Stocks to Watch, June 30: Apple and EMC

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Apple Computer Inc., EMC Corp. and CA Inc.

After Thursday's closing bell, Apple (AAPL ) said it has launched an internal probe of executive stock options granted over a 4-year period, including a grant to Chief Executive Steve Jobs that was later cancelled.

Storage-technology giant EMC (EMC) moved to expand its network software business, saying it would acquire security-software company RSA Security Inc. (RSAS ) for slightly less than $2.1 billion, after accounting for RSA's cash on hand.

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CA (CA) missed a deadline to file its annual report with regulators, indicating that it had uncovered problems related to its stock-option grants going back to fiscal 1997, and also may have understated some of its subscription revenue in years prior to fiscal 2006.

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Accenture Ltd. (ACN) reported a 12 percent increase in quarterly profit as new bookings for the consulting and outsourcing firm reached levels not seen for at least two years.

Airspan Networks Inc. (AIRN) said it is still on track to deliver $41 million of products and services in the second quarter, despite an amendment to its contract with Yozan Inc. that will delay pending deliveries.

Baxter Healthcare Corp. (BAX) said it will submit a corrective action plan describing proposed upgrades and modifications for its Colleague and Syndeo infusion pumps for review to the Food and Drug Administration within 20 days. When the company meets certain requirements outlined in the agreement and the FDA grants marketing clearance, Baxter can resume sales of its pumps.

Celgene Corp. (CELG) said the Food and Drug Administration has granted approval for its supplemental new drug application for Revlimid for use in combination with dexamethasone to treat patients with multiple myeloma who have received at least one prior therapy.

Cephalon Inc. (CEPH) said it has received an approvable letter from the Food and Drug Administration for Fentora, its pain medication.

Computer Sciences Corp. (CSC) said the Securities and Exchange Commission has made an informal request for information related to its stock option grants and stock option practices. Additionally, CSC said it has authorized the repurchase of up to $2 billion of its common shares.

Constellation Brands Inc. (STZ) posted a 13 percent rise in fiscal first quarter profit, driven by strong sales of imported beer and name-brand wine in North America. The alcohol behemoth said it earned $85.5 million, or 36 cents a share, up from $75.7 million or 32 cents a year ago.

Delta Air Lines Inc. (DALRQ) said its net loss for May was $16 million, compared with a net loss of $140 million during the same period in the prior year. Before reorganization, monthly income was $8 million, according to the carrier that declared bankruptcy in 2005.

Equinix Inc. (EQIX) said it has received a grand jury subpoena from the U.S. Attorney for the Northern District of California about stock option grants and practices. Equinix is also the subject of an informal inquiry by the Securities and Exchange Commission. Further, a shareholder derivative complaint was filed against certain current and former officers and directors alleging that stock-option grants since 2000 to certain employees were awarded with exercise prices that were lower than the market price on the actual grant dates.

Falconbridge Ltd. (FAL) said it plans to "aggressively oppose" Xstrata Plc's (XTA) application to the Superior Court of Justice seeking to force it to call an early annual meeting of shareholders. The application was filed on June 28, one day after Xstrata argued before the Ontario Securities Commission to have Falconbridge's shareholder rights protection plan terminated.

Kindred Healthcare Inc. (KND) said a New York court has deferred ruling on Kindred's motion for injunctive relief from Ventas Inc. (VTR) . Kindred's suit against its landlord, Ventas, is related to Kindred's refusal to turn over fair market rental appraisals it commissioned after Ventas initiated a rent reset process in May.

McClatchy Co. (MNI) said it has completed the previously announced sale of Philadelphia Newspapers Inc. to Philadelphia Media Holdings LLC in a transaction valued at $562 million.

Microsoft Corp. (MSFT) is further delaying the release of the next version of its Office suite of business software, postponing its launch based on internal testing and customer feedback.

Newpark Resources Inc. (NR) said it has completed its initial investigation of irregularities at its Soloco Texas L.P. unit, and as a result, the company plans to restate results for the fiscal years 2001 through 2005. The restatement will reduce previously reported pretax income by less than $10 million.

Northwest Airlines Corp. (NWACQ) can reject its labor contract with some 9,300 flight attendants after months of talks failed to produce an agreement the airline claims it needs to get back on its feet financially, a federal bankruptcy judge ruled.

Palm Inc. (PALM) reported that its quarterly profit rose 54 percent from a year ago as it sold more of its handheld devices combining e-mail and cell-phone service with a digital organizer.

Parlux Fragrances Inc. (PARL) said it is delaying filing its Form 10-K as management has yet to complete assessing internal controls. The Fort Lauderdale, Fla.-based fragrance company added that it does not expect the delay to affect its fiscal 2006 outlook for sales of $182 million, and net per-share income of $2.13.

Research In Motion Ltd. (RIMM) reported a quarterly profit that slipped slightly, even though sales rose 35 percent, as higher expenses for employee stock options and other costs offset stronger corporate demand for its BlackBerry communication devices.

Rogers Corp. (ROG) said it now expects second-quarter pro forma earnings of 69 cents to 72 cents a share, excluding any impairment charges, on revenue of $101 million to $103 million. The specialty materials manufacturer had previously forecast pro forma earnings of 63 cents to 67 cents on revenue of $97 million to $100 million.

Saba Software Inc. (SABA) said higher operating expenses widened the fourth-quarter net loss to $3.48 million, or 12 cents a share, from a net loss of $572,000, or 3 cents a share, during the same period in the prior year.

Sealy Corp. (ZZ) said it has approved a cash dividend for its second quarter of 75 cents a share. The dividend is payable Aug. 1 to stockholders as of July 14, the Trinity, N.C.-based bed maker said.

Stride Rite Corp. (SRR) said it is shifting the focus of retirement benefits toward 401(k) plans rather than defined benefit pension plans. The Lexington, Mass.-based footwear marketer said the initiative includes moves such as stopping the accrual of future benefits in defined benefit pension plans, and redesigning the 401(k) savings plans to improve the company-funded contribution.

Universal Compression Holdings Inc. (UCO) named Ernie Danner chief operating officer, a newly created position.

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