SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Tuesday's session are AngioDynamics Inc., Lennar Corp., and Target Corp.
AngioDynamics (ANGO) is expected to report third-quarter earnings of 16 cents a share, according to a survey of analysts by Thomson Financial.
Arrow International Inc. (ARRO) is expected to post earnings of 36 cents a share for the second quarter.
Gamestop Corp. (GME) is expected to report fourth-quarter earnings of 80 cents a share.
H.B. Fuller Co. (FUL) is expected to post earnings of 28 cents a share for the first quarter.
Landec Corp. (LNDC) is expected to report third-quarter earnings of 90 cents a share.
Lennar (LEN) is expected to post earnings of 43 cents a share for the first quarter.
McCormick & Co. (MKC) is expected to report first-quarter earnings of 31 cents a share.
Xyratex Ltd. (XRTX) is expected to post earnings of 31 cents a share for the first quarter.
After Monday's closing bell, Target Corp. (TGT) said its March sales at stores open at least one year are tracking in-line with its forecast of a 11 percent to 13 percent gain. The estimate is based on sales for the first 3 weeks of the month, plus the outlook for the remaining weeks, with the robust growth reflecting an earlier Easter. For the combined March and April period, the company said it expects same-store sales to rise 4 percent to 6 percent and will report actual same-store sales results on April 12.
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Carrier Access Corp. (CACS) late Monday said it will pay $7.4 million to settle a class-action suit related to restatements of financials for 2003 and 2004, without admitting wrongdoing. The Boulder, Colo., communications technology company also said the Securities and Exchange Commission closed its inquiry into the restatements without recommending any enforcement action. The company said the $7.4 million settlement liability was recorded in its 2006 annual report. The money will be funded by the company's directors' and officers' insurance policy. Carrier Access had 2006 revenue of $75.4 million.
CBS Corp. (CBS) (CBS.A) said it has named Dan Mason as president and chief executive of CBS Radio. Mason will oversee CBS Radio's 144 radio stations, as well as the day-to-day operations of the division. He will report directly to Leslie Moonves, president and CEO of CBS. Mason succeeds Joel Hollander, who has stepped down from his position, the New York-based media company said.
CombinatoRx Inc. (CRXX) said preliminary results show that CRx-139 did not meet its primary endpoint in a Phase II clinical trial in patients with rheumatoid arthritis, but did show statistical significance on multiple other endpoints, requiring further analysis. The company said the results showed that CRx-102, a combination of 3mg prednisolone and the antidepressant paroxetine, is superior to 3mg of prednisolone alone.
Energy Transfer Partners L.P. (ETP) said it has increased its quarterly distribution to 78.75 cents per limited partner unit, or $3.15 on an annual basis. The new quarterly distribution will be paid on April 13 to unitholders of record as of April 6, 2007, the Dallas-based company said. Energy Transfer Equity L.P. (ETE) owns the general partner of Energy Transfer Partners and about 62.5 million ETP limited partner units.
Ethan Allan Interiors Inc. (ETH) said it expects third-quarter earnings-per-share of 53 cents to 56 cents. On average, analysts expect per-share earnings of 59 cents for the quarter ending March 31, according to a poll by Thomson Financial. The Danbury, Conn., company said the home furnishings retail environment "remains challenging." Ethan Allen's shares closed Monday down 29 cents, or 0.8 percent, at $35.50.
Faro Technologies Inc. (FARO) said it and Hexagon AB's Romer Inc. unit have settled all outstanding disputes between them. Terms of the agreement weren't disclosed. The Lake Mary, Fla., maker of software-driven three-dimensional measurement systems said patent suits pending in Florida and California, and a suit involving claims of false advertising, will be dismissed. Faro said the settlement also covers Romer-affiliated companies CimCore Corp., Hexagon Metrology AB and Hexagon Metrology Inc.
Friedman Billings Ramsey Group Inc. (FBR) said it has named President and Chief Operating Officer J. Rock Tonkel Jr. to the board. Arlington, Va.-based FBR is a provider of financial services.
Intersil Corp. (ISIL) named David Bell president and chief operating officer, effective April 2. Bell was also named to the board of the Milpitas, Calif.-based chipmaker. Bell was most recently president of Linear Technology Corp. (LLTC).
Isis Pharmaceuticals Inc. (ISIS) said results from its Phase II clinical trial showed ISIS 301012 was well tolerated when co-administered with other statins. The trial found that treatment with ISIS 301012 added to statins for five weeks resulted in 75% of patients achieving LDL-cholesterol levels of less than 100 mg/dL, the Carlsbad, Calif.-based company said. About 50% of patients achieved LDL-C levels of less than 70 mg/dL in the same trial, the company said.
Microsoft Corp. (MSFT) said it has named Reed Hastings, chairman and chief executive of Netflix Inc. (NFLX) , to its board of directors. With the election of Hastings, Microsoft's board was increased to 10 members from nine, the Redmond, Wash.-based software giant said.
Nanometrics Inc. (NANO) named Bruce Rhine interim president and chief executive, effective immediately, replacing John Heaton. A board committee will conduct a search for a permanent CEO, the Milpitas, Calif.-based company said. Nanometrics, which makes process control metrology systems used in semiconductor manufacturing, said Rhine is a "significant" shareholder.
Phillips-Van Heusen Corp.'s (PVH) fiscal fourth-quarter net income rose 17 percent to $26.8 million, or 47 cents a share, from $22.9 million, or 41 cents a share, a year earlier. The New York clothing manufacturer said sales for the quarter ended Feb. 4 increased 21 percent to $557 million from $460.1 million a year ago. On average, analysts polled by Thomson Financial predicted fourth-quarter earnings of 44 cents a share and revenue of $530.2 million. Phillips-Van Heusen expects fiscal first-quarter earnings of 85 cents a share. Analysts, on average, also predict first-quarter earnings of 85 cents a share.
Rubio's Restaurants Inc. (RUBO) reported a fourth-quarter net loss of $4.69 million, or 48 cents a share, compared with a net loss of $2.45 million, or 26 cents a share, during the year-ago period. The Carlsbad, Calif.-based restaurant operator company posted total revenue of $41.3 million vs. $34.5 million. The results include a charge of $4.83 million related to a class-action settlement announced last week, the company said. Analysts polled by Thomson Financial had forecast a fourth-quarter loss of a penny. Same-restaurant sales increased 4.9 percent during the quarter, Rubio's said.
Smith & Nephew Plc (SNN) (SN) is recalling voluntarily 539 RF Denervation probes because they were mislabeled as sterile and potentially could cause a patient infection. The British medical device company said no injuries have been reported in relation to the mislabeling. The RF Denervation probes are used with the company's Electrothermal 20S Spine System in RF heat lesion procedures for the relief of pain.
Trubion Pharmaceuticals Inc.'s (TRBN) fourth-quarter loss narrowed to $4.8 million, or 33 cents a share, from a year-earlier loss of $5.73 million, or $5.81 a share, on fewer shares outstanding. The Seattle biopharmaceutical company's revenue rose on collaborative research funding to $6.36 million from $222,000 a year earlier. Analysts expected a fourth-quarter loss of 28 cents a share, on revenue of $6.75 million, according to the average Thomson First Call estimates. Trubion expects 2007 revenue of $20 million to $25 million generated from its collaborative research.
Unitrin Inc. (UTR) said its subsidiary, Trinity Universal Insurance Co., has agreed to acquire Merastar Insurance Co. in a cash transaction valued at about $45 million. The deal is subject to approvals by insurance regulators and other third parties, among other closing conditions. Chicago-based Unitrin, a financial services company, said it expects the acquisition to close in the second quarter.
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