Shares of Diebold ( DBD) traded lower after the company announced that it will realign manufacturing operations in North America and close its plant in Danville, Va. Production at the plant will be phased out by the end of the third quarter. The company said the closure is part of the company's ongoing plan to maximize utilization of its facilities and become more cost competitive. Closing the plant will affect 110 employees and result in a charge of 2 cents a share in the second quarter, and a charge of a penny a share in the third quarter. Diebold forecasts full-year restructuring charges of about 12 cents a share, compared with its previously disclosed full-year restructuring charges of 9 cents to 12 cents a share. The stock was down 33 cents, or 0.7%, to $49.96. Shares of the fashion company Polo Ralph Lauren ( RL) rose 5.6% after the company reported earnings of $23.4 million, or 22 cents to a share, for the fourth quarter ended April 2, vs. $76.4 million, or 75 cents a share, a year ago. Revenue for the fourth quarter increased 10% to $902.2 million. Excluding charges, the company earned $85.1 million, or 81 cents a share. Analysts expected 80 cents a share, according to Thomson First Call. For the first quarter, the company said it expects revenue growth of more than 20% over last year's period. Polo still expects 2006 earnings to be $2.75 to $2.85 a share, in line with Wall Street's forecast. The stock was up $2.24 to $42.80. Superior Industries International ( SUP), which supplies aluminum wheels and other automotive components, cut its earnings guidance for the second quarter ended June 30. The company said it expects earnings of 15 cents to 17 cents a share, compared with Wall Street's forecast of 22 cents a share. Superior said customer orders have continued to decline for the quarter, reducing plant utilization, work schedules, and gross margin by more than previously anticipated. The stock was down 43 cents, or 1.83%, to $23.03.
Marine Products ( MPX) announced that it has completed the application to list its common stock for trading on the New York Stock Exchange, and that the NYSE has accepted the application. The company expects that June 24 will be its first day of trading on the NYSE. Marine Products manufacturers fiberglass boats, including Chaparral pleasure boats and Robalo sport fishing boats. The company went public in February 2001, after it was spun off from its former parent company RPC Inc. ( RES). Marine Products was trading up 42 cents, or 3.05%, to $14.20. Linens 'n Things ( LIN) traded down 1.8% after the company announced it now expects a loss of 11 cents to 15 cents a share for the second quarter ended July 2, down from its previous earnings forecast of 3 cents to 9 cents a share. The company also said comparable net sales for the quarter are expected to decline in the mid-to-high single digit range. "Although we had expected to experience some weakness in traffic during the first half of fiscal 2005, the magnitude and timing of product transitions resulted in a greater impact on guest traffic than we had initially anticipated," said Norman Axelrod, chairman and chief executive. The stock was down 42 cents to $23.13. NYSE volume leaders included Nortel Networks ( NT), down 22 cents to $2.59; General Motors ( GM), up $2.76 to $34.57; Elan ( ELN), down 9 cents to $7.28; and Lucent Technologies ( LU), up a penny to $2.86. Nasdaq volume leaders included Intel ( INTC), down 61 cents to $27.09; JDS Uniphase ( JDSU), down 3 cents to $1.53; Oracle ( ORCL), up 4 cents to $12.71; and Microsoft ( MSFT), down 8 cents to $25.43.