SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Thursday's session are General Mills Inc., Monsanto Co., Bed Bath & Beyond Inc. and Red Hat Inc.
Constellation Brands Inc. (STZ) is expected to report fiscal first-quarter earnings of 15 cents a share, according to a poll of analysts conducted by Thomson Financial.
Family Dollar (FDO) is seen posting fiscal third-quarter earnings of 41 cents a share.
General Mills Inc. (GIS) is expected to report a per-share profit of 63 cents for its fiscal fourth quarter.
KB Home's (KBH) second-quarter per-share earnings are expected to come in at 7 cents.
Micron Technology (MU) is seen posting a fiscal third-quarter loss of 24 cents a share.
Monsanto Co.'s (MON) fiscal third-quarter results are expected to show a profit of 98 cents a share.
Palm Inc. (PALM) is expected to post per-share earnings of 15 cents for its fiscal fourth quarter.
Research in Motion Ltd.'s (RIMM) first-quarter per-share profit is expected to come in at $1.06 a share.
Rite Aid Corp. (RAD) is expected to report a loss of a penny a share for its fiscal first quarter.
Solectron (SLR) is seen reporting earnings of 5 cents a share for its fiscal third quarter.
After Wednesday's closing bell, Bed Bath & Beyond Inc. (BBBY) posted a small rise in its fiscal first-quarter profit, including a same-store sales increase that was in line with the home accessories and furnishings retailer's recently lowered forecast.
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Atmel Corp.'s (ATML) first-quarter net income rose sharply to $28.9 million, or 6 cents a share, from $4.7 million, or 1 cent a share, a year earlier as the company recorded a $15.2 million tax benefit. The San Jose radio-frequency chip maker's revenue fell 2.4 percent to $391.3 million from $400.8 million in the year-ago period. On average, analysts expected revenue of $391 million, according to a poll by Thomson Financial.
Business Objects SA (BOBJ) said that the U.S. Court of Appeals for the Federal Circuit on confirmed the decision by a lower court that Business Objects didn't infringe on three MicroStrategy Inc. (MSTR) patents.
CACI International Inc. (CAI) said it expects fiscal 2008 earnings of $2.50 to $2.80 a share. The Arlington, Va., information technology company estimates 2008 net income of $76.5 million to $85.7 million on revenue of $2.05 billion to $2.15 billion. The forecasted revenue includes about $125 million from the company's recent acquisitions of IQM Inc. and Wexford International Group, CACI said. On average, analysts polled by Thomson Financial projects fiscal 2008 earnings of $2.80 a share and revenue of $2.01 billion.
Capital One Financial Corp. (COF) began a restructuring initiative that will cut about 2,000 jobs across the company and reduce operating expenses by an estimated $700 million. The company said the initiative will focus on structural changes and consolidation of operations and platforms. About half of the job cuts have already happened, and the company expects to achieve additional saving from attrition and the elimination of selected vacant positions. The McLean, Va., financial holding company said it will realize $400 million in cost reductions in 2008 and about $300 million in 2009.
CKE Restaurants (CKR) reported fiscal first-quarter net earnings of $15.4 million, or 23 cents a share, down from $16.2 million, or 23 cents a share, in the year-ago period. The Carpinteria, Calif.-based company said revenue in the three months ended May 21 rose 1.6 percent to $481.8 million from $474 million in the comparable period a year ago. First-quarter same-restaurant sales were flat at Carl's Jr. and increased 1.8 percent at Hardee's. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 28 cents on revenue of $489 million. Separately, CKE said same-restaurant sales at Carl's Jr. rose 2.8 percent in the four-week period ended June 18, while Hardee's same-restaurant sales rose 2.6 percent.
Crown Castle International Corp. (CCI) reaffirmed its forecast for a second-quarter loss of 10 cents to 23 cents a share and a 2007 loss of 36 cents to 76 cents a share. Separately, the Houston-based operator of wireless infrastructure said its shareholders began a secondary offering of 36.4 million shares. Crown Castle won't receive any proceeds from the sale, the company said. Crown Castle shares were trading down after-hours at $34.52, after closing the regular session trading at $35.
CryoCor Inc. (CRYO) said a Food and Drug Administration advisory panel recommended that its application for pre-market approval for a medical device to treat atrial flutter be approved. A decision from the FDA on CryoCor's PMA is expected in August 2007.
Digital River Inc. (DRIV) now expects to record second-quarter net income of 31 cents to 32 cents on revenue of $78 million, compared with its previous estimate of 39 cents. The Minneapolis e-commerce company expects to post adjusted per-share earnings, excluding certain items, of 38 cents to 39 cents, compared with its previous guidance of 46 cents. The company called the second-quarter a "seasonally soft quarter." On average, analysts expect adjusted per-share earnings of 46 cents on revenue of $85.3 million, according to a poll by Thomson Financial. The now expects 2007 per-share earnings of $1.58 to $1.62, or $1.85 to $1.89 on an adjusted basis, on revenue of $345 million, down from previous estimates.
Hartmax Corp. (HMX) reported second-quarter net earnings of $5.38 million, or 15 cents a share, up 39 percent from $3.88 million, or 10 cents a share, in the year-ago period. The Chicago-based apparel company said revenue in the quarter ended May 31 rose to $156.5 million from $153 million in the comparable period last year. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 12 cents on revenue of $153 million. Hartmax still expects fiscal 2007 earnings of 50 cents to 56 cents a share on revenue of $585 million to $600 million.
Intervoice Inc. (INTV) reported fiscal first-quarter net loss of $873,000, or 2 cents a share, versus a net loss $405,000, or a penny a share, in the year-ago period. Excluding items, the company posted a profit of 4 cents a share, versus breakeven results last year. The Dallas-based provider of voice automation and data management products said revenue in the three months ended May 31 rose to $47.7 million from $45.7 million in the comparable period last year. Analysts polled by Thomson Financial were expecting, on average, a per-share loss of 2 cents on revenue of $48 million.
LSI Corp. (LSI) said it will cut 900 jobs, or 13 percent of its non-production work force, across all of its operations to reduce operating costs. The Milpitas, Calif., computer chips and boards maker also said it entered a definitive agreement to sell its consumer products unit to Magnum Semiconductor Inc. for an undisclosed amount. The company said the moves will lower adjusted operating expenses by $255 million to $265 million in the third quarter and $275 million to $295 million in the fourth quarter. For the second quarter, the company cut its forecasts. It now expects a per-share loss of 52 cents to 43 cents, or between 3 cents and break-even adjusted, on revenue of $650 million to $670 million.
Paychex Inc.'s (PAYX) fiscal fourth-quarter net income rose 12 percent to $137.2 million, or 36 cents a share, from $122.7 million, or 32 cents a share, a year earlier. Revenue for the period ended May 31 increased 11 percent to $487.3 million from $440.5 million, as the company recorded payroll service and human resource services revenue of $343.8 million and $106.7 million, respectively. On average, analysts polled by Thomson Financial expected earnings of 36 cents a share on revenue of $496 million. Additionally, Paychex said it recorded a $13 million expense for a licensing dispute related to its Rapid Payroll Inc.
Red Hat Inc. (RHT) reported a first-quarter profit of $16.2 million, or 8 cents a share, on revenue of $118.9 million, up from $13.2 million, or 7 cents a share, on $84 million in revenue during the same period a year ago. Excluding one-time items, Red Hat would have earned $33.7 million, or 16 cents a share. By that measure, Red Hat beat the estimates of analysts surveyed by Thomson Financial, who forecast a profit of 15 cents a share on $117 million in revenue. Red Hat also said its revenue from software subscriptions rose 44 percent from the year-ago quarter to $103 million.
Smart Modular Technologies Inc. (SMOD) reported fiscal third-quarter net income of $14.2 million, or 22 cents a share, versus $6.46 million, or 10 cents a share, a year earlier. The Fremont, Calif.-based memory modules manufacturer said revenue for the quarter ended May 7 fell 1 percent to $186.5 million from $188.5 million in the comparable period last year. Analysts polled by Thomson Financial were expecting, on average, per-share earnings of 22 cents on revenue of $234.6 million. The company forecast fourth-quarter earnings of 23 cents to 24 cents a share on revenue of $200 million to $220 million.
Whiting Petroleum priced a public offering of 5 million shares at $40.50 each, and expects to receive net proceeds of to $193.9 million.
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