Tuesday's Winners & Losers: Pentair

The maker of pool and spa equipment cuts its forecasts for the rest of the year.
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Shares of

Pentair

(PNR) - Get Report

were among the

NYSE's

losers Tuesday, sliding 8% after the maker of pool and spa equipment cut its earnings guidance for the rest of the year.

The company now anticipates third-quarter earnings of 30 cents to 32 cents a share, including a charge of 11 cents a share related to severance costs and an increase in reserves. Pentair's previous guidance was for earnings of 46 cents to 50 cents a share. Analysts polled by Thomson First Call project earnings of 48 cents a share. For the fourth quarter, the company now sees earnings of 33 cents to 35 cents a share, down from an earlier view of 53 cents to 59 cents a share. Analysts expect earnings of 51 cents a share.

"The revision reflects the impacts of the soft pool equipment market and resulting distributor inventory adjustments, as pool equipment customers draw down existing inventories, on the performance of the company's pool and spa business," Pentair said. Shares were trading down $2.19 to $26.90.

Shares of

Career Education

(CECO) - Get Report

shot up 11% after the for-profit education provider replaced its CEO. John Larson, a co-founder of the company, stepped down as president and chief executive but will continue to serve as chairman. Director Robert Dowdell will serve as interim CEO. Separately, UBS upgraded the company's stock to neutral from reduce. Shares were up $2.38 to $23.53.

Lowe's

(LOW) - Get Report

rose even after the home-improvement company said it expects full-year earnings to be near the low end of its previous guidance. Last month, the company issued full-year earnings guidance of $2 to $2.07 a share. Analysts project earnings of $2.01 a share. "We remain focused on strategies to drive market share, however near term pressures on the U.S. consumer have led to a more cautious outlook for the second half of the year," the company said ahead of its annual investor conference. Shares were up 41 cents to $29.25.

Shares of

Visteon

(VC) - Get Report

fell 2% after the auto parts supplier warned that its second-half results will miss expectations. The company now expects second-half product sales to be about 10% lower than first-half sales of $5.7 billion. In August, Visteon said that it would post full-year sales of $11 billion. Analysts project full-year sales of $11.28 billion. Visteon blamed the shortfall on reductions to second-half customer production levels, changing vehicle mix and other cost factors. Shares were off 14 cents to $8.31.

Reliance Steel and Aluminum

(RS) - Get Report

rose 9% after the metal processing services company boosted its third-quarter earnings projection. The company now sees earnings of $1.35 to $1.40 a share, up from an earlier view of $1.15 to $1.20 a share. Analysts, on average, forecast earnings of $1.24 a share. Reliance attributed the upbeat outlook to stronger-than-expected business conditions and a positive contribution from Yarde Metals, which Reliance recently acquired. The company plans to release its third-quarter results on Oct. 19. Shares were up $2.72 to $31.94.

Shares of

Avid Technology

(AVID) - Get Report

slumped 12% after the maker of digital-editing equipment said that third-quarter earnings would be at the lower end of its previous guidance. In July, Avid projected earnings of 35 cents to 49 cents a share. Analysts anticipate earnings of 49 cents a share. Avid said its audio business is having an "adverse impact" on its third-quarter results. Shares were trading down $5.47 to $38.40.

NYSE volume leaders included

Time Warner

(TWX)

, up 22 cents to $18.35;

Altria

(MO) - Get Report

, down $1.67 to $75.39;

Advanced Medical Optics

(EYE) - Get Report

, down $5.86 to $40.44;

General Electric

(GE) - Get Report

, up 4 cents to $34.93;

Ford

(F) - Get Report

, up 4 cents to $8.19;

Bank of America

(BAC) - Get Report

, up 4 cents to $53.01; and

Pfizer

(PFE) - Get Report

, down 5 cents to $28.30.

Among the

Nasdaq's

most actively traded stocks were

Intel

(INTC) - Get Report

, up 20 cents to $19.61;

Oracle

(ORCL) - Get Report

, down 2 cents at $17.95;

Microsoft

(MSFT) - Get Report

, up 20 cents to $27.15;

PMC-Sierra

(PMCS)

, down 47 cents to $6.08;

Cisco Systems

(CNXT) - Get Report

, down 18 cents to $23.05;

Apple Computer

(AAPL) - Get Report

, up 71 cents to $76.46; and

Yahoo!

(YHOO)

, down 30 cents to $24.99.