Today's Big Gainers: MTG, UTIW, PIR, PSS Thursday, December 3, 3:19 PM ET
Mortgage insurance provider MGIC Investment Corporation (NYSE:MTG) announced that the Office of the Commissioner of Insurance for the State of Wisconsin has approved a revised business plan and granted a regulatory capital waiver until December 31, 2011. MGIC said this marks an important step in enabling the company to support the US housing market by writing new insurance nationwide. MGIC shares surged more than 18% higher in trading on Thursday.
Shares of supply chain services and solutions company UTi Worldwide (UTIW) gained more than 15%, after the company reported results for its third quarter ended October 31. Revenues fell 20% year over year, and income from continuing operations fell to 18 cents per diluted share, down from 36 cents in the same quarter last year. But volumes showed an improvement sequentially, with airfreight volumes increasing in the month of October for the first time since early 2008.
Pier One Imports (PIR) announced comparable store sales for the third quarter ended November 28 surged 13.7%, helped by a very strong Thanksgiving weekend. Pier One's third quarter results conference call is scheduled for December 17th. On Thursday, shares of Pier 1 were trading more than 6% higher.
And shares of Collective Brands (PSS) advanced about 8 and a half percent, after the company reported results for its third quarter ended October 31. Earnings came in at 57 cents per share, but on an adjusted basis the company earned 61 cents. Comparable store sales were up 3.1% overall, with domestic comparable store sales at Payless up 5.4%, helped by back-to-school sales.
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