Thursday's Winners & Losers: Jos. A. Bank

The retailer's shares sink nearly 30% after its earnings fall well short of estimates.
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Shares of

Jos. A. Bank Clothiers

(JOSB)

were among the

Nasdaq's

losers Thursday, plunging 29% after the men's clothing retailer posted fiscal first-quarter results that fell well short of Wall Street's expectation.

For the period ended April 29, the company earned $5.9 million, or 32 cents a share, on sales of $113.7 million. Analysts polled by Thomson First Call expected earnings of 46 cents a share on sales of $114.9 million. A year earlier, the company earned $6.7 million, or 38 cents a share, on sales of $96.6 million. "While our sales of new transitional spring products remained consistent with last year, gross profits declined primarily as a result of increased customer demand for fall merchandise, resulting in less demand for the year-round core merchandise," the company said.

Looking ahead, Jos. A. Bank expects second-quarter earnings to grow by at least 10% from a year ago. For all of fiscal 2006, which ends Feb. 3, 2007, the company sees earnings rising by a double-digit percentage. The retailer earned $1.95 a share during fiscal 2005. Analysts project second-quarter earnings of 36 cents a share and full-year earnings of $2.36 a share. Shares were trading down $10.69 to $26.44.

Procter & Gamble

(PG) - Get Report

rose 3% after the consumer-products company backed its fiscal fourth-quarter earnings and sales guidance. For the period ending in June, the company continues to see earnings of 52 cents to 54 cents a share on sales growth of 20% to 24%. Analysts project earnings of 54 cents a share on sales of $17.54 billion. Procter & Gamble plans to release its fourth-quarter results on Aug. 2. Shares were up $1.46 to $54.70.

Shares of

Volt Information Services

(VOL)

climbed 12% after the staffing-services company posted better-than-expected second-quarter earnings. The company earned $9.1 million, or 59 cents a share, for the quarter ended April 30, up from $4.5 million, or 29 cents a share, a year earlier. Analysts expected earnings of 36 cents a share. Revenue rose to $593.8 million from $546 million. "Strong demand and margin improvement in our technical placement and administrative and industrial divisions, along with growth in our higher margin permanent placement and recruitment process outsource offerings, are the primary drivers for the company's improved performance," Volt said. Shares were trading up $3.70 to $33.75.

Manitowoc

(MTW) - Get Report

slid 7% after the maker of heavy-lifting equipment confirmed that it recently approached Enodis, a British food and beverage equipment maker, about acquiring the company. Enodis rejected the proposal, Manitowoc said. "The company is disappointed that Enodis has rejected its indicative proposal," Manitowoc said in a press release. "Manitowoc remains committed to identifying and pursuing strategic acquisition opportunities that will enhance its global business enterprise." The company said it will continue to weigh its options with regard to Enodis.

Enodis, for its part, said that its board rejected the proposal because "it undervalued the company and its prospects." Shares of Manitowoc recently were trading down $2.94 to $37.72.

Shares of

Royal Caribbean

(RCL) - Get Report

slipped 4% after the cruise-ship operator priced $900 million in senior notes. The company priced $550 million of its 7% senior notes due 2013 at 99.509%. It sold $350 million of its 7.25% senior notes due 2016 at 99.69%. The offering is expected to close on June 12. Royal Caribbean plans to use the proceeds from the offering for general purposes. Shares were trading down $1.51 to $35.92.

NYSE

volume leaders included

Lucent Technologies

(LU)

, down 6 cents to $2.42;

Advanced Micro Devices

(AMD) - Get Report

, down $1.45 to $26.55;

Corning

(GLW) - Get Report

, down 60 cents to $21.35;

Pfizer

(PFE) - Get Report

, down 36 cents to $23.55;

Nortel Networks

(NT)

, down 10 cents to $2.07;

EMC

(EMC)

, down 4 cents to $12.08; and

Nokia

(NOK) - Get Report

, down 51 cents to $20.01.

Nasdaq volume leaders included

Level 3 Communications

(LVLT)

, down 10 cents to $4.45;

Intel

(INTC) - Get Report

, down 30 cents to $17.09;

JDSU

(JDSU)

, down 23 cents to $2.68;

Microsoft

(MSFT) - Get Report

, up 2 cents to $22.06;

Finisar

(FNSR) - Get Report

, down $1.21 to $3.26;

Oracle

(ORCL) - Get Report

, down 18 cents to $13.36;

Cisco Systems

(CSCO) - Get Report

, down 21 cents to $19.70; and

Apple Computer

(AAPL) - Get Report

, down $1.31 to $57.25.