SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session Costco Wholesale Corp., Hovnanian Enterprises Inc. and Novell Inc.
ADC Telecommunications (ADCT) is expected to report second-quarter per-share income of 29 cents, according to analysts surveyed by Thomson First Call.
Bon-Ton Stores (BONT) is seen posting a first-quarter loss per share of 42 cents, according to the one analyst polled by Thomson.
Costco (COST) is expected to post earnings per share for the third quarter of 50 cents.
Dress Barn (DBRN) is seen reporting 26 cents for third-quarter per-share income.
Hovnanian (HOV) is expected to report per-share income for the second quarter of $1.43.
Novell (NOVL) is seen posting second-quarter revenue of $278 million.
Premium Standard Farms (PORK) is expected to report fourth-quarter earnings per share of 19 cents.
Tiffany & Co. (TIF) is seen posting earnings per share for the first quarter of 28 cents.
On Tuesday, Freddie Mac (FRE) said its full-year 2005 income fell as the company took $600 million in charges related to class-action lawsuits and Hurricane Katrina. Net income was $2.1 billion in 2005 compared with $2.9 billion in 2004. On a per-share basis, Freddie Mac earned $2.75 a share in 2005 vs. $3.94 a share a year earlier. See full story.
Altera Corp. (ALTR) said it still sees second-quarter sales growing sequentially at a rate of 7% to 10%. Altera added that it now expects up to several million dollars of additional expenses in the second quarter resulting from its review of stock-option granting practices and related accounting.
CMGI Inc. (CMGI) said its venture capital business, @Ventures, has received $7.9 million in initial cash proceeds resulting from the acquisition of one of its portfolio companies.
Connetics Corp. (CNCT) said it has received notices from debt holders that the company's failure to timely file its quarterly report for the period ended March 31 represents a breach of its obligations.
Cubist Pharmaceuticals Inc. (CBST) said it plans to offer $275 million of convertible subordinated notes due June 15, 2013. The company also plans to grant the underwriters an option to purchase up to an additional $41.25 million of convertible notes. See After Hours column.
E-Trade Financial Corp. (ET) said it plans to acquire Retirement Advisors of America, a Dallas investment adviser. E-Trade sees the deal adding slightly to 2006 results.
Healthways Inc. (HWAY) said it has agreed to a $307.5 million cash merger with LifeMasters Supported SelfCare, a California rival in providing of disease management programs. Healthways added that it expects the deal, which will be financed by cash on hand and debt, to add to fiscal 2007 results.
Hoku Scientific Inc. (HOKU) said it plans to diversify its product offerings by manufacturing and selling solar modules, in addition to manufacturing polysilicon, a material used in the production of solar modules. The Kapolei, Hawaii-based fuel-cell products developer said it expects to incur costs of about $250 million.
InfoSpace Inc. (INSP) after Tuesday's closing bell said its board has approved buying back up to $100 million in shares.
Max Re Capital Ltd. (MXRE) said it is restating financial statements for 2001 through 2005 after an internal investigation of certain contracts. The insurance and reinsurance company added that the restatement has the cumulative effect of reducing shareholders' equity by $18.3 million.
Storage-technology company McData Corp. (MCDTA) reported a first-quarter loss of $9.5 million, or 6 cents a share, compared to $2.9 million, or 2 cents a share, a year ago. Revenue rose 70%, to $168.3 million, from $99 million. See full story.
Microchip Technology Inc. (MCHP) said it still sees first-quarter sales rising 5% to 6%, and per-share income of 35 cents, or 37 cents on a pro forma basis.
Mirant Corp. (MIR) said it has proposed to acquire NRG Energy Inc. for $8 billion, plus the assumption of debt. Mirant, an electricity producer, said the proposal would immediately add to its pro forma per-share free cash flow.
Monsanto Co. (MON) raised its earnings outlook for 2006, citing its corn operations in the U.S. The St. Louis-based agricultural and chemicals giant now forecasts a profit of $2.50 a share to $2.55 a share for fiscal 2006.
Papa John's International Inc. (PZZA) said domestic systemwide same-store sales increased 5.2% in May. The Louisville, Ky.-based restaurant chain also said total system-wide international sales for Papa John's-branded units increased 24.6% for the 4-week period ended May 21 from the comparable period a year ago.
Safeco Corp. (SAFC) named Ross Kari chief financial officer, effective June 21. Kari joins Safeco from the Federal Home Loan Bank of San Francisco, where he has served as chief operating officer, and succeeds Christine Mead, who left the company in December 2005.
Rambus Inc. (RMBS) said its board audit committee has commenced an internal investigation of the timing of past option grants and potentially related issues. The committee expects to focus primarily on options issued in or before 2003, according to the Los Altos, Calif., chip-technology-licensing concern.
Semtech Corp. (SMTC) said sales helped boost net income for the first quarter to $12 million, or 16 cents a share, from $10.8 million, or 14 cents a share, during the same period in the prior year. Quarterly revenue rose to $65.9 million from $56.2 million. Also, the board has approved a $50 million share buyback program.
Versant Corp. (VSNT) reported second-quarter net earnings of $1.15 million, or 32 cents a share. During the same period a year ago, Versant posted a net loss of $1.06 million, or 30 cents a share. Revenue rose 18% to $3.78 million.