Stocks in Motion: Russell

Shares tank on a lowered outlook.
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Shares of

Russell

(RML)

were among the

NYSE's

losers Thursday, falling 11% after the company cut its second-quarter earnings forecast well below Wall Street expectations.

The maker of athletic apparel now expects earnings of 12 cents to 14 cents a share, down from previous guidance of 18 cents to 22 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 21 cents a share. The company expects sales to come in at more than $342 million. Analysts had been expecting sales of $326.8 million. The company blamed the earnings shortfall on several short-term operational issues and narrower-than-expected reductions in costs. "We believe these results are primarily due to short-term execution problems, which we have already begun to address," the company said in a statement. Russell expects to post second-quarter results on July 28. Shares were recently trading down $2.34 to $18.38.

Fifth Third Bancorp

(FITB) - Get Report

fell 4% after the company posted a decline in second-quarter earnings that disappointed investors. But earnings of $417 million, or 75 cents a share, still managed to beat analysts' expectations of 74 cents a share. A year ago the company reported earnings of $448 million, or 79 cents a share. "The combination of recent decreases in long-term interest rates, deposit growth trends below our expectations, and mix shifts within the deposit base to higher cost time deposits all negatively impacted our spread-based revenues this quarter," the company said. "This remains both our largest source of frustration and greatest opportunity for improved performance in the near term." Shares were trading down $1.77 to $41.67.

Shares of

Marriott International

(MAR) - Get Report

fell 2% after the company posted second-quarter earnings. The hotel operator reported earnings of $138 million, or 59 cents a share, on sales of $2.66 billion. Excluding a number of items, Marriott would have earned $175 million, or 75 cents a share. Analysts were expecting earnings of 77 cents a share on sales of $2.58 billion. Excluding items, the company earned $129 million, or 54 cents a share, a year ago. Looking ahead, Marriott forecast third-quarter earnings of 61 cents to 65 cents a share. Analysts are expecting earnings of 61 cents a share. Shares were trading down $1.40 to $69.

Calgon Carbon

(CCC) - Get Report

fell 9% after the maker of water purification systems previewed second-quarter results that fell below expectations. When the company reports earnings in late July it expects to post earnings of 6 cents to 8 cents a share on sales of $96 million. Analysts were expecting earnings of 9 cents a share on sales of $97.7 million. A year ago the company earned 11 cents a share on sales of $97.1 million. Second-quarter results were hurt by contract delays and by higher costs. Shares were trading down 95 cents to $9.30.

Shares of

Lone Star Steakhouse & Saloon

(STAR) - Get Report

fell 8% after the company posted preliminary second-quarter results that fell short of expectations. The restaurant operator earned $5.3 million, or 24 cents a share, on sales of $153.6 million. A charge of $636,000 was included in operating income. Analysts were expecting earnings of 33 cents a share on sales of $157.8 million. A year ago the company earned $5.3 million, or 22 cents a share, on sales of $155.5 million. Shares were trading down $2.52 to $27.74.

NYSE volume leaders included

Lucent Technologies

(LU)

, down 1 cent to $3.20;

Advanced Micro Devices

(AMD) - Get Report

, up 23 cents to $19.48;

Time Warner

(TWX)

, up 42 cents to $16.71;

General Electric

(GE) - Get Report

,

Symbol Technologies

(SBL)

,

Motorola

(MOT)

, up 23 cents to $19.68; and

Nortel Networks

(NT)

, up 1 cent to $2.81.

Nasdaq

volume leaders included

Apple Computer

(AAPL) - Get Report

, up $2.94 to $41.29;

Cisco Systems

(CSCO) - Get Report

, down 14 cents to $19.83;

Intel

(INTC) - Get Report

, up 37 cents to $27.96;

Microsoft

(MSFT) - Get Report

, up 27 cents to $25.93;

Oracle

(ORCL) - Get Report

, down 4 cents to $13.92;

Sirius Satellite Radio

(SIRI) - Get Report

, up 2 cents to $6.93;

Symantec

(SYMC) - Get Report

, down 37 cents to $23.73;

Avid Technology

(AVID) - Get Report

, down $14 to $41.30; and

Sun Microsystems

(SUNW) - Get Report

, up 1 cent to $3.73.