Heidrick & Struggles International ( HSII) stumbled as the executive search and leadership consulting firm missed Wall Street's first-quarter earnings expectations.

The Chicago-based company reported income of $5.9 million, or 30 cents a share, compared with $6.9 million, or 33 cents a share, a year ago. Revenue rose 2.9% to $101.5 million. Analysts polled by Thomson First Call were expecting earnings of 41 cents on revenue of $107.5 million.

For 2006, the company reiterated its expectations of revenue between $445 million and $465 million, an 8% to 13% increase over 2005. Shares closed down $4.69, or 13.08%, to $31.16 Tuesday.

Clayton Holdings ( CLAY) plummeted after the Shelton, Conn.-based financial services-outsourcing company posted a first-quarter loss of $800,000, or 6 cents a share, compared with income of $3.4 million, or 28 cents a share, a year ago. On a GAAP basis, the company reported a loss of $1.1 million, or 9 cents a share, compared with income of $1.9 million, or 16 cents a share, a year ago. Revenue increased 15.3% to $55.2 million.

"The first quarter marked a significant milestone in Clayton's history with the completion of our initial public offering in March," CEO Frank Filipps said in a company statement. "As anticipated, the results for the first quarter of 2006 as compared to 2005 reflect the impact of increased infrastructure costs and the different debt and capital structures in place during the periods."

Separately, the company has named D. Keith Johnson president and COO. Johnson had been president and CEO of Washington Mutual's ( WM) Long Beach Mortgage. Shares dropped $5.85, or 29.60%, to close at $15.90.

Visteon ( VC) surged after the automotive-systems maker posted a first-quarter profit, beating Wall Street's expectations. The company reported income of $3 million, or 2 cents a share, up from a loss of $163 million, or $1.30 a share, a year ago. Revenue totaled $2.96 billion, down from $4.99 billion a year ago.

The company said product sales were lower primarily due to an Oct. 1 transaction that transferred 23 Visteon facilities to Automotive Components Holdings, a business entity managed by Ford ( F).

Analysts were looking for the company to post a loss of 48 cents a share on sales of $2.97 billion. Visteon raised its 2006 estimate for earnings before interest expense, income taxes, restructuring and other items to between $120 million and $150 million, up from an earlier projection of $45 million to $75 million. The company said it still expected to generate about $50 million of free cash flow for 2006. Shares gained $1.09, or 18.60%, to close at $6.95.

Haverty Furniture ( HVT) gained after the Atlanta-based furniture retailer saw its first-quarter income rise more than 60%. The company reported income of $5.1 million, or 23 cents a share, up from $3.2 million, or 14 cents a share, a year ago. Sales rose 0.7% over last year to $209.1 million. Comparable-store sales decreased 0.6% for the quarter.

"Much-improved gross profit margins led to an earnings increase even as our sales volume was less than planned and operating costs were higher than last year," CEO Clarence H. Smith said in a statement. Separately, the company said April sales decreased 0.7% to $64.7 million, compared with $65.1 million in April 2005. Comparable-store sales in April decreased 2.4%. Shares rose as high as $16.25 in intraday trading but closed the session at $14.88, up 1.2%.

Atlantic Tele-Network ( ANK) advanced after the Salem, Mass.-based telecommunications company posted a 34% increase in first-quarter earnings. The company reported earnings of $4.1 million, or 33 cents a share, up from $3 million, or 24 cents a share, a year ago. Revenue totaled $34.5 million, up from $22.7 million a year ago. The company said all share and per-share amounts reflect the effects of the 5-for-2 stock split, which took place on March 31.

"We are happy to have a strong start to 2006," finance chief Michael T. Prior said in a statement. "This quarter shows the benefits of some of our key decisions of 2005 -- the decisions to acquire Commnet and SoVerNet, the decision to shut down our Atlantic Tele-Center business and the decisions to implement a restructuring and new service launch at Choice." Shares gained $2.75, or 11.61%, to close at $26.43.

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