Tuesday's Winners & Losers: Expedia

Updated from 12:01 p.m.

Expedia(EXPE Quote) was among the Nasdaq's winners Tuesday, vaulting 14.3% after the travel Web site announced a $3.5 billion stock buyback program.

The company said it plans to buy up to 116.7 million shares of stock at prices ranging from $27.50 to $30 a share. The buyback represents about 42% of the company's outstanding shares. "With this action, we couldn't be clearer that the management and the board of this company are confident in the value of Expedia and in its long-term future," the company said. The tender offer is expected to begin during the week of June 25. Shares closed up $3.64 to $29.14.

FactSet Research Systems(FDS Quote) rose 6.6% after the data provider posted better-than-expected third-quarter results. The company earned $28.6 million, or 56 cents a share, on revenue of $121.1 million. Excluding a one-time gain, the company earned 52 cents a share. Analysts polled by Thomson Financial expected earnings of 51 cents a share on revenue of $120.1 million. During the year-earlier period, the company earned $21 million, or 41 cents a share, on revenue of $98.8 million.

Looking ahead, FactSet sees fourth-quarter revenue of $126 million to $130 million. Analysts project revenue of $125 million. Shares closed up $4.22 to $68.09.

Shares of Leggett & Platt(LEG Quote) fell 6.3% after the office furniture and fixtures company slashed its second-quarter earnings and revenue guidance. The company now sees earnings from continuing operations of 29 cents to 34 cents a share, down from an earlier forecast of 37 cents to 42 cents a share. The company now sees revenue of $1.3 billion, down from a previous forecast of $1.38 billion. "Several of our markets have weakened considerably in the past 8 weeks, resulting in a broad-based revenue shortfall," the company said. "Given the limited visibility into our markets, we cannot forecast a robust second half of the year. We simply do not see a major catalyst that will appreciably increase demand."

For the full year, the company now sees earnings from continuing operations of $1.28 to $1.48 a share, down from an earlier forecast of $1.48 to $1.68 a share. The company now sees revenue of $5.2 billion, down from its earlier forecast of $5.4 billion. Analysts project earnings of $1.58 a share on revenue of $5.4 billion. Shares were down $1.49 to $22.08.