Shares of Tempur-Pedic ( TPX - Get Report) were among the NYSE's losers Friday, falling 22% after the company posted second-quarter sales that fell below Wall Street expectations. The mattress maker earned $24.8 million, or 24 cents a share, on sales of $192.6 million. Excluding a stock-based compensation expense, the company would have earned $25.5 million, or 25 cents a share. Analysts polled by Thomson First Call were expecting earnings of 25 cents a share on sales of $196.3 million. A year ago the company earned $16.9 million, or 16 cents a share, on sales of $151.6 million. Looking ahead, Tempur-Pedic backed its 2005 pro forma earnings guidance of $1.10 to $1.13 a share on sales of $880 million to $890 million. Analysts are expecting earnings of $1.13 a share on sales of $894 million. Shares were trading down $5.13 to $18.62. Genesis Microchip ( GNSS) rose 28% after the company posted first-quarter results that blew away expectations and said that second-quarter sales would easily surpass forecasts. The integrated circuits company posted adjusted earnings of $4.7 million, or 13 cents a share, on sales of $59.8 million. Analysts were expecting earnings of 8 cents a share on sales of $55.6 million. "Genesis had an outstanding quarter characterized by improved financial results and significant design wins in both the LCD monitor and flat-panel TV markets," the company said. A year ago the company reported adjusted earnings of $1.7 million, or 5 cents a share, on sales of $52.8 million. Looking ahead, Genesis Microchip forecast second-quarter sales of $66 million to $71 million. Analysts had been expecting sales of $61.9 million. Shares were trading up $5.47 to $25.16. Shares of BEI Technologies ( BEIQ) rose 18% after the maker of electronic sensors agreed to be acquired by French company Schneider Electric for $35 a share in cash. Schneider will also assume about $29 million in debt, bringing the total value of the deal to $562 million. The deal represents a 20% premium to BEI's closing price of $29.25 on Thursday. Shareholders of BEI, holding about 20% of the outstanding stock, have agreed to tender their shares and otherwise support the transaction, BEI said. Shares of BEI were recently trading up $5.39 to $34.64.
Cummins ( CMI - Get Report) rose 1% after the maker of diesel engines posted second-quarter earnings that easily beat expectations. The company earned $141 million, or $2.83 a share, on sales of $2.49 billion. Analysts were expecting earnings of $2.40 a share on sales of $2.42 billion. A year ago the company earned $82 million, or $1.76 a share, on sales of $2.12 billion. Looking ahead, Cummins forecast third-quarter earnings of $2.40 to $2.50 a share, ahead of analysts' expectations of $2.31 a share. Shares were trading up $1.21 to $84.75. Shares of Compuware ( CPWR) rose 5% after the company reported first-quarter earnings that were better than expected. The software maker earned $24.6 million, or 6 cents a share, on sales of $297.3 million. Analysts were expecting earnings of 4 cents a share on sales of $291.6 million. A year ago the company earned $644,000, or break-even, on sales of $287.1 million. Shares were trading up 40 cents to $8.07. NYSE volume leaders included Lucent Technologies ( LU), down 5 cents to $2.85; Haliburton ( HAL), up $3.68 to $52.38; Pfizer ( PFE), up 1 cent to $26.60; EMC ( EMC), up 31 cents to $14.40; Nokia ( NOK), down 11 cents to $15.67; Motorola ( MOT), down 38 cents to $19.30; IMS Health ( RX), down 38 cents to $27.28; Exxon Mobil ( XOM), up 63 cents to $58.52; and General Electric ( GE), down 6 cents to $34.94. Nasdaq volume leaders included Microsoft ( MSFT), down 64 cents to $25.80; Broadcom ( BRCM), up $4.34 to $42.95; Intel ( INTC), down 7 cents to $26.96; Cisco Systems ( CSCO), down 22 cents to $19.34; eBay ( EBAY), down 93 cents to $41.17; SanDisk ( SNDK), up $3.17 to $31.39; Oracle ( ORCL), up 2 cents to $13.74; Yahoo! ( YHOO), up 37 cents to $33.31; Google ( GOOG), down $9.87 to $304.07; Sun Microsystems ( SUNW), up 1 cent to $3.86; Amgen ( AMGN), down $1.98 to $79.97; and Qualcomm ( QCOM), down 20 cents to $38.81.