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1143 ET 11June2009-Wolverine World Wide jumps after upgrade
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Wolverine World Wide Inc (WWW.N) shares climbed on Thursday after CL King
upgraded the stock two notches to "strong buy" from "neutral" and introduced a
$26 price target.
The firm said the shoe maker is managing "as well as any" company during
the recession and could easily outperform its guidance and current expectations
should sales trends stabilize later this year.
Shares rose 11 percent to $23.52 while the Dow Jones U.S. Footwear index
.DJUSFT gained 1.5 percent.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1137 ET 11June2009-Citi Trends rises after JPMorgan upgrade
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Shares of Citi Trends (CTRN.O) rallied on Thursday, after JPMorgan upgraded
the stock to overweight from neutral, calling the apparel retailer among the
best square footage growth stories in retail.
The firm added that the store could potentially double its store-base, and
that it has an attractive store economic model.
For details, see [ID:nBNG1672]
Shares of Citi Trends rose 6.9 percent to $23.28.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1121 ET 11June2009 Evergreen Solar call options heat up
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U.S. panel maker Evergreen Solar Inc (ESLR.O) call options are shining as
its shares jumped 13 percent to $2.84 near midday near their 200-day moving
average of just above $3. The stock's option volume of about 20,000 contracts,
dominated by 18,000 calls, is eight times the normal combined turnover,
according to Trade Alert. Buyers this morning picked up the June, July and
September $5 calls, said WhatsTrading.com option strategist Frederic Ruffy.
"Like many solar names the stock has churned near the lows, but the surge in
oil and the drop in input costs have given some raised attention back to the
solar industry," said optionMonster.com co-founder Pete Najarian in comments on
the firm's Website. Now many including Evergreen, are jolted out of the tight
range to move up and test new levels, he said, also citing brisk activity in
the June $2.50, July $2.50, July $5 and September $5 calls.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1107 ET 11June2009-Spartech surges after earnings
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Spartech Corp (SEH.N) shares jumped on Thursday after the company reported
adjusted earnings that topped Wall Street estimates as cost reduction
activities offset a decline in sales volume.
The specialty chemical company reported adjusted earnings of 20 cents per
share, above the average estimate of analysts surveyed by Thomson Reuters of 4
cents a share.
For 2009, the company said that its operating plans assume recessionary
effects will continue, although volumes in many of its markets have started to
stabilize.
Shares surged more than 35 percent to $7.78 while rival PolyOne Corp
(POL.N) added 2.5 percent to $3.27.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
