Stocks in Motion: Callaway

Updated from 1:43 p.m. EDT

Shares of Callaway Golf(ELY Quote) were among the NYSE's losers Wednesday after the company suspended its earnings guidance and warned that it would not meet third-quarter and full-year earnings and sales expectations.

The golf club maker said that it no longer expects to reach its previously announced guidance of third-quarter sales of $150 million to $160 million and a loss of between 37 cents and 42 cents a share. The company also said that it doesn't expect to post a full-year profit of 15 cents to 25 cents a share on sales of $975 million to $990 million. Callaway said it was suspending its guidance because of several unknowns, including re-order status for the remainder of the year and the timing of new product launches. "We are engaged in a full business review and based on our initial evaluation, we have concluded that guidance should be suspended," the company said.

Analysts polled by Thomson First Call were expecting a third-quarter loss of 37 cents a share on sales of $165.4 million. For the full year, they were expecting earnings of 43 cents a share on sales of $974.8 million. Shares of Callaway traded down $2, or 16.3%, to $10.30. ...