Champs & Chumps ..........Stock Market Winners & Losers

Friday, September 08, 2006

Stock Market Champs ..........9-08-06

TriPath Imaging Inc. (TPTH)


Last Trade:9.04
Trade Time:4:00PM ET
Change:Up 0.80 (9.71%)

TriPath Imaging Inc. on Friday agreed to be acquired by Becton, Dickinson and Co. for $9.25 a share in cash.

A month ago, Becton, Dickinson had offered to acquire 93.5 percent of TriPath shares, which it does not already own.

TriPath, which develops, manufactures and markets products used to detect, diagnose and treat cancer, said it expects to close the deal during the fourth quarter of calendar 2006.


Cooper Tire & Rubber Co. (CTB)

Last Trade:11.20
Trade Time:4:02PM ET
Change:Up 1.47 (15.11%)


Cooper Tire Up on Recovery Plan


Cooper Tire Up After Recovery Plan Outlined by Interim CEO

Cooper Tire & Rubber Co. stock rose Friday, a day after the company outlined a plan to cut costs by $70 million and realize $100 million in additional "profit improvement."

Shares of Cooper Tire rose $1.47, or 15 percent, to close at $11.20 on the New York Stock Exchange.

The interim chief executive of Findlay, Ohio-based Cooper told an analyst conference Thursday that his "number one priority" is to fix the North American tire division.

The plan includes "more contemporary" product management, mix improvement, better pricing and a change in manufacturing strategy.

Cooper also plans to cut inventory, which was $465 million as of June 30, by $100 million. Cooper produces replacement tires and said it didn't anticipate the weak demand for tires in the first half of the year.

The move comes after Cooper's second-quarter loss more than doubled to $20.7 million, or 34 cents a share, from the same period a year earlier. Former Chief Executive Thomas Dattilo resigned in August.

Shares of tire makers have been on the upswing recently as prices of some key raw materials have gone down. High prices for natural rubber and oil-based products have pinched tire maker margins this year.

Equifax Inc. (EFX)

Last Trade:36.34
Trade Time:4:01PM ET
Change:Up 3.92 (12.09%)

Equifax Inc. , one of the three major U.S. credit reporting bureaus, on Friday said it raised its 2006 earnings forecast, sending its shares soaring nearly 9 percent.

Equifax, which is outlining its growth plans through 2010 at an investor conference, raised its profit forecast to more than $2 a share from a prior range of $1.90 to $1.99.

Equifax also lowered its capital spending target to a range of $55 million to $60 million from a previous range of $60 million to $65 million.

Equifax shares were up $2.81 at $35.23 in morning trading on the New York Stock Exchange.

The credit reporting company, which also compiles other consumer and commercial data, reiterated its previous forecast for 2006 revenue growth of 7 percent to 10 percent and cash from operations of $360 million to $365 million.

It forecast similar annual growth in revenue through 2010, earnings-per-share growth of more than 10 percent a year over the same period, and cumulative cash from operations in excess of $1.9 billion.

SGX Pharmaceuticals Inc. (SGXP)

Last Trade:2.30
Trade Time:4:00PM ET
Change:Up 0.42 (22.34%)

FortuNet, Inc (FNET)
Last Trade:7.70
Trade Time:4:00PM ET
Change:Up 0.78 (11.27%)

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home