Shares of Jarden ( JAH) were among the NYSE's losers Thursday, hitting a 52-week low after the consumer-products maker warned that fourth-quarter earnings will be below Wall Street forecasts. The company put adjusted earnings at 50 cents to 54 cents a share, with sales above $960 million. Analysts polled by Thomson First Call expected earnings of 66 cents a share on sales of $883.3 million. For all of 2005, the company sees adjusted earnings of $2.10 to $2.14 a share, below the $2.24 a share that analysts expected. Jarden said that fourth-quarter results were hampered by weaker-than-expected performance at its FoodSaver and Holmes businesses. The company, meanwhile, projected earnings growth of at least 15% during 2006, and organic sales growth of 3% to 5%. Analysts forecast 2006 earnings of $2.52 a share. The stock, which earlier in the day tumbled 13% to a 52-week low of $26.50, recently rebounded somewhat to trade at $28.39, down $2.03, or 6.7%. Borders Group ( BGP) climbed 10% after the bookseller said that fourth-quarter earnings would be near the top end of its guidance. The company put earnings at $1.70 to $1.80 a share, up from an earlier view of $1.60 to $1.80 a share. Analysts expect earnings of $1.70 a share. Sales during the fourth quarter, meanwhile, are expected to be $1.3 billion. Analysts are looking for sales of $1.39 billion. For all of 2005, Borders expects to report earnings of $1.35 to $1.45 a share. Previously, the company forecast earnings of $1.28 to $1.47 a share. Wall Street targets earnings of $1.38 a share. Borders also announced a new $250 million stock repurchase plan. Shares were recently up $2.19 to $24.60. Shares of BorgWarner ( BWA) fell 4% after the maker of car transmissions issued a 2006 earnings guidance that fell below Wall Street's forecast. The company expects earnings of $4.22 to $4.57 a share. Excluding stock option expense, the company sees earnings of $4.39 to $4.74 a share. The forecast also includes the effect of weaker foreign currencies, which is expected to hurt earnings by 12 cents to 25 cents a share. Analysts are projecting earnings of $4.91 a share. The company predicts sales growth of 5% to 7%, or 9% to 11% when the impact of currency is stripped out. Wall Street targets sales of $4.8 billion. Shares were trading down $2.39 to $55.91.
Auto parts supplier Magna International ( MGA) fell 6% after providing a 2006 sales projection that trailed analysts' forecasts. The company expects 2006 sales of $22 billion to $23.3 billion, below the $24.2 billion that analysts are projecting. The average dollar content per vehicle is expected to be $750 to $780 in North America and $300 to $325 in Europe. Excluding items, the company expects earnings to rise over 2005 results. Shares were down $4.30 to $70.86. Alliance Capital Holding ( AC) rose 3.5% after projecting fourth-quarter earnings well above its prior forecast. The company expects to report earnings near or exceeding $1 a unit, up from its guidance of 75 cents to 90 cents a unit. Analysts had an average estimate for earnings of 84 cents a share. The holding company, which owns 32.2% of money manager Alliance Capital Management, attributed the better-than-expected results to a strong investment performance and higher performance fees. Alliance Capital Management's assets rose to $579 billion at the end of the quarter. The holding company's shares were up $2.09 to $61.96. Shares of Wabtec ( WAB) fell 1% after the company issued a lower-than-expected 2006 earnings forecast and said its considering restructuring. For 2005, the company, a maker of products for the rail industry, continues to expect earnings of $1.15 a share, which is below analysts' forecasts of $1.17 a share. For 2006, the company sees earnings of about $1.50 a share, below forecasts of $1.55 a share. The company said it is evaluating additional restructuring actions that, if implemented, would help management achieve its long-term goal to increase gross margin to at least 30%. Shares were trading down 23 cents to $27.80. NYSE volume leaders included Lucent Technologies ( LU), up 4 cents to $2.70; Corning ( GLW), down 80 cents to $24.15; Elan ( ELN), up 18 cents to $15.99; Pfizer ( PFE), down 11 cents to $24.64; Ford ( F), down 25 cents to $8.68; Advanced Micro Devices ( AMD), up 99 cents to $37.26; Nokia ( NOK), down 12 cents to $18.79; and General Electric ( GE), down 31 cents to $35.12. Nasdaq volume leaders included Sirius Satellite Radio ( SIRI), up 27 cents to $6.39; Cisco Systems ( CSCO), down 23 cents to $19.17; Apple Computer ( AAPL), up $2.32 to $86.22; Intel ( INTC), up 20 cents to $26.34; Conexant Systems ( CNXT), up 4 cents to $3.35; Microsoft ( MSFT), down 22 cents to $27.07; Identix ( IDNX), up $1.36 to $7.14; Applied Materials ( AMAT), down 15 cents to $20.50; JDSU ( JDSU), down 7 cents to $2.86; and Oracle ( ORCL), up 1 cent to $12.61.