Updated from 11:04 a.m. EDT
( PRVD) were among the
losers Friday, falling 31.3% after the company posted weak third-quarter results and warned that fourth-quarter results would disappoint investors.
The e-commerce marketplace operator posted pro forma earnings of $4.4 million, or 32 cents a share, on sales of $57.2 million. Analysts polled by Thomson First Call were expecting earnings of 34 cents a share on sales of $57.7 million. A year ago the company earned $2.8 million, or 20 cents a share, on sales of $40.7 million. Provide said that its latest earnings were hurt by increased promotional offers, which squeezed margins, and by higher costs associated with Web site improvements.
Looking ahead, Provide forecast fourth-quarter earnings of $4.2 million to $4.5 million, or 30 cents to 32 cents a share, on sales of $59.5 million to $62 million. Both forecasts are below analysts' expectations, which call for earnings of 40 cents a share and sales of $62.3 million. Provide blamed the weak guidance on higher oil prices and fuel surcharges that are expected to cut into profits during the fourth quarter; it also anticipates a more competitive online advertising environment. Shares traded down $8.03 to $17.65.
rose 13.6% after the maker of raw materials reported blowout first-quarter earnings and sales and said second-quarter earnings would top forecasts as well. Excluding items, the company earned $1.92 a share on sales of $1.76 billion. Analysts were expecting earnings of $1.24 a share on sales of $1.71 billion.
A year ago the company earned 52 cents a share on sales of $1.6 billion. Eastman said the year-over-year gains were attributed to higher selling prices throughout the company, higher sales volume, and better capacity utilization and cost-reduction efforts. Looking ahead, Eastman said it expects second-quarter earnings to match first-quarter results. Analysts had been expecting earnings of $1.37 a share. Shares traded up $6.46 to $54.
rose 4.3% after the company posted first-quarter earnings and sales that surpassed expectations. The company earned $65.5 million, or 43 cents a share, on sales of $677.2 million. Analysts were expecting earnings of 38 cents a share on sales of $667.2 million. A year ago the company earned $56.9 million, or 36 cents a share, on sales of $637.3 million.
Separately, Republic announced a $500 million stock-repurchase plan, which, at current prices, represents about 10% of Republic's outstanding shares. The company said it would fund the buyback using excess cash from its balance sheet, cash flow from operations and proceeds from borrowings -- if necessary. As a result of the buyback, Republic upped its 2005 earnings guidance to $1.67 to $1.72 a share from $1.65 to $1.70 a share. Analysts are expecting earnings of $1.69 a share on sales of $2.84 billion. Shares traded up $1.42 to $34.60.
rose 5.3% after the homebuilder posted first-quarter earnings that easily beat expectations. The company earned $82.1 million, or $2.36 a share, on sales of $836.3 million. Analysts were expecting earnings of $1.92 a share on sales of $805.1 million. Looking ahead, Standard Pacific forecast second-quarter earnings of $2.65 a share on sales of $895 million. Analysts had been expecting earnings of $2.35 a share on sales of $876.3 million. For the full year, the company raised its guidance to $11.20 a share from previous guidance of $10.50 a share. Standard Pacific attributed the better outlook to strength in its California, Florida and Arizona housing operations. Shares traded up $3.61 to $71.61.
rose 1.4% after the oil and gas exploration company posted better-than-expected first-quarter earnings. Anadarko earned $490 million, or $2.05 a share, on sales of $1.53 billion. Analysts were expecting earnings of $1.99 a share on sales of $1.46 billion. A year ago the company earned $392 million, or $1.55 a share, on sales of $1.46 billion. Shares traded up 97 cents to $73.04.
Archer Daniels Midland
fell 16.8% after first-quarter earnings disappointed Wall Street. For the quarter ended last month, profit rose to $269.1 million, or 41 cents per share, from $226.8 million, or 35 cents per share, a year earlier. But excluding a latest-quarter gain, ADM made 30 cents a share -- a dime short of the First Call estimate. Revenue dropped 9% from a year ago to $8.5 billion. Shares traded down $3.64 to $17.99.
volume leaders included
( LU), down 1 cent to $2.43;
, up 82 cents to $5.51;
, up $1.03 to $57.03;
, down 5 cents to $16.81;
, up 53 cents to $36.20;
( NT), down 1 cent to $2.49; and
, up 48 cents to $27.17.
Nasdaq volume leaders included
, up 18 cents to $3.62;
, up 85 cents to $25.30;
, up 33 cents to $23.52;
( SEBL), up 41 cents to $9;
, up 13 cents to $17.27;
Sirius Satellite Radio
, up 3 cents to $4.76;
, down 6 cents to $11.56.