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Stocks to Watch, Aug. 30: Dell, Freddie Mac

By MarketWatch
Published | Updated

SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Thursday's session are Dell Inc., Freddie Mac, and Novell Inc.

Brown-Forman Corp. (BFB) is expected to report first-quarter earnings of 81 cents a share, according to a survey of analysts by Thomson Financial.

Del Monte Foods Co. (DLM) is expected to post earnings of a penny a share for the first quarter.

Dell (DELL) is expected to report second-quarter earnings of 30 cents a share.

Esterline Technologies Corp. (ESL) is expected to post earnings of 55 cents a share for the third quarter.

Freddie Mac (FRE) is expected to report second-quarter earnings of $1.16 a share.

Genesco Inc. (GCO) is expected to post earnings of 31 cents a share for the second quarter.

H&R Block Inc. (HRB) is expected to report a first-quarter loss of 36 cents a share.

Jamba Inc. (JMBA) is expected to post earning of a penny a share for the second quarter.

Open Text Corp. (OTEX) is expected to report fourth-quarter earnings of 40 cents a share.

Zale Corp. (ZLC) is expected to post a loss of 13 cents a share for the fourth quarter.

After Wednesday's closing bell, Novell (NOVL) said its net loss in the third quarter narrowed compared to the same period a year earlier amid an increase in sales.

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Chico's FAS Inc. (CHS) reported second-quarter net earnings of $38.7 million, or 22 cents a share, down 28 percent from $53.8 million, or 30 cents a share, during the year-ago period. Earnings from continuing operations were $39 million, or 22 cents a share, compared with $54 million, or 31 cents a share, last year. The Fort Myers, Fla.-based apparel retailer said revenue rose to $436 million from $403.4 million. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 26 cents on revenue of $448 million. Same-store sales for the quarter were down 5.6 percent, the company said. Additionally, Chico's said it's focused on improving its comparable store sales and profitability, and plans to slow down its store square-footage growth rate to 12 percent to 15 percent for 2008, and in the range of 10 percent for 2009. The company also said it expects third-quarter per-share earnings to reflect a decrease versus the year-ago period.

Citi Trends Inc. (CTRN) reported second-quarter net earnings of $627,000, or 4 cents a share, down 51 percent from $1.28 million, or 9 cents a share, in the year-ago period. The Savannah, Ga.-based apparel retailer said revenue in the three months ended Aug. 4 rose 27 percent to $96.8 million from $76.3 million. Analysts polled by Thomson Financial were expecting, on average, per-share earnings of 5 cents on revenue of $96.8 million. Same-store sales increased 3.4 percent on a comparable store, comparable week basis, and rose 9.4 percent on a fiscal quarter basis. Each quarter of fiscal 2007 starts one week later than the same quarter of 2006, the company said. Citi Trends also cut its 2007 earnings forecast to a range of $1.40 to $1.44 a share.

Coldwater Creek Inc. (CWTR) reported second-quarter net earnings of $8.7 million, or 9 cents a share, down 27.6 percent from $12 million, or 13 cents a share, during the year-ago period. The Sandpoint, Idaho-based apparel retailer said revenue for the three months ended Aug. 4 rose 17 percent to $253.5 million from $216.4 million. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 12 cents on revenue of $266 million. Same-store sales decreased 6 percent for the second quarter, compared with a 13.3 percent increase in the prior-year period.

Collective Brands Inc.'s (PSS) second-quarter earnings fell to $24.9 million, or 38 cents a share, from $32.5 million, or 48 cents a share, a year earlier, hurt in part by expenses from the company's distribution center initiative. The Topeka, Kan., retailer's sales for the quarter ended Aug.4 fell 1 percent to $699.3 million from $706.1 million a year ago. In addition, Collective Brands said second-quarter same-store sales fell 1.4 percent. The company said it doesn't expect the Stride Ride acquisition to add to earnings in 2008 on a GAAP basis.

Delta Air Lines Inc. (DAL) said that Chief Operating Officer Jim Whitehurst has resigned, effective immediately.

Ensco International Inc. (ESV) said it now expects third-quarter revenue to be flat sequentially, as compared with its previous forecast for a 3 percent rise. Ensco said the lowered revenue outlook is primarily due to continuing softness in the Gulf of Mexico jackup market, resulting in lower utilization and day rates for the company's Gulf of Mexico jackup fleet. The Dallas-based contract drilling company also said it has approved a new $500 million share buyback program. Repurchases will be funded from Ensco's available cash.

Frontier Oil Corp. (FTO) said it has authorized an additional $100 million for the buyback of shares.

Gap Inc. (GPS) said Byron Pollitt, the chief financial officer, has decided to leave the company to pursue an opportunity in another industry. The California retailer said Pollitt's last day will be Sept. 14. The company also said Sabrina Simmons, currently senior vice president of corporate finance, is being promoted to the new position of executive vice president of Gap Inc. finance and will serve as acting chief financial officer.

Greif Inc. (GEF) reported third-quarter net earnings of $48.8 million, or 82 cents per Class A share, up 27 percent from $38.3 million, or 65 cents per Class A share, during the year-ago period. Excluding restructuring charges and other special items, the company posted earnings per Class A share of 90 cents versus 73 cents last year. The Delaware, Ohio-based industrial packaging company said revenue for the three months ended July 31 rose 27 percent to $874.2 million from $690.5 million. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 87 cents. The company reaffirmed its fiscal 2007 annual earnings forecast of $3.05 to $3.10 per Class A share, excluding special items.

Hain Celestial Group Inc.'s (HAIN) fiscal fourth-quarter net income rose to $12.3 million, or 30 cents a share, from $8.78 million, or 22 cents a share, a year earlier. The latest quarter included a gain of 3 cents a share from the reversal of a first-quarter charge related to valued-added taxes not charged to wholesale customers. The Melville, N.Y., food and personal care products company said sales for the quarter ended June 30 increased 14 percent to $222.3 million from $194.8 million. On average, analysts polled by Thomson Financial expected earnings of 28 cents a share and revenue of $227 million. The analyst estimates exclude the gain. For fiscal 2008, Hain expects earnings of $1.38 to $1.42 a share and sales of $1.03 billion to $1.05 billion. Wall Street projects full-year earnings of $1.38 a share and revenue of $1.03 billion.

Handleman Co.'s (HDL) fiscal first-quarter net loss widened to $17.7 million, or 88 cents a share, from $5.94 million, or 30 cents a share, a year earlier, which the company attributed to overall weakness in the music industry and an income tax expense. The company had a $51,000 income tax expense in the period ended July 28, while it recorded a $16.5 million income tax benefit in the year-ago period. The Troy, Mich., compact disc and cassette company's revenue rose 14 percent to $274.2 million from $240.4 million in the year-ago period, boosted by revenue from Tesco and ASDA greeting cards.

Heico Corp. (HEI) (HEIA) reported third-quarter net earnings of $10.9 million, or 40 cents a share, up 32 percent from $8.28 million, or 31 cents a share, during the year-ago period. The Hollywood, Fla.-based maker of components and parts for the aerospace and electronics industries said revenue for the three months ended July 31 rose 33 percent to $133.2 million from $102.2 million. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 37 cents on revenue of $121 million. Heico raised its fiscal 2007 earnings target to a range of $1.40 to $1.43 a share and its revenue target to a range of $490 million to $493 million. Analysts are looking for a per-share profit of $1.41 on revenue of $482 million.

Sigma Designs Inc.'s (SIGM) fiscal second-quarter net income soared to $8.59 million, or 32 cents a share, from $216,000, or a penny a share, a year earlier on a boost in system-on-chip sales. Excluding items, earnings were $13 million, or 48 cents a share. The Milpitas, Calif., media process maker's revenue for the quarter ended Aug. 4 more than doubled to $42.5 million from $20.1 million a year ago. Analysts polled by Thomson Financial predicted second-quarter revenue of $38.9 million.

TiVo Inc. (TIVO) reported a second-quarter net loss of $17.7 million, or 18 cents a share, compared with a net loss of $6.45 million, or 7 cents a share, during the year-ago period. The adjusted loss before interest, taxes, depreciation and amortization was $11.2 million, including an inventory-related charge. The Alviso, Calif.-based digital video recorder company said revenue for the three months ended July 31 rose to $62.6 million from $59.3 million. Analysts polled by Thomson Financial had forecast, on average, a per-share loss of 5 cents on revenue of $58 million. TiVo-owned subscription gross additions for the quarter were 41,000, compared with 74,000 gross additions a year ago, the company said. Additionally, TiVo said it expects a third-quarter net loss of $14 million to $17 million, and an adjusted loss before interest, taxes, depreciation and amortization of $5 million to $8 million. The company also forecast service and technology revenue of $56 million to $57 million for the quarter.