Shares of

Ceradyne

( CRDN) were among the

Nasdaq's

winners Wednesday, rising 8% after the body-armor maker estimated first-quarter results above Wall Street's forecast.

The company expects to report earnings of 88 cents to 90 cents a share and revenue of $134 million to $136 million. Analysts polled by Thomson First Call project earnings of 73 cents a share on revenue of $132.3 million. During the year-ago quarter, the company earned 24 cents a share on revenue of $69.8 million. "We continue to believe that the lightweight ceramic body armor business will remain firm through 2007 and into 2008," the company said. The company plans to issue its full first-quarter results on April 27. Shares were trading up $3.61 to $50.80.

Harley-Davidson

( HDI) fell 5% after the company posted in-line first-quarter results. The motorcycle maker reported earnings of $234.6 million, or 86 cents a share, up from $227.2 million, or 77 cents a share, a year earlier. Revenue rose to $1.29 billion from $1.24 billion. Both the top and bottom lines matched analysts' average forecast.

Looking ahead, the company said it continues to project 2006 wholesale motorcycle shipments of 348,000 to 352,000 units. "We believe that the prospects for retail growth remain strong and support a wholesale unit growth rate in the range of 5% to 9% annually and an annual EPS growth rate of 11% to 17%," Harley-Davidson said. Shares were down $2.66 to $50.31.

Shares of

Circuit City

(CC) - Get Report

rose 3% after the consumer electronics chain posted better-than-expected fourth-quarter results. The company earned $141.1 million, or 80 cents a share, for the quarter ended Feb. 28. Earnings from continuing operations, meanwhile, were $146.6 million, or 84 cents a share, 7 cents above Wall Street's expectation. Revenue totaled $3.91 billion, above analysts' forecast of $3.89 billion, while same-store sales increased 11.6%. During the year-earlier quarter, the company earned $85.4 million, or 45 cents a share, on revenue of $3.47 billion.

Circuit City said it expects continued sales momentum, especially during the first half of its fiscal year. Shares were trading up 76 cents to $25.37.

Callaway Golf

(ELY) - Get Report

fell 8% after the golf-equipment company warned that first-quarter results would miss expectations. The company sees earnings, excluding items, of 34 cents to 36 cents a share. Analysts project earnings of 38 cents a share. The company estimates first-quarter revenue of about $300 million, shy of Wall Street's prediction of $330 million. During the year-earlier period, the company posted pro forma earnings of 30 cents a share and revenue of $300 million. Shares were trading down $1.30 to $15.60.

Shares of

John H. Harland

( JH) jumped 12% after the check printer lifted its first-quarter and full-year earnings projections. The company now sees earnings of 75 cents to 78 cents a share, up from an earlier view of 60 cents to 65 cents a share. Analysts project earnings of 64 cents a share. The company said the raised forecast reflects a better-than-expected performance in each of its three business segments.

For the full year, John H. Harland now anticipates earnings of $2.90 to $2.95 a share, up from previous guidance of $2.73 to $2.78 a share. Analysts project earnings per share of $2.77. Shares recently were up $4.96 to $44.22.

NYSE

volume leaders included

Ford

(F) - Get Report

, up 11 cents to $7.28;

Lucent Technologies

( LU), down 1 cent to $2.98;

Micron Technology

(MU) - Get Report

, up 43 cents to $15.53;

Motorola

( MOT), up 27 cents to $23.84;

Nortel Networks

( NT), up 2 cents to $2.85;

Advanced Micro Devices

(AMD) - Get Report

, up 98 cents to $35.33;

General Electric

(GE) - Get Report

, up 24 cents to $34.29;

Pfizer

(PFE) - Get Report

, up 11 cents to $24.46; and

Bausch & Lomb

( BOL), down $1.87 to $47.02.

Nasdaq volume leaders included

Sun Microsystems

(SUNW) - Get Report

, down 4 cents to $4.97;

JDSU

(JDSU)

, up 1 cent to 3.60;

Ciena

(CIEN) - Get Report

, up 3 cents to $4.23;

Intel

(INTC) - Get Report

, up 3 cents to $19.19;

Cisco

(CSCO) - Get Report

, up 8 cents to $21.11;

Microsoft

(MSFT) - Get Report

, down 8 cents to $27.05;

Oracle

(ORCL) - Get Report

, down 1 cent to $13.83;

Apple Computer

(AAPL) - Get Report

, down 45 cents to $67.54;

Sirius Satellite Radio

(SIRI) - Get Report

, down 6 cents to $5.14; and

Conexant

(CNXT) - Get Report

, up 16 cents to $3.48.