Stocks in Motion: Fair Isaac

Updated from 12:07 p.m. EDT

Shares of Fair Isaac ( FIC) were among the NYSE's laggards Tuesday after the company warned that third- and fourth-quarter results would fall short of expectations.

It now expects third-quarter earnings of 38 cents to 40 cents a share vs. its previous estimate of 40 cents to 43 cents a share. Sales are now expected to be between $173 million and $175 million, down from its earlier forecast of $185 million to $189 million. For the fourth quarter it now expects to report earnings of 25 cents to 27 cents a share vs. its previous expectations of 40 cents to 43 cents a share.

Sales for the fourth quarter, meanwhile, are now expected to be between $189 million and $195 million vs. previous expectations of between $205 million and $211 million. Fair Isaac said lower one-time software license fees caused the reduced expectations. Its shares traded down $7.36, or 23.5%, to $24.

Oakley ( OO) fell after it warned that a second-quarter earnings and sales shortfall would cause the company to report full-year earnings and sales at the low end of its previous guidance. Production weakness and launch delays will knock down second-quarter sales to $152 million. Analysts polled by Thomson First Call had expected it to report sales of $164.4 million.

As a result of the second-quarter weakness, the company now expects to report earnings of 60 cents to 65 cents vs. previous guidance of 65 cents a share for the year ended Dec. 31. Sales are now expected to be between $575 million and $585 million vs. previous guidance of $585 million. Analysts had expected Oakley to report full-year earnings of 67 cents a share on sales of $585.8 million. Shares of Oakley traded down 94 cents, or 7.5%, to $11.60.

Shares of Magna Entertainment ( MECA) rose after MI Developments ( MIM) said it would offer to acquire all of the outstanding shares of Magna Entertainment that it does not already own. MI Development would pay Magna shareholders $1.05 in cash and 0.2258 shares of MI Class A shares. Total consideration represents an offer price of $7 a share.

Separately, Magna announced that its HorseRacing TV television network reached a carriage agreement with EchoStar Communications ( DISH). Beginning July 15, HRTV will be available to EchoStar's 10 million DISH subscribers, a move that will immediately boost and expand HRTV's distribution in the U.S. Shares of Magna Entertainment traded up 72 cents, or 12.5%, to $6.48.

Tractor Supply ( TSCO) stumbled after it reported solid second-quarter financial results, but warned that third-quarter earnings and sales would fall short of expectations. During the second quarter it reported earnings of 75 cents a share on sales of $525.9 million. Analysts had expected it to earn 75 cents a share on sales of $516 million.

Looking ahead, however, it now expects to report earnings of 26 cents to 29 cents a share on sales of $390 million to $400 million. Analysts had expected it to earn 36 cents a share on sales of $403.8 million. Shares of Tractor Supply traded down 76 cents, or 1.9%, to $38.89.

Shares of Precision Castparts ( PCP) rose after the company reported blowout first-quarter earnings and sales. Precision earned 80 cents a share on sales of $738.8 million. Analysts expected it to earn 74 cents a share on sales of $700.6 million. The company cited market-share gains, strong aftermarket sales and growth in its industrial business for the strong quarterly results. Shares of Precision Castparts traded up $1.90, or 3.5%, to $56.

NYSE volume leaders included Lucent ( LU), up 13 cents to $3.51; Nortel Networks ( NT), up 53 cents to $4.76; General Electric ( GE), up 24 cents to $32.84; Dominos Pizza ( DPZ), down 50 cents to $13.50; and Merrill Lynch ( MER), down $1.67 to $49.80.

Nasdaq volume leaders included Intel ( INTC), down 10 cents to $26.14; Red Hat ( RHAT), down $4.62 to $15.73; Sirius Satellite Radio ( SIRI), down 11 cents to $2.60; Microsoft ( MSFT), down 29 cents to $27.60; Oracle ( ORCL), down 9 cents to $11; and Cisco ( CSCO), down 15 cents to $22.14.

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