Investor's Business Daily, April 26th, 2007
The New York composite fell 0.3% Thursday, while the S&P 500 dipped 0.1%. But the Dow picked up 0.1%. NYSE volume edged higher.
Real estate portfolio manager Cohen & Steers CNS vaulted 7.20 to 52.16 in strong trading. The huge gain took the stock past a 52.93 buy point 14d nearly single-handedly built the right side of the cup base. A recovery straight up from the bottom of the base can be a warning sign, however.
The company reported 52 cents a share in its Q1. That's 136% more than a year ago and 13 cents more than estimates. Sales growth also beat views. These were the best results in years.
Rock-Tenn RKT broke out of an eight-week pattern as it soared 4.92 to 40.76 on more than four times its usual volume.
Late Wednesday, the maker of paperboard packaging reported quarterly earnings that beat Wall Street's views. Rock-Tenn said it was able to pass on higher costs to its customers.
Rock-Tenn has lodged solid earnings the past five quarters, ending a long stretch of squiffy numbers. But sales growth has slowed.
On the downside, Brush Engineered Materials BW, which had been on a tear since a gap-up gain in mid-February, crashed 10.79 to 50.95 in eight times its average volume. The bleeding was stanched by a test of its 10-week moving average.
Brush netted 62 cents a share in Q1, 8 cents shy of views. Worse, it cut its full-year outlook to 75-90 cents a share, down from $1.
Brush provides some of the specialty metals and elements used in making next-generation hard drives, which can more than double the data stored on traditional hard disks.
