Stocks in Motion: Michaels

Shares of the crafts chain rise on a raised first-quarter outlook.
By Mark Martinez ,

Updated from 11:13 a.m.

Shares of

Mobile Mini

(MINI) - Get Report

were among the

Nasdaq's

winners Wednesday, rising 12.4% after the company raised its first-quarter earnings outlook.

The provider of portable storage containers now expects earnings of at least 41 cents a share, up from previous guidance of 32 cents to 35 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 33 cents a share. The company also revised its earnings before interest, taxes, depreciation, and amortization, saying that it now expects it to be at least $19 million, up from previous guidance of $16 million to $17 million. Higher units on rent and better utilization rates led to the upbeat outlook. For the full year, Mobile Mini now expects 2005 earnings of $1.78 to $1.82 a share, up from previous guidance of $1.70 to $1.75 a share. Analysts had been expecting 2005 earnings of $1.73 a share. Shares traded up $4.46 to $40.45.

Tetra Tech

(TTEK) - Get Report

, a provider of consulting, engineering and technical services, fell 16.9% after the company warned that it would post a second-quarter loss of more than $50 million. Tetra Tech said the loss is concentrated in a few business units performing construction-related activities. The company also said that the goodwill of its infrastructure segment might be impaired, which could lead to a noncash impairment charge during the second quarter. The charge, if taken, would be in addition to the operating loss Tetra Tech expects. Analysts are expecting second-quarter earnings of 16 cents a share on sales of $242.8 million. Shares traded down $2.53 to $12.46.

Shares of

Michaels Stores

(MIK) - Get Report

rose 3.5% after the arts and crafts retailer raised its first-quarter earnings and sales outlook. The company now expects earnings of 27 cents to 29 cents a share, up from previous guidance of 26 cents to 27 cents a share. Analysts are expecting earnings of 27 cents a share. Same-store sales are now expected to grow by 5% to 7%, up from an earlier forecast of 3% to 5%. Strong customer traffic and an increase in transactions led to the improved outlook. Shares traded up $1.23 to $36.

U.S. Xpress Enterprises

( XPRSA) fell 17.2% after the trucking company forecast a first-quarter loss. The company expects a loss of 11 cents to 14 cents a share on sales of about $270 million. Analysts are expecting earnings of 10 cents a share on sales of $274.2 million. A year ago, the company earned 6 cents a share on sales of $234.6 million. A bigger-than-expected seasonal freight downturn, higher operating costs -- including record fuel prices -- and difficulty in attracting drivers impacted first-quarter results. Shares traded down $3.36 to $16.14.

Shares of

Zoltek

(ZOLT)

rose 13.2% after the company announced a supply agreement with Spain-based

Fiberblade

, a unit of

Gamesa Eolica

. Under the agreement, Zoltek expects to provide Fiberblade with $65 million to $75 million in carbon fiber and carbon fiber materials during the first three years of the contract. The carbon fiber will be used for the building of large-scale rotor blades for wind turbine generators. Shares traded up $1.42 to $12.20.

NYSE

volume leaders included

Hewlett-Packard

(HPQ) - Get Report

, up 22 cents to $22;

Lucent Technologies

( LU), up 7 cents to $2.79;

Exxon Mobil

(XOM) - Get Report

, up 97 cents to $59.24;

American International Group

(AIG) - Get Report

, down $1.04 to $57.16;

Pfizer

(PFE) - Get Report

, up 65 cents to $26.29;

General Electric

(GE) - Get Report

, up 67 cents to $36.20;

Nortel

( NT), up 7 cents to $2.82;

Morgan Stanley

( MWD), up $1.67 to $55.28; and

EMC

(EMC)

, up 41 cents to $12.39.

Nasdaq volume leaders included

Intel

(INTC) - Get Report

, up 34 cents to $23.49;

Microsoft

(MSFT) - Get Report

, up 24 cents to $24.16;

Sirius Satellite Radio

(SIRI) - Get Report

, up 29 cents to $5.67;

Cisco Systems

(CSCO) - Get Report

, up 28 cents to $18.03;

Oracle

(ORCL) - Get Report

, up 20 cents to $12.48; and

Applied Materials

(AMAT) - Get Report

, up 33 cents to $16.64.

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