Shares of InFocus ( INFS) were among the Nasdaq's losers Monday, falling 14.2% after the company cut its first-quarter sales outlook and warned that it would post a loss during the quarter. Excluding items, the maker of video projectors expects a first-quarter loss of $17 million to $19 million, or 19 cents to 24 cents a share. Analysts polled by Thomson First Call had been expecting a profit of 4 cents a share. InFocus also said that it would post sales of $136 million to $138 million, down from its previous guidance of $150 million to $160 million. Analysts had been expecting sales of $152.5 million. InFocus said that excess inventory across the industry, coupled with a competitive price environment, led to lower sales and margins in all three of its geographic regions. Shares traded down 78 cents to $4.70. Matrix Service ( MTRX) fell 5.4% after the company posted a third-quarter loss and announced a restructuring plan. The industrial services company posted a loss of $35.5 million, or $2.05 a share, on sales of $111.4 million. Results included pretax charges of $38 million, or $1.96 a share. Analysts were expecting a profit of 7 cents a share on sales of $108.6 million. The company said that its restructuring plan, which began in March, could include job cuts and changes to its business plan that include the consolidation or closure of certain facilities or business lines. Looking ahead, Matrix said that it would not provide financial guidance for the rest of the year, citing the ongoing restructuring plans. Shares traded down 22 cents to $3.84. Shares of CNF ( CNF) rose 5.8% after the transportation company raised its first-quarter earnings forecast. The company now expects earnings of 66 cents to 69 cents a share, up from earlier guidance of 57 cents to 65 cents a share. Analysts had been expecting earnings of 61 cents a share. CNF attributed the better outlook to strong earnings at its Con-Way less-than-truckload carrier. The company also said that Menlo Worldwide supply chain management earnings would be higher than a year ago. CNF plans to post first-quarter earnings on April 20. Shares traded up $2.44 to $44.46.