Updated from 11:45 a.m. EDT

Shares of

Exide Technology

(XIDE)

were among the

Nasdaq's

losers Tuesday, falling 21.5% after the company posted a second-quarter loss.

Excluding items, the battery maker posted a pro forma second-quarter loss of 91 cents a share on sales of $637.6 million. A year earlier the company posted an adjusted profit of $4.8 million, or 18 cents a share, on sales of $587.4 million. In the most recent quarter, Exide said commodity costs rose about 70% from a year ago.

During the second half of its fiscal year, the company expects hedging, pricing actions, restructuring and cost reductions implemented during the first half of the year to mitigate the impact of higher lead prices. Shares traded down $2.82 to $10.32.

NetWolves

(WOLV)

rose 67.5% on big volume after the company posted a first-quarter profit on an 18% jump in sales. The network security provider posted a profit of $14,365 on sales of $7.1 million. A year ago the company posted a loss of $924,399 on sales of $6 million. First-quarter results marked the second straight quarter of profitability for the company. Shares traded up 54 cents to $1.34 on volume of almost 17 million shares, or more than 100 times its average daily trading volume.

CarMax

(KMX) - Get Report

rose 6.6% after the company raised its third-quarter earnings guidance above analysts' expectations. The used-car dealer now expects to earn 17 cents to 18 cents a share, up from previous guidance of 12 cents to 17 cents a share. The estimate includes a gain of 1 cent a share from a receivables securitization. Analysts surveyed by Thomson First Call had been expecting third-quarter earnings of 15 cents a share. Shares traded up $1.80 to $29.07.

Shares of

Investors Financial Services

( IFIN) rose 9.6% after the company posted a third-quarter profit that beat expectations. The financial services company earned 53 cents a share on net operating revenue of $148.8 million. Analysts were expecting earnings of 51 cents a share on revenue of $149.3 million. A year ago the company earned 41 cents a share on revenue of $122.1 million. The company also announced the completion of its earnings restatement for 2001, 2002, 2003 and the first half of 2004. The restatement arose from an accounting change in its securities portfolio. The restatement reduced earnings by 7 cents a share for the three-and-a-half-year period. Shares traded up $3.93 to $44.96.

Elbit Systems

(ESLT) - Get Report

rose 5% after the company posted third-quarter earnings results above expectations. Excluding items, the defense company earned 34 cents a share on sales of $223.9 million. Analysts were expecting earnings of 33 cents a share on sales of $243.7 million. A year ago the company earned 24 cents a share on sales of $214.3 million. Shares traded up $1.09 to $22.77.

Shares of

PennRock Financial Services

(PRFS)

rose 30.8% after the company agreed to be acquired by

Community Banks

(CMTY)

for about $326 million in stock. The deal values PennRock shares at $41.35 a share, representing a premium of 40% over PennRock's closing price of $29.60 on Monday. The deal is expected to be accretive to Community Banks' earnings in the first full year after the merger is completed. Shares of PennRock traded up $9.11 to $38.71 while Community Banks traded down $3.19, or 10.1%, to $28.28.

NYSE

volume leaders included

Lucent

( LU), down 22 cents to $3.83;

Nortel Networks

( NT), up 3 cents to $3.14;

Trizec Properties

( TRZ), down 49 cents to $16.36;

Pfizer

(PFE) - Get Report

, down 30 cents to $27.32; and

Merck

(MRK) - Get Report

, up 61 cents to $27.70.

Nasdaq volume leaders included

Sirius Satellite Radio

(SIRI) - Get Report

, up 26 cents to $4.71;

Charter Communications

(CHTR) - Get Report

, down 55 cents to $2.16;

Microsoft

(MSFT) - Get Report

, down 27 cents to $27.12;

Intel

(INTC) - Get Report

, up 7 cents to $23.84;

Cisco

(CSCO) - Get Report

, down 17 cents to $19.38;

Sun Microsystems

(SUNW) - Get Report

, down 13 cents to $4.96; and

PeopleSoft

(PSFT)

, up 20 cents to $22.74.