Stocks in Motion: Callaway

Shares of Best Buy(BBY Quote) rose after the company posted second-quarter earnings and sales that were better than expected. Excluding items, the consumer electronics chain posted a profit of 53 cents a share on sales of $6.08 billion. Analysts were looking for earnings of 51 cents a share on sales of $6.06 billion. Looking ahead, Best Buy forecast third-quarter earnings of 41 cents to 47 cents a share. Analysts had been expecting earnings of 44 cents a share. For the full year, Best Buy expects to post a profit of $2.87 to $3 a share, which excludes the second-quarter charge of 7 cents. Analysts are expecting full-year earnings of $2.90 a share. Shares of Best Buy traded up $2.32, or 4.6%, to $52.61.

TXU(TXU Quote) rose after the company said it would buy some of its debt, and possibly repurchase some of its shares. The power company said that it would buy 11.4 million outstanding corporate units, up to 8.7 million Income PRIDES (synthetic securities consisting of a forward contract to purchase the issuer's underlying security and an interest bearing deposit), and any and all of its floating rate convertible senior notes due 2033. TXU also said that it "may" repurchase up to an additional 10 million shares of its common stock, subject to market conditions and other factors. Shares of TXU traded up $1, or 2.3%, to $44.68.

Shares of Gottschalks(GOT Quote) rose after the company outlined its future growth plan. The department store chain said it expects to post a 2005 profit of 65 cents to 70 cents a share and expects earnings growth of 50% through 2006. What's more, total sales are expected to grow by more than 3% annually as a result of the company's plan to open two new stores a year during 2005 and 2006. In August, the company said it expects to earn 41 cents to 43 cents a share during 2004. Shares of Gottschalks traded up $1.08, or 22.4%, to $5.90.

NYSE volume leaders included Lucent(LU Quote), down 9 cents to $3.32; Nortel Networks(NT Quote), down 22 cents to $3.80; EMC(EMC Quote), down 37 cents to $10.75; Pfizer(PFE Quote), down 27 cents to $31.85; and Texas Instruments(TXN Quote), down 54 cents to $21.85.

Nasdaq volume leaders included Oracle(ORCL Quote), up 78 cents to $11.33; Cisco(CSCO Quote), down 79 cents to $19.56; Intel(INTC Quote), down 35 cents to $20.42; Microsoft (MSFT Quote), down 25 cents to $27.19; and Sirius Satellite Radio(SIRI Quote), down 1 cent to $2.89.