Stocks to Watch: Bob Evans Farms, Krispy Kreme Doughnut, Hertz

SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Monday's session are Bob Evans Farms Inc., Krispy Kreme Doughnut Inc. and Hertz.

Bob Evans Farms (BOBE) is expected to report fourth-quarter earnings of 37 cents a share, according to a survey of analysts by Thomson Financial.

Credence Systems Corp. (CMOS) is expected to post breakeven results on a per-share basis for the second quarter.

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Diamond Foods Inc. (DMND) is expected to report a third-quarter loss of 16 cents a share.

Krispy Kreme (KKD) is expected to post earnings of 5 cents a share for the first quarter.

Sigma Designs Inc. (SIGM) is expected to report first-quarter earnings of 27 cents a share.

Watch list

Applied Biosystems (ABI) said its contract with the Defense Department surrounding the development of a prototype instrument system to improve the way infectious diseases are identified for epidemiological and biosecurity purposes has been terminated by the government. Applied Biosystems said it had successfully completed all technical milestones required by the contract, and that the action was taken by the government after the company and the Air Force were unable to agree on an approach for further development and commercialization of an instrument system. Foster City, Calif.-based Applied Biosystems said it does not expects any material financial impact from the contract termination.

Bridgford Foods Corp. (BRID) reported a fiscal second-quarter net loss of $273,000, or 3 cents per basic share, compared with a year-ago net profit of $72,000, or a penny per basic share. The Anaheim, Calif.-based company said revenue in the 12 weeks ended April 20 fell 1.5 percent to $27.9 million from $28.3 million in the comparable period last year.

Continental Airlines Inc. (CAL) said that traffic in May rose 6.4 percent, while capacity increased 5.8 percent. Load factor, or the percentage of the plane filled with passengers, rose 0.5 percentage points to 81.5 percent, the Houston-based carrier said.

Cedar Fair Entertainment Co. (FUN) said combined 2007 revenues at its parks through the Memorial Day weekend totaled $147.2 million on 3 million guest visits and average in-park per capita spending of $41.26. The 2007 results include the operations of the Paramount parks that the company acquired from CBS in June 2006. On a same-park basis, the company said to revenues fell 2 percent, or $1.5 million, from a year ago. Cedar Fair said it opened several of its amusement parks later in 2007 than in 2006, thus reducing the number of operating days in 2007 by 10 percent, or 19 days. The Sandusky, Ohio-based company expects the decrease in revenues to be offset by a reduction in seasonal operating expenses. Attendance on a same-park basis fell 5 percent, while average in-park guest per capita spending increased 5 percent.

Cell Therapeutics Inc. (CTIC) said it has filed a universal shelf registration statement with the Securities and Exchange Commission, registering $150 million worth of securities to be offered. The number and price of the securities will be determined at the time they are sold, the Seattle-based biopharmaceutical company said.

Centene Corp. (CNC) said it has named Eric Slusser as chief financial officer, effective July 9. St. Louis-based Centene is a health-care company.

Standard & Poor's said that Carpenter Technology Corp. (CRS) will replace OSI Restaurant Partners Inc. (OSI) in the MidCap 400 index. Also, S&P said that Alabama National Bancorp. (ALAB) will replace Carpenter Tech in the SmallCap 600 index on a date to be announced. OSI is being acquired by an investor group led by Bain Capital Partners LLC, Catterton Management Co., and OSI founders in a deal still pending final approvals. Additionally, S&P said that Charlotte Russe Holding Inc. (CHIC) will replace Keane Inc. (KEA) in the SmallCap 600 after the close of trading on June 4. Keane is being acquired by Caritor Inc. in a deal expected to close by that date, pending final approvals.

Hertz Global Holdings Inc. (HTZ) expects to eliminate or alter 480 positions during the second quarter, incurring a charge of $8 million to $10 million for severance packages and other costs. The Park Ridge, N.J., car rental brand said the restructuring is part of a plan to create $24 million in annualized savings. Hertz expects first-quarter initiatives, which affected 1,550 positions, to result in $140 million in annualized savings. Hertz shares were trading down after hours at $21.95, after closing the regular session trading at $22.49.

SanDisk Corp. (SNDK) said a court ruled that STMicroelectronics NV (STM) did not violate trade law because the SanDisk patent's claims are invalid. The Milpitas, Calif., flash memory company said it was disappointed with the ruling, which was handed down from an administrative law judge at the U.S. International Trade Commission. The company said it is still reviewing its options in responding to the ruling.

Scholastic Corp. (SCHL) said it has entered into a $200 million accelerated share buyback agreement with Deutsche Bank. In connection with this agreement, the New York-based publishing company said it expects to repurchase an estimated 14 percent of its currently outstanding common stock.

Tribune Co. (TRB) said it has received a settlement offer in its appeal of the 2005 tax court decision disallowing the tax free reorganization of Matthew Bender, a former subsidiary of the Times Mirror Co. Tribune acquired Times Mirror in 2000 and inherited the tax dispute. Under the proposed settlement, Tribune would receive refunds of roughly $350 million in federal and state income taxes and interest resulting from payments previously made for both the Matthew Bender transaction and a similar transaction completed by Times Mirror. The 7th Circuit U.S. Court of Appeals has agreed to defer a June 5 oral argument in the case for 90 days to allow for governmental review and approval of the offer.

Bridgford Foods Corp. (QDEL) reported a fiscal second-quarter net loss of $273,000, or 3 cents per basic share, compared with a year-ago net profit of $72,000, or a penny per basic share. The Anaheim, Calif.-based company said revenue in the 12 weeks ended April 20 fell 1.5 percent to $27.9 million from $28.3 million in the comparable period last year.