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Updated from 11:21 a.m.

Shares of

American Woodmark

(AMWD) - Get American Woodmark Corporation Report

were among the

Nasdaq's

losers Wednesday, falling 9.9% after the company posted disappointing third-quarter earnings and said that fourth-quarter earnings would fall below expectations.

The cabinet maker earned $7.1 million, or 42 cents a share, on sales of $183.2 million. Analysts polled by Thomson First Call were expecting earnings of 54 cents a share on sales of $181.2 million. A year ago the company earned $7.7 million, or 46 cents a share, on sales of $162.9 million. Underutilized capacity on fixed and semi-fixed overhead costs and an increase in freight expenses hurt gross margins during the quarter, the company said. Looking ahead, American Woodmark expects fourth-quarter earnings of 53 cents to 59 cents a share on sales growth of 15% to 20%. Analysts had been expecting earnings of 69 cents a share on sales of $205.8 million, or sales growth of 14%. Shares traded down $4.05 to $36.70.

Big Lots

( BLI) rose 4.9% after the closeout retailer posted fourth-quarter earnings that beat expectations by 3 cents a share. The company earned $57.7 million, or 51 cents a share, on sales of $1.38 billion. Analysts were expecting earnings of 48 cents a share on sales of $1.39 billion. A year ago the company posted pro forma earnings of $82.6 million, or 70 cents a share, on sales of $1.33 billion. Looking ahead, Big Lots forecast first-quarter earnings of 4 cents to 7 cents a share. Analysts are expecting earnings of 6 cents a share.

Big Lots also said that it would restate its financial results for 2002, 2003 and 2004, which will correct accounting errors in the way it handled leasing transaction during those years. The restatement will result in an earnings reduction of less than $2 million, or 2 cents a share, a year for the three years. Shares traded up 55 cents to $11.85.

Shares of

Performance Food Group

(PFGC) - Get Performance Food Group Company Report

rose 8% after the company agreed to sell its Fresh Express line of packaged salads to

Chiquita Brands International

TheStreet Recommends

(CQB)

for $855 million in cash. The deal, which is expected to close during the second quarter, will allow Performance Food to pay down about $290 million in debt. The company said it would use the rest of the proceeds for share repurchases, cash dividends, or a combination of the two. Shares traded up $2 to $27.

Insurance Auto Auctions

( IAAI) rose 23.1% after the company agreed to be acquired by private equity firm

Kelso & Co.

for $385 million in cash. Insurance Auto shareholders will receive $28.25 a share, which represents a 26% premium to Tuesday's close of $22.41. The deal is expected to close during the second quarter of 2005. Shares traded up $5.17 to $27.58.

Shares of

Masco

(MAS) - Get Masco Corporation Report

fell 9.2% after the building products company posted solid fourth-quarter results but warned that first-quarter earnings would fall below expectations. Excluding items, the company earned $247 million, or 55 cents a share, on sales of $3.03 billion. Analysts were expecting earnings of 54 cents a share on sales of $3.02 billion. Looking ahead, Masco forecast first-quarter earnings of 44 cents to 47 cents a share, below analysts' expectations of 53 cents a share. The company's guidance, it said, reflects recent increases in commodity costs, which won't be offset by selling price increases until later in 2005. Shares traded down $3.36 to $33.07.

NYSE

volume leaders included

Pfizer

(PFE) - Get Pfizer Inc. Report

, down 28 cents to $26.31;

Lucent

( LU), unchanged at $3.19;

General Electric

(GE) - Get General Electric Company Report

, down 8 cents to $35.27;

Nortel

( NT), up 4 cents to $2.94;

ExxonMobil

(XOM) - Get Exxon Mobil Corporation Report

, up $1.17 to $59.42; and

Advanced Micro Devices

(AMD) - Get Advanced Micro Devices, Inc. Report

, down 40 cents to $16.60.

Nasdaq volume leaders included

Intel

(INTC) - Get Intel Corporation Report

, down 45 cents to $23.31;

Microsoft

(MSFT) - Get Microsoft Corporation Report

, down 3 cents to $25.20;

Cisco

(CSCO) - Get Cisco Systems, Inc. Report

, down 3 cents to $17.28;

Oracle

(ORCL) - Get Oracle Corporation Report

, up 29 cents to $12.95;

Sun Microsystems

(SUNW) - Get Sunworks, Inc. Report

, up 8 cents to $4.15; and

Ciena

(CIEN) - Get Ciena Corporation Report

, down 35 cents to $2.40.