Shares of Homestore ( HOMS) were among the Nasdaq's winners Friday, rising 39% after the online real estate company posted second-quarter results that were better than Wall Street expectations. The company reported earnings of $3.3 million, or 2 cents a share, on sales of $63.3 million. Results included a legal expense of $4.2 million and a $1.4 million reduction of previous restructuring charges. Analysts polled by Thomson First Call were expecting a loss of 2 cents a share on sales of $58.6 million. A year ago, the company posted a loss of $4.3 million, or 3 cents a share, on sales of $54.3 million. Year-ago results included a $2.2 million litigation settlement expense. Shares were trading up 99 cents to $3.55. Design Within Reach ( DWRI) fell 22% after the company previewed second-quarter earnings that fell below expectations and lowered its 2005 earnings outlook. The design furnishings and accessories company reported preliminary earnings of $1.4 million, or 9 cents a share, on sales of $41.9 million. Analysts were expecting earnings of 10 cents a share on sales of $39 million. A year ago, the company earned $806,000, or 7 cents a share, on sales of $28.2 million. Looking ahead, Design Within Reach now expects 2005 earnings of 40 cents to 42 cents a share, which is well below its previous guidance of 51 cents a share. Guidance "reflects the company's decision to minimize the use of promotional activity to offset product and shipping margin pressures and additional Sarbanes-Oxley compliance expenses," the company said. As for the sales, the company remains comfortable with guidance of $160 million to $165 million. Analysts had been expecting earnings of 51 cents a share on sales of $167.5 million. Shares were trading down $3.78 to $13.41. Shares of Provide Commerce ( PRVD) rose 21% after the e-commerce marketplace operator previewed fourth-quarter results that topped expectations. The company expects earnings of $4.6 million to $5 million, or 33 cents to 36 cents a share, on sales of $66 million. On a pro forma basis, the company expects earnings of 36 cents to 39 cents a share. Analysts are expecting earnings of 33 cents a share on sales of $63.4 million. Provide will issue fourth-quarter results on Aug. 17. Shares were trading up $4.61 to $26.95.
Cedar Shopping Centers ( CDR) rose 14% after the company said it received an unsolicited bid from Equity One ( EQY) worth $17 a share in cash. The company said that it would review Equity One's proposal and respond thereafter. Cedar Shopping Centers, a self-managed real estate investment trust, owns and operates 58 community supermarket- and drugstore-anchored shopping centers located mostly in the northeastern part of the U.S. Shares of Cedar were recently trading up $2.08 to $17 while shares of Equity One were trading down $1.53 to $22.94. Shares of National Oilwell Varco ( NOV) rose 2% after the company reported second-quarter results that were better than forecasts. The maker of oil and gas drilling equipment reported earnings of $61.2 million, or 35 cents a share, on sales of $1.22 billion. Excluding items, the company would have earned 49 cents a share. Analysts were expecting earnings of 44 cents a share on sales of $1.15 billion. A year ago, the company earned $21.4 million, or 25 cents a share, on sales of $533.5 million. Shares were trading up $1.15 to $58.99. NYSE volume leaders included Taiwan Semiconductor ( TSM), down 5 cents to $8.60; Time Warner ( TWX), up 35 cents to $17.90; Delphi ( DPH), down 51 cents to $5.27; Pfizer ( PFE), down 33 cents to $26.27; Lucent Technologies ( LU), down 4 cents to $2.84; Chesapeake Energy ( CHK), up 60 cents to $28.90; General Electric ( GE), down 22 cents to $33.79; and Motorola ( MOT), down 43 cents to $21.57. Nasdaq volume leaders included Microsoft ( MSFT), up 18 cents to $27.50; Network Appliance ( NTAP), down 68 cents to $24.82; Intel ( INTC), down 24 cents to $26.77; Cisco Systems ( CSCO), down 1 cent to $19.42; Sirius Satellite Radio ( SIRI), up 1 cent to $6.82; Sun Microsystems ( SUNW), down 3 cents to $3.77; and Oracle ( ORCL), down 5 cents to $13.25.