Updated from 11:51 a.m. EDT AK Steel ( AKS) was among Tuesday's New York Stock Exchange winners after the steelmaker said it expects to report a second-quarter profit. AK Steel said stronger-than-expected shipments, improved pricing and continued cost reductions led to the better-than-expected forecast. It now expects to report an operating profit of $55 million in the second quarter vs. an operating profit of $1 million in the first quarter. Analysts polled by Thomson First Call had expected the company to post a loss of 10 cents a share. The second-quarter profit would snap a string of losses that had spanned eight consecutive quarters. Shares of AK Steel traded up 51 cents, or 9.8%, to $5.70. Shares of United Natural Foods ( UNFI) fell after the food distributor warned that its full-year profit for fiscal 2005 would fall short of expectations. Citing higher medical costs, United Natural said that it expected fiscal 2005 earnings of 93 cents to 97 cents a share on sales of $1.9 billion to $2 billion. Analysts polled by Thomson First Call had expected it to earn $1 a share on sales of $1.92 billion. Gross margins, the company said, are expected to be in the low- to mid-19% range. Shares of United Natural Foods traded down $1.93, or 6.9%, to $26.14. Enesco Group ( ENC) fell after it warned that its second-quarter profit and sales would fall short of last year's results. The company said shipping delays associated with a slower-than-expected implementation of its ERP, or business management technology system, hampered its results and led to the lackluster performance. Shares of Enesco Group traded down 75 cents, or 8.6%, to $8. Shares of Total Entertainment Restaurant ( TENT) fell after the company reported second-quarter earnings that were weaker than expected. Excluding an asset impairment charge, the company earned 10 cents a share on sales of $31.1 million. Analysts had expected it to earn 12 cents a share on sales of $30.9 million. A year ago Total Entertainment earned 12 cents a share on sales of $25.2 million. Shares of Total Entertainment Restaurant traded down $1.23, or 8.7%, to $12.86.
Mod-Pac ( MPAC) rose after the company announced that it will receive $22 million as part of a deal to surrender its exclusive rights under a supply agreement with VistaPrint. Mod-Pac will receive the $22 million on August 30 when the new supply agreement becomes operative. Mod-Pac will record the $22 million cash payment as deferred revenue and amortize it over 36 months. Shares of Mod-Pac traded up 24 cents, or 2.7%, to $9.24. NYSE volume leaders included Nortel Networks ( NT), down 7 cents to $4.49; Lucent ( LU), down 5 cents to $3.49; EMC ( EMC), down 66 cents to $10.16; Motorola ( MOT), down 92 cents to $16.85; and General Electric ( GE), up 16 cents to $31.83. Nasdaq volume leaders included Conexant Systems ( CNXT), down $1.77 to $2.31; Veritas Software ( VRTS), down $9.55 to $17; Microsoft ( MSFT), down 55 cents to $28.02; Sun Microsystems ( SUNW), down 31 cents to $3.88; Oracle ( ORCL), down 45 cents to $11.20; Intel ( INTC), down 22 cents to $26.11; and Cisco ( CSCO), down 58 cents to $22.37.