Updated from 11:29 a.m.

Central Freight Lines

(CENF)

fell 1.6% Friday after the company warned that third-quarter results would fall well short of expectations.

The trucking company now expects a third-quarter loss of 40 cents to 45 cents a share on sales of $95.5 million. Analysts polled by Thomson First Call had expected a loss of 16 cents a share on sales of $107.1 million. The company cited rising costs of claims relating to worker's compensation, cargo and accident liability, as well as an increase in general operating expenses. Shares traded down 10 cents to $6.

Shares of

Palm Harbor Homes

(PHHM)

fell 4% after the company warned that it would report a second-quarter loss. The maker of manufactured homes now expects to lose 8 cents to 10 cents a share, citing weak retail demand in Texas and North Carolina. Analysts had expected Palm Harbor to earn 6 cents a share. Separately, the company announced that its chairman would take a leave of absence until 2005. Lee Posey, the company said, is taking leave for health reasons. Shares traded down 69 cents to $16.83.

Georgia Gulf

(GGC)

rose 4.1% after the company raised its third-quarter earnings estimate above Wall Street expectations. The chemical manufacturer expects earnings of 85 cents to 90 cents a share. Analysts had expected earnings of 84 cents a share. The company cited improvement in its aromatics business. Shares traded up $1.59 to $39.95.

Shares of

JLG Industries

(JLG)

rose 13% after the company posted fourth-quarter earnings that beat expectations. Excluding an acquisition, the maker of access equipment earned 35 cents a share on sales of $345 million. Analysts were expecting earnings of 33 cents a share. Looking ahead, JLG expects to post a 10% to 25% sales improvement vs. 2004 levels. On that basis, JLG expects 2005 sales of $1.31 billion to $1.49 billion. Analysts are expecting sales of $1.37 billion. Shares traded up $1.87 to $16.25.

Precision Castparts

(PCP)

rose 2% after the company said that it would sell its pump and valve businesses. Precision also announced that it would meet or exceed second-quarter and full-year earnings projections. Switzerland-based Sulzer Pumps will buy the pump business for $36 million in cash. The valve business is actively being shopped around and will remain as a discontinued business until a deal is consummated.

Looking ahead, the maker of aerospace engine components said that even without the benefit of the pump and valve businesses, it would meet or beat second-quarter earnings estimates of 81 cents a share. It also said that it would exceed $3.35 a share in earnings for the full year. Analysts are expecting second-quarter earnings of 81 cents a share and full-year earnings of $3.34 a share. Shares traded up $1.16 to $59.92.

NYSE

volume leaders included

Lucent

(LU)

, down 7 cents to $3.18;

Pfizer

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, down 27 cents to $29.66;

Fannie Mae

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, down $1.64 to $65.51;

Calpine

(CPN)

, down 15 cents to $3.28; and

Nortel Networks

(NT)

, down 10 cents to $3.41.

Nasdaq

volume leaders included

Cisco

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, down 50 cents to $18.40;

Intel

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, down 25 cents to $20.13;

Microsoft

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, down 6 cents to $27.29;

Sun Microsystems

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, down 9 cents to $4.13; and

Applied Materials

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, down 51 cents to $16.65.