Stocks in Motion: Vail Resorts

Shares of PW Eagle(PWEI Quote) were among the Nasdaq's losers Wednesday, falling 8% after the maker of PVC pipe products priced a stock offering at a significant discount to its Tuesday closing price.

The company agreed to sell 1 million shares to 10 institutional investors for $18.75 apiece, representing a 22% discount to Tuesday's closing price of $24.05. PW Eagle, which expects to receive proceeds of about $17.5 million from the sale, plans to use proceeds from the offering to deleverage its balance sheet. The company also, as part of the stock sale, issued warrants to buy an additional 300,000 shares. The warrants are exercisable at $27 a share until 2010.

As a result of the increase in shares, PW Eagle now sees fourth-quarter earnings of at least $3.55 a share. The company continues to expect full-year earnings of at least $4.50 a share. Shares were trading down $1.87 to $22.18.

Vail Resorts(MTN Quote) rose 2% after the resort operator posted better-than-expected first-quarter results. The company reported a loss of $34.3 million, or 93 cents a share, on sales of $85.4 million. Excluding stock-based compensation costs, the company posted a loss of $33.3 million, or 90 cents a share. Analysts polled by Thomson First Call expected a bigger loss of 95 cents a share, with sales of $84.1 million. Last year, Vail Resorts reported a first-quarter loss of $31.5 million, or 89 cents a share, on sales of $97.9 million. Shares were up 91 cents to $38.17.

Shares of Panera Bread(PNRA Quote) increased 2% after the company posted solid November sales and lifted its full-year earnings forecast by a penny. The bakery operator posted a systemwide same-store sales gain of 7.7% for the four weeks ended Nov. 29. Same-store sales rose 7.7% at franchised bakery stores and 7.5% at company-owned stores. For the eight weeks ended Nov. 29, Panera posted a systemwide same-store sales gain of 7.9%, ahead of the company's targeted growth rate of 6.8% to 7.1%. The company now sees full-year earnings of $1.63 to $1.64 a share, up from its previous view of $1.62 to $1.63 a share. Analysts predict earnings of $1.63 a share. Panera shares were trading up $1.49 to $69.26.