Shares Of CPI Corporation Jumping On Strong Results (CPY)

Shares of CPI Corporation CPY are sharply higher this afternoon, after the photography services company reported earnings this morning. The company reported a loss of 25 cents per share this quarter, compared with a loss of 49 cents a year ago. It reported revenues of $76.4 million, versus $81.4 in revenue a year ago in the same quarter. In addition to this, the company announced a share repurchase plan of 1 million shares. Shares are currently significantly higher, gaining $2.77 to trade at $21.50.