FWLT, RHB, HSIC, STEC, EMC, MMC, TWX, MPAC Popular Stocks
U.S. stocks traded higher Wednesday as the Dow Jones Industrial Average gained 1.13% to 9882, the S&P 500 rose 0.92% to 1055 and the Nasdaq Composite climbed 0.57% to 2069.
Foster Wheeler AG’s (NASDAQ:FWLT, $30.21, +$0.51, 1.72%) third-quarter profit dropped 30% amid weak demand for engineering and construction projects, though stronger margins helped it top Wall Street’s earnings expectations.
RehabCare Group Inc. (NYSE:RHB, $23.66, +$4.71, 24.85%) reported better-than-expected third-quarter revenue and announced it is acquiring Triumph Healthcare, a developer and operator of long-term acute care hospitals, for $570 million.
Henry Schein Inc.’s (NASDAQ:HSIC, $51.48, -$2.58, -4.77%) third-quarter profit rose 43%, helped by unusual items and a small revenue gain, but the seller of medical and dental products cooled expectations for this year and next.
STEC Inc. (NASDAQ:STEC, $14.68, -$8.47, -36.59%) got pummeled in more ways than one after beating the Street for the third quarter. Three firms cut their ratings on the memory-products company, all citing STEC’s warning that inventory will stay high thanks to largest customer, EMC Corp. (NYSE:EMC, $16.50, -$0.05, -0.30%), not buying what was expected because its own inventory was too high.
Marsh & McLennan Cos. (NYSE:MMC, $22.98, -$0.39, -1.68%) said Wednesday it returned to profitability in the third quarter amid improving earnings in its risk and insurance services division and a decline in expenses. Marsh & McLennan earned $221 million, or 41 cents per share, during the quarter ended Sept. 30. It lost $8 million, or 2 cents per share, during the same period last year.
Media conglomerate Time Warner Inc. (NYSE:TWX, $30.33, +$0.17, 0.55%) reported a 38 percent drop in third-quarter profit, hurt by declines at its AOL and publishing segments. The results beat expectations and the company boosted its full-year earnings forecast. And Time Warner said it is still on track to spin off AOL.
Mod-Pac Corp. (NASDAQ:MPAC, $3.99, +$1.54, 62.86%) turned a profit of $1.1 million, or 29 cents per share, in the third quarter, on what officials say was exceptional sales of custom folding cartons offsetting a drop on two other product lines.
Related Posts
