By ,
Published January 13, 2015
Among the companies whose shares are expected to see active trade in Wednesday's session are Hormel Foods Corp., Dell Inc. and Alcoa Inc.
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Hormel (HRL) is expected to report earnings per share for the fourth quarter of 63 cents, according to analysts polled by Thomson First Call.
Patterson Cos. (PDCO) is expected to post second-quarter per-share income of 34 cents.
After Tuesday's closing bell, Dell (DELL) reported a third-fiscal-quarter profit that was almost 12% higher from a year ago, and shares rose as much as 11% in after-hours trading as the computing giant's earnings results beat the consensus forecast of Wall Street analysts.
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Alcoa, the world's biggest aluminum company, unveiled a broad restructuring program that will cut 5% of its workforce and lead to a spin-off of its molded soft-alloy business via a joint venture with Norway's Orkla ASA.
American Italian Pasta Co. (PLB) said it has decided to reclassify certain promotional expenses as a reduction in revenues. As a result, the pasta producer's revenue for the fiscal 2005 and 2006 will be reduced by $26 million each year.
Baxter International Inc.'s (BAX) Healthcare SA unit said the Austrian Ministry of Health has entered into a preparedness contract with the company that contains an option to buy 16 million doses of pandemic influenza vaccine.
Borders Group Inc. (BGP) said the third-quarter net loss widened, as income taxes rose to $39.1 million, or 64 cents per basic share, from a net loss of $14.1 million, or 20 cents per basic share, during the same period in the prior year. Quarterly revenue rose to $860.4 million from $845.8 million.
Brocade Communications Systems Inc. (BRCD) said fourth-quarter net income rose, as revenue gained, to $20 million, or 7 cents a share, from $1.06 million, or breakeven on a per-share basis, during the same period in the prior year. .
Coldwater Creek Inc. (CWTR) said third-quarter net income rose, as revenue gained, to $15.9 million, or 17 cents a share, from $10.5 million, or 11 cents a share, during the same period in the prior year. The apparel retailer said quarterly revenue rose to $256.4 million from $186.8 million in the prior year. See After Hours column.
Comcast Corp. (CMCSA) (CMCSK) and Walt Disney Co. (DIS) said Comcast has acquired Disney's 39.5% ownership stake in E! Networks for $1.23 billion and now fully owns the entertainment news network.
Cray Inc. (CRAY) said it has been awarded a $250 million contract from the U.S. Defense Advanced Research Projects Agency to develop a new supercomputer.
General Motors Corp. (GM) shares fell after UAW President Ron Gettelfinger said contract negotiations would begin in July.
International Business Machines Corp. (IBM) said the Defense Advanced Research Projects Agency has given the company a 4-year, $244 million contract to develop a supercomputer that is more efficient and simpler to program.
J. Crew Group Inc. (JCG) said third-quarter net earnings rose to $26 million from $3.03 million in the same period last year, on the back of higher than expected sales gains. The retailer said revenue rose 23% to $275.6 million from $223.4 million, on comparable-store sale growth of 19%.
Par Pharmaceutical Cos. (PRX) and AstraZeneca Plc (AZN) said they signed a supply and distribution agreement in the U.S. under which Par will distribute a generic version of AstraZeneca's Toprol-XL extended release tablets.
Payless ShoeSource Inc. (PSS) said third-quarter net earnings rose to $28.9 million, or 43 cents a share, from $21.9 million, or 32 cents a share, in the same period last year, on the back of increases in average retail and footwear units sold.
PDL BioPharma Inc. (PDLI) said Roche (RHHGY) will discontinue its agreement with PDL to jointly develop daclizumab for organ transplant patients on longer-term maintenance therapy.
QAD Inc. (QADI) said third-quarter net income fell, as operating expenses rose, to $947,000, or 3 cents a share, from $2.69 million, or 8 cents a share, during the same period in the prior year.
Solectron Corp. (SLR) said its board has voted to terminate the company's shareholder rights plan.
VeriSign Inc. (VRSN) said it will restate its financial results for 2001 through 2005, as well as the first quarter of 2006, to record additional non-cash, stock-based compensation expense.
Wal-Mart Stores Inc. (WMT) said Middlesex County Superior Court Judge Thomas Murtagh has granted the retailer's motion to decertify the class in a suit that alleges missed breaks.
XTO Energy Inc. (XTO) raised its quarterly cash dividend 20% to 9 cents a share from 7.5 cents a share.
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