Market Updates
U.S. Movers: DryShips, Landec, Sprint, Urban Outfitters
Mukesh Buch
02 Jan, 2014
New York City
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DryShips dropped 8% after the ocean freight shipping company plans to raise $200 million in a stock offering. Landec lowered its second-quarter earnings guidance. Sprint fall and Urban Outfitters rise on analysts
[R]11:15 AM New York – DryShips dropped 8% after the ocean freight shipping company plans to raise $200 million in a stock offering. Landec lowered its second-quarter earnings guidance. Sprint fall and Urban Outfitters rise on analysts’ comments.[/R]
DryShips Inc ((DRYS)) plunged 8.3% or 39 cents to $4.30 after the ocean transportation service provider will restart sales of shares under its $200 million market issuance program through Evercore Group L.L.C.
Landec Corporation ((LNDC)) dropped 2.2% or 27 cents to $11.85 after the polymer products maker lowered its second-quarter earnings guidance to 13 cents per share and revenue of $124.2 million. For the fiscal year, the company expects to meet or exceed its original revenue growth guidance of 6%.
Resources Connection, Inc ((RECN)) slumped 2.6% or 38 cents to $13.95 after the professional service provider estimated to report second-quarter earnings of 15 cents per share and revenue of $138.5 million.
Sprint Corporation ((S)) declined 3.2% or 35 cents to $10.40 after the Cowen & Company downgraded the ratings of the third largest mobile carrier in the U.S.
Urban Outfitters, Inc ((URBN)) climbed 3.4% or $1.24 to $38.34 after the stock was upgraded by an analyst.
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