Thursday's Winners & Losers: New Century Financial - TheStreet

Shares of

New Century Financial

(NEW) - Get Report

were among the

NYSE's

losers Thursday, plummeting 28% after the subprime lender warned of a fourth-quarter loss.

The news surprised Wall Street, which expected the company to post a profit of $1.06 a share, according to analysts polled by Thomson First Call. "The increasing industry trend of early-payment defaults and, consequently, loan repurchases intensified in the fourth quarter of 2006," the company said. "The company continued to observe this increased trend in its early-payment default experience in the fourth quarter, and the volume of repurchased loans and repurchase claims remain high."

New Century also said that it expects to record a fair value adjustment to its residual interests, reflecting revised prepayments, loan and discount rate assumptions. The company added that it plans to restate earnings for the first three quarters of 2006. "Specifically, the company did not include the expected discount upon disposition of loans when estimating allowance for loan repurchase losses," New Century said. The restatements will reduce earnings in each of the first three quarters. Shares were recently trading down $8.51 to $21.65.

Nautilus

(NLS) - Get Report

jumped 11% after the maker of fitness equipment posted better-than-expected fourth-quarter results. The company earned $12.9 million, or 41 cents a share, on revenue of $199.3 million. Analysts expected earnings of 38 cents a share on revenue of $199 million. During the year-earlier period, the company earned $2 million, or 6 cents a share, on revenue of $182 million.

Looking ahead, Nautilus sees first-quarter earnings of 18 cents to 21 cents a share on revenue of $185 million to $195 million. Analysts project earnings of 21 cents a share on revenue of $196.7 million. Shares were trading up $1.75 to $18.39.

Shares of

Carlisle

(CSL) - Get Report

climbed 11% after the diversified manufacturer announced a 2-for-1 stock split and posted fourth-quarter results that blew past Wall Street's forecast. The company posted earnings from continuing operations of $39.6 million, or $1.27 a share, on revenue of $611.5 million. Analysts expected earnings of $1.10 a share on revenue of $594.2 million. During the year-earlier quarter, the company earned $26.7 million, or 87 cents a share, on revenue of $533.4 million.

The company's stock split will be payable on March 19 to shareholders of record on March 7. The company said the split reflects "continued confidence in Carlisle's ability to grow its businesses and create shareholder value."

Looking ahead, Carlisle forecasts 2007 earnings from continuing operations of $6.35 to $6.50 a share. Analysts project earnings of $6.13 a share. Shares were trading up $8.79 to $92.53.

Spectrum Brands

( SPC) tumbled 16% after the consumer products company posted mixed first-quarter results. For the period ended Dec. 31, the company reported a loss of $18.8 million, or 38 cents a share, on revenue of $564.6 million. Excluding items, the company would have posted a profit of 12 cents a share. Analysts expected a profit of 8 cents a share on revenue of $640.3 million. During the year-earlier period, the company earned $2.3 million, or 5 cents a share, on revenue of $566.3 million.

"Our first-quarter results reflect progress in a number of areas, despite a challenging environment, and we are confident that we are taking the right actions for the long term to build our brands, reduce costs and create sustainable value," the company said. Spectrum, which is currently in the process of divesting its home and garden business, said that it is continuing to consider further strategic options, including more asset sales. Shares were trading down $1.89 to $9.71.

Shares of

Protective Life

(PL)

slid 7% after the insurance products company posted disappointing fourth-quarter earnings and warned that 2007 operating income would be lower than expected.

The company earned $85.2 million, or $1.19 a share. Excluding one-time investment gains, the company posted operating income of $65.4 million, or 91 cents a share. Analysts expected earnings of $1 a share. During the year-earlier quarter, the company posted operating income of $72.6 million, or $1.02 a share.

"Profit growth in our life insurance lines continues to be adversely affected by the pattern of earnings emergence under our capital markets securitization model and competitive forces," the company said. "In addition, investment income was adversely affected by the interest rate and credit spread environment."

Looking ahead, Protective Life sees 2007 operating income of $3.60 to $3.80 a share. Analysts project higher earnings of $4.28 a share. Shares were trading down $3.39 to $46.30.

NYSE volume leaders included

EMC

(EMC)

, up $1.15 to $14.75;

Qwest

(Q)

, down 2 cents to $8.23;

Ford

(F) - Get Report

, down 3 cents to $8.53;

Disney

(DIS) - Get Report

, up 5 cents to $35.53;

Equity Office Properties

( EOP), unchanged at $55.45;

Centerpoint Energy

(CNP) - Get Report

, up 17 cents to $17.97; and

Motorola

( MOT), down 27 cents to $19.84;

Nasdaq

volume leaders included

Level 3 Communications

(LVLT)

, down 21 cents to $6.36;

Cisco Systems

(CSCO) - Get Report

, down 10 cents to $27.99;

Microsoft

(MSFT) - Get Report

, down 7 cents to $29.30;

Sun Microsystems

(SUNW) - Get Report

, down 2 cents to $6.57;

Intel

(INTC) - Get Report

, down 25 cents to $21.26;

CMGI

( CMGI), up 13 cents to $1.37; and

Apple

(AAPL) - Get Report

, down 55 cents to $85.60.