NEW YORK (
) -- Shares of
got a boost in extended trades Monday after the Canadian maker of sports apparel said its board has authorized a two-for-one split of its common stock.
The split still requires shareholder approval however and the company expects the vote on the issue, as well as a corresponding increase in its allowable amount of outstanding stock to 400 million from 200 million, to take place as part of its annual meeting on June 8.
The stock was last quoted at $86.11, up 1%, on volume of around 45,000, according to
. The shares gained 8.4% in the regular session to close at $85.27, and have risen more than 90% in the past year, although their 52-week high of $85.28 came on Feb. 11.
The company, which was
Jim Cramer on Friday, is also seeking approval of a two-for-one split of its authorized amount of special voting stock.
Another winner after the closing bell was
, which reported better than expected quarterly results and gave a bullish full-year outlook.
For its fiscal fourth quarter ended Jan. 30, the New York-based apparel maker posted non-GAAP earnings of $67.5 million, or 93 cents a share, on revenue of $1.4 billion, ahead of the average estimate of analysts polled by
for a profit of 82 cents a share on revenue of $1.37 billion in the period.
The company, whose brands include Calvin Klein and Tommy Hilfiger, said it sees non-GAAP earnings of $1.14 to $1.16 a share for the first quarter ending in April on revenue of $1.32 billion to $1.35 billion, and non-GAAP earnings of $4.70 to $4.95 a share for the full year on revenue of $5.58 billion to $5.66 billion.
Those projections compare to the current average analysts' views for earnings of $1.18 a share and $4.75 a share respectively.
"We look forward to a strong 2011 that will be fueled by the international growth opportunities at Tommy Hilfiger and Calvin Klein," said Emanuel Chirico, the company's chairman and CEO, in a statement. "We believe we will be able to increase our profitability in 2011, despite the product cost increases that are being felt throughout our industry, through product design changes, sourcing realignment and sound inventory planning."
The stock was last quoted at $61.56, up 2.3%, on volume of more than 380,000, according to
. Based on a regular session close at $60.17, the shares have appreciated a little less than 6% in the past year.
Wall Street was pretty bullish on Philips-Van Heusen ahead of the report with 10 of the 13 analysts covering the stock at either strong buy (5) or buy (5) and the median 12-month price target sitting at $75, implying upside of roughly 25% from current levels.
tumbled 8% to $7.20 on volume of more than 80,000 after the lithium ion battery maker announced a
The company, whose shares are down more than 40% in the past year, is looking to sell an additional 18 million common shares and $125 million worth of convertible bonds.
As for the revenue view, A123 said it now sees revenue of $16 million to $18 million for the quarter, down from a prior view of "upper teens to low twenty million dollars" and attributed the shortfall to a disruption with a supplier in Japan impacted by the earthquake and tsunami earlier this month.
Communications chip maker
said late Monday that CEO Mario Rivas and Senior Vice President Greg White have resigned, sending the stock down more than 8% in after-hours action.
The shares were last quoted at $4.28, off 37 cents, on volume of nearly 20,000, according to
Anadigics named Ron Michels, previously a senior vice president and chief technology and strategy officer at the company, to assume the CEO role, while Chief Financial Officer Tom Shields takes on the additional post of chief operating officer.
The company didn't provide an explanation for the executive shake-up. Rivas had served as CEO of Anadigics since February 2009.
Written by Michael Baron in New York.
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