SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Thursday's session are Ford Motor Co., Consolidated Edison Inc. and Sunoco Inc.
Applied Micro Circuits Corp. (AMCC) is expected to report per-share income for the first quarter of 3 cents, according to analysts polled by Thomson First Call.
Career Education Corp. (CECO) is expected to post second-quarter earnings per share of 49 cents.
Chiquita Brands International Inc. (CQB) is expected to report per-share income for the second quarter of 36 cents.
CVS Corp. (CVS) is expected to post earnings per share for the second quarter of 37 cents.
DreamWorks Animation SKG Inc. (DWA) is expected to report second-quarter earnings per share of 2 cents.
Gateway Inc. (GTW) is expected to report per-share income for the second quarter of 2 cents.
MGM Mirage (MGM) is expected to post second-quarter per-share income of 53 cents.
Sprint Nextel Corp. (S) is expected to report earnings per share of 33 cents for the second quarter.
Swift Energy Co. (SFY) is expected to post per-share income of $1.13 for the second quarter.
Tyco International Ltd. (TYC) is expected to report earnings per share of 48 cents for the third quarter.
After Wednesday's closing bell, Con Ed (ED) said quarterly net profit rose to $124 million, or 50 cents a share, from $115 million, or 47 cents a share, during the same period in the prior year. The New York-based utility giant said quarterly revenue rose to $2.56 billion from $2.4 billion in the prior year. The company added that during a July heat wave, electric service to customers in Queens was interrupted, and Con Ed now sees 2006 earnings per-share of $2.75 to $3, compared with its prior outlook of $2.90 to $3.10.
Sunoco (SUN) said second-quarter net income rose as revenue increased and the results benefited from strong refining margins for ethanol-blended gasoline and low-sulfur diesel products. The Philadelphia-based gasoline retailer said quarterly net profit rose to $426 million, or $3.22 a share, from $242 million, or $1.75 a share, during the same period in the prior year. Analysts polled by Thomson First Call had expected a per-share result of $2.70. Sunoco said quarterly revenue rose to $10.59 billion from $7.99 billion in the prior year.
Ford (F) revised its second-quarter loss to $254 million, or 14 cents a share, twice the $123 million, or 7-cent, loss it reported July 20. Ford said the move reflects a wider estimated pension curtailment loss than first reported and "subsequent events" affecting its balance sheet. Further, the automaker said it now expects its Premier Automotive Group operating segment to be unprofitable in 2006. The company, which saw its July sales fall 34.2 percent from a year ago, earlier Wednesday said it had hired an outside mergers and acquisitions expert to review its operations.
Alltel Corp. () said second-quarter earnings rose 7 percent as the nation's fifth-largest wireless company added more customers and took measures to keep current subscribers more loyal. Revenue rose 18 percent to $2.67 billion from $2.26 billion, as the carrier added 146,000 net wireless customers to bring its total base to more than 11 million.
American Eagle Outfitters (AEOS) raised its second-quarter forecast after "favorable customer response" in July. The teen-wear retailer said that sales at stores open longer than a year climbed 7 percent. That's below the 8.6 percent average estimate reached by Wall Street.
Brooks Automation Inc. (BRKS) reported third-quarter net earnings of $17.2 million, or 23 cents a share, compared with $903,000, or 2 cents a share, in the same period last year. Brooks expects fourth-quarter per-share net earnings of 18 cents to 23 cents, on revenue of $200 to $210 million.
Conseco Inc. (CNO) reported a second-quarter net loss of $22.3 million, or 21 cents a share, after previously announced legal costs of $100.3 million. A year earlier, the company made $88.1 million, or 48 cents a share.
Constellation Brands Inc. (STZ) said it plans to invest in new distribution and bottling facilities in the United Kingdom and streamline its Hardy Wine Co. operations in Australia in an effort to reduce costs. The alcoholic-beverage producer said it expects the initiatives to reduce net operating expenses by $5 million in fiscal 2008, and by more than $15 million annually beginning in fiscal 2009.
Deutsche Boerse AG (581005) reported second-quarter earnings of 1.86 euros ($2.38) a share, compared with 1.02 euros a share during the year-ago period. Revenue for the German Stock Exchange operator rose 21 percent to 491.1 million euros from 405.5 million euros.
InfoSpace Inc. (INSP) said second-quarter net income fell as operating costs grew and the company recorded a $4.6 million expense for stock-based compensation. The mobile media concern said quarterly revenue rose to $95.8 million from $83.2 million in the prior year.
Levitt Corp. (LEV) said it swung to a second-quarter net loss as the company recorded $6 million of impairment charges associated with Tennessee operations. Levitt said quarterly revenue rose to $131.7 million from $108 million, while analysts had expected $146.3 million.
McClatchy Co. (MNI) said it has completed its divestiture plan with the closing of sales of 12 former Knight Ridder Inc. newspapers, and has received $2.08 billion from the sales.
Medtronic Inc. (MDT) posted preliminary revenue and per-share earnings for its fiscal first quarter below analysts' average expectations.
Merck & Co. (MRK) said a jury in Los Angeles rejected a California man's claim that the use of the company's drug Vioxx caused his heart attack.
Electrical equipment maker Molex Inc. (MOLX) , a costly restructuring effort mostly behind it, reported a 12-fold increase in its fourth-quarter profit and provided investors with a look at its fiscal 2007 earnings expectations.
Prudential Financial Inc. (PRU) reported a 44 percent drop in second-quarter net income as results from the insurance and annuity company came up short of analyst expectations.
Public Storage Inc. (PSA) said second-quarter net income rose to $128.9 million, or 55 cents a share, from $108.3 million, or 47 cents a share, during the same period in the prior year. Public Storage said quarterly revenue rose to $298 million from $262.8 million.
Ranbaxy Laboratories Ltd. (RBXLF) said it's evaluating its options after a federal appeals court issued a split ruling on patent infringement regarding Pfizer Inc.'s (PFE) Lipitor. The Indian pharmaceutical company said it now has the opportunity to bring the launch date for a generic version of the antidepressant forward to March 2010 from June 2011 with 180-day exclusivity in the U.S. market.
Six Flags Inc. (SIX) said it swung to a second-quarter loss as operational expenses grew, and the company recorded non-cash costs and other items. The New York-based theme park operator said the quarterly loss was $39.6 million. During the same period in the prior year, Six Flags reported quarterly net income of $11.1 million. Quarterly revenue fell to $356.1 million from $360.6 million in the prior year.
Smith & Wollensky Restaurant Group Inc. (SWRG) said July comparable restaurant sales rose 1.5 percent to $7.3 million from $7.2 million during the same period in the prior year. Total monthly sales fell 0.3 percent to $7.8 million from last year.
New outlets, along with same-store sales gains, helped Starbucks Corp. (SBUX) push its fiscal third-quarter profit up nearly 16 percent, while revenue jumped 23 percent.
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