Shares of Gander Mountain ( GMTN) were among the Nasdaq's winners Wednesday, climbing 9% after the outdoor-products retailer posted better-than-expected fourth-quarter earnings. The company earned $22.2 million, or $1.45 a share, on sales of $280.8 million. Analysts polled by Thomson First Call expected earnings of 87 cents a share and sales of $287.8 million. During the year-earlier quarter, the company earned $17.5 million, or $1.21 a share, on sales of $239 million. Shares were trading up 64 cents to $7.28. Shares of Sourcecorp ( SRCP) fell 6% after the document-services company agreed to be acquired by affiliates of Apollo Management for about $390 million in cash, or $25 a share. The price represents a 3% discount to Tuesday's closing price of $25.83. "We are very pleased with the results of our strategic review," Sourcecorp said in a statement. "This transaction represents an endorsement of our business model, our strong market position, the quality of our customer base and the talent and expertise of our people." The acquisition is expected to close during the second or third quarter. Shares were trading down $1.53 to $24.30. Dynegy ( DYN) fell 7% after the electricity producer posted weaker-than-expected fourth-quarter results and widened its full-year loss forecast. For the fourth quarter, Dynegy reported a profit of $300 million, or 75 cents a share. Excluding a gain on an asset sale, the company posted a loss from continuing operations of $386 million, or 98 cents a share. Analysts expected a smaller loss of 12 cents a share. Dynegy reported revenue of $622 million; a single analyst expected revenue of $878.4 million. A year earlier, the company recorded a loss from continuing operations of $223 million, or 60 cents a share, on revenue of $327 million. Looking ahead, Dynegy now sees a 2006 loss of $65 million to $130 million. Previously, the company predicted a loss of $5 million to $75 million. Shares were trading down 34 cents to $4.61.
Shares of Sotheby's Holdings ( BID) jumped 11% after the auction company posted fourth-quarter results that topped forecasts. The company earned $50.3 million, or 88 cents a share, up from $36.2 million, or 57 cents a share, a year earlier. Earnings from continuing operations were $51.7 million, or 90 cents a share, above analysts' forecast of 74 cents. Revenue rose to $204.8 million from $200.6 million, beating Wall Street's target of $199 million. "2005 was our best year in 15 years and was without question one of Sotheby's best years ever," the company said. Shares were trading up $2.39 to $23.25. ASV ( ASVI) shares traded actively after the maker of rubber truck loaders posted fourth-quarter results that topped forecasts. The company earned $8.2 million, or 29 cents a share, on sales of $66 million. Results included one-time items that added 3 cents a share to the bottom line. Analysts expected earnings of 24 cents a share and sales of $61.6 million. During the year-earlier period, the company earned $5 million, or 18 cents a share, on sales of $48.1 million. For 2006, ASV continues to expect earnings of $1.14 to $1.23 a share excluding stock-based compensation costs. Analysts forecast earnings of $1.16 a share. ASV sees sales of $300 million to $320 million, bracketing analysts' mean estimate of $1.16. The company's shares were up 3 cents to $30.05. NYSE volume leaders included Lucent Technologies ( LU), unchanged at $2.86; Micron Technology ( MU), down 42 cents to $14.56; Advanced Micro Devices ( AMD), down $1.94 to $36.33; Nokia ( NOK), up 48 cents to $19.69; AT&T ( T), up 1 cent to $26.54; Sprint Nextel ( S), down 7 cents to $24.78; Exxon Mobil ( XOM), up 23 cents to $60.08; and General Electric ( GE), up 4 cents to $33.19. Nasdaq volume leaders included Lexar Media ( LEXR), up $1.37 to $8.46; Intel ( INTC), down 8 cents to $19.98; Sirius Satellite Radio ( SIRI), down 18 cents to $4.74; Microsoft ( MSFT), up 33 cents to $27.39; Applied Micro Circuits ( AMCC), up 18 cents to $3.88; Applied Materials ( AMAT), down 43 cents to $17.90; Cisco Systems ( CSCO), down 6 cents to $20.80; JDSU ( JDSU), up 6 cents to $3.56; and Qualcomm ( QCOM), up 98 cents to $48.84.