Up and Down: Deltek, MCG, Intersections, Trex
Stocks overall had their first weekly drop in a month last week, with the S&P 500 dropping 1.8 percent, dragged down by fears of more losses from financial firms.
*The biggest loser of the week on our list was Deltek (PROJ), whose shares fell 38 percent to close the week at $8.34. The Herndon software company said Thursday after the market closed that profit fell 21 percent in the first quarter. Shares fell more than 33 percent on Friday. It also said Thursday that Mark Wabschall, most recently finance chief of WebMethods, is joining it as CFO. Two analysts on Friday dowgraded the firm from outperform to the equivalent of hold.
*Shares of FBR Capital Markets (FBCM) of Arlington fell 21 percent last week, closing at $5.09. They hit their 52-week low of $5.05 on Friday. Shares have fallen pretty steadily since the company reported a wider loss than expected on April 23.
*GeoEye (GEOY) also lost 21 percent last week, with shares closing at $18.93. The Dulles company said Friday that its first-quarter loss widened; shares fell 13.9 percent that day. Its chief competitor in the satellite business, DigitalGlobe, is preparing for an IPO. While GeoEye focuses mainly on the government, DigitalGlobe works with Google, Microsoft and Oracle.
*MCG Capital (MCGC) shares lost 18 percent last week, closing at $6.45. It's also the second-biggest loser in the past three months on our list, with shares down 45 percent in that period. Wednesday evening, the Arlington private-equity firm said profit fell 92 percent from the comparable period a year earlier. Shares fell 17.7 percent Thursday. The company sees problems in the market for collateralized loan obligations, or CLOs, leading it to debt capital with higher costs and less favorable terms.
*Intersections of Chantilly (INTX) got a boost from its earnings report; it said Wednesday that first-quarter profit grew from $484,000 to $3.4 million. Its shares gained 15 percent last week, closing at $9.95 on Friday. The seller of privacy-protection products and services said it added a net of about 300,000 subscribers in the quarter.
*Trex (TWP), the Winchester-based maker of composite decking, also reported earnings last week, and its shares also gained 15 percent. Its profit grew 139 percent, boosted by a tax benefit. It also increased revenue by 3 percent, despite the slowdown in home-building.
*Shares of TeleCommunication Systems (TSYS) of Annapolis gained 10 percent last week after gaining 21 percent the week before. They're up 37 percent in the past three months, closing Friday at $4.82. The provider of wireless data services on May 1 that profit grew about 618 percent, to $4.6 million, helped by growth in text messaging.
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