Shares of Intrawest were among the NYSE's top performers Friday, soaring 29% after the ski-resort operator agreed to be bought out by Fortress Investment Group in a $2.8 billion deal. Intrawest, which operates British Columbia's Whistler Blackcomb and Vermont's Stratton Mountain, said Fortress will pay $35 a share in the deal. The price represents a 32% premium to Intrawest's Thursday closing price. The total value of the deal, which is expected to close in October, includes the assumption of debt. Intrawest shares recently were up $7.65 to $34.16. Shares of fellow ski resort operator Vail Resorts ( MTN - Get Report) jumped $2.14, or 6%, to $37.43. Shares of Red Robin Gourmet Burger ( RRGB - Get Report) advanced 8% after the casual-dining chain's second-quarter earnings topped Wall Street's expectation. The company earned $7.2 million, or 43 cents a share, compared with $7.4 million, or 45 cents a share, a year earlier. The latest quarter's results included 5 cents a share in stock-option costs, which weren't recorded in the year-earlier period. Analysts polled by Thomson First Call had forecast earnings of 39 cents a share, including the options. Red Robin's revenue rose to $135.9 million from $114.1 million, while same-store sales increased 3.3%. Looking ahead, Red Robin forecast third-quarter earnings of 40 cents to 44 cents a share, before a 7-cent charge related to a franchise acquisition. The company sees revenue of $147 million to $149 million. Analysts expect earnings of 47 cents a share and revenue of $147.8 million. For the full year, the company anticipates earnings of $1.74 to $1.83 a share, before the franchise charge, and revenue of $615 million to $618 million. The forecast is in line with Wall Street's projection for earnings of $1.78 a share and revenue of $615.2 million. Shares were trading up $2.83 to $37.89.
Parlux Fragrances plunged 38% after the perfume company delayed filing its quarterly report and estimated earnings well below Wall Street's forecast. In a Securities and Exchange Commission filing, Parlux said it needed more time to file its quarterly report for the first quarter ended June 30 because of the delay in filing its annual report, which was filed June 24. Parlux expects earnings for the June quarter to be 4 cents to 5 cents a share, well short of analysts' forecast of 22 cents. A year earlier, Parlux earned 18 cents a share. The company said the reduction is attributable to a decrease in sales to department stores. Shares were down $3.08 to $5.09. Shares of Bisys Group tumbled 30% after the company said its CEO is leaving and it is exploring strategic alternatives. The financial services outsourcer also warned that earnings for the current fiscal year will be lower than expectations. The company said CEO Russell Fradin plans to leave to pursue another opportunity. Chairman Robert J. Casale will serve as interim president and chief executive while the company searches for a permanent successor. Bisys said it hired Bear Stearns to advise it on strategic alternatives. Meanwhile, the company said earnings for fiscal 2007, which ends next June, will be "substantially below" the current mean First Call estimate. Analysts had targeted earnings of 72 cents a share. Bisys shares recently were trading at $8.44, down $3.48.
Pacific Sunwear ( PSUN) shares fell 8% after the retailer's second-quarter profit dropped by more than half and its third-quarter projection came in well below Wall Street's forecast. The company posted second-quarter earnings of $9.7 million, or 14 cents a share, compared with a year-earlier profit of $21.1 million, or 28 cents a share. Analysts projected earnings of 15 cents a share. Sales rose to $313.7 million from $309.1 million, while same-store sales fell 5.5%. The top line fell short of analysts' forecast of $321 million. Pacific Sunwear said it is comfortable with estimates for third-quarter earnings of 22 cents to 30 cents a share. Analysts, on average, had forecast earnings of 49 cents a share for the quarter. The forecast assumes a continuation of the second-quarter's mid-single-digit negative same-store sales trend. Shares recently changed hands at $13.90, down $1.25. The NYSE's top volume movers Friday were Ford Motor ( F - Get Report), up 10 cents to $7.49; EMC ( EMC), up 20 cents to $10.10; Bristol-Myers ( BMY), down 53 cents to $20.30; Cendant , up 3 cents to $1.92; Analog Devices ( ADI), down $5.41 to $26.49; Bisys; Lucent Technologies , down 2 cents to $2.11; Nortel Networks ( NT), down 3 cents to $1.92; Sprint Nextel ( S - Get Report), up 16 cents to $16.93; and Corning ( GLW), up 31 cents to $18.70. The Nasdaq's heaviest traders included Charter Communications ( CHTR), up 11 cents to $1.32; Cisco Systems ( CSCO), down 7 cents to $19.49; Intel ( INTC), down 21 cents to $17.54; Nvidia ( NVDA), down 61 cents to $23.55; Apple ( AAPL), down 87 cents to $63.20; JDSU ( JDSU), up 1 cent to $2.13; Andrew , down 59 cents to $8.35; and Juniper Networks ( JNPR), down 76 cents to $12.14.