SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Monday's session are Alcoa Inc., Genentech Inc., Delphi Corp. and Delta Air Lines Inc.
Alcoa Inc. (AA) is expected to report third-quarter earnings of 29 cents a share, according to analysts polled by Thomson First Call.
Genentech (DNA) is seen posting a third-quarter per-share profit of 30 cents.
Robbins & Myers Inc.'s (RBN) fourth-quarter is expected to show a profit of 27 cents a share.
After Friday's closing bell, bankrupt Delta Air Lines (DAL) said it shares will stop trading on the New York Stock Exchange by Oct. 13, and that the exchange has applied to delist the stock. The shares are below the 30-day $1 minimum price requirement, the NYSE said.
Avon International Holdings Co., a unit of Avon Products Inc. (AVP) , has agreed to buy two Cayman Island companies for $154 million, according to a filing with the Securities and Exchange Commission. The two companies were acquired from Sarastro Ltd. Ldc., a Bahamian company. As a result of the acquisition, Avon said it will indirectly acquire an unnamed Colombian company. According to the filing, that company will in turn have acquired the Avon business in Colombia.
Comstock Homebuilding Cos. Inc. (CHCI) said its total new order revenue fell 55.9% in the third quarter, to $45.1 million from $102.3 million.
Delphi Corp. (DPH) filed Saturday for bankruptcy.
DaimlerChrysler AG's (DCX) Chrysler Group said it will voluntarily recall nearly 600,000 vehicles.
Dominion Homes Inc. (DHOM) said its third-quarter earnings will come in below analyst expectations due to lower-than-anticipated home sales and deliveries. One analyst polled by Thomson First Call currently expects earnings of 38 cents a share. The Dublin, Ohio-based company said it sold 433 homes during the third quarter compared with 598 homes a year ago, a drop of 28%. The sales value of the homes sold during the third quarter decreased 25%, to $81.8 million from $109.4 million last year.
Flagstar Bancorp Inc. (FBC) said that loan production in the third quarter rose 22.2%, to $8.8 billion from $7.2 billion during the same period a year ago. The Troy, Mich.-based bank holding company noted that third-quarter production was up 17.3% from the quarter ended June 30.
IPC Holdings Ltd. (IPCR) said it expects Hurricanes Katrina and Rita to have an impact of $650 million to $750 million on its third-quarter results.
A federal court declined to reconsider a ruling that upheld several patent-infringement claims against Research In Motion Ltd. (RIMM) , maker of the popular BlackBerry handheld devices.
Tribune Co. (TRB) said Patrick Mullen, president of its broadcasting group, has resigned. Mullen was named president of the broadcasting division in 2003. Separately, Fitch Ratings downgraded Tribune Co.'s issuer default rating to A- from A. The outlook is negative. The agency said the action reflects its expectation that debt levels will remain higher than historical levels through 2006 as a result of a debt-funded tax payment.
WD-40 Co. (WDFC) revised its 2005 earnings forecast to $1.55 to $1.65 a share. It had previously forecast earnings of $1.50 to $1.55 a share. The company also rescheduled its fourth-quarter earnings release for Nov. 7. The San Diego-based lubricant maker said it needs more time to complete the audit of internal controls over financial reporting.
W.R. Berkley Corp. (BER) said it expects after-tax losses in the third quarter of $32 million, or 24 cents a share, due to Hurricanes Katrina and Rita. The company's pre-tax estimates include losses of $35 million from Katrina and $15 million from Rita, and are net of applicable reinsurance and reinstatement premiums.