Among the companies whose shares are expected to see active trading in Thursday's session are Autodesk Inc., Hewlett-Packard Co., and Amgen Inc.

Autodesk (ADSK) is expected to report second-quarter earnings of 43 cents a share, according to a survey of analysts by Thomson Financial.

BEA Systems Inc. (BEAS) is expected to post earnings of 13 cents a share for the third quarter.

Estee Lauder Cos. (EL) is expected to report fourth-quarter earnings of 50 cents a share.

Fannie Mae (FNM) is expected to post earnings of $1.51 a share for the first quarter.

Flowers Foods Inc. (FLO) is expected to report second-quarter earnings of 23 cents a share.

Hewlett-Packard Co. (HPQ) is expected to post earnings of 66 cents a share for the third quarter.

J.C. Penney Co. (JCP) is expected to report second-quarter earnings of 77 cents a share.

Kohl's Corp. (KSS) is expected to post earnings of 83 cents a share for the second quarter.

Nordstrom Inc. (JWN) is expected to report second-quarter earnings of 69 cents a share.

Watson Wyatt Worldwide Inc. (WW) is expected to post earnings of 67 cents a share for the fourth quarter.

After Wednesday's closing bell, biotechnology giant Amgen (AMGN) said it will eliminate up to 14 percent of its workforce in an effort to reduce costs, in response to a weakening market for its top-selling anemia-fighting drugs Aranesp and Epogen.

Also, Network Appliance Inc. (NTAP) saw earnings slide 37 percent in the July quarter, though the final results came in slightly better than the company's recently lowered expectations.

And, Salesforce.com Inc. (CRM) said it swung to a profit in its fiscal second quarter, thanks to strong sales and a rapidly growing number of subscribers. The company also said it is raising its profit and sales outlook for the full fiscal year.

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CACI International Inc. (CAI) said fourth-quarter earnings fell 5.7 percent to $20.8 million, or 67 cents a share, from $22.1 million, or 71 cents a share, a year earlier.

Compuware Corp. (CPWR) said it won't take on debt to fund additional stock buybacks due to current unfavorable conditions in the credit markets. The Detroit-based software company said it will continue to repurchase shares as market conditions allow under its remaining discretionary authorization, but will discontinue its 10b5-1 stock buyback plan this week.

Delta Galil Industries Ltd. (DELT) said it swung to a second-quarter net loss of $3.44 million, or 18 cents a share, from a year-ago net profit of $487,000, or 3 cents a share. Revenue in the period ended June 30 fell 15 percent to $149.8 million from $176.5 million, said the Israel-based apparel company.

DynCorp International Inc. (DCP) said the Army Corps of Engineers, Transatlantic Command, has awarded it one of five contracts for general construction in Afghanistan. The contract covers one base year and two option years and has a potential value of $1.8 billion for all awardees over the contract's lifetime, not to exceed $600 million per year, the Falls Church, Va.-based defense company said.

Standard & Poor's Ratings Services lowered its corporate credit and senior unsecured debt ratings on Hovnanian Enterprises Inc. (HOV) to BB- from BB. The agency also cut the Red Bank, N.J.-based home builder's senior subordinated debt rating to B from B+, and the preferred stock rating to B- from B. The outlook remains negative. "The rating actions reflect our expectation that the further weakening of the housing market in recent months, continued pressure due to credit tightening, the concessionary environment, and inventory overhang, and the likelihood for a protracted recovery will strain Hovnanian's profitability and interest coverage beyond previous expectations and for a longer duration," said S&P credit analyst George Skoufis in a statement.

Jones Lang LaSalle Inc. (JLL) said it has approved the buyback of up to 2 million of its common stock. This is in addition to the 208,000 shares that remain authorized to be repurchased under a program that was established in September 2005, the Chicago-based real estate money management and services firm said.

Longs Drug Stores Corp.'s (LDG) said second-quarter net income rose 40 percent to $26.6 million, or 69 cents a share, from $19 million, or 50 cents a share, a year earlier on its retail and pharmacy benefit services segments.

Micronetics Wireless Inc. (NOIZ) reported fiscal first-quarter net earnings of $185,000, or 4 cents a share, down 66 percent from $548,000, or 11 cents a share, in the year-ago period. The Hudson, N.H.-based maker of microwave and radio frequency components said revenue in the quarter ended June 30 fell 7 percent to $6.31 million from $6.81 million.

PetSmart Inc. (PETM) reported second-quarter net earnings of $47.1 million, or 35 cents a share, up 36 percent from $34.6 million, or 25 cents a share, during the year-earlier period. Excluding certain items, the company earned 36 cents a share in the most recent quarter, which ended July 29. The company said its earnings per share exceeded expectations due to a benefit related to the renegotiation of a contract with MMI Holdings Inc., and favorable results in insurance expense. The Phoenix-based provider of pet products said revenue in the quarter rose to $1.12 billion from $1.02 billion, as same-store sales rose 4 percent.

Photronics Inc. (PLAB) reported third-quarter net earnings of $2.24 million, or 5 cents a share, down from $4.56 million, or 11 cents a share, during the year-earlier period. The Brookfield, Conn.-based manufacturer of photomasks said revenue fell to $104.3 million from $108.2 million. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 4 cents on revenue of $103 million. Photronics said revenues were impacted by continued softness in the demand for flat-panel display masks and a shortfall in expected design releases from European semiconductor photomask customers.

Take-Two Interactive Software (TTWO) received a "Wells" call from the staff of the Securities and Exchange Commission in connection with the investigation into the company's historical stock option grants. According to a company regulatory filing, staff members informed Take-Two that they plan to seek authority from the SEC to file charges in connection with its investigation, and to also seek a civil monetary penalty. Take-Two said it still expect to resolve the investigation by means of a settlement rather than litigation, and said it believes that the Wells call represents a "significant step forward towards that resolution."

Transmeta Corp. (TMTA) said it has approved a 1-for-20 reverse split of its common shares. The Santa Clara, Calif.-based developer of microprocessor technology said its shares will begin trading on a reverse split basis on Friday under the symbol "TMTAD," for 20 trading days. The split will reduce the number of outstanding shares to about 10 million shares from 200 million shares, the company noted.