Stocks to Watch, March 2: Dell, Gap, and Horizon

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Dell Inc., Gap Inc., and Horizon Lines Inc.

ATP Oil & Gas Corp. (ATPG) is expected to post earnings of 42 cents a share for the fourth quarter, according to a survey of analysts by Thomson Financial.

Horizon Lines (HRZ) is expected to report fourth-quarter earnings of 32 cents a share.

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Idenix Pharmaceuticals Inc. (IDIX) is expected to post a loss of 38 cents a share for the fourth quarter.

MarkWest Energy Partners LP (MWE) is expected to report fourth-quarter earnings of 38 cents a share.

Royal Bank of Canada (RY) is expected to report first-quarter earnings of 99 Canadian cents (83 cents) a share.

After Thursday's closing bell, Dell (DELL) reported a fiscal fourth-quarter profit that fell 33 percent from a year ago as the personal-computer giant struggled with a decline in sales and increased competition from top rivals such as Hewlett-Packard Co. (HPQ).

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Ace Ltd. (ACE) said it has named Evan Greenberg chairman in addition to his role as chief executive.

American International Group Inc. (AIG) reported a jump in fourth-quarter net income late and unveiled a big share buyback and new dividend plan.

AMN Healthcare Services Inc.'s (AHS) fourth-quarter net income jumped 44 percent to $10 million, or 29 cents a share, from $6.98 million, or 21 cents a share, a year earlier. The San Diego company's revenue grew to $283.5 million from $221.4 million.

Alcoa Inc. (AA) plans to close its Reynolds Food Packaging plastics manufacturing plant in Mt. Vernon, Ky., by the middle of this year. The Pittsburgh producer and manager of aluminum and alumina facilities said the closing will affect 115 people.

Bausch & Lomb Inc. (BOL) , which recently completed a restatement of its results for 2005, said it was unable to file its 2006 annual report on time.

Berkshire Hathaway's (BRKA) (BRKB) fourth-quarter net income fell 30 percent to $3.58 billion from $5.13 billion a year earlier, the company said. The Omaha, Neb., conglomerate said operating earnings per-share rose to $1,859 from $1,196. Also, Berkshire Chairman Warren Buffett used his annual shareholder letter to post a job ad for a new chief investment officer.

Cbeyond Inc. (CBEY) reported fourth-quarter net earnings of $4.35 million, down from $5.32 million last year. The company reported net income available to common stockholders of $4.35 million, or 16 cents per basic share, up from $4.22 million, or 26 cents per basic share, in the year-ago period.

Citigroup Inc. (C) said it acquired prepaid card company Ecount Inc. for an undisclosed amount. Citigroup, a New York financial services company, said the acquisition would strengthen its position in the U.S. payments business and would enable the launch of prepaid cards worldwide.

Credence Systems Corp. (CMOS) reported a first-quarter net loss of $11,000, or breakeven on a per-share basis, compared with a net loss of $4.05 million, or 4 cents a share, during the year-ago period. The Milpitas, Calif.-based semiconductor-testing-equipment company posted revenue of $118.8 million vs. $121.8 million.

Cumulus Media Inc.'s (CMLS) fourth-quarter loss narrowed to $51.4 million, or $1.21 a share, from $218.3 million, or $3.45 a share, a year earlier. The Milwaukee radio broadcasting company's revenue rose to $87.8 million from $82.9 million in the year-ago period.

Ferro Corp. (FOE) posted a fourth-quarter net loss of $3.86 million. During the same period a year ago, the company reported net earnings of $985,000. The loss available to common shareholders were $4.16 million, or 10 cents a share. A year ago, earnings available to common shareholders were $624,000, or a penny a share. The Cleveland-based maker of performance materials posted revenue of $497.3 million vs. $457.9 million.

Fluor Corp. (FLR) said earnings for the fourth quarter rose to $80.7 million, or 90 cents a share, from $65.1 million, or 74 cents a share, in the year-ago quarter, when a $9 million income tax benefit boosted results. Revenue fell 8 percent to $3.6 billion because of reduced volumes in work for the government and industrial segments.

Freeport-McMoRan Copper & Gold Inc. (FCX) said it plans to offer a total of $6 billion of senior notes to the public in two tranches. The company also said its 2006 operating income would have totaled $6.5 billion, with revenue of $17.7 billion, if it had already completed its acquisition of Phelps Dodge Corp. (PD) .

Gap (GPS) turned in a 35 percent drop in fourth-quarter profit, capping a year of sales turmoil and executive shake ups, and forecast lower fiscal-year results as it grapples with its future and folds the Forth & Towne concept.

Handleman Co. (HDL) said it has suspended its quarterly cash dividend of 8 cents a share in connection with amending its credit agreement. The Troy, Mich.-based distributor of prerecorded music, and video game hardware and software said will redirect its cash flow to reduce outstanding debt.

Kohl's Corp. (KSS) said fourth-quarter profit rose nearly 30 percent, helped by new store openings and strength in its private-label brands.

KongZhong Corp.'s (KONG) fourth-quarter net income fell 42 percent to $3.66 million, or 10 cents an American depositary share, from $6.26 million, or 17 cents an American depository share, a year ago. The Beijing provider of wireless services said revenue rose 7.1 percent to $23.7 million from $22.1 million.

Longs Drug Stores Corp.'s (LDG) preliminary retail drug store sales from continuing operations rose 4.6 percent in February to $367.5 million from $351.3 million a year ago. The Walnut Creek, Calif., retail drug store chain's same-store sales rose 2.7 percent from the year-ago period.

McDermott International Inc. (MDR) reported fourth-quarter net earnings of $141 million, or $1.23 a share, up from $36.1 million, or 32 cents a share, during the year-ago period. The Houston-based energy services contractor posted revenue of $1.31 billion vs. $395.9 million.

Novell Inc. (NOVL) said that profit disappeared during its fiscal first quarter, while revenue fell 5 percent. Waltham, Mass.-based Novell said after the market's close that for the quarter ended Jan. 31 it had a loss of $19.9 million, or 6 cents a share, compared to net income of $1.87 million, or break-even, during the period a year ago. Revenue for the quarter fell to $230 million, compared to $242 million a year ago.

Noven Pharmaceuticals Inc. (NOVN) reported fourth-quarter net earnings of $7.12 million, or 29 cents a share, up from $6.06 million, or 25 cents a share, in the year-ago period. Excluding certain items, the Miami-based company reported a profit of $7.7 million, or 31 cents a share, compared with $2.7 million, or 11 cents a share, last year. Revenue in the three months ended Dec. 31 rose to $17.2 million from $16.8 million.

OmniVision Technologies Inc. (OVTI) reported third-quarter net earnings of $4.13 million, or 7 cents a share, down from $29.6 million, or 53 cents a share, during the year-ago period. The Sunnyvale, Calif.-based company, which designs and markets high-performance semiconductor image sensors, posted revenue of $134.4 million vs. $137.3 million.

Pall Corp. (PLL) reported fiscal second-quarter net earnings of $55.8 million, or 45 cents a share, up 72 percent from $32.4 million, or 26 cents a share, in the year-ago period. On a pro forma basis, the East Hills, N.Y.-based maker of filtration, purification, and separation products reported earnings of 43 cents a share compared with 28 cents a share last year.

PMC-Sierra Inc. (PMCS) named Michael Zellner as chief financial officer.

Drug developer Sepracor Inc. (SEPR) named Adrian Adams president and chief operating officer, replacing W. James O'Shea, who was named to the newly created position of vice chairman.

Sharper Image Corp. (SHRP) said it has filed an amended Form 10-K for the year ended Jan. 31, 2006, with restated financial results. The San Francisco-based retailer said the effect of the restatement is less than previously estimated, with non-cash compensation expense of $17.7 million, or $10.5 million after tax, for the fiscal years 1995 through 2005.

Standard & Poor's will add Superior Energy Services Inc. (SPN) to its S&P 400 MidCap Index on a date to be announced, replacing Mercantile Bankshares Corp. (MRBK).

TXU Corp.'s (TXU) acquisition will include a $500 million co-investment by KKR Private Equity Investors LP, or KPE. KPE intends to invest $300 million in the Dallas utility holding company plus about $200 million of capital contributions, which it expects to fund as a limited partner in KPE's private equity funds.

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