Stocks to Watch, June 13: Best Buy, Sun Microsystems

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Tuesday's session are Amgen Inc., Best Buy Co. and Sun Microsystems Inc.

Best Buy (BBY) is expected to report earnings per share for the first quarter or 36 cents, according to analysts polled by Thomson First Call.

Goldman Sachs (GS) is seen posting second-quarter per-share income of $4.19.

World Wrestling Entertainment Inc. (WWE) is expected to report fourth-quarter earnings per share of 13 cents.

On Monday, Sun Microsystems's (SUNW) chief financial officer reiterated that the computer server and software maker can still reach 4% operating margins by the fourth quarter of its 2007 fiscal year.

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A.C. Moore Arts & Crafts Inc. (ACMR) named Michael Joyce non-executive chairman. Joyce succeeds William Kaplan, who is retiring as chairman, but will remain a member of the board.

Affiliated Computer Services Inc. (ACS) said its board has authorized a share buyback program of up to $1 billion effective immediately. The Dallas-based provider of business process outsourcing services added that the program represents about 18% percent of the company's outstanding shares at current stock prices.

An AirTran Holdings Inc. (AAI) unit and the International Brotherhood of Teamsters Local 528 said the union has ratified a new collective bargaining agreement covering stock clerks. The union represents 50 stock clerks.

Amgen (AMGN) said its biologic license application for panitumumab as a treatment for metastatic colorectal cancer patients who have failed prior chemotherapy has been granted priority review by the Food and Drug Administration.

Severstal said it is pleased with Arcelor SA's decision to reject a $31 billion offer from Mittal Steel NV (MT) . Arcelor spurned Mittal's bid but mandated that its board explore possible improvements to the Mittal offer at a later date.

Arena Pharmaceuticals Inc. (ARNA) said patients receiving obesity treatment lorcaserin in a study experienced a highly statistically significant average weight loss and reductions in other physical measures, including body mass index and waist and hip circumference.

The medical diagnostics division of Bayer AG's (BAY) Bayer Healthcare unit is planning a $100 million expansion of its facility in East Walpole, Mass.

Cardinal Health Inc. (CAH) said it expects to report earnings of $3.50 to $3.70 a share, excluding onetime items but including equity compensation expenses, for 2007. Analysts are currently looking for a per-share profit of $3.66, according to Thomson First Call.

Carreker Corp. (CANI) said a board committee established in November has assessed the company's strategic position and opportunities, and has recommended that the company explore strategic alternatives such as a merger or a sale.

Cephalon Inc. (CEPH) and Takeda Pharmaceutical Co.'s (TKPHF) North America unit said they have agreed to co-promote Provigil in the United States. The co-promotion agreement will run for three years with an option to renew annually. Cephalon, which will retain all responsibility for the development of Provigil, will pay Takeda a royalty.

EResearchTechnology Inc. (ERES) named Michael McKelvey president and chief executive, effective June 23.

FormFactor Inc. (FORM) said it has signed a technology agreement with Hynix Semiconductor Inc. (HXSCF) to provide the Korean-based memory manufacturer with advanced wafer probe cards using FormFactor's proprietary test equipment extension technology.

Lockheed Martin Corp. (LMT) said it has agreed to acquire ISX Corp., a privately held, California-based provider of military decision systems.

Marsh Supermarkets Inc. (MARSA) (MARSB) said it opposes an acquisition offer of $13.625 a share from Drawbridge Special Opportunities Advisors LLC and Cardinal Paragon Inc.

Nabi Biopharmaceuticals (NABI) named Jordan Siegel chief financial officer, effective immediately. Siegel joins Nabi from IVAX Corp. (IVX) , where he was vice president of finance for its pharmaceuticals unit.

OSI Pharmaceuticals Inc. (OSIP) said it presented the positive results from its Phase IIa proof-of-concept study with its dipeptidyl peptidase-IV inhibitor. The study demonstrated that 14-day administration of the inhibitor, when dosed with meals, reduced blood glucose levels in patients with Type 2 diabetes and was generally well-tolerated with no episodes of hypoglycemia.

Penwest Pharmaceuticals Co.'s (PPCO) board appointed Jennifer Good, the president and chief operating officer, to chief executive and a member of the board.