Updated from 11:28 a.m. EST
were among the
losers Monday, falling 6.3% after the consumer electronics maker swung to a fourth-quarter loss and posted a significant sales decline.
The company posted a loss of $2.3 million, or 10 cents a share, on sales of $149.5 million. The one analyst providing a forecast to Thomson First Call was expecting earnings of 8 cents a share on sales of $155 million. A year ago the company earned $5.7 million, or 26 cents a share, on sales of $190.3 million. Audiovox said that competitive pressures and price erosion in two of its businesses -- mobile video and portable DVD players -- hurt results. Looking ahead, the company forecast first-quarter sales of $118 million to $122 million. The one analyst estimate called for sales of $144.7 million. During last year's first quarter, the company posted sales of $136.6 million. Shares traded down $1.01 to $15.12.
fell 5.5% after the company announced the resignation of its CEO and said that it has fired two more employees in connection with an ongoing internal probe into its accounting. George Harad will replace Christopher Milliken, who took over the CEO position less than four months ago. Harad will serve on an interim basis until the company finds a permanent replacement.
OfficeMax said that it has confirmed that some of its employees fabricated supporting documents for about $3.3 million in claims billed to a vendor to its retail businesses. It said income during the first quarter was overstated, while income during the second and third quarters was understated. Shares traded down $1.73 to $30.02.
Despite posting fourth-quarter results that were better than expected, shares of
fell Monday. On an adjusted basis, the company earned $3.09 a share on sales of $779.6 million. Analysts were expecting earnings of $2.66 a share on sales of $670.6 million. Looking ahead, Ipsco forecast adjusted first-quarter earnings of $3.14 a share. Analysts had been expecting earnings of $2.82 a share. Shares traded down 85 cents to $47.95.
rose 6.8% after the pork producer said that third-quarter earnings would easily surpass analysts' expectations. The company expects earnings of 86 cents to 87 cents a share. Analysts had been expecting earnings of 61 cents a share. A year ago the company earned 38 cents a share. Smithfield attributed the solid results to continued success of its vertical integration strategy. Smithfield expects to post third-quarter earnings on March 1. Shares traded up $2.09 to $33.
Beacon Roofing Supply
rose 2.7% after the company posted first-quarter earnings and sales ahead of expectations. The roofing materials company earned $8.7 million, or 32 cents a share, on sales of $199.2 million. First-quarter earnings included a $900,000 charge for the early retirement of debt. Analysts were expecting earnings of 30 cents a share on sales of $184.1 million. Shares traded up 52 cents to $19.96.
volume leaders included
( LU), up 5 cents to $3.41;
( FON), down 19 cents to $23.12;
, up 33 cents to $25.48;
down 53 cents to $20.77; and
, down 17 cents to $3.98.
Nasdaq volume leaders included
, up 55 cents to $4.95;
, up 27 cents to $17.97;
, up 4 cents to $26.01;
, up 14 cents to $24.31;
( MCIP), down 82 cents to $19.93; and
, up $5.59 to $192.99.