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Stocks to Watch, March 2: Costco, Progressive and PetSmart

By MarketWatch
Published | Updated

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Thursday's session are Costco Wholesale Corp., Progressive Corp., Univision Communications Inc. and PetSmart Inc.

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Angiotech Pharmaceuticals Inc. (ANPI) is expected to report a fourth-quarter loss of 16 cents a share, according to analysts polled by Thomson First Call.

Ciena Corp. (CIEN) is seen posting a fiscal first-quarter loss of 2 cents a share.

Costco Wholesale Corp.'s (COST) fiscal second-quarter profit is expected to be 60 cents a share.

Pep Boys (PBY) is seen posting a fourth-quarter loss of 19 cents a share.

Progressive Corp. (PGR) is expected to report a fiscal first-quarter per-share profit of $1.84.

Talbots Inc.'s (TLB) fourth-quarter earnings are expected to be 36 cents a share

Tenet Healthcare Corp. (THC) is expected to report a loss of 6 cents a share in its fourth quarter.

Univision Communications Inc.'s (UVN) fourth-quarter per-share profit is expected to be 23 cents a share.

World Wrestling Entertainment Inc. (WWE) is seen posting fiscal third-quarter earnings of 11 cents a share.

After Wednesday's closing bell, PetSmart Inc. (PETM) said fourth-quarter net income was $70.9 million, or 50 cents a share, compared with restated earnings of $65 million, or 43 cents a share, last year. See After Hours column.

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ADC Telecom (ADCT) posted a small first-quarter loss after incurring acquisition-related costs and paying more money to retain key employees. See full story.

Aeropostale Inc. (ARO) said sales at stores open longer than a year, an important industry metric, dropped 5.4% in February. That was well short of Wall Street's expectations of an average increase of 3%, according to analysts reporting to Thomson First Call. Total sales rose 14.1% to $67.8 million.

Burlington Coat Factory Warehouse Corp. (BCF) said same-store sales for February rose 0.7%. The company said third-quarter same-store sales, or revenue from outlets open more than a year, was up 3.5% for the third quarter, which ended Feb. 26. Sales from continuing operations rose to $1.02 billion from last year's $968.1 million, up 5.7%.

Brisk same-store sales and widening margins helped Chico's FAS Inc. (CHS) to push its earnings up nearly 35% in the fourth quarter, but the women's-wear retailer said that looming stock-option expensing and pricey product rollouts will cool that torrid pace down a bit in the current fiscal year. See full story.

CV Therapeutics Inc. (CVTX) said the fourth-quarter net loss was $74.1 million, or $1.65 a share, compared with a net loss of $53.8 million, or $1.62 a share, during the same period last year. Analysts polled by Thomson First Call had expected a per-share loss of $1.41.

Dana Corp. (DCN) said it did not make the March 1 interest payments on its 7% senior notes due March 1, 2029, and its 6.5% senior notes due March 1, 2009. The total amount of the interest payments was $21 million. The Toledo, Ohio-based auto parts company said there is a 30-day grace period on the interest payments. Failure to make the payments by March 31 would constitute a default.

Fluor Corp. (FLR) reported a 36% jump in its fourth-quarter profit, citing improved results in most of its core business activities and a favorable tax settlement. See full story.

Foot Locker Inc. (FL) reported fourth-quarter net earnings of $96 million, or 61 cents a share, up 7.9% from $89 million, or 57 cents a share, in the year-ago period. Revenue at the New York-based retailer rose 1.9% to $1.56 billion from $1.54 billion, and same-store sales increased 3.9%. Analysts polled by Thomson First Call had forecast earnings of 55 cents a share on revenue of $1.569 billion.

Gateway Inc. (GTW) will pay Hewlett-Packard Co. (HPQ) $47 million to settle a patent-litigation suit between the two personal-computing industry rivals, the companies said. See full story.

General Dynamics Corp. (GD) said it will split its stock 2 for 1 and pay shareholders a 15% higher quarterly dividend. See full story.

Hovnanian Enterprises Inc. (HOV) reported a fiscal first-quarter profit that was flat compared with a year ago. See full story.

Men's Warehouse Inc. (MW) posted a 30% jump in fourth-quarter profit, as sales rose in the U.S. and Canada. See full story.

McDermott International Inc. (MDR) reported fourth-quarter net earnings of $36.1 million, or 48 cents a share, down from $42.5 million, or 61 cents, a year ago. Both periods exclude results of McDermott's Babcock & Wilcox subsidiary, which was dropped from its earnings reports from February 2000 through February 2006. Revenue for the three months ended Dec. 31 fell to $398.6 million from $473.7 million. Analysts polled by Thomson First Call had expected the company to hand in earnings of 39 cents a share.

Versant Corp. (VSNT) reported first-quarter net earnings of $776,000, or 22 cents a share, compared with $345,000, or 10 cents a share, during the year-ago period. Revenue fell to $4.63 million from $5.28 million a year ago, the Fremont, Calif.-based database management company said.