Shares of Overhill Farms ( OFI) surged after the frozen-food maker announced it will sell its products to a "major national food brand" under a three-year contract, sales for which are estimated at roughly $43 million in the first year. Production began earlier this month. The Vernon, Calif., company's stock was trading a dollar higher, at $4. Trident Microsystems ( TRID) was upgraded to overweight from neutral by Prudential after the semiconductor company said sales soared 73% from a year ago to $70.2 million in the quarter ended Dec. 31, topping Thomson Financial's estimates by roughly $1 million. The results were called preliminary; the Sunnyvale, Calif.-based company is calculating its restatements due to recently discovered stock-option backdating, which should reflect noncash charges of between $40 million and $50 million from 1994 through 2006. Nasdaq has given Trident until April 2 to file its tardy financials, which were held up by the prior stock-option grant probe and had triggered two delisting warnings. Trident has asked for a longer extension. Shares were adding $2.53, or 13.9%, to $20.80. Paper-products maker Rock-Tenn ( RKT) swung to a profit of $15.1 million, or 39 cents a share, in the fiscal first quarter ended Dec. 31; year-ago losses had totaled $9 million, or 25 cents a share. Revenue was up 8.9% to $533.9 million. The Georgia-based outfit was gaining $3.12, or 10.9%, to $31.83.
Bottomline Technologies ( EPAY) was higher after the financial-software firm's profits didn't shrink as much as Wall Street had predicted they might. The Portsmouth, N.H.-based company earned $2.4 million, or a dime a share, down from $3.6 million, or 16 cents a share, a year ago, but the consensus called for 2 cents a share. Sales totaled $29.7 million, up from last year's $26.1 million, and above the $27.2 million consensus. Shares were adding $1.47, or 14%, to $11.94. Corriente Resources ( ETQ) was tanking on word the Canada-based company will delay production on its Ecuadorian copper-gold mine, Mirador, to begin in mid-2009 rather than in late 2008. This is ultimately because Corriente still hasn't attained key permits and government agreements and is currently under a suspension order by the Ministry of Mines -- both of which prompted the company to minimize current long lead-time equipment deliveries for the project. Shares were down 61 cents, or 20%, to $2.45. Coast Financial ( CFHI) slumped after the Florida-based regional bank announced it had hired a financial advisor, Sandler O'Neill & Partners, in order to evaluate "strategic alternatives." Board Chairman James Toomey noted that "all options would be on the table, including remaining independent." Shares were losing $1.03, or 12.8%, to $7.01. Charlotte Russe ( CHIC) slid on disappointing results. The San Diego-based women's clothing retailer earned $13.9 million, or 55 cents a share, compared with $7.1 million, or 29 cents a share, last year. Analysts were looking for a penny more. Same-store sales rose 1.5%, compared with last year's 16.3-point increase, and overall revenue grew 17.2% to $209.2 million -- just shy of the $212.9 million target. On the heels of these financials, a Roth Capital analyst cut the stock's rating to hold from buy. Shares were off $4.33, or 13.2%, to $28.55.