SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Google Inc., Bayer AG, Palm Inc. and Solectron Corp.
After Thursday's closing bell, Standard & Poor's said Google Inc. (GOOG) will be added to the S&P 500 Index as of the close on March 31. See full story. See After Hours column.
3Com Inc. (COMS) reported a third-quarter net loss of $32.8 million, or 8 cents a share, vs. a net loss of $53 million, or 14 cents a share, in the year-ago period. Revenue at the Marlborough, Mass.-based networking company rose 10% to $177.6 million from $161.2 million last year. Analysts polled by Thomson First Call had forecast revenue of $192 million.
Airspan Networks Inc. (AIRN) reported a fourth-quarter net loss $3.31 million, or 8 cents per basic share. In the same period last year, the company reported a net profit of $3.28 million, or 7 cents per basic share. Revenue at the Boca Raton, Fla.-based provider of fixed and wireless voice and data systems rose to $37.9 million from $37.5 million. Analysts polled by Thomson First Call had forecast a loss of 4 cents a share on revenue of $36 million.
Cephalon Inc. (CEPH) said a Food and Drug Administration advisory committee voted not to recommend FDA approval of Sparlon, the company's investigational treatment of attention-deficit/hyperactivity disorder in children and adolescents. Cephalon said the committee decided that Sparlon is effective for its intended use but recommended that the company collect additional data to support the safety of the drug. As a result, Cephalon lowered its 2006 sales forecast by $100 million to a range of $1.45 billion to $1.5 billion.
Electroglas Inc. (EGLS) said the third-quarter net loss was $4.22 million, or 19 cents a share, compared with a net loss of $8.79 million, or 40 cents a share, during the same period last year. The provider of semiconductor capital equipment said quarterly revenue was $11.3 million, up from $8.43 million last year. Analysts polled by Thomson First Call had expected revenue of $11 million.
The Finish Line Inc. (FINL) said fourth-quarter net income was $28.1 million, or 58 cents a share, compared with $28.2 million, or 57 cents a share, reported a year ago. The athletic wear retailer said sales rose 10% to $399.2 million from last year's $361.4 million. Excluding one-time charges, the company's earnings would have been 63 cents a share. Analysts polled by Thomson First Call expected, on average, earnings of 59 cents a share.
Legg Mason Inc. (LM) named James W. Hirschmann as president of the company effective May 1, taking the role held by Raymond "Chip" Mason who will continue as chairman and chief executive. See full story.
Palm Inc. (PALM) said its quarterly profit surged, helped by a tax allowance, and revenue jumped 36% on strong demand for its Treo handheld communications devices. See full story.
Smart Modular Technologies Inc. (SMOD) said second-quarter net income was $783,000, or a penny a share, compared with $7.78 million, or 15 cents a share, during the same period last year. The manufacturer of memory modules said quarterly revenue was $163.7 million, compared with $164.4 million last year.
Solectron Corp. (SLR) reported a second-quarter profit, reversing a loss a year ago, as the electronics contract manufacturer was helped by a gain from its discontinued operations. See full story.
Wet Seal Inc. (WTSLA) said it lost $2.8 million, or 5 cents a share, in the fiscal fourth quarter compared with last year's loss of $47.8 million, or $1.31 a share. On an operating basis, the company made $684,000, including a $6.8 million non-cash stock compensation charge. Without the charge, the company would have made $7.4 million, or 5.3% of net sales. Total sales climbed 18.6% to $141.4 million while same-store sales surged 44.6%.