Stocks in Motion: Borders

Shares tank on reduced third- and fourth-quarter guidance.
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Updated from 3:01 p.m. EDT

Shares of

Jones Apparel

(JNY)

were among the

NYSE's

losers Wednesday after the company lowered its third- and fourth-quarter earnings guidance.

The clothing maker now expects third-quarter earnings of 75 cents to 77 cents a share, down from previous guidance of 80 cents to 84 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 85 cents a share. For the fourth quarter, the company now expects earnings of 40 cents to 45 cents a share, down from its previous forecast of 56 cents to 59 cents a share. Analysts had been expecting 60 cents a share. Jones blamed the shortfall on bad weather and a weak economic environment. Shares traded down $2.73, or 7.5%, to $33.57.

Action Performance

(ATN)

rose 3.8% after the maker of die-cast cars announced that it hired a new chief financial officer. David Riddiford will assume the new position beginning Nov. 1. Riddiford replaces David Martin, who resigned late last week. Riddiford most recently served as senior vice president and treasurer of

Dial

. Shares traded up 33 cents to $9.04.

Shares of

Borders Group

(BGP)

fell 9.4% after the company lowered its third-quarter earnings outlook and warned that fourth-quarter results would fall short of expectations. The bookseller now expects to post a loss of 1 cent to 3 cents a share, which is below its previous forecast of a profit of 1 cent to 3 cents a share. Analysts had been expecting earnings of 2 cents a share. For the fourth quarter, Borders expects earnings of $1.55 to $1.62 a share. Analysts are looking for earnings of $1.65. Borders blamed the shortfall on weaker-than-expected sales, which were affected by hurricanes. Shares of Borders traded down $2.29 to $22.11.

Accenture

(ACN) - Get Report

fell 10% after the company posted in-line fourth-quarter earnings but warned that first-quarter results would be below expectations. The consulting firm earned 30 cents a share during the fourth quarter on sales of $3.42 billion. Analysts were expecting earnings of 28 cents on sales of $3.48 billion. Looking ahead, the company expects first-quarter earnings of 28 cents to 31 cents a share on sales of $3.5 billion to $3.7 billion. Analysts had been expecting earnings of 32 cents on sales of $3.67 billion. Shares traded down $2.65 to $23.93.

Shares of

Itron

(ITRI) - Get Report

rose 16.4% after the company said it expects third-quarter earnings to beat expectations by about 20%. The maker of meter-reading systems said strength in its electricity metering operations led to the improved outlook. Analysts were expecting earnings of 23 cents a share, which would imply third-quarter earnings of 28 cents for Itron. Shares traded up $2.82 to $20.03.

NYSE volume leaders included

Lucent

(LU)

, up 4 cents to $3.42;

Pfizer

(PFE) - Get Report

, down 31 cents to $29.55;

Calpine

(CPN)

, down 18 cents to $2.33;

Merck

(MRK) - Get Report

, down 78 cents to $30.07;

Nokia

(NOK) - Get Report

, up 18 cents to $13.98; and

Texas Instruments

(TXN) - Get Report

, up 43 cents to $21.73.

Nasdaq

volume leaders included

Intel

(INTC) - Get Report

, up 71 cents to $20.99;

Sirius Satellite Radio

(SIRI) - Get Report

, down 1 cent to $3.74;

Cisco

(CSCO) - Get Report

, down 30 cents to $18.86;

Yahoo!

(YHOO)

, up 73 cents to $34.96;

Microsoft

(MSFT) - Get Report

, unchanged at $28.03; and

Applied Materials

(AMAT) - Get Report

, up 23 cents to $16.39.