Updated from 11:23 a.m. EDTShares of Multimedia Games ( MGAM) were among the Nasdaq's losers Friday after the company warned that fourth-quarter numbers won't meet Wall Street expectations. The maker of casino games now expects earnings of 22 cents to 24 cents a share on sales of $139.1 million. Previously, the company expected earnings of 37 cents to 42 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 36 cents a share on sales of $147.9 million. Multimedia Games said that lower-than-expected sales of its player terminals led to the shortfall. Shares traded down $2.37, or 16.5%, to $11.98. Bob Evans Farms ( BOBE) fell 6.6% after the company warned that second-quarter earnings would fall short of expectations. The restaurant operator expects earnings of 25 cents to 30 cents a share, which is below analysts' forecast of 40 cents a share. The company said that recently launched customer satisfaction initiatives led to higher food and labor costs during the quarter. Bob Evans plans to release second-quarter earnings results on Nov. 15. Shares traded down $1.70 to $24.26. Shares of NSD Bancorp ( NSDB) rose 52% after the company agreed to be acquired by FNB ( FNB) for about $135.8 million in stock. NSD shareholders will receive 1.8 shares of FNB in a stock swap that is worth about $39 a share. The price represents a premium of about 62% to Thursday's closing price of $24.15. The deal, which is expected to close during the first quarter of 2005, will be accretive to FNB's earnings during 2005. Shares of NSD traded up $12.55 to $36.70. Shares of FNB traded down 48 cents to $21.19. EMC Insurance ( EMCI) fell 11.4% after the company announced it would sell 3.8 million shares of its stock at $18.75 a share in a secondary offering. The company will sell 2 million shares in the offering and a selling shareholder, Employers Mutual Casualty, will sell 1.8 million shares. The offering price represents an 11.4% discount to Thursday's closing price of $21.16. Shares traded down $2.41 to $18.75.
Shares of Navigant International ( FLYR) fell 21.6% after the company cut its third- and fourth-quarter earnings guidance. The travel management company now expects third-quarter earnings of 28 cents to 30 cents a share, down from its previous estimate of 47 cents a share. For the fourth quarter, it now expects earnings of 16 cents to 18 cents a share, down from its previous guidance of 22 cents. Analysts had been expecting third-quarter earnings of 47 cents a share and fourth-quarter earnings of 23 cents a share. The company said that earnings results were affected by the impact of reductions of commissions in Europe, customer contract renegotiations and -- among other things -- the deferral of certain meeting and incentive revenue. Shares traded down $3.62 to $13.15. Marsh & McLennan ( MMC) fell 16.2% after the New York attorney general's office sued the company, alleging that it ran an insurance kickback scheme. Marsh & McLennan said it is cooperating with the attorney general and that it is committed to "getting all of the facts, determining any incidence of improper behavior, and dealing appropriately with any wrongdoing." Shares traded down $5.65 to $29.20. NYSE volume leaders included Pfizer ( PFE), down 58 cents to $28.50; American International Group ( AIG), down $2.15 to $57.85; Lucent ( LU), up 2 cents to $3.50; Nokia ( NOK), up 52 cents to $14.72; and Maxtor ( MXO), down 94 cents to $4.44. Nasdaq volume leaders included Sun Microsystems ( SUNW), unchanged at $3.97; Intel ( INTC), up 10 cents to $20.61; La Jolla Pharmaceuticals ( LJPC), down $1.67 to $1.09; Sirius Satellite Radio ( SIRI), up 5 cents to $3.70; Microsoft ( MSFT), up 19 cents to $27.99; Netflix ( NFLX), down $7.13 to $10.30; and Cisco ( CSCO), down 11 cents to $18.48.