Shares of

Majesco Entertainment

(COOL)

were among the

Nasdaq's

losers Wednesday, falling 47% after the company warned that third-quarter results would fall well short of expectations, cut its 2005 outlook and announced the resignation of its chief executive.

The seller of video games expects a third-quarter operating loss of $19 million to $22 million on sales of $5 million to $10 million. Analysts polled by Thomson First Call are expecting earnings of 2 cents a share on sales of $32.2 million.

For all of 2005, the company now expects to post an operating loss of $16 million to $19 million on sales of $120 million to $125 million. Previously, the company said that it would report operating income of $16 million to $18 million on sales of $175 million to $185 million. Analysts polled by Thomson First Call are looking for earnings of 34 cents a share on sales of $177.1 million. The company blamed the weaker outlook on a host of problems, ranging from weaker-than-expected sales across all of its product lines to a slow summer season that was exacerbated by an earlier-than-expected upcoming video game platform transition. Shares were recently trading down $3.25 to $3.64.

Michaels Stores

(MIK) - Get Report

fell 2% after the company reaffirmed its second-quarter earnings and sales guidance. The company continues to expect earnings of 20 cents to 22 cents a share on same-store sales that are expected to increase by 5% to 6%. Analysts are expecting earnings of 22 cents a share. Looking ahead, Michaels Stores said that 2005 earnings would increase 25% to 30% over 2004 earnings of $1.45 a share. Analysts are currently expecting earnings of $1.87 a share. Shares were trading down 97 cents to $40.32.

Shares of

Navarre

(NAVR)

fell 4% after the company said that its chief financial officer resigned. Navarre said James Gilbertson resigned to pursue other business interests. Gilbertson, the company said, will remain in a consulting capacity with the company until Aug. 15. The company said that it would begin a search for a new CFO. Shares were trading down 32 cents to $7.64.

Weatherford International

(WFT) - Get Report

rose 3% after Standard & Poor's said that it would add the company to the S&P 500 index on a date in the future. Weatherford will replace

Toys 'R' Us

( TOY), which is being acquired. Shares of Weatherford were recently trading up $1.49 to $61.

Shares of

Fastenal

(FAST) - Get Report

rose 2% after the company posted second-quarter earnings that topped forecasts. The industrial and construction supplies company earned $44.6 million, or 59 cents a share, on sales of $383.3 million. Analysts were expecting earnings of 57 cents a share on sales of $381.8 million. A year ago the company earned $34.8 million, or 46 cents a share, on sales of $310.1 million. Shares were trading up $1 to $63.48.

NYSE

volume leaders included

Lucent Technologies

( LU), up 4 cents to $3.19;

Nortel Networks

( NT), up 6 cents to $2.79;

HCA

(HCA) - Get Report

, down $4.25 to $50.66;

Harley Davidson

( HDI), up $1.52 to $51.22;

Motorola

( MOT), up 7 cents to $19.34;

Pfizer

(PFE) - Get Report

, down 14 cents to $26.93; and

Citigroup

(C) - Get Report

, down 28 cents to $45.72.

Nasdaq volume leaders included

Sirius Satellite Radio

(SIRI) - Get Report

, down 6 cents to $6.92;

Microsoft

(MSFT) - Get Report

, down 3 cents to $25.58;

Intel

(INTC) - Get Report

, down 11 cents to $27.64;

Symantec

(SYMC) - Get Report

, up 26 cents to $23.71;

Cisco Systems

(CSCO) - Get Report

, up 8 cents to $19.86;

Host America

(CAFE)

, up $1.84 to $8.19;

Sun Microsystems

(SUNW) - Get Report

, up 2 cents to $3.72;

Oracle

(ORCL) - Get Report

, up 8 cents to $13.88; and

Applied Materials

(AMAT) - Get Report

, down 16 cents to $16.94.