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Stocks to Watch, Dec. 2: Novell, Calpine, Starbucks

By MarketWatch
Published | Updated

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Novell Inc., Calpine Corp., Starbucks Corp. and OmniVision Technologies Inc.

Atwood Oceanics Inc. (ATW) is expected to report fiscal fourth-quarter earnings of 25 cents a share, according to analysts polled by Thomson First Call.

After Thursday's closing bell, Novell Inc. (NOVL) said restructuring charges weighed on its bottom line to push it into a quarterly net loss, offsetting a 6.5% rise in revenue.

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Calpine Corp. (CPN) , under court order, laid out a plan Thursday to restore $313 million to bondholders but warned that the move could push the cash-strapped power generator into bankruptcy.

Catalyst Semiconductor Inc. (CATS) reported fiscal second-quarter net earnings of $927,000, or 5 cents a share, vs. $1 million, or 5 cents a share, during the same period a year ago. There were 18,274 shares outstanding this quarter compared with 19,978 shares during the year-ago period. The Sunnyvale, Calif.-based memory chip developer posted revenue of $16.9 million vs. $15.6 million. Gross margins were 38% vs. 40.8%.

Cognos Inc. (COGN) said it expects third-quarter earnings in the range of 28 cents to 31 cents a share on revenue of $209 million to $212 million. Analysts polled by Thomson First Call are estimating third-quarter earnings of 38 cents a share on revenue of $233 million. Cognos is a business software provider based in Ottawa, Ontario.

Culp Inc. (CFI) reported a fiscal second-quarter loss of $4.15 million, or 36 cents a share, compared with a loss of $4.19 million, or 36 cents a share, in the year-earlier period. After a charge of 33 cents a share, the High Point, N.C.-based mattress fabrics marketer's pro forma quarterly result was a loss of 3 cents a share, compared a pro-forma earnings last year of 4 cents a share. Culp's pro forma outlook for the third fiscal quarter is a loss of 7 cents to 12 cents a share. For the second quarter, Culp reported revenue of $67 million, compared with $75.4 million last year.

Denny's Corp. (DENN) reported that November same-stores sales were up 2.2% from the comparable period last year. The Spartanburg, S.C.-based restaurant chain added that the month's guest-check average was up 5.7%, while the guest counts were down 3.4%.

Finisar Corp. (FNSR) reported a second-quarter loss of $15.8 million, or 5 cents a share, compared with a loss of $21.2 million, or 9 cents, in the year-ago quarter. The Sunnyvale, Calif.-based optical equipment maker reported breakeven pro forma earnings per share for the quarter, compared with a loss of 4 cents last year. Quarterly revenue was $86.6 million, compared with $71 million last year, Finisar said.

Intellisync Corp. (SYNC) reported a fiscal first-quarter net loss of $8.01 million, or 12 cents a share, vs. a net loss of $3.51 million, or 5 cents a share, during the same period a year ago. The pro forma loss was 4 cents a share for the quarter. The San Jose, Calif.-based software company posted revenue of $16.3 million vs. $12.3 million. Analysts surveyed by Thomson First Call had forecast a first-quarter loss of a penny a share.

Kimco Realty Corp. (KIM) and Atlantic Realty Trust (ATLRS) said they have entered into a definitive merger agreement. Kimco will acquire Atlantic Realty for $82.5 million plus Atlantic's cash on hand at closing, and other lease expenses and liabilities, the companies said.

Longs Drug Stores Corp. (LDG) reported November's same-store sales were up 1.5% from the same period last year. The Walnut Creek, Calif.-based retail chain added that pharmacy same-store sales increased 3.7%, while front-end same-store sales decreased 1.5%. Longs also reported that November's total sales were $354.1 million, a 1.5% increase from $348.7 million last year.

OmniVision Technologies Inc. (OVTI) reported fiscal second-quarter net earnings of $22.6 million, or 41 cents a share, up 27% from $17.8 million, or 28 cents a share, in the year-ago period. Revenue at the Sunnyvale, Calif.-based semiconductor component maker rose 50%, to $126.8 million from $84.4 million, and gross margin was 36.1%. Analysts polled by Thomson First call had estimated earnings of 31 cents a share on revenue of $114 million. The company forecast third-quarter earnings of 42 cents to 47 cents a share on revenue of $130 million to $140 million.

Starbucks Corp. (SBUX) pushed its November same-store sales sharply higher while openings of new stores boosted general revenue.

SeaChange International, Inc. (SEAC) reported a third-quarter net loss of $2.11 million, or 7 cents a share. In the same period last year, SeaChange reported net earnings of $5.55 million, or 19 cents a share. Revenue at the Maynard, Mass.-based maker of digital video systems fell 17%, to $35.3 million from $42.6 million. Analysts polled by Thomson First Call had estimated revenue of $30 million.