Shares of Majesco Entertainment ( COOL) were among the Nasdaq's losers Tuesday, falling 48% after the video game company posted third-quarter results that missed Wall Street forecasts by a wide margin. The company reported a loss of $37.5 million, or $1.69 a share, on sales of $4.6 million. Analysts polled by Thomson First Call were expecting a loss of 65 cents a share on sales of $7.8 million. A year ago the company earned $20.5 million, or $1.06 a share, on sales of $34 million. "The lower-than-expected sales of some of our key products combined with the effects of the upcoming console transition and overall industry softness have made this a very challenging year," the company said. "As a result of our disappointing results, we are re-evaluating our business model." Looking ahead, the company now expects a 2005 operating loss of $40 million to $45 million on sales of $60 million to $65 million. Analysts are expecting a loss of 68 cents a share on sales of $117.8 million. Shares were trading down $1.17 to $1.27. Kroger ( KR - Get Report) rose 2% after the supermarket chain posted in-line second-quarter earnings and backed full-year guidance. The company earned $196.5 million, or 27 cents a share, on sales of $13.87 billion. Analysts were expecting earnings of 27 cents a share on sales of $13.61 million. A year ago the company earned $142.4 million, or 19 cents a share, on sales of $12.98 billion. Looking ahead, Kroger backed its fiscal 2005 earnings guidance, saying that it continues to expect earnings that will exceed $1.24 a share. Analysts are expecting earnings of $1.28 a share. Shares were trading up 32 cents to $20.54. Shares of Cosi ( COSI) rose 15% after the company cut its loss forecast for 2005. The restaurant company now expects a smaller loss of 11 cents a share, down from previous guidance of that called for a loss of 14 cents to 18 cents a share. Analysts had been expecting a full-year loss of 14 cents a share. The company now expects comparable-store sales of 7% to 9%, up from previous guidance of 4% to 5%. Shares were trading up $1.28 to $9.99.
Taser International ( TASR) rose 6% after the company received two international orders totaling more than $775,000. The company said the stun guns and accessories, which were ordered by overseas law enforcement agencies, are expected to ship during the third quarter. Shares were trading up 45 cents to $8.32. Shares of Best Buy ( BBY - Get Report) fell 9% after the consumer electronics company reported second-quarter results that fell below expectations and warned that third-quarter earnings would fall below forecasts. The company earned $188 million, or 37 cents a share, on sales of $6.7 billion. Analysts were expecting earnings of 38 cents a share on sales of $6.75 billion. A year ago the company earned $127 million, or 26 cents a share, on sales of $6.1 billion. Looking ahead, Best Buy forecast third-quarter earnings of 28 cents to 32 cents a share on a comp-store sales gain of 3% to 5%. Analysts had been expecting earnings of 34 cents a share. During last year's third quarter, the company earned 25 cents a share. Shares were recently trading down $4.31 to $46.05. NYSE volume leaders included Nokia ( NOK - Get Report), up 71 cents to $16.78; Lucent Technologies , down 1 cent to $3.13; News Corp. ( NWS - Get Report), down 19 cents to $17.11; and Time Warner ( TWX), down 17 cents to $18.04. Nasdaq volume leaders included Siebel Systems up 3 cents to $10.32; Oracle ( ORCL), up 18 cents to $13.67; Cisco Systems ( CSCO), down 12 cents to $18.36; Intel ( INTC), up 3 cents to $25.02; Microsoft ( MSFT), down 16 cents to $26.45; Sun Microsystems ( SUNW), up 7 cents to $4.17; Sirius Satellite Radio ( SIRI), down 6 cents to $7.29; and eBay ( EBAY), down 37 cents to $38.57.