Updated from 11:495 a.m. EDT
( HLYW) were among the
losers Friday after the company said it believes
a planned merger with a buyout firm will not be consummated.
Leonard Green & Partners notified the company that, "due to industry and market conditions," it does not believe it will be able to procure the financing that's required to complete the transaction. Still, Hollywood Entertainment did say that even if a merger is completed with the buyout firm, there is no assurance that it would be consummated under the original terms. In March, the buyout firm agreed to acquire the company for about $890 million, or $14 a share. Shares of Hollywood Entertainment traded down $2.98, or 23.3%, to $9.81.
( ESPD) fell after it posted in-line second-quarter earnings but warned that third-quarter results would fall short of expectations. The electronic bond broker posted second-quarter earnings of 16 cents a share on sales of $42.8 million. Analysts surveyed by
Thomson First Call had expected it to earn 16 cents a share on sales of $42.2 million. Looking ahead, eSpeed forecast third-quarter earnings of 9 cents to 10 cents a share. Analysts were expecting 18 cents a share. For the full year it now expects earnings of 53 cents to 55 cents a share on sales of at least $163 million. Analysts were expecting 69 cents a share on sales of $172.4 million. Shares of eSpeed traded down 58 cents, or 5.6%, to $9.73.
fell after it disclosed that its
Dallas Morning News
unit overstated its circulation figures. Belo will now report a greater-than-expected decline in its September circulation numbers. An ongoing internal investigation turned up "practices and procedures" that led to inflated circulation results. Belo expects the revised circulation numbers to result in a 1.5% decline in its daily circulation and a 5% decline in its Sunday circulation. Belo also announced the resignation of the executive vice president who was in charge of the circulation department. In response to Belo's circulation disclosure, a slew of analysts downgraded the stock Friday. Shares of Belo traded down $1.66, or 7.2%, to $21.55.
fell after it reported a significant drop in earnings and sales. Excluding items, the auto parts company posted a profit of 7 cents a share on sales of $45.1 million. A year ago it earned 74 cents a share on sales of $62.1 million. The company said its results suffered from lower sales in its Tecstar operations, which were hurt by the "overall decline in the automotive industry." Looking ahead, it expects to post earnings of 30 cents to 32 cents a share for the full year on sales of $168 million to $170 million. Shares of Starcraft traded down $2.12, or 18.4%, to $9.40.
BioMed Realty Trust
rose on its first day of trading. The real estate investment trust sold 27 million shares at $15 apiece, raising about $400 million. Raymond James & Associates led the underwriting syndicate. Shares of BioMed Realty Trust traded up 90 cents, or 6%, to $15.90.
volume leaders included
( LU), down 5 cents to $2.96;
, down 70 cents to $31.52;
, down 69 cents to $33.21;
, down 47 cents to $31.18; and
( NT), down 2 cents to $3.59.
Nasdaq volume leaders included
, down 39 cents to $27.14;
, down 68 cents to $19.93;
, down 90 cents to $22.77;
, down $5.13 to $9.43; and
, down 45 cents to $10.19.