Stocks In News (EXM, STLD, SOL)
Excel Maritime Carriers Ltd (NYSE: EXM) increased 9.23% to $2.13 in the morning session after the company reported better that estimated fourth-quarter revenue.
The company reported a net loss of $167.8 million or $1.95 a share, reversing a year ago profit of $63.6 million or $0.76 a share. The company’s voyage revenues were $81.9 million for the 2011 fourth quarter, nearly 23.5% lower than last year’s $107.0 million. Analysts expected the company to report loss per share of $0.24 on revenues of $74.37 million for the quarter.
Steel Dynamics, Inc. (NASDAQ: STLD) gained 1.48% to $14.94 in the morning hour after the company reported that t expects first quarter of 2012 earnings to be in the range of $0.15 to $0.20 per diluted share. Analysts were expecting the company to report EPS of $0.36 for the first quarter of 2012.
Additionally, the company’s board of directors has declared a quarterly cash dividend of $0.10 per common share, payable to shareholders of record at the close of business on March 31.
ReneSola Ltd. (ADR) (NYSE: SOL) surged 15.45% to $2.84 on 2.78 million shares after the company reported unaudited financial results for the fourth quarter and full year ended December 31, 2011.
The company posted fourth quarter net loss of $36.7 million, or $0.21 a share, as compared to a profit of $61 million, or $0.34 a share, a year ago. Revenues plunged to $187.7 million, as against $386.4 million a year ago. Analysts estimated a loss of $0.24 per share on revenue of $146.68 million.
Looking ahead, the company expects first-quarter revenues to be in between $180 million and $190 million. Analysts anticipate revenues of $155.2 million.