Shares of Hutchinson Technology ( HTCH) were among the Nasdaq's losers Tuesday, falling 17% after the company cut its fourth-quarter earnings and sales guidance. The company now expects earnings of 5 cents to 20 cents a share on sales of $150 million to $165 million. Previously, the company said that it would earn 55 cents to 65 cents a share on sales of $165 million to $180 million. Analysts polled by Thomson First Call had been expecting earnings of 59 cents a share on sales of $174.9 million. Hutchinson said that soft demand and a shift in product mix hurt its results. Gross margins are now expected to be between 19% and 23%, down from previous guidance of 28% to 30%. Hutchinson plans to release its fourth-quarter earnings on Nov. 1. Shares were trading down $5.25 to $26.26. Engineered Support Systems ( EASI - Get Report) fell 6% after the defense contractor posted mixed third-quarter results. The company earned $22.6 million, or 52 cents a share, on sales of $258.7 million. Analysts were expecting earnings of 50 cents a share on sales of $263.1 million. A year ago, the company earned $20.5 million, or 49 cents a share, on sales of $221.9 million. Looking ahead, Engineered Support Systems said that it continues to expect earnings of $2 to $2.03 a share on sales of $1.02 billion to $1.05 billion. Analysts are expecting earnings of $2.04 a share on sales of $1.04 billion. For 2006, the company expects earnings of $2.20 to $2.30 a share on sales of $1.2 billion to $1.25 billion. Analysts are expecting earnings of $2.41 a share on sales of $1.18 billion. Shares were trading down $2.09 to $35.07. Shares of Finish Line ( FINL) fell 13% after the athletic specialty retailer cut its second- and third-quarter earnings guidance. The company now expects second-quarter earnings of 37 cents to 39 cents a share, down from previous guidance of 48 cents to 50 cents a share. For the second quarter, the company posted sales of $341.6 million, which is below the $355.2 million that analysts had been expecting. Analysts are expecting second-quarter earnings of 49 cents a share. The company said that slowing footwear and softgood sales and a more promotional environment hurt its second-quarter results.
For the third quarter, the company now expects to report a loss of 1 cent to 3 cents a share on sales of $262 million. Previously, the company said it would earn between 5 cents and 7 cents a share. Analysts are expecting earnings of 6 cents a share on sales of $266.7 million. Shares were trading down $2.17 to $14.03. Joy Global rose 3% after the mining equipment company posted third-quarter earnings that topped forecasts. The company earned $30.8 million, or 37 cents a share, on sales of $522.6 million. Excluding items, the company would have earned 57 cents a share. Analysts were expecting earnings of 51 cents a share on sales of $531.5 million. A year ago the company earned $16.3 million, or 20 cents a share, on sales of $381.9 million. Looking ahead, Joy Global said it expects earnings of $2.40 to $2.80 a share during the next 12 months on sales of $2.15 billion to $2.35 billion. Shares were trading up $1.10 to $43.89. Shares of SatCon Technology rose 33% after the company received a purchase order worth more than $1.3 million from an unidentified customer. The order calls for the company to deliver its fuel cell power condition units to the customer during the next six to 12 months. The power condition units are used with alternative energy power systems that generate electrical power in office buildings, small factories, hotels and similar facilities, the company said. Shares were trading up 55 cents to $2.21. NYSE volume leaders included Motorola , up 12 cents to $21.37; Lucent Technologies , down 4 cents to $3.05; Pfizer , down 3 cents to $25.07; Nortel Networks ( NT), unchanged at $3.05; General Electric ( GE), down 48 cents to $33.12; and Exxon Mobil ( XOM), up 51 cents to $58.93. Nasdaq volume leaders included Capstone Turbine ( CPST), up 67 cents to $5.27; Microsoft ( MSFT), down 10 cents to $27.05; Cisco Systems ( CSCO), down 16 cents to $17.48; ATI Technologies down 34 cents to $11; Intel ( INTC), down 27 cents to $25.46; and Sun Microsystems ( SUNW), down 4 cents to $3.67.