SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Thursday's session are Palm Inc., Motorola Inc., and Jabil Circuit Inc.
3Com Corp. (COMS) is expected to report third-quarter earnings of a penny a share, according to a survey of analysts by Thomson Financial.
Barnes & Noble Inc. (BKS) is expected to post earnings of $1.88 a share for the fourth quarter.
Borders Group Inc. (BGP) is expected to report fourth-quarter earnings of $1.63 a share.
ConAgra Foods Inc. (CAG) is expected to post earnings of 35 cents a share for the third quarter.
General Mills Inc. (GIS) is expected to third-quarter earnings of 70 cents a share.
Jabil Circuit (JBL) is expected to post earnings of 35 cents a share for the fourth quarter.
KB Home (KBH) is expected to report first-quarter earnings of 25 cents a share.
Nike Inc. (NKE) is expected to post earnings of $1.33 a share for the third quarter.
Palm (PALM) is expected to report third-quarter earnings of 12 cents a share.
Williams-Sonoma Inc. (WSM) is expected to post earnings of $1.03 a share for the fourth quarter.
After Wednesday's closing bell, Motorola reshuffled its management ranks and slashed its financial forecasts for the current quarter and full year, while calling the slumping performance of its wireless handset business "unacceptable."
Acme Communications Inc. (ACME) late Wednesday reported a fourth-quarter net loss of $1.63 million, or 10 cents a share, compared with $5.64 million, or 13 cents a share, in the year-ago period. Revenue at the Santa Ana, Calif.-based television station operator fell to $8.45 million from $8.63 million. Acme expects first quarter 2007 revenue for its continuing television stations to decrease in the low single digits compared to the same quarter last year.
Adams Respiratory Therapeutics Inc. (ARXT) said it has entered into a settlement agreement with Pharmaceutical Holdings Corp. subsidiaries Mutual Pharmaceutical Co. and United Research Laboratories Inc. relating to the patent infringement lawsuit filed by Adams in the U.S. District Court for the Eastern District of Pennsylvania on Oct. 4, 2006. Adams said the patent covers its extended-release guaifenesin single-agent and combination products.
Affiliated Computer Services Inc. (ACS) confirmed it has received a $59.25-per-share offer from Chairman Darwin Deason and Cerberus Capital Management L.P. to take the company private. The deal would be worth more than $8 billion including the assumption of ACS debt. The Dallas-based company, an outsourcer of information-technology services, said a special committee of independent directors has been formed to evaluate strategic alternatives, including the proposal from Deason and Cerberus. The committee expects to make a recommendation "in due course," the company said.
Amerigroup Corp. (AGP) cut its full-year 2007 profit forecast to account for costs associated with securing litigation-related financing.
Chubb Corp.'s (CB) board increased the share buyback program by 20 million shares. The Warren, N.J., insurance holding company said purchases may be made in the open market or in privately negotiated transactions.
Citi Trends Inc. (CTRN) reported fourth-quarter net earnings of $10.4 million, or 73 cents a share, up 31 percent from $7.92 million, or 55 cents a share, during the year-ago period. The Savannah, Ga.-based retailer posted revenue of $126.8 million vs. $96.8 million. Analysts polled by Thomson Financial had forecast fourth-quarter earnings of 70 cents a share on revenue of $126 million. Same-store sales for the quarter rose 1.3 percent on a comparable-weeks basis. Additionally, Citi Trends said it still expects fiscal 2007 earnings of $1.73 to $1.77 a share, and a same-store sales increase in the low-single digits. Analysts are currently looking for earnings of $1.48 a share for the year. For the first quarter, the company said it sees per-share earnings of 44 cents to 49 cents.
Clarcor Inc.'s (CLC) first-quarter net income rose slightly to $16.4 million, or 32 cents a share, from $16.2 million, or 31 cents a share, a year earlier. The Franklin, Tenn., maker of filtration and industrial packaging products said sales for the quarter ended March 3 fell 1.7 percent to $209.5 million from $213.2 million a year ago. On average, analysts polled by Thomson Financial predicted first-quarter earnings of 36 cents a share and revenue of $222 million. Clarcor reaffirmed its 2007 earnings range of $1.67 to $1.77 a share, expecting domestic growth to rebound beginning in the second quarter.
Herman Miller Inc. (MLHR) reported fiscal third-quarter net earnings of $32.3 million, or 50 cents a share, up 44 percent from $22.4 million, or 33 cents a share, in the year-ago period. The company said revenue in the three months ended March 3 rose 14 percent to $484.8 million from $424 million in the same period last year. Analysts polled by Thomson Financial were expecting a per-share profit of 52 cents on revenue of $491 million. The Zeeland, Mich.-based furniture maker expects fiscal fourth-quarter net earnings of 47 cents to 51 cents on revenue of $485 million to $505 million.
Intuit Inc. (INTU) said its TurboTax federal unit sales through March 17 rose 1 percent to 10.9 million from 10.8 million a year earlier. The Mountain View, Calif., provider of business and financial management services expects total unit growth of 3 percent to 5 percent for the full season. Intuit also reaffirmed its segment revenue growth forecast of 10 percent to 15 percent and its fiscal 2007 outlook.
Computer hard-disk maker Komag Inc. (KOMG) said it expects its first-quarter revenue to be better than it previously forecast. Komag estimates its sales to be slightly above its 2006 fourth-quarter revenue of $255.9 million; it previously forecast first-quarter sales to be down 2 percent to 3 percent from the fourth quarter. The company also said its net margins should be below the midpoint of its earlier forecast of a range of 12 percent to 14 percent.
The Job Network LLC, a unit of Lee Enterprises Inc. (LEE) , entered a strategic partnership with Yahoo Inc.'s (YHOO) HotJobs unit. Financial terms weren't disclosed. The agreement will allow the Job Network's members, made up primarily of community newspapers, to post employment ads on the HotJobs website.
Ligand Pharmaceuticals Inc. (LGND) plans to pay a dividend of about $253 million, or $2.50 a share. The San Diego developer of small-molecule drugs said the dividend is payable April 19 to shareholders of record April 5. Ligand's board also authorized up to $100 million in share repurchases over the next 12 months, the company said. Patterson-UTI Energy Inc. (PTEN) named Douglas Wall as chief operating officer, effective April 2007.
PDI Inc. (PDII) said a large pharmaceutical company customer notified the company they wouldn't renew their contract sales engagement with PDI when it expires May 12. The Saddle River, N.J., provider of commercialization services to biopharmaceutical companies said the contract was for one year and $35 million. Chief Executive Michael Marquard said the failure to renew the contract was disappointing and underscores PDI's diversification strategy.
Radio One Inc. (ROIAK) (ROIA) reported a preliminary fourth-quarter net loss of $22.9 million, or 23 cents a share. During the same period a year ago, the company posted net earnings of $9.53 million, or 10 cents a share. Net broadcast revenue fell to $86.2 million from $90.6 million. Radio One said the results, which are preliminary pending a previously planned restatement, reflected "another soft quarter for the radio industry." The company also said its problems were isolated to the single market of Los Angeles. Radio One said it has received a letter of informal inquiry from the Securities and Exchange Commission regarding stock option accounting.
Raytheon Co. (RTN) said it has increased its annual dividend by 6 percent $1.02 from 96 cents a share.
RCM Technologies Inc. (RCMT) reported fourth-quarter net earnings of $2.33 million, or 19 cents a share, up from $819,000, or 7 cents a share, during the year-ago period. The Pennsauken, N.J.-based company posted revenue of $54.2 million vs. $46.8 million.
Sigma Designs Inc. (SIGM) said its fiscal fourth-quarter revenue tripled and that the company's board is still conducting a review of its stock-option practices. Revenue for the quarter jumped to $31.2 million from $10.5 million due to strong growth for telco-based IPTV deployments and increased shipments of media processor chips. The stock-option review isn't complete, and Sigma won't be able to announce financial results that include stock-based compensation. As a result, the Milpitas, Calif., maker of silicon-based media processors may miss the deadline for filing its financial report and that prior financial statements shouldn't be relied upon.
Wells Fargo & Co. (WFC) said it has authorized a stock buyback of up to 75 million shares. The San Francisco-based banking giant has roughly 3.4 billion shares outstanding. Wells Fargo shares rose 2.5 percent to close at $35.48 on Wednesday.