Stocks to Watch, June 27: General Motors and McClatchy

Among the companies whose shares are expected to see active trade in Tuesday's session are Cephalon Inc., General Motors Corp. and McClatchy Co.

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Apogee Enterprises Inc. (APOG) is expected to report earnings per share for the first quarter of 17 cents, according to analysts polled by Thomson First Call.

Exfo Electro-Optical Engineering (EXFO) is seen posting third-quarter per-share income of 6 cents.

H.B. Fuller Co. (FUL) is expected to post per-share earnings for the second quarter of 69 cents.

Nike Inc. (NKE) (NKE) is seen posting fourth-quarter earnings per share of $1.40.

Stride Rite Corp. (SRR) is expected to report second-quarter earnings per share of 37 cents.

UniFirst Corp. (UNF) is seen posting per-share income for the third quarter of 57 cents.

After Monday's closing bell, General Motors (GM) said 35,000 workers have opted to voluntarily leave the company, surpassing initial targets and allowing the automaker to increase its targeted savings to $8 billion annually by the end of 2006. See full story.See After Hours column. Also, Delphi Corp. (DPHIQ) said 12,600 hourly workers have elected to accept early retirements.

Knight Ridder Inc. (KRI) said its shareholders have approved the company's $6.5 billion acquisition by McClatchy (MNI) . The transaction is expected to close on Tuesday. See full story.

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American Capital Strategies Ltd. (ACAS) said it has invested in the buyout of Contec LLC, a repairer of cable set-top boxes. Financial terms were not disclosed.

Boeing Co. (BA) said it will take a series of actions, including meeting with customers, as the company accelerates evaluating options for its Connexion by Boeing high-speed broadband communications unit. Boeing said the market for the service "has not developed satisfactorily," and the company is limiting the service's expansion.

Cephalon (CEPH) said its epilepsy drug, Gabitril, failed to show effectiveness in treating generalized anxiety disorder in late-stage clinical trials. See full story.

CKE Restaurants Inc. (CKR) said higher revenue helped boost first-quarter net income to $16.2 million, or 23 cents a share, from $16 million, or 24 cents a share, during the same period in the prior year. Analysts polled by Thomson First Call had expected a per-share result of 21 cents.

Ennis Inc. (EBF) said lower costs and expenses helped boost first-quarter net income to $11.3 million, or 44 cents a share, from $10.6 million, or 41 cents a share, during the same period in the prior year.

General Mills Inc. (GIS) said it has approved increasing the quarterly dividend 2.9% to 35 cents a share from 34 cents a share. The producer of packaged consumer goods said the dividend will be payable August 1 to shareholders of record as of July 10.

Healthways Inc. (HWAY) reported third-quarter net earnings of $9.34 million, or 26 cents a share, up 9.4% from $8.54 million, or 24 cents a share, during the year-ago period. The Nashville, Tenn.-based provider of disease management products and services posted revenue of $106.8 million vs. $78.4 million.

Houston Exploration Co. (THX) said it has determined that the $62-per-share unsolicited acquisition offer from Jana Partners LLC undervalues the company and is not in the best interest of its shareholders.

InFocus Corp. (INFS) said it has filed its reports for 2005 and the first quarter of 2006 with the Securities and Exchange Commission. An audit committee investigation of violations of U.S. export laws by one of InFocus' foreign subsidiaries is complete. The maker of projectors said no information was discovered that requires a restatement of prior financial results.

Maximus Inc. (MMS) said it now expects a third-quarter net loss of 55 cents to 60 cents a share and fiscal 2006 earnings of 57 cents to 67 cents a share. The company revised its forecast after it amended its subcontract with Accenture.

Sprint Nextel Corp. (S) said it has completed acquiring Nextel Partners for $6.5 billion, or $28.50 per share. Sprint Nextel, which previously owned 31% of Nextel Partners, said it has acquired more than 2.1 million customers and now has 51 million wireless subscribers.

Starwood Vacation Ownership, a division of Starwood Hotels & Resorts Worldwide Inc. (HOT) , said it has finalized the acquisition of 28.7 acres in the Desert Willow development from Intrawest Corp. (IDR) .

SunOpta Inc. (STKL) said it has entered into a licensing deal with Mikro-Technik GmbH & Co. for the North American sale, marketing and distribution of Mikro-Technik's wheat and bamboo fibers, and its powdered cellulose products. Financial terms weren't disclosed.

Teppco Partners LP (TPP) said it's offering 5 million units representing limited partner interests. The pipeline operator said it plans to use the offering's proceeds to reduce its revolver borrowings outstanding, among other moves.

Take-Two Interactive Software Inc. (TTWO) said it has received grand jury subpoenas from the District Attorney of New York county requesting production of documents covering periods beginning on Oct. 1, 2001. The document request relates, in part, to the knowledge of the company's officers and directors regarding the creation, inclusion and programming of hidden scenes, commonly referred to as "hot coffee" in the game "Grand Theft Auto: San Andreas." See After Hours column.

Vitesse Semiconductor Corp. (VTSS) said its shares will be delisted from the Nasdaq as of the opening of the market on Wednesday. The Camarillo, Calif.-based semiconductor company has been late in filing its report for the quarter ended March 31.

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