Skip to main content

Wednesday's Winners & Losers: Sirva

Shares sink after the relocation company slashes guidance.

Updated from 11:55 a.m. EST

Shares of


(SIR) - Get Select Income REIT Report

were among the


losers Wednesday, sliding 15% after the relocation company slashed its 2006 earnings outlook.

The company expects pretax earnings of $45 million to $55 million, down significantly from its earlier view of $65 million to $80 million. Sirva said the weak U.S. real estate market has resulted in higher-than-expected levels of home inventory, as well as losses on homes sold out of inventory. The company expects these trends to hurt earnings within its global relocation business by approximately $15 million. Shares of Sirva were trading down 56 cents to $3.16.



fell 7% after the candle maker's third-quarter results missed Wall Street estimates. The company reported a loss of $221,000, or less than a penny a share. Excluding certain items, Blyth earned $5.2 million, or 13 cents a share. Analysts polled by Thomson First Call expected a profit of 33 cents a share on this basis. Blyth recorded revenue of $297.9 million, short of analysts' forecast of $316.3 million. A year earlier, the company posted adjusted earnings of $11.4 million, or 27 cents a share, on revenue of $328.5 million.

For fiscal 2007, Blyth projected adjusted earnings of $1.20 to $1.25 a share. The single analyst estimate calls for earnings of $1.33 a share. For fiscal 2008, the company sees adjusted earnings of $1.35 to $1.40 a share. Three analysts have an average forecast for a profit of $1.44 a share. Shares were down $1.85 to $23.06.

International Coal


shares surged on speculation that the company may be bought out, but the company refuted the rumor. In a statement, International Coal said that it became aware of a newswire report of rumors of a management leveraged buyout, and it denies those rumors. Shares, which had climbed as much as 14%, recently were up 27 cents, or 5%, to $5.29.

Shares of

Scroll to Continue

TheStreet Recommends

R.H. Donnelley


fell 4% after the yellow-pages company gave a 2007 sales guidance that was slightly below expectations. The company expects sales of about $2.67 billion, compared with analysts' forecast of $2.69 billion. R.H. Donnelley forecast free cash flow of $615 million. The company also predicts earnings before interest, taxes, depreciation and amortization of $1.44 billion, before stock-option costs. Shares were trading down $2.29 to $61.76.

Panera Bread


shares sank 4% after the restaurant company cut its earnings forecast. The company said that last week's storms in the Midwest, where over 40% of its stores are located, will hurt its December same-store sales by 1% or more. The company now sees fourth-quarter earnings of 62 cents to 65 cents a share, down from a prior forecast of 67 cents to 68 cents. Wall Street expects earnings of 66 cents.

As a result of the weaker fourth-quarter numbers, Panera cut its full-year earnings projection to $1.87 to $1.90 a share. Previously, the company predicted earnings of $1.92 to $1.93 a share. The stock recently was losing $2.30 to $56.49.

Vornado Realty Trust

(VNO) - Get Vornado Realty Trust Report

fell 3% after the company priced a public stock offering of 8.1 million shares. The company expects net proceeds of about $1 billion. Vornado also granted underwriters a 30-day option to buy an additional 1.2 million shares to cover over-allotments. Shares were down $3.64 to $125.20.

Shares of

Barnes & Noble

(BKS) - Get Barnes & Noble, Inc. Report

rose 5% after Credit Suisse upgraded shares to outperform from underperform. The firm said the bookseller is well positioned to get acquired through a leveraged buyout. Shares were trading up $1.88 to $41.87.

NYSE volume leaders included


(F) - Get Ford Motor Company Report

, down 12 cents to $7.56;


(PFE) - Get Pfizer Inc. Report

, up 1 cent to $24.83;

Boston Scientific

(BSX) - Get Boston Scientific Corporation Report

, up 43 cents to $16.99;

Exxon Mobil

(XOM) - Get Exxon Mobil Corporation Report

, down 54 cents to $77.52;



, up 5 cents to $13.59;

General Electric

(GE) - Get General Electric Company Report

, up 12 cents to $35.39;



, down 14 cents to $7.64;


(GLW) - Get Corning Incorporated Report

, up 28 cents to $22.22; and


(T) - Get AT&T Inc. Report

, down 9 cents to $34.59.


volume leaders included


(ORCL) - Get Oracle Corporation Report

, down 88 cents to $17.98;

Charter Communications

(CHTR) - Get Charter Communications Inc. Report

, up 18 cents to $3.27;

Sun Microsystems

(SUNW) - Get Sunworks Inc. Report

, up 2 cents to $5.51;


(INTC) - Get Intel Corporation Report

, down 13 cents to $20.99;


(MSFT) - Get Microsoft Corporation Report

, down 5 cents to $29.08;



, down 46 cents to $26.97;

Sirius Satellite Radio

(SIRI) - Get Sirius XM Holdings Inc. Report

, up 1 cent to $3.86;

Cisco Systems

(CSCO) - Get Cisco Systems Inc. Report

, up 5 cents to $27.09; and



, down 37 cents to $5.96.