Why Rogers Stock Soared on Friday
Shares of Rogers (NYSE: ROG) are soaring on Friday thanks to an analyst-stumping earnings report. The stock traded 19.1% higher at 11:50 a.m., EDT, having peaked at 21.4% earlier in the morning.
The Arizona-based maker of engineered materials saw third-quarter revenue fall 9% year over year to $202 million. Adjusted earnings dropped from $1.51 to $1.45 per share. Your average Wall Street analyst would have settled for earnings near $1 per share on sales in the neighborhood of $184 million. The company also said that fourth-quarter earnings should land between $1.30 and $1.50 per share. Here, analysts had been expecting $1.02 per share.
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Source Fool.com
