Updated from 11:47 a.m. ESTShares of Cablevision ( CVC) were among the NYSE's winners Friday, rising 13.2% after the company said that it sold its Rainbow DBS unit, which operates the money-losing Voom satellite business, to EchoStar Communications ( DISH) for $200 million in cash. As part of the deal, EchoStar will acquire Rainbow 1 satellite, plus receive FCC licenses to construct, launch and operate DBS services over 11 frequency channels. EchoStar will also acquire the contents and related assets at Rainbow DBS's ground facility in Black Hawk, S.D. As for Voom, Cablevision said that it would "continue to provide service to its current customers during a transition period." Shares of Cablevision traded up $3.36 to $28.84. ElkCorp ( ELK) rose 12.7% after the company posted second-quarter earnings and sales that easily outpaced estimates and said that third-quarter earnings would be ahead of expectations as well. The Dallas-based company, which manufacturers roofing and building products, earned $14.4 million, or 71 cents a share, on sales of $195 million. Analysts polled by Thomson First Call were expecting earnings of 60 cents a share on sales of $168.6 million. Increased shingle demand in most of the company's markets during the most recent period contributed to its solid results. Looking ahead, ElkCorp forecast third-quarter earnings of 62 cents to 67 cents a share, ahead of analysts' estimates of 55 cents a share. Shares traded up $4.20 to $37.20. Shares of LaBranche ( LAB) rose 18.1% after the company's fourth-quarter earnings and sales beat Wall Street expectations. The company posted pro forma earnings of 15 cents a share on sales of $83.8 million. Analysts were expecting earnings of 6 cents a share on sales of $67.6 million. A year ago the company earned 7 cents on a pro forma basis. Shares traded up $1.52 to $9.90.
NBTY ( NTY) rose 3.5% after the nutritional supplements company posted a first-quarter profit that was ahead of expectations. The company earned $30 million, or 43 cents a share, on sales of $420.3 million. Analysts were expecting earnings of 33 cents a share on sales of $411.4 million. A year ago NBTY earned $24 million, or 34 cents a share, on sales of $385.1 million. Shares traded up 87 cents to $26.11. Shares of Weyerhaeuser ( WY) fell 3.1% after the company's fourth-quarter earnings fell short of expectations and the company warned that bad weather could affect first-quarter results. Excluding items, the forest products company earned $1.07 a share on sales of $5.89 billion. Analysts were expecting earnings of $1.15 a share on sales of $5.45 billion. A year ago the company earned 47 cents a share on sales of $5.15 billion. Fourth-quarter results were hurt by higher-than-expected costs that were due in part to weather-related issues. "As we look to the first quarter, we are concerned about the impact unusually bad weather may have on our results," the company said. Shares traded down $2.01 to $63.19. NYSE volume leaders included Lucent ( LU), down 1 cent to $3.27; Pfizer ( PFE), down 50 cents to $24.48; General Electric ( GE), down 24 cents to $35.13; Nortel ( NT), up 4 cents to $3.16; Citigroup ( C), up 16 cents to $47.93; and Nokia ( NOK), up 4 cents to $14.14. Nasdaq volume leaders included Sirius Satellite Radio ( SIRI), up 29 cents to $5.83; Intel ( INTC), down 16 cents to $22.42; Microsoft ( MSFT), down 21 cents to $25.65; Applied Materials ( AMAT), down 32 cents to $15.59; Cisco ( CSCO), down 31 cents to $18.01; Sun Microsystems ( SUNW), down 7 cents to $4.17; and eBay ( EBAY), up $2.72 to $86.05.