Stocks to Watch, Dec. 4: Kroger and Bank of America

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Monday's session are Kroger Co., Bank of America Corp. and Home Depot Inc.

Comtech Telecommunications (CMTL) is expected to report earnings per share for the first quarter of 33 cents, according to analysts polled by Thomson First Call.

Inergy L.P. (NRGY) is expected to post a fourth-quarter per-share loss of 58 cents.

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Kroger (KR) is expected to report income per share of 28 cents for the third quarter.

After Friday's closing bell, Bank of America (BAC) said Alvaro de Molina, who rose from the ranks in investment banking to the executive offices, is stepping down as chief financial officer a little more than a year after he took the job.

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CBOT Holdings Inc. (BOT) said the Department of Justice has requested for additional information on the company's proposed $8 billion acquisition by Chicago Mercantile Exchange Holdings Inc. (CME) . CBOT said it still sees the deal — which is pending approval by regulators, shareholders of both companies and CBOT members — closing by mid-2007.

Cornell Corrections Inc. (CRN) raised its fourth-quarter earnings forecast to a range of 22 cents to 25 cents a share, or 27 cents to 30 cents a share on a pro forma basis, which excludes pre-opening and start-up costs for new facilities and losses associated with New Morgan Academy.

Duke Energy Indiana (DUK) said it has agreed to sell Unit 1 of its Wabash River Power Station in West Terre Haute, Ind., to the Wabash Valley Power Association. The price is based on the book value of Wabash River Unit 1 at the time of closing, which is currently estimated to be about $110 million to $120 million.

Home Depot (HD) said in a regulatory filing that it has had no discussion about a potential leveraged buyout or recapitalization. Home Depot shares rose following reports that two of the largest private-equity firms were preparing a $100 billion buyout of the home-improvement giant.

Nationwide Financial Services Inc. (NFS) said it has entered an agreement to buy back 3.86 million of its Class B share from Nationwide Corp. for $200 million, or $51.88 a share.

Openwave Systems Inc. (OPWV) said it has filed its Form 10-K for fiscal 2006, and that a special committee has finished its review of the company's historical stock-option-grant practices. The software company said it has recorded additional non-cash charges of $182 million for stock-based compensation and associated payroll tax expense for fiscal 2000 through 2005.

Orient-Express Hotels Ltd. (OEH) said James Sherwood, chairman and founder, plans to retire from his executive duties. Sherwood will continue to serve as non-executive chairman until the next annual shareholder meeting in June 2007, and after that, he will serve as non-executive director.

Hedge Fund Third Point LLC said it has filed a Schedule 13D with the Securities and Exchange Commission asking the board of Pogo Producing Co. (PPP) to initiate a process to sell all or part of itself. Third Point, which owns 7.2 percent of Pogo, also said it plans to mount a proxy contest at the company's 2007 shareholders' meeting that will allow the hedge fund to elect a majority of new directors to Pogo's board.

Sunrise Senior Living Inc. (SRZ) said it has received $40 million in buyout and transition fees from Five Star Quality Care Inc. for the buyout of seven management contracts.

Valspar Corp. (VAL) said it has completed acquiring H.B. Fuller Co.'s (FUL) powder coatings business. H.B. Fuller sees the deal adding $64 to $68 million in pretax income to fourth-quarter results.

Washington Real Estate Investment Trust (WRE) said it sees 2007 earnings per share of 74 cents to 77 cents, and funds from operations of $2.17 to $2.20 per share. The company also backed its view for 2006 per-share funds from operations of $2.11 to $2.14.

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