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DAYTON, Ohio - Fluid processing products maker Robbins & Myers Inc. on Monday boosted its fiscal-year profit forecast after posting fiscal third-quarter results that beat Wall Street predictions.
The news sent Robbins & Myers shares up $7.26, or 17.7 percent, to $48.34 in morning trading. Earlier in the session, the stock peaked at a new 52-week high of $48.71, topping a previous high of $44.37.
Robbins & Myers said it expects to earn $2.26 to $2.31 per share for the year, up from its previous guidance of $1.93 to $2.03 per share.
The outlook includes a gain of 16 cents per share related to asset sales during the first nine months of the year.
Analysts polled by Thomson Financial expect a profit of $2.05 per share for the year.
Robbins & Myers also issued fiscal fourth-quarter profit guidance of 62 cents to 67 cents per share. Analysts, on average, expect a profit of 60 cents per share.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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