Stocks in Motion: Thor Industries

Shares of B/E Aerospace(BEAV Quote) were among Nasdaq's losers Monday, falling 8% after the maker of aircraft cabin components issued a financial forecast below analysts' estimates and said it would sell about 13 million shares of stock.

The company expects 2005 earnings, before tax items, of 50 cents a share, with sales in excess of $800 million. Analysts polled by Thomson First Call predict earnings of 53 cents a share on sales of $839 million. Including a deferred tax asset gain, B/E sees 2005 earnings of $1.35 a share. For 2006, the company now expects to earn $1.11 a share, before items, on sales of $1 billion. Previously, the company said that it would earn $1.10 a share. Analysts, meanwhile, had projected 2006 earnings of $1.12 a share on sales of about $1 billion.

B/E plans to use proceeds from its stock sale to redeem $250 million in senior subordinated notes due in 2008. The offering is being done as part of an effective shelf registration. Shares were trading down $1.56 to $16.98.

Thor Industries(THO Quote) rose 8% after the company posted first-quarter results that topped Wall Street forecasts. The recreational vehicle maker earned $43.4 million, or 76 cents a share, on sales of $761.3 million. Analysts were expecting earnings of 72 cents a share and sales of $734.2 million for the quarter ended Oct. 31. The results were up from last year's first quarter, when Thor earned $35.1 million, or 61 cents a share, on sales of $632.7 million. Shares recently gained $2.77 to $38.46.

Shares of Platinum Underwriters(PTP Quote) fell 3% after the reinsurance company said it plans to sell $220 million in stock. The company is selling $100 million in stock, while RenaissanceRe Holdings (RNR Quote) is offering its entire Platinum stake for about $120 million. Platinum, in addition to selling stock, also is selling about $150 million in convertible preferred shares. The company plans to use proceeds from the offerings to contribute to the capital and surplus of its reinsurance operating subsidiaries and for general corporate purposes. Platinum shares were trading down 83 cents to $29.62. RenaissanceRe shares fell 1.7% to $45.58.