Stocks in Motion: Callaway

Updated from 1:43 p.m. EDT

Shares of Callaway Golf(ELY Quote) were among the NYSE's losers Wednesday after the company suspended its earnings guidance and warned that it would not meet third-quarter and full-year earnings and sales expectations.

The golf club maker said that it no longer expects to reach its previously announced guidance of third-quarter sales of $150 million to $160 million and a loss of between 37 cents and 42 cents a share. The company also said that it doesn't expect to post a full-year profit of 15 cents to 25 cents a share on sales of $975 million to $990 million. Callaway said it was suspending its guidance because of several unknowns, including re-order status for the remainder of the year and the timing of new product launches. "We are engaged in a full business review and based on our initial evaluation, we have concluded that guidance should be suspended," the company said.

Analysts polled by Thomson First Call were expecting a third-quarter loss of 37 cents a share on sales of $165.4 million. For the full year, they were expecting earnings of 43 cents a share on sales of $974.8 million. Shares of Callaway traded down $2, or 16.3%, to $10.30.

Coca-Cola(KO Quote) fell after it warned that third-quarter and second-half earnings results would not meet expectations. Excluding impairment charges, the beverage giant now expects to post a third-quarter profit of 46 cents to 48 cents a share. For the second half of the year, it expects to post a profit of 88 cents to 92 cents a share.

Analysts were expecting third-quarter earnings of 54 cents a share and second-half earnings of 99 cents a share. Coca-Cola said unfavorable volume trends in North America and Germany, plus unseasonably cool and rainy weather in its Northern European markets that resulted in volume declines, led to the shortfall. Shares of Coca-Cola traded down $1.71, or 4%, to $41.16.