Exide Technologies Rises 8% On Earnings Beat (XIDE)

Shares of Exide Technologies XIDE are trading up 8.1% at $7.09 per share during the Friday morning trading session. The day's trading range for shares of Exide Technologies has been between $6.81 and $7.26 per share. Analysts covering the company's stock give it a consensus price target of $9.06 per share. Volume of 900,000 shares is already well above the daily average volume of 645,000 shares. Exide Technologies (XIDE) announced on Thursday after the market closed that it far exceeded consensus Wall Street expectations. Exide Technologies announced 2nd quarter adjusted earnings per share of 17 cents, on revenue of $668 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 2 cents per share, on revenue of $651.9 million. Jim Bolch, President and CEO OF Exide Technologies, said, "I am pleased to report improved gross profit, lower operating expenses and higher unit volumes in our second quarter results. We expect continued improvement in the second half of our fiscal year as global markets strengthen, reflecting increased demand in substantially all channels." Read more from Benzinga's Company news.