SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Tuesday's session are Kroger Co., J. M. Smucker Co. and Progress Software Corp.
Actuant Corp. (ATU) is expected to report fiscal third-quarter earnings of 78 cents a share, according to analysts polled by Thomson First Call.
Apollo Group Inc. (APOL) is seen posting a fiscal third-quarter profit of 74 cents a share.
Christopher & Banks Corp.'s (CBK) first-quarter per-share profit is expected to be 37 cents.
FactSet Research Systems (FDS) is expected to post a fiscal third-quarter profit of 39 cents a share.
FSI International (FSII) is seen reporting a fiscal third-quarter loss of 7 cents a share.
Golf Galaxy Inc.'s (GGXY) first-quarter results are expected to show a per-share profit of 20 cents.
J. M. Smucker Co. (SJM) is expected to post a fourth-quarter per-share profit of 58 cents.
Kroger Co.'s (KR) first-quarter earnings are expected to be 42 cents a share.
Progress Software Corp. (PRGS) fiscal second-quarter profit is expected to be 25 cents a share.
Sonic Corp. (SONC) is expected to report third-quarter earnings of 26 cents a share.
American Commercial Lines (ACLI) said it now expects 2006 per-share earnings of $2 to $2.20, and earnings before interest, taxes, depreciation and amortization of $170 million to $180 million. The company had previously forecast per-share earnings of $1.70 to $1.90 and EBITDA of $155 million to $165 million for the year. Analysts polled by Thomson First Call are currently looking for 2006 earnings of $1.92 a share. In addition, the company said it now sees second-quarter per-share earnings of 48 cents to 53 cents and EBITDA of $41 million to $44 million. Analysts are estimating earnings of 40 cents a share for the quarter.
Avocent Corp. (AVCT) said it has approved an expanded buyback program of up to three million additional shares. The company also said it has closed on a five-year, $250 million unsecured revolving bank line of credit. Avocent said it expects to close its LANDesk acquisition in the third quarter. The $400 million acquisition will be funded with $200 million in cash and $200 million in Avocent common stock.
Delta Petroleum Corp. (DPTR) said it has received a subpoena from the U.S. Attorney for the Southern District of New York requesting records dating back to 1996 related to the company's granting of stock options.
DynCorp International Inc. (DCP) reported fourth-quarter net earnings of $5.76 million. During the same period a year ago, the government services contractor reported a pro forma loss of $7.3 million. DynCorp, which had its initial public offering May 4, posted revenue of $548.7 million vs. $520.9 million. For fiscal 2007, the company said it expects per-share earnings of 51 cents, or 71 cents on a pro forma basis, on revenue of $2.4 billion.
Lam Research (LRCX) plans to repatriate $350 million in foreign earnings in the quarter ending June, the chip-equipment maker said in a Securities and Exchange Commission filing. Lam Research, of Fremont, Calif., said it will book a tax expense of $16 million as a result. It said it borrowed $350 million from ABN Amro Bank N.V. to facilitate the transaction. It has five years to repay the loan.
New York Times Co. (NYT) said it expects to post second-quarter earnings in a range basically unchanged from its results in the same period last year.
Patterson Cos. (PDCO) said it has acquired Dale Professional Surgical Supply Co. Terms of the all-cash transaction weren't disclosed. Long Island, N.Y.-based Dale is a dealer/distributor of rehabilitation equipment and related supplies that will become a branch office of the Patterson Medical rehabilitation unit. With sales of about $6 million, Dale is expected to have a neutral impact on Patterson's consolidated earnings during its first year as part of the company, the company said.
Progress Software Corp. (PRGS) said it was voluntarily reviewing all of grants of stock options since the beginning of fiscal 1996. The business-software firm said the review was in response to recent attention from media and analysts on stock-option grant practices at numerous companies, and investor inquiries. Progress Software also said second-quarter revenue rose 9.4% to $109.6 million, though the company wasn't able to provide bottom-line results due to its review of stock-option grants.
Target Corp. (TGT) said it sees same-store sales for the five-week period from May 28 through July 1 trending toward the upper half its forecast of a 3% to 5% rise. The discount retailer's June comp sales rose 9% in 2005. Target issued the updated forecast via a recorded phone message.
Trinity Industries Inc. (TRN) raised its second-quarter earnings forecast to a range of 60 cents to 65 cents a share. The Dallas-based provider of products and services for the transportation, industrial, construction, and energy sectors had previously forecast earnings of 52 cents to 57 cents a share. Analysts polled by Thomson First Call are currently expecting a per-share profit of 56 cents.