Stocks to Watch, Feb. 23: Lowe's, Inuit, Clear Channel Communications

SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Friday's session are Lowe's Cos., Intuit and Clear Channel Communications.

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Aventine Renewable Energy Inc. (AVR) is expected to report fourth-quarter earnings of 25 cents a share, according to a survey of analysts by Thomson Financial.

Clear Channel Communications (CCU) is expected to post earnings of 41 cents a share for the fourth quarter.

Clear Channel Outdoor Holdings Inc. (CCO) is expected to report fourth-quarter earnings of 15 cents a share.

CommScope Inc. (CTV) is expected to post earnings of 36 cents a share for the fourth quarter.

Domino's Pizza Inc. (DPZ) is expected to report fourth-quarter earnings of 48 cents a share.

Hearst-Argyle Television Inc. (HTV) is expected to post earnings of 42 cents a share for the fourth quarter.

Interline Brands Inc. (IBI) is expected to report fourth-quarter earnings of 35 cents a share.

Lowe's (LOW) is expected to post earnings of 37 cents a share for the fourth quarter.

Mediacom Communications Corp. (MCCC) is expected to report a fourth-quarter loss of 7 cents a share.

Shire Plc (SHPGY) is expected to post earnings of 47 cents a share for the first quarter.

After Thursday's closing bell, H&R Block Inc. (HRB) said it swung to a third-quarter loss on costs tied to its mortgage business as it set plans to disclose details of a possible sale of the ailing unit in March.

Also Thursday, a federal court jury in San Diego found Microsoft Corp. (MSFT) was liable for $1.52 billion for infringing on patents held by Alcatel-Lucent. Lucent, now part of Alcatel-Lucent (ALU), originally filed the infringement suit against Microsoft customers, including Dell Inc. and Gateway, in 2003.

Watch List

A.C. Moore Arts & Crafts Inc.'s (ACMR) fourth-quarter net income fell 39 percent to $6.6 million, or 33 cents a share, from $10.7 million, or 53 cents a share, a year earlier. The Berlin, N.J., company's revenue grew 5.2 percent to $197.8 million from $188 million in the year-ago period.

Hedge fund Third Point LLC said it has filed a Schedule 13D with the Securities and Exchange Commission, urging the board of Acorda Therapeutics Inc. (ACOR) to initiate a process to sell the company. Entities advised by Third Point hold 9.9 percent of Acorda's shares.

BEA Systems Inc. (BEAS) reported partial results for its 2007 fourth quarter and fiscal year. BEA reported fourth-quarter revenue of $392 million, a 15 percent increase from a year ago, and $1.4 billion for its entire fiscal year, up 17 percent from the prior year.

Blockbuster Inc. (BBI) said it has entered into an agreement to sell its Australian subsidiary and grant the master franchise rights for its system in Australia to Video Ezy.

Cabela's Inc.'s (CAB) fourth-quarter net income rose nearly 26 percent to $53.4 million, or 80 cents a share, from a year-earlier profit of $42.5 million, or 64 cents a share. The Sidney, Neb., sporting goods retailer's revenue increased 16 percent to $781 million, from $675.4 million, while same-store sales rose 1.7 percent.

CarMax Inc.'s (CMX) board approved a 2-for-1 split in the form of a share dividend of its common stock.

Chesapeake Energy Corp. reported (CHK) higher fourth-quarter profit and revenue from the year-ago period. Net income rose 29 percent to $418.4 million, or 96 cents per share, from $323.5 million, or $1.11 per share. Revenue climbed to $1.9 billion from $1.8 billion a year ago.

Chiquita Brands International Inc. (CQB) reported a fourth-quarter net loss of $41.9 million, or 99 cents a share, compared with a net loss of $19 million, or 45 cents a share, during the year-ago period. The Cincinnati-based produce company posted revenue of $1.08 billion vs. $999.1 million.

Covance Inc. (CVD) said it has authorized a stock buyback program of up to 3 million shares, or nearly 5 percent of the company's common stock.

Donaldson Co.'s (DCI) second-quarter net income grew 16 percent to $31.3 million, or 38 cents a share, from $26.9 million, or 32 cents a share, a year earlier, as revenue grew 18 percent. The Minneapolis filtration systems company's revenue for the quarter ended January 31 grew to $463.7 million from $392.9 million in the year-ago period.

Emdeon Corp. (HLTH) reported fourth-quarter net earnings of $346.4 million, or $1.14 a share, up from $32.9 million, or 9 cents a share. The 2006 fourth quarter included a gain of $352.3 million related to the sale of a 52 percent interest in the company's business services segment. Revenue fell to $230.1 million from $263.8 million.

The Federal Communications Commission has requested further information from satellite-television provider DirecTV (DTV) and Major League Baseball regarding a pending agreement that would provide the league's "Extra Innings" package of out-of-market baseball games exclusively to DirecTV subscribers, FCC Chairman Kevin J. Martin said in a letter.

Walt Disney Co. (DIS) said it plans to build two more cruise ships, doubling the number of vessels the entertainment giant has for what it says has been a successful business.

First Potomac Realty Trust (FPO) reported fourth-quarter net earnings of $704,458, or 3 cents a share. In the same quarter last year, the company posted a net loss of $1.78 million, or 9 cents a share. Revenue at the Bethesda, Md.-based real estate investment trust rose to $27.8 million from $22.1 million

Flowers Foods Inc. said (FLO) it still expects 2007 net earnings of $1.33 to $1.43 a share, income from continuing operations of $81 million to $87 million, and revenue of $1.983 billion to $2.04 billion.

Gamco Investors Inc. (GBL) boosted its legal and regulatory reserves by $3 million and said it made a settlement offer to the Securities and Exchange Commission concerning a dispute over mutual fund share trading dating back more than three years.

Home Properties Inc. (HME) reported fourth-quarter net earnings of $80.9 million, up from $55.1 million in the same quarter last year. Net income available to common shareholders rose to $79.6 million, or $2.33 a share/unit, from $53.7 million, or $1.68 a share/unit, a year ago.

Software provider Intuit (INTU) reported fiscal second-quarter net income of $145.3 million, or 40 cents a share, versus $182.9 million, or 50 cents a share, in the same period last year. Sales rose to $763.3 million from $742.7 million for the three months ended Jan. 31. Intuit, of Mountain View, Calif., sells the TurboTax and QuickBooks software programs.

KLA-Tencor Corp. (KLAC) said it has entered into an accelerated share repurchase agreement under which it will buy back $750 million of its common stock. The San Jose, Calif.-based chip-equipment maker also said it has approved a new, 10 million share buyback program

M&T Bank Corp. (MTB) said it has authorized a stock buyback plan of up to 5 million additional shares, or roughly 4.6 percent of the company's outstanding common stock.

Odyssey Re Holdings Corp. (ORH) reported fourth-quarter net earnings of $85.9 million. During the same period a year ago, the company posted a net loss of $77.3 million. The insurer posted total revenue of $654.6 million compared with $599.9 million. Separately, Odyssey Re doubled its quarterly cash dividend to 6.25 cents from 3.125 cents a share. The dividend is payable on March 30 to shareholders of record as of March 16.

Plains All American Pipeline LP's (PAA) fourth-quarter net income fell 14 percent to $46 million, or 36 cents a limited partner unit, from $53.7 million, or 64 cents a unit, a year earlier, hurt by a decline in marketing revenue. Revenue fell 50 percent to $4.39 billion from $8.71 billion a year earlier.

Red Robin Gourmet Burgers Inc. (RRGB) turned in fourth-quarter results that were well ahead of Wall Street's expectations but offered a forecast range that was below them. For the most recent quarter, Red Robin said it made $8.82 million, or 53 cents a share, compared with last year's profit of $5.5 million, or 33 cents a share.

Roper Industries Inc. (ROP) reported fourth-quarter net earnings of $56.7 million, or 62 cents a share, up 12.5 percent from $50.4 million, or 57 cents a share, in the year-ago period. Revenue at the Sarasota, Fla.-based diversified industrial company rose 18 percent to $465.5 million from $393.2 million.

SBA Communications Corp. (SBAC) reported a fourth-quarter net loss of $24.3 million, or 23 cents a share, compared with a net loss of $32.3 million, or 38 cents a share, during the year-ago period. The Boca Raton, Fla.-based operator of wireless communications towers posted total revenue of $96.8 million compared with $72.4 million.

Sempra Energy's (SRE) fourth-quarter 2006 earnings fell 65 percent compared to a year ago due mainly to a write-down on the company's Argentine gas utilities, and lower net income at both the commodities trading unit and the San Diego Gas & Electric Co. division.

Telik Inc. (TELK) reported a fourth-quarter net loss of $17.6 million, or 34 cents a share, compared with a net loss of $16.2 million, or 31 cents a share, last year. The Palo Alto, Calif.-based biopharmaceutical company reported no revenue in the three months ended Dec. 31 or in the comparable period last year, while operating costs and expenses rose to $19.5 million from $18.2 million a year ago.

VA Software Corp.'s (LNUX) fiscal second-quarter net income plunged to $1.78 million, or 3 cents a share, from $10.5 million, or 17 cents a share, a year ago. The Fremont, Calif., software company said revenue for the quarter ended Jan. 31 increased 28 percent to $18.8 million from $14.7 million a year ago.

Valeant Pharmaceuticals International (VRX) said it has filed an investigational new drug application with the Food and Drug Administration for Cesamet, a treatment of cancer chemotherapy-induced neuropathic pain.

Verigy Ltd. (VRGY) reported first-quarter net earnings of $13 million, or 22 cents a share. During the same period a year ago, the company posted a net loss of $16 million, or 32 cents a share. Revenue at the Cupertino, Calif.-based semiconductor test company fell to $165 million from $170 million.

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