Shares of Netflix ( NFLX) were among the Nasdaq's losers Tuesday, plunging 20% after the online movie-rental company posted mixed second-quarter results and projected third- and fourth-quarter revenue below forecasts. The company's second-quarter earnings rose to $16.8 million, or 24 cents a share, from $5.7 million, or 9 cents a share, a year earlier. Analysts polled by Thomson First Call expected earnings of 18 cents a share. Revenue jumped to $239.4 million from $164 million a year earlier, but fell short of analysts' target of $242.5 million. Looking ahead, Netflix sees third-quarter earnings of $5 million to $10 million and revenue of $249 million to $254 million. Analysts project earnings of $11 million, or 16 cents a share, on revenue of $258.3 million. For the fourth quarter, the company anticipates earnings of $3.8 million to $8.8 million, with revenue of $267 million to $272 million. Analysts forecast earnings of $8.6 million, or 13 cents a share, on revenue of $283.7 million. Shares were recently down $4.79 to $18.97. UPS ( UPS) shares sank 15% after the package shipper's second-quarter earnings and third-quarter guidance came in below Wall Street's forecasts. The company earned $1.06 billion, or 97 cents a share, for the second quarter, with revenue of $11.74 billion. Analysts expected earnings of $1 a share and revenue of $11.61 billion. During the year-earlier period, the company earned $986 million, or 88 cents a share, on revenue of $10.19 billion. For the third quarter, UPS sees earnings of 87 cents to 91 cents a share. Analysts project earnings of 97 cents a share. Shares were trading down $11.76 to $68.24. Shares of rival FedEx ( FDX) fell $3.07, or 3%, to $107.37 in sympathy. Shares of Station Casinos ( STN) slid 5% after the casino operator posted weaker-than-expected second-quarter results and guided third-quarter earnings below expectations. For the second quarter, the company earned $26.8 million, or 44 cents a share, on revenue of $341.8 million. Excluding items, the company earned $37.3 million, or 61 cents a share. Analysts predicted earnings of 63 cents a share, before items, on revenue of $342.3 million. Last year, the company recorded adjusted second-quarter earnings of $45.6 million, or 66 cents a share, on revenue of $274 million. Station Casinos projects third-quarter earnings of 49 cents to 54 cents a share, below analysts' target of 58 cents. For the fourth quarter, the company anticipates earnings of 59 cents to 64 cents a share. Analysts project earnings of 69 cents a share. Station shares were trading down $2.71 to $57.19.
Ryan's Restaurant Group ( RYAN) vaulted 40% after the company agreed to be taken private by Buffets, an owner of buffet-style restaurants. Buffet will pay $16.25 a share for Ryan's, representing a 45% premium over the company's closing price of $11.22 Monday. The transaction, which will create the nation's largest buffet restaurant chain, is valued at $876 million, the companies said. Ryan's shares were trading at $15.78, up $4.56. BJ Services ( BJS) rose 7% after the oil services company posted fiscal third-quarter results that easily beat expectations. For the period ended June 30, the company earned $212.9 million, or 67 cents a share, on revenue of $1.12 billion. Analysts expected a profit of 58 cents a share, with revenue of $1.01 billion. A year earlier, the company earned $114.2 million, or 35 cents a share, on revenue of $817.3 million. Looking ahead, BJ Services sees fiscal fourth-quarter earnings of 73 cents to 75 cents share, ahead of the 67 cents a share that analysts project. Shares were tacking on $1.71 to $32.77. Shares of Wabtec ( WAB) tumbled 18% after the maker of products for the rail industry posted weak second-quarter revenue and announced a restructuring plan. The company reported earnings from continuing operations of $21.8 million, or 44 cents a share, on revenue of $261.9 million. Analysts expected earnings of 42 cents a share on much higher revenue of $297.6 million. During the year-earlier quarter, Wabtec earned $14.9 million, or 31 cents a share, on revenue of $266.3 million. Looking ahead, Wabtec continues to forecast full-year earnings of about $1.60 a share, excluding items. Analysts project earnings of $1.69 a share. The company also announced a restructuring plan aimed at improving profitability and efficiency. Wabtec will downsize two of its Canadian plants, move production to lower-cost facilities and outsource some of the operations. Shares were trading down $5.84 to $26.61.
Shares of Energizer ( ENR) jumped 9% after the battery and razor maker topped Wall Street's fiscal third-quarter estimates. For the quarter ended June 30, the company earned $51.3 million, or 83 cents a share, compared with $52.3 million or 71 cents a share, a year ago. The quarter included favorable tax adjustments of $8.6 million, or 14 cents a share and restructuring charge of $7.9 million, or 13 cents a share related to its European business. Analysts expected earnings of 65 cents a share. Revenue increased 6% to $734.9 million, beating analysts' estimate of $703.5 million. Shares were up $4.85 to $60.43. NYSE volume leaders included AT&T ( T), up $1.18 to $28.96; Pfizer ( PFE), up 26 cents to $25.05; Advanced Micro Devices ( AMD), up 37 cents to $17.76; Avaya ( AV), down $1.49 to $9.05; Texas Instruments ( TXN), up $1.33 to $29.17; Ford ( F), up 6 cents to $6.42; 3M ( MMM), down $3.58 to $68.11; Motorola ( MOT), up 35 cents to $21.47; and Halliburton ( HAL), up 36 cents to $31.46. Nasdaq volume leaders included ATI Technologies ( ATYT), up 12 cents to $19.79; Level 3 Communications ( LVLT), down 31 cents to $4.05; Microsoft ( MSFT), down 3 cents to $23.97; Atmel ( ATML), down 79 cents to $4.03; Intel ( INTC), up 2 cents to $17.50; SanDisk ( SNDK), up $5.91 to $46.11; Encysive Pharmaceuticals ( ENCY), down $2.46 to $3.72; Dell ( DELL), down 6 cents to $20.69.