Stocks to Watch, June 29: Red Hat, 3Com and Disney

Among the companies whose shares are expected to see active trade in Thursday's session are Red Hat Inc. (RHAT), 3Com Corp. (COMS) and Walt Disney Co. (DIS)

Accenture Ltd. (ACN) is expected to report earnings per share for the third quarter of 46 cents, according to analysts polled by Thomson First Cal.

American Greetings Corp. (AM) is seen reporting per-share income for the first quarter of 26 cents.

ATI Technologies Inc. (ATYT) is expected to post third-quarter per-share income of 15 cents.

Constellation Brands Inc. (STZ) is seen reporting first-quarter earnings per share of 32 cents.

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General Mills Inc. (GIS) is seen posting fourth-quarter earnings per share of 61 cents.

Monsanto Co. (MON) is expected to post per-share income for the third quarter of $1.20.

MSC Industrial Direct Co. (MSM) is seen reporting earnings per share for the third quarter of 53 cents.

Research In Motion Ltd. (RIMM) is expected to per-share earnings for the first quarter of 65 cents.

Saba Software Inc. (SABA) is expected to report fourth-quarter per-share earnings of 7 cents.

Greenbrier Cos. (GBX) is expected to post per-share income for the third quarter of 69 cents.

Worthington Industries Inc. (WOR) is expected to report fourth-quarter earnings per share of 40 cents.

After Wednesday's closing bell, Red Hat (RHAT) said its quarterly profit rose 11% and revenue surged on stronger demand for subscriptions to its open-source business software.

Walt Disney's (DIS) board elected John Pepper Jr., former chief executive and chairman of Procter & Gamble Co. (PG) , to be non-executive chairman of the entertainment company, effective Jan. 1.

3Com (COMS) slashed it fourth-quarter loss from a year ago as the networking-equipment maker's sales rose 44% and the company said it would cut 250 jobs in an effort to reduce overall expenses.

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Alexion Pharmaceuticals Inc. (ALXN) said pexelizumab did not achieve a statistically significant reduction in mortality at 30 days following angioplasty, according to preliminary results from a trial. See After Hours column.

Anadarko Petroleum Corp. (APC) said it plans to sell its Canadian unit as part of a refocusing effort related to its pending acquisition of Kerr-McGee Corp. and Western Gas Resources Inc. for $21 billion.

Andrx Corp. (ADRX) said its shareholders have approved the company's $1.9 billion acquisition by Watson Pharmaceuticals Inc. (WPI)

Arrow International Inc. (ARRO) said higher costs lowered third-quarter net income to $13.9 million, or 31 cents a share, from $15.8 million, or 35 cents a share, during the same period in the prior year.

Bristol-Myers Squibb Co. (BMY) said the Food and Drug Administration has granted accelerated approval to Sprycel, an oral inhibitor of multiple tyrosine kinases. The FDA indicated Sprycel for chronic myeloid leukemia, and Philadelphia chromosome-positive acute lymphoblastic leukemia.

Cigna Corp.'s (CI) board has raised the company's stock buyback program by $500 million, according to the Philadelphia insurer.

Computer Sciences Corp. (CSC) said it has signed a contract with AMP Ltd. for $146 million. The new deal, which replaces a previous agreement between the two companies, will last four years.

Duke Energy Corp. (DUK) said its board has authorized management to pursue creating two separate publicly traded companies by spinning off its natural gas businesses to shareholders. Duke aims to complete the transaction by Jan. 1.

Goodyear Tire & Rubber Co. (GT) , as the next step in its sweeping agenda to cut costs and reshape the company, said it plans to cull 150 jobs in Europe in an effort to save $10 million a year.

Herman Miller Inc. (MLHR) reported fourth-quarter earnings of $25 million, or 38 cents a share, up from $21.6 million, or 31 cents a share, in the same period last year.

IHS Inc. (IHS) posted second-quarter earnings of $12.9 million, or 24 cents a share, compared with $8.6 million or 16 cents a share, during the same period last year.

Image Entertainment Inc. (DISK) reported a fourth-quarter net loss of $283,000, or a penny a share. During the same period a year ago, Image posted net earnings of $1.07 million, or 5 cents a share.

Jabil Circuit Inc. (JBL) said its board has authorized the repurchase of up to $200 million worth of its shares during the next year.

Linear Technology Corp. (LLTC) said the U.S. Attorney's Office for the Northern District of California has requested information about the company's stock-option grants.

Manitowoc Co. (MTW) raised its full-year earnings outlook to between $2.50 and $2.60 a share, up from its previous estimate of between $2.15 and $2.25 a share.

Manugistics Group Inc. (MANU) said its shareholders have approved the company's acquisition by JDA Software Group Inc. (JDAS) for more than $200 million. The company sees the transaction closing July 5.

Metrologic Instruments Inc. (MTLG) said a federal court in New Jersey court has granted its motion for summary judgment against Symbol Technologies Inc. (SBL) in a lawsuit for unpaid royalties. Metrologic calculates it will be awarded more than $2.6 million in damages.

Micron Technology Inc. (MU) swung to a quarterly profit from a year-ago loss due to stronger prices for memory chips and sales of other higher-margin products. Micron Tech reported a fiscal third-quarter profit of $89 million, or 12 cents a share. In the same period last year, the company lost $128 million, or 20 cents a share.

Navarre Corp. (NAVR) said the Minnesota district court dismissed yesterday an amended class action lawsuit that alleged securities fraud by the company and some of its officers.

Paychex Inc. (PAYX) reported fiscal fourth-quarter net earnings $122.7 million, or 32 cents a share, up 21% from $101.5 million, or 27 cents a share, during the year-ago period.

Raytheon Co. (RTN) said the Securities and Exchange Commission has authorized final settlement of an investigation into the company's disclosures and accounting practices. Under the terms of the settlement, Raytheon will pay a $12 million penalty without admitting or denying wrongdoing.

Robbins & Myers Inc. (RBN) said third-quarter sales fell from the same period last year, as the company swung to a quarterly net loss of $75,000, or a penny a share. During the same period in the prior year, the company reported net income of $223,000, or 2 cents a share.

Ruth's Chris Steak House Inc. (RUTH) said preliminary second-quarter company-owned restaurant sales, excluding franchise and other income, rose 16.7% to $57.4 million from $49.2 million during the same period last year.

Talx Corp. (TALX) said the Federal Trade Commission is looking to assess whether the company's acquisitions in the unemployment compensation and work number businesses have significantly reduced competition.

TAM S.A. (TAM) said it has signed a memorandum of understanding to acquire 37 additional Airbus (LSE: BAE) aircraft. The order includes 15 Airbus A319, 16 A320 and six A330 to be delivered until 2010, the Brazilian carrier said.

Vornado Realty Trust (VNO) said its Vornado Realty L.P. operating partnership has entered into a $1 billion unsecured revolving credit facility.

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