Shares of ElkCorp ( ELK) were among the NYSE's losers Tuesday, falling 7% after the maker of roofing and building products cut its third-quarter earnings guidance. The company now projects earnings of 40 cents to 43 cents a share for the March quarter, down from an earlier forecast of 50 cents to 53 cents a share. Analysts polled by Thomson First Call project earnings of 53 cents a share. For the full fiscal year, the company sees earnings at the low end of its previous range of $2.25 to $2.40 a share. Analysts project earnings of $2.35 a share. "The reduced earnings per diluted share estimate for the third quarter is primarily attributed to slower than anticipated ramp-up of sales into the Florida storm areas, higher asphalt and transportation costs and lower than expected decking shipments in the composites business," the company said in a statement. ElkCorp plans to release third-quarter results on April 25. Shares were trading down $2.64 to $33.60. Manitowoc ( MTW) rose 8% after the maker of heavy-lifting equipment said that first-quarter earnings would be well above Wall Street expectations. The company sees first-quarter earnings topping analysts' average estimate by at least 20 cents a share. Analysts project earnings of 62 cents a share, according to First Call. "The crane business has continued to outperform even our own high expectations," the company said. "We are extremely pleased with our success in working through production challenges common in this high demand environment." For 2006, the company now sees earnings of $3.75 to $4 a share, up from an earlier view of $3.30 to $3.60 a share. Analysts project earnings of $3.65 a share. Manitowoc shares recently traded up $6.64 to $88.49. Shares of Intermec ( IN) rose 3% after the company announced a $100 million share repurchase plan. The company, which makes supply-chain management systems, said it will use available cash and cash equivalents to fund the stock buyback. At the end of 2005, cash and equivalents stood at about $257 million. Intermec shares were up 90 cents to $31.74.
Fieldstone Investment ( FICC) fell 4% after the company delayed the release of its annual report. The company, which plans to file for an extension until April 17, said it needs additional time to re-examine its financial statements for 2003 through 2005. Specifically, the company is reassessing the appropriate recognition of income tax expense on intercompany transactions within Fieldstone's consolidated group. "If Fieldstone makes a final determination to change its recognition of tax expense on these transactions, it would require a restatement of Fieldstone's financial statements for the years 2003 and 2004 and for each of the first three quarters of 2005," the company said. Fieldstone plans to release its fourth-quarter results when it files its annual report with the Securities and Exchange Commission. Shares were down 49 cents to $12.01. Shares of Hydrogenics ( HYGS) slid 13% after the maker of fuel-cell systems warned that first-quarter sales would be well below Wall Street's forecast. The company sees sales of $4.5 million to $6.5 million. Analysts, meanwhile, project sales of $11.8 million. During the year-earlier quarter, the company posted sales of $11.3 million. The company blamed the shortfall on production delays within its OnSite Generation business. "The production delays are a result of supply chain and component quality issues, which we believe we are addressing through appropriate corrective measures," Hydrogenics said. Shares were trading at $3.51, down 50 cents. NYSE volume leaders included Lucent Technologies ( LU), down 5 cents to $3.03; Nortel Networks ( NT), up 2 cents to $2.92; EMC ( EMC), down 22 cents to $13.38; Time Warner ( TWX), down 22 cents to $16.78; Liberty Media ( L), unchanged at $8.09; Pfizer ( PFE), down 28 cents to $25.53; Ford ( F), up 7 cents to $8.13; UnitedHealth Group ( UNH), down 59 cents to $54.34; AT&T ( T), up 4 cents to $27.35; and General Electric ( GE), down 16 cents to $33.79. Nasdaq volume leaders included Level 3 Communications ( LVLT), up 54 cents to $5.01; Intel ( INTC), up 1 cent to $19.76; JDSU ( JDSU), up 4 cents to $4.09; Sun Microsystems ( SUNW), unchanged at $4.99; Apple Computer ( AAPL), up 11 cents to $59.62; Cisco ( CSCO), up 5 cents to $21.74; Ciena ( CIEN), up 28 cents to $5.51; Sirius Satellite Radio ( SIRI), down 3 cents to $4.98; Microsoft ( MSFT), unchanged at $27.01; Oracle ( ORCL), down 9 cents to $13.75; and Generex Biotech ( GNBT), up 19 cents to $3.15.