Movado Group Inc said it is not in compliance with a financial covenant as it reported a fourth-quarter loss and the watch maker discontinued its dividend, sending its shares down as much as 14 percent.
Teen-clothing retailer Hot Topic Inc posted a 7.1 percent rise in March same-store sales, riding on strong DVD sales of the popular teen vampire movie "Twilight," and raised its first-quarter earnings outlook.
Consumer-goods maker Chattem Inc reported quarterly results below market estimates, hurt by a 45 percent drop in international revenue, and lowered the upper end of its earnings outlook for the current financial year.
The Diadora group could be changing hands. The financial companies Orlando Italy and Atlantis Capital would be well positioned to take over the group and are believed to have already made bids to acquire the Italian sports equipment and clothing specialist.