Shares of Design Within Reach ( DWRI) were among Nasdaq's losers Friday, plunging 37% after the company previewed third-quarter results that were worse than expectations and gave a dismal outlook for the rest of 2005 and 2006.

The furnishings retailer estimates it had a third-quarter loss of $441,000, or 3 cents a share, on sales of $39.4 million. Analysts polled by Thomson First Call expected a profit of 4 cents a share on sales of $39.4 million. A year earlier, the company earned $906,000, or 6 cents a share, on sales of $30.1 million. "Given our third quarter results and outlook for the remainder of 2005, we are disappointed in our current performance," the company said. Design Within Reach didn't release final third-quarter results because its independent public accountant hasn't completed its third-quarter review and because of "continued delays in completing quarter-end procedures as a result of the company's May 2005 systems conversion."

Design Within Reach hacked its 2005 earnings forecast to 4 cents to 7 cents a share from 40 cents to 42 cents. The company projects sales of about $157 million. Analysts had forecast 2005 earnings of 38 cents a share on sales of $164 million. For 2006, the company projects earnings of 11 cents to 21 cents a share, well below Wall Street's forecast of 59 cents a share. The company sees sales of $175 million to $185 million, compared with analysts' projection of $200.8 million. Shares recently were trading down $2.78 to $4.83.

Tarrant Apparel ( TAGS - Get Report) jumped 34% after the company reported it swung to a third-quarter profit and lifted its recently revised 2005 earnings outlook. The apparel maker earned $1.7 million, or 6 cents a share, on sales of $69.6 million, for the third quarter. A year earlier, the company reported a loss of $4 million, or 14 cents a share, on sales of $38.1 million.

Tarrant now sees 2005 earnings of $2 million to $2.5 million, up from its recent estimate of $1 million to $2 million. Tarrant continues to see sales of $210 million to $215 million.

On Nov. 1, the company's shares plummeted 38% after Tarrant slashed its full-year forecast from a prior projection for earnings of $9 million to $12 million and sales of $240 million to $250 million. Shares recently traded up 36 cents to $1.42.

Shares of Patterson-UTI ( PTEN - Get Report) fell 8% after the oil driller said it is conducting an internal investigation into a possible embezzlement scheme by a former officer. "Based on preliminary findings, it appears that approximately $70 million may have been embezzled from the company by a former officer over a period of more than five years," the company said. "Because the investigation is just beginning the company has not yet made a final determination as to the impact of these developments upon its previous financial results and assessment of internal controls." Patterson-UTI has informed the Securities and Exchange Commission and is in the process of notifying appropriate criminal enforcement agencies regarding the company's investigation. Shares were trading down $2.47 to $30.36.

PW Eagle ( PWEI) soared 17% after the company issued an upbeat fourth-quarter and full-year outlook. The company, which doesn't usually provide earnings guidance, sees fourth-quarter earnings of at least $2.10 a share, including $1.15 a share from the sale of USPoly's interest in W.L. Plastics. "The industry is in a very favorable phase of the economic cycle, high demand for pipe and tight supplies of both resin and pipe have permitted us to continue to expand our margins into the fourth quarter," the company said. For the full year, PW Eagle sees earnings of at least $3 a share. Shares were trading up $2.23 to $15.57.

Shares of Petrohawk Energy ( HAWK) fell 7% after the oil and gas company posted third-quarter earnings that fell below expectations. The company reported a loss of $36.5 million, or 56 cents a share, on sales of $81.4 million. Excluding items, the company would have earned $11.6 million, or 18 cents a share. Analysts expected earnings of 24 cents a share, before items, on sales of $72.3 million. For last year's third quarter, the company posted a loss of $712,000, or 5 cents a share, on sales of $5.6 million. Excluding items, the company earned $642,000, or 5 cents a share, for last year's period. Petrohawk shares traded down 81 cents to $11.03.

NYSE volume leaders included EMC ( EMC), down 6 cents to $13.81; SBC Communications , up 4 cents to $23.93; Lucent Technologies unchanged at $2.77; General Electric ( GE), up 18 cents to $34.68; Time Warner ( TWX), up 14 cents to $17.85; Pfizer ( PFE), down 9 cents to $21.12; Chesapeake Energy ( CHK - Get Report), up 72 cents to $27.45; and Ford ( F), up 21 cents to $8.03.

Nasdaq volume leaders included Dell ( DELL), up 30 cents to $29.51; Cisco Systems ( CSCO), up 2 cents to $17.17; Microsoft ( MSFT), up 25 cents to $27.34; Oracle ( ORCL), up 27 cents to $12.97; Intel ( INTC), up 9 cents $25.33; Apple Computer ( AAPL), up 63 cents to $61.81; and Sirius Satellite Radio ( SIRI), up 1 cent to $6.98.