Thursday's Early Winners and Losers

Blue Coat is ripped after its earnings and guidance miss forecasts.
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Blue Coat Systems (BCSI) was tattered in late trading Wednesday after the Web-security company posted weaker-than-expected fiscal fourth-quarter results and gave guidance below analysts' forecasts.

Blue Coat said it swung to a loss of $2.6 million, or 19 cents a share, compared with earnings of $2.8 million, or 21 cents a share, a year ago. Excluding items, the company would have posted income of $1 million, or 7 cents a share. Analysts polled by Thomson First Call anticipated earnings of 9 cents a share, before items. Blue Coat's revenue for the quarter ended April 30 rose to $35.9 million from $28.4 million. Wall Street expected a top line of $35.1 million.

For the first quarter, the company projected a loss of 15 cents to 17 cents a share. Excluding items, Blue Coat sees earnings of 4 cents to 6 cents a share, well below analysts' projection of 14 cents. The company forecast first-quarter revenue of $36.1 million to $36.6 million, compared with analysts' estimate of $37.2 million. Shares tumbled $3.15, or 16%, to $16.41 after hours.

Shares of

Petco Animal Supplies

(PETC)

moved lower after the San Diego-based pet supplies retailer's soft guidance overshadowed better-than-expected first-quarter earnings. The company posted a first-quarter profit of $11 million, or 19 cents a share, down from $17.2 million, or 29 cents a share, a year ago. Sales rose 8.6% to $521 million, as same-store sales rose 2.2%. Analysts expected earnings of 18 cents a share on revenue of $521.3 million.

For the second quarter, the company predicted earnings of 23 cents to 25 cents a share, including a charge of 4 cents a share for stock options. Same-store sales are expected to grow 2% to 4%. Wall Street is looking for earnings of 30 cents a share, including options. Petco forecast full-year earnings of $1.32 to $1.36 a share, compared with Wall Street's prediction of $1.33. Shares of Petco dropped 50 cents, or 2.3%, to $21.31.

Sirius Satellite Radio

(SIRI) - Get Report

shares rose after the New York-based company reaffirmed its guidance for more than 6.2 million subscribers by the end of 2006, an 87% increase over the company's subscriber base at the end of 2005. Sirius said it still expects to add more than 2.8 million net subscribers during the year. "We continue to experience dramatic growth and strong demand for our service across our retail and automotive OEM channels," said CEO Mel Karmazin in a statement. "This supports our expectation that we will capture the majority of retail-satellite-radio net additions in 2006."

Separately, Sirius shock jock Howard Stern and

CBS

(CBS) - Get Report

reportedly settled their dispute. CBS sued Stern Feb. 28, claiming he breached his contract while at the company's CBS Radio unit by promoting his then-pending departure for Sirius. The satellite-radio company's shares rose 21 cents, or 5.7%, to $3.89.

JLG Industries

(JLG)

shares rose in after-hours trading as the maker of aerial work platforms posted higher-than-expected third-quarter earnings. For the quarter ended April 30, the company reported a profit of $46.2 million, or 43 cents a share, compared with $22.7 million, or 24 cents a share, a year ago. Revenue climbed to $629.6 million from $494.4 million. Analysts, on average, projected earnings of 35 cents a share on revenue of $579.9 million.

For the full year, JLG raised its EPS forecast to $1.25 to $1.30 from its previous prediction of $1.18 to $1.23. The guidance excludes the $14.6 million sale of its excavator business. Wall Street is looking for full-year earnings of $1.27 a share. Shares jumped $1.92, or 8.9%, to $23.45.

Shares of

Coldwater Creek

(CWTR)

slipped as the Sandpoint, Idaho-based women's specialty retailer said it would restate its fiscal 2005 financial statements to correct the manner in which it accounts for marketing fees received from its credit-card-issuer program. As a result of the restatement, net income per share for fiscal 2005 will decrease by about 6 cents a share, while net sales will decrease by about $8.5 million.

For the first quarter, Coldwater Creek reported income of $11.6 million, or 12 cents a share, up from income of $8.5 million, or 9 cents a share, a year ago. Sales increased 38% to $215.3 million. Analysts were looking for income of 11 cents a share and sales of $191.5 million. Coldwater Creek dropped $1.26, or 4.7%, to $25.75 after hours.