Updated from 1:09 p.m. EDT

Shares of

Sotheby's Holdings

(BID) - Get Report

were among the


winners Monday after the company posted strong second-quarter earnings.

Excluding items, the auction company earned 66 cents a share on sales of $169.5 million. Analysts polled by Thomson First Call had expected it to earn 47 cents a share on sales of $134.3 million. Higher auction commissions and strong spring sales around the world aided second-quarter results. Looking ahead, Sotheby's expects the recovery in the international art market to continue. Shares of Sotheby's traded up $1.79, or 12.6%, to $15.99.

Knight Trading


rose after it agreed to sell its derivative business to


(C) - Get Report

for about $225 million in cash. Knight said that it sold the derivatives business so that it could concentrate on its equity markets and asset-management businesses. The transaction is scheduled to close in the fourth quarter. Knight will use the cash proceeds for general corporate purposes, including share repurchases, reinvestments and acquisitions. Shares of Knight Trading traded up 47 cents, or 5.7%, to $8.76.

Shares of

CP Ships


fell after the company said it would restate earnings results from 2002, 2003 and part of 2004. The container ship company said the bulk of the restatement would be to its 2003 results. Income will be reduced by $22 million to $27 million, which is in addition to the $8 million restatement the company announced in May. Income for 2002 will be reduced by about $7 million. First-quarter results for 2004 will be reduced by $6 million, instead of the $8 million it originally estimated. CP Ships said that a new accounting system, implemented in January, revealed the accounting deficiencies and processes. Shares of CP Ships traded down $3.70, or 22.4%, to $12.85.

Sizeler Property Investors

(SIZ) - Get Report

fell after it cut its quarterly dividend. The real estate investment trust reduced the dividend to 10 cents from 23 cents, citing a wish to generate more money for future real estate investments. What's more, it may use some of the withheld cash to pay down additional debt. Shares of Sizeler Property traded down $1.45, or 15.4%, to $7.95.

Shares of


(DDS) - Get Report

rose after the company agreed to sell its private label credit card portfolio to

General Electric's

(GE) - Get Report

consumer finance arm for about $1.25 billion. Dillard's expects to use the proceeds from the sale of Dillard National Bank, its credit card subsidiary, to pay down debt, repurchase shares and for general corporate purposes. As part of the transaction,

Dillard's and GE Consumer Finance will enter into a 10-year marketing and servicing agreement. Shares of Dillard's traded up $1.22, or 5.7%, to $22.70.

NYSE volume leaders included


( LU), up 3 cents to $2.99;

Time Warner


, down 40 cents to $15.93;

Nortel Networks

( NT), down 8 cents to $3.51;


(PFE) - Get Report

, up 2 cents to $31.20; and


(XOM) - Get Report

, up 44 cents to $45.56.


volume leaders included


(MSFT) - Get Report

, up 4 cents to $27.18;


(INTC) - Get Report

, down 20 cents to $22.57;


(CSCO) - Get Report

, up 12 cents to $20.05;


(ORCL) - Get Report

, up 18 cents to $10.37; and

Sun Microsystems

(SUNW) - Get Report

, down 3 cents at $3.48.