Publish date:

Wednesday's Winners & Losers: NutriSystem

Shares shed 29% after a downgrade.
Author:

Among the biggest losers was

NutriSystem

(NTRI) - Get Nutrisystem, Inc. Report

, a Horsham, Pa., weight management and fitness company. Shares shed 29% to $16.92 on a Broadpoint Capital downgrade to neutral from buy. Tuesday after the close, the company issued disappointing '08 forecast, estimating revenue between $690 million and $710 million. Analysts polled by Thomson Financial are looking for revenue of $825.3 million.

Shares of

Hewlett-Packard

(HPQ) - Get HP Inc. (HPQ) Report

soared $3.49, or 7.9%, to $47.44 after the company reported

strong earnings for the first quarter and guidance that sailed past Street estimates.

Revenue for the first quarter grew 13.5% to $28.5 billion topping estimates of $27.6 billion. Net income grew 40% to $2.1 billion, or EPS of 80 cents vs. 55 cents a share a year ago.

Excluding items, EPS was 86 cents, better than analysts' expectations of 81 cents a share. For the current quarter, HP guided revenue of $27.7 billion to $27.9 billion and adjusted EPS of 83 cents to 84 cents. Analysts were expecting revenue of $27.43 billion and EPS of 82 cents.

3Com

(COMS)

lost 86 cents, or 23.1%, to $2.87 after the company withdrew its application to a federal agency to be bought out by Bain Capital for $2.2 billion. The buyout, which would have given Chinese company

Huawei

TheStreet Recommends

a minority stake in 3Com, raised national security concerns.

Medical-device company

Xtent

(XTNT) - Get Xtant Medical Holdings, Inc. Report

also declined on its fourth-quarter report. The company posted a loss of $11.9 million, or 52 cents a share, based on 22.8 million weighted average shares outstanding. In the year-ago quarter the company had a loss of $7.2 million, or $2.46 a share, based on 2.9 million weighted average shares outstanding. Its stock gave up $1.40 to $8.11.

Lace Success, N.Y.-based

DealerTrack

(TRAK)

, meanwhile, lost 21% to $21.24 on fourth-quarter earnings. The provider of software, network and data solutions to the automotive retail industry posted income of $10.9 million, or a quarter a share, up from $9.3 million, or 23 cents a share, in the year-ago quarter. Excluding charges, the company guided for 2008 full-year EPS between $1.14 and $1.18, shy of analysts' forecast for $1.28.

One stock higher on earnings was

Cyberonics

(CYBX)

, which soared 17% after the device maker posted a narrower-than-expected quarterly loss and announcing plans to buy back up to 1 million shares. The company reported a loss of $1 million, or 4 cents a share, narrowed from a loss of $19.4 million, or 76 cents a share, a year earlier.

Analysts polled by Thomson Financial were expecting a loss of 9 cents a share. The company's sales declined, but a 12% cut in staff helped to push down operating expenses. Shares of Cyberonics rose $1.68 to $11.41.

This article was written by a staff member of TheStreet.com.