Shares of Sonoco Products ( SON) were among the NYSE's winners Wednesday, jumping 10% after the packaging company posted better-than-expected second-quarter earnings and projected third-quarter earnings above Wall Street's forecast. For the second quarter, the company earned $49.3 million, or 49 cents a share, on revenue of $917 million. Excluding items, Sonoco earned $50.9 million, or 51 cents a share. Analysts polled by Thomson First Call expected earnings of 47 cents a share on revenue of $920.2 million. A year earlier, the company recorded adjusted earnings of $45.8 million, or 45 cents a share, on revenue of $878.2 million. Sonoco projects third-quarter earnings of 54 cents to 57 cents a share. Analysts anticipate earnings of 52 cents a share. Shares were trading up $3.20 to $34. CDW ( CDWC) climbed 9% after the computer products seller posted second-quarter earnings that easily topped forecasts. The company earned $73.1 million, or 91 cents a share, on revenue of $1.63 billion. Analysts expected earnings of 79 cents a share and revenue of $1.65 billion. During the year-earlier period, CDW earned $67.1 million, or 80 cents a share, on revenue of $1.54 billion. Shares were trading up $4.75 to $57.18. Shares of Packaging Corp. of America ( PKG) rose 9% after the packaging products company posted blowout second-quarter results and projected third-quarter earnings well above expectations. The company's second-quarter profit rose to $32.2 million, or 31 cents a share, from $27.8 million, or 26 cents a share, a year earlier. Analysts expected earnings of 23 cents a share. Revenue increased to $551.1 million from $519.3 million, surpassing analysts' forecast of $532.7 million. Looking ahead, Packaging Corp. forecast third-quarter earnings of 42 cents a share. Analysts, on average, project earnings of 37 cents a share. Shares were trading up $1.90 to $22.91. Jakks Pacific ( JAKK) fell 10% after the toymaker posted weaker-than-expected second-quarter results and slashed its full-year forecast. The company reported second-quarter earnings of $6.4 million, or 22 cents a share, on revenue of $124 million. Analysts expected earnings of 35 cents a share and revenue of $146.5 million. Last year, the company earned $11.6 million, or 38 cents a share, on revenue of $127.1 million, in the second quarter.
Jakks Pacific now sees full-year earnings of $2.32 a share, down from its earlier forecast of $2.63 a share. The company cut its revenue projection to $775 million from $825 million. Analysts project earnings of $2.40 a share and revenue of $787 million. "The decrease in projected sales is attributable to several factors, including delays in production and shipment relating to several of the company's products and a shortfall in sales of several items in our Fly Wheels category, as well as our international business," the company said. Shares were down $1.88 to $16.83. Shares of Briggs & Stratton ( BGG) fell 4% after the engine maker slashed its full-year earnings outlook for the second time in three months. The company now sees earnings of $100 million to $103 million, or $1.94 to $1.99 a share. Previously, the company predicted earnings of $132 million to $135 million, or $2.56 to $2.62 a share. Analysts project earnings of $2.55 a share on revenue of $2.68 billion. Briggs & Stratton had previously reduced its outlook in April. At the time, the company warned that it would not meet its original forecast for 2006 earnings of $144 million to $150 million, or $2.75 to $2.87 a share. Shares were down $1.22 to $27.37. Shares of Evergreen Solar ( ESLR) vaulted 11% after the maker of solar-power products received a $200 million contract from solar-technology company SunEdison. The agreement calls for Evergreen to ship photovoltaic modules to SunEdison over the next five years. Evergreen, which had 2005 revenue of $44 million, said the contract is the largest in its history. The company's shares recently changed hands at $11.92, up $1.18. Sonic Automotive ( SAH) dropped 5% after the auto-parts retailer cut its full-year guidance to reflect additional charges. The company sees full-year earnings of $2.05 to $2.15 a share, below an April projection of $2.32 to $2.42 a share. The company estimates second-quarter earnings of 41 cents to 43 cents a share. Analysts anticipate earnings of 67 cents a share for the second quarter and $2.45 for the full year. Sonic said the lower earnings targets are primarily the result of charges based on the company's decision to exit certain facility leases and cancel various facility improvement projects. Shares were down $1.03 to $20.43.
NYSE volume leaders included Lucent Technologies ( LU), up 3 cents to $2.08; JPMorgan Chase ( JPM), up $1.98 to $42.69; Ford ( F), down 1 cent to $6.43; Pfizer ( PFE), up 40 cents to $22.98; Motorola ( MOT), up 37 cents to $19.25; and Bank of America ( BAC), up $1.22 to $49.66. Nasdaq volume leaders included Yahoo! ( YHOO), down $6.12 to $26.12; Microsoft ( MSFT), up 33 cents to $23.07; Intel ( INTC), up 7 cents to $18.28; Cisco Systems ( CSCO), up 43 cents to $18.31; Oracle ( ORCL), up 28 cents to $15; JDSU ( JDSU), up 1 cent to $2.21; and Applied Materials ( AMAT), up 9 cents to $52.99.