SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Friday's session are Intuit Inc., Focus Media Holding Ltd. and Trump Entertainment Resorts Inc.
After Thursday's closing bell, Intuit (INTU) , maker of TurboTax and other financial software, reported third-quarter financial results including profit and sales that beat analysts' expectations.
Also, Nordstrom Inc. (JWN) reported that its fiscal first-quarter profit climbed 19 percent on strong Internet sales growth and thriving women's spring fashions sales inside its stores.
And, Kohl's Corp. (KSS) said its first-quarter profit surged 25 percent as the moderate-priced department-store retailer hit on all cylinders.
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99 Cents Only Stores (NDN) reported third-quarter net earnings of $8.94 million, or 13 cents a share, up 31 percent from $6.84 million, or 10 cents a share, during the year-ago period. The City of Commerce, Calif.-based discount retailer posted revenue for the three months ended Dec. 31, 2006, of $302.1 million vs. $278.8 million. The company also said that it filed its Form 10-Q for the quarter yesterday, bringing it current with its Securities and Exchange Commission filings.
Autodesk Inc.'s (ADSK) fiscal first-quarter revenue increased 17 percent to $509 million. Analysts polled by Thomson Financial, on average, expected first-quarter revenue of $500 million. The San Rafael, Calif., maker of design software said its stock-option review prevented it from providing earnings figures. Autodesk expects second-quarter revenue of $520 million to $530 million.
First Charter Corp. (FCTR) said Chief Financial Officer Charles Caswell has resigned but will remain engaged through Aug. 17 to assist in the transition of his role. Charlotte, N.C.-based First Charter, a financial services holding company, named Sheila Stoke, the company's controller, as principal financial officer on an interim basis.
Focus Media Holding (FMCN) first-quarter net income rose 73 percent to $16.3 million, or 15 cents an American depository share, from $9.43 million, or 10 cents per ADS, a year earlier. Excluding stock-based compensation and amortization from acquisitions, earnings were 21 cents per ADS. Revenue for the Shanghai advertising company jumped to 76 percent to $58.1 million from $33.1 million.
General Electric Co. (GE) is close to a final agreement to sell its plastics division, according to a media report late Thursday. Saudi Basic Industries Corp. of Riyadh and Basell of Hoofddorp, Netherlands, are competing to reach a deal as early as Monday, The Wall Street Journal reported on its Web site, citing people familiar with the matter. They are the remaining bidders after an extended auction process, the report said.
General Motors Corp.'s (GM) head of advertising in North America, Mike Jackson, will leave the company next month, according to a media report Thursday. Jackson is leaving GM to pursue to other business opportunities and the Detroit-based automaker does not plan to name a successor, The Wall Street Journal reported on its Web site. The general managers of GM's eight auto brands and other executives who previously reported to Jackson will now report to Mark LaNeve, GM's vice president for North American vehicle sales, service and marketing, the report said.
Jackson Hewitt Tax Service Inc. (JTX) said it now expects fiscal 2007 earnings of $1.95 to $2 a share, compared with its previous forecast of $1.90 to $2 a share, and still expects revenue in a range of $290 million to $295 million. The Parsippany, N.J.-based company said its network of franchised and company-owned offices prepared 3.65 million tax returns in 2007, down 0.2 percent from the previous fiscal year. Jackson Hewitt had previously forecast 1 percent to 3 percent growth in the number of tax returns prepared.
Standard & Poor's said it would add Kindred Healthcare Inc. (KND) to the S&P MidCap 400, replacing Martek Biosciences Corp. (MATK).
PMI Group Inc. (PMI) said its board has elected Chief Executive L. Stephen Smith as chairman, replacing Roger Haughton, who has retired from the board. Walnut Creek, Calif.-based PMI is a provider of mortgage insurance and credit enhancement products.
Sonic Solutions Inc. (SNIC) posted partial results as it continues the internal review of its stock option grant practices and related accounting. The Novato, Calif.-based software company reported fiscal fourth-quarter net revenue of $38.1 million. Sonic said believes it will have to record additional cash and non-cash charges for stock-based compensation expense, and restate previous financial statements, and that the charges will be material. The company said it hasn't been able to determine the amount of the charges at this time. Additionally, Sonic said it expects first-quarter net revenue of between $33 million and $35 million.
Trump Entertainment Resorts (TRMP) said its strategic committee recently received preliminary and conditional indications of interest from parties proposing to acquire the company.
UAL Corp. (UAUA), the parent company of United Airlines, said it has reduced 2007 mainline domestic capacity growth by about 2 percent from previously planned levels. The reduction enables the company to meet increasing international demand and optimize its revenue performance, the Chicago-based carrier said. On a system basis, the domestic capacity reduction will be partially offset by an increase in international capacity of about 0.5 percent, the company said. Additionally, UAL said it now estimates that mainline operating cost per available seat mile, excluding fuel, severance and special items, will increase by about 1 percent for the second quarter of 2007 vs. the year-ago period. For the full-year 2007, the cost is expected to increase by 1.5 percent to 2 percent from 2006
Veeco Instruments Inc. (VECO) said it has named John Peeler as chief executive officer, succeeding Edward Braun, who will remain chairman of the board. Peeler will join Veeco from JDSU (JDSU), where he served as president of the communications test and measurement business.
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