Stocks to Watch, Nov. 17: Starbucks; Hewlett Packard

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Starbucks Corp., Hewlett Packard Co. and Ann Taylor Stores Corp.

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Ann Taylor (ANN) is expected to post per-share earnings of 52 cents in the third quarter, according to analysts polled by Thomson First Call.

Citi Trends Inc. (CTRN) is expected to report third-quarter earnings of 16 cents a share.

J. M. Smucker Co. (SJM) is expected to post earnings of 85 cents in the second quarter.

After Thursday's closing bell, Starbucks Corp. (SBUX) reported a 5.2 percent drop in fourth-fiscal-quarter profit, hurt by new accounting requirements and higher costs, as sales fell short of Wall Street's expectations.

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Advo Inc. (AD) posted a preliminary net fourth-quarter net loss of $3.63 million, or 12 cents a share. The results include certain non-recurring and incremental costs totaling about $7.4 million. During the same period a year ago, the Windsor, Conn.-based direct mail media company reported net earnings of $8.4 million, or 27 cents a share.

Autodesk Inc. (ADSK) said third-quarter revenue rose 21percent to $457 million from $378.3 million in the same period last year. The San Rafael, Calif.-based maker of design software did not provide earnings figures for the period because of an ongoing stock-option review.

Avanir Pharmaceuticals (AVNR) said it will be added to the Nasdaq Biotechnology Index, effective at the market's opening on Monday.

C.H. Robinson Worldwide Inc. (CHRW) increased its quarterly cash dividend 39 percent to 18 cents from 13 cents a share. The dividend is payable on Jan. 2 to shareholders of record on Dec. 8, the Eden Prairie, Minn.-based shipping and storage company said.

Cost Plus Inc. (CPWM) reported a third-quarter net loss of $11.7 million, or 53 cents a share, compared with a net loss of $2.66 million, or 12 cents a share, during the year-ago period. The Oakland, Calif.-based retailer posted revenue of $215.4 million vs. $200.7 million.

Cousins Properties Inc. (CUZ) said Thomas Cousins, the founder and chairman, will retire effective Dec. 7. Tom Bell, president and chief executive, will become chairman, according to the Atlanta-based real estate investment trust.

Eagle Test Systems Inc. (EGLT) reported fourth-quarter net earnings of $9.25 million, compared with $7.34 million in the same period last year, as sales grew. The Buffalo Grove, Ill.-based company posted earnings available to stockholders of 44 cents a share vs. 46 cents a share last year.

Foot Locker Inc. (FL) said third-quarter net income fell, as sales costs rose, to $65 million, or 42 cents a share, from $66 million, or 42 cents a share, during the same period in the prior year. The company raised its view for full-year earnings per share from continuing operations to be in the range of $1.58 to $1.65 before a non-cash charge.

Gap Inc. (GPS) said third-quarter earnings fell nearly 11 percent to $189 million, or 23 cents a share, compared with last year's profit of $212 million, or 24 cents a share. The company lowered its full-year outlook to a range of $1.01 to $1.06 a share and blamed it on a slower-than-expected turnaround at the Old Navy stores.

Hewlett-Packard (HPQ) reported a fiscal fourth-quarter profit of $1.7 billion, or 60 cents a share, compared to $416 million, or 14 cents a share, a year ago. Revenue climbed more than 7 percent to $24.6 billion from $22.9 billion in the year-ago quarter.

Hibbett Sporting Goods Inc. (HIBB) reported third-quarter net earnings of $9.93 million, or 31 cents a share, up 22 percent from $8.17 million, or 24 cents a share, during the year-ago period. The company said it has increased its fiscal 2007 outlook, and now sees per-share earnings of $1.12 to $1.16, and same-store sales up 3 percent to 5 percent.

Hurray Holding Co. (HRAY) said third-quarter net income fell, as revenue costs rose, to $1.61 million, or 7 cents per American Depositary Share, from $5.03 million, or 22 cents per ADS, during the same period in the prior year. For the fourth quarter, the company sees revenue of $17 million to $18 million

Intermec Inc. (IN) said it plans to reduce its current worldwide workforce by about 9 percent as part of a restructuring plan. The Everett, Wash.-based company said it expects to take a total pretax restructuring charge of $7.6 million to $8.6 million associated with the cost-saving initiatives.

Intuit Inc. (INTU) said the first-quarter net loss widened, as expenses rose, to $58.9 million, or 17 cents a share, from a net loss of $45.8 million, or 13 cents a share, during the same period in the prior year. Excluding items, the per-share loss narrowed to 12 cents from 13 cents in the prior year.

LTX Corp. (LTXX) said it swung to first-quarter net income, as revenue gained and costs fell, of $4.59 million, or 7 cents a share. During the same period in the prior year, which included reorganization costs, the net loss was $8.38 million, or 14 cents a share.

Marvell Technology Group Ltd. (MRVL) late Thursday reported preliminary fiscal third-quarter revenue of $520.4 million, up 22 percent from last year's same period. The company didn't report net income due to its ongoing review of its stock option accounting.

Microsemi Corp. (MSCC) said its fourth-quarter net earnings dropped slightly to $8.11 million, or 11 cents a share, from $8.16 million, or 12 cents a share, in the same period last year, as its provision for income taxes and expenses increased. Excluding stock-based compensation, among other items, the Irvine, Calif.-based chip maker posted per-share earnings of 25 cents vs. 21 cents last year.

Oneok Inc. (OKE) (OKS) said its board has elected David Tippeconnic to be a director, effective immediately. Tippeconnic is chief executive of Arrow-Magnolia International LP and a former CEO of CITGO Petroleum Corp.

PPG Industries Inc. (PPG) said it expects fourth-quarter earnings from its chlor-alkali business to be cut by $35 million to $40 million, or 13 cents a share to 15 cents a share, compared with the previous quarter. The reduction is mainly due to lower expected volumes and lower pricing as several chlor-alkali chemical customers shut down facilities or curtailed production in November and December.

Sanmina-SCI Corp. (SANM) said its financial results based on generally accepted accounting principles are not available because they are being restated and are subject to completion of the annual audit. The company noted that it expects to record additional expenses due to a board committee's investigation of the company's stock options.

Security Capital Assurance Ltd. (SCA) said its XL Capital Assurance Inc. unit has received a grand jury subpoena from the antitrust division of the U.S. Attorney's Office for the Southern District of New York. The subpoena seeks documents in connection with an investigation into the municipal guaranteed investment contract market and related products.

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