Buckeye Technologies Jumps 8.50% (BKI, TWX, RAH, BODY, SCVL)
Buckeye Technologies Inc (NYSE:BKI) plunged 8.52% to $26.62 on a traded volume of 695k shares. The Company said that Buckeye’s Florida wood cellulose fibers facility in Florida, experienced a significant failure of a steam drum on the number 2 paper machine causing damage to multiple drums and structural damage to the paper machine building and structure.
Time Warner Inc (NYSE:TWX) surged up 1.81% to $37.07 on a traded volume of 2.04 million shares. The Company will report its second quarter 2012 results on August 1, 2012.
Time Inc intends to cut editorial jobs at Sports Illustrated through voluntary buyouts and may eliminate some positions if not enough people take an exit package. Time Inc also publisher of Time, People, Entertainment Weekly and InStyle has struggled to offset shrinking print revenue with Internet advertising. The Publishing accounts for 9% of parent company Time Warner Inc.
Ralcorp Holdings Inc (NYSE:RAH) increased 1.45% to $65.28. The Company has completed the acquisition of Gelit S.r.l. Gelit S.r.l. is a producer of private-brand, frozen ready meals in Italy. The terms of the transaction were not disclosed. Gelit has more than 130 full-time employees and will operate as part of Ralcorp’s American Italian Pasta Company division.
Body Central Corp (NASDAQ:BODY) one of the top losers, declined 47.15% to $8.45.The stock opened at $10.30. The Company projects to earn 19-21 cents per share on revenue of $77 million to $79 million for the second quarter. The comparable sales are expected to decrease in a range of 7 to 9%. However, analysts are expecting the Company to report 27 cents per share.
Shoe Carnival Inc (NASDAQ:SCVL) declined 1.11% to $20.55. The Board of Directors approved the payment of a quarterly cash dividend to shareholders. The initial quarterly cash dividend of $0.05 per share will be paid on July 16, 2012 to shareholders.