Stockwatch August 2007 - Wall Street Maintains Upbeat Momentum
The PCI Suppliers’ Index
strode confidently ahead, adding 70.01 points,
or 6.15 percent to end at 1208.44. Germany’s Altana Group, parent of BYK, filed
an application with the Securities and Exchange Commission and was delisted
from the New York Exchange as of May 21, 2007. Altana was removed from the
index. Of the 35 companies now tracked in the index, advancing issues
handily outweighed declining issues by a 4-to-1 margin.
Shares of FMC jumped 12.46 points, or 16.20 percent for the session after the
company reported first quarter income of $45.8 million, or $1.17 per share,
compared to net income of $37.7 million, or $0.95 per share earned in last
year’s first quarter. “With our strong first quarter performance, we have
raised our full-year 2007 outlook for earnings before restructuring and other
income and charges to $6.00 to $6.20 per
diluted share,” said William Walter, FMC CEO, president and chairman. “For the
year, we anticipate stronger growth in agricultural products and specialty
chemicals than previously expected, while our outlook for industrial chemicals
is unchanged.” FMC closed at 89.39, and was the top dollar gainer.