SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Thursday's session are Costco Wholesale Corp., Dell Inc. and Apple Inc.
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Big Lots Inc. (BIG) is expected to report first-quarter earnings of 20 cents a share, according to a survey of analysts by Thomson Financial.
Brocade Communications Systems Inc. (BRCD) is expected to post earnings of 9 cents a share for the second quarter.
Ciena Corp. (CIEN) is expected to report second-quarter earnings of 25 cents a share.
Costco (COST) is expected to post earnings of 56 cents a share for the third quarter.
Dell (DELL) is expected to report first-quarter earnings of 26 cents a share.
H.J. Heinz Co. (HNZ) is expected to post earnings of 55 cents a share for the fourth quarter.
Jackson Hewitt Tax Service Inc. (JTX) is expected to report fourth-quarter earnings of $1.95 a share.
Pall Corp. (PLL) is expected to post earnings of 43 cents a share for the third quarter.
Sears Holdings Corp. (SHLD) is expected to report first-quarter earnings of $1.22 a share.
Tiffany & Co. (TIF) is expected to post earnings of 35 cents a share for the first quarter.
Also, Yahoo Inc. (YHOO) said its chief technology officer, Farzad Nazem, has resigned from the company.
And, Motorola Inc. (MOT) said that it's firing an additional 4,000 workers — more than double the amount of the company's previously announced cutbacks, as it deals with continued pressure from falling sales of its wireless handsets.
3D Systems Corp. (TDSC) reported that its first-quarter net loss widened to $3.12 million from $1.54 million in the same quarter last year. Net loss available to the common stockholders came in at $3.12 million, or 16 cents a share, compared with a net loss of $1.95 million, or 13 cents a share, in the year-ago period. The Rock Hill, S.C.-based maker of 3-D printing, prototyping, and manufacturing systems said revenue in the three months ended March 31 increased 9.8 percent to $36.9 million from $33.6 million for the first quarter of 2006.
Applebee's International Inc.'s (APPB) system-wide U.S. comparable sales fell 2.1 percent in May. Comparable-store sales for company restaurants fell 2.9 percent in May, while comparable sales for U.S. franchise restaurants dropped 1.9 percent. The Overland Park, Kan., company said customer traffic dropped 3 percent to 3.5 percent, but the average check rose as menu prices rose 1.5 percent.
Ceridian Corp. (CEN) said it has agreed to be acquired by Thomas H. Lee Partners L.P. and Fidelity National Financial Inc. (FNF) for $36 a share, or roughly $5.3 billion in cash. Minneapolis-based Ceridian, a provider of human resources, transportation and retail information management services, announced in February that it was exploring strategic alternatives. Thomas H. Lee Partners and Fidelity said they expect to bring co-investors into the transaction, and that Fidelity will own less than 50 percent of Ceridian when the deal closes. The acquisition is expected to be completed in the fourth quarter.
Chico's FAS Inc. (CHS) reported first-quarter net earnings of $47.2 million, or 27 cents a share, down 10 percent from $52.5 million, or 29 cents a share, during the year-ago period. The Fort Myers, Fla.-based apparel retailer said revenue for the 13 weeks ended May 5 rose to $453.1 million from $390.7 million in the comparable period last year, while same-store sales at company-owned stores fell 1.6 percent. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 26 cents on revenue of $457 million.
Computer Sciences Corp. (CSC) said it has found "significant errors" in its accounting for tax liabilities in fiscal years 2000 through 2006, and has delayed filing its 2007 annual report on Form 10-K. The El Segundo, Calif.-based company said it estimates that the correction of the errors will result in a cumulative charge of $300 million to $400 million through March 31, 2006. The amount doesn't include the cumulative charge of $60 million through March 31, 2006, related to the stock-option investigation, which was previously disclosed and recorded, the company said. CSC also said that financial statements included in its previously filed annual report on Form 10-K for the year ended March 31, 2006, should not longer be relied upon. The company said it will restate prior periods in its Form 10-K for the year ended March 30, 2007, which it currently expects to file on or prior to June 13.
Delia's Inc.'s (DLIA) fiscal first-quarter loss widened to $3.27 million, or 11 cents a share, from $1.22 million, or 5 cents a share, a year earlier. The New York retailer said for the quarter ended May 5, revenue rose 11 percent to $57.8 million from $51.9 million a year ago. On average, analysts polled by Thomson Financial expected a loss of 7 cents a share on revenue of $57.5 million. The company said same-store sales in its retail segment rose 9 percent. Net sales in retail stores jumped 34 percent and direct segment sales rose 11 percent on a comparable calendar basis.
EBay Inc. (EBAY) said it has acquired StumbleUpon, a company that helps people discover and share content online, for roughly $75 million. StumbleUpon's 2.3 million users deliver roughly 5 million new recommendations a day about Web sites, videos, photos and other content, San Jose, Calif.-based eBay said. San Francisco-based StumbleUpon's current founders and management team will remain in place, and EBay said it does not expect the deal to have a material impact on its financial forecast.
Great Atlantic & Pacific Tea Co. (GAP) said it is in advanced negotiations with a number of buyers for its 21 Sav-A-Center stores based in Louisiana. Montvale, N.J.-based A&P said it is "optimistic" that the Sav-A-Center operations can be sold to a single buyer "committed to the continuity of the business." The company said its decision to sell the stores is consistent with its strategy to focus resources on the development and expansion of its core Northeast operations.
Heico Corp. (HEI) reported second-quarter net earnings of $9.41 million, or 35 cents a share, up 25% from $7.54 million, or 28 cents a share, during the year-ago period. The Hollywood, Fla.-based maker of components and parts for the aerospace and electronics industries said revenue for the three months ended April 30 rose to $121.2 million from $92.1 million. Analysts, on average, had forecast a per-share profit of 34 cents on revenue of $114 million. Additionally, Heico said it's raising its fiscal 2007 outlook, and now expects per-share earnings of $1.39 to $1.41 on revenue of $475 million to $480 million, excluding the impact of additional acquisitions.
Jo-Ann Stores Inc.'s (JAS) fiscal first-quarter loss narrowed to $1.7 million, or 7 cents a share, from a year-earlier loss of $6.6 million, or 28 cents a share. The Hudson, Ohio, fabric and crafts retailer said revenue for the quarter ended May 5 fell slightly to $424.2 million from $424.7 million, as same-store sales increased 1.8 percent. On average, analysts polled by Thomson Financial expected a loss of 7 cents a share on revenue of $435 million. Jo-Ann Stores backed its fiscal 2008 earnings estimate of 55 cents to 65 cents a share and same-store sales to improve to positive.
Lionsgate (LGF) reported fiscal fourth quarter net earnings of $25 million, or 19 cents a share, down 36 percent from $38.9 million, or 27 cents a share, in the year-ago period. The entertainment studio said revenue in the three months ended March 31 rose 6 percent to $331.6 million from $312.3 million in the prior year's fourth quarter. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 22 cents on revenue of $319 million.
Motorola Inc. (MOT) said its independent inspector of election results confirmed all board nominees were elected by shareholders during the annual meeting. The Shaumburg, Ill., company said John A. White received 931.7 million votes, while Carl C. Icahn received about 717.1 million votes. All remaining nominees were re-elected. Motorola said shareholders representing 1,676,089,963 shares, or 70.3 percent, of common stock, either voted by proxy or in person at the meeting.
News Corp.'s (NWS) (NWSA) Fox News named Brian Jones senior vice president of operations for its Fox Business Channel. The company said most recently, Jones was vice president of news for Fox News Channel.
Novell Inc. (NOVL) reported a second-quarter net loss of $2.19 million. During the same period a year ago, net earnings were $3.34 million. The Waltham, Mass.-based software company posted earnings available to common shareholders of $2.19 million, or a penny a share. A year ago, the loss available to common shareholders was $3.18 million, or a penny a share. There were 346.5 million shares outstanding during the quarter compared with 385.3 million last year. Revenue rose to $239.2 million from $233.1 million last year.
Payless ShoeSource Inc.'s (PSS) first-quarter net income rose 8 percent to $38.9 million, or 59 cents a share, from $36 million, or 53 cents a share, a year earlier on a same-store sales increase 5 percent. Earnings include pretax costs of $6.1 million, or 6 cents a share, related to its distribution center initiative, the Topeka, Kan., shoe retailer said. Sales for the quarter ended May 5 increased 4.9 percent to $728.6 million from $694.8 million. On average, analysts polled by Thomson Financial predicted first-quarter earnings of 58 cents a share and revenue of $723.6 million.
Semtech Corp.'s (SMTC) board approved an accelerated stock repurchase program and expects to agree to a privately negotiated repurchase of $150 million of its shares from Goldman Sachs & Co.
Semtech Corp.'s (SMTC) first-quarter earnings fell 33 percent to $7.93 million, or 11 cents a share, from $11.8 million, or 16 cents a share, a year earlier. Non-GAAP earnings for the quarter were 14 cents a share. The Camarillo, Calif., computer chip maker's revenue for the quarter ended April 29 fell to $60.6 million from $65.9 million. On average, analysts expected a profit of 10 cents a share and revenue of $57.6 million, according to Thomson Financial. The company expects second-quarter earnings of 9 cents to 10 cents a share. The company expects adjusted earnings of 14 cents to 15 cents a share.
Theravance Inc. (THRX) said the European Medicines Agency has validated the marketing authorization application for telavancin, a treatment of complicated skin and soft tissue infections in adults. Theravance's partner, Astellas Pharma Europe B.V., a subsidiary of Astellas Pharma Inc. (ALPMF) , submitted the application in April 2007 and applied for marketing approval for telavancin in the 27 European Union member states, plus Iceland, Liechtenstein and Norway. Completion of the validation period for the application means the submission is complete and the review process has begun.
TiVo Inc. (TIVO) reported first-quarter net earnings of $835,000, or a penny a share. During the same period a year ago, the Alviso, Calif.-based maker of digital video recorders posted a net loss of $10.7 million or 13 cents a share. Adjusted earnings before interest, taxes, depreciation and amortization were $6.7 million. A year ago, the adjusted loss was $6.9 million. Net revenues for the three months ended April 30 rose to $60.4 million from $56.8 million. Analysts, on average, had forecast per-share loss of 2 cents on revenue of $58 million.
Trex Co. (TWP) said it now expects per-share earnings for the first half of 2007 to range from 40 cents to 50 cents on revenue of $215 million to $225 million. In March, the company forecast per-share earnings of 70 cents to 80 cents on revenue of $225 to $235 million for the six-month period. For full-year 2007, the Winchester, Va.-based manufacturer of composite decking, railing and fencing said it now sees revenue of $330 million to $350 million, down from its previous outlook of $350 million to $370 million.
Yahoo Inc. (YHOO) said that Chief Technology Officer Farzad Nazem is resigning, effective June 8. According to a regulatory filing, the Sunnyvale, Calif.-based Internet portal will pay Nazem a lump sum payment equal to his base salary for the period from his resignation date through the end of the year.
ValueClick Inc. (VCLK) said it has appointed Tom Vadnais as chief executive, succeeding James Zarley. Vadnais most recently served as president of U.S. operations and has been a member of the board since October 2001. The Westlake Village, Calif.-based online marketing services company said that Zarley has been named executive chairman of the board.
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