Jones Apparel Group, Inc (JNY) declined 12.2% or 50 cents to $3.69 after the wholesaler of branded apparel, footwear and accessories announced that for fiscal 2008, it has lowered adjusted earnings per share from continuing operations to a range of $0.85 to $0.88, compared with 2007 adjusted earnings per share from continuing operations of $1.26.

Microsoft Corporation (MSFT) lost 8.9% or $1.73 to $17.64 after the world’s largest software developer said that it plans to cut up to 5,000 jobs over the next 18 months and that it can not estimate the annual profit for the current fiscal year.

The company said that for the period ended December 31 it had net income of $4.17 billion, or 47 cents a share compared with $4.71 billion or 50 cents a share a year earlier. Revenue rose 1.6% to $16.63 billion.

Nokia Corporation (NOK) lost 12.5% or $1.72 to $11.97 after the world\''s top mobile phone maker reported fourth quarter sales fell 19.5% to €12.7 billion from €15.8 billion a year ago. Net income in the quarter fell 69% to €576 million or 15 euros per diluted share compared to net income of €1.84 billion or 47 euros per share a year ago.

Raymond James Financial, Inc (RJF) surged 17.5% or $2.83 to $19.00 after the large U.S. brokerage company said first quarter revenues fell 3% to $663.9 million from $685.8 million a year ago. Net income in the quarter rose 9% to $61.1 million or 52 cents per diluted share compared to net income of $56.2 million or 47 cents per share a year ago.

The Sherwin-Williams Company (SHW) decreased 14% or $7.76 to $47.67 after the largest producer of paints and coatings in the world reported fourth quarter operating revenues fell 8% to $1.70 billion from $1.85 billion a year ago. Net income in the quarter fell 50% to $50.2 million or 42 cents per diluted share compared to net income of $100.8 million or 80 cents per share a year ago.

Southwest Airlines Co (LUV) added 15.0% or $1.26 to $9.65 after the passenger airline reported fourth quarter operating revenues rose 9.7% to $2.7 billion from $2.5 billion a year ago. Net loss in the quarter was $56 million or 8 cents per diluted share compared to net income of $111 million or 15 cents per share a year ago.