EmailThe industrials sector is trading +1.2% versus the S&P 500 +0.8%.
In earnings: QTWW +26.8% (Quantum Fuel reports Q1 EPS of ($0.02) vs. ($0.74) last yr; rev +245% year/year to $8.2 million (no estimates).
In broker news: WLT +2.6% (Walter Energy: Brean Murray notes the CEO departure does not change their longer-term positive view of the co's high-quality met coal assets), PPO +2.5% (Polypore Intl initiated with a Buy at Capstone; tgt $80).
CREE +1.5% (Cree: Canaccord Genuity expects a difficult quarter/miss from Cree on margin headwinds, Q4 may mark the bottom for the company following GE announcement), ABCO -0.6% (Advisory Board downgraded to Hold from Buy at Deutsche Bank), ZINC -3.1% (Horsehead Holding: Recent industry data points, including results and commentary from steel galvanizer AZZ, point to an improving market for Horsehead - Canaccord Genuity), XRTX -8.3% (Xyratex: Q2 slight miss but within guide range; outlook for continued weakness on pending HDD M&A, but NSS demand appears strong -- Needham).
In sector news: OSK +12.5% (Oshkosh Truck: Icahn reports a 9.51% stake in the co).
ABFS +3.0% (Arkansas Best's FleetNet America names Gary W. Cummings President and CEO; effective June 30, 2011), WLT +2.6% (Walter Energy CEO resigns effective July 31 to pursue other interests; Board member Joseph Leonard appointed as Interim CEO), ETN +2.3% (Eaton agrees to acquire German filtration systems provider E. Begerow GmbH & Co KG), GE +1.2% (General Electric receives $414.6 mln contract - Dept. of Defense), GD +0.9% (General Dynamics receives $60 contract - Dept. of Defense).
KBR +0.7% (KBR Inc. awarded three-year contract by BP Amoco Chemical (BP) to execute maintenance and small capital construction projects), BA +0.5% (Hawaiian Airlines announced that it has leased three additional Boeing (BA) 717-200 aircraft in response to increasing consumer demand), WFR -0.9% (MEMC Elec announces termination of Suntech Power (STP) Wafer supply agreement).
