were among the
losers Wednesday, falling 9% after the women's apparel retailer posted in-line third-quarter earnings but reiterated a fourth-quarter guidance that's slightly short of Wall Street's forecast.
For the third quarter, the company earned $15.9 million, or 17 cents a share, on revenue of $256.4 million. Analysts polled by Thomson First Call expected earnings of 17 cents a share on revenue of $245.5 million. During the year-earlier period, the company earned $10.5 million, or 11 cents a share, on revenue of $186.8 million.
Looking ahead, Coldwater continues to forecast fourth-quarter earnings of 26 cents to 27 cents a share and revenue of $335 million to $345 million. Analysts, meanwhile, project earnings of 28 cents a share and revenue of $362.9 million. Shares were trading down $2.81 to $28.14.
rose 9% after the shoe retailer posted higher third-quarter results and announced a shoe pact with sneaker giant
. For the third quarter, Payless earned $28.9 million, or 43 cents a share, on revenue of $703.4 million. Earnings from continuing operations were $30.6 million, or 46 cents a share. Analysts expected earnings of 44 cents a share and revenue of $693.5 million. In the year-earlier period, the company earned $21.9 million, or 32 cents a share, on revenue of $666.5 million.
Separately, Payless and Nike said they will launch a new brand of sneakers for women called "Tailwind." Nike's Exeter Brands division will design and produce the shoes, while Payless will serve as the exclusive retailer. The deal comes a day after Payless also announced a shoe-selling deal with
. Shares of the retailer were trading up $2.43 to $30.74.
rose 11% after the dental products company's second-quarter earnings exceeded expectations. For the period ended Oct. 28, the company earned $48.2 million, or 35 cents a share, up from $44.7 million, or 32 cents a share, a year earlier. Patterson's revenue rose to $694.3 million from $641.7 million. Analysts expected earnings of 34 cents a share and a top line of $699.6 million.
For the third quarter, Patterson projects third-quarter earnings of 43 cents to 45 cents a share. Analysts anticipate earnings of 43 cents a share. Shares were up $3.64 to $36.64.
climbed 3% after the meat processor reported better-than-expected fourth-quarter results and issued a solid first-quarter earnings guidance. For the period ended Oct. 29, the company earned $90 million, or 64 cents a share, on revenue of $1.56 billion. Analysts expected earnings of 63 cents a share and revenue of $1.55 billion. During the year-earlier period, the company earned $82.2 million, or 59 cents a share, on revenue of $1.48 billion.
Hormel predicts fiscal first-quarter earnings of 52 cents to 58 cents a share. Analysts, on average, target earnings of 51 cents a share. Shares recently were up $1.10 to $37.79.
J. Crew Group
( JCG) surged 13% after the apparel retailer posted better-than-expected third-quarter results and raised its full-year guidance. For the quarter ended Oct. 28, the company earned $26 million, or 40 cents a share, on revenue of $275.6 million. Excluding items, earnings were 27 cents a share. Analysts expected earnings of 21 cents a share, before items, on revenue of $264.2 million. A year earlier, the company reported income of $3 million and revenue of $223.4 million. On a per-share basis, J. Crew recorded a 1-cent loss last year due to preferred stock dividends.
Looking ahead, J. Crew now sees full-year earnings of 95 cents to 97 cents a share, up from an earlier view of 86 cents to 88 cents a share. Analysts project earnings of 89 cents a share. Shares were trading up $4.84 to $40.19.
shares jumped 10% after Kirk Kerkorian's Tracinda Corp. said it will launch a tender offer to boost its stake in the casino operator. Tracinda said it will pay $55 a share for 15 million MGM shares. The offer represents a 12% premium over the company's closing stock price of $49 on Tuesday. Tracinda currently owns 158.4 million MGM shares, equal to 56.3% of the outstanding stock. Following the tender, he would hold a 61.7% stake. Shares of MGM recently were up $5.14 to $54.14.
Speculation about Kerkorian and Tracinda weighed on shares of
. The stock was down 3% on heavy volume amid speculation that Kerkorian might sell his stake in the automaker given his new investment in MGM and the recent expiration of a 45-day window that prevented him from selling. Shares of GM recently were down $1.03 to $31.58.
volume leaders included
( LU), down 1 cent to $2.59;
, up 32 cents to $13.16;
, up 63 cents to $20.97;
( NT), up 2 cents to $2.13;
, down 6 cents to $7.56;
Advanced Micro Devices
, up 19 cents to $21.43;
, up $4.69 to $109.29; and
, down 5 cents to $8.51.
Nasdaq volume leaders included
, up $2.63 to $27.45;
, up 9 cents to $5.63;
, up 2 cents to $29.94;
, up 10 cents to $21.67;
Brocade Communications Systems
, up 66 cents to $9.15;
Sirius Satellite Radio
, up 5 cents to $4.02; and
, up 12 cents to $26.92.