SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are J. Crew Group Inc., KB Home and Home Depot Inc.
After Thursday's closing bell, J. Crew (JCG) said its second-quarter loss widened over last year's as the heavy costs of debt and preferred dividends outweighed double-digit gains in sales and operating income.
KB Home (KBH) has been notified by the Securities and Exchange Commission that the agency will conduct an informal inquiry into the company's stock-option grants. See full story.
Home Depot (HD) said it has approved an additional $3.5 billion to repurchase shares, bringing the total buyback authorization to $17.5 billion.
Accenture Ltd. (ACN) named Kevin Campbell group chief executive, outsourcing, effective Sept. 1.
Ansoft Corp. (ANST) said first-quarter net income reached $2.29 million, or 9 cents a share, compared with $1.17 million, or 5 cents a share, during the same period in the prior year. Ansoft said quarterly revenue was $17.3 million, compared with $14.8 million in the prior year.
Avocent Corp. (AVCT) said it has begun its acquisition tender offer for LANDesk Group Ltd. Avocent said in April it had agreed to buy Salt Lake City-based LANDesk for $416 million in cash and stock.
Benihana Inc. (BNHNA)/(BNHN) said the Delaware Supreme Court has affirmed a lower court's decision dismissing all claims against the company by Benihana of Tokyo Inc. The claims were related to Benihana's issuance of $20 million of preferred stock to BFC Financial Corp. Benihana also said first-quarter net earnings of $4.52 million, or 40 cents a share, rose from last year's result of $4.5 million, or 44 cents a share.
Credence Systems Corp. (CMOS) said the preliminary third-quarter net loss narrowed from last year's results as operating expenses fell. Credence noted that the quarterly results, to be finalized on or before Sept. 11, should include the impact of the goodwill and long-lived assets impairment, and the company sees taking a non-cash charge of $300 million to $400 million.
Education Realty Trust Inc (EDR) said it now sees 2006 per-share/unit funds from operations of 87 cents to 92 cents, compared with its prior view of 97 cents to $1.02. The Memphis, Tenn.-based operator of collegiate housing cited a higher cost of borrowing.
Finish Line Inc. (FINL) said it has lowered its second-quarter per-share earnings outlook to a range of 19 cents to 21 cents, from an estimate of 25 cents to 28 cents. The Indianapolis-based apparel retailer said the lower outlook is due to a slowdown in sales and pressure on product margins, among other factors.
Gottschalks Inc. (GOT) said second-quarter net income reached $486,000, or 4 cents a share, compared with $259,000, or 2 cents a share, during the same period in the prior year. Quarterly revenue rose to $154.8 million from $151 million in the prior year.
H&R Block Inc. (HRB) said it expects to record an after-tax provision for losses of $61.3 million, or 19 cents a share. The loss provision reflects an increase to the estimated recourse liability recorded by H&R Block subsidiary, Option One Mortgage Corp., for loan repurchases and premium recapture reserves.
Isle of Capri Casinos Inc. (ISLE) said first-quarter net income rose to $9.24 million, or 29 cents a share, from $3.98 million, or 13 cents a share, during the same period in the prior year. Quarterly net revenue was $274 million, compared with $242.5 million in the prior year.
McData Corp. (MCDTA) reported a fiscal second-quarter loss of $20.5 million, or 13 cents a share, on revenue of $150.1 million, compared to a loss of $25.5 million, or 18 cents a share, on $165.3 million in revenue a year ago.
Navistar International Corp. (NAV) said it has reached an agreement with Caterpillar Inc. (CAT) for new licensing and supply agreements. The supply agreements include on-highway truck engines, fuel injectors, remanufactured components and other products. Further, as part of the agreement, the companies are dismissing all pending litigation.
Pharmacyclics Inc. (PCYC) reported a fourth-quarter net loss of $14.7 million, or 73 cents a share, compared with a net loss of $8 million, or 40 cents a share, during the year ago period. On a pro forma basis, the loss was $6.66 million, or 33 cents a share, vs. a loss of $7.97 million, or 40 cents a share, a year ago.
Progress Software Corp. (PRGS) said a party identifying itself as a shareholder of the company has filed a derivative complaint alleging violations of the Securities Exchange Act and unjust enrichment arising from an alleged option backdating scheme, among other breaches.
Reynolds American Inc. (RAI) subsidiary R.J. Reynolds Tobacco Co. said a federal district court judge has struck down a Washington state law prohibiting tobacco companies from sampling products to adult smokers in venues such as bars and nightclubs.
Sauer-Danfoss Inc. (SHS) said it has increased its quarterly dividend 14% to 16 cents a share from 14 cents a share. The increased dividend is payable Oct. 16 to stockholders of record as of Sept. 29.
Toyota Motor Corp. (TM) reportedly may delay the introduction of some new models by as much as half a year in reaction to a surge of recalls and quality problems.