Shares of Parker Hannifin ( PH - Get Report) were among the NYSE's winners Monday, rising 3% after the company posted third-quarter earnings that were better than expected. The maker of industrial products posted earnings from operations of $142.2 million, or $1.18 a share, on sales of $2.14 billion. Results included a tax benefit of 10 cents a share and charges totalling 9 cents a share. Analysts polled by Thomson First Call were expecting earnings of $1.09 a share on sales of $2.09 billion. In late March the company lowered its third-quarter earnings target to $1.05 to $1.15 a share, citing a soft automotive market, slowdowns in the mobile markets of its international industrial segments and ongoing inventory reductions. Looking ahead, Parker Hannifin said it expects to earn $4.72 to $4.92 a share during 2005, which includes 47 cents a share from discontinued operations. Excluding discontinued operations, the company expects earnings of $4.25 to $4.45 a share. Analysts are expecting earnings of $4.27 a share on sales of $8.13 billion. Shares were trading up $1.49 to $58.61. Hasbro ( HAS - Get Report) fell 3% after the toymaker posted an unexpected first-quarter loss. The company lost $3.7 million, or 2 cents a share, on sales of $454.9 million. Analysts were expecting a profit of 4 cents a share on sales of $488 million. A year ago the company earned $6.5 million, or 3 cents a share, on sales of $474.2 million. Hasbro said first-quarter results were in line with its own expectations and that its business continues to be more weighted to the back half of the year. Shares were trading down 49 cents to $18.80. Shares of Electronics Boutique rose 37% after the seller of video game software and hardware agreed to be acquired by rival GameStop ( GME - Get Report) for $1.44 billion in cash and stock. Electronics Boutique shareholders will receive $38.15 in cash and 0.78795 shares of GameStop for each share of Electronics Boutique they own. The combination of cash and stock represents a price of $55.18 and 34% premium over Friday's closing prices. The deal is expected to be accretive to GameStop's earnings during the second half of 2005. Shares of Electronics Boutique were trading up $15.40 to $56.52 while shares of GameStop were trading up $3.75, or 17%, to $25.36.
Bluegreen ( BXG - Get Report) fell 2% after the company announced the resignation of its chief financial officer. The residential and resort operator said that John Chiste, whose resignation is effective April 15, left the company to pursue other interests. Anthony Puleo will serve as interim CFO until a permanent replacement is found. In early March Bluegreen lost a third of its value after the company posted fourth-quarter earnings and sales that missed expectations by a wide margin. The company said that higher costs at both of its operating segments contributed to the earnings miss. Shares were recently trading down 32 cents to $14.15. Shares of Children's Place ( PLCE - Get Report) fell 2% after the retailer announced the departure of its CFO. Hiten Patel will replace Seth Udasin, who resigned on April 15. The company said Udasin left the company so that he could pursue other interests. Shares were trading down 86 cents to $38.70. NYSE volume leaders included Lucent Technologies , unchanged at $2.40; General Electric ( GE - Get Report), up 27 cents to $36.02; Pfizer ( PFE - Get Report), down 36 cents to $27.35; Exxon Mobil ( XOM), up 32 cents to $56.51; and Ford ( F), down 13 cents to $9.37. Nasdaq volume leaders included Intel ( INTC), up 21 cents to $22.33; Sirius Satellite Radio ( SIRI), up 13 cents to $5.28; Microsoft ( MSFT), up 16 cents to $24.62; Apple Computer ( AAPL), down 7 cents to $35.28; Cisco ( CSCO), up 10 cents to $17.30; Oracle ( ORCL), up 20 cents to $11.90; Applied Materials ( AMAT), up 42 cents to $14.92; and Sun Microsystems ( SUNW), down 10 cents to $3.56.