SAN FRANCISCO – Among the companies whose shares are likely to see active trading on Tuesday are Home Depot Inc., J.C. Penney Inc. and Analog Devices Inc.
Abercrombie & Fitch (ANF) is expected to report earnings of 80 cents a share for the third quarter, according to analysts surveyed by Thomson First Call.
Analog Devices Inc. (ADI) is seen reporting a fiscal fourth-quarter profit of 34 cents a share.
Borders Group Inc. (BGP) is seen posting a loss of 18 cents a share for the third quarter.
Health Management Associates (HMA) is expected to report earnings of 34 cents a share for its fiscal fourth quarter.
Analysts expect Home Depot Inc. (HD) to post a per-share profit of 68 cents for the third quarter.
J.C. Penney Inc. (JCP) is expected to report third-quarter earnings of 92 cents a share.
Ross Stores Inc. (ROST) is seen posting a profit of 26 cents a share for the third quarter.
Saks Inc. (SKS) is expected to report a third-quarter loss of 4 cents a share.
Staples Inc. (SPLS) is seen posting a profit of 32 cents a share for the third quarter.
After the closing bell Monday, Agilent Technologies Inc. (A) reported a fiscal fourth-quarter net profit drop of 65% on higher sales. It also plans to buy back almost $3 billion through a modified Dutch auction.
American Financial Group Inc. (AFG) increased its annual dividend 10% to 55 cents from 50 cents a share. The Cincinnati-based insurer said the dividend, when declared, will be paid on a quarterly basis of 13.75 cents a share starting in January.
American International Group (AIG) said late Monday that third-quarter net income dropped 36% as the giant insurer absorbed large hurricane losses. Net income came in at $1.72 billion, or 65 cents a share, down from a restated $2.69 billion, or $1.02 a share, a year earlier. Adjusted income was $1.8 billion, or 68 cents a share, compared with a restated $2.34 billion, or 89 cents a share, a year earlier. Hurricane Katrina and other catastrophes cost the company $1.57 billion, or 60 cents a share, in the third quarter, compared to $512 million, or 19 cents a share, last year, AIG said.
Bob Evans Farms Inc. (BOBE) reported a fiscal second-quarter profit which was helped by asset sales.
Colonial Properties Trust (CLP) estimated losses from Hurricane Wilma of $500,000 to $800,000 after insurance recoveries, or 1 cent to 2 cents on both a per-share earnings and funds-from-operations basis. The Birmingham, Ala. real estate investment trust said it hadn't previously included the estimate in its fourth-quarter outlook. The company said the majority of the losses were related to one office building that it owns in Miami and a partially-owned office in Ft. Lauderdale, Fla.
Corning Inc. (GLW) said it continues to expect fourth-quarter sales in the range of $1.18 billion to $1.24 billion, and earnings of 21 cents to 23 cents a share, excluding special items. The Corning, N.Y.-based diversified technology company released the statement prior to Chief Operating Officer Peter Volanakis' presentation to investors on Tuesday. Volanakis will also reaffirm expectations for the company's telecommunications segment, including sequential sales volume down 4% to 7%, sequential fiber and cable sales down 10% to 15%, and sequential hardware and equipment sales consistent with the third quarter, the company said.
Gilead Sciences Inc. (GILD) said that data from a five-year study indicates that its hepatitis B drug, Hepsera, showed sustained efficacy and safety. In the study, which includes the first prospective set of liver biopsies following five years of oral antiviral therapy, treatment with Hepsera resulted in regression of liver fibrosis in 75% of patients with hepatitis B "e" antigen-negative. Liver fibrosis is a result of chronic liver inflammation. The study results were presented at the annual meeting of the American Association for the Study of Liver Diseases in San Francisco.
Jo-Ann Stores Inc. (JAS) reported a third-quarter net loss of $4.1 million, or 18 cents a share. The fabric and craft retailer posted restated net earnings of $6.9 million, or 30 cents a share, for the same period a year ago. Revenue rose to $474.2 million compared with restated revenue of $448.3 million a year ago. Same-store sales rose 0.7% compared with a decrease of 0.9% last year. The company forecast fourth-quarter same-store sales to range from a decline of 3% to an increase of 1%, compared with an increase of 4.3% from the year-ago period. Jo-Ann also said it's unlikely that it will be in a position to deliver earnings improvement until at least the second half of next year.
Members of Northwest Airlines' (NWACQ) pilots union have signed off on $215 million in temporary cost cuts that will provide the Air Line Pilots Association more time to negotiate a new labor deal with the bankrupt carrier, the union said late Monday. Some 64% of the voting members approved the measure, while 36% voted against it, according to ALPA.
Mossimo Inc. (MOSS) reported third-quarter net earnings of $637,000, or 4 cents a share. During the same period a year ago, Mossimo reported a net loss of $125,000, or a penny a share. The Santa Monica, Calif.-based footwear and apparel company posted revenue of $6.77 million vs. $4.93 million. It also said its agreement with Hudson's Bay Co. (HBC) has expired, and there are no plans to renew it.
Progress Energy Inc. (PGN) said Chief Financial Officer Geoffrey Chatas has resigned to pursue other interests. The Raleigh, N.C.-based energy company said Chatas will remain with the company during a transition period, and that Peter Scott III, president and chief executive officer of its Progress Energy Service Co. unit, is assuming the CFO title in addition to his current role. The moves are effective immediately. Chatas' departure doesn't involve issues with accounting practices, financial statements or internal controls, Progress said.
Ruth's Chris Steak House Inc. (RUTH) reported third-quarter net earnings of $368,000, or 2 cents a share. During the same period a year ago, the chain restaurant operator reported a net loss of $4.62 million, or 39 cents a share. Pro forma earnings were 11 cents a share for the quarter. Orlando, Fla.-based Ruth's Chris posted revenue of $46.5 million compared with $42.2 million last year. Ruth's Chris also said its same-store sales increased by 10.7% at company-owned restaurants, excluding locations damaged by Hurricane Katrina. Same-store sales were up 3% at franchised restaurants. Looking ahead, the company expects fourth-quarter earnings of 17 cents to 19 cents a share, excluding items. Ruth's Chris sees comparable sales up 4.5% to 5.5% in the quarter.
Talx Corp. (TALX) declared a 3-for-2 stock split. The split, to be distributed as a 50% stock dividend, is payable Jan. 17 to shareholders of record as of Dec. 19, said the St. Louis-based provider of payroll and human resources services.