SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Monday's session are Circuit City Stores Inc., Michaels Stores Inc. and Hancock Fabrics Inc.
CarMax Inc. (KMX) is expected to report first-quarter earnings of 38 cents a share, according to analysts polled by Thomson First Call.
Circuit City Stores Inc. (CC) is expected to report first-quarter earnings of a penny a share.
Progressive Gaming Inc. (PGIC) is seen posting breakeven results on a per-share basis in its first quarter.
Coca-Cola Co. (KO) said it has renewed and expanded its global marketing partnership with the National Basketball Association. Financial terms of the deal weren't disclosed. Under the agreement, Coca-Cola and the NBA will create themed promotions to engage young people through digital programs, among other initiatives. Advertising will appear during international telecasts of NBA games and programming in 215 countries and in 46 languages, Coca-Cola added.
Hancock Fabrics Inc. (HKF) said that corrections for an actuarial error related to pension expense and benefit obligations will result in non-cash charges over prior years. The Baldywyn, Miss., fabric retailer said the cumulative after-tax impact over the period from 1988 through 2004 totals about $1.2 million, or 6 cents a share. The company also said it believes that its financial statements for the first three quarters of 2005, each quarter of 2003 and 2004, and each of the fiscal years ended Feb. 2, 2003 through Jan. 30, 2005 need to be restated and should no longer be relied upon.
Lexar Media Inc. (LEXR) shareholders approved a takeover bid from Micron Technologies Inc., according to a statement from Lexar.
Marsh Supermarkets Inc. (MARSA) (MARSB) said it has filed a complaint naming MSH Supermarkets Holding Corp., MS Operations Inc., Cardinal Paragon Inc., and Drawbridge Special Opportunities Advisors LLC as defendants. The complaint asks for a declaratory judgment clarifying the company's rights and responsibilities under its May 2 merger agreement with MSH Supermarkets. Marsh, an Indianapolis supermarket operator, also said it has filed preliminary proxy materials with respect to the MSH Supermarkets merger. At this time, the board hasn't changed its recommendation of the merger with MSH Supermarkets, the company added. The complaint was filed in Superior Court in Hamilton, Ind.
Michaels Stores Inc. (MIK) has received a grand jury subpoena requesting documents relating to the granting of stock options dating back to 1996, according to a filing with the Securities and Exchange Commission. The Irving, Texas, arts and crafts retailer last week said it opened an internal probe into its stock option practices focused principally on the time period from 1990 to 2001.
Toyota Motor Corp. (TM) is considering two locations in Tennessee to build what would be its eighth North American vehicle assembly plant, according to a report in the online edition of the Wall Street Journal over the weekend citing Tennessee Gov. Phil Bredesen. According to the report, Bredesen said Tennessee is on a relatively short list of sites in different U.S. states Toyota is considering.
Willbros Group Inc. (WG) said it has filed its results for the third quarter of 2005, for the year ended Dec. 31, 2005, and for the first quarter of 2006. For the first quarter of 2006, Willbros reported a net loss of $4.59 million, or 22 cents a share, compared with a net loss of $9.9 million, or 47 cents a share, during the year-ago period. The Houston-based contractor to the oil, gas and power industries posted revenue of $248.5 million vs. $131.6 million.
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