SAN FRANCISCO – Among the companies whose shares are likely to see active trading during Wednesday's session are Costco Wholesale Corp., Ruby Tuesday, and Chevron Corp.
Costco Wholesale Corp. (COST) is expected by analysts surveyed by Thomson Financial to report earnings of 83 cents a share for its fiscal fourth-quarter.
Infosys Technologies Ltd. (INFY) is expected to post net earnings of 46 cents a share its fiscal second quarter.
Lam Research Corp. (LRCX) is forecast to post earnings of $1.26 a share for its fiscal second quarter.
After Tuesday's closing bell, Alcoa Inc. (AA) said third-quarter net income rose 3 percent to $555 million, or 63 cents a share, on lower sales of $7.6 billion. Earnings excluding discontinued operations rose to 64 cents, a penny shy of Wall Street's estimate.
The aluminum giant in its report which marked the unofficial start of the third-quarter earnings season - also said it has increased its share buyback plan to up to 25 percent of its outstanding shares.
99 Cents Only Stores (NDN) expects to report a fiscal second-quarter net loss because of short-term operating margin and execution issues. Analysts currently expect earnings of 2 cents a share on revenue of $286 million.
CardioDynamics International Corp. (CDIC) swung to a third-quarter net loss of $853 million, or 2 cents a share. Last year, it earned $665 million, or 1 cent a share. Sales rose to $5.6 million, from $5.2 million last year.
Chevron Corp. (CVX) warned that third-quarter earnings will come in significantly below its record of $5.4 billion in the second quarter because of weaker margins for refined products. See full story.
ConAgra Foods Inc. (CAG) advised consumers not to eat certain products after several cases of salmonella were reported in various states. The warning includes Banquet brand turkey and chicken pot pies. The company said it's looking into the concerns with the U.S. Department of Agriculture.
International Paper Co. (IP) warned that disappointing land sales will push third-quarter profit below Wall Street's target.
Oracle Corp. (ORCL) has agreed to acquire LogicalApps, a provider of automated governance, risk and compliance controls management software. Financial terms weren't disclosed. Oracle expects to close the deal for the Irvine, Calif.-based company in November.
A revised acquisition proposal for SLM Corp. (SLM) , better known as Sallie Mae, expired without discussion of the deal, said the investment group that made the offer. The group also called a lawsuit that seeks to force it to pay a $900 million breakup fee "meritless."
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