Shares of Winnebago Industries Inc. (NYSE:WGO) shifted into a higher gear after the maker of recreational vehicles posted third-quarter results early Wednesday that handily beat Wall Street estimates. Earnings of US$1.02 per share on revenue of US$562.3mln beat consensus earnings estimate of US$0.91 per share on revenue of US$542.4mln.
“Winnebago Industries delivered strong top and bottom-line growth, margin expansion and market share gains in the quarter. New product performance, our evolving portfolio mix, and agility in managing cost all contributed nicely to our third quarter results,” said CEO Michael Happe.
Shares were up 9.3% to US$44.10 in trading after the opening bell.
Actuant Corp. (NYSE:ATU) shares traded higher after the broadly diversified Milwaukee-based company posted earnings of US$0.39 per share on revenue of US$317.1mln. The consensus earnings estimate was for US$0.36 per share on revenue of US$305.9mln. Revenue grew 7.3% on a year-over-year basis.
Shares of Actuant Corp added 5.2% to US$27.30.
La-Z-Boy Inc. (NYSE:LZB) were down after fourth-quarter earnings topped expectations but missed on revenue. The iconic furniture maker reported earnings of US$0.66 per share on revenue of US$420mln. The consensus earnings estimate was US$0.64 per share on revenue of US$426.8mln.
The stock reclined 4.2% to US$31.85.
READ: Anika Therapeutics’ CIGNAL fails late-stage knee osteoarthritis study, shares punished
Shares of Anika Therapeutics Inc. (NASDAQ:ANIK) lost a third of their value after a Phase 3 clinical trial, 16-02, evaluating CINGAL for the treatment of knee osteoarthritis failed to achieve the primary endpoint. CEO Joseph Darling said the orthopedic and regenerative medicines company remains committed to gaining US approval for the indication.
Anika shares plunged 32.5% to US$31.15 in the initial minutes of trade.