Shares of Cal-Maine Foods Inc. (NASDAQ: CALM), a producer and marketer of shell eggs in the U.S., are climbing in trading today. At last check, CALM shares were trading 2.51% higher at $46.07 on above average volume of 141,553. CALM shares hit a 52-week high of $47 in early trading today.
CALM shares are gaining after the company reported its first-quarter financial results. For the quarter ended September 1, 2012, CALM reported net sales of $272.9 million, compared to $243.8 million reported for the same period in the previous year. Net income for the first quarter was $9.4 million, or $0.39 per share, compared to $3.1 million, or $0.13 per share reported for the same period in the previous year.
Dolph Baker, Chairman, President and CEO of Cal-Maine Foods, said that he is pleased with CALM’s financial and operating performance for the first quarter of fiscal 2013 and these results reflect a strong start to the company’s fiscal year.
Shares of The Wendy’s Company (NASDAQ: WEN), a quick-service hamburger company, are down sharply in trading today. At last check, WEN shares were trading 4.97% lower at $4.30 on volume of 2.68 million. WEN shares an intra-day low of $4.26 in trading today.
WEN shares are falling following a rating downgrade from Janney Capital. Analysts at Janney Capital downgraded WEN from Buy to Neutral rating after channel checks indicated a slowdown in North American same-store sales. Janney Capital has a price target of $4.75 on WEN shares.
Shares of Tenet Healthcare Corp. (NYSE: THC), an investor-owned health care services company whose subsidiaries and affiliates own and operate acute care hospitals, ambulatory surgery centers, diagnostic imaging centers and related health care facilities, are soaring in trading today. At last check, THC shares were trading 5.42% higher at $6.61 on volume of 4.28 million. THC shares hit a 52-week high of $6.74 in early trading today.
THC shares are soaring after the company announced a four-point plan to drive shareholder value creation. The company’s plan includes near-term acquisition to boost its primary business lines, a new $500 million authorization to repurchase common stock in open market transactions, $800 million of new debt, and a reverse stock split in which one new THC share will be issued in exchange for every four existing shares.
Trevor Fetter, President and CEO of Tenet Healthcare, said that THC has attractive opportunities to accelerate the growth of its core business and position its balance sheet to enhance shareholder value.
Shares of Forum Energy Technologies Inc. (NYSE: FET), an oilfield products company serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry, are lower in trading today. At last check, FET shares were trading 0.37% lower at $24.23 on volume of 129,501. FET shares hit an intra-day low of $23.21 in trading today.
FET shares slipped in trading today following a rating downgrade from FBR Capital. Analysts at FBR downgraded FET from Outperform to Market Perform. FBR has a price target of $26 on FET shares.
Shares of TW Telecom Inc. (NASDAQ: TWTC), a national provider of managed network services, specializing in business Ethernet, data networking, Converged, Internet protocol-based virtual private network (IP VPN), Internet access, voice, and network security services to enterprise organizations and carriers throughout the U.S., are climbing in trading today. At last check, TWTC shares were trading 3.45% higher at $26.99 on above average volume of 2.48 million. TWTC shares hit a 52-week high of $27.50 in trading today.
Recent Comments