Stocks in Motion: Deckers

Shares tank on lowered second-quarter guidance.
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Updated from 1:50 p.m. EDT

Shares of

Deckers Outdoor

(DECK) - Get Report

were among the

Nasdaq's

losers Friday, falling 7.3% after the company cut its second-quarter guidance.

The outdoor footwear company now expects earnings of 15 cents to 18 cents a share on sales of $38 million to $39 million. Previously, the company said it would earn between 28 cents and 30 cents a share on sales of $40 million to $41 million. Analysts polled by Thomson First Call had been expecting earnings of 29 cents a share on sales of $40.5 million.

Deckers blamed the lower outlook on unseasonably cold weather, which hurt sales of its Teva sandal line. "With the approaching end of the selling season for sandals, we are discounting selected Teva styles, which will adversely affect our projected gross margin," the company said. On the flipside, Deckers said that it remains comfortable with its second-half outlook as demand for its UGG brand remains strong. Shares traded down $1.72 to $21.72.

Smithfield Foods

(SFD)

fell modestly after the company posted in-line fourth-quarter earnings on better-than-expected sales. The pork products maker earned $85.4 million, or 76 cents a share, on sales of $2.92 billion. Excluding items, the company would have earned $81 million, or 73 cents a share. Analysts were expecting earnings of 73 cents a share on sales of $2.85 billion. A year ago, the company posted earnings from continuing operations of $71.1 million, or 63 cents a share, on sales of $2.52 billion.

In addition to the company's earnings announcement, Smithfield also approved a new 2 million-share repurchase plan. "The new share repurchase authorization is evidence of our confidence in the future," the company said. "Our outlook is extremely positive." Including the new buyback plan, the company is now authorized to buy back up to 2.9 million shares. Shares traded down 14 cents to $28.82.

Shares of

Kellwood

(KWD)

fell 2.1% after the company posted in-line first-quarter earnings but posted sales that fell short of expectations. The clothing marketer earned $12.5 million, or 45 cents a share, on sales of $639.4 million. Analysts were expecting earnings of 45 cents a share on sales of $644.1 million. A year ago, the company earned $25 million, or 90 cents a share, on sales of $686.1 million.

Looking ahead, Kellwood forecast second-quarter earnings of $10.5 million, or 38 cents a share, on sales of $570 million. Analysts are expecting earnings of 35 cents a share on sales of $563.5 million. For the full year, Kellwood forecast earnings of $68.5 million, or $2.38 a share, on sales of $2.4 billion. Included in the earnings estimate is a charge of 2 cents a share, related to the closure of a plant in Mexico. Analysts are expecting earnings of $2.37 a share on sales of $2.51 billion. As for the sales shortfall, the company said it appears that sales in the second half of the year will not be at the same level as previously expected. Shares traded down 55 cents to $25.90.

Bebe Stores

(BEBE)

traded actively after the company confirmed a 3-for-2 stock split and announced a substantial dividend increase. Shares will begin trading on a split-adjusted basis beginning on June 6. The company's new dividend of 4 cents a share, up from about 2 cents, will be paid on July 1 to shareholders of record as of June 20. Bebe attributed the dividend increase to solid business performance and strong customer acceptance of its merchandise. Shares traded down $1.03 to $41.54.

Shares of

Boykin Lodging

(BOY)

rose 5.2% after the hotel real estate investment trust said it hired UBS Investment Bank to assist the company in exploring strategic alternatives. The company said it does not intend to make any further announcements unless and until it terminates the process or executes a definitive agreement relating to a transaction. Shares traded up 68 cents to $12.38.

NYSE

volume leaders included

Exxon Mobil

(XOM) - Get Report

, down 17 cents to $57.15;

Titan

(TTN)

, down 32 cents to $22.47;

Lucent Technologies

(LU)

, up 3 cents to $2.84;

Ford

(F) - Get Report

, down 37 cents to $9.90;

Nortel Networks

(NT)

, up 10 cents to $2.86;

Time Warner

(TWX)

, down 1 cent to $17.25;

Elan

(ELN)

, up 18 cents to $7.03;

Pfizer

(PFE) - Get Report

, down 24 cents to $27.96;

General Electric

(GE) - Get Report

, down 20 cents to $36.70; and

Motorola

(MOT)

, down 4 cent to $17.74.

Nasdaq volume leaders included

Microsoft

(MSFT) - Get Report

, down 36 cents to $25.43;

Sun Microsystems

(SUNW) - Get Report

, down 13 cents to $3.66;

Cisco Systems

(CSCO) - Get Report

, down 48 cents to $19.40;

Intel

(INTC) - Get Report

, down 26 cents to $27.33;

Oracle

(ORCL) - Get Report

, down 39 cents to $12.59;

Apple Computer

(AAPL) - Get Report

, down $1.80 to $38.24; and

Sirius Satellite Radio

(SIRI) - Get Report

, unchanged at $6.