Furniture Brands Rises on Outlook While Select Comfort Falls in Aftermarket Trading
NEW YORK (AP) — Furniture Brands International Inc.’s improved outlook lifted shares of the furniture maker in aftermarket activity, while Select Comfort Corp. shares fell on a bleaker sales forecast.
Furniture Brands International Inc. jumped 49 cents, or 3.5 percent, to $14.50 in the extended session after the company said it expects to post a smaller loss and sales decline for the second quarter than previously projected.
The company sells furniture under the Broyhill, Thomasville and Lane brands.
Shares climbed 3.4 percent to close the regular trading session at $14.01.
Hoku Scientific Inc. picked up $3.45, or 75 percent, to $8.05 in extended trading after rising 2 cents during the regular session.
The energy company said its Hoku Materials unit signed a $678 million contract for the sale and delivery of polysilicon to solar cell maker Suntech Power Holdings Co.
Under the terms of the deal, Suntech will pay an initial $2 million deposit and prepayment of $45 million.
Casey’s General Stores Inc. jumped $1.23, or 4.6 percent, to $27.90 after the convenience store operator easily beat analyst estimates with its fourth-quarter profit.
Earnings rose 59 percent, aided by a one-time gain and stronger margins across its gasoline, grocery and other offerings.
The company also boosted its quarterly dividend by 1.5 cents to 6.5 cents per share.
Shares closed the regular session at $26.67.
Sanofi-Aventis dropped 60 cents, or 1.4 percent, to $43.67 in the late session after a Food and Drug Administration advisory panel said the drug maker failed to show its weight-loss drug rimonabant is safe.
The panel’s comments mean FDA approval is unlikely. The agency usually follows its panel’s advice, but it isn’t required to do so.
The drug is suspected of causing suicidal behavior. The FDA is to make a final decision on the drug by July 27.
Shares closed the regular session at $43.07.
Select Comfort Corp. gave up 97 cents, or 5.7 percent, to $16 in the late session after the bedding maker cut its second-quarter and full-year sales forecasts, citing a challenging environment.
Marketing initiatives have not paid off as expected, the company said in a transcript filed with the Securities and Exchange Commission.
Shares closed the regular session at $16.97.
