Stocks in Motion: Sirva

Updated from 11:51 a.m. EST

Shares of Sirva(SIR Quote) were big NYSE losers Monday, falling 38.5% after the relocation services company warned that its fourth-quarter earnings would miss estimates because of accounting issues in its insurance and European operations.

The company now expects to post a loss of 16 cents to 20 cents a share. Previously, it expected earnings of 15 cents to 17 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 16 cents a share. A review of its accounting practices and significant balance sheet accounts turned up pretax charges of $21 million to $25 million, or 18 cents to 22 cents a share. "The review was undertaken in connection with implementing procedures to comply with section 404 of the Sarbanes-Oxley Act, the disappointing performance of the company's insurance and European businesses in the third quarter of 2004, and as part of its year-end closing process," the company said. The news comes just a week after the company announced the resignation of Joan Ryan, its CFO. Shares traded down $5.54 to $8.86.

Mattel(MAT Quote) rose 6% after the company posted fourth-quarter earnings that came in ahead of expectations. Excluding a one-time tax gain, the toymaker earned 52 cents a share on sales of $1.85 billion. Analysts were expecting earnings of 48 cents a share on sales of $1.76 billion. The company's results, which were helped by a 30% sales jump in the entertainment division, were good enough to beat expectations despite what it called a "challenging retail environment." Shares traded up $1.10 to $19.45. ...