Stocks to Watch, Jan. 12: Murphy Oil, AMD and CalAmp

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Murphy Oil Corp., Advanced Micro Devices Inc. and CalAmp Corp.

After Thursday's closing bell, Murphy Oil (MUR) said it expects fourth-quarter per-share net earnings of 40 cents to 45 cents. The company sees income from total downstream operations of $20 million and corporate charges of $10 million.

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Advanced Micro Devices (AMD) said it sees fourth-quarter revenue, excluding ATI, rising 3 percent sequentially. The Sunnyvale, Calif.-based chip company said it expects operating income in the quarter, excluding ATI and acquisition-related charges, to be "substantially" lower than in the third quarter due to lower microprocessor average selling prices.

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AvalonBay Communities Inc. (AVB) said its public offering of 4 million shares plus an over-allotment option of 600,000 shares has priced, and the real estate investment trust expects proceeds of $594 million.

CalAmp (CAMP) reported third-quarter net earnings of $896,000, or 4 cents a share, down from $5.44 million, or 23 cents a share, during the year-ago period. The Oxnard, Calif.-based provider of wireless equipment posted revenue of $61.1 million vs. $64.5 million a year ago.

Chico's FAS Inc. (CHS) said it has agreed to acquire franchise rights in Minnesota through its purchase of "a substantial portion" of the assets of its franchisee in the state, Intraco Inc.

Crown Castle International Corp. (CCI) said its stockholders have approved the $5.8 billion acquisition of Global Signal Inc. Houston-based Crown Castle expects the deal to close on Friday.

IHS Inc. (IHS) said fourth-quarter net income fell, as operating expenses rose, to $13.9 million, or 24 cents a share, from $16.4 million, or 29 cents a share, during the same period in the prior year. The technical information and tools provider said quarterly revenue rose to $148.1 million from $126 million.

Level 3 Communications Inc. (LVLT) said Southeastern Asset Management, on behalf of certain investment accounts, and Legg Mason Opportunity Trust have agreed to exchange $490 million of Level 3's notes for 160.1 million shares of Level 3's stock.

Limited Brands Inc. (LTD) named new leadership for Victoria's Secret Direct and Limited Stores. The retailer named Linda Heasley president and chief operating officer for Limited Stores and Avra Myers as president and general merchandise manager.

RC2 Corp. (RCRC) said it expects annual per-share income to miss its prior outlook of $2.52 to $2.62 due to lower-than-expected sales and profit margins. The toy company said sales from continuing operations for the fourth quarter were flat to slightly down compared with a result of $154 million during the same period in the prior year.

Ryder System Inc. (R) said it is redesigning its retirement program in a move that will affect 9,400 of the company's more than 27,000 employees. The transportation services company said it will freeze its pension plan for employees who do not meet certain grandfathering criteria, and provide them with a 401(k) savings plan.

SAP AG (SAP) shares tumbled more than 10 percent after the company said it won't hit its upcoming annual software license sales target. SAP said it now expects software sales growth for the year of 11 percent, compared to its previous outlook of 15 percent to 17 percent.

Sharper Image Corp. (SHRP) said the Nasdaq has granted the company's request for continued listing. The decision is subject to the company filing by March 1 financial reports for the 2006 quarters ended July 31 and Oct. 31, as well as any amended periodic reports.

Sunoco Inc. (SUN) said it has increased its competitive advance and revolving facility by an additional $400 million to a total of $1.3 billion.

Zebra Technologies Corp. (ZBRA) said it has agreed to acquire WhereNet Corp., a provider of radio frequency identification systems, for $126 million in cash. The transaction is expected to close by the end of January.

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