(NYSE: LEN) announced slightly wider fourth quarter loss of $125.2 million, or 76 cents a share, compared to a loss of $120.9 million, or 76 cents a share, in the year earlier quarter. Revenue plunged to $891.9 million from $1.13 billion. Shares soared $1.37 or 17.52% to $9.19.

ConAgra Foods (NYSE: CAG) said that its fiscal fourth-quarter profit tumbled 13% to $174.7 million, or 39 cents a share, from $201.3 million, or 41 cents per share, in the year-ago quarter. Revenue increased 8 percent to $3.3 billion. ConAgra Foods lost 85 cents or 4.24% to close at $19.18.

Bed Bath & Beyond (NYSE: BBBY) soared $1.08 or 3.28% to $34.05. The home furnishing retailer reported Wednesday that its quarterly profit rose 14% to $87.2 million, or 34 cents a share, from $76.8 million, or 30 cents a share, in the year ago period. Revenue rose 2.8 percent, to $1.69 billion from $1.65 billion.

Shares of The Home Depot Co. (NYSE: HD) leaped 89 cents or 3.92% to $23.57.

On the economic front, a release by Commerce Department showed that U.S. economy shrank 5.5% pace in the first quarter, compared to preliminary estimate of 5.7%.

According to Department of Labor, number of Americans filing first- time claims for unemployment benefits climbed 15,000 to 627,00 in the week ending June 20. Economists expected jobless claims to drop to 600,000. The four-week average of seasonally adjusted initial jobless claims, a less volatile gauge, increased 7,000 to 612,250.  Continuing claims for the week ending June 13 rose 29,000 to 6.7 million.


European stocks settled lower. The UK FTSE fell 27.41 points or 0.64% to 4,253.57. The German DAX and French CAC decreased 0.73% and 0.68% respectively.

Asian stocks finished higher. The Nikkei 225 jumped 40.71 points or 0.43% to end at 9,590.32. The Hang Seng index of Hong Kong surged 382.88 points or 2.14% to 18,275.03.

NYMEX crude oil for July delivery climbed $1.56 or 2.3% to settle at $70.23 a barrel.
 
Disclosure: Author does not own any of the stocks discussed here.