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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

Agnico-Eagle Mines Ltd. (NYSE:AEM - News) reported fourth-quarter earnings more than doubled to 35 cents a share from 13 cents in the year-earlier period. The Toronto gold producer's revenue nearly doubled to $138.4 million from $71.4 million.

Ambassadors International (NasdaqGM:AMIE - News) shares climbed after Carnival Corp. (NYSE:CUK - News) said it signed a definitive agreement to sell its Windstar Cruises brand to Ambassadors $100 million. Carnival said the purchase price includes $40 million cash and the assumption of liabilities, and Carnival will provide mortgage financing for the remaining $60 million. Windstar Cruises operates three vessels and is a unit of Carnival's Holland America Line subsidiary.
Analog Devices Inc. (NYSE:ADI - News) fiscal first-quarter profit rose 26% on 6% higher sales. It sold more microchips used in industrial equipment and consumer electronics.
Arrow Electronics (NYSE:ARW - News) reported fourth-quarter earnings of $128.1 million, or $1.04 a share, up from a year-ago profit of $74.4 million, or 60 cents a share. Excluding certain items, such as restructuring charges and a gain from a tax settlement, the Melville, N.Y., electronics components distributor said it earned $92.2 million, or 75 cents a share, in the latest quarter. Sales rose in the latest three months to $3.49 billion from $2.96 billion in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of 73 cents a share in the December period. Looking ahead, Arrow sees earnings of 72 to 76 cents a share in the first quarter on sales ranging from $3.525 billion to $3.725 billion. Wall Street's current consensus estimate is for earnings of 74 cents a share in the March period.
Catalina Marketing Corp. (NYSE:POS - News) said it received an unsolicited proposal from ValueAct Capital Master Fund LP to acquire by merger all of the Catalina stock it doesn't already own, for $32 a share. Jeffrey Ubben, a Catalina director since May 2006, is principal owner of ValueAct, according to a statement. Catalina said it advised ValueAct that its proposal is under consideration by the company's board of directors.
Ensco International Inc.'s (NYSE:ESV - News) fourth-quarter net income rose to $210.4 million, or $1.39 a share, from $103.6 million, or 67 cents a share, a year ago. Earnings from continuing operations for the quarter were $1.36 a share, up from 65 cents a year ago. A Thomson Financial survey of analysts, on average, predicted earnings of $1.29 a share for the quarter. Analysts' estimates usually exclude items. The Dallas provider of contract drilling services said revenue for the quarter rose 51% to $470.6 million from $311.3 million last year. The company is "positive" about its 2007 outlook and expects first quarter results to be improved compared to the fourth quarter.
First Data Corp. (NYSE:FDC - News) said it would exit its official check and money-order operations over two to three years. The wind-down will free up $250 million to $300 million of cash for potential acquisitions, share repurchases and other purposes this year, FDC said.
Friedman, Billings, Ramsey Group Inc. (NYSE:FBR - News) reported a turn back to profit in the fourth quarter on Thursday, although the company today remained solidly in the red for the full year 2006. Friedman, Billings said it earned $3.8 million, or 2 cents a share, reversing a loss of $271.6 million, or $1.60 a share, in the year-ago period. Revenue came in at just under $176 million, vs. negative revenue of $114 million due to an investment loss in the same quarter of 2005. For the full year 2006, Friedman, Billings lost 39 cents a share, compared to a loss of $1.01 a share in 2005.
General Maritime Corp.'s (NYSE:GMR - News) fourth-quarter net income fell 79% on 56% lower revenue, hurt by lower spot charter rates and a smaller fleet.
HealthSpring Inc.'s (NYSE:HS - News) fourth-quarter net income more than tripled to 35 cents from 10 cents in the year-earlier period. The Nashville provider of prescription-drug plans posted revenue of $335.7 million, up from $246.1 million. The company still expects 2007 earnings of $1.55 and $1.65 a share on revenue of $1.5 billion to $1.6 billion.
Hilb Rogal & Hobbs Co. (NYSE:HRH - News) fourth-quarter earnings rose to 59 cents a share from 54 cents in the year-earlier period. Revenue at the Richmond, Va., insurance and risk management intermediary climbed to $175.5 million from $164 million. Lamar Advertising Co.'s board declared a special dividend of $3.25 a share, payable March 30 to shareholders of record March 22.
Industrial Distribution Group Inc. (NasdaqGM:IDGR - News), a maker and distributor of cutting tools and abrasives, said fourth-quarter net income rose 33% to $1.9 million, or 20 cents a share, from $1.5 million, or 15 cents a share, a year earlier. Sales climbed 1% to $131.6 million. Gross margins in the quarter came in at 23% compared to 22.4% in the year-ago period.
J.C. Penney Co. (NYSE:JCP - News) on Thursday said fourth-quarter net income slipped to $477 million, or $2.09 a share, from $551 million, or $2.34 a share, in the year-ago period. On a continuing operations basis, it earned $2 a share vs. $1.92 a year earlier. Total net sales rose to $6.66 billion from $6.2 billion, while sales at stores open at least one year rose 2.2%. Analysts, on average, expected it to earn $1.97 a share on revenue of $6.64 billion, according to Thomson Financial. For the first quarter, Plano, Texas-based J.C. Penney expects to earn 99 cents a share, for the year it is targeting profit at $5.44 a share. Analysts polled by Thomson Financial expect it to earn $1.05 a share for the first quarter and $5.42 for the year.
Monarch Casino & Resort Inc. (NasdaqGS:MCRI - News) shares rose after Standard & Poor's said it will add the company to the S&P SmallCap 600 index on a date to be announced, replacing Advo Inc. (NYSE:AD - News).
Moscow CableCom Corp.: (NasdaqGM:MOCC - News) Renova Media Enterprises Ltd. agreed to acquire the equity in Moscow CableCom that it does not already own for $12.90 a share and an equivalent price for Moscow CableCom's Series A convertible preferred stock.
National Semiconductor (NYSE:NSM - News) was upgraded to overweight from equal-weight by Morgan Stanley. "Following three consecutive quarters with negative surprises, we believe that National Semiconductor's fundamentals will likely bottom in the current quarter. Although we expect the ensuing recovery in fundamentals to be slow and potentially choppy during the next couple of quarters, we expect the company's underlying earnings power to show solid signs of improvement during the next couple of years, and this trend should drive NSM higher," the broker said.
OfficeMax Inc. (NYSE:OMX - News)earned 76 cents a share in the fourth quarter, compared with a loss of 62 cents in the year-earlier period. Excluding items, the office-supply retailer earned 48 cents a share compared with 7 cents. From continuing operations, OfficeMax earned 71 cents. Sales fell to $2.26 billion from $2.46 billion. Analysts, on average, expected it to earn 40 cents on revenue of $2.31 billion, according to Thomson Financial. In the retail segment, sales at stores open at least one year fell 0.4%.
PDL BioPharma Inc. (NasdaqGS:PDLI - News) reported that its fourth-quarter net loss widened to 78 cents a share from 31 cents in the year-earlier quarter. Excluding one-time items, the Fremont, Calif., biopharmaceutical company earned 5 cents a share. Revenue climbed to $107.8 million from $83.7 million. For 2007, PDL forecast earnings of 38 cents to 54 cents a share on revenue of $450 million to $500 million. Wall Street is currently forecasting 64 cents on revenue of $495.7 million.

Published By MarketWatch

Labels: AD, ADI, AEM, AMIE, ARW, CUK, ESV, FBR, FDC, GMR, HRH, HS, IDGR, JCP, MCRI, MOCC, NSM, OMX, PDLI, POS