Among the companies whose shares are expected to see active trade in Wednesday's session are Genentech Inc., Audible Inc. and Cray Inc.

After Tuesday's closing bell, Genentech Inc.'s (DNA) earnings jumped more than 64% for the fourth quarter thanks to improved sales across the company's product lines.

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Audible Inc. (ADBL) said it no longer expects t o post a profit for 2005 and it lowered the high-end of its sales estimate for the year.

Autodesk Inc. (ADSK) said it has completed its $197 million acquisition of Alias, a developer of 3-D graphics technology. San Rafael, Calif.-based Autodesk reaffirmed its fourth-quarter forecast, excluding the impact of the Alias acquisition. The company still expects earnings of 34 cents to 36 cents a share on revenue of $405 million to $415 million. Including Alias results, Autodesk forecast fourth-quarter revenue of $409 million to $419 million. Including the impact of in-process R&D expenses, amortization of intangibles, and equity-based compensation expenses, the company expects fourth-quarter earnings of 31 cents to 33 cents a share. Excluding these items, Autodesk forecasts per-share earnings of 33 cents to 35 cents.

BRE Properties Inc. (BRE) forecast full-year 2006 earnings of 60 cents to 75 cents a share. The real estate investment trust said its earnings view doesn't include projected gains or losses associated with property sales. It said it expects funds from operations in the range of $2.05 to $2.20 a share. Excluding two non-routine items it plans to record in 2005, BRE forecast 2006 FFO growth to range from flat to an increase of 8%. The San Francisco-based company also forecast same-store net operating income growth for 2006 in the range of 3% to 5%.

Cascade Microtech Inc. (CSCD) forecast fourth-quarter per-share earnings of 11 cents, on revenue of $17.7 million. The company had previously said it expected per-share earnings of 15 cents to 20 cents on revenue of $18.8 million to $20 million. Analysts polled by Thomson First Call are looking for per-share earnings of 19 cents on revenue of $20 million.

Connetics Corp. (CNCT) said it has agreed to acquire the sales organization of PediaMed Pharmaceuticals Inc. for $12.5 million in cash. Palo Alto, Calif.-based Connetics expects the acquisition to add $6 million to $7 million in product revenues in 2006, and to be dilutive to earnings by 17 cents to 19 cents a share. The company now sees 2006 earnings of 67 cents to 71 cents a share, excluding stock option-expense, on revenue of $221 million to $225 million. In addition, Connetics expects the deal to add $20 million in revenue in 2007, and forecast 2007 revenue growth of at least 20%. It reaffirmed its 2007 earnings-per-share growth forecast of 50%. For 2008, the company expects the deal to add 10 cents to 15 cents to earnings and account for more than $30 million in product revenue.

Cray Inc. (CRAY) increased its 2005 revenue forecast to $199 million from $195 million. The supercomputer company also said it expects revenue in 2006 to increase between 5% and 15% from 2005 levels. In addition, Cray expects the second half of 2006 to be stronger than the first half, with about 65% of its total annual revenue to be recorded in the second half of the year. "While the first half of 2006 is expected to incur a moderate operating loss, the second half will likely show an operating profit," said Seattle-based Cray in a statement.

E-Z-EM Inc. (EZEM) reported second-quarter net earnings of $1.53 million, or 14 cents a share, up 6.6% from $1.43 million, or 13 cents a share, in the year-ago period. Revenue at the Lake Success, N.Y.-based manufacturer of contrast agents for gastrointestinal radiology rose to $32.2 million from $26.2 million.

IHOP Corp. (IHP) said fourth-quarter same-store sales increased 5.4% compared with the same period last year. The restaurant chain said fourth-quarter sales comparisons have been adjusted to eliminate the effect of the 53rd operating week in 2004.

McCormick & Co. Inc. (MKC) said it will close its manufacturing facility in Salinas, Calif., eliminating 400 jobs, and move production to other existing North American manufacturing facilities by the end of 2006. As part of its restructuring plan, the Sparks, Md.-based spice and seasoning company also said it will close its condiment manufacturing facility in Hunt Valley, Md., and move production to South Bend, Ind., by the end of 2006. McCormick expects to record portions of the charges related to the closure of the two facilities in the fourth quarter.

According to Merck & Co. (MRK) Chief Executive Richard Clark, about 9,100 lawsuits have now been filed against the company over its recalled pain reliever Vioxx. Since pulling Vioxx off the market in September 2004, Merck has faced a blizzard of product liability suits, on both the state and federal level. To date, three cases have been tried. Clark said it was still too early in the litigation process for the company to decide whether to add to its litigation reserves. While it has already set aside about $675 million for court costs, it has yet to establish a settlement fund for claimants.

Meritage Homes Corp. (MTH) reiterated its 2005 earnings outlook of $8.25 to $8.50 a share. Excluding a one-time bond refinancing charge incurred in the first quarter, the earnings forecast would be $8.94 to $9.19 a share, the Scottsdale, Ariz.-based homebuilder said. The company said it expects fourth-quarter per-share earnings of $2.88 to $3.13. Additionally, Meritage said fourth-quarter home orders rose 1% to 2,072 units, compared with 2,055 a year ago.

Rayonier Inc. (RYN) said it expects fourth-quarter earnings to come in 4 cents to 6 cents a share below its previous forecast, primarily due to the termination of a real estate transaction. Rayonier is a forest products company based in Jacksonville, Fla.