Gifts Under $30 Gifts Under $50 iPhone Emergency SOS Saves Man MyHeritage 'Time Machine' Guardians of the Galaxy 3 Trailer White Bald Eagle Indiana Jones 5 Trailer Black Hole's 1,000 Trillion Suns
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

Wallace Computer Services heats up

Shares of Wallace Computer Services (NYSE: WCS) moved up 1 1/2, or 6 percent, to 25 1/4 Thursday, one day after meeting analysts' estimates in its third quarter. Jefferies & Co. rewarded it by upgrading the stock from an "accumulate" rating to "buy."

In the quarter, Wallace earned $20.5 million, or 49 cents a share, on sales of $384.7 million.

First Call consensus expected the maker of office-related hardware and software products to earn 49 cents a share in the quarter.

In the year-ago quarter, it made $18.1 million, or 42 cents a share, on sales of $375.6 million.

Company officials said it will report earnings of 43 cents to 48 cents a share in the fourth quarter and between $1.77 a share to $1.82 a share in the fiscal year, both well within most analysts' estimates.

The stock surged to a high of 27 1/4 in January after falling to a low of 15 7/16 in September.

Both analysts following the stock rate it either a "buy" or "strong buy.">