Top Stock Earnings Surprises (DVN, RRD, WBC, SPW)

Devon Energy Corporation (NYSE:DVN)  rose marginally after it said Wednesday it swung to first-quarter net income of $1.19 billion, or $2.66 a share, from a loss of $3.96 billion, or $8.92 a share, in the year-ago period. Revenue rose to $3.2 billion, from $1.9 billion. Devon Energy's adjusted net income totaled $1.85 a share. Wall Street analysts expected earnings of $1.47 a share on revenue of $2.43 billion, according to a survey by FactSet Research. Devon said its board of directors authorized the repurchase of up to $3.5 billion of the company's common stock.

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R.R. Donnelley & Sons Company (NASDAQ:RRD) jumped over 4% to $21.87 after on Wednesday said first-quarter net income rose to $52.6 million, or 25 cents a share, from $13.9 million, or 7 cents a share, in the same period last year. Excluding restructuring, impairment and other charges, net income totaled $69.5 million, or 33 cents a share, the printing-services firm said. A survey of analysts by FactSet Research produced a consensus forecast of 29 cents. Net sales declined 1.6% in the first quarter to $2.4 billion.

WABCO Holdings Inc. (NYSE:WBC) soared 7.90% to $35.81 after on Wednesday reported net income of $30.7 million in the first quarter of 2010, or 48 cents a share, against a loss of $30 million in the year-ago period or 57 cents. Analysts surveyed by FactSet Research of $14.9 million. Sales for the group rose to $491.1 million, against $333.9 million in the year-ago period. The company said its operating margin was 8.8% against a negative 9% a year ago. The company raised guidance for full-year 2010 sales growth to range from 23% to 28% in local currencies, up from 15% to 20%. It raised guidance for full-year 2010 diluted earnings per share by 40 cents to now range from $1.40 to $1.80 on a performance basis.

SPX Corporation (NYSE:SPW) fell 2.10% to $66.63 after it  reported a first-quarter net profit of $22.1 million, or 44 cents a share, down from $24.4 million, or 48 cents, earned in the comparable year-earlier period. The Charlotte, N.C.-based specialized manufacturer's revenue fell to $1.09 billion in the three months ended Apr. 3, down from the prior year's $1.16 billion.

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