Shares in Fisher & Paykel Appliances fell 13 percent early after the company lowered its expected full year earnings before interest and tax to a range between $63 million and $70 million, after previously expecting around $78m.
The company today reported a half year normalised profit after tax of $11.3m for the six months to the end of September, up from $800,000 a year earlier, as conditions remained challenging.
Shares in insurer and fund manager Tower gained nearly 3 percent after that company said its net profit for the year to September was up 16 percent to $58.1 million.
Around 10.25am the benchmark NZX-50 index was down 4.34 points to 3260.33, having fallen 4.5 points yesterday.
F&P Appliances lost 8c to 52, Freightways was down 3c to 303, and Mainfreight eased 2c to 725, while retailer Hallenstein Glasson fell 16c to 442 on low volume.
Tower gained 5c to 196, Tourism Holdings lifted 2c to 72, and NZX added 2c to 150.
Markets in the United States were closed for the Thanksgiving holiday, while European stocks mostly rose, buoyed by positive US economic data and statements by German Chancellor Angela Merkel seeking to ease tensions on markets anxious over eurozone debt strains.
NZPA