Monday's Winners & Losers: Standard Pacific

The homebuilder says that weak second-quarter orders will likely lead it to reduce its full-year guidance.
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Shares of

Standard Pacific

(SPF)

were among the

NYSE's

losers Monday, falling 6% after the homebuilder said that lower order levels during the first two months of its second quarter would likely lead it to reduce its earnings and delivery guidance for the full year.

The company said that net new home orders for the first two months of the second quarter fell 41% from a year ago. Standard Pacific said the year-over-year decline was "driven in large part by an increase in the company's cancellation rate and continued softening demand in many of the company's larger markets."

Gross orders fell 22% from a year ago, the company said. As a result, the builder expects that it will offer a reduced 2006 earnings and delivery outlook when it reports second-quarter earnings at the end of July. Analysts polled by Thomson First Call project full-year earnings of $6.32 a share. Shares were trading down $1.82 to $28.18.

Another homebuilder,

Technical Olympic USA

(TOA)

, fell 4% after the company said its second-quarter orders would be down 25% to 40% from a year ago. "The company's combined net sales orders are being negatively impacted by decreased demand from the record levels of 2005, a more competitive sales environment, and higher cancellation rates," the company said. Technical Olympic said it expects these conditions to affect most of its markets through at least the remainder of 2006, it said. Shares were trading down 71 cents to $17.38.

Marvel Enterprises

(MVL)

rose 1% after the entertainment licensing company said it completed its $100 million stock buyback program and initiated a new $100 million buyback plan. "Given our continued confidence in Marvel's ability to generate strong levels of free cash flow as well as the modest capital needs of our unique business model, the board continues to believe that share repurchases are an excellent use of capital that should enhance shareholder value over the long term," the company said.

Under the new buyback plan, Marvel is authorized to buy shares through May 31, 2007. Marvel plans to fund the buyback with working capital or from borrowings. Shares were up 25 cents to $19.55.

Shares of

Hovnanian Enterprises

(HOV) - Get Report

fell 4% after the homebuilder filed a shelf registration statement to sell up to $250 million in senior notes due 2017. The company, which detailed its plans in a filing with the

Securities and Exchange Commission

Monday, said that it will use proceeds from the offering to repay amounts outstanding on its revolving credit facility. Shares were down $1.42 to $30.94.

Freeport-McMoRan

(FCX) - Get Report

fell 3% after the mining company lowered its second-quarter copper sales guidance. The company now expects copper sales of 235 million pounds, down from an earlier view of 280 million pounds. "The shortfall for copper reflects operational effects associated with mining a relatively small section of ore in the '6 North' pushback with abnormally high clay content, which has adversely affected ore flow, mill recoveries and concentrate grades," Freeport-McMoRan said. The company continues to expect gold sales of 275,000 ounces. Shares were trading down $1.91 to $54.83.

NYSE volume leaders included

Advanced Micro Devices

(AMD) - Get Report

, down 82 cents to $29.28;

Lucent Technologies

(LU)

, down 1 cent to $2.54;

Ford

(F) - Get Report

, down 8 cents to $7.02;

Texas Instruments

(TXN) - Get Report

, up 14 cents to $32.27;

Micron

(MU) - Get Report

, up 9 cents to $16.55;

Pfizer

(PFE) - Get Report

, down 4 cents to $24.15;

Exxon Mobil

(XOM) - Get Report

, down 19 cents to $61.46;

Time Warner

(TWX)

, up 9 cents to $17.67; and

Motorola

(MOT)

, down 30 cents to $21.46.

Nasdaq

volume leaders included

Microsoft

(MSFT) - Get Report

, down 13 cents to $22.63;

Sirius Satellite Radio

(SIRI) - Get Report

, down 7 cents to $4.34;

Intel

(INTC) - Get Report

, down 14 cents to $18.09;

Cisco Systems

(CSCO) - Get Report

, down 14 cents to $20.30; and

Apple Computer

(AAPL) - Get Report

, down 80 cents to $60.86.