NEW YORK – Among the companies whose shares are expected to see active trade in Tuesday's session are Johnson & Johnson, Intel Corp., Motorola Inc. and IBM Corp.
3M Co. (MMM) is expected to report third-quarter earnings of $1.08 a share, according to analysts polled by Thomson First Call.
Intel Corp.'s (INTC) third quarter is seen showing a per-share profit of 33 cents.
Johnson & Johnson (JNJ) is expected to show earnings of 86 cents a share in its third quarter.
Kraft Foods Inc. (KFT) is seen posting a third-quarter profit of 46 cents.
Merrill Lynch Co. Inc.'s (MER) third quarter is expected to show a per-share profit of $1.18.
Motorola Inc. (MOT) is expected to report third-quarter earnings of 28 cents a share.
Novartis AG (NVS) is seen posting a third-quarter profit of 72 cents a share.
Safeway Inc.'s (SWY) third quarter is expected to show per-share earnings of 35 cents.
United Technologies Corp. (UTX) is expected to report third-quarter earnings of 79 cents a share.
Wells Fargo & Co. (WFC) is seen posting a per-share profit of $1.15 a share in its third quarter.
Yahoo Inc.'s (YHOO) third-quarter is expected to show earnings of 14 cents a share.
After Monday's closing bell, International Business Machines Corp. (IBM) reported that third-quarter profit slipped from a year ago, hurt by a higher tax bill, but sales from continuing operations rose slightly as it sold more hardware and services.
Adtran Inc. (ADTN) reported third-quarter net earnings of $33 million, or 42 cents a share, up 76% from $18.8 million, or 23 cents a share, in the year-ago period. Revenue at the Huntsville, Ala.-based network access equipment supplier rose to $149.2 million from $115.3 million last year. Gross margin was 59.9% vs. 57.6%. Analysts polled by Thomson First Call had estimated earnings at 39 cents a share on revenue of $145.6 million. Adtran revised its 2005 earnings forecast to a range of $1.26 to $1.28 a share on revenue of $512 million to $516 million.
Borders Group Inc. (BGP) widened its third-quarter loss forecast to 16 cents to 20 cents a share, from a prior loss expectation of 8 cents to 12 cents a share, citing weaker-than-expected sales. Analysts polled by Thomson First Call are currently looking for a per-share loss from the book retailer of 10 cents for the period. Same-store sales to date at its superstores have fallen 0.7% vs. a forecast for sales to be flat to up slightly, Borders said, while at its Waldenbooks stores, comparable sales are down 5.4% so far in the quarter.
Chiron Corp. (CHIR) said it has started shipping its Fluvirin vaccine in the U.S. for the 2005-2006 flu season, and expects to continue shipments through December. Emeryville, Calif.-based Chiron now expects that the total number Fluvirin doses it will produce for the season to be below its previous forecast because of production delays, and as a result, expects results for 2005 to come in below its forecast. In July, the company forecast earnings from continuing operations of 86 cents to $1.11 share, and adjusted earnings from continuing operations of $1.20 to $1.45 as share. It also expected to produce between 18 million and 26 million doses of Fluvirin.
Cognex Corp. (CGNX) reported third-quarter net earnings of $10.9 million, or 22 cents a share, down 7% from $11.7 million, or 25 cents a share, a year ago. Revenue rose to $58.3 million from $55.4 million last year. Cognex, whose products are used in semiconductor and electronics manufacturing equipment, forecast fourth-quarter earnings of 24 cents to 27 cents a share on revenue of $61 million to $64 million.
Crown Holdings Inc. (CCK) reported third-quarter net earnings of $78 million, or 45 cents a share, vs. $58 million, or 35 cents a share, for the same period a year ago. The Philadelphia-based supplier of packaging products posted revenue of $1.93 billion vs. $1.83 billion.
Insmed Inc. (INSM) said it has submitted a response to the Food and Drug Administration's approvable letter for iPlex, which is used to treat children with growth failure. Insmed said that the FDA, in its letter in September, indicated that the new drug application for iPlex was sufficient for full approval, pending the submission of additional information about chemistry, manufacturing and controls. Richmond, Va.-based Insmed said the regulator isn't requiring it to conduct additional preclinical or clinical trials.
Inter Parfums Inc. (IPAR) said its third-quarter net sales rose 15%, to $77.2 million from $67.1 million in the year-ago period, due to continued growth in Burberry fragrance sales. Inter Parfums also said the debut of Christian Lacroix Tumulte mid-quarter and the geographic rollout of Celine Fever also contributed to sales growth to a lesser extent.
Lone Star Technologies Inc. (LSS) reported third-quarter net earnings of $50.3 million, or $1.63 a share, up 88% from $26.8 million, or 91 cents a share, in the year-ago period. Revenue at the Dallas-based tubing manufacturer rose to $324.1 million from $272.2 million last year. Analysts polled by Thomson First Call had estimated earnings at $1.74 a share on revenue of $319 million.
M.D.C. Holdings Inc. (MDC) reported third-quarter net earnings of $121 million, or $2.62 a share, up 15% from $105.1 million, or $2.36 a share, in the year-ago period. Revenue at the Denver-based homebuilder rose to $1.17 billion from $1.03 billion last year. Analysts polled by Thomson First Call had estimated earnings at $2.56 a share on revenue of $1.16 billion. The company confirmed that it expects 2005 earnings to exceed $10.44 a share.
Novellus Systems Inc. (NVLS) reported that its third-quarter profit fell 64% from a year ago as it shipped less equipment to chip manufacturers.
Open Solutions Inc. (OPEN) revised its third-quarter earnings forecast to a range of 17 cents to 19 cents a share on revenue of $48.5 million to $49.5 million. It had previously forecast earnings in a range of 20 cents to 21 cents a share on revenue of $47.5 million to $49.5 million. For 2005, Open Solutions reaffirmed its previous earnings and revenue forecasts.
Rambus Inc. (RMBS) reported third-quarter net earnings of $14.5 million, or 14 cents a share, vs. $10.4 million, or 10 cents a share, during the same period a year ago. The Los Altos, Calif.-based chip technology company posted revenue of $36 million vs. $38.8 million.
Rocky Shoes & Boots Inc. (RCKY) said it expects to report third-quarter earnings of $1.13 to $1.15 a share on sales of $94 million. Analysts surveyed by Thomson First Call currently expect earnings of $1.34 a share on revenue of $101 million. Rocky forecast fiscal 2006 earnings of $3.05 to $3.15 a share on revenue of $313 million to $318 million.
Stanley Furniture Co. (STLY) reported third-quarter net earnings of $5.8 million, or 44 cents a share, vs. $5.29 million, or 40 cents a share, during the same period a year ago. The Stanleytown, Va.-based furniture manufacturer posted revenue of $85.6 million vs. $78.8 million. Looking ahead, Stanley Furniture lowered its fourth-quarter and full-year outlook due to slower sales growth. The company said it now expects fourth-quarter earnings of 39 cents to 42 cents a share on revenue of $81.5 million to $84.5 million. The company said it also now sees full-year earnings of $1.70 to $1.73 a share on revenue of $334 million to $337 million.