Up and Down: Sallie Mae, Hanger, Micros Systems, MicroStrategy
Stocks rose last week, boosted by a better-than-forecast jobs report and news of a takeover of Wm. Wrigley Jr. Co. by Mars. The S&P 500 hit a five-month high.
*Shares of Sallie Mae (SLM) rose 22 percent last week, closing at $21.75. Shares of student lenders were boosted by Congress's passage of a bill last week that would lift limits on federally subsidized student loans. President Bush has signaled that he will sign the legislation. Shares of the Reston company rose 7.8 percent Thursday, the day the House passed the bill, and then 8.9 percent Friday, but they're still a ways off from their 52-week high of $58.
*TeleCommunication Systems (TSYS) reported Thursday that it had a record first-quarter profit, and Friday its shares jump 21.6 percent, to $4.40. That was pretty much the gain for the week; shares of the Annapolis firm didn't move more than 3 percent any other day.
*Also helped by its earnings report: Hanger Orthopedic (HGR) of Bethesda, which said Tuesday that first-quarter profit more than doubled and raised its 2008 profit guidance. Its shares gained 14 percent last week to close at $11.73.
*ManTech (MANT) is on our list of top one-year gainers, with shares up 58 percent in that time. The Fairfax tech company said Wednesday that first-quarter profit rose about 50 percent, to $19.9 million. It raised its 2008 guidance to $83.4 million to $87.2 million from the $82.7 million to $86.8 million it projected in February. Shares fell 2.6 percent last week, though, to close at $48.40. Government IT contractors are getting a boost from an expected increase in tech spending from the government in its next fiscal year.
*Shares of LandAmerica Financial (LFG) lost 22 percent last week, closing at $28.71 and taking the top spot on our list of one-week losers. The Richmond-based title insurer said Tuesday after the market closed that it swung to a first-quarter loss. Shares fell 19.7 percent on Wednesday. They've lost 43 percent in the past three months and 64 percent in the past year.
*Columbia-based Micros Systems (MCRS) reported its third-quarter earnings Wednesday. Profit grew 29.3 percent, to $25.1 million, but its forecast for fiscal 2008 was lower than analysts' predictions. It was the second-biggest one-week loser on our list, with shares falling 18 percent last week and closing at $29.51.
*MicroStrategy (MSTR) shares fell 16 percent last week, ending Friday at $73.41. The McLean company said after the market closed Thursday that first-quarter revenue was up, but profit fell about 15 percent. Its shares fell 18.7 percent on Friday.
*Vanda Pharmaceuticals (VNDA) has the second place on the list of one-year losers, with shares down 80 percent over that period, closing $4.21 on Friday. Shares did gain last week after the Rockville company reported first-quarter earnings and said it expects Food and Drug Administration action on its schizophrenia drug Fanapta in July.
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