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Stocks to Watch, April 24: Amazon, Amgen and Texas Instruments

By MarketWatch
Published | Updated

Among the companies whose shares are expected to see active trading in Tuesday's session are Amazon.com Inc., Amgen Inc., and BP Plc.

Amazon.com (AMZN) is expected to report first-quarter earnings of 15 cents a share, according to a survey of analysts by Thomson First Call.

AT&T Inc. (T) is expected to post earnings of 61 cents a share for the first quarter.

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BP (BP) is expected to report first-quarter earnings of $1.31 a share.

Coach Inc. (COH) is expected to post earnings of 38 cents a share for the third quarter.

DuPont (DD) is expected to report first-quarter earnings of $1.03 a share.

JetBlue Airways Corp. (JBLU) is expected to post a loss of 19 cents a share for the first quarter.

Lockheed Martin Corp. (LMT) is expected to report first-quarter earnings of $1.37 a share.

McGraw Hill Cos. (MHP) is expected to post earnings of 31 cents a share for the fist quarter.

Northrop Grumman Corp. (NOC) is expected to report first-quarter earnings of $1.14 a share.

Sun Microsystems Inc. (SUNW) is expected to post earnings of a penny a share for the third quarter.

After Monday's closing bell, Amgen (AMGN) said its profit rose 11 percent in the first quarter, but the biotechnology bellwether said it's reviewing its full-year sales projections and now expects 2007 earnings-per-share to come in at the low end of its prior forecast range.

Texas Instruments Inc. (TXN) said its quarterly profit slipped nearly 12 percent from a year ago after it sold a business unit and faced weaker demand for its chips used in mobile phones and other electronic gear.

Boston Scientific Corp. (BSX) reported dramatically lower fourth-quarter earnings late Monday, due largely to charges related to its takeover of Guidant Corp., which resulted in an almost doubling of its stock float.

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Advanced Micro Devices Inc. (AMD) said it plans to offer $1.8 billion of convertible senior notes in a private offering to qualified institutional buyers.

Specialty chemicals maker Albemarle Corp. (ALB) reported first-quarter net income of $58.1 million, or 60 cents a share, up from $34.4 million, or 36 cents, a year ago. Revenue for the three months ended March 31 fell 3 percent, however, to $589.2 million from $607.4 million.

Altera Corp.'s (ALTR) first-quarter earnings grew nearly 28 percent to $75.1 million, or 21 cents a share, from a year-earlier profit of $58.7 million, or 16 cents a share. The San Jose semiconductor company's sales increased 4.1 percent to $304.9 million, from $292.8 million.

Ambassadors Group Inc. (EPAX) reported a first-quarter net loss of $4.98 million, or 25 cents a share, compared with a net loss of $3.45 million, or 17 cents a share, in the year-ago period. Revenue at the Spokane, Wash.-based provider of educational travel services rose to $7.82 million from $5.41 million in the comparable period last year.

Brown & Brown Inc. (BRO) reported first-quarter net earnings of $59.7 million, or 42 cents a share, up 19 percent from $50 million, or 36 cents a share, in the year-ago period. The Daytona Beach, Fla.-based insurance company said revenue in the three months ended March 31 rose 12 percent to $258.5 million from $230.6 million in the comparable period last year.

Cardinal Health Inc. (CAH) said it has established a $600 million reserve associated with the possible resolution of a pending class-action securities lawsuit. The suit is related to Cardinal's financial reporting and disclosures between fiscal 2000 and 2004. The Dublin, Ohio-based company said the reserve represents its current estimate to reach a mediated settlement. As a result, Cardinal said it take after-tax charge of $384 million in the third quarter.

Chubb Corp. (CB) said that first-quarter net income came in at $710 million, or $1.71 a share, up 6 percent from a year earlier when the property and casualty insurer made $672 million, or $1.58 a share. Operating earnings, which exclude net realized investment gains and losses, were $634 million, or a record $1.53 a share, the company added. Net written premiums for the first quarter declined 2 percent to $2.9 billion and the combined ratio, a closely watched measure of underwriting profitability, was 83.4 percent, Chubb said.

Crane Co. (CR) reported first-quarter net earnings of $43.6 million, or 71 cents a share, up 17 percent from $37.4 million, or 61 cents a share, during the year-ago period. The Stamford, Conn.-based manufacturer of engineered industrial products posted revenue of $628.2 million vs. $549.4 million.

Equifax Inc.'s (EFX) first-quarter net income rose 9.7 percent to $69 million, or 54 cents a share, from $62.9 million, or 48 cents a share, a year earlier, boosted by a 14 percent gain in revenue at the international division. The Atlanta transaction-processor and information management company said operating revenue rose 8.3 percent to $405.1 million from $374 million a year earlier.

Everest Re Group (RE) said that first-quarter net income came in at $297.6 million, or $4.59 a share, up 77 percent from a year earlier, when the Bermuda-based reinsurer made $168.4 million, or $2.57 a share. Operating income, which excludes realized capital gains and losses, was $267.9 million, or $4.13 a share, the company reported.

Express Scripts Inc. (ESRX) reported a 28 percent rise in first-quarter profit, boosted by higher sales of generic drugs, and lifted its forecast for the full-year period.

Forward Air Corp. (FWRD) reported first-quarter net earnings of $10.3 million, or 34 cents a share, down 6.5 percent from $11 million, or 35 cents a share, in the year-ago period. The Greeneville, Tenn.-based transportation and logistics company said revenue in the three months ended March 31 rose 6.1 percent to $87.4 million from $82.3 million in the comparable period last year. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 36 cents on revenue of $87 million.

Globecomm Systems Inc. (GCOM) said it has agreed to acquire the GlobalSat division of Lyman Bros. Inc. for $18.4 million in cash. GlobalSat, a provider of satellite-based telecommunications services, has 70 employees and had revenue of $21 million in 2006. Hauppauge, N.Y.-based Globecomm said it will partially fund the deal through a $16 million acquisition term loan to be provided by Citibank N.A. The transaction is expected to close in Globecomm's fiscal fourth quarter ending June 30.

Golfsmith International Holdings Inc. (GOLF) said preliminary results indicate a deeper than expected first-quarter loss of 31 cents to 32 cents a share, compared with the previous estimate of 20 cents to 22 cents a share. The Austin, Texas, specialty retailer of golf and tennis equipment, apparel and accessories said the loss was impacted by higher than anticipated selling, general and administrative expenses and gross margin pressure. Golfsmith also estimates revenue of about $77.6 million, in line with its previous estimate of $77 million to $79 million.

Grant Prideco Inc.'s (GRP) first-quarter net income rose 42 percent to $131.5 million, or $1.01 a share, from $92.4 million, or 69 cents a share, in the year-ago period as revenue rose 20 percent. The Houston drill stem technology company's revenue jumped to $496.5 million from $414.4 million in the year-ago period.

IRobot Corp. (IRBT) and Boeing Co. (BA) signed a pact to develop and deliver a small unmanned ground vehicle, or SUGV, to military, civil and commercial users. Financial terms of the agreement weren't disclosed. The Burlington, Mass., maker of behavior-based robots iRobot and Boeing, a Chicago-based maker of aircraft, defense and space products, said the robot will enable users to remotely conduct reconnaissance and secure real-time intelligence.

JDA Software Group Inc.'s (JDAS) first-quarter net income rose sharply to $5.42 million, or 16 cents a share, from $487,000, or 2 cents a share, a year earlier. Excluding items, the Scottsdale, Ariz., supply-management software company earned 28 cents a share for the quarter, up from 7 cents a share a year earlier. Revenue rose 89 percent to $90.7 million from $47.9 million a year earlier.

Juniper Networks Inc. (JNPR) reported first-quarter net earnings of $66.6 million, or 11 cents a share, down 12 percent from $75.8 million, or 13 cents a share, during the year-ago period. The Sunnyvale, Calif.-based network-equipment maker posted total revenue of $626.9 million vs. $566.7 million. Pro forma earnings were $112.4 million or 19 cents a share, compared with $113.4 million, 19 cents a share, last year.

Lincare Holdings Inc. (LNCR) reported first-quarter net earnings of $53.9 million, or 59 cents a share, up 13 percent from $47.9 million, or 48 cents a share, in the year-ago period. The Clearwater, Fla.-based provider of home oxygen equipment said revenue in the three months ended March 31 rose to $378.5 million from $333.6 million in the comparable period last year. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 58 cents on revenue of $383 million. Lincare also said it added 12 new operating centers, bringing the total number of its locations to 990 at the end of the first quarter.

Mindspeed Technologies Inc. (MSPD) said its fiscal second-quarter loss widened to $7.62 million, or 7 cents a share, from $7.11 million, or 7 cents a share, a year earlier. The Newport Beach, Calif., supplier of semiconductor services said revenue for the quarter ended March 31 fell 11 percent to $30.8 million from $34.6 million a year ago.

Pactiv Corp. (PTV) , a packaging maker, said net income in the first quarter rose to $57 million, or 43 cents a share, from $51 million, or 35 cents a share, in the year-ago period. Sales fell less than 1 percent to $677 million from $680 million, hurt by a decline in soft foam used in home construction. The maker of Hefty bags forecast second-quarter profit of 45 cents to 49 cents a share.

PartnerRe Ltd.'s (PRE) first-quarter net income fell 12 percent to $169.3 million, or $2.76 a share, from $193.2 million, or $3.21 a share, a year earlier. Analysts' estimates usually exclude items. The Pembroke, Bermuda, reinsurance company's total revenue fell slightly to $962.3 million from $995.6 million a year earlier.

Plum Creek Timber Co.'s (PCL) first-quarter net income fell 52 percent to $45 million, or 25 cents a share, from $94 million, or 51 cents a share, a year earlier. The Seattle-based lumber company said revenue decreased 11 percent to $369 million from $414 million a year ago.

Reinsurance Group of America (RGA) said that first-quarter net income came in at $76.3 million, or $1.19 a share, up 10 percent from a year earlier, when the life reinsurer made $69.1 million, or $1.10 a share. Operating earnings, which exclude net realized investment gains and losses, came in at $82.1 million, or $1.28 a share, the company added.

ResMed Inc. (RMD) swung to a fiscal third-quarter loss of $15.4 million, or 20 cents a share, from a profit of $26.4 million, or 34 cents a share, a year earlier. The San Diego manufacturer of medical equipment said results from the latest quarter include a voluntary-product-recall expense of $59.7 million.

Target Corp. (TGT) said that April sales will be "much weaker" than originally forecast, sending shares lower in after-hours trading.

Ultra Clean Holdings Inc. (UCTT) said that first-quarter net income more than doubled to $5.2 million, or 24 cents a share, from $2.1 million, or 12 cents a share, a year earlier as revenue rose 94 percent. The Menlo Park, Calif., semiconductor subsystems supplier's revenue jumped to $110.8 million from $57.2 million.

Volterra Semiconductor Corp.'s (VLTR) first-quarter net income fell 30 percent to $361,000, or 1 cent a share, from $517,000, or 2 cents a share, a year earlier. Excluding stock-based compensation, the company recorded adjusted per-share earnings of 7 cents. The Fremont, Calif., computer chip company's revenue grew 12 percent to $17.6 million from $15.7 million.

W.R. Berkley Corp. (BER) reported first-quarter net earnings of $188.4 million, or 93 cents a share, up 17 percent from $161.7 million, or 80 cents a share, in the year-ago period. Operating income, which excludes net realized investment gains and losses, rose to $183.6 million, or 91 cents a share, from $159.9 million, or 79 cents a share, in the year-ago period. The Greenwich, Conn.-based insurance company said total revenue rose 3.9 percent to $1.36 billion from $1.31 billion in the comparable period last year, while net written premiums slipped to $1.25 billion from $1.28 billion.

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