SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Tuesday's session are Lennar Corp., Target Corp. and Lowe's Cos.
FactSet Research Systems Inc. (FDS) is expected to report earnings of 56 cents a share for its fiscal fourth quarter, according to a Thomson Financial poll of analysts.
H.B. Fuller Co. (FUL) is forecast to report earnings of 45 cents a share for its fiscal third quarter.
Lennar Corp. (LEN) is expected to post a loss of 55 cents a share for its fiscal third quarter.
Marcus Corp. (MCS) is forecast to post per-share earnings of 45 cents for its fiscal first quarter.
Analysts expect Red Hat Inc. (RHT) to report a fiscal second-quarter profit of 17 cents a share.
Resources Connection Inc. (RECN) is expected to report earnings of 28 cents a share for its fiscal first quarter.
Worthington Industries Inc. (WOR) is foreseen posting a fiscal first-quarter profit of 22 cents a share.
After Monday's closing bell, retailer Target (TGT) cut its forecast for September sales at stores open more than a year, citing weaker-than-expected traffic as reason for the reduction.
Apple Inc. (AAPL) said that many of the unauthorized, unlocking programs circulating on the Internet are causing irreparable damage to iPhone software. Such damage can result in the phone becoming "permanently inoperable" when the company issues future software upgrades to the device, said Apple. The next software upgrade is expected later this week. Users who download the unlocking software to the iPhone void their warranty, the company added.
Bakers Footwear Group Inc. (BKRS) plans to cut its staff, reduce marketing expenses, and make other cost-cutting changes in an effort to save about $8 million in the fiscal year ending January 2008. The retailer expects one-time charges of about $4 million to $8 million in the third quarter on severance and store impairment costs and asset write-offs. Bakers expects the changes will begin to add to earnings in the fourth quarter.
Genesco Inc. (GCO) will reconvene a special shareholder meeting Oct. 4 to adopt a charter amendment that would allow the redemption of employees' subordinated convertible preferred stock following the completion of the merger between the company and a unit of Finish Line Inc. (FINL) . The shoe retailer's meeting was originally convened last Monday. Genesco said the adoption of the charter amendment isn't a condition to the completion of the merger. Shareholders of record as of Aug. 6 are eligible to vote at the meeting.
Earlier Monday, Finish Line, replying to a suit filed by Genesco, accused Genesco of breaching the companies' deal by refusing to provide Finish Line with financial information and access to Genesco's officials.
Gilead Sciences Inc. (GILD) said an add-on treatment for resistant hypertension appears to have effectively decreased blood pressure in a recent Phase IIb study. The company tested the antihypertensive treatment, darusentan, in patients who didn't reach their blood pressure goals while taking full doses of three or more medications.
Kirby Corp. (KEX) expects earnings in the third quarter to exceed 60 cents a share, higher than the previous forecast of 53 cents to 58 cents a share issued by the Houston-based operator of barges and towing vessels. The company said basic operating fundamentals in its marine transportation segment remain "very favorable," and that demand is strong in all of its transportation markets.
Learning Tree International Inc. (LTRE) reported fiscal third-quarter net earnings of $3.7 million, or 22 cents a share, compared with restated net earnings of $478,000, or 3 cents a share, last year. Revenue came in at $42.7 million, up from restated revenue of $41.2 million a year ago.
Lowe's Cos. (LOW) said sales are trending below previous expectations because of drought in the mid-Atlantic, southeastern and western regions of the U.S. It expects fiscal full-year earnings at the low end of an earlier forecast of $1.97 to $2.01 a share.
Superconductor Technologies Inc. (SCON) , a wireless infrastructure provider, said it's planning a joint venture with China's Hunchun BaoLi Communication Co.
Synnex Corp.'s (SNX) fiscal third-quarter net income rose 4.5 percent to $14.4 million, or 44 cents a share, on growth in its core distribution operations. Excluding items, earnings for the most recent quarter were 46 cents a share. Revenue at the business process services company increased 11 percent to $1.76 billion. Analysts polled by Thomson Financial expected third-quarter earnings of 46 cents a share and revenue of $1.74 billion.
Synnex expects fourth-quarter earnings of 52 cents to 54 cents a share on revenue of $1.875 billion to $1.925 billion. Analysts expect a profit of 53 cents a share on revenue of $1.899 billion.