Shares of DXP Enterprises ( DXPE) were among the Nasdaq's winners Thursday, jumping 20% after the distributor of maintenance, repair and operating products for industrial firms posted fourth-quarter results that pleased Wall Street. The company earned $2.1 million, or 36 cents a share, on sales of $54.7 million. A single analyst polled by Thomson First Call expected earnings of 23 cents a share and sales of $46.3 million. During the year-earlier period, the company earned $645,000, or 12 cents a share, on sales of $37.7 million. "We feel that our sales and operational strategies position DXP well for the future and give us the ability to leverage these successes in future acquisitions," the company said. Shares were trading up $3.64 to $22.22. Dana ( DCN) shares tumbled 23% after the auto-parts maker missed a $21 million debt payment. The company failed to make a March 1 payment on its 7% senior notes due March 1, 2029, and its 6.5% senior notes due March 1, 2009. The company said that it has a 30-day grace period with respect to the interest payments. "Failure to make the interest payments by March 31, 2006, would constitute an event of default under the indenture for the notes that would permit the indenture trustee, or holders of 25% or more of the notes, to accelerate the maturity of the notes," the company said in a statement after the market closed on Wednesday. Shares recently were trading down 43 cents to $1.42. Men's Wearhouse ( MW) jumped 14% after the men's clothier posted better-than-expected fourth-quarter results. The company earned $32.7 million, or 60 cents a share, on sales of $497 million. Excluding items, the company earned $36.3 million, or 67 cents a share. Analysts expected earnings of 53 cents a share on sales of about $495.2 million. During the year-earlier period, the company earned $25 million, or 45 cents a share, on sales of $458.7 million.
Looking ahead, Men's Wearhouse sees first-quarter adjusted earnings of 46 cents to 48 cents a share. For the full year, the company projects earnings of $2.28 to $2.35 a share, including 6 cents a share in stock-based compensation costs. Analysts expect first-quarter earnings of 53 cents a share and full-year earnings of $2.18 a share. The company's shares were trading up $4.49 to $36.70. Shares of Longs Drug Stores ( LDG) climbed 16% after the drugstore chain posted fourth-quarter results that topped forecasts. The company earned $35.3 million, or 92 cents a share, on sales of $1.24 billion. Excluding items, the company earned $25 million, or 65 cents a share. Analysts expected earnings of 60 cents a share and sales of $1.24 billion. During the year-earlier period, the company earned $17.7 million, or 47 cents a share, on sales of $1.2 billion. For the first quarter, Longs Drug expects earnings of 32 cents to 37 cents a share on sales growth of 9% to 11%. Analysts project earnings of 36 cents a share and sales of $1.19 billion, or sales growth of about 3%. Shares were trading up $6.34 to $45.79. Autobytel ( ABTL) fell 8% after the provider of online automotive marketing services said that it no longer plans to pursue a sale of its business as one of its strategic alternatives. The company also named a new chief executive. Although Autobytel is not on the selling block, the company said it would "continue to review possible strategic acquisitions and partnership opportunities." Autobytel named James Riesenbach as CEO. Riesenbach most recently served as senior vice president of the search and directional media group at Time Warner's ( TWX) AOL division. Rick Post, who had served as Autobytel's president and CEO since April 2005, will step down from those positions but will stay on the company's board. Riesenbach's appointment is effective March 20. The company's shares were trading down 38 cents to $4.33.
Shares of Sharper Image ( SHRP) sank 11% after the specialty retailer posted a 31% decline in February same-store sales. The company's total store sales declined 27% to $19.2 million from $26.3 million a year ago. Total company sales, meanwhile, were $30.5 million in February, down significantly from $45.4 million a year ago. "In response to our recent trends, we have cut expenses, accelerated new-product testing and development, and further reduced our advertising spend, particularly in our direct market channels," the company said. "In the near term, we expect our reduced advertising to contribute to continued lower year-over-year sales results." Shares were trading down $1.31 to $10.35. NYSE volume leaders included Rite Aid ( RAD), up 14 cents to $4.03; Chico's FAS ( CHS), down $5.53 to $42.23; Lucent Technologies ( LU), down 4 cents to $2.83; Texas Instruments ( TXN), up 42 cents to $32.60; Time Warner ( TWX), down 18 cents to $17.23; Abercrombie & Fitch ( ANF), down $5.25 to $62; Elan ( ELN), up 49 cents to $13.48; Nortel Networks ( NT), up 1 cent to $3.02; and General Electric ( GE), down 10 cents to $32.66. Nasdaq volume leaders included JDSU ( JDSU), up 10 cents to $3.27; Conexant Systems ( CNXT), down 3 cents to $3.25; Ciena ( CIEN), down 3 cents to $4.32; Cisco Systems ( CSCO), down 17 cents to $20.89; Intel ( INTC), down 3 cents to $20.77; Sirius Satellite Radio ( SIRI), up 8 cents to $5.12; Oracle ( ORCL), up 1 cent to $12.82; and Microsoft ( MSFT), down 15 cents to $26.99.