Stocks to Watch: Bed, Bath & Beyond, Genentech and Research in Motion

SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Wednesday's session are Bed Bath & Beyond Inc., Genentech Inc., and Research In Motion Ltd.

Apogee Enterprises Inc. (APOG) is expected to report fourth-quarter earnings of 28 cents a share, according to a survey of analysts by Thomson Financial.

Bed Bath & Beyond (BBBY) is expected to post earnings of 78 cents a share for the fourth quarter.

Christopher & Banks Corp. (CBK) is expected to report fourth-quarter earnings of 4 cents a share.

Genentech (DNA) is expected to post earnings of 67 cents a share for the first quarter.

Research in Motion Ltd. (RIMM) (RIM) is expected to report fourth-quarter earnings of 99 cents a share.

Ruby Tuesday Inc. (RI) is expected to post earnings of 53 cents a share for the third quarter.

SAIC Inc. (SAI) is expected to report fourth-quarter earnings of 17 cents a share.

After Tuesday's closing bell, Alcoa Inc. (AA) said that first-quarter net income rose 9 percent, supported by climbing aluminum prices and sales to aerospace and construction markets. .

Watch list

American Medical Systems Holdings Inc. (AMMD) said first-quarter sales rose 47 percent to $108.4 million from $73.6 million a year earlier but fell short of its own expectations as inventory shortfalls in key products offset revenue gains in other areas. The Minneapolis health-products company said Tuesday that it had previously expected revenue of $113 million to $118 million. Analysts polled by Thomson Financial, on average, expected revenue of $116 million. American Medical said it now expects first-quarter earnings of 5 cents to 7 cents a share, down from the 13 cents to 15 cents a share it forecast in February.

Amgen Inc. (AMGN) named Robert Bradway executive vice president and chief financial officer, replacing Richard Nanula.

Anadarko Petroleum Corp. (APC) said it has closed its new, previously announced, $8 billion credit facility.

Angelica Corp. (AGL) reported fourth-quarter net earnings of $3.27 million, or 35 cents a share, up from $543,000, or 6 cents a share, during the year-ago period. Earnings from continuing operations were $3.3 million, or 35 cents a share, compared with $1.1 million, or 12 cents a share, last year. The St. Louis-based provider of healthcare linen management services posted revenue from continuing operations of $105.7 million vs. $105.1 million.

Array BioPharma Inc. (ARRY) said it has filed an investigational new drug application for its drug candidate ARRY-797, a selective, orally active p38 inhibitor, with the Food and Drug Administration. The Boulder, Colo.-based biopharmaceutical company said it plans to proceed with a Phase I clinical trial of ARRY-797 in cancer patients this year.

Benihana Inc. (BNHN) (BNHNA) said fourth-quarter same- restaurant sales, or sales at restaurants open at least one year, rose 5.8 percent, while overall restaurant sales increased 17.2 percent.

Boston Communications Group Inc. (BCGI) said it plans to reduce its workforce by 93 people, or about 21 percent, and record a related one-time charge of about $2 million in the fiscal second quarter. Most of the employees impacted by the cuts are located at the headquarters in Bedford, Mass. and work across all areas of the organization, the company said.

Buca Inc. (BUCA) said that comparable sales at its Buca di Beppo restaurants rose 0.2 percent in the first quarter compared with the year-ago period.

Chevron Corp. (CVX) issued its interim update for the first quarter. The San Ramon, Calif.-based oil and gas giant said it expects results in the quarter to benefit from a $700 million gain on the sale of its interest in manufacturing assets in the Netherlands, partially offset by the effects of lower refinery utilization. In the first two months of the first quarter, Chevron said combined U.S. liquids and natural gas production fell 3 percent when compared with the fourth quarter, while combined international liquids and natural gas production fell 1 percent. U.S. crude realizations decreased by $2.65 per barrel, international liquids realizations declined $2.72 per barrel, while U.S. natural gas realizations increased 26 cents per thousand cubic feet. Chevron also said U.S. refinery crude-input volumes declined 20 percent in the first two months of the first quarter due to downtime at the company's Richmond, Calif., refinery.

Chico's FAS Inc. (CHS) said that comparable sales at company-owned stores rose 5.2 percent in March compared with the year-ago period. Total sales for the five-week period ended April 7 increased 22 percent to $191.2 million from $156.8 million reported last year, the Fort Myers, Fla.-based retailer said.

Electro Scientific Industries Inc. (ESIO) reported fiscal third-quarter net earnings of $5.6 million, or 19 cents a share, down 46 percent from $10.4 million, or 35 cents a share, in the year-ago period. The Portland, Ore.-based maker of laser systems said revenue in the three months ended March 3 rose to $59.4 million from $55.9 million. Analysts polled by Thomson Financial were expecting a per-share profit of 20 cents on revenue of $62 million. The company expects fourth-quarter shipments and revenue in the range of $60 million to $70 million.

Fred's Inc. (FRED) said same-store sales for March rose 4.4 percent, compared with a 1 percent increase a year ago. The Memphis, Tenn., company said sales for the five-week period ended April 7 rose 9 percent to $172.2 million from $158.2 million a year ago. Fred's March performance was helped by customer traffic and the ongoing traction from marketing and operational initiatives, the company said. The company expects April sales to be hurt by the earlier Easter holiday. In March, Fred's opened two new stores and closed four stores. In 2007, the company plans to open 35 to 40 new stores, 15 to 25 new pharmacies, and expects to close certain stores.

Genaera Corp. (GENR) said it plans to cut its work force by 30 percent over the next three months as it realigns to focus on the development of obesity treatment trodusquemine. Separately, the company promoted its Senior Vice President of Corporate Communications Leanne M. Kelly to chief financial officer, replacing John A. Skolas, effective May 1.

Metro One Telecommunications Inc.'s (INFO) independent auditors included a going concern statement in its report on Metro's financial statements for the year ended Dec. 31.

SoftBrands Inc. (SBN) expects to report a fiscal second-quarter operating loss wider than the approximate $1 million loss initially anticipated. The Minneapolis-based supplier of enterprise-application software also expects to report revenue for the period ended March 31 of $20.5 million to $21 million, below its guidance of $24 million, hurt by its hospitality business.

Technitrol Inc. (TNL) said two of its directors will meet with two directors of Bel Fuse Inc. (BELFA) (BELFB) on April 17 to discuss Technitrol's offer to acquire Bel Fuse for $40.30 per share in cash. Philadelphia-based Technitrol, which makes electronic components, electrical contacts and assemblies, made its offer March 23 and said it has yet to hear a direct response from Bel Fuse. In a statement, Technitrol Chief Executive James Papada III said the company is "concerned about rumors that Bel Fuse is considering a significant acquisition and feels compelled to note if such an acquisition impacts the profitability of Bel Fuse or its strategic fit with Technitrol, it could lead to a substantial reduction or termination of the Technitrol offer."

Tecumseh Products Co. (TECUA) (TECUB) reported a fourth-quarter net loss of $63.8 million, or $3.45 a share, compared with a net loss of $51.9 million, or $2.81 a share, in the year-ago period. Revenue in the three months ended Dec. 31 rose to $437.3 million from $417.8 million.

TriZetto Group Inc. (TZIX) expects its first-quarter results to be towards the top end of its February guidance. The company previously forecast earnings of 8 cents to 12 cents a share on revenue of $100 million to $110 million.

Tvia Inc.'s (TVIA) audit committee had undertaken a review of stock option grant practices and related matters since the company's initial public offering in 2000. The Santa Clara, Calif.-based fabless semiconductor company said its review of the 2006 and 2007 fiscal years ended March 31 preliminarily determined that affected periods may extend beyond those originally indicated. Historical financial statements may need to be restated to recognize certain revenue on a cash basis and record additional charges, Tvia said.

Valeant Pharmaceuticals International (VRX) said results from a Phase II study showed its retigabine compound effectively reduced monthly seizure rates among epilepsy patients. The Aliso Viejo, Calif., pharmaceutical company said Tuesday that the 396-patient study showed a growing reduction in seizure rates at escalating doses compared with a placebo. The results were published in the journal Neurology.

Western Refining Inc.'s (WNR) $1.4 billion acquisition of Giant Industries Inc. (GI) has been challenged by the Federal Trade Commission. The agency approved a complaint challenging the merger, citing reduced competition for the bulk supply of light petroleum products to northern New Mexico.

William Lyon Homes Inc.'s (WLSM) new home orders in the first quarter ended March 31 grew 3 percent to 669 units from 647 a year earlier. The Newport Beach, Calif., home builder, which operates in California, Arizona and Nevada, said its average number of sales locations for the recent quarter increased 13 percent to 54 locations from 48 a year earlier, while new orders per location fell to 12.4 from 13.5 a year earlier.