News / Business
Top Morning Volume Stock Buzzers (TLB, Petrohawk, FAST)
Morning Volume Stock Buzzers
The Talbots, Inc. (NYSE:TLB) rose 8% to its 52-week high of $15.54 after it said that it swung to a fourth-quarter profit of $4.09 million, or 7 cents a share, from a loss of $361.5 million, or $6.75, a year earlier. Profit excluding merger costs and restructuring charges would have been 13 cents a share, the company said. Sales from continuing operations fell 3.7% to $315.9 million. Sales at stores open at least a year dropped 7.2%. Analysts, on average, estimated the retailer would have earned 2 cents a share on sales of $314.4 million, according to FactSet.
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Petrohawk Energy Corporation (NYSE:HK) climbed 3.76% to $23.46 after it said it's selling a 50% stake in its Haynesville Shale gathering and treating business for $875 million in cash to Kinder Morgan Energy Partners (KMP 67.00, -0.23, -0.34%) . The new venture, KinderHawk Field Services, is expected to have an enterprise value of up to $1.75 billion at inception, making it one of the largest gathering and treating systems in the U.S. Kinder Morgan said the deal will increase cash available to unitholders beginning in 2011 and significantly increase them thereafter.
Fastenal Company (NASDAQ:FAST) rose 4.43% to $54.20 after it said its first-quarter earnings rose 15% to $56 million, or 38 cents a share, from $48.7 million, or 33 cents a share, in the year-ago period. The
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