Friday's Winners & Losers: Coldwater Creek

Shares of Coldwater Creek(CWTR Quote) were among the Nasdaq's losers Friday, sinking 15% after the apparel retailer slashed its fourth-quarter earnings projection.

The company now sees earnings of 16 cents to 17 cents a share, down from its prior guidance of 26 cents to 27 cents a share. Analysts polled by Thomson First Call project earnings of 28 cents a share.

"Although the strength of our first three quarters is still expected to deliver record performance in terms of full-year 2006 net sales and earnings, customer traffic was slower-than-expected across the country throughout the holiday season, which had a substantial negative impact on our fourth-quarter results," the retailer said. Shares were trading at $20, down $3.61.

Shares of Textron (TXT Quote) fell 3% after the industrial manufacturer disclosed a management shake-up at its Bell Helicopter unit amid cost overruns. Bell President and CEO Michael Redenbaugh resigned and will be replaced by Richard Millman, who had been president of Textron Systems. The move came as the company said it has incurred additional costs for its Bell Helicopter H-1 program.

Despite the costs, Textron said fourth-quarter earnings from continuing operations should top its original forecast of $1.35 to $1.45 a share due to a strong performance at its Cessna, Textron Systems and Textron Financial divisions. Shares of Textron were off $2.96 to $94.94.