Stocks in Motion: ElkCorp

The roofing concern rises on an optimistic 2005 outlook.
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Updated from 11:24 a.m. EDT

Shares of

Abercrombie & Fitch

(ANF) - Get Report

were among the

NYSE's

losers Wednesday, after the company posted better-than-expected second-quarter earnings, but warned that

third-quarter earnings would not meet expectations.

The clothing retailer posted second-quarter earnings of 44 cents a share on sales of $401.3 million. Analysts polled by Thomson First Call had expected it to earn 43 cents a share on sales of $405 million. Looking ahead, the company said that it expects third-quarter earnings to be similar to year-ago results, when it earned 51 cents a share. Analysts were expecting the company to post a third-quarter profit of 59 cents a share. Shares traded down $4.14, or 12.4%, to $29.32.

Brinker International

(EAT) - Get Report

fell after it posted in-line fourth-quarter earnings, but warned that 2005 earnings results would fall short of expectations. Excluding items, the restaurant operator posted a fourth-quarter profit of 71 cents a share on sales of $1.02 billion, in line with expectations. Looking ahead, Brinker forecast first-quarter earnings of 42 cents to 44 cents a share, which excludes a gain of 3 cents. Analysts had expected first-quarter earnings of 51 cents a share. For the full year, Brinker forecast earnings of $2.18 to $2.30 a share. Analysts were looking for $2.33 a share. Shares of Brinker International traded down $2.60, or 7.6%, to $31.60.

Shares of

Toys R Us

(TOY)

fell after the company said that it would separate its global toy business and Babies R Us unit. The toy company said that as part of its comprehensive review, it is exploring the possibility of selling its global toy business as well as preparing for a possible spin-off of its Babies R Us unit. Toys R Us said the two businesses operate in "distinct markets" and are at "fundamentally different phases in their growth cycle." In addition to the business separation, Toys R Us also plans to restructure its toy business, which will reduce operating and capital expenses. Shares of Toys R Us traded down 27 cents, or 1.6%, to $16.15.

Westlake Chemical

(WLK) - Get Report

rose after it successfully completed its initial public offering, pricing 11.8 million shares at $14.50 apiece. The pricing came in below its expected range of $16 to $18 a share. The chemicals company said that it plans to use the $159 million in proceeds to repay debt. Shares of Westlake Chemical traded up 15 cents, or 1%, to $14.65.

Shares of

ElkCorp

(ELK)

rose after the company posted mixed earnings results for the fourth quarter but said that 2005 earnings results would be higher than analyst forecasts. Excluding items, the roofing company posted a fourth-quarter profit of 42 cents a share on sales of $158.1 million. Analysts were expecting 47 cents a share on sales of $156 million. Looking ahead, ElkCorp forecast 2005 earnings of $2 to $2.05 a share. Analysts had expected earnings of $1.92 a share. Shares of ElkCorp traded up $2.79, or 13.5%, to $23.47.

NYSE volume leaders included

Lucent

(LU)

, down 15 cents to $2.86;

Texas Instruments

(TXN) - Get Report

, down $1.37 to $18.54;

National Semiconductor

(NSM)

, down $2.22 to $13.48;

Nortel Networks

(NT)

, down 23 cents to $3.35; and

Pfizer

(PFE) - Get Report

, up 46 cents to $31.77.

Nasdaq

volume leaders included

Cisco

(CSCO) - Get Report

, down $2.17 to $18.29;

Intel

(INTC) - Get Report

, down 38 cents to $22.16;

Microsoft

(MSFT) - Get Report

, down 31 cents to $27.41;

Oracle

(ORCL) - Get Report

, down 41 cents to $10.19; and

Applied Materials

(AMAT) - Get Report

, down 64 cents to $16.26.