SAN FRANCISCO – Among the companies whose shares are likely to see active trading during Tuesday's session are Alcoa Inc. and Sprint Nextel Corp.
Alcoa Inc. (AA) is expected by analysts surveyed by Thomson Financial to report 65 cents a share for third-quarter earnings.
Oxford Industries Inc. (OXM) is expected to post net earnings of 46 cents a share in the third quarter.
California Pizza Kitchen Inc. (CPKI) is forecast to report net earnings of 22 cents a share in the third quarter.
Mosaic Co. (MOS) is forecast to post 58 cents a share for fiscal first-quarter earnings.
After Monday's closing bell, Sprint Nextel Corp. (S) said that Chief Executive Gary Forsee is stepping down, effective immediately. Forsee, who has also served as chairman and president, has come under fire as the company's subscriber growth and share price have disappointed investors. Sprint also said it now expects to report a net loss of 337,000 post-paid subscribers in the third quarter.
Expeditors International of Washington Inc. (EXPD) will replace TXU Corp. (TXU) in the S&P 500 index after the close of trading on Tuesday. TXU is being acquired by a group of investors led by Kohlberg Kravis Roberts & Co. and Texas Pacific Group.
Gateway Inc. (GTW) said that it will buy all of the shares of PB Holding Co. from Lap Shun Hui and Clifford Holdings Ltd. Hui owns a 75 percent interest in PB Holding, the parent company of Packard Bell BV. Acer Inc., which plans to merge with Gateway, has agreed to fund the acquisition, the company said. Financial terms weren't disclosed.
McAfee Inc. (MFE) agreed to buy SafeBoot BV, a privately held security software vendor, for $350 million. McAfee expects the deal to be dilutive to 2008 per-share earnings and neutral to 2008 pro forma per-share earnings.
Microchip Technology Inc. (MCHP) expects to report fiscal second-quarter net earnings of 35 cents a share, or 38 cents a share excluding the effect of share-based compensation. The maker of microcontrollers company forecast sales of $258 million to $259 million for the period ended Sept. 30, due to weaker-than-expected sales in the Americas and Asia.
Yum Brands (YUM) posted a 17 percent gain in third-quarter profit. The fast-food chain operator said its results were helped by strong growth outside the U.S., particularly in China. It also raised its forecast for the full year.
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