This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks in Motion: Sirva

Updated from 11:51 a.m. EST

Shares of Sirva (SIR - Get Report) were big NYSE losers Monday, falling 38.5% after the relocation services company warned that its fourth-quarter earnings would miss estimates because of accounting issues in its insurance and European operations.

The company now expects to post a loss of 16 cents to 20 cents a share. Previously, it expected earnings of 15 cents to 17 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 16 cents a share. A review of its accounting practices and significant balance sheet accounts turned up pretax charges of $21 million to $25 million, or 18 cents to 22 cents a share. "The review was undertaken in connection with implementing procedures to comply with section 404 of the Sarbanes-Oxley Act, the disappointing performance of the company's insurance and European businesses in the third quarter of 2004, and as part of its year-end closing process," the company said. The news comes just a week after the company announced the resignation of Joan Ryan, its CFO. Shares traded down $5.54 to $8.86.

Mattel (MAT - Get Report) rose 6% after the company posted fourth-quarter earnings that came in ahead of expectations. Excluding a one-time tax gain, the toymaker earned 52 cents a share on sales of $1.85 billion. Analysts were expecting earnings of 48 cents a share on sales of $1.76 billion. The company's results, which were helped by a 30% sales jump in the entertainment division, were good enough to beat expectations despite what it called a "challenging retail environment." Shares traded up $1.10 to $19.45.

Shares of Sealed Air (SEE - Get Report) rose 8.8% after the packaging maker posted fourth-quarter earnings that were ahead of expectations. Excluding items, the company earned 81 cents a share on sales of $1.02 billion. Analysts were expecting earnings of 67 cents a share on sales of $978.2 million. Looking ahead, the company expects 2005 earnings of $2.95 to $3.05, which includes 11 cents to 12 cents a share in charges related to contingent convertible debt. Analysts had been expecting earnings of $2.95 a share. Shares traded up $4.15 to $51.30.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AVL $0.30 0.00%
GE $26.80 0.00%
MAT $30.20 0.00%
SEE $44.74 0.00%
SIR $23.60 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs