Tuesday's Winners & Losers: Ruth's Chris

Shares climb on news the steakhouse operator will replace New Century in the S&P SmallCap 600.
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Shares of

ABM Industries

(ABM) - Get Report

were among the

NYSE's

winners Tuesday, rising 4% after the facility services company posted better-than-expected first-quarter earnings.

The company earned $8.7 million, or 18 cents a share, on revenue of $703.5 million. The results included a 1-cent gain related to a reversal of the company's self-insurance reserves. That was partially offset by stock-based compensation costs and a litigation-related contingent loss provision. Analysts polled by Thomson First Call expected earnings of 15 cents a share. A year earlier, ABM earned $4 million, or 8 cents a share, on revenue of $666.6 million.

Looking ahead, ABM forecast second-quarter earnings of 28 cents to 32 cents a share. The guidance includes a pretax gain of about $5 million and a charge of $1.9 million. Analysts, on average, project earnings of 24 cents a share. The stock was up $1.07 to $26.99.

Ruth's Chris

(RUTH) - Get Report

rose 7% after Standard & Poor's said it will add the steakhouse operator to its S&P SmallCap 600 index at the close of Wednesday's trading. The company will replace lender

New Century Financial

(NEW) - Get Report

, whose shares have plunged amid the ongoing problems in the subprime sector. New Century is no longer eligible for the index because of its market capitalization. Shares of Ruth's Chris were trading up $1.34 to $21.68.

Shares of New Century, meanwhile, were on the rise Tuesday, a day after the company lost nearly 69% of its value on news that the

Securities and Exchange Commission

is conducting a criminal probe related to stock and accounting errors. The stock was trading up $1.27, or 28%, to $5.83.

K&F Industries

(KFI)

jumped 10% after the braking equipment company agreed to be acquired by U.K.-based Meggitt for about $1.1 billion in cash. K&F shareholders will receive $27 a share, representing a premium of 10% over the stock's closing price of $24.50 on Monday. Including the assumption of debt, the deal is worth $1.8 billion. The acquisition is expected to close during the second quarter. Shares of K&F were surging $2.56 to $27.06.

Shares of

Iconix Brand

(ICON) - Get Report

fell 5% after the company posted in-line fourth-quarter earnings and said it agreed to acquire Rocawear for about $204 million in cash. The company, which licenses and markets consumer brands, reported fourth-quarter earnings of $8.9 million, or 18 cents a share, compared with $7.5 million, or 19 cents a share, a year earlier. Revenue jumped to $26.9 million from $12.4 million. Analysts expected earnings of 18 cents a share on revenue of $25.8 million.

Looking ahead, Iconix forecast 2007 earnings of 96 cents to $1 a share, with revenue of $150 million to $160 million. Analysts project earnings of 92 cents a share and revenue of $138.4 million. The guidance reflects the company's $204 million acquisition of Rocawear, which was founded by rapper Jay-Z. Shares of Iconix were down $1.09 to $20.06.

NYSE volume leaders included

Ford

(F) - Get Report

, down 6 cents to $7.52;

EMC

(EMC)

, down 4 cents to $13.35;

Pfizer

(PFE) - Get Report

, up 26 cents to $24.96;

General Electric

(GE) - Get Report

, up 10 cents to $34.65;

Citigroup

(C) - Get Report

, up 78 cents to $50.03;

Exxon Mobil

(XOM) - Get Report

, up 76 cents to $70.74;

Time Warner

(TWX)

, up 15 cents to $19.88;

Home Depot

(HD) - Get Report

, up 7 cents to $38.51; and

Johnson & Johnson

(JNJ) - Get Report

, down 10 cents to $61.73.

Nasdaq

volume leaders included

Sirius Satellite Radio

(SIRI) - Get Report

, up 6 cents to $3.43;

Intel

(INTC) - Get Report

, up 13 cents to $19.24;

Sun Microsystems

(SUNW) - Get Report

, up 11 cents to $6.18;

Microsoft

(MSFT) - Get Report

, up 18 cents to $27.73;

Cisco Systems

(CSCO) - Get Report

, up 46 cents to $25.92;

Oracle

(ORCL) - Get Report

, up 46 cents to $16.83;

Yahoo!

(YHOO)

, up 25 cents to $30.56;

Apple

(AAPL) - Get Report

, up $1.53 to $87.85; and

Level 3 Communications

(LVLT)

, up 5 cents to $6.15.