PowerSecure shares skyrocket on Southern Co. acquisition

PowerSecure International Inc. shares skyrocketed in the extended session Wednesday after Southern Co. announced it was acquiring the power-grid technology company for $431 million, or $18.75 a share. Shares of PowerSecure jumped 73% to $17.06 after hours. Southern Co. said it expects to close the deal by the end of the second quarter.

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Sturm Ruger shares rise after results top Wall Street estimates

Sturm Ruger & Co. shares rose in the extended session Wednesday after the gun maker topped Wall Street estimates for the quarter. Sturm Ruger shares advanced 5.9% to $68 after hours. The company reported fourth-quarter earnings of 88 cents a share on revenue of $152.4 million. Analysts surveyed by FactSet had forecast earnings of 75 cents a share on revenue of $137.1 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Sturm Ruger shares rise after results top Wall Street estimates

Sturm Ruger & Co. shares rose in the extended session Wednesday after the gun maker topped Wall Street estimates for the quarter. Sturm Ruger shares advanced 5.9% to $68 after hours. The company reported fourth-quarter earnings of 88 cents a share on revenue of $152.4 million. Analysts surveyed by FactSet had forecast earnings of 75 cents a share on revenue of $137.1 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Restoration Hardware shares sink in after-hours after fourth-quarter profit warning

Restoration Hardware Holdings Inc. shares dropped 15.8% in after-hours trading after the company said it would miss fourth-quarter estimates when it reports on March 24. The home design retailer expects net income of $33.8 million, or 80 cents per share, down from $42.5 million, or $1.02 per share, for the same period last year. Expected adjusted earnings are 99 cents, below the FactSet consensus of $1.39. The company expects revenue of $647.2 million, up from $583 million last year, but well below the $711 million FactSet consensus. Restoration Hardware says three factors impacted the quarterly results: shipping delays as some vendors struggle to produce items from the new RH Modern line; underperformance in markets like Canada, Texas and Miami that are impacted by energy, oil, or currency fluctuations; and additional promotional activity that didn’t drive the anticipated level of revenue, which the company said is “signaling further pullback by the high-end consumer.” Restoration Hardware shares are down 39.1% for the past 12 months while the S&P is down 8.8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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