Jones New York (JNY)
Jones New York decreased 23.41%, falling to $14.95 after the company reported lower-than-expected third quarter results. The Company reported adjusted earnings per share were $0.54, falling $0.07 cents below analysts’ estimates of $0.61, for the third quarter of 2010, compared to adjusted earnings per share of $0.46 in the same period last year.
Revenue increased 19.4% year over year to $1.2 billion, compared to $856 million for the third quarter of 2009, which was on par with analysts’ estimates.
Century Aluminum Company (NASDAQ: CENX)
Century Aluminum Company (NASDAQ: CENX) slipped 5.50% to $12.88 in the pre-market trading after the company reported third quarter losses of $16.8 million, or 18 cents a share, from a profit of $40.1 million, or 45 cents a share a year ago.
Sales grew to $279.2 million from $228.7 million, a year ago. Analysts had estimated profit of 8 cents a share on revenue of $269.47 million.
Management indicated that higher raw material costs, primarily for carbon anodes, much of which is transitional, led to a quarter over quarter decrease in net earnings of about $4 MM, or approximately $0.04 in EPS.
Owens Corning (NYSE: OC)
Owens Corning (NYSE: OC) is currently trading at 27.10, down nearly 4% from Tuesday’s closing price 28.20. Shares of Owens Corning are on the slide this morning after the company said it earned $58 million, or 46 cents per share, during the third quarter. Excluding one-time items, OC earned 35 cents per share on revenue of $1.19 billion. Analysts had forecast a profit of 37 cents per share on revenue of $1.26 billion.