SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are Genentech Inc., Compuware Corp. and Ryland Group.
AAR Corp. (AIR) is expected to report fiscal fourth-quarter earnings of 41 cents a share, according to a poll of analysts by Thomson Financial.
Chaparral Steel Co. (CHAP) is seen posting a per-share profit of $1.38 for its fiscal fourth quarter.
Genentech Inc.'s (DNA) second-quarter per-share profit is expected to come in at 72 cents.
Resources Global Professionals (RECN) is seen posting earnings of 31 cents a share for its fiscal fourth quarter.
Ruby Tuesday's (RT) fiscal fourth-quarter results are expected to show per-share earnings of 47 cents.
Wolverine World Wide Inc. (WWW) is seen posting second-quarter earnings of 28 cents a share.
Yum! Brands Inc. (YUM) is expected to post a per-share profit of 26 cents for its second quarter.
Audiovox Corp. (VOXX) said fiscal first-quarter net income rose to $2.23 million, or 10 cents a share, from $1.52 million, or 7 cents a share, a year earlier, on particularly strong accessories sales. Income from continuing operations fell to a penny a share from 8 cents a share. Sales increased 15.2 percent to $128.3 million from $111.3 million.
Buca Inc. (BUCA) said second-quarter comparable-restaurant sales grew 3.7 percent from the year-ago period as revenue grew 1.7 percent. The Minneapolis parent company of the Buca di Beppo restaurant chain reported preliminary sales of $62.1 million, compared with $61 million a year earlier. On average, analysts expected revenue of $62.8 million, according to a poll by Thomson Financial.
California Pizza Kitchen Inc. (CPKI) put its second-quarter revenue at $158.6 million, up 16 percent from a year ago. The Los Angeles-based chain said same-restaurant sales increased 5.4 percent, compared with 4.8 percent a year earlier. The company had predicted an increase of 5 percent to 6 percent. California Pizza Kitchen forecast second-quarter earnings of 21 cents a share, or 23 cents a share excluding certain items. On average, analysts polled by Thomson Financial predict second-quarter earnings and revenue of 24 cents a share and $160.1 million, respectively.
Chevron Corp. (CVX) expects second-quarter results to benefit from higher commodity prices in its upstream segment and stronger refining margins in its downstream segment. The San Ramon, Calif., energy company also expects to benefit from a gain on the sale of its interest in Dynegy Inc. (DYN).
Compuware Corp. (CPWR) said it expects first-quarter revenue of about $278 million, below the mean analyst estimate of $303 million. The Farmington Hills, Mich.-based developer of testing, management and development sees break-even earnings per share for the first-quarter. The company said restructuring costs cut net income for the quarter by 4 cents a share. Analysts polled by Thomson Financial, on average, are looking for earnings of 10 cents a share.
Innovo Group Inc. (INNO) swung to a fiscal second-quarter profit of $422,000, or 1 cent a share, from a loss of $5 million, or 15 cents a share, a year earlier, which the company attributed to particularly strong sales in its Joe's Jeans unit. Excluding a settlement charge, Innovo said it would have swung to a profit of $2.14 million from a loss of $2.33 million for the year-ago period.
Sealy Corp. (ZZ) reported fiscal second-quarter net earnings of $16.1 million, or 17 cents a share, up from $126,000, or breakeven a share, in the year-ago period. The Trinity, N.C.-based mattress maker said revenue in the three months ended May 27 rose 6.7 percent to $401.8 million from $376.7 million in the comparable period last year. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 22 cents on revenue of $399 million.
STMicroelectronics NV (STM) said it will slow down and close operations at its six-inch wafer fab facility in Varrollton, Texas, its eight-inch fab facility in Phoenix and its back-end packaging and test facility in Ain Sebaa, Morocco, over the next two to three years. The Geneva-based semiconductor said the closures will affect about 4,000 employees, and it expects to offer transfers or other incentives to most of them.
Tercica Inc. (TRCA) said it signed an agreement with Genentech Inc. (DNA) worth up to $53 million for the development, manufacture and commercialization of two products. Genentech will also buy 708,591 shares of Tercica stock for $4 million in connection with the transaction. The two products contain Genentech's recombinant human growth hormone Nutropin AQ and Tercica's recombinant insulin-like growth factor-1 Increlex.
Vital Images Inc. (VTAL) said it expects a second-quarter loss of 2 cents to 5 cents a share. The Minneapolis provider of visualization services put its revenue at $15.1 million to $15.4 million. Vital also cut its 2007 revenue estimate to $75 million to $80 million from $90 million to $95 million. The company's shares were recently halted and last listed a price of $26.47.
Ryland Group Inc. (RYL) said it expects to report a second-quarter loss of $1.25 to $1.35 a share. The Calabasas, Calif.-based homebuilder said that due to "continued deterioration in the housing market," it expects to incur $145 million to $155 million in pre-tax charges related to inventory impairments and write-offs in the quarter. Excluding inventory impairments and write-offs, Ryland said it expects to a post second-quarter profit of 75 cents to 80 cents a share. In addition, the company said preliminary sales for the second quarter were 2,521 units, down 16.6 percent from last year.