SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are J. Crew Group Inc., Wendy's International Inc. and Rambus Inc.
3Com Corp. (COMS) is expected to report earnings per share for the fourth quarter of 29 cents, according to analysts polled by Thomson First Call.
Arrow International Inc. (ARRO) is seen posting third-quarter per-share income of 33 cents.
Biomet Inc. (BMET) is expected to report earnings per share for the fourth quarter of 46 cents.
CardioTech International (CTE) is seen posting a fourth-quarter per-share loss of 2 cents.
ConAgra Food Inc. (CAG) is expected to report per-share income for the fourth quarter of 29 cents.
IHS Inc. (IHS) is expected to reporting second-quarter per-share income of 22 cents.
Image Entertainment (DISK) is seen posting earnings per share for the fourth quarter of 5 cents.
McCormick & Co. (MKC) is expected to post 30 cents for second-quarter per-share income.
Merix (MERX) is seen reporting fourth-quarter earnings per share of 14 cents.
Paychex (PAYX) is expected to post earnings per share for the fourth quarter of 32 cents.
Red Hat Inc. (RHAT) is expected to report per-share income for the first quarter of 9 cents.
Robbins & Myers (RBN) is seen reporting third-quarter earnings per share of 24 cents.
After Tuesday's closing bell, J. Crew's (JCG) initial public offering of 18.8 million shares priced at $20, raising $376 million.
Rambus (RMBS) said it may have to restate its earnings due to auditing discrepancies related to its practice of issuing stock option grants to employees.
Wendy's (WEN) said it expects to post second-quarter per-share earnings below the same period last year, due to charges for its voluntary early-retirement plan, job cuts and other cost-cutting moves. Also, the company confirmed the plan to spin off its 82.75 percent stake in Tim Hortons Inc. (THI).
Apogee Enterprises Inc. (APOG) said higher revenue helped boost first-quarter net earnings to $4.74 million, or 17 cents a share, from $3.94 million, or 14 cents a share, during the same period in the prior year.
Applied Micro Circuits Corp. (AMCC) said it has received a subpoena from the U.S. Attorney for the Northern District of California requesting documents relating to the company's stock-option practices.
AT&T Inc.'s (T) subsidiary AT&T Communications- East Inc. has agreed to pay the government $2.9 million to settle claims that it defrauded the General Services Administration from 1998 to 2001. The civil settlement resolves allegations that the company defrauded the United States by knowingly passing through to government customers costs and fees it should have paid.
Bassett Furniture Industries Inc. (BSET) reported second-quarter earnings of $2.9 million or 24 cents a share, compared with $1.04 million, or 9 cents a share, in the same period last year, as sales increased and costs dropped.
BB&T Corp. (BBT) said it has approved the buyback of up to 50 million of its shares.
Cheesecake Factory Inc. (CAKE) said it expects second-quarter same-restaurant sales to be flat to slightly negative, in light of the macro trend impacting the restaurant industry.
CNet Networks Inc. (CNET) said it has received a grand jury document subpoena from the U.S. Attorney for the Northern District of California requesting records relating to the granting of stock options.
Coldwater Creek Inc. (CWTR) said the Nasdaq has indicated that Coldwater's filing delinquency for the April quarter has been cured. Last week, the clothing company filed a Form 10-Q/A with the Securities and Exchange Commission, curing the delinquency.
Exfo Electro-Optical Engineering Inc. (EXFO) said higher sales helped boost third-quarter net income to $3.5 million, or 5 cents a share, from $300,000, or breakeven on a per-share basis, during the same period in the prior year.
H.B. Fuller Co. (FUL) reported second-quarter net earnings of $19.5 million, or 65 cents a share, up 21 percent from $16.2 million, or 56 cents a share, during the year-ago period. The St. Paul, Minn.-based chemical products company posted revenue of $388.5 million vs. $387.9 million.
Hexcel Corp. (HXL) said it sees a "likely" reduction in expected growth for commercial aerospace revenue during the second half of 2006 and the first half of 2007. The structural materials company's outlook change follows EADS' Airbus' view that deliveries of certain aircraft would be delayed, particularly in 2007.
Minerals Technologies Inc. (MTX) forecast lower-than-expected second-quarter results. The New York-based minerals company cited slower-than-expected project ramp-ups, delays in equipment installations, higher energy and raw material costs.
McClatchy Co. (MNI) completed acquiring Knight Ridder Inc. (KRI) in a $6.5 billion deal. Knight Ridder shares, which were converted into the right to receive $40 in cash and a fraction of a McClatchy share, will no longer be traded.
Nike Inc. (NKE) in its fiscal-fourth-quarter earned $332.8 million, or $1.27 a share — down from $349.5 million, or $1.30 a share, in the year-ago quarter.
The Food and Drug Administration has approved Novartis AG's (NVS) drug Exelon for the treatment of mild to moderate dementia associated with Parkinson's disease.
Vector Group Ltd. (VGR) said it plans to offer $85 million of senior convertible debentures due 2026 in a private placement. The debentures will be convertible into Vector common stock at the holder's option at a price to be determined, the Miami-based tobacco holding company said.
Wells Fargo & Co. (WFC) said it has approved increasing its quarterly cash dividend 7.7 percent to 56 cents a share from 52 cents a share. The company also approved a 2-for-1 stock split on its common stock in the form of a 100 percent stock dividend.