Shares of Helen of Troy ( HELE) were among Nasdaq's losers Tuesday, falling 17% after the personal care products company posted second-quarter results that fell below Wall Street expectations. The company reported earnings of $9.5 million, or 30 cents a share, on sales of $130.4 million. Analysts surveyed by Thomson First Call were expecting earnings of 52 cents a share on sales of $142.2 million. A year ago the company earned $18.8 million, or 57 cents a share, on sales of $141.2 million. Helen of Troy said that declining consumer confidence and higher oil and energy costs hurt its most recent results. "Challenging and difficult economic conditions in our market place have prevailed over the past few quarters," the company said. "We believe this environment may continue into the second half of our current fiscal year." Looking ahead, Helen of Troy now expects fiscal 2006 earnings of $1.80 to $1.90 a share on sales of $575 million to $590 million. Previously, the company said it would earn $2.50 to $2.60 a share on sales of $615 million to $640 million. Analysts had been expecting earnings of $2.38 a share on sales of $624 million. Shares were trading down $3.38 to $16.32. International Rectifier ( IRF) fell 9% after the company cut its first-quarter sales and margin forecasts. The industrial supplier now expects sales of about $273 million, down about 3% from the $281.8 million it reported a quarter ago. Gross margin is now expected to come in at about 40.5%, down 300 basis points from last quarter. Previously, the company said it would post sales that would be flat to up 4% on gross margin that would be flat to down 200 basis points. Adjusted earnings are expected to be 40 cents to 42 cents a share. Analysts had been expecting earnings of 51 cents a share on sales of $288.1 million. "Although demand for our Focus products exceeded expectations in the September quarter, a large percentage of the orders came late in the quarter and the product mix was different than what was forecasted," the company said. Shares were trading down $3.80 to $36.90.
Shares of NCR ( NCR) rose 8% after the maker of automated teller machines raised its third-quarter earnings and sales guidance. The company now expects pro forma earnings of 43 cents to 45 cents a share, up from earlier guidance of 28 cents to 33 cents a share. Sales, meanwhile, are expected to be between $1.49 billion to $1.5 billion, up from previous guidance of $1.48 billion to $1.49 billion. NCR attributed the third-quarter revision to better-than-expected results at its Teradata Data Warehousing business. Analysts had been expecting earnings of 32 cents a share on sales of $1.47 billion. Shares were recently trading up $2.35 to $33.30. K2 ( KTO) fell 16% after the sporting goods maker cut its 2005 earnings and sales forecast. The company now expects adjusted earnings of 75 cents to 77 cents a share on sales of $1.29 billion to $1.32 billion. Previously, the company said it would earn 87 cents to 91 cents a share on sales of $1.3 billion to $1.35 billion. Analysts had been expecting earnings of 89 cents a share on sales of $1.33 billion. K2 blamed the shortfall on weakness in its paintball business. "We continue to face a very difficult outlook in the paintball sector," the company said. "Although softness in paintball has been a concern for us throughout the year as retailers have been reducing inventories, we were hopeful that this would result in a rebound in the later half of the year, which is traditionally paintball's high season." During last year's third and fourth quarter, operating income in its paintball business was in excess of $8.5 million. The company expects little to no contribution from the paintball business during this year's second half, it said. Shares were trading down $1.67 to $9.02. Shares of TJX ( TJX) rose 2% after the retailer said it would buy up to $1 billion in stock as part of a new share repurchase plan. At current prices, the buyback would represent about 10% of the company's outstanding stock. The new buyback back is in addition to the $97 million the company still has remaining under its previous $1 billion share repurchase plan. "This new authorization reflects our confidence in the successful growth of our company," TJX said. Shares were trading up 52 cents to $22.12.
NYSE volume leaders included Nokia ( NOK), up 13 cents to $16.95; General Motors ( GM), up 78 cents to $26.26; Pfizer ( PFE), down 29 cents to $24.16; Lucent Technologies ( LU), unchanged at $3.13; Genentech ( DNA), up $4.12 to $86.12; Corning ( GLW), down 81 cents to $17.44; Wal-Mart ( WMT), up 48 cents to $45.02; Nortel Networks ( NT), up 1 cent to $3.18; Exxon Mobil ( XOM), up 48 cents to $58.98; and General Electric ( GE), down 6 cents to $33.93. Nasdaq volume leaders included Microsoft ( MSFT), down 9 cents to $24.37; JDSU ( JDSU), down 3 cents to $2.11; Cisco Systems ( CSCO), down 14 cents to $17.35; Skyworks Solutions ( SWKS), down 98 cents to $5.63; Oracle ( ORCL), up 7 cents to $12.08; Intel ( INTC), up 5 cents $23.47; Apple Computer ( AAPL), up 96 cents to $51.33; Compuware ( CPWR), down $1.12 to $7.14; Sirius Satellite Radio ( SIRI), down 6 cents to $6.53; and Sun Microsystems ( SUNW), unchanged at $4.06.