Stocks in Motion: PC Mall

Updated from 11:42 a.m.

Shares of O'Charleys(CHUX Quote) were among the Nasdaq's losers Wednesday, falling 14.1% after the company posted mixed first-quarter results and warned that second-quarter earnings would fall short of expectations.

The restaurant operator posted earnings of $10.1 million, or 44 cents a share, on sales of $290.5 million. Analysts polled by Thomson First Call were expecting earnings of 43 cents a share on sales of $297.5 million. A year ago the company earned $7.6 million, or 33 cents a share, on sales of $267.7 million.

Looking ahead, O'Charleys forecast second-quarter earnings of 19 cents to 23 cents a share, which is below the 29 cents a share that analysts had been expecting. Improvements in food cost margin are expected to be offset by higher employee benefit costs, restaurant operating costs and preopening costs. The company also said that it is taking a cautious approach because of higher gasoline prices and rising interest rates, which, the company said, is "likely to create uncertainty in consumer spending patterns and may negatively impact customer spending in our restaurants." Shares traded down $2.85 to $17.40.

PC Mall(MALL Quote) fell 24.1% after the computer retailer swung to a first-quarter loss. The company reported a loss of $4.2 million, or 36 cents a share, on total sales of $293.7 million. Its core business, which excludes eCost.com and Onsale.com, posted a loss of 18 cents a share on sales of $236.9 million. Analysts were expecting a loss of just 2 cents a share on sales of $271.6 million. A year ago the company posted a pro forma profit of 4 cents a share in its core business on sales of $239.8 million. "The surge in sales that we expected at the end of the quarter failed to materialize despite aggressive pricing promotions intended to stimulate demand," the company said. Shares traded down $1.23 to $3.87.