SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are Hewlett-Packard Co., Abercrombie & Fitch Co. and Applied Materials Inc.
BEA Systems (BEAS) is expected to report first-quarter earnings of 10 cents a share, according to analysts polled by Thomson First Call.
Foot Locker Inc. (FL) is seen posting first-quarter earnings of 37 cents a share.
Hot Topic Inc.'s (HOTT) first-quarter loss is expected to be 3 cents a share.
Intuit Inc. (INTU) is expected to post third-quarter earnings of $1.76 a share.
Men's Wearhouse Inc. (MW) is seen reporting a per-share profit of 49 cents in its first quarter.
PetSmart Inc.'s (PETM) first-quarter results are expected to show earnings of 30 cents a share.
Ross Stores Inc. (ROST) is expected to report a first-quarter per-share profit of 41 cents.
Salesforce.com Inc. (CRM) is seen posting first-quarter earnings of 4 cents a share.
Talbots Inc. (TLB) is expected to show a per-share profit of 51 cents in its first quarter.
Zale Corp. (ZLC) is expected to post third-quarter earnings of 21 cents a share.
After Tuesday's closing bell, Hewlett-Packard Co. (HPQ) reported a 51 percent rise in its second-quarter profit as the technology giant saw strong sales at its personal-computer and printing and imaging divisions. See After Hours column.
Lower expenses at its retail stores and more favorable markup prices helped specialty apparel retailer Abercrombie & Fitch Co. (ANF) to double-digit gains in income and sales during the first quarter, the company said.
Applied Materials Inc. (AMAT) reported its net income rose 35 percent from a year ago helped by stronger demand for its equipment used to manufacture chips that power consumer electronic devices.
Compuware Corp. (CPWR) said its fiscal fourth-quarter profit more than doubled, as gains related to a settlement with International Business Machines Corp. (IBM) and higher interest income more than offset a 2.9 percent decline in revenue.
LTX Corp. (LTXX) reported fiscal third-quarter net earnings of $8.14 million, or 13 cents a share. In the same period last year, the company reported a net loss of $45.7 million, or 75 cents a share. Revenue in the quarter more than doubled, rising to $56.3 million from $25.5 million. Analysts polled by Thomson First Call had forecast a per-share profit of 9 cents on revenue of $52.7 million.
NetEase.com Inc. (NTES) reported first-quarter profit that nearly doubled from last year. Net income at the online video game provider came in at $36.6 million, or 26 cents a share, compared to 13 cents a share, for last year. Excluding certain items, NetEase earnings more than doubled to $39.9 million, or 28 cents a share. Analysts were expecting a profit of 24 cents a share, according to an average of estimates from Thomson First Call. Revenue for the quarter rose more than 60 percent to $66.1 million, the company said. Analysts were expecting sales of $61.7 million.
Nike Inc. (NKE) will likely have to take a charge on its fiscal fourth-quarter earnings after an arbitrator ordered the shoe and sports apparel giant to fork over $52.5 million in damages, plus legal fees. The payment will go to Alon International, a former licensee for the company's Converse subsidiary in South America, and is the result of a contract dispute.
Novelis Inc. (NVL) concluded restating results for its first and second quarters of 2005. The Atlanta-based aluminum company said the overall impact raised net income by $11 million to a final result of $22 million for the first six months of 2005. The restatement was related to a favorable court ruling that resulted in a $4.6 million pre-tax gain, and tax accounting for currency translations on loans made by Novelis to its European units.
Photronics Inc. (PLAB) said second-quarter net income was $5.27 million, or 12 cents a share, down from $10.6 million, or 28 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. The imaging technology company said quarterly revenue was $119.5 million, up from $112.9 million. Analysts were looking for revenue of $116 million.
Principal Financial Group Inc. (PFG) said it has been subpoenaed by the New York Attorney General's Office, seeking information related to the marketing and sale of retirement products and services. The Des Moines, Iowa-based financial services company also said separately it has authorized the buyback of up to $500 million of its shares.
Verizon Communications Inc. (VZ) denied a news report that the National Security Agency that it had provided data on customer phone calls to the National Security Agency.
Vitesse Semiconductor Corp. (VTSS) said the Nasdaq has indicated that the company has failed to comply with requirements for continued listing, and its shares are subject to delisting. The chipmaker was unable to file its report for the quarter ended March 31 by the required due date because of an internal investigation of certain financial statement elements.
Wilsons the Leather Experts Inc. (WLSN) reported a first-quarter net loss of $6.5 million, or 17 cents a share, vs. a net loss of $3.79 million, or 10 cents a share, in the year-ago period. Revenue at the Minneapolis-based company fell 11 percent to $74.7 million from $84.3 million, and same-store sales fell 10.8 percent from last year.
Zumiez Inc. (ZUMZ) said it has agreed to acquire sports retailer Fast Forward, which has 19 stores and a Web store. Zumiez said it will fund the acquisition from cash on hand, though financial terms were not disclosed. Sports retailer Zumiez sees the deal closing in the second quarter. Zumiez added that it expects the acquisition to add 1 cent to 2 cents to 2006 per-share income, and 8 cents to 9 cents in 2007.
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