SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Monday's session are Fluor Corp., McKesson Corp., Berkshire Hathaway and Wynn Resorts Ltd.
Ameren Corp. (AEE) is expected to report first-quarter earnings of 53 cents a share, according to analysts polled by Thomson Financial.
Entegris Inc. (ENTG) is expected to post earnings of 13 cents a share for the first quarter.
Entercom Communications Corp. (ETM) is expected to report first-quarter earnings of 7 cents a share.
Fluor Corp. (FLR) is expected to post earnings of 86 cents a share for the first quarter.
Forest Oil Corp. (FST) is expected to report first-quarter earnings of 53 cents a share.
McKesson (MCK) is expected to post earnings of 78 cents a share for the fourth quarter.
Progress Energy Inc. (PGN) is expected to report first-quarter earnings of 49 cents a share.
Sonus Networks Inc. (SONS) is expected to post earnings of 3 cents a share for the second quarter.
Sotheby's Holdings Inc. (BID) is expected to report first-quarter earnings of 6 cents a share.
Wynn Resorts (WYNN) is expected to post earnings of 55 cents a share for the first quarter.
After Friday's closing bell, Berkshire Hathaway Inc. (BRK.A) (BRK.B) said earnings rose 12.2 percent in the first quarter as the insurance side of investor Warren Buffett's holding company posted hefty gains.
At its annual general meeting in Omaha, Neb. on Saturday, Chairman Buffett told shareholders that insurance earnings will decline in future because prices for coverage are falling. He also warned that global warming could increase hurricane losses borne by the company's catastrophe reinsurance businesses. Buffett also said that Berkshire Hathaway plans to increase its profile as a buyer of businesses outside the U.S. in coming months.
Also, Yahoo Inc. (YHOO) shares were active on reports it was in talks about a possible combination with Microsoft Corp. (MSFT) , but gave up nearly half the gains late in the day after a new report said the talks were no longer ongoing.
Dominion Homes Inc. (DHOM) reported a first-quarter net loss of $11.5 million, or $1.41 a share, compared with a net loss of $5.11 million, or 63 cents a share, during the year-ago period. The Dublin, Ohio-based home builder said the primary factors that increased the net loss on a year-over-year basis were an additional $3.1 million of interest expense and a $2.9 million tax benefit recorded in 2006 with no corresponding benefit in 2007. Revenue came in at $33.8 million, from the delivery of 165 homes, vs. $61.8 million, from the delivery of 315 homes, a year ago. Gross margin fell to 8 percent from 14.7 percent. Non-cash charges related to land impairments reduced gross profit by 4.4 percent during the quarter, the company noted.
GOL Linhas Aereas Inteligentes (GOL) said traffic in April rose 49.1 percent from the same month last year, while capacity increased 63.5 percent. Load factor, or the percentage of a plane filled with passengers, was 70.8 percent in April, down from 77.6 percent last year, the Brazilian based airline said.
Peerless Manufacturing Co. (PMFG) declared a 2-for-1 stock split. The Dallas-based maker of products for use in air pollution abatement said the shares will be distributed June 7 to shareholders of record as of May 18.
Quovadx Inc. (QVDX) said it swung to a first-quarter net profit of $12.8 million, or 30 cents a share, from a year-ago net loss of $7.77 million, or 19 cents a share, in the year-ago period. The results from the first quarter of 2007 included a gain of $15.4 million, or 37 cents a share, from the sale of CareScience. Excluding certain items, the company posted a first-quarter loss of $2.2 million, or 6 cents a share, compared with a loss of $8.4 million, or 20 cents a share, last year. The Greenwood Village, Colo.-based software company said revenue in the three months ended March 31 fell 18 percent to $13.5 million from $16.4 million.
Sears Holdings Corp. (SHLD) Chairman Edward Lampert told shareholders that after spending a lot of years "in the weeds," the parent of Sears Roebuck and Kmart stores is now in a cash-flush position to put more meaningful investments in stores and operations, as well as to target acquisitions.
Safeway Inc. (SWY) Steven Burd, chief executive officer, said Friday in an interview with the Chicago Tribune that the company's Dominick's chain of grocery stores is not for sale. He said the company has no major expansion plans for it, nor is he interested in divesting it. Burd said Safeway plans to open two stores in the next two years and renovate existing ones.
Spectrum Pharmaceuticals Inc. (SSPI) said it has agreed to issue 5.13 million shares of common stock at a price of $6.25 each, raising $32 million. The Irvine, Calif.-based company said it plans to use the proceeds from the offering to fund clinical trials and for general corporate purposes.
Tenaris S.A. (TS) reported first-quarter net earnings of $509.4 million, or 41 cents a share, up 15 percent from $441.7 million, or 36 cents a share, during the year-ago period. The Luxembourg-based maker of steel pipe products posted revenue of $2.43 billion vs. $1.62 billion.
Usec Inc. (USU) reported first-quarter net earnings of $39.3 million, or 45 cents a share, up 14 percent from $34.6 million, or 40 cents a share, during the year-ago period. The Bethesda, Md.-based global energy company posted revenue of $465 million vs. $361.3 million. Additionally, Usec said it has updated its 2007 earnings outlook to reflect the impact of about $16.9 million of non-cash reversals of prior income tax-related accruals. The company said it now expects net income to be about breakeven for the full year, based on the reversals. Usec also reiterated its previous forecast for 2007 cash flow from operations of negative $65 million to $75 million. The company confirmed its previous outlook for revenue, cost of sales, gross profit margin, and American Centrifuge spending.
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