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Shares of Coinstar jumped 29.5 percent Friday, after the company reported third-quarter results above analysts’ expectations.
The Bellevue company also provided a rosy fourth-quarter revenue projection and disclosed a pilot program to put its coin-counting machines in 100 Wal-Mart Stores locations.
Coinstar’s stock rose $5.68 to $24.91 Friday.
On Thursday, after the market closed, Coinstar reported a third-quarter profit of $6.8 million, up 3 percent.
However, analysts said the biggest news was the deal with Wal-Mart. While the agreement doesn’t represent a firm, long-term commitment, if successful it could represent “the tip of the iceberg,” Banc of America analyst Eric Brown wrote in a note.Unova
Deal announced on selling Landis
Unova in Everett is selling its Landis Grinding Systems group to a French company for more than $80 million, the company announced Friday.
Unova, which is also in the process of changing its name to Intermec, expects to close the deal by year-end.
Groupe Fives-Lille, based in Montreuil-sous-Bois, is paying $70 million in cash and a $10 million two-year note, and assuming pension- and retirement-benefit obligations.
Landis is headquartered in Waynesboro, Pa., and has facilities in Illinois, Georgia, Ohio and Kentucky.
Launches delayed over strike threat
The threat of a strike against Boeing by Florida and California employees will delay the launches of a pair of NASA science satellites, a weather reconnaissance spacecraft and a classified payload for the military, officials said Friday.
The International Association of Machinists and Aerospace Workers, which represents 960 Boeing employees in Florida and California, has told the company it plans to call a strike as early as Wednesday over a wage dispute.
The union rejected the company’s latest offer for a new three-year agreement, a Boeing spokeswoman said.
Compiled from Dow Jones/The Associated Press, Seattle Times staff and Reuters