SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Tuesday's session are Brown-Forman Corp., Guess Inc. and Amgen Inc.
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American Woodmark Corp. (AMWD) is expected to report fourth-quarter earnings of 46 cents a share, according to a survey of analysts by Thomson Financial.
Brown-Forman Corp. (BFB) is expected to post earnings of 50 cents a share for the fourth quarter.
Copart Inc. (CPRT) is expected to report third-quarter earnings of 41 cents a share.
FuelCell Energy Inc. (FCEL) is expected to post a loss of 37 cents a share for the second quarter.
Guess (GES) is expected to report first-quarter earnings of 28 cents a share.
Navarre Corp. (NAVR) is expected to post earnings of 6 cents a share for the fourth quarter.
Plato Learning Inc. (TUTR) is expected to report a second-quarter loss of 19 cents a share.
School Specialty Inc. (SCHS) is expected to post a loss of 48 cents a share for the fourth quarter.
After Monday's closing bell, Amgen (AMGN) said it has agreed to buy privately held Ilypsa Inc., whose experimental drug treatments focus on kidney disease, for $420 million in cash.
AMR Corp. (AMR), the parent company of American Airlines, said that traffic in May fell 2.9% compared with the year-ago period, as capacity decreased 4 percent. Load factor, or the percentage of the plane filled with passengers, rose 1 percentage point to 81.7 percent, the Fort Worth, Texas-based carrier said.
AMR Corp.'s (AMR) American Eagle Airlines said system-wide traffic in May fell 0.9 percent percent last year, while capacity increased of 1.3 percent. The Fort Worth, Texas-based airline said its May load factor, or the percentage of its planes filled with passenger, was 75.5 percent, down 1.7 percentage points from a year ago.
Angelica Corp. (AGL) reported a first-quarter net loss of $1.14 million, or 12 cents a share, compared with a net loss of $1.5 million, or 16 cents a share, during the year-ago period. The St. Louis-based provider of textile rental and linen management services said revenue rose to $107.8 million from $107 million last year. Additionally, Angelica said it still expects fiscal 2007 earnings before interest, taxes, depreciation and amortization of $37 million to $41 million. The company also said it sees revenue of $440 million to $450 million for the year.
Bob Evans Farms Inc.'s (BOBE) fiscal fourth-quarter net income fell to $15.3 million, or 42 cents a share, from a year-earlier profit of $20.5 million, or 56 cents a share. Excluding items, income was 42 cents a share, compared with 47 cents a share a year earlier. The Columbus, Ohio, restaurant chain's revenue grew 5 percent to $418.4 million for the period ended April 30, from $397.3 million a year earlier. Same-store sales at Bob Evans restaurants were up 1 percent in the quarter, with average menu prices up 2.2 percent. At Mimi's Cafe, same-store sales increased 1.2 percent, with average menu prices up 4.9 percent.
Celanese Corp. (CE) said it has approved a plan to buy back up to $330 million of its Series A common stock. Celanese is a chemical company based in Dallas.
Chittenden Corp. (CHZ) said it has agreed to acquire Community Bank & Trust Co. (CBNH) for about $124.1 million in a cash-and-stock deal. Under the terms of the agreement, Community shareholders can elect to receive $33.37 a share in cash, with total cash consideration of about $33.4 million, or 1.1293 shares of Chittenden common stock for each share of Community stock they own, Chittenden said. The transaction, which is subject to approval by Community's shareholders as well as various regulatory agencies, is expected to close in the fourth quarter, the Burlington, Vt.-based bank holding company said.
Ciena Corp. (CIEN) said it plans to sell up to $450 million of convertible senior notes due 2017. The Linthicum, Md.-based networking company also said it expects to grant the underwriter an option to purchase up to an additional $50 million of notes to cover over-allotments.
Corautus Genetics Inc.'s (VEGF) shareholders approved its merger with privately held Via Pharmaceuticals Inc., as well as a reverse stock split. The Atlanta company's board set the reverse split's ratio at 1 share to 15 shares. The company said it will pay cash for any fractional shares from the reverse split.
Credence Systems Corp. (CMOS) reported a fiscal second-quarter net loss of $3.45 million, or 3 cents a share, vs. a net loss of $14.2 million, or 14 cents a share, in the year-ago period. The Milpitas, Calif.-based chip-equipment maker said revenue for the three months ended May 5 fell 6.9 percent to $118.8 million from $129.9 million in the comparable period last year. Analysts polled by Thomson Financial had forecast, on average, breakeven results on a per-share basis on revenue of $117 million. The company expects breakeven results on a per-share basis in its fiscal third quarter on revenue of roughly $120 million to $123 million. Analysts are looking for a profit of 3 cents a share on revenue of $118.6 million.
Diamond Foods Inc.'s (DMND) fiscal third-quarter loss widened to $4.01 million, or 25 cents a share, from $3.18 million, or 20 cents a share, a year earlier. The Stockton, Calif., branded food company posted a non-GAAP loss of 9 cents a share. Sales for the period ended April 30 rose 43 percent to $97 million from $67.8 million. Analysts polled by Thomson Financial expected, on average, a loss of 16 cents a share on revenue of $82 million. Analyst estimates typically exclude one-time items. For the year, Diamond Foods expects non-GAAP earnings at 50 cents to 55 cents a share.
Equifax Inc. (EFX) expects second-quarter per-share earnings of 48 cents to 50 cents, on revenue of $453 million to $458 million, including the effect of its acquisition of Talx Corp. On average, analysts expect per-share earnings of 53 cents, according to a poll of three analysts by Thomson Financial. The Atlanta business information company expects full year per-share earnings of $1.96 to $2.04 on revenue growth of 19 percent to 22 percent. Wall Street expects 2007 per-share earnings of $2.01.
Kimco Realty Corp. (KIM) said it has acquired 12 shopping centers in California and Nevada for $342.9 million. The properties are 98.7 percent occupied, the New Hyde Park, N.Y.-based real estate investment trust said.
NaviSite Inc.'s (NAVI) fiscal third-quarter loss narrowed to $2.4 million, or 8 cents a share, from a year-earlier loss of $3.4 million, or 12 cents a share. The Andover, Mass., hosting and content delivery provider's revenue increased 17 percent to $32.7 million for the period ended April 30, from $27.9 million a year earlier. Wall Street expected a third-quarter loss of 9 cents a share, on revenue of $31.7 million, according to the average estimate of analysts polled by Thomson Financial. The company predicted fourth-quarter revenue of between $33.5 million and $34 million, and full-year revenue of $125 million and $125.5 million.
NxStage Medical Inc. (NXTM) entered a definitive agreement to buy Medisystems Corp. for 6.5 million shares of NxStage stock, valued at $78.7 million based on NxStage's Monday close of $12.11. Lawrence, Mass., medical device company NxStage said privately held Medisystems, Seattle, also manufactures dialysis machines, adding the acquisition will "transform NxStage into a leader in the dialysis industry." NxStage said the deal will immediately add to earnings, and the company now expects to be profitable by the end of 2008. The deal is expected to close in the fourth quarter.
Openwave Systems Inc. (OPWV) said its board is rejecting the unsolicited partial tender offer from Harbinger Capital Partners to purchase 49 percent of the company's outstanding stock for $8.30 per share in cash. Redwood City, Calif.-based Openwave called the offer "inadequate," and recommended that the company's shareholders not tender their shares. The company also declared a $100 million, or $1.20 per share, special cash dividend, and said it plans to cut 20 percent of its workforce, generating annual cost savings of $50 million a year. Openwave expects to record $20 million in restructuring charges in the fourth quarter related to the layoffs. The company, which announced in March that it was exploring a possible sale, said no party has emerged from the strategic process with a binding proposal to acquire the company, and that it believes its stand-alone plan will generate greater value for shareholders than Harbinger's offer.
Potlatch Corp. (PCH) named Eric J. Cremers vice president of finance and chief financial officer, effective Aug. 1, succeeding Gerald L. Zuehlke, who will retire at the end of the year. The Spokane, Wash., forest products company said Cremers, 43 years old, was previously senior vice president of corporate strategy and business development for retail grocery chain Albertsons Inc.
Republic Airways Holdings Inc. (RJET) reported that traffic in May rose 29 percent as capacity increased 27 percent. Load factor, or the percentage of the plane filled with passengers, rose 1.6 percentage points to 76.8 percent, the Indianapolis-based carrier said.
Sigma Designs Inc. (SIGM) reported first-quarter net earnings of $5.37 million, or 20 cents a share. During the year-ago period, the Milpitas, Calif.-based maker of silicon-based media processors and wireless chipsets posted a restated net loss of $1.36 million, or 6 cents a share. Pro forma earnings were $8.5 million, or 32 cents a share, compared with $90,000 or breakeven on a per-share basis, last year. Revenue rose to $36 million from $14.8 million last year. The increase in revenue was primarily attributable to increased chipset sales to manufacturers of IPTV set-top boxes, the company said. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 27 cents on revenue of $34 million.
Standard & Poor's will add SI International Inc. (SINT) to the S&P SmallCap 600 index, replacing Delta & Pine Land Co. (DLP) after the close of trading on June 5.
Tribune Co. (TRB) directors Jeffrey Chandler, Roger Goodan and William Stinehart Jr. resigned, decreasing the number of board members to nine. The directors and Chandler Trust representatives had agreed to step down upon the completion of the Chicago-based media company's tender offer May 24. Following the tender offer, Chandler Trusts held about 20.4 million shares, or 17 percent, compared with 48.1 million, or 20 percent, of Tribune shares outstanding beforehand. Chandler Trust No. 1 and Chandler Trust No. 2 have agreed to sell the remaining Tribune shares, which will be offered pursuant to the shelf registration statement that Tribune filed with the Securities and Exchange Commission, the company said.
XTO Energy Inc. (XTO) said it will offer 15 million shares in a public offering. The Fort Worth, Texas-based natural gas producer said it plans to use the proceeds of the offering to fund a portion of its $2.5 billion acquisition of Dominion Resources Inc.'s natural-gas and oil operations in the Rocky Mountains, Gulf Coast, San Juan Basin and southern Louisiana. XTO is granting underwriters an option to purchase an additional 2.25 million shares to cover any over-allotments.