Stocks in Motion: DeVry

The shares fall sharply on a wide earnings miss.
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Updated from 12:45 p.m. EDT

Shares of

DeVry

(DV)

were among the

NYSE's

losers Thursday, falling 25.2% after the company posted first-quarter earnings and sales that missed Wall Street expectations by a wide margin.

The career education company earned 6 cents a share on sales of $188.4 million. Analysts polled by Thomson First Call were expecting earnings of 16 cents a share on sales of $197.4 million. Weak technology enrollments along with a higher proportion of part-time student enrollment contributed to the first-quarter miss. DeVry said that it is "extremely dissatisfied" with the quarterly results but doesn't expect "this depressed level of earnings performance" to continue throughout 2005. Shares traded down $4.93 to $14.60.

Reebok International

(RBK)

rose 2.1% after the footwear maker posted third-quarter earnings and sales well above expectations. The company earned $1.36 a share on sales of $1.17 billion. Analysts were expecting earnings of $1.18 a share on sales of $1.13 billion. The company's sales results were helped by its acquisition of Hockey Company and by favorable foreign currency-exchange rates.

Separately, Reebok announced the resignation of Jay Margolis, its president and COO. After a transition period, Paul Fireman, chairman and CEO, will assume day-to-day responsibilities of the company. The company doesn't plan to find a replacement for Margolis' position. Shares of Reebok traded up 76 cents to $36.37.

Shares of

Gevity

(GVHR)

rose 3.6% after the company posted third-quarter earnings that were above expectations. The human resources company posted a profit of 29 cents a share on sales of $148 million. Analysts were expecting earnings of 28 cents a share on sales of $163.2 million. A year ago, Gevity earned 16 cents a share on sales of $102.8 million. Looking ahead, full-year earnings are now expected to be $1.09 a share, up from previous guidance of $1.05 a share. Analysts had been expecting earnings of $1.08 a share. Gevity traded up 57 cents to $16.52.

York International

(YRK)

traded actively after the company missed third-quarter earnings targets and warned that fourth-quarter results would miss the mark as well. The heating- and air-conditioning products company earned 75 cents a share during the third quarter on sales of $1.16 billion. Analysts were expecting earnings of 80 cents a share on sales of $1.09 billion. Higher material costs contributed to the weaker-than-expected third-quarter results. For the fourth quarter, York forecast earnings of 60 cents to 70 cents a share. Analysts had been expecting earnings of 86 cents a share. Shares traded up 5 cents to $30.83 on more than twice its normal daily trading volume.

Shares of

Timberland

(TBL)

rose 9.6% after the company posted strong third-quarter results that easily outpaced expectations. The footwear maker posted a profit of $1.92 a share on sales of $493.9 million. Analysts were expecting earnings of $1.77 a share on sales of $483.1 million. U.S. sales grew by 6% during the quarter while international sales grew by 10.6% on a constant-dollars basis. Shares of Timberland traded up $5.54 to $63.35.

NYSE volume leaders included

Lucent

(LU)

, up 3 cents to $3.51;

Motorola

(MOT)

, down 10 cents to $16.99;

Corning

(GLW) - Get Report

, up 29 cents to $10.73;

American International Group

(AIG) - Get Report

, down $1.15 to $56.45;

Pfizer

(PFE) - Get Report

, up 14 cents to $28.44; and

Maxtor

(MXO)

, down $1.49 to $3.15.

Nasdaq

volume leaders included

Microsoft

(MSFT) - Get Report

, down 14 cents to $28.56;

Isonics

(ISON)

, down 73 cents to $4.77;

Intel

(INTC) - Get Report

, up 24 cents to $21.69;

Sun Microsystems

(SUNW) - Get Report

, up 21 cents to $4.23;

JDS Uniphase

(JDSU)

, up 24 cents to $3.56;

Oracle

(ORCL) - Get Report

, up 2 cents to $12.44; and

Cisco

(CSCO) - Get Report

, up 18 cents to $18.63.