Arqule Inc. (NasdaqGM:
ARQL -
News) shares rose 6.7% Thursday after the company was initiated with a buy rating at WR Hambrecht & Co.
Bon-Ton Stores Inc. (NasdaqGS:
BONT -
News) shares surged 16% after the York, Pa., retailer reported that February sales tripled and comparable-store sales rose nearly 14.6%. A survey of analysts by Thomson Financial produced a consensus estimate of same-store sales down 2%. Total sales reached $237.6 million from $72.2 million, reflecting $153.4 million from Carson's and Parisian stores acquired in 2006. Carson's sales aren't included in the comparable-store-sales figure. Bon-Ton said that Carson's comparable-store sales for the period increased 7.2%, while the combined Carson's and Bon-Ton comparable sales advanced 9.8%.
California Coastal Communities (NasdaqGM:
CALC -
News) shares gained 8.7% after the company was upgraded to market outperform from market perform at JMP Securities.
Catalina Marketing (NYSE:
POS -
News) shares rose 5.5% after the company agreed to be acquired by ValueAct Capital for $1.7 billion, including the assumption of about $135 million in debt. The deal values shares of Catalina, a St. Petersburg, Fla., promotional messaging company, at $32.10 each in cash, compared to the stock's close on Wednesday at $29.85, down 4.1%. The agreement allows Catalina to solicit and entertain alternative acquisition proposals from third parties for the next 45 days. Catalina expects the transaction to close in the next several months.
CSP Inc. (NasdaqGM:
CSPI -
News) shares gained 15% after the Billerica, Mass.-based IT services provider reported fiscal first-quarter net income of $978,000, or 25 cents a share. In the same quarter last year, the company posted a net loss of $546,000, or 15 cents a share. Revenue rose to $21.1 million from $15.1 million.
Culp Inc. (NYSE:
CFI -
News) shares rose 5.9% after the company said its third quarter net loss widened slightly to $2.2 million from $2.17 million. The High Point, N.C.-based company's loss per share for the quarter was unchanged at 19 cents a share. Quarterly net sales fell to $55.7 million from $61 million.
Delphi (Other OTC:
DPHIQ.PK -
News) shares gained 8.8% after the company filed to issue nearly $2 billion worth of common stock to shareholders as a key step toward funding its emergence from bankruptcy. According to a filing with the Securities and Exchange Commission, the auto parts maker is offering current stockholders the right to buy 56,700,000 shares at $35 each.
Fred's Inc. (NasdaqGS:
FRED -
News) shares rose 6.5% after the company said its February sales at stores open at least one year rose 3.9%. Analysts, on average, had expected its same-store sales to rise 2%, according to Thomson First Call. Total sales for the four weeks ended March 3 rose 8% to $143.9 million.
KLA-Tencor (NasdaqGS:
KLAC -
News) shares rose 4% after Morgan Stanley upgraded the company to overweight from equal weight and lifted its price target to $65 from $60.
La Jolla Pharmaceutical Co. (NasdaqGM:
LJPC -
News) shares surged 31% after the company announced positive interim antibody results from its Phase II trial of Riquent, its drug candidate for systemic lupus erythematosus. The results showed a significant dose response when comparing all Riquent-treated patients to placebo-treated patients, the company said. "We are very excited by these results," said Deirdre Gillespie, president and chief executive, in a statement. "The higher the dose, the greater the reduction in antibodies to dsDNA, and the relative magnitude of these reductions is greater than we have seen in previous studies, which used lower doses of Riquent."
Mamma.com (NasdaqCM:
MAMA -
News) shares gained 19% after the company swung to a fourth-quarter profit on higher revenue as a result of an increase in search advertising revenue, new software licensing contracts and increase in customized development and maintenance support. The Montreal provider of Internet search services said it earned $420,000 or 3 cents a share in the latest quarter versus a loss of $763,000 or 6 cents a year earlier. Revenue rose to $3.6 million from $1.6 million last year.
Men's Wearhouse Inc. (NYSE:
MW -
News) shares gained 9.4% after the company said it expects first-quarter earnings between 63 cents and 67 cents a share, assuming same-store sales rise 1% to 2% in the U.S. and 5% to 6% in Canada. The Houston-based seller of men's apparel also expects to earnings between $2.80 and $2.91 a share for the fiscal year ending Feb. 2.
New York & Co. (NYSE:
NWY -
News) shares rose 16% after the company said same-store sales rose 2.7% in February. The average estimate of analysts polled by Thomson Financial was for growth of 2.1% for the month. Total sales for the four weeks ended March 3 increased 8.9% to $87.7 million from $80.6 million in the same period a year earlier.
Nighthawk Radiology Corp. (NasdaqGM:
NHWK -
News) shares gained 5.1% after the company was upgraded to market perform from underperform at Piper Jaffray.
Nucor Corp. (NYSE:
NUE -
News) shares rose 5.3% Thursday morning after the second-largest U.S. steel producer forecast strong first-quarter earnings and said shrinking steel stockpiles should support profits for the rest of the year.
Omni Energy Services Corp. (NasdaqGM:
OMNI -
News) shares leapt 17% after the company said it expects fiscal 2007 revenue of more than $175 million, an 80% increase over last year. Excluding certain tax benefits, the Carencro, La.-based company said it expects net income may rise as much as 70% to more than $17 million. Earnings before interest, taxes, depreciation and amortization could increase more than 60% to exceed $40 million, the company said. Additionally, Omni said it sees slightly improved gross profit margins for the year with the inclusion of a full-year's operations from its rental equipment division.
PriceSmart Inc. (NasdaqGM:
PSMT -
News) shares jumped 18% after the company said February same-store sales rose 21% over year-earlier levels. Total sales for the month rose 21% to $63.3 million from last year's $52.5 million.
RehabCare (NYSE:
RHB -
News) shares gained 7.7% after the company reported fourth-quarter earnings of $2.1 million, or 12 cents a share, on revenue of $182.2 million, up from a loss of $31.8 million, or $1.89 a share, in the same period a year earlier, on revenue of $123.4 million.
Resource Capital Corp. (NYSE:
RSO -
News) shares rose 6.8% after the company reported fourth-quarter earnings of $6.8 million, or 36 cents a share, up from a year-ago profit of $4.9 million, or 32 cents a share. The New York City real estate investment trust estimates that it will pay dividends of between $1.65 and $1.80 per common share.
Seattle Genetics (NasdaqGM:
SGEN -
News) shares gained 7% after the company was initiated with a buy rating at Caris & Co.
Zumiez Inc. (NasdaqGS:
ZUMZ -
News) shares climbed 14% after the company said its February sales at stores open at least a year increased 12.4%. Analysts, on average, expected the retailer to post a same-store sales increase of 7.1%, according to a survey by Thomson Financial. Total net sales for the four-week period ended March 3 increased 43.9% to $20.7 million, from $14.4 million for the four-week period ended Feb. 25, 2006.
Published By Michael Baron of MarketWatch
Labels: ARQL, BONT, CALC, CFI, CSPI, FRED, KLAC, LJPC, MAMA, MW, NHWK, NUE, NWY, OMNI, POS, PSMT, RHB, RSO, SGEN, ZUMZ
