Updated from 11:44 a.m. EDTShares of Corinthian Colleges ( COCO) were among the Nasdaq's winners Monday, rising 10.2% after the Securities and Exchange Commission ended its informal inquiry of the company and recommended no enforcement action. In September, Corinthian Colleges said the SEC was probing the company's "projections, financial performance and communications with securities analysts and investors" during the fiscal year ended June 30 and the subsequent quarter. Shares of Corinthian traded up $1.74 to $18.84. Tommy Hilfiger ( TOM) rose 4.7% after the company said that it would cut 200 jobs in its U.S. wholesale business and close its young men's jeans division. The job cuts represent about 20% of the company's U.S. salaried positions. The restructuring of its wholesale business is expected to result in annual cost savings of about $40 million beginning in the fiscal year that ends March 31, 2006. Tommy Hilfiger said the reorganization and job cuts "are necessary to better align our U.S. wholesale operating costs with the current volume of the business." Shares traded up 49 cents to $10.89. Shares of Eaton ( ETN) traded actively after the company posted fourth-quarter earnings and sales that topped expectations and forecast in-line first-quarter results. Excluding items, the maker of automotive and truck parts posted a profit of $1.23 a share on sales of $2.63 billion. Analysts polled by Thomson First Call were expecting earnings of $1.13 a share on sales of $2.54 billion. Looking ahead, Eaton forecast earnings of $1.15 to $1.25 a share. The company also raised its quarterly dividend payment to 31 cents a share from 27 cents a share. Finally, Eaton launched a $250 million stock buyback program in an effort to offset stock dilution from the shares it issued in 2004 as a result of the exercise of stock options. Shares traded down 60 cents to $64.80 on volume of 2.7 million shares -- more than three times its daily average.
PetMed Express ( PETS) rose 4.3% after the company turned in third-quarter results that easily beat expectations. The pet pharmacy company earned 8 cents a share on sales of $20.8 million. Analysts were expecting earnings of 5 cents a share on sales of $19.3 million. Reorder sales jumped 27% to $14.5 million from $11.4 million a year ago, and the company acquired about 85,000 new customers during the quarter, it said. What's more, about 53% of all orders came from the company's Web site. Shares traded up 29 cents to $7.10. Shares of Legg Mason ( LM) rose 6.1% after the financial services company posted third-quarter earnings that topped expectations. Legg Mason earned $112.7 million, or 98 cents a share, on sales of $636.8 million. Analysts were expecting earnings of 87 cents a share on sales of $592.2 million. A year ago the company earned $80.8 million, or 71 cents a share, on sales of $506.4 million. The company's asset management group accounted for 57% of net sales during the quarter and 68% of pretax earnings. Shares traded up $4.30 to $75. NYSE volume leaders included Lucent ( LU), down 6 cents to $3.21; Pfizer ( PFE), down 22 cents to $24.26; General Electric ( GE), up 13 cents to $35.26; Nortel ( NT), down 6 cents to $3.10; Motorola ( MOT), down 34 cents to $15.29; and Nokia ( NOK), down 22 cents to $13.92. Nasdaq volume leaders included Intel ( INTC), down 43 cents to $21.99; Sirius Satellite Radio ( SIRI), up 26 cents to $6.09; Cisco ( CSCO), down 26 cents to $17.75; Microsoft ( MSFT), up 2 cents to $25.67; Sun Microsystems ( SUNW), down 8 cents to $4.09; and Applied Materials ( AMAT), down 42 cents to $15.17.