SAN FRANCISCO – Among the companies whose shares are seeing active trading in Tuesday's session are CBS Corp., General Motors Corp. and MetLife Inc.
Alcatel-Lucent (ALU) is expected to report second-quarter earnings of 3 cents per American Depositary Share.
Automatic Data Processing Inc. (ADP) is expected to post earnings of 36 cents a share for the fourth quarter.
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Avon Products Inc. (AVP) is expected to report second-quarter earnings of 42 cents a share.
CBS (CBS) is expected to post earnings of 51 cents a share for the second quarter.
Coach Inc. (COH) is expected to report fourth-quarter earnings of 41 cents a share.
General Motors (GM) is expected to post earnings of $1.13 a share for the second quarter.
IAC/Interactive Corp. (IACI) is expected to report second-quarter earnings of 33 cents a share.
Marathon Oil Corp. (MRO) is expected to post earnings of $2.12 a share for the second quarter.
MetLife (MET) is expected to report second-quarter earnings of $1.33 a share.
Safeco Corp. (SAF) is expected to post earnings of $1.53 a share for the second quarter.
Whole Foods Market Inc. (WFMI) is expected to report third-quarter earnings of 33 cents a share.
After Monday's closing bell, Sun Microsystems Inc. (SUNW) swung to a fiscal fourth-quarter profit from a year-ago loss as the enterprise computer server and software developer made large cuts in its operating expenses.
GlaxoSmithKline PLC's (GSK) diabetes drug Avandia should stay on the market with a strong warning about increased risks of heart disease, an expert panel recommended to the Food and Drug Administration.
Andrew Corp. (ANDW) swung to a fiscal third-quarter loss of $95.7 million, or 61 cents a share, from a year-earlier profit of $6.96 million, or 4 cents a share. Results included a noncash goodwill impairment for its Base Station Subsystems unit and restructuring charges totaling 72 cents a share. Excluding the charges, the company posted a profit of 11 cents a share. The Orland Park, Ill., telecommunications company said sales fell slightly to $545.8 million from $550.7 million.
Cache Inc.'s (CACH) July comparable-store sales increased 6 percent. The New York-based specialty women's retailer said total sales for the four weeks ended July 28 increased 3 percent to $16.5 million. The company also said its board approved a stock repurchase program in which it can buy back up to 1 million shares, or 6 percent of its outstanding common stock.
CB Richard Ellis Group Inc. (CBG) reported second-quarter net earnings of $ 141.1 million, or 59 cents a share, up from $64.3 million, or 27 cents a share, in the same period a year ago. Excluding one-time charges, earnings were 66 cents a share. The Los Angeles real estate services company said revenue for the three months ended June 30 rose to $1.49 billion from $903.5 million.
CommScope Inc. (CTV) said second-quarter net income rose to $61.1 million, or 83 cents a share, from $46.6 million, or 65 cents a share, a year earlier. The company said excluding items, year-ago earnings were 43 cents a share. The Hickory, N.C., infrastructure company said sales rose 26 percent to $519.1 million from $411.9 million a year ago. The company expects third-quarter revenue of $510 million to $530 million. For the year, the company expects revenue in the range of $1.9 billion to $1.94 billion, up from previous expectations of $1.84 billion to $1.89 billion.
CV Therapeutics Inc.'s (CVTX) second-quarter loss narrowed, boosted by a $7 million milestone payment, reimbursement for certain development costs, and a 28 percent increase in sales of its Ranexa drug. The Palo Alto, Calif., biopharmaceutical company had a second-quarter loss of $57.6 million, or 97 cents a share, compared with a loss of $73.1 million, or $1.59 a share, a year earlier. CV Therapeutics said revenue for the quarter more than tripled to $25.4 million from $6.85 million a year ago.
Hanger Orthopedic Group Inc. (HGR) swung to a second-quarter net profit of $5.09 million, or 17 cents a share, from a year-earlier net loss of $5.72 million, or 42 cents a share. The Bethesda, Md., orthotic and prosthetic patient care provider's net sales grew nearly 5 percent to $160.4 million, from $152.9 million a year earlier, while same-store sales increased 4 percent.
Hanover Insurance Group (THG) said that second-quarter net income came in at $59.8 million, or $1.14 a share, up 17 percent from a year earlier when the property and casualty insurer made $50.9 million, or 99 cents a share. Income from continuing operations was $59.5 million, or $1.14 a share. Net premiums written by Hanover's main property and casualty businesses climbed 3.6 percent to $619.9 million in the second quarter.
Limited Brands Inc.'s (LTD) Vice Chairman and Chief Operating Officer Len Schlesinger has decided to resign. The Columbus, Ohio, apparel retailer said Schlesinger's responsibilities will be assumed by Chief Executive Leslie H. Wexner and Martyn Redgrave, executive vice president and chief administrative officer.
Fertilizer and animal-feed maker the Mosaic Co. (MOS) said earnings for its fiscal fourth quarter rose to $202.6 million, or 46 cents a share, from a loss of $181 million, or 48 cents a share, in the year earlier quarter, which was dragged down by a restructuring charge. Sales rose 27 percent to $1.68 billion for the three months ended May 31.
Odyssey Healthcare Inc.'s (ODSY) second-quarter net income fell 37 percent to $4.18 million, or 12 cents a share, from $6.49 million, or 19 cents a share, a year earlier. The Dallas hospice care company said the earnings decline was on higher operating expenses and short-term losses related to its inpatient development and other initiatives. Earnings from continuing operations decreased to 13 cents a share from 20 cents a year ago, while net patient service revenue increased 2.5 percent to $104 million from $101.5 million a year earlier. Odyssey withdrew its previously issued 2007 earnings forecast, citing difficulty estimating the impact timing of various initiatives.
Optium Corp. (OPTM) forecast a net loss for its fiscal fourth-quarter and revenue of $26 million to $26.5 million. The company's net loss on a per-share basis has yet to be determined. The Horsham, Pa.-based supplier of optical subsystems said its per-share net loss will be driven in part by lower-than-expected revenue and shipments of higher margin products.
Postage-meter maker Pitney Bowes Inc. (PBI) said it swung to a second-quarter profit, driven by strength in its U.S. mailing segment.
Post Properties Inc.'s (PPS) second-quarter net income jumped to $62 million, or $1.40 a share, from $12.1 million, or 28 cents a share, a year earlier. Revenue for the Atlanta-based real estate investment trust rose 5 percent to $78.3 million in the most recent period from $74.3 million in the year-ago period.
Powerwave Technologies Inc. (PWAV) swung to a second-quarter loss of $44.5 million, or 34 cents a share, from a year-earlier profit of $12.6 million, or 10 cents a share. Results included restructuring and impairment charges of $11.2 million and $7.7 million of asset amortization. Excluding the charges, Powerwave's loss was 16 cents a share. The Santa Ana, Calif., radio-frequency amplifier company said sales declined 15 percent to $185.6 million from $219.6 million.
Principal Financial Group (PFG) said that second-quarter net income came in at $312.1 million, up 43 percent from a year earlier when the 401(k) specialist made $218.8 million. Net income available to common stockholders $303.8 million, or $1.12 a share, in the period, the company added. Principal also reported record operating earnings of $282.9 million, or $1.05 a share. The company was expected to make 97 cents a share, according to the average estimate of 15 analysts in a Thomson Financial survey.
Radyne Corp's (RADN) second-quarter net income declined 16 percent to $2.65 million, or 14 cents a share, from a year-earlier profit of $3.16 million, or 17 cents a share. The Phoenix-based data transmission equipment company's net sales declined to $34.3 million from $34.6 million. Radyne expects to complete its $18.5 million acquisition of AeroAstro Inc. within the next few days.
Republic Airways Holdings Inc. (RJET) reported second-quarter net earnings of $19 million, or 46 cents a share, down slightly from $20.3 million, or 47 cents a share, during the year-ago period. The Indianapolis-based carrier said revenue for the three months ended June 30 rose to $320.3 million from $284.3 million last year.
Spherion Corp.'s (SFN) second-quarter earnings fell 5.5 percent to $3.41 million from $3.61 million a year earlier on a loss from the sale of its outplacement consulting business. On a per-share basis, earnings were flat at 6 cents. Earnings from continuing operations rose 53 percent to $7.39 million, or 13 cents a share, from $4.82 million, or 8 cents a share, a year ago. Revenue grew 1.6 percent to $478.5 million from $470.8 million in the prior-year period.
Superior Energy Services Inc.'s (SPN) second-quarter net income grew 81 percent to $70.1 million, or 85 cents a share, from a year-earlier profit of $38.7 million, or 48 cents a share. The Harvey, La., oil field services company's revenue grew 52 percent to $396.8 million, from $261.8 million.
Texas Roadhouse Inc. (TXRH) said late Monday that second-quarter earnings grew to $9.26 million from $8.83 million, a year earlier, boosted in part by franchise royalties and fees.
UDR Inc.'s (UDR) second-quarter net income fell 79 percent to $6.7 million, or 1 cent a share, from $32.2 million, or 21 cents a share, a year earlier, as income from discontinued operations fell 69 percent. The Richmond, Va., real estate investment trust recorded per-share funds from operations of 45 cents, compared with 43 cents in the year-ago period.
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