Stocks in Motion: Fred's

Shares of Fred's (FRED Quote) were among Nasdaq's best-performing stocks Tuesday, rising 9% after the general merchandise retailer posted third-quarter earnings that topped Wall Street's expectation.

For the quarter ended Oct. 29, Fred's earned $6.3 million, or 16 cents a share, down from $7.4 million, or 19 cents a share, a year earlier. Excluding an accounting adjustment in the most recent period, Fred's earned $7.7 million, or 19 cents a share. On this basis, earnings beat Thomson First Call's mean analyst estimate of 18 cents, and were in line with Fred's guidance of 19 cents to 22 cents. The company's sales grew to $376.8 million from $349.1 million a year earlier, while same-store sales declined 1%. Looking ahead, Fred's said it expects market and competitive conditions will continue to be "aggressive," but it anticipates meeting its plan for the fourth quarter and 2006. Fred's shares recently were up $1.35 to $16.43.

Sizeler Property (SIZ Quote) rose nearly 7% after the real estate investment trust announced the resignation of its chief executive and said it is exploring strategic options for its business. The company said Sidney Lassen has retired as chairman and chief executive to pursue personal interests, but will remain a member of Sizeler's board. The company named Mark Tanz nonexecutive chairman. ...