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Stocks to Watch, April 5: Monsanto, Bed Bath & Beyond and Maxtor

By MarketWatch
Published | Updated

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are Monsanto Co., Bed Bath & Beyond Inc., Maxtor Corp. and St. Jude Medical Inc.

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A Schulman (SHLM) is expected to report fiscal second-quarter 27 cents a share, according to analysts polled by Thomson First Call.

Acuity Brands Inc. (AYI) is seen posting a fiscal second-quarter profit of 36 cents a share.

Apogee Enterprises Inc.'s (APOG) fourth-quarter per-share profit is expected to be 19 cents.

Bed Bath & Beyond Inc. (BBBY) is expected to post fourth-quarter earnings of 65 cents a share.

Christopher & Banks' (CBK) fourth-quarter results are expected to show earnings of 17 cents a share.

Monsanto Co. (MON) is seen posting a fiscal second-quarter per-share profit of $1.52.

WD-40 Co. (WDFC) is expected to report a profit of 31 cents a share in its fiscal second-quarter.

After Tuesday's closing bell, Maxtor Corp. (MXO) issued a lower first-quarter financial forecast and said it would shed 900 jobs, citing the hard disk-drive maker's pending acquisition by Seagate Technology. See full story.See After Hours column.

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Bob Evans Farms Inc. (BOBE) said March same-store sales at Bob Evans Restaurants decreased 0.5% from the same period in the prior year.

Ciena Corp. (CIEN) said it has priced $300 million of convertible senior notes due 2013. The networking company said the offering's underwriter has been granted an option to purchase up to an additional $45 million of notes.

DaimlerChrysler (DCX) said it has agreed to sell 7.5% of its 30% stake, valued at about 2 billion euros, in the European Aeronautic Defence and Space Company. The sale will allow DaimlerChrysler to focus more on its core automotive business, the German-American car giant said. The company said net income in 2006 will not be affected as the deal, under a forward sales agreement, is intended to take place between January and April 2007.

Exfo Electro-Optical Engineering Inc. (EXFO) reported fiscal second-quarter net earnings of $1.37 million, or 2 cents a share, vs. $9,000, or breakeven on a per-share basis, in the year-ago period. Revenue at the Quebec City-based provider of test and measurement solutions for the telecommunications industry rose to $30.1 million from $23.1 million. Analysts polled by Thomson First Call had forecast revenue of $29 million.

Great Atlantic & Pacific Tea Co. (GAP) declared a special cash dividend of $7.25 a share payable April 25 to shareholders of record as of April 17. The dividend payout will total $300 million and will be funded primarily by available cash resulting from the Montvale, N.J.-based supermarket chain's 2005 restructuring.

Luxottica Group (LUX) said first-quarter consolidated sales were up 20% from the same period in the prior year. The eyewear company added that wholesale sales to third parties were up 30%.

Mercury Computer Systems Inc. (MRCY) said it expects third-quarter revenue of $43 million to $44 million, down from its previous forecast of $55 million to $58 million. Analysts polled by Thomson First Call are currently looking for revenue of $55 million for the period. The Chelmsford, Mass.-based company said the revenue shortfall can mostly be attributed to its defense business, where technical problems associated with third-party products occurred, and a system failed acceptance testing of newly introduced functionality.

Morgan Stanley (MS) shareholders backed a proposal that requires the investment bank to get stockholder approval for so-called golden-parachute pay packages for departing executives, according to a regulatory filing. See full story.

Novell Inc. (NOVL) said its board approved a doubling of its share-buyback plan, allowing it to repurchase up to $400 million worth of its own stock through April 3 of next year. See full story.

PMC-Sierra Inc. (PMCS) said it will pay $300 million in stock to acquire Passave Inc., a privately-held maker of chips, bolstering its product line used to power high-speed Internet gear. See full story.

St. Jude Medical Inc. (STJ) said it expects first-quarter earnings of 35 cents to 36 cents a share and lowered its revenue outlook to $784 million from its earlier forecast of $799 million to $839 million. Analysts polled by Thomson First Call are forecasting earnings of 39 cents a share on revenue of $828 million.