SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are Apple Computer Inc., Advanced Micro Devices Inc., Monsanto Co. and Harley-Davidson Inc.
ASML Holding NV (ASML) is expected to report third-quarter earnings of 11 cents a share, according to analysts polled by Thomson First Call.
Entegris Inc. (ENTG) is seen posting a fourth-quarter profit of 7 cents a share.
Harley-Davidson Inc.'s (HDI) third quarter is expected to show a per-share profit of 90 cents.
Host Marriott Corp. (HMT) is expected to report a per-share loss of 4 cents in its third quarter.
Media General's (MEG) third quarter is expected to show earnings of 40 cents a share.
MGIC Investment Corp. (MTG) is seen posting a per-share profit of $1.52 in its third quarter.
Monsanto Co. (MON) is expected to show a fourth-quarter loss of 51 cents a share.
After Tuesday's closing bell, Apple Computer Inc. (AAPL) said profit rose fourfold on surging sales of iPod music players and Macintosh PC's, but the company's revenue lagged Wall Street expectations.
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Advanced Micro Devices Inc. (AMD) reported a better-than-expected third-quarter profit, helped by surging demand for its chips that power personal computers and corporate servers.
Advo Inc. (AD) said it now expects 2005 net earnings in a range of $1.25 to $1.29 a share. The Windsor, Conn.-based direct mail company also lowered its 2005 pro forma earnings forecast to $1.32 to $1.36 from $1.46 to $1.48. Advo sees 2005 revenue up 11% from a year ago, which is within the range it previously forecast. For the fourth quarter, the company expects earnings of 24 cents to 28 cents a share on revenue growth of 7%.
American Healthways Inc. (AMHC) reported fiscal fourth-quarter net earnings of $8.3 million, or 23 cents a share, down from $9.3 million, or 27 cents a share, last year. Revenue rose to $87.6 million from $71.9 million last year. Excluding the impact of costs associated with the Medicare Health Support pilot program, earnings were 31 cents a share. American Healthways forecast fiscal 2006 net earnings of $1.10 to $1.14, and pro forma earnings of $1.34 to $1.38, on revenue of $412 million to $432 million.
California Pizza Kitchen Inc. (CPKI) reported third-quarter revenue of $124.5 million, up 17.3% from $106.1 million in the same quarter a year earlier. At 7.1%, the increase in same-store sales for the period was lower than last year's 8.7% rise but higher than the expected range of 5.5% to 6.5%, the restaurant operator said.
Colgate-Palmolive Co. (CL) plans to close its facility in Jeffersonville, Ind., by January 2008, and transfer production of its Total toothpaste to a new plant, according to a filing with the Securities and Exchange Commission. The company expects the restructuring plan will cost a total of $550 million to $650 million after-tax, and result in total after-tax charges of $87 million. Colgate expects annual after-tax savings of $250 million to $300 million by the fourth year of the program.
Conn's Inc. (CONN) said late Tuesday that September net sales rose 20.6% to $47.3 million, despite 134 lost store-days due to Hurricane Rita. Same-store sales in the month rose 10.6%.
CNA Financial (CNA) said Hurricane Katrina may cost it about $280 million, after taxes, reinsurance and reinstatement premiums. Gross losses, which exclude taxes and reinsurance, may reach $750 million in CNA's commercial insurance businesses, the company said. Hurricanes Dennis, Ophelia and Rita, which also struck during the third quarter, will probably cost another $20 million, after taxes and reinsurance, CNA added.
El Paso Corp. (EP) said Gulf of Mexico net production currently totals 64 million cubic feet equivalent a day, compared with 205 MMcfe/d prior to Hurricane Katrina and 170 MMcfe/d before Hurricane Rita. The company expects production to be back up to 90 MMcfe/d by Nov. 1, and up to 115 MMcfe/d to 120 MMcfe/d by Dec. 1.
E-Z-Em Inc. (EZEM) reported first-quarter net earnings of $2.55 million, or 23 cents a share, vs. $1.25 million, or 11 cents a share, in the year-ago period. Revenue at the Lake Success, N.Y.-based radiology agent manufacturer rose to $34.8 million from $24 million last year. The company raised its 2006 net earnings forecast to $5 million to $5.6 million from $4.5 million to $5.2 million. E-Z-Em also raised its 2006 revenue forecast by $2 million to a range of $124 million to $127 million.
Gap Inc. (GPS) named a new head of design and product development for the brand.
Medtronic Inc. (MDT) increased its per-share earnings forecasts for fiscal years 2006 through 2008, and reaffirmed its revenue forecasts for the same periods. The company now sees fiscal year 2006 per-share earnings of $2.18 to $2.23; fiscal 2007 earnings of $2.45 to $2.55; and fiscal 2008 earnings of $2.78 to $2.98. It still sees 2006 revenue of $11.1 billion to $11.6 billion; 2007 revenue of $12.2 billion to $13.3 billion; and 2008 revenue of $14 billion to $16 billion. It also affirmed its second-quarter forecast for revenue growth of 14% to 16%. Medtronic attributed the forecasts, in part, to strong operational performance and investments in new technologies.
Oneok Inc. (OKE) said it has agreed to sell natural gas gathering and processing assets in Texas to Houston-based Eagle Rock Energy for $528 million. Tulsa, Okla.-based Oneok said it plans to use the proceeds from the sale to purchase other assets or to reduce debt. The company expects after-tax cash proceeds of $356 million. Additionally, the sale will generate an after-tax book gain of $162 million, which will be recorded in the fourth quarter, Oneok said. The transaction is expected to close Dec. 1.
Research In Motion Ltd.'s (RIMM) board has approved the buyback of 9.5 million shares over the next 12 months.
Rita Medical Systems Inc. (RITA) said it now expects third-quarter revenue to range from $11.1 million to $11.3 million. The Fremont, Calif.-based medical device company had forecast revenue of between $12 million and $12.3 million for the quarter. Additionally, Rita Medical affirmed its previous third-quarter per-share outlook of breakeven to a net loss of 2 cents. The company said its sales were lower than expected due, in part, to the impact of Hurricane Katrina on customers in southeastern U.S.
Titan International Inc. (TWI) said it has received an offer from One Equity Partners LLC, a private equity affiliate of JPMorgan Chase & Co. (JPM) , to acquire Titan for $18 a share. The supplier of wheels and tires for industrial and agricultural equipment said the offer is subject to reaching a definitive agreement, and approvals by the boards of both companies and Titan's shareholders.
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