SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are General Motors Corp., Accenture Ltd., TD Ameritrade Holding Corp. and Red Hat Inc.
Robbins & Myers Inc. (RBN) is expected to report a fiscal second-quarter profit of 14 cents a share, according to analysts polled by Thomson First Call.
Ruby Tuesday Inc. (RI) is seen posting fiscal third-quarter earnings of 46 cents a share.
Steelcase Inc.'s (SCS) fourth-quarter per-share profit is expected to be 11 cents.
After Tuesday's closing bell, General Motors Corp. (GM) filed its delayed annual report with the SEC and said it would restate financial results for financing arm GMAC from 2003 through the third quarter of 2005. See full story. See After Hours column.
Accenture Ltd. (ACN) said fiscal second-quarter net income came in at $69.7 million, or 11 cents a share, down 67% from $209.8 million, or 35 cents a share, a year earlier. The consulting firm said the profit decline was caused by a $450 million, pre-tax provision related to contracts with Britain's National Health Service. Without that, earnings in the period would have been 38 cents a share, ahead of the company's forecasts.
Standard & Poor's is changing the makeup of the S&P 500 index, with Boston Properties Inc. (BXP) replacing Cinergy Corp. (CIN) after the close of trading Friday, and Kimco Realty Corp. (KIM) replacing Jefferson-Pilot Corp. (JP) after Monday's close. See full story.
Federated Department Stores (FD) said it plans a 2-for-1 stock split if shareholders approve a doubling in the number of common shares. Federated said it would seek that authorization at the company's May 19 annual meeting. Shareholders would get an additional share of Federated stock for every share they own, bringing the total float to 1 billion shares.
H.B. Fuller Co. (FUL) said first-quarter net income was $15.3 million, or 52 cents a share, up from $6.5 million, or 22 cents a share, last year. Analysts polled by Thomson First Call had expected per-share income of 27 cents. The maker of adhesives and other specialty chemical products said first-quarter revenue was $348.3 million, down from $353 million last year.
Loral Space & Communications Inc. (LORL) said the fourth-quarter net loss was $15 million, compared with a net loss of $43 million last year. The satellite communications company said quarterly revenue was $197 million, up from $106 million last year. Loral emerged from bankruptcy on Nov. 21.
Red Hat Inc. (RHAT) said its quarterly profit more than doubled and revenue shot up 37% as subscriptions for its open-source software surged, helping its results slightly outpace expectations. See full story.
Paychex Inc. (PAYX) reported fiscal third-quarter net earnings of $114.5 million, or 30 cents a share, up 23% from $92.8 million, or 24 cents a share, during the year-ago period. Revenue at the Rochester, N.Y.-based provider of payroll and human resources services rose 15% to $430.6 million from $373.9 million. Analysts polled by Thomson First Call had forecast third-quarter earnings of 31 cents a share on revenue of $426 million.
TD Ameritrade Holding Corp. (AMTD) raised its quarterly earnings forecast after customers of the online broker traded more than expected and increased the amount of money they saved with the company. See full story.
Tibco Software Inc. (TIBX) reported a first-quarter profit that was down 47% from year-ago earnings as the business-software company began accounting for stock-based-compensation expenses. See full story.