia upgrade to outperform on Friday, for reducing its debt. The company had reported a $44.5 million fourth-quarter loss Thursday as vehicle sales plunged. Excluding charges and a gain related to debt repurchases, Group One earned 8 cents per share.
shares plunged to a 20-year low, falling $5.46, or 42.9% to $7.27 following a fourth-quarter loss and a downgrade. Volume approached 5.8 million shares. In the fourth quarter, Chiquita lost $412 million, or $9.28 per share, compared with a loss of $26 million, or 68 cents per share, in the same quarter last year. The company blamed flooding and higher costs.
Morgans Hotel Group
was down 44 cents, or 18.8%, to $1.90. On Feb. 11, the boutique hotel chain reported that its revenue per available room had plummeted in the fourth quarter.
crumbled 22.7%, or 65 cents a share, to $2.22, a day after the Monterey, Calif., company reported Thursday a $700 million loss in the fourth quarter.