Stocks to Watch, Jan. 18: IBM and Apple

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Thursday's session are International Business Machines, Apple Inc. and Equity Office Properties Trust.

Bank of New York Co. (BK) is expected to report earnings per share for the fourth quarter of 55 cents, according to analysts polled by Thomson First Call.

BB&T Corp. (BBT) is expected to report income per share for the fourth quarter of 77 cents.

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Capital One Financial Corp. (COF) is expected to post fourth-quarter income of $1.24 per share.

Harley-Davidson Inc. (HOG) is expected to report per-share income of 96 cents for the fourth quarter.

IBM (IBM) is expected to report income of $2.19 per share for the fourth quarter.

International Game Technology (IGT) is expected to report first-quarter earnings of 35 cents per share.

Merrill Lynch & Co. (MER) is expected to post fourth-quarter earnings of $1.92 per share.

SLM Corp. (SLM) is expected to post fourth-quarter per-share income of 75 cents.

UnitedHealth Group Inc. (UNH) is expected to report income of 85 cents per share for the fourth quarter.

Xilinx Inc. (XLNX) is expected to post income of 23 cents per share for the third quarter.

After Wednesday's closing bell, Apple (AAPL) reported that first-quarter profit soared 78 percent, far surpassing Wall Street's expectations, on strong holiday sales of its iPod media players and Macintosh personal computers.

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Acco Brands Corp. (ABD) said it now expects adjusted earnings before interest, taxes, depreciation and amortization of $196 million to $198 million in 2006. The maker of office products had previously expected a result of $212.5 million. Acco said the revision is due to the absence of an increase in office product sales in the fourth quarter.

Amdocs Ltd. (DOX) reported first-quarter net earnings of $93.3 million, or 42 cents a share, compared with $75.3 million, or 36 cents a share, in the same period last year, as service revenue rose. Excluding acquisition-related costs, among other items, the Chesterfield, Mo.-based provider of software products and services posted per-share earnings of 53 cents vs. 42 cents last year.

Associated Banc-Corp (ASBC) said it will acquire First National Bank of Hudson. Financial terms of the deal were not disclosed.

Axis Capital Holdings (AXS) said it is reorganizing to "strengthen" the global operations of Axis Insurance. Managed across all geographic locations, the unit will have four divisions: specialty lines; professional lines; capital risk solutions; and Axis select markets.

CACI International Inc. (CAI) lowered its view for fiscal 2007 per-share income to a range of $2.45 to $2.65, compared with its prior view of $2.91 to $3.15. The information technology services company cited "unexpected" reductions in demand on contracts related to the Department of Defense.

Charming Shoppes Inc. (CHRS) said it now expects fourth-quarter per-share earnings of 18 cents to 20 cents, down from its prior outlook of 21 cents to 22 cents. The apparel retailer expects total sales for the period of $860 to $870 million and a low-single-digit consolidated comparable store sales decline for the company's retail stores.

Cisco Systems Inc. (CSCO) named Brian Halla, chairman and chief executive of National Semiconductor Corp. (NSM), to its board.

Clarcor Inc. (CLC) reported fourth-quarter net earnings of $26.7 million, or 52 cents a share, up 6.8 percent from $25 million, or 48 cents a share, during the year-ago period. The maker of filtration and industrial packaging products posted revenue of $232.6 million vs. $241.5 million.

Comsys IT Partners Inc. (CITP) said three of its stockholders are offering 2.5 million of the company's shares.

Gentiva Health Services Inc. (GTIV) said it now expects fiscal 2007 net revenue of $1.24 billion to $1.27 billion. Its previous net revenue outlook was $1.23 billion to $1.27 billion. The company expects per-share earnings of $1.15 to $1.22 for the year, and net income of $33 million to $35 million.

Scholastic Corp. (SCHL) said it has named Maureen O'Connell chief administrative officer and chief financial officer, effective Jan. 22.

Sears Holdings Corp. (SHLD) said it has named John Walden as chief customer officer, effective Jan. 29. Walden will have the services, marketing and direct commerce businesses reporting to him, and will be in charge of driving customer-focused strategies and new business development.

Vornado Realty Trust (VNO) offered to acquire Equity Office Properties Trust (EOP) , topping a previous offer by private-equity giant Blackstone Group, in a bid to become the leading office real estate investment trust on both U.S. coasts.

ECollege.com (ECLG) said it sees 2007 revenue growth from continuing operations of 20 percent to 23 percent, and growth of 27 percent to 30 percent for operating income. The company expects total distance enrollments supported by the eLearning Division to be 1.67 million for 2007, up 31 percent from the prior year.

Highwoods Properties Inc. raised its view for adjusted 2006 per-share funds from operations to a range of $2.45 to $2.47. That view includes items such as land sale gains of 20 cents per share. In November, the real estate investment trust said it was looking for an adjusted 2006 per-share result of $2.42 to $2.44.

Hooker Furniture Corp. (HOFT) said it plans to close its last remaining wood furniture plant in Martinsville, Va. by the end of March. The company expects to record charges of $7 million to $7.8 million pretax, or $4.3 million to $4.8 million after tax, or 36 cents a share to 40 cents a share related to the closing.

Kinder Morgan Inc. (KMI) reported fourth-quarter net income of $227 million, or $1.68 a share, up from $180 million, or $1.42 a share, in the year-ago period. Revenue for the three months ended Dec. 31 totaled $2.95 billion, up five-fold from $558 million a year ago.

Lam Research Corp.'s (LRCX) fiscal second-quarter net income more than doubled as sales of chip equipment rose 77 percent. The company said net income for the quarter ended Dec. 24, rose to $167.3 million, or $1.15 a share, from $77.8 million, or 55 cents a share, a year earlier.

Sovereign Bancorp (SOV) reported a fourth-quarter net loss of $129 million, or 28 cents a share, as the lender set aside a $192 million provision to cover credit losses. A year earlier, the company generated net income of $165 million, or 42 cents a share.

Vornado Realty Trust (VNO) said it has submitted a proposal with Starwood Capital and Walton Street to acquire Equity Office Properties Trust (EOP) for $52 per share or unit. The bid is payable 60 percent in cash and 40 percent in Vornado shares, and provides unitholders of Equity Office, the nation's largest public owner and manager of office properties, with the option to exchange their units for units of Vornado Realty LP.

Washington Mutual (WM) said that fourth-quarter net income came in at $1.06 billion, or $1.10 a share, up 23 percent from a year earlier when the lender made $865 million, or 85 cents a share. Earnings include an after-tax gain of $415 million from the sale of WM Advisors Inc., the company's mutual fund business, WaMu added.

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