SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Thursday's session are Campbell Soup Co., National Semiconductor Corp., and J. Crew Group Inc.
Campbell Soup (CPB) is expected to report fourth-quarter earnings of 18 cents a share, according to a survey of analysts by Thomson Financial.
Cascade Corp. (CAE) is expected to post earnings of $1.06 a share for the second quarter.
CDC Corp. (CHINA) is expected to report second-quarter earnings of 9 cents a share.
Cooper Cos. (COO) is expected to post earnings of 70 cents a share for the third quarter.
Fleetwood Enterprises Inc. (FLE) is expected to report a first-quarter loss of 10 cents a share.
Jackson Hewitt Tax Service Inc. (JTX) is expected to post a loss of 46 cents a share for the first quarter.
Movado Group Inc. (MOV) is expected to report second-quarter earnings of 42 cents a share.
National Semiconductor (NSM) is expected to post earnings of 25 cents a share for the first quarter.
SAIC Inc. (SAI) is expected to report second-quarter earnings of 21 cents a share.
UTI Worldwide Inc. (UTIW) is expected to post earnings of 27 cents a share for the second quarter.
ADC Telecommunications Inc.'s (ADCT) after Wednesday's closing bell reported that fiscal third-quarter earnings grew to $16.6 million, or 14 cents a share, from a year-earlier profit of $4.6 million, or 4 cents a share. Results include charges of 23 cents a share for restructuring and other items. The Minneapolis communications equipment maker's revenue grew to $346.1 million for the period ended Aug. 3, from $343.6 million a year earlier. Wall Street expected third-quarter earnings of 23 cents a share, on revenue of $328.1 million, according to the average estimate of analysts polled by Thomson Financial. The company forecast fiscal 2007 earnings of $1.11 to $1.15 a share, on revenue of $1.308 billion to $1.313 billion. Analysts expect fiscal 2007 earnings of 93 cents a share, on revenue of $1.29 billion.
Altera Corp. (ALTR) , in its mid-quarter update, stuck to its third-quarter revenue target. The chipmaker said revenue will be flat to up 3 percent from the three months ended June 29. This forecast puts Altera sales in the range of $319.7 million to $329.3 million. Separately, Altera said it secured a five-year $750 million unsecured credit facility. It plans to use $500 million of that credit line to fund repurchases of its common stock. San Jose, Calif.-based Altera designs chips that customers can program for specific purposes. The processors are used in a wide range of products such as Internet routers, mobile-phone base stations, flat-panel televisions and DVD players.
American Eagle Outfitters Inc.'s (AEO) August same-store sales grew 9 percent, compared with an increase of 16 percent a year ago. Analysts polled by Thomson Financial, on average, expected same-store sales growth of 6 percent. For the four weeks ended Sept. 1, total sales rose 13 percent to $311.3 million from $276.6 million in the prior-year period. The Warrendale, Pa., apparel company also reiterated its previous third-quarter earnings estimate of 47 cents to 48 cents a share.
Anadigics Inc. (ANAD) acquired Fairchild Semiconductor International Inc.'s (FCS) RF design team for $2.3 million. The acquisition included leases, software and licenses to intellectual property as well as the hiring of 23 RF design and engineering employees. Anadigics, Warren, N.J., expects customer demand will partially offset the higher research-and-development expense in the fourth quarter from the transaction. For fiscal 2008, Anadigics said its business model had planned comparable research-and-development expense and doesn't need to be adjusted for the acquisition.
Casella Waste Systems Inc. (CWST) swung to a fiscal first-quarter profit of $1.74 million, or 7 cents a share, from a loss of $53,000, or 4 cents a share, a year earlier. Results from the most recent period include a benefit of $1.3 million, or 5 cents a share, related to the settlement of the Maine Energy Recovery dispute. The Rutland, Vt., waste and recycling management company's revenue rose 8.3 percent to $152.4 million in the period ended July 31 from $140.8 million in the year-ago period. On average, analysts polled by Thomson Financial expected a per-share loss of 2 cents and revenue of $148 million. Analyst estimates usually exclude extraordinary items.
Casey's General Stores Inc.'s (CASY) fiscal first-quarter net income jumped 76 percent to $29.8 million, or 59 cents a share, from $16.9 million, or 33 cents a share, a year earlier. On average, analysts polled by Thomson Financial expected earnings of 45 cents a share. The Ankeny, Iowa, convenience store operator said revenue for the period ended July 31 rose 17 percent to $1.28 billion from $1.1 billion. Casey's said first-quarter same-store grocery sales increased 9.1 percent.
Fred's Inc. (FRED) said its August sales at stores open at least one year rose 1.7 percent. Analysts, on average, had expected the same-store sales to rise 1.8 percent, according to Thomson Financial. Total sales for the four weeks ended Sept. 1 rose 4 percent to $129 million from $124.2 million a year ago, the Memphis, Tenn.-based operator of discount general merchandise stores said.
Hot Topic Inc.'s (HOTT) August same-store sales, or sales at stores open at least a year, fell 1.1 percent. On average, analysts polled by Thomson Financial expected a 2.5 percent drop for the City of Industry, Calif., teen retailer. Net sales for the four weeks ended Sept. 1 fell 2.5 percent to $71.2 million.
J.C. Penney Co.'s (JCP) August same-store sales at its department stores, or sales at stores open at least a year, fell 4 percent from a year earlier, which the company attributed to an early back-to-school sales week that was counted in July's sales figures. The Plano, Texas, retailer said total company sales fell 1.1 percent to $1.56 billion. Direct sales rose 3.6 percent and Internet sales increased 24 percent. J.C. Penney reaffirmed its September and October sales guidance. The company expects low single-digit increases for both comparable department store and direct sales in September and mid-to-high single-digit comparable department store sales and low single-digit direct sales increases in October.
J. Crew Group's (JCG) fiscal second-quarter net income soared to $20.6 million from $20,000 a year ago. On a per-share basis, earnings swung to a profit of 32 cents from a loss of 8 cents a year ago, when the company incurred a stock dividend charge. On an adjusted basis, the company earned 21 cents a share for the most recent period. The New York-based apparel retailer's revenue for the quarter ended Aug. 4 increased 13 percent to $304.7 million from $269.2 million a year earlier. Analysts polled by Thomson Financial, on average, predicted second-quarter earnings of 29 cents a share and revenue of $308.5 million. J. Crew's same-store sales increased 4 percent, or 6 percent on an adjusted basis. J. Crew said it targets annual same-store sales growth in the mid single-digit range and earnings growth in excess of 20 percent, the company said.
Martek Biosciences Corp.'s (MATK) fiscal third-quarter earnings rose 33 percent to $6.13 million, or 19 cents a share, from $4.62 million, or 14 cents a share, a year earlier. The Columbia, Md., biotechnology company said revenue for the quarter ended July 31 increased 11 percent to $77.8 million from $70.4 million. On average, analysts polled by Thomson Financial expected earnings of 18 cents a share and revenue of $79 million. Martek expects fiscal fourth-quarter earnings of 20 cents to 21 cents a share and revenue in the range of $77 million to $80 million. For fiscal 2007, Martek projects earnings of 62 cents to 63 cents a share and revenue between $302 million to $305 million. Excluding a restructuring charge, Market expects fiscal 2007 earnings of 63 cents to 64 cents a share.
A former Morgan Stanley (MS) analyst and her husband pleaded guilty to charges of insider trading, prosecutors said.
Nabi Biopharmaceuticals (NABI) said that data from a nine-month, Phase IIb trial of its anti-smoking vaccine, NicVAX, show efficacy in supporting statistically significant and continuous abstinence rates by dose and by antibody response. The Boca Raton, Fla., biopharmaceutical company said the nine-month continuous abstinence rate among high antibody responders was 20 percent, compared with 6 percent for subjects given a placebo. Nabi determined that the most effective dose was 400 micrograms and the most effective schedule was five injections over six months. Shares of Nabi were at $3.50 in recent after-hours trading after closing the regular session at $3.42.
NBTY Inc.'s (NTY) August sales increased 8 percent to $165 million from $154 million a year ago. The Bohemia, N.Y., nutritional supplement maker said North American retail August same-store sales rose 10 percent. Total U.S. wholesale nutrition sales grew 12 percent to $81 million from $72 million. Total U.S. retail sales were up 6 percent to $20 million from $19 million, while total European retail sales rose 8 percent to $53 million from $49 million in the prior year.
Republic Airways Holdings (RJET) said it has agreed to purchase 2 million shares of its common stock from WexAir LLC, its former majority shareholder. The purchase price is $19.20 a share, or about $38.4 million, the Indianapolis-based carrier said. The transaction, which is authorized under a previously announced share buyback program, is expected settle on Friday, the company said.
Tibco Software Inc. (TIBX) said fiscal third-quarter results will be below expectations because of unexpected delays in completing business deals. The Palo Alto, Calif., business software company said preliminary results indicate earnings of 4 cents to 5 cents a share, excluding items, on revenue of $130 million to $133 million, for the period ended Sept. 2. Wall Street expected earnings of 7 cents a share, on revenue of $139.9 million, according to the average estimate of analysts polled by Thomson Financial. Competitive losses weren't a factor in results for the recent period, and the company expects some of the business that fell out of the quarter to return in subsequent quarters.
Zumiez Inc.'s (ZUMZ) August same-store sales rose 17.4 percent. The Everett, Wash., specialty retailer said total sales for the four weeks ended Sept. 1 increased 39.7 percent to $47 million from $33.7 million last year.