Monday's Winners & Losers: Griffon

Updated from 1:02 p.m. EDT

Griffon(GFF Quote) was among the NYSE's losers Monday, tumbling 18.5% after the industrial goods company posted weak third-quarter earnings and said that its prospects for increasing shareholder value through strategic alternatives are not good.

The company earned $4.4 million, or 14 cents a share, on revenue of $398.7 million. Analysts polled by Thomson Financial had expected earnings of 23 cents a share. During the year-earlier period, the company earned $19.4 million, or 61 cents a share, on revenue of $429.1 million.

As for the company's efforts to increase shareholder value, the company, which hired Goldman Sachs to help it explore strategic alternatives, said that conditions in the housing and credit markets are hampering its ability to find attractive alternatives. Shares closed down $2.94 to $12.98.

Cooper Tire & Rubber(CTB Quote) jumped 5.1% after the tire maker posted better-than-expected second-quarter earnings and announced a debt repurchase plan. The company earned $17.6 million, or 28 cents a share, on revenue of $750.6 million. Analysts expected earnings of 20 cents a share. During the year-earlier quarter, the company posted a loss of $20.7 million, or 34 cents a share, on revenue of $624.8 million.

The company also announced that it would repurchase up to $200 million in publicly traded notes. The debt may be repurchased through a tender offer, through open market transactions, or a combination of both, the company said. Shares closed up $1.07 to $22.25.

Shares of ACCO Brands(ABD Quote) vaulted 16.9% after the maker of office supplies reported second-quarter earnings that beat Wall Street's forecast. The company posted adjusted earnings of $11.7 million, or 21 cents a share, on revenue of $464.9 million. Analysts expected earnings of 14 cents a share on revenue of $457 million. During the year-earlier quarter, the company posted adjusted earnings of $3.3 million, or 6 cents a share, on revenue of $462.6 million. Shares closed up $3.50 to $24.25.

Northwest Natural Gas(NWN Quote) rose 7.2% after the utility company posted second-quarter earnings that topped expectations. The company earned $2.6 million, or 10 cents a share, on revenue of $183.2 million. Analysts expected earnings of 8 cents a share on revenue of $161.8 million. During the year-earlier quarter, the company earned $2 million, or 7 cents a share, on revenue of $171 million.

Looking ahead, Northwest continues to see full-year earnings of $2.50 to $2.65 a share. Analysts project earnings of $2.59 a share. Shares closed up $3.02 to $45.24.

Shares of Zoltek(ZOLT Quote) slumped 5.7% after the carbon-fiber maker posted disappointing third-quarter results. The company earned $5 million, or 17 cents a share, on revenue of $40.3 million. Analysts expected earnings of 23 cents a share on revenue of $41.7 million. During the year-earlier quarter, the company reported a loss of $21.2 million, or 90 cents a share, on revenue of $26.8 million. Shares closed down $2.61 to $42.98.