Updated from 1:18 p.m. EDT

Shares of

Deckers Outdoor

(DECK) - Get Report

were among the

Nasdaq's

losers Thursday, falling 25.2% after the company posted first-quarter earnings that missed expectations and warned that second-quarter earnings would be well below forecasts.

The outdoor footwear company posted earnings of $8.9 million, or 69 cents a share, on sales of $64.3 million. Analysts surveyed by Thomson First Call were expecting earnings of 70 cents a share on sales of $63.4 million. An unanticipated increase in bad-debt expense shaved about 2 cents a share from first-quarter earnings, the company said. Looking ahead, Deckers expects second-quarter earnings of 28 cents to 30 cents a share on sales of $40 million to $41 million. Analysts had been expecting earnings of 43 cents a share on sales of $44.6 million. The company blamed the shortfall on unseasonable weather and lower international expectations. However, the company said that it would make up for the shortfall during the second half of the year as a result of better-than-expected fall bookings for its UGG products. As a result, the company said it remains comfortable with previously issued earnings guidance of $2.45 to $2.55 a share on sales of $250 million to $260 million. Shares traded down $8.59 to $25.57.

MBNA

( KRB) fell 16.6% after the company posted first-quarter earnings that missed expectations and warned that full-year earnings would fall short of the company's growth target. Excluding items, the credit card company posted earnings of $514.1 million, or 40 cents a share. Analysts were expecting earnings of 46 cents a share. Looking ahead, the company now believes that its 2005 earnings will be significantly below its 10% growth objective. Analysts are expecting 2005 earnings of $2.26 a share. A year ago the company posted earnings of $2.06 a share. Shares traded down $3.83 to $19.28.

Shares of

Whirlpool

(WHR) - Get Report

rose 8.7% after the home-appliance maker posted first-quarter earnings and sales that topped expectations. The company earned $86 million, or $1.26 a share, on sales of $3.21 billion. Analysts were expecting earnings of $1.11 a share on sales of $3.12 billion. Price increases helped offset higher raw material and oil-related costs during the quarter, the company said. A year ago the company earned $101 million, or $1.43 a share, on sales of $3.01 billion. Looking ahead, the company backed its 2005 earnings guidance of $5.90 to $6.10 a share. Analysts are expecting earnings of $5.83 a share. Shares traded up $5.36 to $67.

Cummins

(CMI) - Get Report

rose 8.7% after the engine maker posted first-quarter earnings and sales that blew past expectations and raised its full-year forecast. The company earned $97 million, or $1.96 a share, on sales of $2.21 billion. Analysts were expecting earnings of $1.57 a share on sales of $2.16 billion. A year ago the company earned $33 million, or 76 cents a share, on sales of $1.77 billion. Looking ahead, Cummins said that it would earn $2.25 to $2.35 a share during the second quarter. Analysts had been expecting earnings of $2.24 a share. For the full year, the company now expects earnings of $9 to $9.20 a share, up from previous guidance of $8 to $8.30 a share. Analysts had been expecting earnings of $8.34 a share. Sales, meanwhile, are now expected to grow by 10% to 12%, up from previous guidance of 7% to 8%. Analysts are expecting sales of $9.49 billion, or sales growth of 12%. Shares traded up $5.74 to $71.72.

Royal Caribbean

(RCL) - Get Report

rose 2.8% after the company posted first-quarter earnings that were ahead of expectations. The cruise company posted earnings of $135.3 million, or 63 cents a share, on sales of $1.17 billion. Analysts were expecting earnings of 55 cents a share on sales of $1.18 billion. A year ago the company earned $95.8 million, or 47 cents a share, on sales of $1.06 billion. Higher ticket prices, increases in capacity and occupancy, and higher onboard sales buoyed the company's first-quarter results. Looking ahead, Royal Caribbean said that second-quarter earnings would be between 55 cents and 60 cents a share, below analysts' expectations of 66 cents a share. The company put full-year earnings at $2.65 to $2.85 a share, in line with expectations. Shares traded up $1.16 to $43.21.

NYSE

volume leaders included

BearingPoint

(BE) - Get Report

, down $2.49 to $5.28;

Lucent Technologies

( LU), up 5 cents to $2.57;

Motorola

( MOT), up $1 to $15.93;

Nokia

(NOK) - Get Report

, up $1.01 to $16.35; and

Pfizer

(PFE) - Get Report

, up 49 cents to $27.25.

Nasdaq volume leaders included

Microsoft

(MSFT) - Get Report

, up 96 cents to $25.28;

Intel

(INTC) - Get Report

, up 70 cents to $23.36;

eBay

(EBAY) - Get Report

, down 3 cents to $33.08;

Cisco

(CSCO) - Get Report

, up 49 cents to $17.68;

Oracle

(ORCL) - Get Report

, up 39 cents to $12.17;

Sun Microsystems

(SUNW) - Get Report

, up 4 cents to $3.56;

Sirius Satellite Radio

(SIRI) - Get Report

, up 4 cents to $5.14;

Qualcomm

(QCOM) - Get Report

, up $1.50 to $34.71;

Applied Materials

(AMAT) - Get Report

, up 37 cents to $15.13;

Yahoo!

(YHOO)

, up $1.22 to $35.87; and

Apple Computer

(AAPL) - Get Report

, up $1.67 to $37.18.