Updated from 11:09 a.m.
were among the
losers Tuesday, falling 14.4% after the company posted third-quarter earnings and sales that missed Wall Street expectations.
The maker of copper electrical wire posted earnings of 27 cents a share on sales of $158.6 million. Analysts polled by Thomson First Call were expecting earnings of 33 cents a share on sales of $162.8 million. A year ago Encore earned 23 cents a share on sales of $113.9 million. Shares traded down $2.30 to $13.63.
fell 36.3% after the parent company of ATA Airlines announced that Gilbert Viets would serve as the company's chief restructuring officer. The move fueled speculation that ATA is readying itself for a possible bankruptcy filing. Viets had most recently served as ATA's chief financial officer. David Wing will assume the role of CFO. Both changes are effective Oct. 19.
In August, ATA warned that it would likely run out of cash sometime in early 2005, resulting in asset sales or a restructuring. Last week the company said its financial problems had worsened. The dwindling cash position, the company said, "has been primarily the result of record fuel costs, continued weakness in overall revenue yields, and specifically in Florida as a result of multiple hurricanes." Finally, ATA said that a 10% wage cut approved by its flight attendants would "not be enough cost savings to satisfy these liquidity concerns." Shares traded down 53 cents to close at 93 cents.
rose 6.9% after the company posted third-quarter earnings and sales that topped expectations. Excluding items, the steelmaker earned 63 cents a share on sales of $1.34 billion. Analysts were expecting earnings of 55 cents a share on sales of $1.31 billion. The company said that strong demand and higher selling prices contributed to the quarter's results. Looking ahead, AK Steel said fourth-quarter operating income would exceed third-quarter results. Analysts are expecting earnings of 57 cents a share on sales of $1.32 billion. Shares traded up 66 cents to $10.25.
rose 5.7% after the restaurant operator posted first-quarter earnings above expectations. Excluding charges, Brinker posted earnings of 40 cents a share on sales of $910.5 million. Analysts were expecting earnings of 39 cents a share on sales of $910.3 million. Looking ahead, Brinker expects second-quarter earnings of 45 cents to 47 cents a share, in line with expectations. Shares of Brinker traded up $1.76 to $32.40.
rose 4.5% after the company posted blowout third-quarter earnings results. The steelmaker earned $2.72 a share on sales of $3.73 billion. Analysts were expecting earnings of $2.05 a share on sales of $3.5 billion. The company said that strength in the steel market and ongoing cost-reduction efforts led to the solid third-quarter results. Looking ahead, U.S. Steel expects continued strong performance during the fourth quarter in each of its major business units. Shares traded up $1.60 to $37.45.
rose 5.3% after Standard & Poor's said the financial services company would be added to the
index on an undetermined date. CIT will replace
, which is being acquired by Cingular Wireless in a transaction that is still subject to final approval. Shares of CIT traded up $2 to $40.10.
rose 3% after posting a much narrower third-quarter loss. The oil services firm, a unit of giant
, lost 4 cents a share in the latest period, down from $2.88 a share a year earlier. Shares rose 55 cents to $17.40.
volume leaders included
, down 3 cents to $3.45;
Delta Air Lines
, up 85 cents to $4.63;
American International Group
, up $4.23 to $60.33;
Marsh & McLennan
, up $2.45 to $28.27;
, up 55 cents to $28.33; and
, up 73 cents to $33.63.
Nasdaq volume leaders included
, up 27 cents to $27.90;
Sirius Satellite Radio
, up 1 cent to $4.02;
, up 9 cents to $21.40;
, up 5 cents to $18.11; and
, up 12 cents to $4.27.