Shares of NovaStar Financial ( NFI) took a nose-dive after it reported losing $408.1 million from continuing operations, or $43.99 a share, in the third quarter. That reverses last year's $1.81 per-share profit. NovaStar also believes there's a "high likelihood" it will be expelled from the NYSE following a Dec. 5 review, at NovaStar's request, of that previously announced determination.

The Kansas City, Mo., firm had been among numerous subprime-mortgage lenders caught in the first wave of credit-market turmoil earlier this year, and its stock has lost a tremendous amount of value over the past few months. Today, shares surrendered nearly another 60% to $1.84.

Elsewhere, Punk Ziegal shaved down Bear Stearns' ( BSC) price target, and Bank of America sharply lowered its fourth-quarter bottom-line estimate to a loss from the prior profit expectation, as Standard & Poor's downgraded Bear's credit rating to A from A-plus. S&P also has a negative outlook on the New York-based brokerage.

This all follows Bear's prediction on Tuesday that it will take $1.2 billion in fourth-quarter writedowns tied to mortgage-related securities. Shares had initially climbed as the company also sketched out making a steady recovery from the subprime mess in which it has been mired. Today, shares retreated 2.3% to $100.88.

Video-games retailer GameStop ( GME) was up 3.8% ahead of the company's third-quarter earnings Tuesday. Analysts expect GameStop to report earnings of 23 cents a share on $1.42 billion in revenue. GameStop was up $2.03 to $55.90.

BEA Systems ( BEAS) fell 4% after Oracle ( ORCL) CEO Larry Ellison said Oracle is likely to go after other targets instead of renewing its bid for BEA. Oracle had offered $6.7 billion, or $17 a share. BEA responded with a demand of $21 a share, or $8.2 billion. BEA was recently down 70 cents to $16.70.

On the earnings front, Zoll Medical ( ZOLL) rose after delivering a fiscal fourth-quarter earnings and revenue beat Thursday morning. The company, which focuses on noninvasive resuscitation devices and software, said net income increased 26% to $6.8 million, compared to $5.4 million in the prior-year period, and earnings per share increased 22% to 33 cents, compared to 27 cents a share in the fourth quarter of last year. Revenue increased 25% to $92.8 million, compared to $74.2 million in the year-ago period. Analysts surveyed by Thomson Financial were expecting 31 cents a share on revenue of $85.21 million. Zoll's shares rose $2.13, or 9.2%, to $25.19.

China Shenghuo Pharmaceutical Holdings ( KUN) posted third-quarter net income of $900,000, or 4 cents a share, compared with $300,000, or 2 cents a share, in the year-ago quarter. Net sales fell to $4.2 million, from $5.1 million in the 2006 quarter, resulting from the company's adoption of more stringent credit policies which caused a shift in its customer base and a decline in sales volume.

The company revised its guidance and now expects full-year revenue of between $20 million and $22 million and net earnings of between $4 million and $5 million, between 20 cents and 25 cents a share for the full fiscal year. It previously predicted revenue between $24 million and $26 million and earnings of between $5 million and $6 million, or between 26 cents a share and 31 cents a share, for the full fiscal year. Shares fell $1.80, or 25%, to $5.52.

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