SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Wendy's International Inc., Univision Communications, Novell Inc. and Starbucks Corp.
After Thursday's closing bell, Wendy's International Inc. (WEN) said it plans to explore strategic alternatives for its Baja Fresh Mexican Grill chain and expand its board of directors from 12 to 15 members, bowing to pressure from an investor. See full story.
Chartered Semiconductor Manufacturing (CHRT) affirmed its outlook for the first quarter. In January the semiconductor foundry forecast quarterly income of $15 million, plus or minus $5 million, and revenue of $356 million, plus or minus $4 million.
Checkpoint Systems Inc. (CKP) said fourth-quarter net income was $12.4 million, or 31 cents a share. During the same period last year, the company reported a net loss of $29.3 million, or 74 cents a share. Pro forma fourth-quarter income was 38 cents, up from 30 cents last year. Analysts polled by Thomson First Call had expected per-share income of 36 cents. The manufacturer of retail security products said quarterly revenue was $193.4 million, up from $189 million last year.
Credence Systems Corp. (CMOS) reported a fiscal first-quarter net loss of $4.05 million, or 4 cents a share, vs. a net loss of $36.3 million, or 41 cents a share, in the year-ago period. Excluding certain items, the company reported a profit of 2 cents a share compared with a loss of 17 cents a share last year. Revenue at the Milpitas, Calif.-based semiconductor component maker rose to $118.2 million from $93.9 million. Analysts polled by Thomson First Call had forecast a loss of a penny a share on revenue of $115 million.
Bankrupt Delta Air Lines Inc. (DALRQ) said its net loss for the month of January totaled $300 million and that it ended the month with $2.1 billion in unrestricted cash. The monthly net loss, which was narrower than the $315 million a year ago, includes $87 million in items related to its restructuring. The company reported an operating loss of $147 million in January. Delta also said it hedged 26% of its jet fuel needs at $1.75 a gallon in February, a strategy it expects to continue.
Denny's Corp. (DENN) said same-restaurant sales rose 4.6% during the four-week period ended Feb. 22 compared with the year-ago period. The Spartanburg, S.C.-based restaurant chain said check averages were up 8.7% and guest counts were down 3.8% for the period.
Finisar (FNSR) reported fiscal third-quarter net earnings of $8.3 million, or 3 cents a share. During the year-ago period, Finisar posted a net loss of $33 million, or 15 cents share. Pro forma earnings were 3 cents a share for the quarter. A year ago, the pro forma loss was 4 cents a share. Revenue at the Sunnyvale, Calif.-based optical equipment maker rose 28% to $93.5 million from $73.1 million a year ago. Analysts polled by Thomson First Call had forecast third-quarter results to be breakeven on a per-share basis. See After Hours column.
Genworth Financial Co. (GNW) said General Electric Co.'s (GE) secondary public offering of Genworth's Class A stock has priced at $32.75 each. Around 71 million shares will be sold and Genworth said it will not receive any proceeds. The Richmond, Va.-based insurance holding company also said it will buy back 15 million shares of Class B stock directly from GE for $479 million. Following the completion of the transactions, GE will not own any shares of Genworth's common stock and will receive net proceeds of $2.8 billion. GE also reaffirmed its first-quarter earnings forecast of 38 cents to 40 cents a share, and its 2006 earnings outlook of $1.94 to $2.02 a share.
Longs Drug Stores Corp. (LDG) said preliminary February retail drug store comparable sales increased 1.9% from last year. The retailer added that preliminary February retail drug store sales increased 2.7% to $360.8 million from the $351.5 million, while total revenue increased 9.4% to $387.7 million from $354.3 million a year ago.
In its midquarter update, Novellus Systems Inc. (NVLS) reaffirmed its first-quarter sales and earnings per share targets. At the same time, the chip-equipment provider narrowed its orders forecast to a range of $400 million to $420 million, versus its prior forecast of $385 million to $420 million. Novellus Systems estimates first-quarter sales between $345 million to $355 million. It forecast earnings per share, including stock option expensing charges, in the range of 18 cents to 21 cents.
Opsware Inc. (OPSW) reported a fourth-quarter net loss of $3.32 million, or 3 cents a share, compared with a net loss of $2.14 million, or 2 cents a share, during the year-ago period. Revenue at the Sunnyvale, Calif.-based software company rose to $18.6 million from $11.6 million. Analysts surveyed by Thomson First Call had forecast a fourth-quarter loss of a penny a share on revenue of $18 million.
Network software provider Novell Inc. (NOVL) said its fiscal first-quarter profit sank from a year ago, when results had been boosted by a large gain from a legal settlement. See full story.
Pep Boys - Manny, Moe & Jack (PBY) said the fourth-quarter net loss was $22.7 million, or 42 cents a share, compared with a net loss of $9.7 million, or 18 cents a share, during the same period last year. The pro forma quarterly per-share loss was 24 cents, matching last year's result. Analysts polled by Thomson First Call had expected a per-share loss of 19 cents. Fourth-quarter revenue for the vehicle repair and maintenance company was $549.8 million, down from $553.4 million last year. Analysts were looking for revenue of $553 million.
Source Interlink Companies Inc. (SORC) said it will explore strategic alternatives to enhance stockholder value. The Bonita, Fla.-based entertainment company has hired an affiliate of Yucaipa Companies LLC as a consultant. Yucaipa is an affiliate of AEC Associates LLC, the largest single stockholder of Source Interlink.
Starbucks Corp. (SBUX) reported an 8% jump in same-store sales for February amid an overall revenue bounce of 25% to $468 million. The cafe chain said both seasonal products and strong demand for its standard beverages drove the sales growth, as well as expanded food offerings. Starbucks added that it opened 744 new outlets worldwide in the 21 weeks to February 26, ending with a grand total just shy of 11,000.
Spanish-language media company Univision Communications Inc. (UVN) said its fourth-quarter profit declined sharply on charges related to job cuts and other items. See full story.