SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Warner Music Group Corp., Cheesecake Factory Inc. and Advanced Micro Devices Inc.
Warner Music (WMG) is expected to report breakeven earnings per share for the fourth quarter, according to analysts polled by Thomson First Call.
After Thursday's closing bell, Cheesecake Factory (CAKE) posted two quarters' worth of earnings that came in ahead of Wall Street's expectations, and said sales at restaurants open at least a year so far in the fourth quarter were flat to slightly higher.
Advanced Micro Devices Inc. (AMD) said it has received a subpoena from the Department of Justice's antitrust division on an investigation into potential antitrust violations related to graphics processors and cards.
Axcan Pharma Inc. (AXP) (AXCA) said fourth-quarter net income fell, as research and development expenses rose, to $8.27 million, or 17 cents a share, from $9.15 million, or 19 cents a share, during the same period in the prior year.
Best Buy Co. (BBY) said David Berg has been named chief operating officer of Best Buy International. Berg, who fills a new position, has served as senior vice president, strategic alliances.
Catalyst Semiconductor Inc. (CATS) reported second-quarter net earnings of $176,000, or a penny a share, down from $927,000, or 5 cents a share, during the year-ago period. The chip company posted revenue of $16.3 million vs. $16.9 million.
Delta Air Lines Inc. (DALRQ) emerged from a lengthy meeting with U.S. Airways Group Inc. (LCC) unconvinced that U.S. Airways' $8.5 billion hostile takeover bid is the best course for the struggling airline.
Denny's Corp. (DENN) said November sales at stores open at least one year rose 0.1%. The restaurant chain also said that the guest check average rose 0.6 percent during the four weeks ended Nov. 22, while guest counts fell 0.5 percent.
Finisar Corp. (FNSR) said fiscal second-quarter revenue rose to $108.2 million from $86.6 million during the same period in the prior year, while Wall Street had expected $110 million. The company is not announcing quarterly income, and will delay filing results, due to a review of its historical option grants.
H&R Block Inc. (HRB) reported a fiscal second-quarter net loss of $156.5 million, or 49 cents a share, compared with a net loss of $81.2 million, or 25 cents a share, during the year-ago period, as weakness in the mortgage industry drove a larger loss.
Isle of Capri Casinos Inc. (ISLE) said it swung to second-quarter net income, as the company recorded a pretax gain of $13.8 million on property sales, of $3.39 million, or 11 cents a share. During the same period in the prior year, the net loss was $4.22 million, or 14 cents a share.
Lone Star Steakhouse & Saloon Inc. (STAR) said Dallas-based private equity firm Lone Star Funds has raised its acquisition bid to $27.35 from $27.10 a share. The amended agreement has been unanimously approved by Lone Star Steakhouse's board.
Longs Drug Stores Corp. (LDG) said preliminary revenue for November is $389.6 million, 10.7% more than $351.8 million during the same period in the prior year. Longs said preliminary November retail drug store sales are $364.5 million, up 4.5 percent from the prior year.
McData Corp. (MCDTA) said the third-quarter net loss widened, as costs rose and revenue fell, to $26.3 million, or 17 cents a share, from a net loss of $7.48 million, or 5 cents a share, during the same period in the prior year.
OmniVision Technologies Inc. (OVTI) said second-quarter net income fell, as the company recorded items such as litigation settlement expenses, to $5.42 million, or 10 cents a share, from $22.6 million, or 41 cents a share, during the same period in the prior year.
Progress Software Corp. (PRGS) said it plans to file its restated financial results by Dec. 15. The Bedford, Mass.-based maker of application infrastructure software also said it expects to maintain its conditional listing on the Nasdaq until at least Dec. 15.
Rayonier Inc. (RYN) said it has agreed to acquire 55,000 acres of timberland in Texas from an investment fund advised by Global Forest Partners LP for $121 million.
Semtech Corp. (SMTC) said third-quarter sales rose to $63.7 million from $60.9 million during the same period in the prior year. Wall Street had expected $64 million.
Shuffle Master Inc. (SHFL) said it has closed on a $100 million revolving credit facility.
Sonic Corp. (SONC) said it expects first-quarter same-store sales growth to be within its target range of 2 percent to 4 percent. Earnings per share for the first quarter are likely to be at the lower end of its prior outlook of 19 cents to 20 cents.
Wyndham Worldwide Corp. (WYN) said the principal of its offering of senior unsecured notes due 2016 has increased to $800 million from the previously announced $500 million. Wyndham said it plans to use the proceeds to repay its loan facility, revolver, and for general corporate purposes.
Yum Brands Inc. (YUM) said it expects 2007 per-share earnings growth of at least 10 percent. On a worldwide basis, the restaurant company said it expects system-sales growth and revenue growth of 5 percent to 6 percent, led by 20 percent growth in mainland China.
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