CR, SGMS, BYI, IGT, BMS, CPLA, CVG, FOE Popular Stocks
U.S. stocks traded mixed Tuesday with the Dow Jones Industrial Average rose 0.14% to 9882 but the S&P 500 down 0.33% to 1063 and the Nasdaq composite down 1.20% to 2116.
Crane’s (NYSE:CR, $30.59, +$4.11, 15.52%) third-quarter profit slid 2.3% as the maker of engineered industrial products again posted lower sales across all its businesses, but cost-cutting efforts allowed the company to top Wall Street expectations and raise its earnings projection for the year.
Scientific Games Corp.’s (NASDAQ:SGMS, $13.85, -$3.85, -21.75%) third-quarter earnings missed Wall Street estimates and the company announced the surprise departure of CEO Joseph Wright. The news prompted William Blair to cut the stock to market perform, saying there’s an “uncertain outlook” surrounding the company. The results also hurt gambling device and technology maker Bally Technologies Inc. (NYSE:BYI, $40.43, -$2.65, -6.15%) and slot-machine maker International Game Technology (NYSE:IGT, $19.16, -$1.37, -6.67%).
Bemis Co. (NYSE:BMS, $27.00, +$1.25, 4.85%) said its third-quarter profit fell a less-than-feared 19% amid charges while the food-and-beverage packager saw improved operating performance and higher margins. The company also boosted its full-year earnings forecast.
Capella Education Co. (NASDAQ:CPLA, $71.40, +$1.32, 1.88%) shares increased on heavy volume as third-quarter results beat views and enrollment rose 28% from a year earlier. CEO Kevin Gilligan said results were driven by strong demand, enrollment growth across all its degree programs and successful new product introductions including its newest Public Service Leadership market. Capella also projected fourth-quarter revenue above analysts’ views and again boosted its full-year view.
Convergys Corp. (NYSE:CVG, $11.01, +$0.35, 3.28%) posted a narrower third-quarter loss on smaller write-downs, as well as new business signings and continuing solid margins in its customer-management business. The company also forecast strong fourth-quarter earnings, excluding items, and revenue.
Ferro Corp. (NYSE:FOE, $6.15, -$0.64, -9.43%) announced plans to sell at least 29.5 million shares a day after the maker of industrial materials and chemicals reported weaker third-quarter results that were better than analysts feared.
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