Furon Stock Gains 14% After Earnings Report
<i> Bloomberg News</i>
Furon Co.’s stock gained 14% Wednesday, a day after the Laguna Niguel company posted fourth-quarter earnings that exceeded analysts’ estimates.
The shares closed at $13.38, up $1.63, on the New York Stock Exchange on volume of 157,100 shares, about six times above average. At one point in the session, the stock traded as high as $14 a share.
Furon, which makes health-care and industrial products from high-performance polymers, said Tuesday that it earned 40 cents a share in the fourth quarter ended Jan. 30, up from 32 cents a share in the fourth quarter a year earlier. Analysts had estimated earnings of 33 cents a share for the most recent quarter, according to a First Call survey.
