The Day's Winners

Idexx Laboroatories

(IDXX) - Get Report

tacked on 12% to $30.09 after reporting a 30% increase in profits on Monday. The veterinary drugmaker said it earned $12.9 million, or 37 cents a share, in the second quarter, up from $9.9 million, or 29 cents a share, in the year-ago period. Revenue was up 4% to $105.7 million for the quarter.

Wireless stocks were moving higher on


( NXTL) better-than-expected second-quarter earnings. Nextel, which rose 29% to $6.49, said it earned 37 cents a share in the quarter, 61 cents higher than the First Call consensus estimate of a loss of 24 cents a share. Revenue was up 25% to $2.15 billion, compared with the consensus estimate of $2.11 billion. Going forward, Nextel said it should see operating cash flow of at least $3 billion.

The results sparked a wireless really, with

Leap Wireless

( LWIN) adding 28%,

Nextel Partners

( NXTP) rising 31%,

SBA Communications

(SBAC) - Get Report

gaining 21%,

Sprint PCS


climbing 10%, and

AT&T Wireless

( AWE) adding 10%.



(NKE) - Get Report

moved up 2.4% to $53.65 on an upgrade at Merrill Lynch. The firm said Nike has solid earnings visibility and an impressive marketing machine. Merrill moved its rating up to strong buy from buy, saying Nike was the "un-WorldCom" with strong cash flow and quality earnings. The brokerage set a new price target of $64 on the stock.

Shares of

Performance Food Group

(PFGC) - Get Report

were gaining 2% to $30.62 after the company said its second-quarter results will exceed the Thomson Financial/First Call analyst consensus. Performance expects to earn 45 cents to 47 cents a share, compared with Wall Street's estimate of 40 cents. For the full year, the company sees $1.48 to $1.50, ahead of estimates of $1.44. Performance said all of its operating segments saw growth, especially its fresh-cut foods business.

The Day's Losers

Health services company


( IMPH) fell 8% to $13.08 on a downgrade to market perform from buy by Thomas Weisel Partners. The brokerage firm said visibility concerns led to the rating cut, and it also slashed its 2003 EPS estimate on the stock to $1.39 from $1.56. Impath is expected to report its second-quarter results on Wednesday after the market closes.

Shares of

Mohawk Industries

(MHK) - Get Report

plunged 20% to $44.30 after the company reported disappointing second-quarter results. The company, which makes floor coverings including carpets and laminates, earned $1.10 a share in the quarter, up from 88 cents a year ago, but below the consensus analyst estimate of $1.11. Sales were up 42% to $1.23 billion from $865 million. Mohawk said it expects full year EPS to be 15% to 17% above its 2001 results of $3.35, but the new guidance falls short of the consensus estimate of $4.35 for the year. The stock was also hurt by a downgrade to market perform from strong buy by Raymond James.

Photon Dynamics

( PHTN) dropped 12% to $24.64 after the company released its third-quarter results and warned of a much weaker fourth quarter. Photon said it earned 1 cent a share in the third quarter on an operating basis, missing the consensus by 4 cents a share. Revenue for the quarter was $19.3 million, also below the consensus of $21.2 million. Looking ahead, Photon said it expects to earn 1 cent to 5 cents a share in the fourth quarter on 10% to 15% revenue growth, compared with a consensus estimate of 16 cents a share.

Shares of



were falling 11% to $12.93 after Goldman Sachs changed its rating on the stock to not rated from recommended. The firm said the move reflects heightened concern about the ongoing


investigation of Tyco's accounting practices.

Jewelry retailer

Whitehall Jewellers

( JWL) shed 14% to $12.90 after the company said it will see weaker-than-expected second-quarter results on declining sales trends. The company now expects its earnings at the low end of previous guidance of 4 cents to 6 cents a share in the quarter and $1.13 to $1.17 for the year. Whitehall said it has continued to monitor the macroeconomic environment and has made progress in controlling costs despite the challenging sales environment.