Ducommun surges in unusual activity
Ducommun Inc. (NYSE: DCO) shares are soaring for no apparent reason, but the aerospace engineering company declined to comment on the unusual market activity. The stock exchange NYSE Euronext (NYSE: NYX) had asked the Los Angeles-based company to explain if corporate activities were behind the stock price movement.
On Tuesday morning, investment bank BB&T Capital Markets (NYSE: BBT) maintained its “buy” rating on Ducommun. BB&T said in a note to investors that the firm will see internal growth of 9% in 2008.
On Monday, Ducommun posted fourth-quarter profit of $5.4 million, or $0.51 per share, from $4.3 million, or $0.41 per share, a year earlier. Analysts expected earnings of $0.51 per share.
Quarterly revenue increased 6% to $93.5 million, from $87.8 million during the prior-year period. Wall Street analysts projected revenue of $92.1 million.
In Tuesday’s trading, DCO shares were up 22.53%, or $5.57, at $30.29. Over the last 52 weeks, shares have ranged from $23.19 to $42.70.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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