Stocks in Motion: Flowers Foods

For 2006, Flowers expects earnings of $68.6 million to $74 million, or $1.10 to $1.19 a share, shy of analysts' estimate of $1.21 a share. The company predicts sales of $1.83 billion to $1.85 billion, compared with Wall Street's projection of $1.83 billion. Shares were trading down $1.69 to $26.56.

Shares of Spectrum Brands(SPC Quote) fell 9% after the company posted mixed fourth-quarter results and forecast first-quarter earnings that are below expectations. The consumer products company, formerly known as Rayovac, posted pro forma earnings, which excludes items, of $6.6 million, or 13 cents a share, matching analysts' mean estimates. The company reported sales of $603.7 million, below analysts' projection of $626.5 million. During last year's fourth quarter, the company reported pro forma earnings of $21.2 million, or 60 cents a share, on sales of $377 million. Spectrum said that fourth-quarter results were hurt by declines in battery sales in North America and Europe, as well as increased raw material, fuel and transportation costs.

Spectrum sees first-quarter pro forma earnings of 20 cents to 25 cents a share, well below the 44 cents a share that analysts expected. For all of fiscal 2006, the company forecast earnings of $2.10 to $2.20 a share on sales of about $2.8 billion. Analysts projected earnings of $2.41 a share and sales of $2.84 billion. The weak outlook reflects "modest net sales growth as a result of a stagnant West European economy and moderate consumer spending growth," the company said. Spectrum also said it would be hurt by continued margin pressure from the increased materials, energy and transportations costs. Shares tumbled $1.83 to $18.45.

Gold Banc(GLDB Quote) climbed 18% after the financial holding company agreed to be acquired by Marshall & Ilsley(MI Quote) for about $700 million, or $18.50 a share, in cash and stock. The deal, which consists of $2.78 a share in cash and $15.72 a share in stock, represents a 23% premium over Gold Banc's Wednesday closing price of $15. The acquisition is expected to be slightly dilutive to M&I's 2006 earnings and accretive to earnings beginning in 2007. The deal is expected to close during the second quarter. Gold Banc shares were trading up $2.74 to $17.74. Marshall & Ilsley shares fell 76 cents, or 1.8%, to $41.94.