Shares of Quiksilver ( ZQK) were among the NYSE's losers Wednesday, falling 14% after the company affirmed its fourth-quarter and 2005 outlook but warned that 2006 earnings would be below Wall Street forecasts. The apparel and sports equipment company continues to expect fourth-quarter earnings of 26 cents to 27 cents a share on sales of $582 million to $592 million. For all of 2005 the company expects earnings of 86 cents to 87 cents a share on sales of $1.73 billion to $1.74 billion. Analysts surveyed by Thomson First Call are expecting fourth-quarter earnings of 19 cents a share on sales of $589.5 million. For the year, analysts are looking for earnings of 87 cents a share on sales of $1.73 billion. Looking ahead, however, Quiksilver forecast fiscal 2006 earnings of 87 cents to 88 cents a share on sales of $2.25 billion to $2.27 billion. The Street was expecting earnings of 98 cents a share on sales of $2.19 billion. "Some factors are leading the company to moderate its current view on fiscal 2006," the company said. "First, the company has taken aggressive steps to more rapidly integrate Rossignol, while other components will be completed and announced later in 2006. Second, the strengthening dollar and higher than anticipated interest expense are also expected to impact results." Shares recently traded down $1.80 to $11.20. Jakks Pacific ( JAKK) rose 4% after the toy maker posted third-quarter results that were better than analysts expected. The company earned $32.8 million, or $1.05 a share, on sales of $233.5 million. Analysts were expecting earnings of 89 cents a share on sales of $211 million. A year ago, the company earned $23.3 million, or 76 cents a share, on sales of $206.1 million. Jakks said that it continues to expect 2005 earnings of $2.28 a share on sales of $660 million. Analysts project earnings of $2.18 a share on sales of $644 million. Shares were trading up 74 cents to $17.67.
Shares of Cheesecake Factory ( CAKE) rose 12% after the restaurant operator posted third-quarter earnings that matched expectations. The company reported earnings of $21.9 million, or 27 cents a share, on sales of $292.8 million. Analysts were expecting earnings of 27 cents a share on higher sales of about $297 million. The company said that it lost $3 million to $3.2 million in sales because of reduced traffic and restaurant closures that were caused by the hurricanes in the Gulf Coast region. "We estimate comparable sales at The Cheesecake Factory would have increased approximately 2.1% without the impact on traffic from the hurricanes, or approximately equal to our effective menu price increase," the company said. A year ago, Cheesecake Factory earned $12.4 million, or 16 cents a share, on sales of $247.7 million. The company's shares were up $3.68 to $34.67. Knight Capital Group ( NITE) rose 8% after the company turned in better-than-expected third-quarter results. The market maker reported earnings of $24.4 million, or 23 cents a share, on revenue of $184.1 million. Excluding items, the company would have reported earnings of $27.2 million, or 26 cents a share, well above analysts' forecast for earnings of 13 cents a share. A year ago, the company reported a loss from continuing operations of $6.6 million, or 6 cent a share, on revenue of $101.8 million. Knight said its most recent results were led by strong broker-dealer operations. Shares were trading up 62 cents to $8.85. Shares of Entrust ( ENTU) dropped 14% after the digital signature technology company posted third-quarter results that missed expectations. The company earned $956,000, or 2 cents a share, on sales of $23.7 million. On an adjusted basis, the company earned $1.2 million, or 2 cents a share. Analysts were expecting earnings of 3 cents a share on sales of $25.4 million. A year ago, the company reported adjusted earnings of $657,000, or 1 cent a share, on sales of $21.3 million.
Looking ahead, Entrust expects full-year earnings of 10 cents to 12 cents a share, in line with the 11 cents a share that analysts are expecting. Shares were trading down 72 cents to $4.45. NYSE volume leaders included Motorola ( MOT), up 85 cents to $21.02; Citigroup ( C), down 6 cents to $44.40; Lucent Technologies ( LU), down 4 cents to $3.07; Seagate Technology ( STX), down 38 cents to $14.67; Exxon Mobil ( XOM), down 37 cents to $55.93; Nortel Networks ( NT), down 1 cent to $3.48; Pfizer ( PFE), down 28 cents to $23.45; and Chesapeake Energy ( CHK), down $1.33 to $30.03. Nasdaq volume leaders included Intel ( INTC), down 49 cents $23.23; Yahoo! ( YHOO), up $1.88 to $35.58; Sirius Satellite Radio ( SIRI), down 15 cents to $5.82; Microsoft ( MSFT), up 30 cents to $24.87; Cisco Systems ( CSCO), up 5 cents to $17.03; Dell ( DELL), down 43 cents to $31.75; Oracle ( ORCL), up 13 cents to $12.50; eBay ( EBAY), up 97 cents to $41.39; and Novavax ( NVAX), up 20 cents to $3.13.