were among the
losers Tuesday, falling 22% after the company cut its second-quarter outlook.
The wireless-equipment maker now expects to post a pro forma loss of 4 cents to 6 cents a share on sales of $46 million to $47 million. Including items, the company expects to post a loss of 6 cents to 8 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 3 cents a share on sales of $56.4 million. Previously, the company said that it would report pro forma earnings of 2 cents to 5 cents a share on sales of $53 million to $58 million. Including charges, the company expected to post break-even earnings to 3 cents a share. Alvarion blamed the lowered guidance on purchase delays and slower-than-expected installations.
Shares of Alvarion were recently trading down $2.56 to $8.90.
Bausch & Lomb
rose 7% after the company agreed to acquire a 70% stake in China-based
Shandong Chia Tai Freda Pharmaceutical Group
for a total of almost $255 million. Bausch & Lomb bought a 55% stake from
for $200 million. Bausch said the acquisition would accelerate its expansion into the ophthalmic pharmaceuticals market in China. The transaction is expected to be neutral to 2005 earnings, add 5 cents to 10 cents a share in 2006, and add 10 cents to 15 cents a share during 2007. In addition to the first acquisition, Bausch said that has agreed in principle to acquire an additional 15% interest in Shandong from two additional entities for $54.5 million. Shares were trading up $5.40 to $87.18.
fell 2% after the media company cut its 2005 outlook. The company, which owns 10 television stations, now expects station operating performance of $40 million to $42 million, down from previous guidance of $47 million to $50 million. Sales, meanwhile, are now expected to be between $200 million and $204 million, down from earlier guidance of $205 million to $209 million. "This revision to the 2005 outlook comes despite strong local sales resulting from the new business initiatives at our stations," Young Broadcasting said. "This local sales growth has been offset by continued weakness in the San Francisco market and in our national sales across the country." Shares were trading down 8 cents to $4.17.
fell 6% after the company said that unionized workers at its Zaldivar copper mine in Chile have commenced a strike action. Management and union officials have been negotiating, but no agreement has been reached yet, Placer Dome said. Though the company anticipated the potential for a work stoppage -- and established contingency plans to lessen the impact of the strike -- the effect of the strike on total production can't be determined at this point, it said. The mine was expected to produce about 330 million pounds of copper cathode from its heap leach SX-EW operations during 2005. Shares were trading down 87 cents to $14.52.
Ryan's Restaurant Group
fell modestly after the company reported its June same-store sales. Same-store sales fell 4.3% in June and 4% during the second quarter. During June the company posted sales of $66.7 million, and during the quarter it posted sales of $215.5 million. Ryan's expects to post second-quarter earnings on July 20. Shares were trading down 2 cents to $13.94.
volume leaders included
, down 21 cents to $25.56;
, up 5 cents to $2.99;
Bank of America
, down 14 cents to $44.84;
, down 1 cent to $27.09;
, down 9 cents to $34.65; and
, up $1.36 to $49.64.
Nasdaq volume leaders included
, up 17 cents to $24.88;
, down 16 cents to $13.13;
, up 45 cents to $26.66;
, down 2 cents to $18.97; and
Sirius Satellite Radio
, up 4 cents to $6.59.