US HOT STOCKS: Lawson Software Active In Late Trading

8th Jul 2010 22:16

U.S. stocks closed higher Thursday as the Dow Jones Industrial Average rose 121 points to 10139, the S&P 500 gained 10 points to 1070 and the Nasdaq Composite moved up 16 points to 2175. Among the companies whose shares are actively trading in the after-hours session are Lawson Software Inc. (LWSN), Conceptus Inc. (CPTS) and Big 5 Sporting Goods Corp. (BGFV). Lawson Software's fiscal fourth-quarter earnings fell 30% as restructuring charges and other effects again obscured core-profit growth, better sales and improved margins. But shares fell as much as 4.9% to $7.25 after hours as the business-software maker gave a weak outlook. Conceptus lowered its second-quarter and full-year guidance, citing the weak economy--which has reduced visits to doctors--as well as the stronger dollar and company initiatives related to competitive trialing. Shares of the contraceptive developer sank 25% to $11.85 in after-hours trading. Big 5 Sporting Goods cut its second-quarter earnings guidance as it posted a surprise 0.5% drop in same-store sales, which it blamed on the sluggish economic recovery. Shares of the regional sporting-goods retailer slid 2.4% in after-hours trading to $11.72. Regular-Session Movers U.S. retailers turned in mixed results as June same-store sales were reported, with the inconsistency indicating the economy's slow recovery is keeping consumer spending restrained. Among the better showings were from Abercrombie & Fitch Co. (ANF, $35.45, +$2.55, +7.75%), which blew away expectations, Hot Topic Inc. (HOTT, $5.30, +$0.46, +9.50%), Zumiez Inc. (ZUMZ, $17.86, +$0.60, +3.48%) and J.C. Penney Co. (JCP, $23.24, +$1.46, +6.70%). Meanwhile, Gap Inc. (GPS, $18.22, -$1.50, -7.62%) missed expectations as did TJX Cos. (TJX, $41.53, -$1.98, -4.55%), Buckle Inc. (BKE, $28.61, -$3.10, -9.78%) and Kohl's Corp. (KSS, $47.97, -$0.56, -1.15%). H&R Block Inc. (HRB, $14.22, -$1.27, -8.20%) said Chief Executive Russ Smyth has resigned and will be replaced by board member Alan M. Bennett. The company hired Smyth, who is leaving to become chief of an unnamed "large private company" in Chicago, in 2008 after Mark Ernst resigned in November 2007. Bennett had served as interim CEO between Ernst and Smyth. Greenbrier Cos. (GBX, $11.91, +$1.12, +10.38%) swung to an unexpected profit in the third quarter on sharply higher margins even as revenue dropped on lower deliveries. For the quarter ended May 31, Greenbrier reported a profit of $4.6 million, or 23 cents a share, compared with a year-earlier loss of $51.1 million, or $3.04 a share, and well above the 2-cent loss Wall Street had predicted. First BanCorp of Puerto Rico (FBP, $0.65, +$0.23, +54.34%) said it will issue preferred shares convertible to common stock to swap for those preferred holdings the U.S. Treasury Department had as part of the bank's bailout. Sun Bancorp Inc. (SNBC, $4.95, +$1.34, +37.12%) said billionaire investor Wilbur Ross's private equity firm, Sun's founding Brown Family and others have agreed to invest $100 million in equity as the bank grows its New Jersey base. Physicians liability insurer Doctors Co. agreed to acquire American Physicians Capital Inc. (ACAP, $40.63, +$8.87, +27.93%) for about $386 million, adding a regional player to its roster and boosting membership some 20%. Doctors Co., the largest insurer of physician and surgeon medical liability in the U.S., will pay $41.50 a share, what would be an all-time high for the stock. After rising more than 6% on Wednesday, shares of Madison Square Garden Inc. (MSG, $20.38, -$1.19, -5.52%) slid back on the day that prized professional basketball star LeBron James is to announce his decision on where he will sign a contract. The New York Knicks, which play in Madison Square Garden and whose games are aired on the company's television channel, are in the running for James, though rumors abound he may head elsewhere. Anadarko Petroleum Corp.'s (APC, $44.56, +$2.97, +7.14%) shares gained the energy company's bonds rallied and investors saw the company's entire capital structure as less risky, said Subash Chandra, analyst at Jefferies & Co. Anadarko's stock also benefited from investors perception that a broken well that has been spewing oil into the Gulf of Mexico's waters is about to be plugged. Andarko has a 25% interest in the BP PLC (BP, $33.74, +$0.55, +1.66%)-operated Macondo well. A. Schulman Inc.'s (SHLM, $20.71, +$2.06, +11.05%) fiscal-third-quarter profit surged on tax benefits and improved sales, particularly in its major European markets, as earnings topped expectations even as the margin decreased on higher costs. The supplier of raw materials for plastics has been restructuring since 2008 to battle distressed demand. Last year, it continued the efforts by cutting personnel. Bebe Stores Inc.'s (BEBE, $6.58, -$0.33, -4.78%) fiscal fourth-quarter retail sales fell 4.4%, missing analysts' estimates, though the drop was sharply less than what the women's clothing retailer has seen in recent quarters. Boeing Co. (BA, $64.73, +$1.43, +2.26%) said it would acquire a privately held software company specializing in protecting large Internet protocol networks from being attacked. Terms of the deal to purchase Narus weren't disclosed. Blackboard Inc. (BBBB, $37.06, -$0.84, -2.22%) said it agreed to acquire Elluminate Inc. and Wimba Inc., both providers of technology to the education market, for a total of $116 million in cash. DragonWave Inc. (DRWI, $4.70, -$0.91, -16.22%), which provides microwave-backhaul equipment to wireless carriers, missed expectations for its revenue in its fiscal first quarter and then projected second-quarter revenue at barely over half of what the Street was expecting. Longbow Research cut its stock-investment rating on business software-solutions company Epicor Software Corp. (EPIC, $7.40, -$0.75, -9.20%) to neutral from buy, saying the market looks more muted in the company's small business market than the analysts expected. (MORE TO FOLLOW) Dow Jones Newswires July 08, 2010 17:16 ET (21:16 GMT)