SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Friday's session are Boston Scientific Corp., Caterpillar Inc., and Citigroup Inc.
Boston Scientific (BSX) is expected to report second-quarter earnings of 9 cents a share, according to a survey of analysts by Thomson Financial.
Caterpillar (CAT) is expected to post earnings of $1.49 a share for the second quarter.
Citigroup (C) is expected to report second-quarter earnings of $1.13 a share.
Great Atlantic & Pacific Tea Inc. (GAP) is expected to post a loss of 30 cents a share for the first quarter.
Kinetic Concepts Inc. (KCI) is expected to report second-quarter earnings of 74 cents a share.
Satyam Computer Services Ltd. (SAY) is expected to post earnings of 25 cents per American Depositary Share for the first quarter.
Schlumberger Ltd. (SLB) is expected to report second-quarter earnings of 95 cents a share.
Sonoco Products (SON) is expected to post earnings of 59 cents a share for the second quarter.
Telefon AB LM Ericsson (ERIC) is expected to report second-quarter earnings of 64 cents per ADS.
Wachovia Corp. (WB) is expected to post earnings of $1.22 a share for the second quarter.
After Thursday's closing bell, Google Inc. (GOOG) saw earnings jump more than 28% in the second quarter, though the bottom line came in slightly beneath Wall Street's expectations for the Internet search giant.
Also, Microsoft Corp. (MSFT) said its fiscal fourth-quarter profit rose only slightly compared to the same period a year earlier, due to a previously-announced $1 billion charge resulting from its Xbox video game business.
And, Advanced Micro Devices Inc. (AMD) reported it swung to a second-quarter loss, stung by lower prices for its computer chips and acquisition-related charges.
Arena Pharmaceuticals Inc. (ARNA) reported a second-quarter net loss of $38.6 million, versus $18.5 million during the year-ago period. The company posted a net loss allocable to common stockholders of $39.1 million, or 64 cents a share, compared with a net loss allocable to common stockholders of $19 million, or 40 cents a share, a year ago. The San Diego-based company said revenue for the three months ended June 30 fell to $4.81 million from $9.33 million last year.
Broadcom Corp.'s (BRCM) second-quarter earnings plunged 68 percent, due to variability in the ordering patterns of some customers and higher operating expenses. The Irvine, Calif., semiconductor maker had second-quarter earnings of $34.3 million, or 6 cents a share, compared with $106.1 million, or 18 cents a share, a year earlier. Excluding the cost of accounting for stock options, charges related to acquisitions and other items, the company had pro forma earnings of 27 cents a share, compared with 36 cents a share a year earlier. Broadcom said net revenue for the quarter fell 4.6 percent to $897.9 million from $941.1 million a year ago.
Capital One Financial (COF) reported second-quarter net income rose 36 percent to $750.4 million, or $1.89 a share, vs. $552.6 million, or $1.78 a share, during the year-ago period. The credit card company said it expects full-year 2007 earnings to be towards the lower end of a previously announced range of $7 to $7.40 a share.
Cytec Industries Inc.'s (CYT) second-quarter net income rose 13 percent to $54.8 million, or $1.11 a share, from $48.5 million, or $1 a share, a year earlier on sales growth in the engineered materials unit. Excluding items, earnings were $56.6 million, or $1.15 a share. The West Paterson, N.J., chemical company said net sales rose 1.3 percent to $864 million from $853.1 million a year ago.
Dow Jones & Co. (DJ) Director Dieter von Holtzbrinck resigned in protest over the board's decision to recommend acceptance of New Corp.'s $5 billion takeover offer. In a letter to the board filed with the Securities and Exchange Commission, von Holtzbrinck said "although I'm convinced that News Corp. offer is very generous in financial terms, I'm very worried that Dow Jones unique journalistic values will long-term strongly suffer after the proposed sale." He added that, "listening to our lawyers, one has to vote for a deal which is in the best (financial) interest for the shareholders, except if one can prove that such [a] deal bears risks for the company that overcompensate the financial profits."
First Data Corp.'s (FDC) second-quarter net income fell 51 percent to $228.9 million, or 30 cents a share, from $462.6 million, or 60 cents a share, a year earlier. Exclude certain items, earnings were 31 cents a share, up from 26 cents a share a year earlier. The Denver-based e-commerce and payment services company said revenue increased 16 percent to $2 billion from $1.73 billion a year ago.
Gilead Sciences Inc. (GILD) said its profit in the second quarter surged more than 53 percent, driven by a 60 percent rise in sales of its HIV treatments.
Hub Group Inc. (HUBG) reported second-quarter net earnings of $13.8 million, or 35 cents a share, up 10% from $12.5 million, or 30 cents a share, during the year-ago period. The Downers Grove, Ill.-based transportation management company said that revenue for the three months ended June 30 rose to $401.6 million from $395.3 million.
Informatica Corp.'s (INFA) second-quarter earnings rose to $10.5 million, or 11 cents a share, from $7.63 million, or 8 cents a share, a year earlier. Non-GAAP earnings were 16 cents a share for the quarter. A Thomson Financial survey of analysts, on average, predicted earnings of 16 cents a share for the quarter. Analysts' estimates usually exclude items. The California software provider's revenue rose 17 percent to $94.3 million from $80.8 million, boosted in part by service revenue.
Intuitive Surgical Inc. (ISRG) reported second-quarter net earnings of $30.7 million, or 79 cents a share, up 84 percent from $16.7 million, or 44 cents a share, during the year-ago period. The Sunnyvale, Calif.-based maker of surgical robotics said revenue for the three months ended June 30 rose 61% to $140.2 million from $87 million in the comparable period last year.
Leggett & Platt Inc. (LEG) , hit by weaker sales, reported late Thursday second-quarter net income of $60 million, or 33 cents a share, down from $84.2 million, or 45 cents, a year ago. Revenue for the quarter ended June 30 fell 3 percent to $1.32 billion from $1.36 billion. Analysts polled by Thomson Financial expected the engineered parts maker to post per-share earnings of 31 cents on $1.3 billion in revenue. The company trimmed its 2007 per-share earnings outlook to $1.28 to $1.44 from $1.35 to $1.55 earlier. The revised outlook includes restructuring-related costs of 10 cents a share, twice the earlier 5-cent estimate.
Mohawk Industries Inc.'s (MHK) second-quarter net income fell 4 percent to $115.3 million, or $$1.68 a share, from a year-earlier profit of $119.5 million, or $1.76 a share, on a decline in the new home and consumer redecorating. The Calhoun, Ga., floor covering company's revenue declined 4 percent to $1.98 billion from $2.06 billion a year earlier.
Oakley Inc.'s (OO) second-quarter net income rose to $21.5 million, or 31 cents a share, from $17.9 million, or 26 cents a share, a year earlier, boosted in part by U.S. retail sales. A Thomson Financial survey of analysts, on average, predicted earnings of 31 cents a share for the quarter. Analysts' estimates usually exclude items. The California sunglass maker's sales rose 29 percent to $263.2 million from $203.6 million.
Pfizer Inc. (PFE) said the Committee for Medicinal Products for Human Use of the European Medicines Agency has recommended marketing authorization for Celsentri for use in patients infected with CCR5-Tropic HIV-1. The positive opinion will be reviewed by the European Commission, and Pfizer said it expects a final decision in the coming months. Pfizer recently received an approvable letter for the drug from the Food and Drug Administration.
PMC-Sierra Inc.'s (PMCS) second-quarter loss narrowed to $22.3 million, or 10 cents a share, from $31.8 million, or 16 cents a share, a year earlier, helped by its enterprise storage, fiber to the home and telecom businesses. Excluding items, the Santa Clara, Calif., maker of mixed-signal integrated circuits said earnings rose 68 percent to $7.4 million, or 3 cents a share, from $4.4 million, or 2 cents a share, a year earlier. Revenue fell 12 percent to $104.7 million from $118.8 million a year earlier.
Polycom Inc.'s (PLCM) net income declined to $10.08 million, or 11 cents a share, from a year-earlier profit of $15 million, or 17 cents a share. Excluding restructuring expense and other items, net income for the recent period was $28.9 million, or 30 cents a share, compared with $21.9 million, or 24 cents a share, a year earlier. The Pleasanton, Calif., communications systems provider's revenue rose 42 percent partly due to an acquisition, to $233.9 million from $165 million a year earlier.
SanDisk Corp. (SNDK) reported that second-quarter profit fell 71 percent from a year ago, but the NAND flash memory developer saw its shares rise 5 percent in after-hours trading as company officials said gross margins should improve through the rest of the year.
Seagate Technology (STX) reported a huge rise in fourth-quarter profit that was helped by increased disk-drive sales and a large tax break.
South Financial Group Inc. (TSFG) reported second-quarter net earnings of $17.9 million, or 24 cents a share, down 39 percent from $29.3 million, or 39 cents a share, during the year-ago period. The Greenville, S.C.-based financial services company said that net interest income for the three months ended June 30 fell to $96.5 million from $103.1 million.
Southwest Airlines Co. (LUV) said that founder Herb Kelleher, 76, would step down from his position as executive chairman at the airline carrier's 2008 annual meeting, leaving a post he has held since 1978. The Dallas-based discount airline also said president Colleen Barrett, 62, would continue in that role for another year. She's held that position since 2001. Southwest CEO Gary Kelly, 52, will remain in his current role, with his contract expiring 2011.
Spansion Inc.'s (SPSN) second-quarter net loss narrowed to $66.9 million, or 50 cents a share, from a year-earlier loss of $48.8 million, or 38 cents a share, on improved gross margins. The Sunnyvale, Calif., flash-memory chip-maker's net sales declined to $609.2 million, from $655.4 million a year earlier. Spansion said the outlook for the third-quarter pricing environment is uncertain along with its gross margin outlook, but it expects sequential net sales to increase due to positive seasonal trends and continued growth in its consumer smart card industrial division.
Stryker Corp. (SYK) posted a nearly 26 percent increase in second quarter profit, driven by strong demand for its orthopedic implants and brisk sales at its endoscopy and instruments units. Stryker said it earned $269.1 million, or 65 cents a share, on the period — up from $213.9 million, or 52 cents, in the year ago period. Revenue came in at $1.46 billion, a gain of 16 percent.
UnionBanCal Corp. (UB) reported second-quarter net income of $165.4 million, or $1.19 a share, down 9.6 percent from $182.9 million, or $1.26 a share, in the year-ago period. Net interest income was $431.1 million in second quarter of 2007, down 8.1 percent from $469 million in the same quarter a year ago, while total revenue fell 4 percent to $661 million from $688.2 million. UnionBanCal forecast third-quarter earnings of $1.12 to $1.17 a share, and 2007 earnings of $4.50 to $4.60 a share.
Xilinx Inc. (XLNX) reported first-quarter net earnings of $84.3 million, or 28 cents a share, up 2.2 percent from $82.5 million, or 24 cents a share, during the year-ago period. The San Jose, Calif.-based company said that revenue for the three months ended June 30 fell 7.4 percent to $445.9 million from $481.4 million in the comparable period last year. Xilinx, a designer of logic chips, expects fiscal second-quarter revenue to be flat to down slightly sequentially.
Zions Bancorp.'s (ZION) second-quarter net income rose 10 percent to $159.2 million, or $1.43 a share, from $145.3 million, or $1.35 a share, a year earlier. The Salt Lake City bank holding company's net interest income increased 8 percent to $469.3 million from $436.3 million in the year-ago period.